While Nifty 50 reflects changes in 40 years, it also shows what is missing: Low-cost manufacturers at one end, and deep-value players at the other. Also missing are technology players, observes T N Ninan.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
Gains were led by index heavyweights Reliance Industries and Infosys.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
Experts believe while escalation with Pakistan might not have a significant impact on trade economics, both India and China have major trade and investments in each others' economies. While the dispute might continue, it could have a temporary effect on the markets.
India will beat China, North America and Europe to become the fastest growing automobile market.
Top gainers in the Sensex pack included Tech Mahindra, Maruti, NTPC, Axis Bank, Tata Steel, Bajaj Auto, Tata Motors, Bajaj Finance, M&M and Kotak Bank, rising up to 3.77 per cent.
Mahindra and Mahindra was the top gainer in the Sensex pack, advancing over 7 per cent, followed by Bajaj Finance, Reliance Industries, Maruti, TCS, HDFC Bank and Tata Steel. On the other hand, Bajaj Auto, HDFC, Bharti Airtel and HUL were among the laggards.
The ever-astute Ravi Matthai, Director of Indian Institute of Management, Ahmedabad in 1971, offered me a basic salary of Rs 1,000 per month on my return from the United States. I doubt if IIMA could hire a faculty member at Rs 55,000 per month today! points out Dr Shreekant Sambrani.
Ola Electric will roll out its complete offering of electric scooters and motorcycles in each segment of the market - premium, mass premium, and economical - in the next 12 months in a bid to push for a near-full conversion of the two-wheeler market to electric in three years. According to Bhavish Aggarwal, founder and CEO of Ola Electric, "ICE (internal combustion engine) products will fall off a cliff." He also says the company is aiming to become profitable next year.
Reliance Industries was the top gainer in the Sensex pack, rising around 1.5 per cent, followed by Bajaj Finance, ONGC, Infosys, PowerGrid, L&T and IndusInd Bank. NSE Nifty advanced 12.50 points to its fresh record of 15,811.85.
NTPC, Maruti, SBI, PowerGrid, Bajaj Auto, UltraTech Cement and Axis Bank rose up to 2.95 per cent.
In the two years since the PLA's intrusions into Eastern Ladakh, the Border Roads Organisation is sparing no effort to build and upgrade road highways from Tezpur to the McMahon Line.
On the Sensex chart, Bajaj Finance, HUL, RIL, ONGC and HDFC emerged as the top gainers.
China has cast a long shadow on India's economy.
Sensex, Nifty end the day in red on unfavourable cues from global markets.
'Markets are factoring in a good show by India Inc in Q2.'
The Sensex soared 402 points higher to end at 25,720 and the Nifty surged 130 points to close at 7,819.
China's obsession with exports and electronics assembly can also be attributed to having learned from the Singaporean textbook.
Top gainers in the Sensex pack included Tata Motors, Bajaj Auto, HDFC twins, IndusInd Bank and RIL, rallying up to 3.23 per cent.
Yes Bank gained the most, spurting 5.94 per cent. Bajaj Finance, Hero MotoCorp, TCS, HUL, Bajaj Auto, HCL Tech, Infosys, SBI, M&M, ICICI Bank and Tata Motors rose up to 1.65 per cent.
Input shortages and low inventories, according to Nomura, will likely lead to production cuts and delayed shipments in the September 2021 quarter.
Investors with high risk appetite must stay invested while risk-averse investors can consider profit booking.
On the Sensex chart, UltraTech Cement, HCL Tech, HDFC, Tech Mahindra, HDFC Bank and HUL emerged as the major laggards -- falling as much as 4.7 per cent. NSE Nifty dropped 63.05 points to end at 14,296.40.
Fear factors weights on markets, Sensex, Nifty struggle to keep pace.
HDFC twins were the top losers in the Sensex pack, shedding over 4 per cent, followed by ICICI Bank, Kotak Bank, Asian Paints, M&M, HUL, TCS and Maruti. NSE Nifty tanked 263.80 points to 14,631.10.
Kotak Bank was top loser among Sensex stocks, dropping by 3.28 per cent. HDFC Bank declined by 1.86 per cent, HDFC by 1.28 per cent and ICICI Bank by 0.99 per cent. SBI fell 0.5 per cent while Bajaj Finance by 0.72 per cent. Larsen & Toubro dropped 0.16 per cent.
Investors turned cautious weighing weak GDP numbers and continued drop in automobile sales, bringing banking and auto sector stocks under pressure.
Earlier in May, Ford India announced that it had dropped its plans to make electric vehicles (EVs) in India, which it intended to export, under the production-linked incentive scheme (PLI). Ford was among 20 companies that had signed a Champion OEM Incentive Scheme under the PLI project with the government in February this year. The decision comes as a blow for the 4,000-odd employees at Ford India's Maraimalai Nagar plant near Chennai and in Sanand, Gujarat. In September last year, the company had announced that it would exit the India market, which it had entered in 1995 through an on-again, off-again joint venture with Mahindra & Mahindra (they split in 1998, signed a JV in 2019 and split again in December 2020), retailing petrol and diesel brands such as the EcoSport, Figo, Aspire, and Endeavour.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The adverse impact on the margins of auto, consumer staples and consumer durables sectors will be counterbalanced by an earnings uptick in the metals, cement and oil & gas sectors.
The broader markets were firm with mid-caps and small-caps gaining 1-1.4 per cent on the BSE.
Top laggards in the Sensex pack included HDFC, ICICI Bank, TCS, HCL Tech, Kotak Bank, Asian Paints, TechM and HUL, dropping up to 2.67 per cent.
'Periods of high volatility are usually bad for mid-caps and this is something that has to be kept in mind.' 'Focus on quality is of paramount importance.'
Tata Motors was the top gainer in the Sensex pack rallying 5.32 per cent. Among other prominent gainers were Bharti Airtel, IndusInd Bank, Sun Pharma, Axis Bank, Maruti Suzuki, Bajaj Auto and TCS.
Known for its phones and emerging from nowhere in the segment, it might take on the scooter Goliaths.
Honk Kong Stock Exchange-listed Great Wall Motor explores sites at Sanand & Halol.
The escalating trade war between China and the US could be an opportunity for India.
Other losers included Maruti, Kotak Bank, Hero MotoCorp, Bajaj Auto, IndusInd Bank and Bajaj Finance, that shed up to 1.79 per cent.
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