A new generation of investors has taken to stock trading on mobile phones with a renewed zeal, driven mainly by social changes after the Covid-19 pandemic breakout. The proportion of the cash market turnover ascribed to mobile phones has jumped from 5.3 per cent in June 2019 to 18.7 per cent in June this year, reveals BSE data. The share of mobile trading on the National Stock Exchange (NSE) for June this year stood at 19.5 per cent.
Quarterly earnings and global cues will be the major sentiment driver for the equity market this week, according to analysts. Of late, Benchmark indices have been on a record-breaking run. "Quarterly results will dictate market sentiment and will be the talk of this week as they pick up the pace. "D-Street will be all ears to any management insights to forecast the future earnings trajectory.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
The sale proceeds will be fully utilised to repay debt at Bharti Telecom and will make the promoter holding firm a 'debt free company'.
Equity benchmarks extended their decline for the fourth straight session on Wednesday, with the Sensex falling 214.85 points after the Reserve Bank raised the key interest rate by 50 basis points. Continuous foreign fund outflows and surging crude oil prices also weighed on markets. The 30-share BSE benchmark dropped 214.85 points or 0.39 per cent to settle at 54,892.49.
The rally in the broader markets, a spate of new listings, and the influx of retail investors have resulted in a boom for research and this has spurred a surge in the number of entities providing such services. From 467 entities that provided research services as of March 2018, the number jumped 57 per cent to 733 as of March 2021. And, another 46 entities have been added to the list in the six months since, to take the total number of registered research analysts to 779 as on September 13. However, the total number of analysts could be a multiple of this number.
The RBI has removed Yes Bank from its caution list of monitoring foreign investment following the dip in shareholding by foreign investors below the prescribed limit.
In the rights issue, the company is offering one share for every 15 shares held at Rs 1,257. The rights shares are expected to be listed on the BSE and NSE on or around June 12.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
The government will issue Sovereign Gold Bonds (SGBs) in six tranches beginning April 20, the Reserve Bank of India said on Monday. The bonds will be denominated in multiples of gram(s) of gold with a basic unit of 1 gram and the tenure of the SGB will be eight years with exit option after fifth year to be exercised on the interest payment dates.
The fact that the responses from the community to Mohan Bhagwat's remarks have ranged from guarded optimism to outright disbelief tells its own story, points out Kanika Dutta.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
Telecom operator Bharti Airtel on Friday said it has signed an agreement to buy Vodafone's 4.7 per cent stake in Indus Towers on the condition that the proceeds will be used for investment in Vodafone Idea and clearing its dues towards the mobile tower company. Debt-ridden Vodafone Idea (VIL) has been unable to pay dues to Indus Towers and both VIL and promoter Vodafone have proposed a payment plan to clear the outstanding amount by July 15. In the meantime, VIL has committed to pay certain minimum amount each month to Indus Towers.
According to the new proposals, resident promoters or a foreign promoter from a FATF jurisdiction can set up a market infrastructure institution.
In the first eight months of 2019, 70 per cent stocks in the BSE 500 universe were down. These stocks account for 94 per cent of India's total market capitalisation.
There is money to buy the central public sector enterprises, but buyers will need a firm assurance that the disvestment programme will keep environment issues front and centre of their corporate plans.
Amazon provided mere "lip service" and failed to provide any help to the debt-laden Future Group as the retail major suffered massive setback amid the COVID-induced lockdown and faced possible insolvency or debt restructuring, Future Group's promoters said in a letter to the e-commerce giant. This is the first time Future Group promoters have written to Amazon after the parties were embroiled in a legal battle over the sale of Future's retail assets to Reliance Industries. The letter from the promoters, including Kishore Biyani, was written on December 31. It alleged that Amazon's actions "lacked good faith" during the March to August period, when the group's retail business was severely hit by the lockdown.
FIIs accumulated India's top-listed companies at an average valuation of around 16 times.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
The Securities and Exchange Board of India (Sebi) has introduced an optional T+1 settlement cycle for the markets. T+1 means that settlements will have to be cleared within one day of the actual transactions taking place. The regulator has put the onus on the stock exchanges to decide whether they want to opt for the shorter settlement cycle for any of the listed scrips. This can be done after giving a one-month prior notice to all stakeholders.
The BSE Sensex zoomed 318 points to end at 33,351.57, while the broader Nifty spurted 88 points to 10,242.65.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
Foreign institutional investors were net buyers in Indian equities worth Rs 277.92 crore on Tuesday
In the Sensex kitty, ITC turned star performer by surging 2.45 per cent, followed by NTPC rising 2.19 per cent.
Metal stocks were trading under pressure while IT, auto, realty stocks gained in today's deals
Ricoh India, the largest gainer among these pack, has rallied 192 per cent from Rs 294 to Rs 859 on the BSE so far in the current calendar year.
The BSE 30-share index after a positive opening stretched to 31,772.41, but could not stay there for long buffeted by the selling pressure. It hit a low of 31,562.25 before settling lower by 79.68 points, or 0.25 per cent, at 31,592.03.
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.
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
Brokerages put sell notice on Vedanta shares over the company's move to buy Volcan Investments' stake in Anglo American via subsidiary Cairn India Holdings, reports Aditi Divekar.
HDFC Bank's shares fell by 3.46 per cent to close the day at Rs 659 on the BSE. In intra-day session, the scrip lost 4 per cent to Rs 655.10.
Jet Airways India, which recently acquired Sahara Airlines, may come out with a public offering in the domestic and/or international markets.
Thinning valuation gap between these and mid-caps indicates a shift in investors' preferences.
On Wednesday, FIIs sold shares worth Rs 1,573 crore.
Shares of IT companies were in focus with the Nifty IT and S&P BSE IT index gaining more than 2% in an otherwise lower market
The 30-share Sensex provisionally ended up 112 points at 28,555 and the 50-share Nifty closed 24 points higher at 8,561 after hitting a record high of 8,626.95.
Auto and index heavyweights Reliance Industries and ITC were the top losers in early trades.
The BSE Sensex was down 326 points at 23,277 and the Nifty was down 107 points at 7,056.
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