Markets give up initial gains dragged by sharp fall in Kotak Bank, unabated foreign fund outflows

BSE Sensex jumped 545.27 points to 81,770.02 successful aboriginal trade. File | Photo Credit: PTI

Equity benchmark indices began the trade connected a buoyant enactment connected Monday (October 21, 2024), helped by buying successful blue-chip HDFC Bank, but aboriginal gave up each the archetypal gains amid a crisp autumn successful Kotak Mahindra Bank and unabated overseas money outflows.

The BSE Sensex jumped 545.27 points to 81,770.02 successful aboriginal trade. The NSE Nifty climbed 124.25 points to 24,978.30.

However, soon the benchmark indices succumbed to profit-taking and were trading lower. The BSE benchmark gauge quoted 136.52 points down astatine 81,060.86 and the Nifty traded 100.70 points little astatine 24,753.35.

From the 30 Sensex firms, Titan, HDFC Bank, Asian Paints, Axis Bank, Tata Steel and HCL Technologies were among the biggest gainers.

HDFC Bank climbed astir 3% successful aboriginal commercialized aft the steadfast connected Saturday (October 19, 2024) reported a 6% summation successful September 4th nett net to ₹17,825.91 crore connected a consolidated basis.

On a standalone basis, the largest backstage assemblage lender’s post-tax nett grew to ₹16,820.97 crore during the reporting period, arsenic against ₹15,976.11 crore successful the year-ago period.

Kotak Mahindra Bank, Bharti Airtel, IndusInd Bank, Mahindra & Mahindra and NTPC were among the laggards.

Kotak Mahindra Bank tanked implicit 5% aft the company’s quarterly net failed to cheer investors.

In Asian markets, Seoul, Tokyo and Shanghai were trading successful the affirmative territory portion Hong Kong quoted lower.

The U.S. markets ended higher connected Friday (October 18, 2024).

Foreign Institutional Investors (FIIs) offloaded equities worthy ₹5,485.70 crore connected Friday (October 18, 2024), according to speech data. However, Domestic Institutional Investors (DIIs) bought equities worthy ₹5,214.83 crore.

Global lipid benchmark Brent crude climbed 0.44% to $73.38 a barrel.

Recovering from its aboriginal lows, the BSE benchmark climbed 218.14 points, oregon 0.27%, to settee astatine 81,224.75 connected Friday (October 18, 2024). The Nifty ended 104.20 points, oregon 0.42%, higher astatine 24,854.05.

Published - October 21, 2024 10:35 americium IST