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After several days of impressive gains, Indian stock indices saw some correction on September 27, 2024, as investors booked profits following a prolonged rally. The <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword>, which briefly touched the 86,000 mark during the trading session, closed the day slightly lower at 85,571.85 points, down by 264.27 points or 0.31%. Similarly, the <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> index, which reached a lifetime high of 26,277.35, eventually closed in the red at 26,175.15 points, down by 40.90 points or 0.16%. Market participants were primarily focused on locking in gains after the indices reached record highs. Sectoral performance saw a divergence, with banking, financial services, media, and real estate stocks facing pressure. <keyword id="19969359" type="General" weightage="20" keywordseo="vinod-nair" source="keywords">Vinod Nair</keyword>, Head of Research at <keyword id="19933343" type="General" weightage="20" keywordseo="geojit-financial-services" source="keywords">Geojit Financial Services</keyword>, pointed out that after the recent surge, "the benchmark indices experienced a sideways movement today as investors engaged in profit booking at elevated levels." He further added that market participants are eagerly awaiting the second-quarter earnings report, which could provide clarity on future earnings potential. <h2>Global factors and FPI activity</h2>One of the key drivers behind the <keyword id="6357440" type="General" weightage="20" keywordseo="stock-market" source="Orion">stock market</keyword> rally in recent weeks has been the US Federal Reserve’s decision to loosen its monetary policy, with a significant 50-basis-point cut in interest rates. This move has resulted in a flow of capital from the US to markets like India, where policy rates are higher, thus providing attractive returns. The looser monetary policy in the US has encouraged foreign portfolio investors (FPIs) to continue investing in Indian equities. FPIs have remained net buyers in India for the fourth consecutive month, further supporting the stock indices. As per data from the <keyword id="20070086" type="General" weightage="20" keywordseo="national-securities-depository-limited" source="keywords">National Securities Depository Limited</keyword> (NSDL), FPIs have purchased Indian stocks worth ₹48,822 crore in September alone, a trend that has bolstered market confidence. The strong FPI inflows reflect optimism about India's economic prospects and its equity market returns. <h2>Sectoral performance and outlook</h2>Despite the overall market decline, the performance varied across different sectors. Public sector banks, defence, and railway stocks, which had seen significant buying interest earlier, took a backseat as pharma, private banks, and mid-size IT companies began to attract attention due to their appealing valuations. These sectors are now expected to drive the next market phase in the coming quarters, according to Krishna Appala, Senior Research Analyst at Capitalmind Research. The markets traded in a narrow range for most of the day, with little overall movement despite positive global cues. An early rebound in the IT sector briefly boosted the indices, but the gains were short-lived. The broader indices, including the Nifty and Sensex, remained largely flat, echoing the sluggish performance of heavyweight stocks. Ajit Mishra, Senior Vice President of Research