SENSEX Financial News

The strong support from foreign portfolio investments (FPIs) has lifted the stock market significantly in 2023-24 so far. The market benchmarks, Nifty 50 and BSE Sensex, retreated from their lifetime closing highs recently, and have delivered close to 13% returns since 31 March 2023.

Nifty and Sensex, closed at 19,646.05 and 66,160.20 levels respectively. Meanwhile, a mixed trend across sectors and the monthly expiry of July month derivatives contracts kept the participants occupied. The broader indices managed to outperform for yet another week and posted strong gains in the range of 1%-2%.

Indian equities ended Friday’s session in the red even as the broader markets outperformed. Sensex after falling below 66,000 levels in intraday trade, recouped some of the losses and ended with a cut of 107 points at 66,160, while Nifty ended marginally lower at 19,646.

The domestic stock market finished lower on Friday (July 28) due to selling in auto sector, financial services, and information technology sector companies. At the closing, the Nifty 50 was down 13.85 points at 19,646.05, and the Sensex was down 106.62 points at 66,160.2.

foreign portfolio investors triggered a sharp rally in Indian equities and took benchmark indices to all-time highs. However, the buying frenzy among the big bulls seems to be ebbing.FPIs net invested a mere Rs 468 crore in domestic markets during the week ended July 28, compared to Rs 7,804 crore in the preceding week.Benchmarks Sensex and Nifty 50 registered their first weekly loss after four consecutive gains, as investors booked partial profits. But on a monthly basis, inflows from FPIs were positive for the fourth consecutive month in July. They net invested over $4 billion in July, but this was lower than the over $6 billion inflows in June. Since March this year, FPIs have net invested nearly $19 billion in Indian equities, which is more than the $18 billion of outflows witnessed in the whole of 2022.

Heavyweight HDFC Bank ended as the top drag on Sensex, followed by Infosys, TCS and Axis Bank. However, mid and smallcaps outperformed the benchmark index. The BSE Midcap index closed 0.55 per cent higher at 30,159.82 after hitting its record high of 30,178.22.

Foreign portfolio investors (FPIs) bought ₹45,365 crore in Indian equities so far this month, which has been marginally lower than the total investment made in June 2023. According to NSDL data, FPIs infused ₹45,361 crore in Indian markets so far in July, taking into account debt, hybrid, debt-VRR, and equities, according to exchange data.

Buy or sell stocks: After being pulled down by weak global market sentiments, Indian stock market ended lower for second straight session. NSE Nifty finished 13 points lower at 19,646 levels, BSE Sensex shed 106 points and closed at 66,160 mark while Bank Nifty index nosedived 211 points and ended at 45,468 levels. However, broad market indices outperformed key benchmark indices as small-ca index surged 0.49 per cent whereas mid-cap index went up 0.55 per cent.

During the week, as many as 60 smallcap stocks have delivered double digit weekly returns with seven of them offering over 25% returns.Thangamayil Jewellery was the top gainer in the smallcap pack with over 50% return, followed by MSP Steel and Power (48.95%), Foseco India (29.07%), and Indo Borax (28.8%). About six stocks including Jai Balaji, Mukand, Jagsonpal, Vesuvius India, Gallantt Ispat, Texmaco Rail have offered returns between 20-25% during the week. In the midcap segment, about 10 stocks including REC, GMR Airports, Ajanta Pharma among others have risen in double digits.

₹5,003.35 crore in Indian equities, snapping its consistent buying streak that helped sustained a record rally in domestic benchmark Nifty this month. Nifty has rallied around five per cent in July mainly on foreign capital inflow and the momentum led by first quarter results of fiscal 2023-24 (Q1FY24). FIIs have pulled off a 700-point rally in the Nifty since the 3rd of this month at the start of the earnings season for the first quarter, according to analysts.

₹1,023.91 crore, while domestic institutional investors (DIIs) bought securities for a net total of ₹1,634.37 crore. FIIs purchased shares worth a net of 14,623.18 crore rupees for the month up to July 28, while DIIs sold shares worth a net of 3,672.40 crore rupees. On Friday, the primary equity benchmarks experienced marginal declines, marking their second consecutive day of losses.

