Geojit Financial News

Indian benchmark indices Nifty50 and Sensex hit record highs after gains in financial and IT stocks. Despite the rally, the market capitalisation of all listed companies on the BSE declined. Investors focused on U.S. GDP and inflation data for clues on economic trends. Crude oil prices edged up slightly, while the Indian rupee gained against the US dollar.

Benchmark equity index Nifty50 hit a record peak of 25,129.6 on Wednesday, slightly closing higher than the previous day, driven by gains in IT stocks. Sensex closed at 81,785, gaining 74 points. LTIMindtree, Wipro, Divi's Labs, Bharti Airtel, and Infosys were top gainers, while Maruti Suzuki and Asian Paints lagged.

On Wednesday, the Nifty50 reached a new all-time high of 25,104, surpassing its previous peak of 25,078 after 18 trading sessions. The Sensex is just 143 points away from its fresh high of 82,129. By 11:50 am, the Nifty50 was up 86 points (0.35%), and the Sensex had risen 273 points (0.33%) to 81,986.

The buying momentum was stronger in the broader market while buying was noticed in IT, pharma, consumer and media stocks. HCL Tech was the biggest gainer among bluechips and was trading 1.5% higher.

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Ola Electric Share Price: Just seven days after its listing on the bourses, the stock had doubled in value and was trading at a higher valuation than even that of Elon Musk's Wall Street-listed Tesla.

Market Expert VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, explains FII optimism in the quarter. According to him, FIIs were drawn to metal stocks due to their relatively lower valuations compared to the broader market trend. He notes that FII investment has been influenced by volatile metal prices.

Foreign investors infused Rs 11,366 crore in the Indian debt market so far this month, pushing the net inflow tally in the debt segment to over the Rs 1-lakh-crore mark. Foreign investors' strong buying interest in the Indian debt market can be attributed to India's inclusion in JP Morgan's Emerging Market government bond indices in June this year.

During the first two weeks of August, foreign institutional investors withdrew a substantial Rs 14,790 crore from financial stocks and expressed a bearish sentiment towards metals, services, construction, and auto sectors. Conversely, FIIs demonstrated a bullish approach by investing in healthcare (Rs 3,462 crore), consumer services (Rs 2,196 crore), FMCG (Rs 1,785 crore), and power (Rs 1,169 crore).

This week witnessed a significant surge in smallcap stocks, with 152 of them posting double-digit gains, and nine even surpassing the 30% mark. This performance is notably stronger than the previous week, which saw only 43 smallcaps achieve double-digit growth. Leading the pack was Rane Madras with an impressive 39% return, followed closely by SEPC at 38%, Shriram Properties at 36%, and Tasty Bite Eatables at 35%.

Share Market Open or Closed: Indian stock markets remains operational on Krishna Janmashtami, with Sensex and Nifty recording a 0.7-1% surge in the earlier week, marking the year's longest rally. Global markets also rose after U.S. Federal Reserve Chair Jerome Powell suggested a potential rate cut in September.

Indian equity indices closed flat on Friday in a highly volatile session. Traders showed caution ahead of Federal Reserve Chair Jerome Powell's upcoming speech. Despite the muted performance, both NSE Nifty 50 and S&P BSE Sensex have gained around 3% in seven sessions due to US rate cut expectations and strong domestic inflows.

Sensex and Nifty opened on a positive note Thursday, bolstered by Federal Reserve meeting minutes suggesting a likely rate cut. Companies such as Infosys and Tata Steel saw gains, while others like Power Grid declined. Paytm's shares jumped over 5% after Zomato agreed to acquire its entertainment and ticketing business.

The domestic equity markets concluded a volatile trading session on Wednesday with gains. The BSE Sensex closed up by 102 points at 80,905, and the NSE Nifty advanced 71 points to 24,770. Consumer Durables stocks led the surge while financials and banks dipped slightly.

Suzlon Energy Share Price: Retail investors booked profits in Suzlon Energy shares in the June quarter, while FIIs and mutual funds raised their holdings. The stock surged impressively, gaining 90% since April and over 300% in the past year. Suzlon aims to strengthen its presence with a major acquisition in Renom Energy Services.

On Wednesday, the Indian stock market experienced a minor downturn driven by financial and IT stock declines. The Sensex dropped 98 points, while the Nifty50 decreased by 17 points. Investors awaited the U.S. Federal Reserve meeting minutes for clues on rate cuts. Foreign investors continued to sell, while domestic investors showed buying interest.

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Ola Electric Share Price: Shares of Ola Electric soar 8% to a new peak of Rs 157.53 on the BSE, surpassing Tesla's valuation. The EV stock has surged 107% from its IPO price of Rs 76 in just 7 trading sessions. On Tuesday, 2.3 crore shares, or 0.5% equity, worth Rs 352.9 crore, changed hands at Rs 151 per share.

Ola Electric Share Price: Ola Electric Mobility's shares rose by 10%, reaching a 52-week high of Rs 146 on Monday, reflecting a 92% increase from its IPO price. HSBC set a target price of Rs 140, citing regulatory support and cost reduction. In the June quarter, revenue grew by 32% YoY, while losses widened to Rs 347 crore.

Sensex and Nifty indices opened higher on Monday, buoyed by gains in banking and energy sectors, following positive trends in Asian markets. Major stocks like ONGC and BPCL rose, while Hindustan Zinc fell after Vedanta's recent announcement. Experts highlighted that local investor activity dominated market movements, although high valuations have deterred foreign investments.