at Religare Broking, noted that "sector-wise, pharma and energy posted solid gains, while banking and real estate sectors saw profit booking." Looking ahead, Mishra maintained a bullish outlook on the markets, advising investors to use periods of consolidation or dips to accumulate quality stocks. He added that, in the absence of any significant domestic triggers, global markets will likely set the direction for Indian equities. On the Nifty index, he anticipated strong support around the 25,900-26,000 zone, with an upside target at 26,500. <h2>Technical insights</h2>Hrishikesh <keyword id="23343291" type="General" weightage="20" keywordseo="yedve" source="keywords">Yedve</keyword>, AVP Technical and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd., shared his technical analysis of the <keyword id="20105832" type="General" weightage="20" keywordseo="nifty-and-bank-nifty" source="keywords">Nifty and Bank Nifty</keyword> indices. He observed that while the Nifty started the day on a flat note and registered a new lifetime high, it eventually faced profit booking and closed marginally lower. "Technically, the index on a daily scale has formed a small red candle, but on the weekly scale, it has formed a big green candle," Yedve explained. He added that as long as Nifty holds above the 26,000 level, a "buy on dips" strategy should be followed, with an immediate short-term target of 26,500. On the Bank Nifty front, Yedve pointed out that the index started on a weak note and remained under pressure throughout the day, closing at 53,834. He highlighted the formation of a bearish Marubozo candle on the daily chart, which signals potential short-term weakness. However, on the weekly scale, Bank Nifty remains above the breakout point of a rounding bottom pattern, indicating strength. "In the short term, Bank Nifty may witness consolidation or profit taking, but any dip around 53,350-53,400 will offer fresh buying opportunities," Yedve advised. <h2>Market wrap-up and outlook</h2>Reflecting on the week’s performance, <keyword id="23343292" type="General" weightage="20" keywordseo="amol-athawale" source="keywords">Amol Athawale</keyword>, VP-Technical Research at Kotak Securities, noted that the benchmark indices had maintained positive momentum, with the Nifty ending 1.5% higher and the Sensex gaining over 1,030 points. <keyword id="20102108" type="General" weightage="20" keywordseo="metal" source="keywords">Metal</keyword> and auto stocks were the standout performers, with the Metal index rising by 7% and the Auto index by 4.5%. Athawale highlighted the importance of the Nifty and Sensex breaching key resistance levels of 26,000/85,000 last week, which has provided a boost to market sentiment. Technically, Athawale pointed to the formation of a bullish candle on the weekly charts and an uptrend continuation pattern on the daily and intraday charts, signalling a potential continuation of the rally. However, he cautioned that "buying on dips and selling on rallies would be the ideal strategy for short-term traders." He identified 26,100/85,300 as crucial support zones for the Nifty and Sensex, with resistance expected around 26,400-26,500/85,900-86,300. As for Bank Nifty, Athawale described the medium-term outlook as bullish but noted that overbought conditions could lead to range-bound activity in the near term. He suggested that 53,500-53,100 would serve as key support zones, while profit booking could occur near 54,500-54,800. (With inputs from agencies)

