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MARKET UPDATE: Sensex advanced 300 points to trade around 59,258 levels while Nifty50 climbed over 50 points to trade above 17,350 levels

MARKET UPDATE: Sensex advanced 300 points to trade around 59,258 levels while Nifty50 climbed over 50 points to trade above 17,350 levels

Wednesday, March 1, 2023

Opening Bell: Indian markets edged higher in today's( 1 March 2023) trade, amid mixed global cues. Key indices Nifty50 climbed over 50 points to trade above 17,350 levels, whereas the S&P BSE Sensex advanced 300 points to trade around 59,258 levels. Read more

Working on road map to advanced economy: FM Nirmala Sitharaman

Working on road map to advanced economy: FM Nirmala Sitharaman

Tuesday, September 6, 2022

“The next 25 years will be very critical for India. We have to work towards maintaining the growth momentum. So together with the central bank, the ministry of finance will be working out a pathway which will be predictable and consistent and which will give every stimulus required for growth of the Indian economy,” Sitharaman said while speaking at an event organised by Elara Capital. Prime Minister Narendra Modi in his address to the nation on August 15 had called upon citizens to make India a developed nation when it celebrates 100 years of Independence in 2047. Read more

ITC gains 4 percent hits 52 week high

ITC gains 4 percent hits 52 week high

Friday, April 8, 2022

The stock of FMCG major ITC hit a fresh 52-week high of Rs 265.90, up 4 percent on the BSE in Friday's intra-day trade, on the expectation of healthy earnings, against the previous close of Rs 256.60 on BSE. Market cap of the firm rose to Rs 3.26 lakh crore on BSE. The stock of the cigarettes to fast-moving consumer goods (FMCG) major has rallied 24 percent in the past six weeks. For the October-December quarter (Q3FY22), ITC had reported strong all-around revenue performance led by robust recovery across markets due to a rise in mobility and an efficient distribution system. Meanwhile, Motilal Oswal has disclosed its Q4 earnings estimates for the consumer sector. It expects ITC to report a net profit of Rs 4,076.4 crore rising 8.7% year-on-year (down 1.9% quarter-on-quarter). Net sales are expected to rise 4.1 percent Y-o-Y (down 12.7 percent Q-o-Q) to Rs 13,842.1 crore, according to Motilal Oswal. Read more

Budget 2022 updates: Sitharaman reaches Parl; Budget speech at 11 am

Budget 2022 updates: Sitharaman reaches Parl; Budget speech at 11 am

Tuesday, February 1, 2022

Finance Minister Nirmala Sitharaman will present her fourth Union Budget in Parliament at 11 am today(1st February 2022) in a paperless format. The Budget speech will be keenly watched by both domestic and foreign investors, various interest groups like farmers, crypto Investors, anxious middle class, and corporate entities, besides parliamentarians. Ahead of the Budget presentation, Sensex jumped over 700 points. led by gains in IT and banking counters. Clarity on cryptocurrency sops to real estate, and the abolition of STT would be on top of investor radar. Read more

Closing Bell:Sensex ended the session with 427-points cut at 59,037 level while Nifty gave up the 17,650-mark to end at 17,617, down 140 points

Closing Bell:Sensex ended the session with 427-points cut at 59,037 level while Nifty gave up the 17,650-mark to end at 17,617, down 140 points

Friday, January 21, 2022

In the Indian equity market all sectors, barring selective FMCG counters, slid into the negative territory for the fourth straight day today(21 January 2022) as Global headwinds weighed upon. The S&P BSE Sensex ended the session with 427-points cut at 59,037 level with 10 index constituents ending the session in the green. The 30-pack index had briefly breached below the 59,000-mark intra-day and hit a low of 58,621. On the NSE, the Nifty50 gave up the 17,650-mark to end at 17,617, down 140 points. The broader markets bled even more with both the mid and smallcap indices closing 2 percent lower each on the BSE. Overall, 2,329 stocks ended in the red on the BSE as against less than 1,048 stocks in the green. Fear gauge, India VIX, soared 6 percent to end near the 19-mark. Read more

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

Friday, January 21, 2022

The Indian benchmark indices today(21 January 2022) made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE Sensex was now at 59,180, down 284 points. This was nearly 500 points higher from its day's low. The NSE Nifty, on the other hand, was at 18,670, lower by 86 points. The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 percent), HDFC, TCS, ITC (up nearly 0,5 percent each), and PowerGrid (up 1.6 percent). On the Nifty, Hindalco, Bajaj Auto, Tata Consumer Hero MotoCorp were the additional gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr. Reddy's, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement. Sectorally, auto, and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results.

