Indian equities

Domestic share holdings continue their ascent, the report said. The combined holdings of domestic mutual funds and direct households in stocks have risen over 600bps since 2015 whereas those of foreign portfolio investors (FPI) have declined about 150bps. This shift persisted for the QE March 2022. FPI ownership of our sample of 75 companies fell 75bps QoQ, whereas domestic investors raised stakes 81bps, the report said.

At 9.17 a.m., Sensex was at 57,096 points, up 0.5 per cent or 277 points, whereas Nifty at 17,120 points, up 0.5 per cent or 82 points. Among the stocks, Hindustan Unilever, Sun Pharma, UPL, Divis Labs, Dr Reddy's were the top five gainers among the Nifty 50 companies, NSE data showed.

Sensex settled at 56,819 points, down 0.9 per cent or 537 points, whereas Nifty at 17,038 points, down 0.9 per cent or 162 points. "Market continued to be gripped by high volatility following a heavy selloff in the global markets led by elevated energy crisis and weak Chinese economic outlook underpinned by prospects of US rate hikes," said Vinod Nair, Head of Research at Geojit Financial Services.

Gains were mainly aided by a jump in shares in auto, realty, FMCG and PSU bank space. "Benchmark Indices gained one and a half percentage today on expectations of record GST collections for April even as FII ownership dropped to multi-year lows at 20 per cent," said S. Ranganathan, Head of Research at LKP securities.

At 9.47 a.m., Sensex was 1.2 per cent or 700 points up at 57,820 points, whereas Nifty 1.2 per cent or 208 points up at 16,162 points. Amidst the current volatility, banking stocks are at buyable valuations and IT stocks too, after the recent correction are good long-term bets, Vijayakumar added.

At 9.32 a.m., Sensex was at 56,582 points, down 1.1 per cent, whereas Nifty was at 16,988 points, down 1.1 per cent. "Markets are worried about the increasing hawkish messages from the Fed which indicate higher-than-expected rate hikes by the Fed this year. There are concerns that aggressive monetary tightening might even push the US economy into a recession in 2023. These fears are impacting risky assets," said V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Sensex settled at 57,912 points, up 874 points or 1.53 per cent, whereas Nifty at 17,401 points, up 264 points or 1.54 per cent. Among the stocks, Eicher Motors, Coal India, Mahindra & Mahindra, Adani Ports, and Kotak Mahindra Bank were the top five gainers, among the Nifty 50 companies, rallying 4.4 per cent, 4.0 per cent, 3.2 per cent, 2.7 per cent, and 2.7 per cent, respectively.

At 9.55 a.m., Sensex was 0.8 per cent up at 57,473 points, whereas Nifty 0.7 per cent up at 17,252 points. Among the stocks, Coal India, Asian Paints, ITC, IndusInd Bank, and Reliance Industries were the top five gainers, while Nestle India, Hindalco, Tata Steel, Tech Mahindra and ONGC were the top five losers, NSE data showed.

With the day's rise, the indices broke the five day losing streak. In the past five sessions, the Sensex and Nifty declined almost 4 per cent each, data showed. On Wednesday, Sensex settled at 57,038 points, up 574 points or 1.02 per cent, whereas Nifty was at 17,137 points, up 178 points or 1.05 per cent.

In the past five sessions, the Sensex and Nifty declined almost 4 per cent. High inflation amid rising crude prices weighed on the investors sentiment in the past few sessions, said analysts.