Brokers said investor sentiment turned choppy on selling by foreign institutional investors ahead of the September month derivatives expiry on Thursday.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
HDFC was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bajaj Finance, HDFC Bank, IndusInd Bank, PowerGrid, UltraTech Cement, TCS, Tech Mahindra and L&T. On the other hand, ONGC, Maruti, Tata Steel, HUL, Bajaj Auto and Sun Pharma were among the laggards.
Select the exact category by matching your investment horizon to the portfolio duration, suggests Sanjay Kumar Singh.
Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
Rupee and bonds weakened on Thursday after the US Federal Reserve signalled it may increase its policy rates at the next meeting in December.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
Even if the bull run may continue, most experts say some profit booking is called for, points out Sanjay Kumar Singh.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
Gains in realty, teck, IT, power, consumer durables, banking and oil & gas stocks helped both the key indices to score gains.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
The 50-share NSE Nifty closed lower by 19.25 points, or 0.19 per cent at 10,121.90
The 50-share NSE Nifty too rose by 20.35 points, or 0.19 per cent, to end at 10,908.70.
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
'Indian macro conditions have never been better, and many businesses will safely compound earnings over the next five years.'
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.
The market's sensitivity to the US Fed's balance sheet changes makes it vulnerable to the possible tapering of the bond buying programme and the resulting stagnation or even shrinkage in the balance sheet.
This is the first hike in about a decade, signaling a recovery.
IndusInd Bank was the top gainer in the Sensex pack, rallying around 8 per cent, followed by Kotak Bank, Reliance Industries, HDFC, Axis Bank and SBI. On the other hand, Hero MotoCorp, Tata Steel, Bajaj Auto and ONGC were among the laggards.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
Health officials in United States on Friday confirmed that a resident of Oregon has tested positive for coronavirus with no known history of travel to countries severely affected by the outbreak and no known contact with infected individuals.
'In the overall global portfolio, India's weighting has come down in the past seven months.'
HDFC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by HCL Tech, M&M, HDFC Bank, Tata Steel, SBI, Bajaj Finance and Infosys. On the other hand, Axis Bank, Asian Paints, HUL, Titan and IndusInd Bank were among the laggards.
After opening higher, the markets continued to trade in the positive zone in the afternoon session as traders were encouraged by RBI governor Shaktikanta Das's statement that the new resolution framework is expected to give durable relief to borrowers amid the Covid-19 crisis, said Narendra Solanki, head-equity research (fundamental), Anand Rathi.
The US Federal Reserve has announced to maintain its bond purchase tapering programme.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
Many believe that the surge in the markets defy economic reality and is being fuelled by aggressive monetary easing by central banks across the world.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
'Today, there is no easy money to be made after the run-up in equities.'
Traders broadly expect the rupee to stay in a 61.50 to 63.50 range over the next three months.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
Fears that FIIs would curtail their investments in emerging markets following the Fed's tapering plan hurt sentiment.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
In August, the Fed announced that it would develop a "new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States". The Fed Board asked for comments on FedNow by November. In reply to this, Google mentioned its experience of launching Google Pay -- Google's payments app which uses the UPI -- in India.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
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