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Sensex, Nifty end higher, led by IT and financial stocks

VCCircle

VCCircle · 1y ago

Sensex, Nifty end higher, led by IT and financial stocks

Indian shares closed higher on Tuesday, driven by IT and financial stocks, as expectations of an aggressive rate cut by the US Federal Reserve in September boosted sentiment and sparked a global equities rally. The NSE Nifty 50 index rose 0.51% to 24,698.85, and the S&P BSE Sensex settled 0.47% higher at 80,802.86. IT companies saw gains of 0.81% and reached a record high, while financial services and private banks increased by 0.8% to 1.2%. Investors are now waiting for the minutes of the latest Fed policy meeting and Fed Chair Powell's address for further insights.

Related News

Sensex, Nifty end at 3-week low as financials, IT fall in run-up to election outcome

VCCircle

VCCircle · 1y ago

Sensex, Nifty end at 3-week low as financials, IT fall in run-up to election outcome

Indian stock markets closed at a three-week low as financial stocks and IT stocks declined ahead of the election outcome. The Nifty 50 index fell 0.8% while the Sensex dropped 0.9%. Financial services stocks fell 1.65%, with HDFC Bank losing 1.5%. The election outcome has generated uncertainty among investors, leading to higher volatility. IT stocks, which are sensitive to US interest rate cuts, also declined 1%. Some stocks, however, fared well, such as Hindalco Industries and Paytm, while Prestige Estates Projects recorded a quarterly profit slump.

Sensex, Nifty recover from election slump to end at record levels

VCCircle

VCCircle · 1y ago

Sensex, Nifty recover from election slump to end at record levels

Indian stock markets, the Sensex and Nifty, rebounded from election-related losses to close at record highs. The Nifty rose 2.05% to 23,290.15 points, while the Sensex increased by 2.16% to 76,693.36. Domestic inflows, political stability and expectations of faster economic growth contributed to the positive sentiment. The recovery rally was also supported by the Reserve Bank of India raising its GDP growth forecast for the fiscal year to 7.2% and leaving the key borrowing rate unchanged. All major sub-indexes ended higher, led by IT stocks, and Wipro gained 5.1% after securing a $500 million order.

Sensex, Nifty have a muted end to 2024 but log ninth annual rise

VCCircle

VCCircle · 8m ago

Sensex, Nifty have a muted end to 2024 but log ninth annual rise

Indian benchmark indexes Sensex and Nifty ended the year muted despite recording a ninth consecutive annual rise of 8.5% in 2024. The Nifty 50 closed flat at 23,644.8 points, while the BSE Sensex dropped by 0.14% to 78,139.01. The decline was primarily due to a drop in IT stocks, influenced by higher U.S. Treasury yields, making emerging markets less attractive. The small-cap sector rose, while midcaps remained flat amid broader Asian market declines.

Sensex, Nifty end at 2-week high, rally fuelled by IT stocks, inflation data

VCCircle

VCCircle · 1y ago

Sensex, Nifty end at 2-week high, rally fuelled by IT stocks, inflation data

Indian shares surged to a two-week high, led by IT stocks, following weaker-than-expected US inflation data that raised hopes for interest rate cuts. The NSE Nifty 50 rose 0.92% to 22,403.85 points, while the S&P BSE Sensex settled 0.93% higher at 73,663.72, marking the highest daily percentage gain since 29 April. IT stocks in the US-rate sensitive IT sector added 1.66%. The positive momentum led to gains in other sectors, with Mahindra and Mahindra beating profit estimates and Bharti Airtel reaching an all-time high following expected tariff hikes.

Nifty, Sensex close near flatline; Bank Nifty hits fresh high of 51,900

Money Control

Money Control · 1y ago

Nifty, Sensex close near flatline; Bank Nifty hits fresh high of 51,900

On June 19, the Indian stock market experienced a choppy and volatile trading session, with Sensex and Nifty ending nearly flat. The Sensex closed up 0.05 percent at 77,337, while the Nifty 50 was down 0.2 percent at 23,521. Banking and IT stocks led the gains in the Nifty 50, while construction and energy stocks declined. Bharti Airtel, Maruti Suzuki, and Titan were among the worst-hit stocks. The volatility index, India VIX, rose nearly 6 percent to 13.7. Investors are now looking forward to the Union Budget in July.

Sensex, Nifty rebound from day's low to hit fresh record high minutes before close

VCCircle

VCCircle · 1y ago

Sensex, Nifty rebound from day's low to hit fresh record high minutes before close

Indian shares rebounded in a volatile session, with the Nifty 50 index rising 0.74% to a record closing high and the BSE Sensex ending 0.74% higher. Information technology stocks led the gains, with IT stocks jumping 1.94% after three consecutive sessions of losses. The market is expected to continue offering buying opportunities for attractive stocks, although profit-taking at high levels is anticipated. Additionally, ITC rose 2.8% after reports of its acquisition of a 47% stake in Prataap Snacks, boosting its shares.

Financials, banks lead Sensex, Nifty to end at 2-week high

VCCircle

VCCircle · 1y ago

Financials, banks lead Sensex, Nifty to end at 2-week high

Indian benchmarks, Sensex and Nifty, closed at a two-week high fueled by a surge in financial and bank stocks. The Nifty 50 index rose by 0.8% and the Sensex gained 0.9%. Financials gained approximately 2% and banks rose by 1.7%, making them the top sectoral gainers. Private lender HDFC Bank climbed 2.3% and ICICI Bank closed at a record high, while Amara Raja Energy and Mobility surged 19% on signing a licensing deal. Analysts anticipate continued buying in financial and bank stocks due to their underperformance this year.

Nifty 50 closes at new high, records longest weekly rising streak of 2024

VCCircle

VCCircle · 1y ago

Nifty 50 closes at new high, records longest weekly rising streak of 2024

India's Nifty 50 index reached a new high and recorded its longest weekly rising streak of the year. Energy stocks offset the decline in HDFC Bank, pushing the Nifty 50 to a 0.09% gain, while the S&P BSE Sensex dipped 0.07%. Both indexes settled at record closing highs for the majority of the week, with the Nifty 50 adding 1.2% overall. IT stocks, including Infosys and Tata Consultancy Services, led the gains with a weekly increase of 4.3%, supported by soft US economic data and expectations of a rate cut in September.

Sensex, Nifty end higher for second straight week, propelled by gain in financial stocks

VCCircle

VCCircle · 1y ago

Sensex, Nifty end higher for second straight week, propelled by gain in financial stocks

Indian shares had a positive week, with the Nifty 50 index reaching record highs on all five days due to a rise in financial stocks. Despite a slight dip on Friday, the Nifty 50 and BSE Sensex gained 0.78% and 1% respectively for the week. The strong performance is attributed to factors such as strong corporate profitability and robust domestic inflows. Financial and consumer stocks performed well, while IT stocks saw losses. The rally is expected to continue leading up to the general elections in India later this year.

Sensex, Nifty marginally down on profit booking; banking stocks decline

Money Control

Money Control · 1y ago

Sensex, Nifty marginally down on profit booking; banking stocks decline

Sensex and Nifty 50 opened lower on June 11 due to profit booking after last week's rally. Telecommunications and financial services stocks led the decline in Nifty, while power and construction stocks gained. Market experts suggest that while the broader trend remains positive, some consolidation or a pullback move may occur. The overall market sentiment is bullish, supported by policy continuity and improved corporate earnings. Market participants will also be monitoring the US Consumer Price Index report and the conclusion of the Fed's policy meeting for indications on future interest rate changes.

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