Allotment could be low, and expected listing-day gains can quickly morph into losses if sentiment takes a turn for the worse
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
Portfolio returns, say analysts at Morgan Stanley, are more likely to be driven by bottom-up stock-picking rather than top-down macro forces.
The broader NSE Nifty sank 177.65 points or 1.53 per cent to 11,419.25.
Reliance Industries was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by Kotak Bank, Maruti, HDFC twins, Titan, L&T and Axis Bank. On the other hand, IndusInd Bank, ONGC, ITC and Bajaj Auto closed with losses. the NSE Nifty settled 516.80 points, or 6.62 per cent, up at 8,317.85.
JM Financial Services, which split from its seven-year partner Morgan Stanley in February, had given up two key businesses viz., institutional broking & sales & equity research, to the US bank for $425 million (Rs 1,912 crore).
The liquidity-fuelled rally will continue for some time, however, fundamentals are getting stretched.
A K Prabhakar, senior VP and Head - Equity Research (Retail), Anand Rathi Financial Services Ltd, will host a chat on Friday, June 14, between 4 pm and 5 pm.
Will Murthy's return change the fortunes of Infosys? If yes how soon will the table be turned?
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
Global equity research firm Standard & Poor's has projected a significant jump in the American Depository Receipts
It's hard to revive investment, as a quarter of stalled projects need Centre's nod, says the research firm.
Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
Dr Anthony Fauci has been named as Chief Medical Adviser to the President on COVID-19, while Dr Rochelle Walensky has been named as Director of the Centers for Disease Control and Prevention; and Dr. Marcella Nunez-Smith as COVID-19 Equity Task Force Chair.
Top gainers in the Sensex pack included Yes Bank, TechM, Bajaj Finance, Bharti Airtel, Maruti, Asian Paints and Hero MotoCorp - rising up to 5.30 per cent. The 50-share Nifty ended 85.65 points, or 0.79 per cent, higher at 10,948.25 points.
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
The only asset class which has given them positive real returns in the last five years is gold, says Ridham Desai, strategist and head of India Equity Research at Morgan Stanley India.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Analysts expect sales growth of Sensex firms to drop to 14-quarter low of 5.6%; Poor show by Tata heavyweights, BHEL and ONGC could drag earnings down.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
The field of behavioural finance says articulating an investing philosophy and then sticking with it can help investors avoid the mistakes that often arise with ad-hoc investing.
'The market won't wait for earnings to recover.'
The beleaguered Deutsche Bank announced major overhaul of its business, which included discontinuing loss-making equities trading business, creating a new 'bad bank', and cutting 18,000 jobs. Deutsche Equities India employs 35 people, all of whom could face the job axe.
Industry experts are of the opinion that the spurt in recruitment happened as IT services firms went aggressive on hiring in anticipation of a strong demand environment.
The share price of Infosys Ltd came under pressure on Wednesday as global equity research firm CLSA said its stock could fall 40% from the current levels in 12 months.
According to global equity research firm CLSA, the Indian market is still trading with a 'premium', although it has come down considerably.
In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
In the Sensex pack, Axis Bank, HCL Tech, M&M, TCS, HDFC, Kotak Bank, PowerGrid, Hero MotoCorp and Vedanta were among the top gainers, rising up to 1.91 per cent. Sun Pharma was the biggest loser, cracking 5.78 per cent.
Indian markets started 2012 on a positive note. Ridham Desai, managing director and strategist and head of India equity research, Morgan Stanley, says, he expects a 15 per cent upside in the Sensex this year.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
Adjusted gross revenue of the industry has grown just 5.3 per cent during the financial year ended March 31
Report maintains its underweight call on India.
Top gainers in the Sensex pack included Bharti Airtel, Tata Motors, IndusInd Bank, Kotak Bank, Hero MotoCorp, Asian Paints and PowerGrid, which rose up to 2.53 per cent.
The Street was hoping that investors will lap up shares of high-dividend companies on optimism that their payouts will increase further, thanks to the 20 per cent tax saving. However, the trade failed to materialise as wealthy investors stayed away fearing high tax outgo, and experts raised doubts on whether companies would actually increase cash dole outs.
UBS Securities, broking arm of the largest Swiss bank, and Australia's Macquarie Equities Research are the most bearish.
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