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  • US Fed price hike sign tanks rupee by 76p; inflation weighs

    Tracking a powerful greenback abroad after the US Federal Reserve shocked the market by signalling price hike prior to anticipated, the rupee fell one other 76 paise to shut beneath the 74 per greenback stage at 74.08. The rupee has misplaced 128 paise within the eight buying and selling classes until Thursday with larger inflation and oil costs including to the weak sentiment.
    While benchmark 10-year bond yield lastly closed down 3 foundation factors at 6.02 per cent, most different bond yields rose 3-4 foundation factors monitoring the US bond yield, which had jumped 7.5 foundation factors.
    In the US, five-year, 30-year Treasury yield curve flattened to 117 bps, flattest since November, as of 1:37 pm EDT. Gold shed greater than 2 per cent on Thursday, precipitating a selloff throughout valuable metals with palladium set for its worst day in over a 12 months, because the greenback gained floor. Spot gold fell 2.2 per cent to $1,772.53 per ounce by 12:07 pm EDT, having earlier touched its lowest since May 3 at $1,766.29.
    Money market yields are inching larger and that’s getting transmitted additional alongside the curve, stated a cash market analyst.

    The rupee – which is influenced by the US pattern and capital flows — fell sharply in Thursday’s session after the Federal Reserve launched its coverage assertion, whereby it held charges unchanged however turned a bit hawkish in its commentary, indicating the potential of a price hike. “The Federal Reserve Chairman said that there had also been initial discussions about when to pull back on the Fed’s $120 billion in monthly bond purchases, a conversation that would be completed in coming months as the economy continues to heal,” stated Gaurang Somaiyaa, foreign exchange & bullion analyst, Motilal Oswal Financial Services.

    Meanwhile, the BSE Sensex on Thursday ended 178.65 factors or 0.34 per cent decrease at 52,323.33, whereas the broader NSE Nifty fell 76.15 factors or 0.48 per cent to fifteen,691.40. Banking and finance shares accounted for a lot of the losses, whereas the IT pack noticed brisk shopping for, fuelled by a weak rupee.
    Meanwhile, cash market yields are inching larger and that’s getting transmitted additional alongside the curve in India. Three 12 months and five-year OIS (in a single day index swaps) rose 7 foundation factors to 4.64 per cent and 5.24 per cent, respectively.

  • Markets off report highs, finish 4-day successful streak

    Key benchmark indices Sensex and Nifty retreated from record-high ranges on Wednesday following intense promoting in Reliance and HDFC twins as traders turned cautious forward of the result of the US Federal Reserve’s coverage assembly.
    The 30-share BSE index ended 271.07 factors or 0.51 per cent decrease at 52,501.98. It had closed at an all-time excessive of 52,773.05 on Tuesday. The broader NSE Nifty retreated from a report and declined 101.70 factors or 0.64 per cent to fifteen,767.55.
    PowerGrid was the highest laggard within the Sensex pack, shedding round 2 per cent, adopted by IndusInd Bank, Reliance, L&T, UltraTech Cement and Bajaj Finance.
    On the opposite hand, Nestle, NTPC, ONGC, Bajaj Finserv Hindustan Unilever and Infosys had been among the many gainers.
    “Indian indices slipped ahead of the Fed policy announcement as global markets turned cautious. Weakening MoM sales data and rising prices in the US are adding concerns to ongoing inflationary trend. But, Fed maintaining an accommodative policy and a calm comment on short-term inflationary pressure can drive the markets ahead,” Vinod Nair, Head of Research at Geojit Financial Services, stated.
    The broader Nifty declined on account of broad-based promoting throughout counters, particularly metals and financials shares. Reliance, Adani Ports and HDFC had been among the many prime contributors to index losses. All sectoral indices closed on a weak notice besides Nifty IT and FMCG. Benchmark fairness indices broke a four-day successful streak and retreated from report highs following weak Asian cues, Deepak Jasani, Head of Retail Research, HDFC Securities,stated.

