A benchmark index of Indian equities markets was trading up 50.34 points in the pre-afternoon trade session Wednesday, as healthcare and metal stocks gained.
healthy buying was observed in healthcare, metal and bank stocks, while selling pressure was seen in information technology (IT), technology, entertainment and media (TECK) and fast moving consumer goods (FMCG) scrips.
The benchmark BSE Sensex recovered over 103 points in early trade today on increased foreign funds inflow amidst the IMF’s forecast of better growth prospects for India in 2014.
The 30-share barometer rose by 103.13 points, or 0.46 per cent, to 22,446.58 with stocks of healthcare, auto, capital goods, metal and banking sectors leading the gains. The index had lost 208.05 points in the previous three sessions.
Similarly, the wide-based National Stock Exchange index, Nifty, gained 35.40 points, or 0.53 per cent, to 6,730.45.
Last May, after the US Federal Reserve first announced a likely roadmap for Quantitative Easing (QE) taper, Morgan Stanley labelled India as a “fragile five” club member with other emerging economies like Turkey, South Africa, Brazil and Indonesia. Emerging markets were bound to be hit with the withdrawal of cheap liquidity from the system.
In choppy trade in line with local equities, the rupee today closed lower by three paise at 60.11 against the dollar.
A weak dollar overseas weighed against the rupee, while continued capital inflows kept the fall under control, a forex dealer said.
At the Interbank Foreign Exchange (Forex) market, the local unit resumed strong at 59.90 a dollar from last weekend’s
close of 60.08.
It improved further to a high of 59.78 on initial firmness in domestic stocks.
A benchmark index of Indian equities markets was trading 111.87 points or 0.50 percent down in the late afternoon session Monday, as consumer durables, capital goods and bank stocks declined.
Markets were cautious as the five-week-long polling exercise began Monday for the general election.
The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 22,355.56 points, was trading at 22,247.63 points around 1.40 p.m., down 111.87 points or 0.50 percent from the previous day’s close at 22,359.50 points.
The BSE benchmark Sensex today fell over 39 points in early trade, extending losses for the third straight session as funds and retail investors engaged in reducing positions amid a weak trend in global markets.
The 30-share barometer, which had lost 200 points in the past two sessions, fell by 39.77 points, or 0.17 per cent, to 22,319.73
Stocks of consumer durable, IT, tech, bank and capital goods sectors declined due to profit-booking.
Similarly, the wide-based National Stock Exchange index Nifty fell by 3.50 points, or 0.05 per cent, to 6,690.85.
Foreign direct investment (FDI) in the services sector declined by about 61 per cent year-on-year to USD 1.8 billion during April-January.
The services sector, which includes banking, insurance, outsourcing, R&D, courier and technology testing, had received FDI worth USD 4.66 billion during April-January 2013, according to data from the Department of Industrial Policy and Promotion.
Industry experts say foreign investment may increase after the formation of the new government, which is expected in May.
India’s foreign exchange (forex) reserves soared by $5.03 billion to $303.67 billion for the week ended March 28, Reserve Bank of India (RBI) data showed.
The forex reserves have soared past $300 billion mark for the first time since December 2011.
This is the fifth consecutive week of increase in the country’s forex reserves as overseas investors poured in money in local bonds and stock markets. The forex reserves had risen by $1.34 billion and $1.83 billion in the previous two weeks.
The rupee today gained eight paise to close at 60.08 against the dollar on fresh selling of the US currency by exporters and some banks notwithstanding weakness in local equities and firm greenback overseas.
At the Interbank Foreign Exchange (Forex) market, the domestic unit resumed weak at 60.28 from previous close of 60.16.
It even touched 60.39 on dollar demand from importers. Soon, it started recovering the lost ground and finished the day at 60.08, rise a of eight paise from its previous close.
The BSE benchmark index Sensex today fell further by 149 points on sustained selling by funds in auto and IT stocks, judging the recent rally an overdone.
The 30-share index, which had slipped from record levels by 42 points in the previous sessions, fell further by 149.57 points, or 0.66 per cent, to close at 22,359.50 points.
The broad-based Nifty of the National Stock Exchange fell by 41.75 points, or 0.62 per cent, to 6,694.35.
Markets today retreated from all- time high levels, with BSE benchmark Sensex closing over 42 points lower to register the first fall in seven days on profit-booking in banking, refinery and capital goods shares.
In early trade, the bellwether index soared to all-time high of 22,620.65 on initial buying on the back of foreign capital inflows. The is the ninth day in a row the key index is registering a fresh life-time high intra-day.
In choppy trade, it declined to day’s low of 22,369.28 before settling at 22,509.07, a loss of 42.42 points or 0.19 per cent from its previous close.
The benchmark BSE Sensex declined to 22,514.30 in morning trade today after touching another intra-day record-high of 22,620.65.
The NSE Nifty also eased by 9.65 points, or 0.14 per cent, to 6,742.90 after registering an all-time high of 6,776.75 earlier in the day.
However, foreign institutional investors (FIIs) continued their buying spree and invested net Rs 594.67 crore yesterday, as per the provisional data from the stock exchanges.
Continuing their record-setting spree, the benchmark BSE Sensex and NSE Nifty climbed to hit new record-highs in early trade today on sustained foreign fund inflows amid a firming trend overseas.
The 30-share Sensex shot up by 69.16 points, or 0.30 per cent, to quote at yet another record-high of 22,620.65, surpassing its previous intra-day record high of 22,592.10 touched yesterday.
