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.
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20. In October, FPIs invested a net sum of Rs 22,033 crore.
The Sensex closed 202 points lower to end at 26,838.
While gold added Rs 310 to hit the record level, silver rose by Rs 800 to Rs 62,000 per kilogram.
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
India's exposure to Greece being limited fuelled the rally.
The broader markets outperformed the benchmark indices.
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.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
Inflation rate during August, the data for which is yet to be released, was likely to remain at about 7 per cent, said SBI Ecowrap.
'Today, there is no easy money to be made after the run-up in equities.'
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.
The S&P BSE Sensex gained 57 points to end at 26,064.
The 30-share Sensex ended at 25,706 down 151 points.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
Led by the weak trend in the broader market, the market capitalisation of BSE-listed companies plunged Rs 1,65,437.91 crore to Rs 1,38,54,439.41 crore.
Equity markets braved all odds this fiscal and rewarded investors with high returns as the benchmark Sensex surged more than 66 per cent despite COVID-led disruptions and concerns over its impact on the economy. Market analysts termed FY 2020-21 as a roller coaster ride for not only Indian markets but also for equity indices globally due to the pandemic. In an unprecedented come back, the 30-share BSE Sensex has jumped 19,540.01 points or 66.30 per cent so far this fiscal. This extraordinary rally holds significance as markets faced volatile trends this fiscal.
Markets are assuming that by the second half of 2021, the world will be approaching some type of normalcy, points out Akash Prakash.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
The 30-share Sensex gained 118 points to end at 27,394.
Observing that US' economic recovery is proceeding at a moderate pace, US Federal Reserve Board chairman Ben Bernanke said on Wednesday the central bank might need to intervene if policymakers enact short-term spending cuts that hurt growth.
Top gainers in the Sensex pack included Tata Steel, Vedanta, SBI, Tech Mahindra, Bajaj Finance, Asian Paints, M&M, NTPC and PowerGrid, rising up to 3.95 per cent.
The 30-share Sensex ended up 390 points at 26,637 and the 50-share Nifty closed 118 points higher at 7,961.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
Indian markets on Thursday shrugged off any negative impact.
Index heavyweight RIL surged 3% to end above Rs 1,000 mark while IT majors were also the top gainers.
'It is less dependent on imported capital.'
The BSE Sensex surged over 442 points to close at its life-time high of 38,694.11 and the broader NSE Nifty ended at a fresh record of 11,691.95, rising 134.85 points.
The S&P BSE Sensex surged 217 points to end at 25,736.
A strong and stable dollar is both in the American interest and in the interest of the global economy, US Federal Reserve Board chairman Ben Bernanke said on Wednesday.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
The apex bank also noted that manufacturing activities slowed down in certain parts of the country.
The rupee ended lower by six paise at 65.73 against the US dollar on Monday.
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
Thus far in FY21, BSE, NSE have rallied 70 per cent and 71 per cent, respectively.
