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 currency market won't care for our moans, groans, cries and sighs. The rupee will find its own level, explains Tamal Bandyopadhyay.
Investors globally pulled out more than $3 billion from equity funds focused on Emerging markets including India in a week amid concerns over the US Federal Reserve's plan of curtailing its stimulus drive starting later this year.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
The broader NSE Nifty jumped 57.25 points or 0.49 per cent to close at 11,844.10.
The S&P BSE Sensex surged 217 points to end at 25,736.
Select the exact category by matching your investment horizon to the portfolio duration, suggests Sanjay Kumar Singh.
There are overvaluation and excesses in many pockets of the market. This is most obvious in the IPO market, where loss-making companies have inflicted large losses on investors, observes Debashis Basu.
Many banks' profits will take a hit and a few of them could even end up being in the red because of treasury losses, triggered by a sudden spike in government bond yields in the rising interest rate cycle, notes Tamal Bandyopadhyay.
'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 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.
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.
State Bank of India's (SBI) two-year-long wait to expand its operations in the United States is set to end with the New York State Banking Department (NYSBD) clearing the bank's application for opening another branch, senior SBI officials confirmed.
Even if the bull run may continue, most experts say some profit booking is called for, points out Sanjay Kumar Singh.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
The 30-share Sensex ended up 255 points at 26,219.
After rallying over 300 points, the 30-share BSE Sensex ended 169.14 points, or 0.42 per cent, higher at 40,581.71. Similarly, the broader NSE Nifty settled 61.65 points, or 0.52 per cent, higher at 11,971.80.
Gold price is declining due to the strengthening of dollar in the wake of the US Federal Reserve's move to control rate on inflation concerns.
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.
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.
Heavy unwinding by foreign portfolio investors and lacklustre equities dampened the sentiment
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.
'Indian macro conditions have never been better, and many businesses will safely compound earnings over the next five years.'
The 30-share Sensex ended down 249 points or 0.94% at 26,304 levels.
The S&P BSE Sensex plunged 461 points to end at 25,603.
Stock markets opening with losses too put pressure on the domestic unit.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
The US Federal Reserve, on Wednesday, announced a 0.25 per cent cut in benchmark interest rate, which is expected to increase capital flow from foreign institutional investors in the Indian stock market.
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.
India Inc on Monday said that the Interim Budget was 'absolutely' up to the expectations.
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.
The 30-share Sensex ended down 563 points at 25,202.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
The announcement of the Federal Reserve sent markets to a tizzy
All policy planners want low interest rate, says Jaitley
The rate hike in the future is set to be 'calibrated and cautious'.
The 30-share Sensex ended down 151 points at 20,709 and the 50-share Nifty ended down 51 points at 6,167.
Rupee and bonds weakened on Thursday after the US Federal Reserve signalled it may increase its policy rates at the next meeting in December.
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