A 35 bps rate cut fails to lift sentiment

The Reserve Bank of India (RBI) went for an unconventional 35 bps rate cut on August 7 but failed to impress the market. The S&P BSE Sensex saw a drop of nearly 300 points, while the Nifty50 fell by nearly 100 points after starting on a positive note. The central bank’s monetary policy committee (MPC)…

Rate cut hopes fuels rally in Sensex; trade tensions limit gains

It was a stable Tuesday ahead of the outcome of the RBI’s Monetary Policy Committee on August 7, but the Street gave up gains in the last hour of the trade. The S&P BSE Sensex, which was up 540 points, failed to hold on to gains and closed below 37,000. The Nifty50 also failed to…

Sensex falls below 37,000, Nifty gives up 2019 gains

Indian markets that opened lower on weak global cues on August 5 came under pressure after the government decided to do away with Article 370 that extends special status to Jammu and Kashmir. The border state will be bifurcated. Jammu and Kashmir will be a Union Territory with a legislature, while Ladakh region will be…

Market recovers on hopes that Centre will tweak tax surcharge on FPIs

Indian markets recovered in the second half of the trading sessions on August 2, largely supported by short coverings after media reports quoting government officials suggested that Prime Minister Office (PMO) and finance ministry’s top bureaucrats are in talks over foreign portfolio investor (FPI) surcharge issue. The government is likely to put on hold a…

Fed comments spook markets; Nifty at 5-month low

Indian markets saw some recovery in the last hour of the trading session on August 1 that helped the S&P BSE Sensex to climb above 37,000 and Nifty to climb above 10,900-10,950. Nifty breached 10,900 on an intraday basis but then recovered sharply to close at 5-month low helped by gains in energy, and auto stocks….

Short covering push markets higher; Nifty above 11,100

Indian markets witnessed a short-covering bounce in the last 90 minutes of trade on July 31 which pushed the Nifty50 back above 11,100 levels but still below its 200-days moving average placed at 11,148. The final tally on D-Street: the S&P BSE Sensex up 83 points and the Nifty50 higher by 32 points at 11,118….

Nifty breaks below 200-DMA; Midcap [email protected] low

“A lot can happen over a coffee”, and also in a single trading session. The Café Coffee Day tag line played out in the market on July 30, as in a single trading session Nifty broke below 200-day exponential moving average (DMA), a level last seen in March 2019 and Sensex below 37,400, a level…

Motown woes hurt; Nifty slips below 11,200

Indian indices broke below crucial support levels on July 29 hit by a fall in auto stocks, persistent selling by foreign investors, muted corporate results, and sharp fall in bond yields. The S&P BSE Senses fell nearly 200 points while the Nifty 50 broke below the crucial psychological support at 11,200 levels. The final tally…

TGIF! Benchmark indices snap 6-day losing streak

Benchmark indices snapped a six-session losing streak on July 26 as Sensex closed 50 points higher to end at 37,882 while Nifty rose 32.15 points to settle at 11,284. The bounce was largely technical in nature as the market was trading near crucial support levels. Experts feel that concerns around corporate earnings still remain and investors…

Sixth straight day of fall on expiry day; Bajaj twins sink 4%

Markets remained volatile on the July series expiry day. Nifty fell about 5 percent in July series, its worst since October 2018. Nifty Midcap and Nifty Bank’s fall in July series was also the biggest in 10 months. Indian markets fell for the sixth straight day on July 25 to close with marginal losses. Nifty…