The Indian Wells tennis tournament was set to start on Tuesday, attracts the game's top players from both the men's and women's sides and drew a record 475,000 fans over its two-week run last year. It was cancelled over concerns about the spread of a coronavirus in Southern California.
Six-time champion Novak Djokovic's hopes of turning around his season at the Miami Open ended in the second round when he was defeated 6-3, 6-4 by Frenchman Benoit Paire.
The Sensex gained 7,430.37 points, or 27.91 per cent, this year.
Sentiments turned somewhat weak towards the middle of the session as profit-booking emerged as investors turned cautious on disappointing quarterly earnings by some bluechip companies
Top Indian private sector lender ICICI Bank, which owns nearly 68 percent of the insurer, is selling up to 181.34 million shares in the IPO.
Investors must, however, be prepared for volatility in ELSS, cautions Sanjay Kumar Singh.
The Finance Ministry further said decision on seven FDI proposals has been deferred.
The government has cleared 19 foreign investment proposals, including that of Walt Disney Company and Reckitt Benckiser (India), entailing total investment of Rs 2,326.72 crore (Rs 23.26 billion).
Reliance Industries Ltd, the nation's most valuable company, on Thursday said it has raised $4 billion (around Rs 30,000 crore) in debt through the largest ever foreign currency bond issuance by an Indian entity. The oil-to-telecom conglomerate plans to use the proceeds of the three tranche issues to retire existing borrowings. The issue was "nearly 3 times oversubscribed with a peak order book aggregating around $11.5 billion," the company said in a statement. This is the largest ever foreign currency bond transaction in India, eclipsing ONGC Videsh Ltd's $2.2 billion US dollar bonds issue of 2014.
Overseas investors buoyed by recent rate cut by RBI and hopes of a good monsoon
Unseeded American Lauren Davis secured the first big upset of the BNP Paribas Open when she ousted third seed Victoria Azarenka of Belarus in the second round in Indian Wells on Friday.
Investors who cannot manage an asset-allocated portfolio or rebalance regularly, or do not have an advisor, may opt for these funds, but only after a detailed study of their strategy, suggests Sanjay Kumar Singh.
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
It is advisable to avoid a fund until it develops a track record.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
Venus Williams staged a spirited comeback to down third seed Petra Kvitova 4-6, 7-5, 6-4 and reach the third round of the BNP Paribas Open in Indian Wells on Saturday.
Twice Grand Slam winner Svetlana Kuznetsova and 14th seed Elena Vesnina posted hard-fought, straight-set wins in Friday's semi-finals to set up an all-Russian final in the BNP Paribas Open at Indian Wells.
Elena Vesnina denied Venus Williams another comeback win, while Kristina Mladenovic roared back from a set and a break down to beat Caroline Wozniacki on Thursday to reach the semi-finals of the BNP Paribas Open at Indian Wells.
Japan's Naomi Osaka claimed her first career title with a commanding 6-3, 6-2 victory over Russian Daria Kasatkina in a battle of 20-year-olds at the BNP Paribas Open on Sunday.
India's stock exchanges have decided to jointly introduce the T+1 settlement cycle in phases from February 25, beginning with the bottom 100 stocks by market capitalisation. From March 2022, on the last Friday (or the immediate next trading day) of every month, the next 500 stocks from the bottom will be subject to T+1 settlement. The phase-wise implementation is expected to give all market participants, including foreign portfolio investors (FPIs), ample time to shift to the shorter cycle. The settlement cycle represents the time period within which the stock exchanges have to settle security transactions.
Progress of monsoon, investment trend by foreign investors and the movement of rupee against the dollar will also influence sentiment
'The market was expecting the Budget to do more, given the domestic economic slowdown and global uncertainty. Over the next few days, the market is expected to absorb the volatility.'
Broader market underperformed the headline indices
If one compares returns, the two public-sector ETFs have done better over the past year, but the ELSS category has done better over the trailing three and five years.
Bank stocks rose sharply by up to 12 per cent after the government's move to withdraw 500 and 1,000 rupee notes from circulation as part of black money crack down
World No 3 Simona Halep turned up the aggression and rallied for a 5-7, 6-1, 6-1 victory over Carla Suarez.
Apart from the main company, five of Air India's subsidiaries and a joint venture firm have been included in the strategic sale plan.
The BSE Mid-Cap index was currently up 0.81%.
World number one Novak Djokovic on Wednesday dismissed any suggestion of friction with Roger Federer and Rafa Nadal as tennis politics spilled over to the Miami Open.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
Adani Ports, BHEL, Tata Motors, ONGC, Mahindra & Mahindra and Tata Steel were the top losers.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
The biggest losers in the Sensex pack were M&M, ONGC, Vedanta, Tata Steel, L&T, HDFC, NTPC and Axis Bank, falling up to 3.04 per cent.
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
Rediff.com gives you a quick flashback, in pictures of the month gone by...
'The first half of 2019 could be volatile.' 'In the second half, volatility inducing events should be largely behind us.'
Russia's Elena Vesnina ousted German second seed Angelique Kerber 6-3, 6-3 to reach the quarter-finals of the BNP Paribas Open at Indian Wells, California on Tuesday.
Roger Federer and Rafael Nadal powered to third-round wins at the BNP Paribas Open at Indian Wells on Tuesday to set up a mouth-watering rematch of their recent Australian Open final.
They have been on an unbroken selling streak since the Union Budget, spooked by increase in income-tax surcharge, taxes on buybacks, and lack of stimulus to prop up the economy.
Axis Bank was the top laggard in the Sensex pack, plunging more than 5 per cent, followed by HDFC, Bajaj Finance, ICICI Bank, Tata Steel, Bajaj Auto, HDFC Bank and IndusInd Bank. On the other hand, M&M, Infosys, Asian Paints, UltraTech Cement and Tech Mahindra were among the gainers.
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