  • Sensex and Nifty finish at new highs

    Equity benchmark Sensex jumped by one other 221 factors to scale a brand new closing excessive of 52,773 on Tuesday, propelled by beneficial properties in index majors Reliance, Infosys, and HDFC twins amid largely optimistic world cues.
    At the closing bell, the 30-share BSE index quoted 221.52 factors or 0.42 per cent greater at 52,773.05.
    Likewise, the broader NSE Nifty rose 57.40 factors or 0.36 per cent to settle at a recent excessive of 15,869.25.
    Asian Paints was the highest gainer within the Sensex pack, rising round 3 per cent, adopted by Axis Bank, ICICI Bank, Hindustan Unilever, IndusInd Bank, Infosys and HDFC Bank.

    On the opposite hand, Bajaj Finserv, Dr Reddy’s, Titan, Sun Pharma, Bajaj Finance and PowerGrid have been among the many laggards.
    Elsewhere in Asia, bourses in Tokyo and Seoul ended on a optimistic word, whereas Shanghai and Hong Kong have been within the crimson.
    Equities in Europe have been buying and selling with beneficial properties in mid-session offers.

    International oil benchmark Brent crude was buying and selling 0.32 per cent greater at USD 73.09 per barrel.
    Meanwhile, the rupee slipped 2 paise to shut at 73.31 in opposition to the US greenback.

  • Sensex drops over 200 factors in early commerce; Nifty exams 14,450-mark

    Equity benchmark Sensex tumbled over 200 factors in early commerce on Thursday, monitoring losses in index majors Infosys, ICICI Bank and M&M amid destructive cues from home and international markets.
    After opening over 200 factors larger, the 30-share BSE index reversed all its good points to commerce 216.73 factors or 0.45 per cent decrease at 48,327.33.
    Similarly, the broader NSE Nifty slipped 62.55 factors or 0.43 per cent to 14,442.25.

    Infosys was the highest loser within the Sensex pack, shedding over 3 per cent, adopted by M&M, IndusInd Bank, Maruti, Bajaj Finance, UltraTech Cement and ICICI Bank.
    On the opposite hand, ONGC, Sun Pharma, Dr Reddy’s and Kotak Bank have been among the many gainers.
    In the earlier session on Tuesday, Sensex closed 660.68 factors or 1.38 per cent larger at 48,544.06, and Nifty surged 194 factors or 1.36 per cent to complete at 14,504.80.
    Foreign institutional buyers have been web sellers within the capital market as they offloaded shares price Rs 730.81 crore on Tuesday, in line with provisional change information.
    Stock exchanges remained closed on Tuesday on account of Dr Baba Saheb Ambedkar Jayanti.
    “Amidst the negative of an alarming rise in COVID-19 cases, a relief from the market perspective is that there is no large-scale lockdown,” mentioned V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
    However, the large restriction of exercise within the economically vital state of Maharashtra is certain to have its impression on development and earnings. The market is aware of this, however what’s unknown is how lengthy will this final and the way rapidly we are able to get forward of the an infection circumstances, he added.
    Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo have been within the crimson in mid-session offers, whereas Seoul was buying and selling on a optimistic be aware.

    Equities on Wall Street too ended on a destructive be aware in in a single day commerce after Federal Reserve’s Beige Book survey on financial exercise pointed to a reasonable tempo of pick-up in financial actions to begin the yr with a slight uptick in inflation.
    Meanwhile, worldwide oil benchmark Brent crude was buying and selling flat at USD 66.58 per barrel.

  • Sensex tanks 397 factors; Nifty finishes under 15,000-mark

    Equity benchmark Sensex tumbled 397 factors on Monday, monitoring losses in index heavyweights Reliance Industries, HDFC twins and ICICI Bank amid weak macroeconomic cues.
    After gyrating 1,035.71 factors through the day, the 30-share BSE index ended 397 factors or 0.78 per cent decrease at 50,395.08. The broader NSE Nifty completed 101.45 factors or 0.67 per cent down at 14,929.50.
    Bajaj Finserv was the highest loser within the Sensex pack, shedding round 3 per cent, adopted by Bajaj Auto, Bajaj Finance, L&T, Asian Paints, Dr Reddy’s, ICICI Bank, HDFC Bank and Reliance Industries.