HUL reported a 17% jump in net profit at Rs 2,243 crore for Q3

HUL reported a 17% jump in net profit at Rs 2,243 crore for Q3

Thursday, January 20, 2022

Hindustan Unilever today(20th January 2022) reported a 17% jump in net profit at Rs 2,243 crore for the quarter ending December 31, 2021, as it gained market share in both urban and rural areas as India emerged from coronavirus-related lockdowns. It posted a net profit of Rs 1,921 crore in the year-ago period. Growth in the quarter was competitive and profitable with domestic consumer growth of 11%. Business fundamentals remained strong with handsome market share gains in all our divisions, both urban and rural markets and across price segments. Underlying volume growth at 2% was significantly ahead of the market, the company said in a stock exchange filing. Read more

MARKET UPDATE:Sensex added 76 points to quote at 60,084 levels while Nifty hovered around 17,900-mark

MARKET UPDATE:Sensex added 76 points to quote at 60,084 levels while Nifty hovered around 17,900-mark

Thursday, November 18, 2021

Indian benchmark indices started higher on Dalal Street today(18th Nov.2021) amid gains in PSU Bank, FMCG, and metal stocks. The S&P BSE Sensex added 76 points, or 0.13 percent, to quote at 60,084 levels in early deals while the Nifty50 hovered around 17,900-mark. In the broader markets, the BSE SmallCap index extended its outperformance into the third day, up 0.32 percent. Among individual stocks, ITC rose 1 percent and was the top performer on the Sensex index, followed by SBI, Asian Paints, Power Grid, and Titan Company. On the downside, M&M was the biggest laggard, down 1.2 percent. Shares of Vedanta, meanwhile, slipped around 2 per cent on the Nifty on profit booking after the company said it has appointed a committee of directors to evaluate and recommend a range of options and alternatives, including demergers, spin-offs, or strategic partnerships of its aluminium, iron & steel, and oil & gas businesses. Read more

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels

Tuesday, November 9, 2021

Indian benchmark indices started flat, with a negative bias, today(9th Nov.2021) amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 percent. Its NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels. Divi's Labs, ONGC, M&M, Hindalco, and Tata Motors were the top-performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards. On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 percent and 0.4 percent, respectively. Among individual stocks, TVS Motor Company surged 10 percent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business. Read more

MARKET UPDATE:BSE Sensex trading 140 points down at 58,870 level while Nifty reclaimed the 17,500 mark but down 45 points

MARKET UPDATE:BSE Sensex trading 140 points down at 58,870 level while Nifty reclaimed the 17,500 mark but down 45 points

Monday, September 20, 2021

Today's session (20th Sept.2021) was kicked off on a gap-down note and the benchmark indices recouped some losses amid buying in FMCG and IT shares. The BSE Sensex was trading 140 points down at 58,870 level while Nifty50 reclaimed the 17,500 marks but was down 45 points. Financials, private banks, and metal stocks were among the worst drags in the opening session. The broader markets, too, declined, underperforming benchmarks. Both the BSE Midcap and Smallcap indices dropped over 1 percent. In sectoral space, all indices, barring the Nifty FMCG pack, traded in the red. Nifty Metal tumbled the most, down 3 percent. Meanwhile, PSU Bank, Private Bank, Bank, and Auto indices too shed over 1 percent each.

