The Sensex and Nifty achieved record highs during intraday trade on Friday before ending flat due to market volatility. The S&P BSE Sensex peaked at 75,636.5 but closed at 75,410, down 8 points. The NSE Nifty50 surpassed the 23,000-mark, closing 11 points lower at 22,957.
This rally followed the Reserve Bank of India's (RBI) approval of a record Rs 2.11 lakh crore dividend to the government, bolstered by strong buying in blue-chip stocks such as Reliance Industries and HDFC Bank.
In the previous trading session on Tuesday, the BSE benchmark had declined by 52 points to settle at 73,953, whereas the Nifty50 had closed higher by 27 points at 22,529.
These sessions are being conducted based on specific discussions with markets regulator SEBI and their technical advisory committee with a view to assessing the preparedness of market infrastructure institutions.
Major sectors such as IT, finance, and consumer goods saw notable increases, driving the overall market uptrend. Positive global cues and strong domestic earnings reports contributed to the rally.
Bharti Airtel also made significant gains, climbing by 2.38% to Rs 1,342.95, amid expectations of tariff hikes post-general elections. Additionally, Tech Mahindra Ltd (TecM), Titan Company Ltd, and Infosys Ltd each recorded gains of over 2%.
Nifty, which tracks the performance of the top 50 companies listed on the National Stock Exchange (NSE), recorded a slight dip of 17.30 points. It settled at 22,200.55 by the end of the trading session, signalling a subdued market trend.
The stock market surged on Tuesday, with both the Sensex and Nifty marking their third consecutive day of gains. Led by strong performances in the auto, metal, and banking sectors, the Sensex climbed 328 points to reach 73,105, while the Nifty settled at 22,218, up by 114 points.
As worries surrounding the general elections persisted, both the Sensex and the Nifty 50 witnessed a significant drop of over 1 per cent during Thursday's trading session. The volatility intensified on the weekly Nifty options expiry day, adding to the market turmoil.
The marginal increase in the Sensex suggests cautious optimism among investors, while the dip in the Nifty indicates some profit-taking and consolidation in select sectors.
Stock market update: The next market holiday of the stock exchange is on May 20 (Monday) for the Lok Sabha Elections 2024.
The early gains in both Sensex and Nifty suggest a positive outlook for the stock market, with investors anticipating continued momentum and favorable trading conditions throughout the session.
Indian stocks started the week on a positive note, riding on the coattails of a strong performance in US markets and improved investor sentiment. With the Sensex rising by 411 points and the Nifty climbing 53.70 points in early trade, sectors like the Nifty Bank emerged as top movers.
In the early hours of trading today, the Indian stock market witnessed a positive momentum, with the Sensex rising by 176.47 points to reach 74,515.91. Similarly, the Nifty recorded a gain of 50.05 points, reaching 22,620.40.
The market commenced Thursday’s session on a downward trajectory, with both the Nifty and Sensex exhibiting bearish trends. The Nifty index slipped below the 22,400 mark, reflecting a cautious sentiment among investors at the opening bell.
In line with optimistic trends seen in global markets, benchmark indices in India commenced Wednesday’s trading session on a positive trajectory. The Sensex initiated the day’s trading with a notable gap, surging over 200 points to reach 73,958.
Among the Nifty firms, notable gainers included ONGC, Apollo Hospital, Cipla, ITC, and Dr. Reddy, while BPCL, HDFC Life, Bajaj Auto, Infosys, and Coal India were the prominent losers.
The Indian stock market started with a gap-up, suggesting an upward trend. Following a day of closure for Ram Navami, the market swiftly opened with gains.
The sudden downturn in equity markets has raised concerns among investors, who are closely monitoring the situation for further developments and their potential impact on market stability.
The market decline comes amidst lingering uncertainties surrounding global economic conditions, geopolitical tensions, and fluctuations in crude oil prices, contributing to investor nervousness.
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