    On the opposite hand, Tech Mahindra, PowerGrid, IndusInd Bank, HCL Tech and NTPC have been among the many gainers.
    According to Binod Modi, Head-Strategy at Reliance Securities, home equities witnessed sharp sell-off for the second consecutive buying and selling day as mounting considerations about resurgence of COVID-19 instances in numerous elements of the nation and rising bond yields made traders jittery.
    “Further, unexpected contraction in IIP data for January 2021 and sharp spike in CPI print also weighed on sentiments,” he stated.
    Industrial manufacturing progress re-entered the destructive territory by contracting by 1.6 per cent in January, whereas retail inflation soared to a three-month excessive of 5.03 per cent in February on costlier meals objects, as per information launched put up market hours on Friday.
    Further, the wholesale price-based inflation rose for the second consecutive month in February to 4.17 per cent, as meals, gas and energy costs spiked.
    Elsewhere in Asia, bourses in Shanghai and Seoul have been within the pink, whereas Hong Kong and Tokyo ended on a constructive be aware.

    Stock exchanges in Europe have been additionally buying and selling with good points in mid-session offers.
    Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.01 per cent decrease at USD 69.21 per barrel.

  • Sensex rallies over 500 factors in early commerce; Nifty tops 15,300-mark

    Equity benchmark Sensex rallied over 500 factors in opening commerce on Friday, buoyed by good points in monetary and IT shares amid constructive world cues.
    The 30-share BSE index was buying and selling 503.28 factors or 0.98 per cent greater at 51,782.79, and the broader NSE Nifty was quoting 144.35 factors or 0.95 per cent up at 15,319.15.
    L&T was the highest gainer within the Sensex pack, rising round 2 per cent, adopted by ONGC, NTPC, HDFC Bank, SBI, IndusInd Bank, ICICI Bank, SBI, Infosys and TCS.

    On the opposite hand, Bajaj Auto, Sun Pharma, HUL and Maruti had been among the many laggards.
    In the earlier session on Wednesday, the Sensex ended 254.03 factors or 0.50 per cent greater at 51,279.51, and the Nifty rose 76.40 factors or 0.51 per cent to fifteen,174.80.
    Markets remained closed on Thursday for Mahashivratri.
    Foreign institutional buyers (FIIs) had been internet sellers within the capital market as they offered shares price Rs 15.69 crore on Wednesday, as per change information.
    According to V Ok Vijayakumar, Chief Investment Strategist at Geojit Financial Services, the ‘risk on’ in world fairness markets bought one other push with the passage of a large fiscal stimulus.
    US President Joe Biden has signed a USD 1.9 trillion American Rescue Plan which is anticipated to offer a serious enhance to the nation’s financial system.
    US equities ended with sturdy good points in in a single day commerce.
    Back house, “Nifty is again likely to reach record highs since SGX Nifty is indicating 15,400 levels. IT has been leading this leg of the rally. Now financials may catch up,” Vijayakumar stated.

    Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo had been buying and selling on a constructive observe in mid-session offers, whereas Hong Kong was within the purple.
    Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.14 per cent decrease at USD 69.53 per barrel.

  • Sensex rallies 584 factors to shut above 51,000-mark, personal banks, IT shares shine

    Benchmark BSE Sensex rallied 584 factors to shut above the 51,000-level in a unstable session on Tuesday as personal banks, IT and shopper items shares superior amid constructive world cues.
    The 30-share BSE barometer ended 584.41 factors or 1.16 per cent increased at 51,025.48 with 19 of its constituents ending within the inexperienced.
    The index had opened increased at 50,714.16 however pared beneficial properties to hit an intra-day low of fifty,396.10 in mid-session resulting from revenue reserving in vitality and infra shares.

