Comprehension - Stock Market Report

1.

    Mkt rally continues; Nifty hits new peak, Sensex up 281 pts

Mumbai: Stock markets shares closed higher for the fifth consecutive day on Monday with the benchmark Sensex rising 281 points and Nifty scaling its fresh lifetime high driven by gains in financial and FMCG shares.

The 30-share BSE Sensex rose by 281.52 points or 0.39 percent to close at 72,708.16. As many as 17 Sensex shares advanced while 13 closed in the red.

After a firm start, the index hit a high of 72,881.90 in day trade. 

The broader Nifty closed at its all time high of 22,172.25 points, up by 81.55 points or 0.37 per cent from the last close.

The 50 issue barometer also scaled its intra-day record high of 22,186.65 helped by gains in pharma, banking and oil shares. As many as 27 Nifty shares posted gains while 23 ones declined.

SMR Comprehension - 2.

Mkts sustain winning run for 6th day in row

Mumbai: Benchmark sensex spurted by 349 points while Nifty scaled a fresh life- time high on the sixth straight day of gains on Tuesday, driven by buying in banking and select FMCG shares.

The 30-share BSE sensex reversed its early losses and closed higher by 349 points or 0.5% at 73,057 in a volatile trade. As many as 18 sensex shares closed in green while 12 settled in the red. AGENCIES

SMR Comrehension - 3

Sensex slides 353 pts, Nifty ends below 22,150; Asian Paints drops 4%

26 Feb 2024

The domestic stock market extended losses on Monday, dragged by select heavyweight stocks. The Nifty closed below the 22,150 mark, with demand evident in oil & gas, autos, and realty shares, while IT and metals shares declined. Although the bullish sentiment remains intact as long as the Nifty 50 holds above the 21,000 level, concerns regarding tensions in the red sea, rate cut trajectory, and valuations pose key risks for the market. Uncertainty prevails regarding the timing of rate cuts, given that central banks have historically refrained from cutting interest rates when markets were at all-time highs. The barometer index, the S&P BSE Sensex slipped 352.67 points or 0.48% to 72,790.13. The Nifty 50 Index lost 90.65 points or 0.47% to 22,122.05. Asian Paints (down 3.90%), Titan Company (down 1.95%) and Infosys (down 1.09%) were major drags. In the broader market, The S&P BSE Mid-Cap index declined 0.38% and the S&P BSE Small-Cap index shed 0.06%

The market breadth was negative. On the BSE, 1,710 shares rose and 2,268 shares fell. A total of 130 shares were unchanged.

Alkem Laboratories dropped 6.63% on reports that the income tax department's investigation into pharma major has found large-scale tax evasion by the company.

Last September, the income tax department surveyed Alkem Laboratories' offices due to suspected tax evasion. The investigation reportedly revealed alleged excessive deductions totaling over Rs 1,000 crore, particularly from manufacturing units in Sikkim. Additionally, the company made substantial payments to doctors for prescriptions, amounting to hundreds of crores. These findings may result in significant penalties for Alkem Labs, the media reports suggested.

Larsen & Toubro advanced 2.36% after the civil construction firm's construction arm secured a 'significant order' for Its Railways Strategic Business Group, to construct the Jakarta Mass Rapid Transit (MRT) project (phase 2A).

Kotak Mahindra Bank shed 105%. In respect of the proposed acquisition of the shares of Kotak Mahindra General Insurance Company (Kotak General) by Zurich Insurance Company (Zurich), the parties to the aforesaid transaction, viz, the Bank, Zurich and Kotak General have mutually agreed that Zurich will acquire 70% stake in Kotak General by way of a combination of primary and secondary acquisitions in a single tranche, for a total consideration of approximately Rs 5,560 crore.

Piramal Pharma shed 0.26%. The pharma major said that US Food and Drug Administration (USFDA) conducted a pre-approval inspection (PAI) at its Lexington facility, USA. The inspection was conducted from 20 February to 23 February, 2024 at Lexington facility, USA. At the end of inspection, USFDA issued Form-483 with 2 observations.

Transformers and Rectifiers (India) hit an upper circuit of 5% after the company said that it has received an order worth Rs 232 crore from Power Grid Corporation of India.

SJVN advanced 1% after the company said that its wholly owned subsidiary, SJVN Green Energy has signed a power usage agreement (PUA) with Jammu & Kashmir Power Corporation (JKPCL) for 300 megawatt (MW) solar power

SMR Comprehension - 4

Sensex, Nifty end lower; FMCG, IT stocks top drags

Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers.

January 20, 2024 05:32 pm | Updated 05:32 pm IST - Mumbai

Benchmark indices Sensex and Nifty pared initial gains and settled lower on Saturday due to selling in FMCG and IT shares.

The 30-share BSE Sensex fell by 259.58 points or 0.36% to settle at 71,423.65 as 24 of its components declined and six advanced.

The Nifty declined 50.60 points or 0.23% to 21,571.80.

Among the Sensex firms, Kotak Bank, PowerGrid, ICICI Bank, HDFC Bank, PowerGrid were the major gainers.

HUL, TCS, M&M, IndusInd Bank, HCL Tech were among the losers.

"Amid rising optimism about AI, U.S. markets surged over the weekend. However, domestic markets exhibited a subdued trend influenced by extended holidays, low volumes, and weekly option expiration," Vinod Nair, Head of Research, Geojit Financial Services said.

Profit booking was noted in IT and FMCG, while private banks witnessed selective buying post the recent sharp correction and stable Q3 earnings, Mr. Nair added.

Among sectors, FMCG and IT stocks suffered the most, while banks and financial services gained.

Shares of HUL and Reliance Industries were under pressure after their December quarter results.

Reliance Industries shares settled 0.80% down at ₹2,713.20 on BSE post its third quarter earnings announcement on Friday.

The company posted a 9% rise in its December quarter net profit as a planned maintenance-induced weakness in oil business earnings was offset by stability in retail and telecom verticals.

The stock of HUL was closed 3.72% down at ₹2,469.30 apiece.

Hindustan Unilever Ltd on Friday reported an 1.08% increase in consolidated net profit at ₹2,508 crore in the third quarter ended December 2023.

On Friday, the 30-share BSE Sensex jumped 496.37 points or 0.70% to settle at 71,683.23 points. The Nifty climbed 160.15 points or 0.75% to close at 21,622.40 points.

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,689.68 crore on Friday, according to exchange data.

NSE and BSE on Friday announced holding normal trading sessions on Saturday as stock markets are closed on January 22 amid a half-day holiday declared by banks. Money markets and forex trading will also be closed on Monday.