RBI policy, macro data, company earnings to decide market course this week: Experts
With the Budget overhang gone, investors are breathing a sigh of relief and are back to make fresh calls.
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id). "The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries.
The 30-share BSE Sensex surged by 477.24 points or 0.83 per cent to close at more than one-week high of 57,897.48. As many as 28 of its constituents closed with gains while two declined. The broad-based Nifty of the National Stock Exchange rose by 147.20 points or 0.86 per cent to settle 17,233.45, tracking gains in Sun Pharma, Asian Paints, and Reliance Industries.
A sharp decline in crude and strengthening of the rupee added to the buoyancy.
The action was undertaken after some fresh inputs were obtained during the questioning of few accused involved in the case. The sources said some of the people who are being searched are linked to Singh.
Stock markets are expected to remain under pressure this week due to the overhang of US presidential polls and uncertainty over global growth due to resurging cases of coronavirus, according to analysts.
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Sentiment in the market will also be guided by other major market movers like trend in the rupee, Brent crude and foreign capital flows.
Indian equity markets are likely to witness volatility this week due to concerns over rising cases of coronavirus and expiry of derivatives contracts, analysts said. Further, progress surrounding the COVID-19 vaccine, related updates, US stimulus talks and global cues would dictate the market trend, traders said. "Going ahead, the market is likely to be volatile as sentiments oscillate between fear of rising COVID cases globally and optimism over vaccine progress. Investors would closely watch out development over the US stimulus talks," said Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.
Shares of Adani group companies witnessed a massive drubbing in morning trade on Monday, tumbling up to 25 per cent, amid reports that the National Securities Depository Ltd (NSDL) has frozen certain FPIs accounts that have holding in some of these firms.
Reliance was the top gainer in the Sensex pack, surging over 3 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy, Maruti and ITC.
The police on Sunday said that they received the autopsy report late on Saturday and it also confirmed that the girl had been raped.
The threat of epidemic is looming large in worst-hit Ganjam district as the debris is yet to be cleared even six days after Cyclone Phailin left behind its trail of destruction.
Concerns over economic slowdown, muted earnings, crisis in the auto industry and global trade issues have been weighing on investor sentiment, experts said.
'How do we explain that on the economic, internal security and strategic fronts, India's unstable coalitions have acted more decisively and boldly than all our full-majority governments yet?' asks Shekhar Gupta.
From the 30-share Sensex pack, 23 scrips declined in Wednesday's session, led by IndusInd Bank, Bajaj Finance, Tata Motors and Tata Steel which fell by up to 3.87 per cent.
The market capitalisation of BSE-listed companies on Thursday crossed the historic Rs 200 lakh crore mark for the first time, driven by a continuous rally in the broader market. Riding high on the bullish investor sentiment, the market capitalisation of BSE-listed companies reached a record Rs 2,00,47,191.31 crore at close of trade. The 30-share BSE index closed the day with a gain of 358.54 points or 0.71 per cent at its lifetime peak of 50,614.29. This is the fourth consecutive day of gains for the markets.
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Equity indices gave up early gains to close in the red for the third session on the trot on Wednesday, weighed by selling in banking and finance counters amid inflationary pressures and persistent foreign fund outflows. A weak rupee and lacklustre global cues also kept buying sentiment in check, traders said. The 30-share BSE Sensex opened on a firm footing but failed to hold on the momentum, finishing 237.44 points or 0.41 per cent lower at 58,338.93. On similar lines, the broader NSE Nifty dipped 54.65 points or 0.31 per cent to close at 17,475.65.
Prime Minister Narendra Modi chaired a meeting of the Cabinet Committee on Security on Thursday after Russia launched an attack on Ukraine.
Since the Budget announcement on July 5, FIIs have been busy unloading their stock.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
Former Chhattisgarh Chief Minister and senior Congress leader Ajit Jogi on Monday made a formal announcement to float a new political outfit.
At market close, the oil-to-telecom conglomerate's market capitalisation (m-cap) zoomed to Rs 10,01,555.42 crore on BSE.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Prime Minister Modi, Defence Minister Rajnath Singh, Home Minister Amit Shah, Finance Minister Nirmala Sitharaman and External Affairs Minister Dr Subrahmanyam Jaishankar attended CCS meeting.
Sebi's move to curb volatility didn't work for the market as rules were applicable for both long and short positions which makes difficult new long positions while short positions caused more price damage due to lack of liquidity.
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.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
While small-caps have delivered higher returns than their large-cap peers, investors would do well to recognise the incremental risk of investing in these companies.
'He is still compulsively an operations man. Just a whiff of a live operation, and he is back in the field, at least in his mind. That is why the immediate decision to send the NSG to Pathankot.' 'But there is a difference between classical intelligence or counter-terror operation and dealing with a larger threat to a place as sensitive and sprawling as an air force base. This is what led to confusion and mix-ups,' says Shekhar Gupta.
The stock, which is a play on the growth story of Indian Railways, has corrected 15 per cent from its 52-week high level of Rs 2,072.95 scaled on March 9. Yet, this has not deterred brokerages from holding a bullish view on the stock.
Four BJP leaders and former Supreme Court judge S Abdul Nazeer, who was part of the Constitution bench that upheld the archaeological report on Ayodhya, were among six new faces appointed as Governors on Sunday.
According to experts, the Nifty has continued to form lower top-lower bottom formations, a trend seen in the last five weeks, and witnessed sharp selling towards 9,700 zones.
'They are both very individualistic and have similar personalities.'
This is not the first time the Nagpur Jail authorities are being accused of negligence towards their inmates.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
'The Modi government's pusillanimity vis-a-vis Pakistan makes almost certain that India will, in the coming weeks and months, be confronted with cross border terrorist actions of increasing intensity,' warns Satish Chandra, former deputy national security adviser.
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