Nifty ended lower on July 28, extending losses into the second consecutive session, amid weak global cues. This week US Federal Reserve and European Central Bank hiked rates to 22-year and 23-year high peaks respectively. The focus now shifts to the Bank of England meeting next week.

Shares of Mahindra & Mahindra(up 1.41 per cent), Hero MotoCorp(up 1.13 per cent), Bajaj Auto(up 0.86 per cent), Eicher Motors(up 0.82 per cent) and Bharat Forge(up 0.57 per cent) ended the day as top gainers in the pack. On the other hand, Sona BLW Precision Forgings(down 4.47 per cent), Samvardhana Motherson International(down 2.84 per cent), Ashok Leyland(down 1.43 per cent), Tata Motors(down 1.3 per cent) and Maruti Suzuki(down 0.85 per cent) finished as the top losers of the day.

Domestic benchmark index NSE Nifty ended 13.85 points down at 19646.05, while the BSE Sensex closed 106.62 points down at 66160.2. On the other hand, Jagsonpal Pharm, Intellect Design, Foseco India, Sundaram Finance and Fino Payments Bank stocks hit their fresh 52-week highs today.

Shares of L&T Technology(up 1.96 per cent) ended the day as top gainers in the pack. On the other hand, MPhasis(down 1.34 per cent), HCL Technologies(down 1.24 per cent), Tata Consultancy(down 1.22 per cent), Infosys(down 0.93 per cent) and Tech Mahindra(down 0.8 per cent) finished as the top losers of the day.

Japan’s central bank opted to keep its benchmark interest rate at minus 0.1% but fine-tuned its bond purchases to allow greater flexibility. The BSE Sensex index ended 106 points or 0.16% lower at 66,160, while Nifty50 fell 14 points or 0.07% to settle at 19,646.

Shares of Ipca Laboratories(up 3.69 per cent), Pfizer(up 2.13 per cent), Gland Pharma(up 2.01 per cent), Abbott India(up 1.49 per cent) and Dr Reddys Laboratories(up 1.38 per cent) ended the day as top gainers in the pack. On the other hand, Glenmark Pharmaceuticals(down 2.87 per cent), Laurus(down 1.77 per cent), Zydus Lifesciences(down 1.39 per cent), Alkem Laboratories(down 0.81 per cent) and Lupin(down 0.58 per cent) finished as the top losers of the day.

Shares of Prestige Estates Projects(up 8.14 per cent), Mahindra Lifespace Developers(up 4.32 per cent), Macrotech Developers(up 2.68 per cent), Godrej Properties(up 2.63 per cent) and Indiabulls Real Estate(up 1.63 per cent) ended the day as top gainers in the pack. On the other hand, Phoenix Mills(down 0.09 per cent) finished as the top losers of the day.

The NSE Nifty index ended the session 13.85 points down at 19646.05, while BSE Sensex fell 106.62 points to 66160.2. In the Nifty index, NTPC Ltd.(up 3.99 per cent), Power Grid Corporation of India Ltd.(up 2.99 per cent), Apollo Hospitals Enterprise Ltd.(up 2.52 per cent), Adani Enterprises Ltd.(up 1.43 per cent) and Mahindra & Mahindra Ltd.(up 1.41 per cent) stood among the top gainers.

Parag Milk(up 10.61%), Dodla Dairy(up 6.18%), Umang Dairies(up 4.20%), Tasty Bite Eatables(up 3.94%), Marico(up 3.66%), Colgate Palmolive(India)(up 2.37%), Prataap Snacks(up 2.34%), Vadilal Industries(up 1.59%), Dabur India(up 1.38%) and Hatsun Agro Product Ltd(up 1.32%) stood among the top gainers. Heritage Foods(down 3.08%), Nakoda Group(down 2.33%), Zydus Wellness(down 1.34%), Euro India Fresh Foods(down 0.43%), Hindustan Foods(down 0.21%), Sheetal Cool Products(down 0.21%) and Adani Wilmar(down 0.20%) were among the top losers of the day.

Nifty ended lower on Friday (July 28), extending losses into the second consecutive session, amid weak global cues. “Global shares paused for breath on Friday as investors digested monetary policy steps from Japan and inflation data on both sides of the Atlantic in the hope of more evidence to persuade central banks to end their rate hiking cycle," reported Reuters. As per media reports, the Bank of Japan has changed its approach to managing interest rates.