Sensex, Nifty LIVE Updates on February 8: Market indices Sensex and Nifty continued hitting new all-time highs on Monday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating a positive trend in domestic grounds today. Gaining for a sixth straight day post the Union Budget and RBI MPC policy outcome, Sensex rose 640 points higher at 51,355 and Nifty gained by 107 points to 10,098. Both benchmarks hit fresh lifetime highs of 51,360 and 15,101 earlier today. Meanwhile, Q3 earnings announcements by BPCL, Aditya Birla Fashion, Astrazeneca Pharma, Balkrishna Industries, Bombay Dyeing, Godrej Consumer Products will also set the tone for the stock market today. On Friday, Sensex ended 117 points higher at 50,723 and Nifty gained 28 points to 14,924
Here's a look at the LIVE updates of the market action on BSE and NSE today
9. 50 AM: FPIs pump in Rs 10,793-crore into equities in first 5 sessions
Foreign portfolio investors (FPIs) remained net buyers to the tune of Rs 12,266 crore in the Indian market in the first five trading sessions of February, as positive sentiment post-Union Budget 2021 sparked a rally in investment.
As per FPI statistics available with depositories, overseas investors pumped in a net Rs 10,793 crore into equities and Rs 1,473 crore in the debt segment between February 1-5.
FPIs pump in Rs 10,793-crore into equities in first 5 sessions of February
9. 42 AM: Global stocks mixed today
Overseas, Asian stocks are trading mixed on Monday. China's State Administration for Market Regulation released a new set of rules that are set to put pressure on leading internet services in the country such as Alibaba's Taobao or Tencent's WeChat Pay.
In US, the Nasdaq and S&P 500 hit all-time highs on Friday on stronger-than-expected corporate results in the fourth quarter.
The Senate and House each passed a budget resolution on Friday, starting the reconciliation process that would allow President Joe Biden's $1.9 trillion rescue package to get through the Democratic-held Senate with a simple majority. The package includes $1,400 stimulus checks, supplemental jobless benefits and Covid-19 vaccine and testing funds.
9. 32 AM: Opening session
Market indices opened on a bullish note on Monday, amid positive global equities. SGX Nifty on the Singapore Exchange was rising by 90 points, indicating a positive trend in domestic grounds today. Gaining for a sixth straight day post the Union Budget and RBI MPC policy outcome, Sensex rose 640 points higher at 51,355 and Nifty gained by 107 points to 10,098. Sensex and Nifty continued hitting new all-time highs today.
9. 20 AM: Market outlook
Vinod Nair, Head of Research at Geojit Financial Services said,"This week witnessed the market riding the budget wave with Sensex sustaining the 50,000 mark while finding volatility by the end of the week. The rally was led by PSU banks in hopes of privatisation, NPA restructuring and strong quarterly results. The market has seen a renewed focus on cyclicals & PSUs which are likely to be the most beneficiary by a revamped domestic economy. As predicted, the RBI Committee did not have a considerable change in the policy and maintained its accommodative stance. RBI's supportive measure to fund NBFC from banks under the LTRO scheme and the Committee's decision to reverse CRR cut will keep the finance sector in focus in the coming days. Due to the lack of any major upcoming economic events, the market is expected to be stock-specific based on the forthcoming quarterly results."
9. 16 AM: Earnings today
BPCL, Aditya Birla Fashion, Astrazeneca Pharma, Balkrishna Industries, Bombay Dyeing, Godrej Consumer Products, NMDC, Redington India, Sun Pharma Advanced Research Company, Sun TV Network, Torrent Pharmaceuticals, Usha Martin and Vakrangee among other will announce their December quarter results on Monday.
9. 09 AM: Nifty 50 outlook
Nirali Shah, Head of Equity Research, Samco Securities said," Nifty50, which formed a big bearish candle last week, has made an even bigger green candle in the week gone by as bulls are in no mood to give the bears control of the market trend. The overall market breadth remained positive as risk-seeking sentiment prevailed after the budget day. Other global equity indices including emerging markets like Kospi, TAIEX and DAX are all trading near all-time highs while the risk-averse asset classes like Gold and bonds are exhibiting weakness. We suggest traders maintain a bullish bias with an immediate support on the downside at 14580."
9.00 AM: Rupee closing
On the currency market, Indian Rupee gained 3 paise to settle at 72.93 against US dollar on Friday.
8. 55 AM: FII action
Foreign portfolio investors (FPIs) bought shares worth Rs 1,461.71 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,418.65 crore in the Indian equity market on 5 February, provisional data showed.
8. 45 AM: Closing on Friday
Market indices closed at record highs on Friday in line with positive global equities. Gaining for a fifth straight day post the Union Budget and RBI MPC policy outcome, Sensex ended 117 points higher at 50,723 and Nifty gained 28 points to 14,924. Both benchmarks hit fresh lifetime highs of 51,073 and 15,014 earlier today.