    However, constructive world cues, a fall in US bond yields and beneficial properties in US Futures helped the index rebound and shut above the 51,000 stage.
    The broader NSE Nifty surged by 142.20 factors or 0.95 per cent to shut at 15,098.40 with 24 of its shares advancing.
    The 50-issue index touched a excessive of 15,126.85 and a low of 14,925.45 within the day commerce.
    “In a volatile day, the Indian market ended with minor positivity amid mixed global cues. Barring private banks, IT and consumer stocks, all other sectors were most impacted. Fall in US bond yields and stronger US equity futures aided Asian markets to recover from earlier losses,” Vinod Nair, Head of Research at Geojit Financial Services mentioned.
    Binod Modi, Head – Strategy at Reliance Securities commented: “Domestic equities extended gains for the second consecutive day mainly aided by favourable cues from Asian markets. However, it is financials (ex-PSU banks), which majorly supported the market’s rally today. Barring financials and IT, most of the key sectoral indices traded lower.”
    Among Sensex shares, Kotak Bank rose probably the most by 3.35 per cent. HDFC Bank spurted by 2.85 per cent whereas mortgage main HDFC superior 2.68 per cent. ICICI Bank rose by 2.8 per cent.
    Tech Mahindra, Bajaj Finance, Asian Paints, Infosys, HUL and TCS additionally gained.
    On the opposite hand, PowerGrid, ONGC, NTPC and Dr Reddy’s have been among the many laggards.In the broader market, midcap and smallcap indices declined by 0.66 per cent and 0.41 per cent as buyers opted to guide revenue after the current run-up in these shares.
    Among sectoral indices, BSE bankex, finance, IT, teck, shopper durables and FMCG indices ended with beneficial properties, whereas steel, oil and fuel, utilities, realty and energy have been within the pink.
    Ajit Mishra, VP – Research, Religare Broking mentioned, “Markets traded volatile and managed to settle with decent gains in continuation to the prevailing consolidation phase. We expect the prevailing consolidation phase to end soon however a lot depends on the performance of the global markets.”

    Elsewhere in Asia, bourses in Hong Kong and Tokyo ended on a constructive observe, whereas Shanghai and Seoul have been within the pink.Stock exchanges in Europe have been buying and selling with beneficial properties in mid-session offers.
    Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.72 per cent increased at USD 68.73 per barrel.

  • Sensex rebounds over 270 factors in early commerce; Nifty reclaims 15,000-level

    The BSE gauge Sensex rallied over 270 factors and the NSE Nifty reclaimed the important thing 15,000-level in early commerce on Monday, monitoring a strong restoration in international shares.
    The 30-share Sensex was buying and selling at 50,679.19, exhibiting an increase of 273.87 factors or 0.54 per cent.
    Likewise, the broader Nifty was quoted at 15,015.05, up 76.95 factors or 0.52 per cent.

    On the Sensex chart, ONGC, NTPC, Axis Bank, M&M, HDFC Bank and SBI have been main gainers – climbing as a lot as 4.3 per cent.
    Of the Sensex shares, 21 traded within the inexperienced.
    In different Asian markets, equities staged a robust restoration after witnessing panic sell-offs for a few classes as traders cheered the US Senate passing a USD 1.9 trillion stimulus invoice for COVID-19 reduction package deal.
    Investor worries additionally subsided after the rise in bond yields steadied and the US labour division reported stronger-than-expected jobs information for February.
    Meanwhile, international crude oil benchmark Brent Futures rose 1.49 per cent to USD 70.73 per barrel.
    On Friday, the Sensex had dropped by 440.76 factors or 0.87 per cent, and the Nifty had ended decrease by 142.65 factors or 0.95 per cent.
    On a weekly foundation, nevertheless, the Sensex had gained 1,305.33 factors or 2.65 per cent and the Nifty added 408.95 factors or 2.81 per cent.