Indian markets ease as profit booking follows record-breaking streak

It was a lackluster <keyword id="19940291" type="General" weightage="20" keywordseo="Diwali" source="keywords">Diwali</keyword> for <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword>, with both indices closing the day in the red. While Nifty closed at 24,205.35 points, down by 0.56%, Sensex dipped around 553 points to end Thursday at 79,389.06 points. Experts noted that India needs measures on both fiscal and monetary fronts to boost growth. 34 of Nifty50 stocks saw declines, while the remaining 16 saw advances. On Sensex, only 4 scrips ended their day in the green, while 26 others remained in red. "Happy Diwali and Shubh Samvat 2081. We are going into Samvat 2081 with a consensus that markets will be challenged and will mean revert, leading to an underpowered year coming up. Predictions are at best intelligent guesstimates, so we will refrain from that. What is clear is that some countercyclical measures are needed from India, both on the fiscal and monetary front, to tackle the issue of "not as sharp growth in aggregate demand," Ajay Bagga, Banking and Market Expert told ANI. He further added, "The festival season is key to the annual consumption numbers, and the combination of 35 lakh marriages and around Rs 4.5 lakh crores of private consumption expenditure is expected to provide some relief from a slowing growth trajectory.". Cipla (up by 9.5%), LT (up by 6.23%), ONGC (up by 2.04%), Dr. Reddy (up by 1.93%), and Mahindra and Mahindra (up by 1.61%) were among the day's top gainers. HCL Tech, Tech Mahindra, TCS, Asian Paints, and Infosys were the leading laggards on NSE. As for sectoral indices, IT declined by over 3% during the day, while media, pharma, and healthcare inched up by over 1% each. Smallcaps had a gala day on the bourses today, rising by over 1%. Nifty microcaps 250 also jumped by 2.14% today. Hrishikesh Yedve, AVP Technical, and Derivatives Research at Asit C. Mehta Investment Intermediates Ltd, said that “Nifty opened flat and traded within a narrow range, ending the day with a negative close at 24,205. Notably, the <keyword id="19908884" type="General" weightage="20" keywordseo="smallcap" source="keywords">Smallcap</keyword> 100 index outperformed the benchmark, gaining about 1.15%. Meanwhile, <keyword id="20110975" type="General" weightage="20" keywordseo="india-vix" source="keywords">INDIA VIX</keyword>, which initially surged around 4%, settled up by 0.35% at 15.57, indicating a slight cooling of volatility.". Hefty selling by <keyword id="19950996" type="General" weightage="20" keywordseo="FIIs" source="keywords">FIIs</keyword> continued well into the last day of the month, with foreign investors selling stocks worth Rs 4,613.65 crore on Wednesday. So far this month, FIIs have offloaded a staggering Rs 1,08,632.59 crore worth of stocks in <keyword id="19991358" type="General" weightage="20" keywordseo="Indian-markets" source="keywords">Indian markets</keyword>. DIIs, on the other hand, purchased Rs 1,03,740.09 crore worth of stocks during the month. Rajesh Bhosale, Equity Technical Analyst, Angel One, explained that as October concluded, it marked a challenging month for bulls, erasing gains accumulated over the past two months, with Nifty dropping more than 6%, one of the steepest monthly declines in recent times, which has impacted the monthly chart's structure. "Throughout the week, the 24,100–24,000 zone provided some support due to oversold conditions, but the index faced persistent resistance on attempted rebounds. Despite multiple efforts, prices couldn’t surpass the 24,500 level. A strong close above this range is needed before considering aggressive positions, as the market seems poised for a phase of high volatility, he continued. "The banking sector, which has shown relative strength but stalled at key levels, will be crucial in determining the market’s next move. Traders should keep a close eye on this sector for guidance. Notably, the week saw improved market breadth with several individual stocks posting notable gains. However, a selective approach remains essential in this volatile environment", continued Bhosale. The immediate focus is on the core personal consumption expenditures (PCE) data due later in the day to assess the Fed's policy stance ahead of the next rate decision on Nov 7. Traders see a nearly 95% chance of a quarter-basis-point Fed rate cut next week, the CME FedWatch tool showed.

