Markets extended losses for the third straight day and ended over 1% down on Thursday, amid weak global cues, as institutional investors booked profit in blue chips.
The problem is with the broking model and what brokers are allowed to do, notes Debashis Basu.
Don't rush to buy or sell aggressively. At best, exit stocks and mutual funds performing badly if there are profits.
HDFC Bank's shares fell by 3.46 per cent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 per cent to Rs 655.10.
Life Insurance Corporation of India's holding increased in nine Sensex companies during the January-March 2013 quarter, showed an analysis of the shareholding pattern of Sensex constituents.
Investors became richer by Rs 8,19,804 crore in Samvat 2069, aided by a hefty 13.5 per cent gains notched by benchmark Sensex during the Hindu calendar year.
Chief executives at the global CEOS' meet proposed diverse solutions to deal with today's complex world.
In the season of trading allegations between the Congress and the Bharatiya Janata Party in Gujarat, the opposition party has now turned to Gujarat Chief Minister Narendra Modi government's blue chip company Gujarat State Petroleum Corporation alleging huge irregularities to benefit a company engaged in pipeline manufacturing in Kutch.
The 50-share NSE Nifty ended 56.60 points, or 0.55 per cent, higher at 10,322.25
Sensex ends 133.06 points down at 28,717.91; Nifty falls.
The NSE Nifty too fell sharply by 68.55 points, or 0.67 per cent, to settle at 10,118.05.
Why does the world's fastest-growing major consumer of energy fail to attract investments in oil and gas? This is a question worth pondering after private sector conglomerate Reliance Industries Ltd (RIL) failed to close a $15-billion downstream asset deal with Saudi Arabia's national oil company, Aramco. It's understandable if multi-billion dollar investments in oil and gas projects or deals involving state companies that need to traverse a complex bureaucracy at state and federal levels and the corridors of ministries unravel. However, Mukesh Ambani-run RIL, India's most successful energy company, is not typically known to fumble on closing deals (Ambani closed deals worth around Rs 2 trillion early last year in telecom and retail with blue chip investors).
'12250 should be considered a reasonable level to re-enter into the market.'
Continued capital inflows by foreign funds and retail investors kept market's mood upbeat, traders said.
Most sectoral indices up; observers await Budget for details on policy reforms.
ITC, L&T, Reliance Industries and ICICI Bank weighed on the indices.
Push the broader market Sensex to surge over 1,300 points or more than 7% during the period.
Nifty could consolidate below 6100 for a week or so. Those who missed the bus at 5400 could consider buying their blue chips in the consolidation that ensues, says Sonali Ranade
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
At the recently concluded Dubai airshow, Akasa, Rakesh Radheyshyam Jhunjhunwala's new airline, signed a $9 billion deal with American aircraft maker Boeing to buy its 737 MAX planes and a $4 billion one for engines with CFM, a joint venture between GE of the US and Safran of France. Unlike his financial doppelganger Warren Buffett, who divested billions from his airline stock portfolio at the start of the pandemic, Jhunjhunwala is wagering his billions in a brand new airline. The legendary investor bought a roughly 40 per cent stake in SNV Aviation in September, Akasa's holding company, started in March by three former Jet Airways colleagues. With aviation still to recover from its pandemic slump, the big question around his foray into domestic aviation, due to take off in summer 2022, is whether it is another pie in the sky.
Gaurav Mashruwala, renowned financial planner chat with our readers on investment, debt, and spending.
In 2017, a consortium led by Russian state oil company Rosneft agreed to buy Essar Oil for $12.9 billion in India's biggest foreign acquisition of a homegrown company. Rosneft's buyout of Essar's assets was meant to herald a wave of energy investments in India - over six decades after Esso, Caltex and Shell invested in India's refining sector in the 1950s. But the government has tripped up in its efforts to sell Bharat Petroleum Corporation Ltd (BPCL), formerly Burmah Shell, a blue chip public sector company. Bidders include a couple of global funds and resources firm Vedanta.
Fell by 95.55 points to 19.484.77 on heavy selling in last 30-minute of trade.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The present consolidation can be used to buy into some fundamentally good blue chips including select PSU banks that have lagged the general market, says Sonali Ranade
A quaint Indian idea called face value is putting high-performing companies out of the reach of retail investors, observes Debashis Basu.
Even as the concerns are being raised about some changes in India's policy concerning overseas investors, the market data suggests a rather bullish stance adopted by the FIIs in their stock market dealings this year.
Wondering if mutual fund investments can earn you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
As always buy into blue chips that are currently at lows, suggests Sonali Ranade
The broader NSE Nifty touched a high of 10,638.35 before settling at 10,584.70 -- up 20.65 points
Spend time accumulating good blue chips that indicate that prices have bottomed out, says Sonali Ranade
We are pretty much towards the end of a bear market in terms of wave counts and these are times to accumulate blue chips, not sell, says Sonali Ranade
The market benchmark appears set to end 2013 on a positive note with a modest gain of over 7 per cent, but such gains are not to be seen in a majority of stocks available in the market, which predominantly include those of mid-size and smaller companies, shows an analysis of various indices.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Hindustan Unilever on Tuesday reported 15.59 per cent jump in net profit at Rs 871.36 crore (Rs 8.71 billion) for the third quarter ended December 31, 2012, on account of robust sales across various business verticals.
Shares of software services firm Wipro fell by over 5 per cent in the morning trade today even as the company reported 18 per cent rise in its consolidated net profit for the third quarter ended December 31, 2012.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
The 5 per cent stake sale in Steel Authority of India is likely to fetch the government over Rs 2,000 crore (Rs 20 billion) at current market prices.
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