Stock Trade News

The Sensex fell over 500 points in early trade on Thursday, tracking weak cues from global markets. The index was trading at 59,850.25, down 514.09 points or 0.85 per cent. The Nifty also declined by 152.05 points or 0.85 per cent to 17,854.15.

Adani Group stocks continued to slide on Thursday, losing another Rs 1 lakh crore in market capitalisation. The group's flagship company, Adani Enterprises, fell by 5 per cent to Rs 1,719.90. Adani Ports and Special Economic Zone declined by 2.5 per cent to Rs 649.25, while Adani Power fell by 3 per cent to Rs 193.40.

The government is considering bringing forward the budget for FY24 to October 2023, instead of the usual February presentation. The move is aimed at giving more time to the government to implement the budget proposals and align the financial year with the global calendar.

A Reuters poll of economists showed that the Reserve Bank of India (RBI) is likely to raise its repo rate by 25 basis points to 6.50 per cent in April. The poll, conducted between February 28 and March 8, showed that 18 of the 25 economists surveyed expected a 25 bps hike in the repo rate.

India's retail inflation fell to 6.07 per cent in February, from 6.52 per cent in January, data showed on Thursday. The fall in inflation was driven by a decline in food prices. The food inflation rate declined to 5.85 per cent in February, from 6.07 per cent in January.

The BSE Sensex fell 213.17 points or 0.35% to close at 60,744.36, while the Nifty50 declined 63.95 points or 0.36% to 17,824.25.

The Nifty Auto index surged 2% led by gains in Maruti Suzuki, Tata Motors, and Mahindra & Mahindra.

The BSE Sensex ended flat at 60,957.43, while the Nifty50 closed at 17,888.20, down 8.85 points or 0.05%.

The BSE Sensex opened 236.99 points or 0.39% higher at 61,194.42, while the Nifty50 opened 73.30 points or 0.41% up at 17,971.60.

The BSE Sensex closed 161.71 points or 0.26% lower at 60,720.44, while the Nifty50 declined 46.60 points or 0.26% to 17,810.60.

The 30-share BSE Sensex jumped 505.16 points or 0.83 per cent to settle at 61,293.77. The broader NSE Nifty advanced 146.45 points or 0.82 per cent to end at 17,935.15.

Shares of Adani Transmission surged 20 per cent to Rs 1,422.90 on the BSE in Wednesday's intra-day trade after the company reported a consolidated net profit of Rs 476 crore for the quarter ended December 2022, registering a growth of 74 per cent year-on-year.

The Securities and Exchange Board of India (Sebi) on Wednesday proposed guidelines for the issuance and listing of green bonds in India. Green bonds are debt instruments whose proceeds are used to finance projects with positive environmental or climate benefits.

Gold prices fell by Rs 247 to Rs 56,264 per 10 gram in the Mumbai retail market on Wednesday due to profit-booking by jewellers and retailers, said HDFC Securities.

Oil prices rose on Wednesday as traders bet on improved demand from China, the world's largest crude importer, and as supply concerns lingered due to the ongoing conflict in Ukraine.

The BSE Sensex rallied over 500 points in opening deals on Tuesday, tracking positive global cues. The index climbed 612.22 points, or 1.07 per cent, to 57,921.66. The Nifty50 also gained 172.85 points, or 1.02 per cent, to 17,292.

Foreign institutional investors (FIIs) turned net buyers in the Indian equity market on Tuesday, investing Rs 2,880 crore. This comes after they sold shares worth Rs 1,792 crore on Monday.

Reliance Industries, Infosys and HDFC Bank were among the top gainers on the Sensex, rising over 2 per cent each. On the other hand, Sun Pharmaceutical Industries, Bajaj Finance and Nestle India were among the top losers.

The Indian equity market began the week on a positive note on Monday, tracking global cues. The S&P BSE Sensex rose over 200 points in early trade, while the Nifty50 index gained about 60 points. Among the sectoral indices, IT and pharma stocks were the top gainers, while metal and auto stocks were trading in the red. The positive start to the week came after the US markets closed higher on Friday, with the Dow Jones Industrial Average gaining over 100 points. The gains on Wall Street were attributed to optimism over the upcoming earnings season and hopes of a slowdown in interest rate hikes by the Federal Reserve. In Asia, most markets were trading higher on Monday, with the Hang Seng index in Hong Kong leading the gains. The Nikkei 225 index in Japan and the Shanghai Composite index in China were also trading in the green. Among the individual stocks, Infosys, TCS, and HCL Technologies were the top gainers in early trade. Tata Steel, JSW Steel, and Hindalco were among the top losers.

Foreign institutional investors (FIIs) continued to sell Indian stocks on Monday, pulling out a net Rs 6,000 crore from the domestic market. The selling by FIIs comes amid concerns over rising interest rates in the US and a strengthening dollar. FIIs have been net sellers in the Indian market for the past five consecutive months, having sold over Rs 2 lakh crore worth of stocks during this period. The selling by FIIs has put pressure on the Indian rupee, which has depreciated over 2% against the US dollar in the past month. The rupee is currently trading at around Rs 79.50 to the US dollar. Market experts believe that the selling by FIIs is likely to continue in the short term, as the US Federal Reserve is expected to continue raising interest rates to combat inflation. However, they also believe that the Indian market is fundamentally strong and is expected to recover in the long term.

The Indian rupee depreciated by 11 paise to close at 79.59 against the US dollar on Monday, tracking the strength of the greenback overseas. At the interbank foreign exchange market, the rupee opened at 79.48 against the US dollar and witnessed an intra-day high of 79.46 and a low of 79.62. The rupee has been under pressure in recent weeks due to a combination of factors, including the widening trade deficit, rising global commodity prices, and capital outflows by foreign investors. The US dollar has been strengthening against major currencies in recent months as the Federal Reserve takes a more aggressive stance to combat inflation. This has led to a sell-off in riskier assets, such as emerging market currencies, and has put pressure on the Indian rupee. Market analysts believe that the rupee is likely to remain under pressure in the near term, as the US Federal Reserve is expected to continue raising interest rates. However, they also believe that the Indian economy is fundamentally strong and is expected to recover in the long term.