Nifty and Sensex end this Diwali in red, muhurat trading to take place tomorrow

<ul><li>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in large stocks.</li><li><keyword id="19896380" type="General" weightage="20" keywordseo="Reliance-Industries" source="keywords" meta.keywordsubtype="org" meta.entityname="Reliance Industries" meta.hostid="261" meta.entityid="Reliance Industries">Reliance Industries</keyword>, <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="ICICI Bank" meta.hostid="261" meta.entityid="ICICI Bank">ICICI Bank</keyword> and <keyword id="19895995" type="General" weightage="20" keywordseo="HDFC-Bank" source="keywords" meta.keywordsubtype="org" meta.entityname="HDFC Bank" meta.hostid="261" meta.entityid="HDFC Bank">HDFC Bank</keyword> recorded heavy selling.</li><li>The BSE <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> tumbled 1,272.07 points or 1.49% to settle at 84,299.78.</li></ul>Equity benchmark indices tumbled nearly 1.5% on Monday due to heavy selling in frontline stocks Reliance Industries, ICICI Bank and HDFC Bank amid rising geopolitical risks in the Middle East and weakness in Japanese markets. Besides, profit-taking after a record-breaking rally and foreign fund outflows added to the gloom, analysts said. The BSE Sensex tumbled 1,272.07 points or 1.49% to settle at 84,299.78. The NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> tanked 368.10 points or 1.41% to 25,810.85. Among the 30 Sensex firms, Reliance Industries and Axis Bank declined over 3% each. ICICI Bank, Nestle, Tech Mahindra, Mahindra &amp; Mahindra, Maruti, Bajaj Finserv, State Bank of India and Tata Motors were the other major laggards. In contrast, JSW Steel, NTPC, Tata Steel, Titan and Asian Paints were the gainers. "Global markets turned topsy-turvy under the threat of rising geopolitical risk in the Middle-East and plausible increase in Yen interest rate which can reduce cross country investments in equity. On the contrary, the Chinese market had a resurgence due to a large stimulus package and cheap valuation. India also weakened under the global pressure and premium valuation while metals are expected to outperform in the near-term," said Vinod Nair, Head of Research, Geojit Financial Services. “The domestic benchmark indices opened negatively, aligning with weak Asian cues. Nifty started the day with a gap down, remained under pressure throughout the session, and ultimately closed on a negative note at 25,811. The volatility index, INDIA VIX, surged by 6.89%, settling at 12.79, indicating a rise in market volatility,” said Hrishikesh Yedve, AVP Technical and Derivatives Research at Asit C. Mehta Investment Interrmediates. Japan's benchmark Nikkei 225 index tanked nearly 5% on Monday. The Shanghai Composite index surged 8% amid fresh stimulus measures announcement. European markets were trading lower. The US markets ended on a mixed note on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,209.10 crore on Friday, according to exchange data. Global oil benchmark Brent crude declined 0.19% to USD 71.84 a barrel. The BSE benchmark Sensex declined 264.27 points or 0.31% to settle at 85,571.85 on Friday. During the day, it climbed 142.13 points or 0.16% to reach a new record intra-day peak of 85,978.25. The Nifty dipped 37.10 points or 0.14% to 26,178.95 after rising 61.3 points or 0.23% to an all-time intra-day peak of 26,277.35 during the session. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-october-2024/slidelist/113809612.cms">Upcoming cars launching in India in October 2024</a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-october-2024/slidelist/113804125.cms">Upcoming smartphones launching in India in October 2024</a> <a href="https://www.businessinsider.in/stock-market/news/krn-heat-exchanger-ipo-allotment-check-allotment-status-gmp-listing-date-and-more/articleshow/113801258.cms">KRN Heat Exchanger IPO allotment – Check allotment status, GMP, listing date and more</a>

