As the Indian equities signed off 2019 on a remarkable note, the m-cap of BSE-listed companies rose by Rs 11,05,363.35 crore to Rs 1,55,53,829.04 crore.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
Tata Steel's domestic operations have been its cash cow.
Cortal Consors, an arm of BNP Paribas, is planning to foray into the wealth management services market in India, targeting the high-networth investors, whose incomes range from Rs 10 lakh to Rs 1 crore (Rs 10 million).
Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
Experts said if the slowdown, and subsequent weakness in GST mobilisation, continued, it would curtail the Centre's resources to a considerable extent in the current financial year.
Out of the 30-share Sensex pack, 25 scrips ended with gains while 4 registered loss. Sun Pharma ended steady
In the latest move, the telco has reduced validity for its Rs 309/509 packages from 84 days to 56
Big Mumbai developers' inventory at Rs 53.4 crore.
At the BSE, 1,552 stocks advanced, while 1,419 declined and 118 remained unchanged.
According to Rahul Rege, business head (retail) at Emkay Global Financial Services, it is difficult to track more than 10 stocks.
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Rupee ends flat after hitting 9-1/2 month low.
The BSE 30-share Sensex has plummeted by 1,631.59 points or 6.24% to 24,485.95 so far this month
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
The IOC share sale is the fourth disinvestment this fiscal but the biggest in 2015-16 so far.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
Increased demand from oil importers for the American currency kept pressure on the rupee
Indian stock market investors are laughing all the way to the bank with the total market value of domestic listed companies soaring to a record $1.5 trillion on a day when the benchmark BSE Sensex ended at a new closing high of 25,396.46.
Adani Ports, BHEL, Tata Motors, ONGC, Mahindra & Mahindra and Tata Steel were the top losers.
On the macro front, market participants will closely watch the FY'15 fiscal deficit target
The rupee had gained seven paise to close at 61.15 on Friday on suspected RBI intervention in the forex market.
Forex dealers said apart from month-end demand for the American currency from importers, dollar's gains against other currencies overseas amid US data showing more-than-expected economic growth in the second quarter also put pressure on the local unit.
The Fed's decision on tapering its monthly $85 billion bond-buying programme is expected later on Wednesday.
UK operations of several Indian companies might take a hit.
'The government's projections for 2019-2020 will be disappointing big time.'
Volatility is part and parcel of stock market.
The IPO is expected to bring handsome fees for the selected banks at a time when billion-dollar listings have become scarce
Forex dealers said besides fresh demand from importers for the American unit, a lower opening in the domestic equity market as well as decline in industrial production growth to 4-month low of 0.5 per cent in July, put pressure on the rupee.
Other Sensex gainers were Infosys, Wipro, ICICI Bank, Hero MotoCorp, L&T, Axis Bank,, Tata Steel, HDFC and Cipla.
RBI will review the monetary policy again on September 29.
