Accommodative monetary policy has driven a bull market in stocks in recent years, but the Bank of England is expected to raise interest rates early next year and the U.S. Federal Reserve not long after, tempering future gains.
Stocks of companies having operations and exports to Europe were the top losers.
The S&P BSE Midcap and S&P BSE Smallcap indices gained 0.4% and 1%, respectively
Seven years after it announced Nexa, there's no mistaking the seriousness with which Maruti wants the segment to grow, says Pavan Lall.
At Rs 919 crore, InterGlobe Aviation, the parent firm of low-cost airline IndiGo, posted its best-ever fourth quarterly net profit in the January-to-March quarter (Q4) of financial year 2022-23 (FY23). The bottom-line, however, was lower than the Street's expectations where estimates ranged from Rs 1,160 crore to Rs 2,180 crore. On the bourses, shares of IndiGo have added just 30 paise (0.01 per cent) since the announcement of the Q4-FY23 results on May 18.
Conventional wisdom is that when the US sneezes, emerging markets like India catch a cold. And yet the Indian stock market went up last year, points out Debashish Basu.
Aviation companies were in focus with all the three airliners SpiceJet, InterGlobe Aviation and Jet Airways adding in the range of 2% to 3% on the BSE
BSE Midcap and BSE Smallcap indices hit their fresh lifetime highs for the second day in a row
The S&P BSE Midcap and the S&P Smallcap indices rallied over 1% each
There were more than three losers against every gainer on BSE
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
A steep decline in the Asian equities after crude oil fell to its lowest since September 2003 dented sentiments.
The S&P and Dow dipped the most in a day since September 28.
IndusInd Bank was down nearly 1% even after it reported a 21% rise in its fourth-quarter profit
Financials and auto stocks were the top losers while energy and IT shares recovered
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
Apple's stock market value rose beyond $700 billion.
BSE Realty index zoomed by almost 7% followed by counters like Metal, Oil & Gas, Auto, Banks, Auto, Healthcare and Power, all surging between 1-5%.
Banking stocks dipped with Nifty PSU Bank index falling 1.7% after the government notified the ordinance that seeks to tackle non-performing loans in the sector.
NTPC, Sun Pharma Coal India and Asian Paints were among top losers on BSE Sensex
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Investors indulged in profit booking at attractive and higher valuations
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
BSE IT index was the biggest sectoral loser, down 1.5% dragged by TCS
The 30-share S&P BSE Sensex ended up 130 points at 25,400 and the Nifty50 rose 46 points to close at 7,759.
Japan's Nikkei fell 0.5% and South Korea's Kospi lost 1.3%.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
Stock specific action is seen with some of the prominent companies posting their quarterly numbers.
The sharp correction in equity markets has taken a toll on mid-and-small cap stocks that have underperformed their large-cap peers. Thus far in calendar year 2022 (CY22), the mid-and-small cap indexes on the BSE have slipped over 8 per cent and 7 per cent respectively, as compared to a fall of around 6 per cent in the S&P BSE Sensex. While investors dumped mid-and small-cap stocks as the markets remained choppy over the past few weeks, analysts still expect these two segments to see good investor interest from a medium-to-long term perspective.
Metals bucked the trend and shone across the board.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
Premium valuations era started in 2006 and went hand in hand with decline in the US interest rates
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
The breadth, indicating strength of the market was strong
From the 30-share pack, Sun Pharma, TCS, Tech Mahindra, NTPC, Wipro, UltraTech Cement, Dr Reddy's Laboratories and Infosys were the major gainers, jumping up to 3.99 per cent. In contrast, Tata Steel, Nestle, Titan Company, PowerGrid, Reliance Industries Limited and State Bank of India were among the laggards.
OIL, IOC, HPCL, BPCL slipped between 0.1-1.5% each while the oil producing companies such as ONGC (0.1%), RIL (1.5%), GAIL(2.6%) also edged lower.
Oil tanked to a 7-year low as OPEC decided to maintain production.
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