Sensex, Nifty tumble nearly 1.5% as bank stocks slump on weak Japanese markets

<ul><li><keyword id="19896382" type="General" weightage="100" keywordseo="Sensex" source="keywords">Sensex</keyword> scaled the 85,000 level and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> breached the 26,000 mark for the first time.</li><li>The markets closed flat on Tuesday after a volatile session.</li><li>While Sensex reached an all-time intra-day peak of 85,163.23, <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> declined by 0.02%.</li></ul>Sensex scaled the 85,000 level and Nifty breached the 26,000 mark for the first time before paring gains to close flat in a volatile session on Tuesday, dragged by losses in <keyword id="19931572" type="General" weightage="20" keywordseo="FMCG" source="keywords">FMCG</keyword> and select <keyword id="20560617" type="General" weightage="20" keywordseo="banking-shares" source="keywords">banking shares</keyword>. The 30-share BSE benchmark declined by 14.57 points or 0.02% to settle at 84,914.04, snapping its three-day record-breaking run. China announcing stimulus measures to bolster its economy fuelled metal shares. In the morning trade, the 30-share BSE Sensex scaled the 85,000 level, jumping 234.62 points or 0.27% to scale a new all-time intra-day peak of 85,163.23. The index, however, hit a low of 84,716.07 in the afternoon session due to profit-taking at record levels. Selling in <keyword id="20002610" type="General" weightage="20" keywordseo="Hindustan-Unilever" source="keywords">Hindustan Unilever</keyword>, Kotak Mahindra Bank and <keyword id="19900482" type="General" weightage="20" keywordseo="ICICI-Bank" source="keywords">ICICI Bank</keyword> dragged the key index from the day's highs. The Nifty eked out gains of 1.35 points or 0.01% to close at a fresh high of 25,940.40. During the day, it climbed 72.5 points or 0.27% to hit a new record intra-day high of 26,011.55. Vinod Nair, Head of Research, Geojit Financial Services said, "Domestic benchmarks are attempting to sustain new highs, driven by the US Fed's aggressive rate cut. Meanwhile, the Chinese central bank's rate cut, and additional stimulus measures have positively influenced global investor sentiment, resulting in gains for domestic metal stocks." Conversely, FMCG and banking stocks exhibited declines due to profit-booking at higher levels, he said, adding that in the near term, strong inflows from FIIs, driven by the US Fed's dovish outlook and expectations of a rate cut by the RBI in October, are expected to maintain momentum. From the 30 Sensex firms, Hindustan Unilever, UltraTech Cement, Kotak Mahindra Bank, IndusInd Bank, Titan, Nestle, Bajaj Finance and Asian Paints were among the biggest laggards. Tata Steel, Power Grid, Tech Mahindra, HCL Tech, Mahindra &amp; Mahindra and JSW Steel were among the gainers. The BSE midcap gauge climbed 0.21% while the smallcap index dipped 0.04%. Among the indices, FMCG declined by 0.75%, telecommunication (0.57%), services (0.45%), financial services (0.40%), consumer durables (0.31%) and bankex (0.30%). “Technically, the index is oscillating within a rising channel and is trading near the upper trend line resistance of the channel pattern, which is around the range of 25,900-26,000 levels, making them a strong hurdle in the short term. Therefore, on the upside, 26,000 will act as an immediate hurdle for Nifty. If the index sustains above 26,000 it could test the levels of 26,200. On the downside, 25,600 will serve as strong support for the index,” said Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediates. Metal surged 2.78%, power jumped 1.38%, utilities (1.18%), commodities (0.95%) and industrials (0.47%). "Although markets ended on a lacklustre note after a volatile session, key benchmark indices hit new milestones signifying that liquidity flows has remained strong as investors are confident of India's long term growth story," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. "Nifty ended on a flat note in a volatile session on Tuesday after crossing 26,000 for the first time. Asian stocks rose on Tuesday to their highest in more than two and half years, heartened by broad stimulus measures from China while expectations for more US rate cuts kept risk sentiment up," Deepak Jasani, Head of Retail Research, HDFC Securities, said. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. Shanghai and Hong Kong markets ended significantly higher. European markets were trading in the green. The US markets ended higher on Monday. Foreign Institutional Investors (FIIs) bought equities worth ₹404.42 crore on Monday, according to exchange data. S&amp;P Global Ratings on Tuesday retained India's growth forecast at 6.8% for the current fiscal and said it expects the RBI to start cutting interest rates in its October monetary policy review. Global oil benchmark Brent crude jumped 2.35% to $75.64 a barrel. Rallying for the third day running on Monday, the BSE benchmark jumped 384.30 points or 0.45% to settle at an all-time high of 84,928.61. The NSE Nifty climbed 148.10 points or 0.57% to close at a record peak of 25,939.05. With inputs from PTI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/tata-nexon-ev-with-a-bigger-battery-launched-starting-at-13-99-lakh/articleshow/113631992.cms">Tata Nexon EV with a bigger battery launched starting at ₹13.99 lakh</a> <a href="https://www.businessinsider.in/stock-market/news/sebi-report-reveals-the-ugly-truth-of-fo-trading-in-india-93-of-retail-traders-incurred-losses/articleshow/113620397.cms">SEBI report reveals the ugly truth of F&amp;O trading in India – 93% of retail traders incurred losses</a> <a href="https://www.businessinsider.in/stock-market/webstories/manba-finance-ipo-price-band-to-risk-factors-all-you-need-to-know/slidelist/113585986.cms">Manba Finance IPO – Price band to risk factors, all you need to know</a>

