Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Indian engineering research and development (ER&D) players, such as Tata Technologies, Tata Elxsi, and Cyient, among others, had a subdued January-March quarter of 2023-24. The outlook for 2024-25 (FY25) also remains unexciting amid weak discretionary spending, prompting analysts to revise their growth expectations for the ongoing financial year (FY25).
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
Micro-cap stocks are in the line of fire as market regulator Securities and Exchange Board of India (Sebi) is tightening its noose around investment in small-cap stocks. Given this, analysts suggest investors exit the segment, at least, for the time being. Independent market analyst, Ambareesh Baliga, for instance, said that regulators have gotten worried on the valuation front, though belated, which could prove to be the last straw on the camel's back.
Market benchmarks Sensex and Nifty soared to new peaks on Tuesday, driven by gains mainly in metal, financial and IT stocks amid firm global cues and sustained foreign fund inflows. Tata Steel was the top gainer in the Sensex pack, surging 4.38 per cent, followed by Bharti Airtel 4.37 per cent, Vedanta 3.50 per cent, Tata Motors 3.03 per cent, HDFC 2.46 per cent and Bajaj Finance 2.39 per cent.After surging to its record intra-day peak of 41,401.65, the 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
Three fund managers share their views and state where they are looking for value.
India VIX has been mirroring the CBOE Volatility Index.
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Bajaj Finance was the top gainer in the Sensex pack, climbing over 5 per cent, followed by Kotak Bank, SBI, PowerGrid, Axis Bank, HDFC Bank and Reliance Industries. On the other hand, HUL, Bharti Airtel, TCS, ONGC and Maruti were among the laggards.
Though a weak dollar will lend some support to revenues and margins in FY21, the demand environment will outweigh any gain.
Be mindful that each instrument is governed by a different set of gifting rules and is also taxed differently.
Through the past 12 months, the Bank Nifty has risen 55%
'Comparing the rates of interest with PSU banks, the three- and five-year time deposit rates of the post office are more favourable.'
Infosys was the top gainer in the Sensex pack, jumping over 4 per cent, followed by Tech Mahindra, Tata Steel, ICICI Bank, ITC, Maruti, SBI and Axis Bank. On the other hand, HCL Tech, M&M, Dr Reddy's, Asian Paints, Bajaj Auto and Bharti Airtel were among the laggards.
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Bajaj Finance was the top laggard in the Sensex pack, slumping over 10 per cent, followed by M&M, Titan, Hero MotoCorp, ICICI Bank and Tech Mahindra. On the other hand, L&T, Bharti Airtel, IndusInd Bank, UltraTech Cements and NTPC were among the gainers.
Sensex rose 5.8% this year, against a 3.2% rise in Nifty; Axis Bank inclusion may blunt Sensex edge
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Else, more capital outflow and pressure on rupee likely.
It is 10 years since Bandhan Financial Services became the first microfinance institution (MFI) to receive the universal bank licence. A year later, in 2015, it started operations. Bandhan's entry into banking was seen as a vote of confidence by the Reserve Bank of India (RBI) for the country's microfinance sector. Subsequently, the RBI awarded small finance bank licences to nine MFIs.
More than half the Sensex companies have declared their results for the third quarter and there are more positive surprises than disappointments.
Anand Rathi recently carried out a research on the behaviour of the economy and CAD.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
Sensex is now as expensive as in early 2008
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
India Inc gets about Rs 67,000 crore worth of fresh orders in the Sept quarter, a rise of 45% sequentially.
Wipro, India's third largest information technology (IT) services company, is expected to continue with its strong show during the October-December quarter of financial year 2014.
Despite price correction, policies that support the yellow metal will remain in place in the foreseeable future.
Stock market barometers Sensex and Nifty ended marginally higher on Monday as rise in wholesale inflation capped early gains despite a positive trend in global markets. The 30-share index settled 32.02 points or 0.05 per cent higher at 60,718.71 with half of its constituents ending in green. The broad based Nifty edged up 6.70 points or 0.04 per cent to close at 18,109.45.
It was a year of big gains for equity investors.
Since the Union Budget, gold has become costlier by 8-9 per cent because of a 2.5 per cent increase in import duty to 12.5 per cent and about a 5 per cent depreciation in the rupee.
HUL, UltraTech, Asian Paints, L&T, HDFC Bank top global valuation charts
Their share in overall market capitalisation of BSE stocks has risen to a four-year high
Financial services firm AnandRathi analysed the key points of the policy soon after it was announced.
'Gold prices thrive on volatility and more so when the stock markets trend downward.'
The recovery was led by pharma majors led by Dr Reddy's Labs.
Paid Rs 15,474 cr against CIL's Rs 13,075 cr in FY15
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
In a live chat on rediff.com on Wednesday, July 16, 4 pm, Feroze Azeez, will offer some valuable suggestions on investments.
Markets snapped two-day losing streak and ended flat with a positive bias on Tuesday as gains in auto shares helped offset losses in IT majors.
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