A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
The NSE Nifty finally ended at a fresh 2009 closing high of 5172 - up 34 points.
The rise in India Inc's market value was led by asset-light firms.
Demand among several pre-Budget representation by BSE Brokers' forum
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
The same set of companies had reported 3.8 per cent annual net profit growth in the previous quarter and 7.5 per cent annual growth in the same quarter last financial year.
It is the country's largest issuer of bonds by default. But the government of India thinks it has enough expertise to give the private players a tip or two on how to time the equity market.
'The voice coming out of every home is Modi, Modi, Modi...' 'He is in people's hearts. Who can stop us from 400 paar?'
Institutional desks of many brokerages in India are in the process of selling about Rs 2,000 crore worth of equity holding of bankrupt US investment bank Lehman Brothers Inc in some Indian companies.
IndusInd Bank was the top gainer in the Sensex pack, surging around 5 per cent, followed by Bharti Airtel, ICICI Bank, Axis Bank, PowerGrid, Tata Steel and HDFC Bank.
Currency market participants do not expect the rupee to slide immediately but feel a sharp rise is unlikely because of month-end dollar demand from importers.
'Sell in May, go away' is a popular market adage. But 'Don't sell any new shares in May' is the best kept secret of Dalal Street that's set to break. Sample this: the last four General Election election cycles starting 2004 have not seen a single initial public offering (IPO) launch during the month of May.
The Reserve Bank's of India's (RBI's) decision to increase the key short-term interest rates by 25 basis points has been termed as in-line with the street expectations by marketmen.
Hindustan Unilever and pharma stocks were on buyers' radar; rate-sensitives faced jitters ahead of the credit policy.
Dalal Street investors became richer by Rs 9.68 lakh crore in five days of market rally, where the Sensex breached the historic 73,000-mark for the first time ever to reach a new record peak, taking the market capitalisation of BSE-listed companies to an all-time high of Rs 376 lakh crore. The 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a new closing high of 73,327.94 on Monday. During the day, it zoomed 833.71 points or 1.14 per cent to reach its all-time peak of 73,402.16.
The Softbank-backed company has set a price band of Rs 72 to Rs 76 per share for the maiden share sale and is expected to test the appetite for new-age loss-making companies.
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
Fund managers and analysts believe a lot would depend on the outcome of the Reserve Bank of India's rate-setting meeting on 3rd May.
The announcement made by Sebi chairman M Damodaran that new rules on Offshore Derivatives Instruments such as PNs have come into effect in-line with the proposals made last week has put to rest all the confusion over the whole issue and normalcy is set to return to the bourses, a broker said.
'It is advisable to stay away from the markets for now and buy only on a dip.'
Godrej Properties, is on the horizon as it unlocks value in its high-value Bandra-Kurla Complex (BKC) project.
The return from the ETF investment will be more than the 8.75 per cent the EPFO offers to subscribers now.
UBS reiterated its Nifty target of 9,200 by December as it expects growth to gather steam
In ITC, LIC has invested Rs 38,358.66 crore, according to Capitaline data.
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
While many are sweating in the current environment, Rakesh Jhunjhunwala's portfolio has done well and seen new additions.
Investors want lower securities tax, tax breaks on equity investments.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
Analysts believe the measures are forward-looking as they focus mainly on the middle class and lower middle class segments, with the central bank classifying home loans below Rs 20 lakhs (Rs 2 million) in the priority sector. "The RBI's step of reducing both repo and reverse repo rates by 100 basis points is in line with the market expectations.
Panaya drags Q1 profits though revenue improves on the back of large deal wins, good traction in North America.
The Sensex stood at 13,786.91 points at the end of 2006 and closed the year 2007 at 20,286.99 points on Monday. It crossed seven thousand-point milestones -- from 14,000 to 20,000 marks -- during the year, which is the maximum for a year.
Oil, banks eneded the day in green while few in auto sector lost heavily.
Markets crashed due to domestic worries; bluechip stocks tanked too.
FIIs pour $2 bn in January; flows into India equity funds hit 54-week high; doubts on sustainability persist.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.
The bull market peak came in March 2015, at a Nifty intra-day value of 9,119.
Cumulatively, the total investors' wealth has got eroded by about Rs 2,82,000 crore so far this year.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances