Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
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Banks, real estate and metal scrips among the top losers.
The S&P BSE Sensex closed at 26,190, up by 43 points and Nifty50 settled above 7,950 to end at 7,963, up by 17 points
The combined networth of India's 100 wealthiest is $381 billion (nearly Rs 25.5 lakh crore), a rise of 10 per cent from $ 345 billion in 2015
A year ago, India's #MeToo movement witnessed women across India speak up against sexual harassment. Nikita Puri assesses what, if anything, has changed.
Jeff Bezos of Amazon tops the list for the second consecutive year with networth of $147 billion.
Besides the dairy business, the transaction also involves sale of 100 per cent shareholding in Sunfresh Agro Industries, a step-downsubsidiary of Prabhat, via a share purchase agreement, the company said.
Sensex climbs higher at close, bluechip stocks in focus.
Attractions range from start-up challenges to non-monetary perks; employee stock options also play a role.
Falling incomes and longer winter to translate into lower demand for at least some months.
A recovery in rupee, buying by domestic institutional investors, encouraging earnings by select blue-chips and stock specific buying helped the market get back on its feet
The market breadth, indicating the overall health of the market turned negative from positive
Who is to take their place? Will a new generation of entrepreneurs start up with better business sense, or at least better luck? But the so-called unicorns are mostly copy-cat entrepreneurs whose cash flow is funded by overseas (including Chinese) money, notes T N Ninan.
Employees asked to work from home... cancelled travel plans... curtailed meetings... Caution and precaution dominate Corporate India's response to Covid-19.
After a few exciting days in Nepal, a land of alluring stupas, Rediff.com's Rajesh Karkera, on a tri-nation drive, heads east via India into mysterious Bhutan.
Capital goods shares continued to trade firm in late noon despite weak market trend on the back of encouraging core sector growth in February.
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
Maruti Suzuki, Asian Paints, L&T, ONGC and Infosys have gained between 1%-1.5%.
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Markets ended tad lower with financials declining the most ahead of RBI policy review tomorrow.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
Investors will keenly watch out for the Futures & Options expiry for July on Thursday
The benchmark BSE Sensex ended down 2.23 per cent. The Bank Nifty fell 3.59 per cent.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Across the country, companies have stepped up their act to contain the crisis. IT and other new economy firms seem to have taken a lead.
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of SBI.
8 out of 12 sectoral indices closed in red with BSE IT and Healthcare indices losing 0.5%.
The BSE Midcap ended up 0.5% while the Smallcap index ended nearly 1% higher
The Aditya Birla group's decision to merge two companies, each with an existing clutch of diverse businesses, flies in the face of the accumulated wisdom regarding conglomerates, says T N Ninan.
'A bold, progressive step forward,' Kotak Mahindra Bank CEO Uday Kotak said of Nirmala Sitharaman's corporate tax breaks.
Ayan Pramanik and Shivani Shinde Nadhe report on the uncertainties that have dragged down shares of TCS, Tech Mahindra and HCL Technologies.
Bank shares were the top losers along with index heavyweight RIL
The Mumbai-based brokerage has constructed India Family Firm Index out of listed companies.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
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Consultants say those selling imported consumer durables, apparel, food products, furniture, etc, are the ones hit the hardest.
'We may bite the bullet and draw up plans for privatisation.' 'If that is done now, the sale of the government stake will fetch money; a delay will see erosion in whatever value is left in these banks,' says Tamal Bandyopadhyay.
Nifty snaps 10-day winning streak
RBI had received 72 applications for small finance bank licences.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
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