In August, foreign investors withdrew Rs 21,201 crore from Indian equity markets, influenced by the unwinding of the yen carry trade, US recession worries, and geopolitical tensions.

Chief Investment Strategist at Geojit Financial Services points out a key trend in recent FPI activity. He notes that FPIs are increasingly selling through the exchange while simultaneously investing via the 'primary market & others' category. This pattern has become particularly evident in August, highlighting a notable shift in FPI investment strategies.

The stock market experienced a bullish week, with 43 stocks posting double-digit gains. Inox Wind Energy spearheaded the small-cap surge with a remarkable 35% gain. Kitex Garments and Suprajit Engineering also impressed with gains exceeding 25%. Gravita India, Panacea Biotech, Inox Wind Ltd, and Sarda Energy delivered robust returns between 20% and 25%, contributing to a positive overall market sentiment.

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FIIs have sold Indian stocks worth Rs 30,000 crore since the Budget due to high valuations and global economic concerns. Despite the sell-off, Indian markets remained resilient due to strong domestic investor support. Analysts expect FII behavior to improve by November as key global economic conditions stabilize.

The Nifty closed nearly flat, impacted by mixed investor sentiment ahead of the U.S. CPI data. Gains in IT stocks, thanks to soft U.S. producer price data, were offset by profit booking. Leading gainers were TCS and Infosys, whereas sectors like Nifty Bank and Pharma declined.

Stock Market Holiday: On August 15, equity markets were closed due to Independence Day, halting all trading activities. The Multi-Commodity Exchange also remained closed. Market closures are also scheduled for Id-E-Milad and Mahatma Gandhi Jayanti. Softer U.S. producer prices data positively impacted Indian indices amid expectations of an interest rate cut by the Federal Reserve.

The Indian equity markets experienced a downturn on Tuesday, with Sensex dropping 693 points, driven mainly by HDFC Bank's anticipated lower inflows due to MSCI adjustments. Other major contributors to the decline included SBI, ITC, Tata Motors, and Bajaj Finance, resulting in a significant shrinkage in overall market capitalisation.

Sensex and Nifty opened marginally lower on Tuesday as HDFC Bank faced expected lower foreign inflows due to a staggered weightage adjustment in a crucial emerging markets index. Sensex declined by 78 points, while Nifty50 rose slightly by 21 points. HDFC Bank shares fell over 2% despite a weightage increase in the MSCI index.

Hindalco, Nykaa, Hero MotoCorp, Apollo Hospitals, IRCTC among 660 other companies will announce their first quarter results on Tuesday.

Adani Share Price: Shares of Adani Group companies dropped up to 7% this morning as investors reacted to allegations against Sebi chief Madhabi Buch in the Adani vs Hindenburg controversy. This led to a loss of approximately Rs 53,000 crore, with the combined market capitalization of 10 Adani stocks falling to Rs 16.7 lakh crore.

Nifty and Sensex ended Monday marginally lower despite a volatile market, overlooking a new Hindenburg report accusing SEBI chief Madhabi Puri Buch of misconduct. Adani stocks dropped up to 4% following the report. Meanwhile, global markets remained calm, crude oil prices climbed, and the rupee reached a record low against the dollar.

​Going forward, if the market continues to rise, FPIs are likely to press more sales since Indian stock valuations continue to remain elevated, particularly in relation to valuations in other markets, V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.

During the week, only 30 smallcap companies offered double-digit returns with Century Enka the top gainer (35%), followed by Authum Investment (34.19%), Symphony (33.53%), and Garware Hi-Tech (26%).

Ola Electric Mobility's market debut was subdued, with its grey market price indicating a lower opening than its IPO range. The significant IPO was subscribed 4.27 times, yet analysts pointed to limited HNI interest. Experts recommend selling the stock upon listing due to uncertainty over the company's near-term prospects.

The RBI kept rates unchanged for the ninth consecutive meeting and maintained its 'withdrawal of accommodation' policy stance. Governor Shaktikanta Das cautioned against complacency despite the easing of core inflation, noting that the pace of inflation moderation has been slow. The market capitalisation of all listed companies on BSE dropped by Rs 2.8 lakh crore to Rs 445.77 lakh crore.

FMCG and pharma stocks have surged up to 23% over the last month, proving their defensive strength, while the Nifty50 has declined amid high volatility and a 27% rise in the India VIX. The Nifty FMCG and Pharma indices have gained 8% and 7.7%, respectively, versus a 0.11% drop in the broader Nifty.

Following the RBI's decision to keep interest rates unchanged and maintain the withdrawal of accommodation stance, Sensex and Nifty saw declines. RBI Governor Shaktikanta Das noted market alignment with RBI policies. Despite steady inflation and GDP growth forecasts, specific stocks like Infosys and Apollo Tyres experienced notable losses. Investors remain cautious amid global economic concerns.

Fearing a US recession, investors fled riskier assets, leading to a significant drop in Indian equity markets. The Sensex plummeted 2,600 points and the Nifty fell below 24,000 in early trading, due to heavy selling pressure on blue-chip stocks.

Stock Market Crash Reasons: Sensex and Nifty faced sharp declines amid fears of a US recession, yen carry trade unwinding, geopolitical tensions, overvaluation, and lackluster Q1 results. Blue-chip stocks like Tata Motors and Tata Steel suffered the most. The India VIX saw its biggest surge since 2015, indicating heightened market volatility.