A round-up of Friday's action in the UEFA Nations League.
Though most analysts expect the global central banks to keep the liquidity tap open, valuations of Indian markets, they say, are beginning to look stretched. Against this backdrop, they remain cautious, with some even expecting a minor correction from here on.
Asian Paints was the top loser in the Sensex pack, shedding 3.30 per cent, followed by Infosys, HCL Tech, ONGC, M&M, TCS, IndusInd Bank and L&T. On the other hand, ITC, Kotak Bank, Bajaj Finance, HUL and ICICI Bank were among the gainers, spurting up to 5.45 per cent.
Equity benchmarks Sensex and Nifty ended marginally lower on Tuesday as investors booked profits at higher levels amid a mixed trend in global markets.
The Anil Dhirubhai Ambani Group, which is raising Rs 11,700 crore through the public offer of Reliance Power, has seen a value erosion of Rs 48,000 crore in the last seven days.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
As many as 205 stocks touched their one-year low on the Bombay Stock Exchange.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
These include Adani Enterprises, BEML, TVS Motor, KEC International, Sintex Industries, Ceat and Suzlon Energy.
"I am also quitting as member of Legislative Council," Thackeray said in a webcast.
Usually, a fall in oil prices is followed with a cut in retail prices of auto fuels and the government passes on the benefit to consumers. However, Morgan Stanley believes gains this time around will remain capped.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
The government on Thursday more than doubled the price of natural gas that is used to produce electricity, make fertilisers, turned into CNG and piped to household kitchens for cooking, on the back of a spike in global energy prices. The price of gas produced from old regulated fields, such as the nation's largest gas field of Bassein of ONGC, will rise to a record high of $6.10 per million British thermal unit (mmBtu) from the current $2.90 per mmBtu, according to the oil ministry's Petroleum Planning and Analysis Cell (PPAC). The new price, which is likely to result in a hike in CNG and piped cooking gas rates, will be for six months beginning April 1.
The story of Iceland is the story of life, notes Payal Singh Mohanka after a recent journey to that fascinating land.
Experts attribute this trend to a combination of end of capital expenditure cycle, increased automation, RIL's preference for time-bound labour contracts, and telecom and retail's outsourced human resource model.
India's ambitious plans to generate an additional 180,000 Mw of power in the next seven years will face hurdles if Indonesia, the second largest supplier of thermal coal, goes ahead with plans to cap coal exports to serve domestic demand.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
New Zealand pacer Tim Southee said their World Test Championship triumph will take at least a couple of weeks to sink in.
The 31-year-old leaves as England's top goalscorer with 53 goals and most-capped outfield player with 119 appearances.
"Our patience is a sign of our self-confidence, but no one should make the mistake of testing it," Gen Naravane said.
Sectorally, BSE metal, basic materials, energy, realty, power, oil and gas, finance, FMCG, bankex and telecom indices fell up to 1.71 per cent.
NTPC was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by ICICI Bank, Titan, L&T, SBI, Sun Pharma and Nestle India. On the other hand, HCL Tech, Kotak Bank, Tech Mahindra, Hero MotoCorp and Infosys were among the laggards.
Reliance Industries Ltd (RIL) was the star performer in Friday's session, spurting over 6 per cent to its all-time high, Other Sensex gainers included Bajaj Finance, PowerGrid, ICICI Bank, Maruti, Axis Bank and SBI. On the other hand, IndusInd Bank, HCL Tech, ITC, M&M HDFC and Infosys shed up to 2.94 per cent.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
Divya Rolla explains how these asanas will help you improve your overall health.
The dozen firms to have listed following their IPOs have seen an average listing day gain of 49 per cent. IPO applicants have made money on all the deals, barring two, which saw modest declines on listing day.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
The soaring prices of metals like lithium, nickel and cobalt, which are the primary constituents of the cell, as well as supply chain bottlenecks, are also pushing up the cost of batteries
In a quick reversal of fortunes, Reliance Industries reclaimed top position in the market capitalisation chart, replacing TCS after the IT major earlier on Friday briefly became the most valued firm.
Finance Minister Nirmala Sitharaman presents her fourth Budget in Lok Sabha on Tuesday.
Both the indices closed at five-month highs, led by financial services, IT and metal stocks, amid persistent foreign fund inflows.
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
The brokerage said it expected corporate earnings to turn around.
State-owned energy major ONGC on Thursday reclaimed the status of the country's most-valued company, pushing IT giant TCS to second slot.
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
Swati Kulkarni, executive vice-president and fund manager - equities at UTI Mutual Fund tells Puneet Wadhwa that though mid-and small-cap companies are trading at a higher valuation as compared to large-cap peers, one can still find value in select pockets.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