Sensex hits 85,000 level but closes flat as FMCG, banking shares drag

<ul><li>The stock market snapped their five-day losing run on Friday with the benchmark <keyword id="19895774" type="General" weightage="20" keywordseo="BSE" source="keywords">BSE</keyword> <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closing higher by 75 points.</li><li> The 30-share BSE Sensex rose by 75.71 points or 0.10% to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points.</li><li><keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> and Sensex tanked more than 2% in the five days to Thursday amid high volatility ahead of the results of the <keyword id="19912155" type="General" weightage="20" keywordseo="Lok-Sabha-polls" source="keywords">Lok Sabha polls</keyword>.</li></ul><keyword id="19900617" type="General" weightage="20" keywordseo="stock-markets" source="keywords">Stock markets</keyword> snapped their five-day losing run on Friday with the benchmark BSE Sensex closing higher by 75 points on value-buying in banking and oil shares after recent losses. The 30-share BSE Sensex rose by 75.71 points or 0.10 per cent to settle at 73,961.31. During the session, it hit a high of 74,478.89 points and a low of 73,765.15 points. Halting its five-day losing streak, the 50-share NSE Nifty rose by 42.05 or 0.19 per cent to end at 22,530.70. Nifty and Sensex tanked more than 2 per cent in the five days to Thursday amid high volatility ahead of the results of the Lok Sabha polls. "The pre-election trading strategy has come to an end, and all eyes will be on the release of the exit poll for further action. Regional diversions, marginally low voter turnout and strong resistance at current range are prompting investors to adopt a cautious stance," Vinod Nair, Head of Research, Geojit Financial Services said. From the Sensex pack, Tata Steel, Bajaj Finance, HDFC Bank, Power Grid, IndusInd Bank, Larsen &amp; Toubro, ICICI Bank were among the gainers. Nestle India, Tata Consultancy Services Maruti Suzuki India, Infosys, Axis Bank, Hindustan Unilever were the laggards. "The domestic benchmark index, Nifty, experienced a rollercoaster ride during the day and settled the first day of the June expiry on a positive note at 22,531 levels. Technically, the index on a daily scale has formed a homing pigeon candlestick pattern, ahead of the exit polls for the Lok Sabha elections. The 50-DEMA (Days exponential moving average) is placed near 22,390, and the 100-DEMA is placed near 22,000 levels. Thus, 22,390 and 22,000 will act as short-term support points for the index, while 22,800 and 23,110 will operate as significant barriers in the short term," Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediate In Asian markets, Shanghai, Tokyo, Seoul and Hong Kong were closed on a mixed note. European stock markets were trading lower. Major indices on Wall Street ended lower on Thursday. Global oil benchmark Brent crude went lower 0.40 per cent to USD 81.53 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 3,050.15 crore on Thursday, according to exchange data. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-june-2024/slidelist/110591467.cms" target="_blank">Upcoming cars and two-wheelers launching in India in June 2024</a><a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/huawei-beats-samsung-to-take-the-top-spot-in-global-foldable-smartphone-shipments/articleshow/110583786.cms" target="_blank">Huawei beats Samsung to take the top spot in global foldable smartphone shipments</a><a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/lok-sabha-exit-poll-2024-what-are-they-when-will-they-be-announced-and-all-you-need-to-know/articleshow/110565608.cms" target="_blank">Lok Sabha Exit Poll 2024 – what are they, when will they be announced and all you need to know</a>

