The recent blip in housing sales on a quarter-on-quarter (Q-o-Q) basis should not worry investors as the long-term prospects of real estate stocks remain on a strong foundation, according to analysts. In the first half of the calendar year 2024 (H1CY24), realty stocks surged up to 104 per cent. This sharp run should be used to book partial profit in related stocks, suggested Deepak Jasani, head of retail research at HDFC Securities.
Market chatter suggests that the BJP could win fewer than 300.
Led by Trent, which hit its lifetime-high recently, apparel retailers have gained between 10 per cent and 36 per cent over the past three weeks. Given the network of physical stores, these stocks shall be major beneficiaries of the unlock theme, with most states doing away with Covid restrictions. Amid improving footfall, analysts expect the sector to post double-digit growth in FY23.
Investor wealth surged Rs 602,001.9 crore in two days of market rally which was supported by positive global cues. The 30-share BSE index on Tuesday closed at 50,136.58, an increase of 1,128.08 points or 2.30 per cent. During the day, it gained 1,259.95 points to touch 50,268.45. On Friday, the benchmark had closed 568.38 points higher. Markets were closed on Monday for Holi. Driven by the rally, the market capitalisation of BSE-listed companies soared Rs 602,001.9 crore to Rs 2,04,77,472.33 crore in two trading days.
A probe into the fraud had revealed that the main accused, Shiv Raj Puri, then a Citibank relationship manager at its Gurgaon Branch, was offering to its clients fabricated investment schemes with guaranteed high returns and received signatures on blank fund transfer forms.
The intensifying debt woes in Europe with its epicentre in Greece, is likely to have a considerable impact on the domestic stock market in the immediate short-term, as foreign investors are likely to exercise caution before parking fresh funds, say analysts.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
At the BSE, 1,791 stocks declined, while 948 advanced, 110 stocks remained unchanged.
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
Auto stocks will be in focus
Boosted by a rally in stocks, total market valuation of listed companies at the National Stock Exchange hit the Rs 100 lakh crore-mark on Wednesday.
The benchmark index on Wednesday surged 314.92 points or 1.05 per cent to close at 30,248.17 on widespread buying spurred by forecast of a normal monsoon this year.
Weakness of dollar in the overseas market also boosted the domestic currency, a forex dealer said.
This is the fourth straight weekly plunge for both the indices.
FII investments, movement of rupee against dollar and crude oil to influence trading
Shares of Bharti Airtel on Wednesday fell 6 per cent amid reports that the government is learnt to have approved levying of Rs 650-crore penalty on the company for violating roaming norms in 13 service areas between 2003 and 2005.
Rupee hits new low at close against dollar.
Lending rates in certain segments may be increased; fixed depositors may lock into existing rates.
Indian stock markets on Thursday witnessed a record daily turnover of over Rs 5 lakh crore, even as the benchmark Sensex missed its all-time intra-day high by a whisker.
The Sensex resumed lower at 28,566.50 and dropped further to 28,183.32 before finishing at 28,227.39, showing a loss of 490.52 points or 1.71 per cent.
Mid-cap and small-cap stocks on the BSE were on the buyers' radar on Tuesday as investors booked profits in large-cap shares and the benchmark Sensex fell 264.57 points from a record close.
Investor wealth on Tuesday soared by nearly Rs 1 lakh crore as stocks rallied after the RBI hiked a key policy rate to tame inflation while enhancing liquidity for the banking system.
Investor wealth on Thursday soared by Rs 1 lakh crore, triggered by heavy buying in the stock market, with the BSE benchmark Sensex surging about 382 points to close at near six-week high levels.
Stocks of companies where promoters have pledged a high percentage of shares, like the Zee group, can be volatile. Such stocks are also prone to rumours, reports Sanjay Kumar Singh.
Fourth quarter earnings of blue-chips such as Infosys, TCS, Wipro, RIL and inflation data for March will dictate the trend on the bourses in a holiday-shortened week ahead, experts said.
On the macro front, market participants will closely watch the FY'15 fiscal deficit target
The total investor wealth in domestic stock markets soared by Rs 1.53 lakh crore as investors cheered energy reforms, including hike in natural gas prices.
The RBI fixed the reference rate for the dollar at 64.1505 and for the euro at 72.2720.
Indian stock markets are likely to remain bullish during the current Hindu calendar year (Samvat 2071) and investors would continue to reap rich gains, say experts.
Shares of IT major TCS on Friday tumbled over 8 per cent after its September quarter numbers failed to meet market expectations.
Markets at close: Sensex ends in green; Nifty rises to new closing peak.
Indian benchmark indices may witness bouts of volatility this week as traders roll over positions in the derivative segment on expiry of near-month contracts, say experts.
In the 30-share Sensex constituents, 16 ended lower and 14 gained, helping the benchmark indices trim losses.
Rupee movement, global cues key for stocks this week: Experts
Four of the founders of Infosys are seeking to raise about $1.1 billion by selling stakes in the company.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
While such buying could indicate confidence in the business, investors should do a comprehensive evaluation before getting into the stock.
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
Shares in Infosys Ltd rose as much 6.7 percent on Friday, after the company raised the lower-end of its fiscal 2014 dollar revenue growth guidance.
While stocks are at cheap valuations, the volatility can be unnerving.
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