Sensex tanks 720 pts from day's high,Nifty PSB drops 3%

Sensex tanks 720 pts from day's high,Nifty PSB drops 3%

Friday, September 17, 2021

The benchmark indices tumbled from record-high levels to snap their three-day winning run in a volatile session on Dalal Street, amid losses in RIL, IT stocks, and select banking counters. Despite a firm global market sentiment, the Indian indices settled in the red as profit-taking ensued following a steep rally in the indices which saw them hitting significant landmarks. After touching a record high of 59,737, the BSE barometer Sensex plunged 721 points from the high to end at 59,016, down 125 points. At the same time, its NSE counterpart Nifty50 settled the day 44 points down at 17,585. The 50-pack index had touched a record peak of 17,793 in the morning session. However, on the weekly basis, the benchmark indices gained, thus taking their winning run to the fourth straight week. Read more

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

Thursday, September 16, 2021

Indian benchmark indices After hitting fresh record highs in opening trade witnessed some profit-taking and turned flat. The BSE Sensex was down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 marks. It was trading flat at 17,520. Shares of FMCG major ITC witnessed a sharp rally and was the major index contributor. On the other hand, index heavyweights Infosys, TCS, HDFC Bank, and RIL were the top drags. Sectorally, the FMCG index gained the most, up 1.5 percent. The banking, auto, and realty sector were among other gainers.

IT, FMCG stocks lift Sensex 210 pts up, Nifty tops 16,600

IT, FMCG stocks lift Sensex 210 pts up, Nifty tops 16,600

Tuesday, August 17, 2021

Indian Benchmark indices turned sharply higher in the last hour of trade today(17th August 2021) amid strong gains in IT heavyweights, FMCGs, and HDFC stock. The frontline BSE barometer zoomed 210 points, or 0.4 percent, to end at 55,792 levels while the NSE's Nifty50 closed at 16,615-mark, up 52 points or 0.3 percent. In the intra-day deals, both the indices scaled new peaks of 55,855 and 16,628.5 levels, respectively. In the broader markets, the BSE MidCap index outperformed its small-cap and large-cap peers and advanced 0.7 percent. The BSE SmallCap index, meanwhile, was up 0.3 percent. Sectorally, the Nifty IT index hit a new lifetime high of 33,487 in the intra-day. It ended 2.6 percent higher at 33,415. On the downside, the Nifty Metal index skidded 2.5 percent.

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

Tuesday, August 3, 2021

Indian equities rallied today(3rd August 2021), bucking weak Asian trend, amid gains in realty, FMCG, pharma, and IT stocks. The frontline S&P BSE Sensex was trading at 53,230 levels, up 280 points while the Nifty50 index hit a fresh record peak of 15,975, up 90 points. The index is only 25 points shy of the 16,000-mark. In the broader markets, too, the BSE Mid- and SmallCap indices hit new peaks, advancing up to 0.5 percent, in intra-day trade. about seventy companies are looking to release their quarterly earnings, including Adani Ports, Adani Enterprises, Bharti Airtel, Barbeque Nation, Dabur, Inox Leisure, and Tata Consumer Products. In regards to Airtel, analysts believe the company may report stable ARPU sequentially and nearly flat revenue growth. Further global cues will continue to sway market sentiments.

Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials

Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials

Thursday, April 22, 2021

Today (22nd April 2021) from the day's low of 47,204, the benchmark S&P BSE Sensex bounced back over 900 points to hit a high of 48,143 on the back of a brisk buying in financial and metal counters. Supportive global cues and expectations that the mass vaccination drive would help curtail the raging second Covid-19 wave in the country gave ammunition to the bulls. By the close, the Sensex was at 48,081 levels, up 375 points or 0.79 percent. The broader Nifty50, on the other hand, gained 255 points higher from the day's low to settle at 14,406, up 110 points or 0.77 percent. About 18 of the 30 constituents on the Sensex and 27 of the 50 constituents on the Nifty ended the day in the green with Wipro, ICICI Bank, JSW Steel, Tata Steel, HDFC, Bajaj Auto, and BPCL topping the charts on the latter. On the Sensex, HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, and SBI were the additional gainers. All these stocks were up in the range of 2 percent to 3.5 percent. Read more

MARKET UPDATE: Sensex trading 530 points up at 46,820 levels and Nifty hovered around 13,750 level