Sensex snaps 5-day losing streak on value buying, closes up 75 pts

<ul><li><keyword id="20020567" type="General" weightage="20" keywordseo="Equity-benchmarks" source="keywords">Equity benchmarks</keyword> Sensex and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> closed higher on Friday amid a buying in index majors <keyword id="19981454" type="General" weightage="20" keywordseo="MM" source="keywords" meta.keywordsubtype="org" meta.entityname="M&amp;M" meta.hostid="261" meta.entityid="M&amp;M">M&amp;M</keyword>, <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> Industries and ITC.</li><li>The 30-share BSE Sensex climbed 253.31 points, or 0.34%, to settle at 73,917.03.</li><li>M&amp;M was the biggest gainer on the Sensex chart, rising 5.97%, followed by JSW Steel, Ultra Cement, Kotak Bank, ITC and NTPC.</li></ul>Equity benchmarks Sensex and Nifty closed higher on Friday as buying in index majors M&amp;M, Reliance Industries and ITC helped the indices rebound from early lows. The 30-share BSE Sensex climbed 253.31 points, or 0.34 per cent, to settle at 73,917.03. The NSE Nifty advanced 62.25 points, or 0.28 per cent, to 22,466.10. M&amp;M was the biggest gainer on the Sensex chart, rising 5.97 per cent, followed by JSW Steel, Ultra Cement, Kotak Bank, ITC and NTPC. "Nifty opened flat on Friday in line with global cues. After an initial knee-jerk reaction, the index traded in the positive zone and settled at 22,466 levels. From a technical perspective, the index is maintaining a strong hold above the 21-day exponential moving average (21-DEMA), which is positioned at 22,320 levels. As long as the index holds above the 22,320 levels, the rally could extend to 22,600. However, we are gradually approaching the previous resistance of 22,800, where the index has formed a bearish engulfing candle. Thus, traders are advised to take some profit off the table," said Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediates. Reliance Industries gained 0.73 per cent to close at Rs 2,871 apiece. In contrast, TCS, HCL Tech, HUL, Nestle Industries, Bajaj Finserv, Wipro and Infosys were among the losers. "Despite mixed global signals and uncertainties surrounding the US Fed, the Indian market experienced a robust recovery, largely fuelled by the outperformance of the broader market and positive Q4 earnings. "Further, some index heavyweight earnings surpassed expectations, and midcap and small-cap stocks continued to exhibit buying interest during dips. Auto and consumer durables particularly stood out with strong earnings momentum," said Vinod Nair, Head of Research, Geojit Financial Services. In Asian markets, Shanghai and Hong Kong logged gains, while Seoul and Nikkei closed in the red. European markets were trading in the negative territory. Wall Street ended in the green in the overnight trade on Thursday. Global oil benchmark Brent crude rose 0.25 per cent to USD 83.48 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 776.49 crore on Thursday, according to exchange data. On Thursday, the BSE benchmark climbed 676.69 points or 0.93 per cent to settle at 73,663.72. The NSE Nifty surged 203.30 points or 0.92 per cent to 22,403.85. SEE ALSO:<a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/motorola-edge-50-fusion-vs-oneplus-nord-ce-4-price-specs-and-features-compared/slidelist/110197390.cms" target="_blank">Motorola Edge 50 Fusion vs OnePlus Nord CE 4 – price, specs and features compared</a><a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank"></a> <a href="https://www.businessinsider.in/india/news/average-housing-prices-up-10-in-jan-mar-across-the-top-eight-cities/articleshow/110181627.cms" target="_blank">Average housing prices up 10% in Jan-Mar across the top eight cities</a><a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/motorola-edge-50-fusion-with-144hz-poled-display-500mah-battery-launched-starting-at-22999/articleshow/110170762.cms" target="_blank">Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999</a>