Also, the 50-share NSE Nifty gained 24.20 points, or 0.35 per cent, to touch a new record-high of 6,776.75.
The BSE benchmark Sensex today surpassed the 22,500-level to set a new closing high for the sixth day in succession on the back of persistent foreign capital inflows and positive global cues.
The barometer opened the day on a stronger note and spurted further to its all-time record of 22,592.10 intra-day, with realty, refinery, healthcare, capital goods, power and consumer durable counters attracting buying.
A benchmark index of Indian equities markets touched a record high of 22,592.10 points for the eighth consecutive day Wednesday, surpassing the high of 22,485.77 points it touched Tuesday.
Good buying was observed in the healthcare, auto, IT and consumer durables sectors, while selling pressure was seen in fast moving consumer goods (FMCG) and metal sectors.
The benchmark BSE Sensex touched a fresh intra-day high of 22,592.10 in morning trade today on persistent buying in auto, consumer durable and IT stocks amid sustained foreign capital inflows and firm global cues.
Foreign institutional investors (FIIs) continued their buying spree and bought shares worth a net Rs 385.66 crore yesterday, as per provisional data from the stock exchanges.
The benchmark BSE Sensex gained over 130 points to hit a fresh high of 22,576.50 in early trade today on continued capital inflows by funds and retailers, tracking firm global cues.
Hitting a new record-high for the eighth straight session, the 30-share barometer surged by 130.06 points, or 0.58 per cent, to hit 22,576.50, surpassing its previous high of 22,485.77 reached yesterday.
All the sectoral indices, led by consumer durables, capital goods, auto and banking were trading in the positive zone with gains up to 0.98 per cent.
Indian stock markets’ key indices – Sensex and Nifty – were range-bound with a negative bias Tuesday after the Reserve Bank of India (RBI) left key interest rates unchanged, as expected.
The 30-scrip S&P Sensex (sensitive index) of the Bombay Stock Exchange (BSE), which opened higher at 22,455.23 points, touched a new record high of 22,485.77 points intra-day.
However, the markets pared the gains and the Sensex was trading at 22,316.96 points at early afternoon session, down 69.31 points or 0.31 percent from its previous day close at 22,386.27 points.
Commencing the new fiscal 2014-15 on a positive note, the BSE Sensex today gained over 75 points in early trade on sustained buying by funds and retail investors ahead of the RBI’s policy review.
Continuing its winning streak, the 30-share index rose further by 75.48 points, or 0.34 per cent, to trade at 22,461.75 points, with all sectoral indices led by consumer durables, oil & gas and auto trading in positive zone with gains up to 1.34 per cent.
The Sensex gained over 1,265 points, or nearly 6 per cent, in the last month.
Continuing its record-setting spree, the benchmark BSE Sensex hit a new lifetime high of 22,464.86 in opening trade today on strong rally in power, oil & gas, auto, banking and PSU stocks, driven by sustained capital inflows.
The 50-share NSE Nifty too scaled a new high of 6,728.85 by surging 32.95 points, or 0.49 per cent.
The 30-share Sensex rose by 124.89 points, or 0.55 per cent, to trade at an all-time high of 22,464.86, surpassing its previous intra-day record high of 22,363.97 reached on March 28.
The Chinese yuan weakened 31 basis points to 6.1521 against the US dollar Monday, according to the China Foreign Exchange Trading System.
In China’s foreign exchange spot market, the yuan is allowed to rise or fall by 2 percent from the central parity rate each trading day, reported Xinhua.
The central parity rate of the yuan against the US dollar is based on a weighted average of prices offered by market makers before the opening of the interbank market each business day.
———–IANS
he benchmark BSE Sensex surged to a new record-high by gaining over 146 points to 22,360.44 in early trade today on sustained buying by funds and retailers amid a firm trend on other Asian bourses.
The 30-share index climbed by 146.07 points, or 0.66 per cent, to 22,360.44 with all sectoral indices, led by realty and banking stocks, rising up to 1.28 per cent.
On similar lines, the National Stock Exchange index Nifty rose to another record-high by gaining 43.20 points, or 0.65 per cent, to 6,684.95.
The BSE benchmark Sensex today rose to a fresh lifetime closing high of 22,214.37 points on sustained FII buying in banking and oil & gas shares amid hopes that the economy would be on recovery path soon and the Reserve Bank will hold interest rates steady.
The 30-share Sensex touched all-time high of 22,307.74 intra-day. This is the fourth day in succession that the key index has risen to record high levels intra-day.
The BSE barometer moved for most of the day in the positive terrain before settling at 22,214.37, up 119.07 points or 0.54 per cent from its previous close.
The benchmark index Sensex continued its record setting spree for the fourth straight day as buying by FIIs in banking and oil & gas stocks pushed the barometer up by 119.07 points to close at fresh all-time high of 22,214.37 today.
The Nifty index of the National Stock Exchange too bettered its record closing level by 40.35 points, or 0.61 per cent, at 6,641.75 points.
The 30-share Sensex touched a record intra-day peak level of 22,307.74, while Nifty shot to intra-day high of 6,673.95 points.
The BSE Sensex and NSE Nifty climbed to their all-time high in late morning trade today on the back of short-covering by speculators in view of the last day of futures and options March contract amid persistent foreign capital inflows.
The 30-share index resumed higher at 22,116.23 and firmed up further to an all-time high of 22,204.94 before quoting at 22,179.22 at 1000 hours.
It showed a rise of 83.92 points, or 0.38 per cent, from its last close.
Shares of realty, power, auto and refinery sectors were the major gainers.