MARKET UPDATE: Sensex trading 530 points up at 46,820 levels and Nifty hovered around 13,750 level

Monday, February 1, 2021

The markets in India were trading firm in today's(1st February 2021) late morning deals as Finance Minister Nirmala Sitharaman began her Budget 2021 speech in the Parliament. Among the headline indices, the S&P BSE Sensex was trading at 46,820 levels, up 530 points. The broader Nifty50 index hovered above the 13,750 level. IndusInd Bank rallied 7 percent and was the top Sensex gainer, followed by ICICI Bank (up 4%). Besides, Titan, State Bank of India, and HDFC rose over 1 percent, each. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Bank index, up 1.5 percent. On the other hand, the Nifty Pharma index slipped 1.4 percent. The broader markets, meanwhile, slipped into the red, with the S&P BSE MidCap and SmallCap indices down 0.1 percent, each.

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Monday, February 1, 2021

Finance Minister Nirmala Sitharaman will present her third Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched not only by the domestic and foreign investors but also by various interest groups like farmers, anxious middle class, and corporate entities. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as at one stage economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday,29th January 2021 the government tabled the Economic Survey 2020, which pegged India's real GDP growth at 11 percent in FY22. Meanwhile, the finance minister has promised a 'Budget like never before'. Read more

We kept lessons of the 2008-13 period in mind when designing the Covid stimulus: FM Nirmala Sitharaman

We kept lessons of the 2008-13 period in mind when designing the Covid stimulus: FM Nirmala Sitharaman

Wednesday, May 20, 2020

Within days of announcing a series of measures to help businesses deal with the lockdown impact, Union Finance Minister Nirmala The government kept the lessons of the 2008-13 period in mind when designing its 20 lakh crore stimulus package, finance minister Nirmala Sitharaman told explaining why it had avoided spending recklessly to revive the economy. She was referring to the program implemented in the wake of the global financial crisis and its aftermath. Replying to a specific question on whether there would be a stimulus package 6.0, after five days of back-to-back announcements last week, the FM said, “As we go along, we will see. We cannot shut the doors.” Read more

FMCG shares gain on govt's relief package announced by Nirmala Sitharaman

FMCG shares gain on govt's relief package announced by Nirmala Sitharaman

Thursday, March 26, 2020

Shares of fast-moving consumer goods (FMCG) companies gained up to 8 per cent on the National Stock Exchange (NSE) on Thursday after Finance Minister Nirmala Sitharama announced an economic package to deal with Covid-19 impact. The government would provide a relief package of Rs 1.7 trillion under the Pradhan Mantri Garib Kalyan Scheme to the underprivileged, poor and migrant workers. Amid the COVID-19 outbreak, migrant workers in major cities have been suffering to obtain essential supplies since the 21-day lockdown began. Under Pradhan Mantri Garib Kalyan Anna Yojana scheme an additional 5 kg of rice or wheat will be given over the next three months, along with an additional 1 kg of preferred pulses to each household. Among individual stocks, Marico and Godrej Consumer Products have moved higher by up to 8 per cent, while ITC, Hindustan Unilever, Emami, Dabur India, Colgate Palmolive (India), and Britannia Industries were up in the range of 5 per cent to 7 per cent on the NSE.

Key Points announced by Finance Minister Nirmala Sitharaman

Key Points announced by Finance Minister Nirmala Sitharaman

Tuesday, March 24, 2020

Finance minister Nirmala Sitharaman announced key points in view of the coronavirus pandemic spreading its wings and impacting the economy. *Last date for filing March, April and May 2020 GST returns extended to June 30, 2020. For delayed payments made till June 30, the interest rate has been reduced to 9% from 12%. *For a delayed deposit of TDS, interest has been reduced to 9 % from 18% *The deadline for many Acts and schemes, including Sabka Vishwas Scheme, has also been pushed to 30 June 2020. *Aadhaar-PAN linking deadline extended to Jun 30. *Charges on cash withdrawal from other bank ATMs and penalties for non-maintenance of minimum balance in bank savings accounts have been waived for 3 months. The bank charges for digital trade transactions have also been reduced.

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