Sensex climbs over 250 pts on buying in Reliance, M&M

<ul><li><keyword id="19913381" type="General" weightage="20" keywordseo="market" source="keywords">Market</keyword> benchmarks <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> wilted under selling pressure on Friday after a five-day rally.</li><li>Investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword>.</li><li>The 30-share BSE Sensex tanked 609.28 points or 0.82% to settle at 73,730.16.</li></ul>Market benchmarks Sensex and Nifty wilted under selling pressure on Friday after a five-day rally as investors pared exposure to banking, financial and consumer durable stocks amid mixed trends in global markets. Rising global crude prices, a depreciating rupee and persistent foreign fund outflows further weighed on sentiment, traders said. Profit-taking also came into play as the 30-share BSE Sensex tanked 609.28 points or 0.82% to settle at 73,730.16. During the day, it lost 722.79 points or 0.97% to 73,616.65. The <keyword id="19950205" type="General" weightage="20" keywordseo="nse-nifty" source="keywords">NSE Nifty</keyword> declined 150.40 points or 0.67% to 22,419.95. "Domestic equity benchmarks halted their five-day winning streak on Friday, driven by weak global cues. The Nifty opened on a positive note on the first day of the May series but could not sustain at higher levels and closed the day on a negative note at 22,420. The broader market outperformed the benchmarks, with the midcap and smallcap indices registering fresh lifetime highs. Technically, the index has formed a dark cloud cover candlestick pattern on a daily scale," said Hrishikesh Yedve, AVP Technical and Derivatives Research, Asit C. Mehta Investment Interrmediates. <keyword id="19955371" type="General" weightage="20" keywordseo="Bajaj-Finance" source="keywords">Bajaj Finance</keyword> was the biggest drag on the Sensex chart, skidding nearly 8% after the company's March quarter earnings failed to cheer investors. Bajaj Finserv also declined over 3%. IndusInd Bank, Nestle, Kotak Mahindra Bank and Mahindra &amp; Mahindra were among the other laggards. Meanwhile, <keyword id="19924892" type="General" weightage="20" keywordseo="Tech-Mahindra" source="keywords" meta.keywordsubtype="org" meta.entityname="Tech Mahindra" meta.hostid="83" meta.entityid="Tech Mahindra">Tech Mahindra</keyword> jumped over 7% after the IT services company's CEO outlined an ambitious three-year roadmap to accelerate revenue growth and lift margins. Wipro, ITC, UltraTech Cement, Titan and Axis Bank were among the gainers. "The fall was on expected lines as both the benchmark indices had rallied for five straight sessions, and profit-taking has been due for some time. "Correction is also attributed to global factors after the Japanese Yen fell to a new 34-year low and disappointing US data pushed its benchmark yields to over 4.7%, thus worsening hopes of an interest rate cut in the medium term," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the positive territory. European markets were trading in the green. Wall Street ended lower on Thursday. Global oil benchmark Brent crude climbed 0.31% to USD 89.29 a barrel. The rupee declined 7 paise to close at 83.35 (provisional) against the US dollar on Friday. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,823.33 crore on Thursday, according to exchange data. The BSE benchmark climbed 486.50 points or 0.66% to settle at 74,339.44 on Thursday. The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35. SEE ALSO:<a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/webstories/ultraviolette-f77-mach-2-electric-sports-bike-launched-in-india-starting-at-2-99-lakh/slidelist/109615934.cms" target="_blank">Ultraviolette F77 Mach 2 electric sports bike launched in India starting at ₹2.99 lakh</a><a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-c65-5g-with-5000mah-battery-120hz-display-launched-starting-at-10499/articleshow/109619597.cms" target="_blank">Realme C65 5G with 5,000mAh battery, 120Hz display launched starting at ₹10,499</a><a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/news/jiocinema-introduces-new-ad-free-premium-plans-starting-at-29/articleshow/109581033.cms" target="_blank">An Ambani disruption in OTT: At just ₹1 per day, you can now enjoy ad-free content on JioCinema</a>

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Indian markets ease as profit booking follows record-breaking streak

BI India Bureau

Nifty and Sensex end this Diwali in red, muhurat trading to take place tomorrow

Ira Alok Puranik

Sensex, Nifty tumble nearly 1.5% as bank stocks slump on weak Japanese markets

BI India Bureau

Sensex hits 85,000 level but closes flat as FMCG, banking shares drag

BI India Bureau

Sensex snaps 5-day losing streak on value buying, closes up 75 pts

PTI

Sensex climbs over 250 pts on buying in Reliance, M&M

PTI

Markets snap five-day rally, Sensex tumbles over 600 pts

PTI

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