    Foreign traders offloaded equities value Rs 2,014.16 crore on a internet foundation in Indian capital markets on Friday, in accordance with alternate information.

  • Sensex slumps over 440 factors, Nifty slips under 15,000 in early commerce

    The BSE benchmark Sensex tumbled over 440 factors and the NSE Nifty cracked under the important thing 15,000-level in early commerce on Friday consistent with a droop in different Asian markets as US bond market turmoil continued to fan investor worries globally.
    The BSE gauge Sensex was buying and selling at 50,405.99, displaying a drop of 440.09 factors or 0.87 per cent within the opening session.
    Similarly, the NSE barometer Nifty was quoted decrease by 124.75 factors or 0.83 per cent at 14,956.

    On the Sensex chart, IndusInd Bank, ICICI Bank, SBI, PowerGrid and HDFC Bank emerged as main laggards — dropping as a lot as 3 per cent.
    Of the Sensex shares, 21 traded within the pink.
    Elsewhere in Asia, fairness markets continued their decline on Friday following a retreat on Wall Street amid considerations over rising yields in bond markets.
    “The ‘bond bears vs equity bulls’ sport continues within the US market with comparable reverberations in different developed and rising markets. The extremely valued Nasdaq seems to be in a short-phase of reversion to imply, having declined 10 per cent from file highs.
    “The US 10-year yield has again spiked to 1.575 per cent giving further ammunition to bond bears,” stated V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
    Back house, each Foreign institutional traders (FIIs) and Domestic institutional traders (DIIs) turned sellers on Thursday, impacting market sentiments, he added.
    On Thursday, the Sensex had shed 598.57 factors or 1.16 per cent, and the Nifty had misplaced 164.85 factors or 1.08 per cent.
    Foreign traders had offloaded equities value Rs 223.11 crore on a internet foundation in Indian capital markets on Thursday, in response to trade knowledge.

    Meanwhile, world crude oil benchmark Brent was buying and selling 0.77 per cent greater at USD 64.32 per barrel.

  • Sensex surges over 500 factors in early commerce; Nifty tops 14,680

    The BSE benchmark Sensex rebounded over 500 factors within the opening session on Monday as traders cheered the home financial system returning to development within the October-December interval after two quarters of contraction.
    The 30-share gauge was buying and selling at 49,608.97, displaying a achieve of 508.98 factors or 1.04 per cent in early session. While the broader NSE Nifty was buying and selling larger by 153.15 factors or 1.05 per cent at 14,682.30 in opening offers.
    The Sensex rally was pushed by positive factors throughout the board as 27 constituents had been buying and selling within the inexperienced.

    On Friday, the BSE Sensex had crashed 1,939.32 factors or 3.80 per cent to finish at 49,099.99 – its worst one-day fall since May 4 final yr.
    Similarly, the broader NSE Nifty had plunged 568.20 factors or 3.76 per cent to shut the session at 14,529.15 – the largest single-day drop since March 23 final yr.
    Meanwhile, international traders bought equities price Rs 8,295.17 crore on a web foundation on Friday, as per alternate information.
    Elsewhere in Asia on Monday, shares had been buying and selling larger in afternoon commerce amid some stability in bond markets after final week’s turmoil. Further, progress within the US stimulus bundle additionally lent some assist to investor sentiments globally.
    Meanwhile, the worldwide oil benchmark Brent crude was buying and selling 0.58 per cent decrease at USD 65.59 per barrel.
    Analysts mentioned, the high-frequency indicators had been pointing in the direction of the truth that the home financial system is slowly getting into the restoration path.
    After two consecutive quarters of contraction, the Indian financial system has lastly entered an expansionary path.

    The Gross Domestic Product (GDP) grew 0.4 per cent within the October-December 2020 interval in contrast with the identical interval a yr again, information launched by the National Statistics Office on Friday confirmed.