Equity indices chalked up losses for the second straight session on Monday, in tandem with a bearish trend overseas as ratcheting up of hostilities in Ukraine and prospects of further rate hikes by the US Fed soured global risk sentiment. The rupee slipping to another all-time low against the US dollar amid foreign fund outflows added to the gloom, traders said. After tumbling over 800 points in intra-day trade, the 30-share BSE Sensex clawed back some lost ground to end 200.18 points or 0.34 per cent lower at 57,991.11.
Benchmark share indices erased all the day's gains to end marginally lower on Monday as the measures announced by the government failed to meet market expectations.
The BSE Sensex slumped 456 points on Wednesday, tracking losses in index majors Reliance Industries, Infosys and ICICI Bank as market participants continued to book profits at high levels.
HDFC was the top loser in the Sensex pack, shedding over 1 per cent, followed by Nestle India, ICICI Bank, Kotak Bank and HDFC Bank. The NSE Nifty declined 15.35 points to 17,546.65.
The S&P BSE Sensex gained 57 points to end at 26,064 and the Nifty50 climbed 17 points.
'People try to repay the BIGGEST LOAN first. Actually, you should repay the most expensive loan first.'
Markets ended marginally lower after trading in a narrow range, amid mixed global cues, with banks, software and capital goods shares leading the decline.
IndusInd Bank was the top laggard in the Sensex pack, shedding around 3 per cent, followed by ICICI Bank, Titan, Infosys, HDFC Bank, Nestle India, Sun Pharma and Reliance Industries. The broader NSE Nifty slipped 41.20 points or 0.35 per cent to 11,896.45.
Analysts caution against volatility and recommend buying stocks of companies that are on strong fundamental footing that have been beaten down badly in the recent carnage.
'An eerie similarity with 2019 inflation trajectory could now mean that the RBI and market inflation estimates could go awry.'
The state authorities had on Saturday suspended the internet and SMS services till Sunday noon.
Asian Paints was the top loser in the Sensex pack, shedding 2.66 per cent, followed by Axis Bank, HUL, Wipro, M&M, HDFC and Bharti Airtel. On the other hand, TCS, Infosys, L&T, Tech Mahindra and HDFC Bank were among the gainers.
The Sensex ended up 380 points at 27,888 and the Nifty advanced 111 points to end five points shy of 8,400.
It is as much about farmer woes and the lack of job opportunities as about the mixing of religion and politics.
'He was a cricketer who come once in a lifetime...'
The foreign lender's profit after tax was Rs 2,960 crore
Powered by a rally in index heavyweight Reliance Industries, equity benchmark Sensex broke its four-session losing run to close above the 55,000-mark on Thursday despite a weak trend overseas. Investors made a cautious return to IT, pharma and bank stocks after their recent sell-off. However, a depreciating rupee and persistent foreign fund outflows capped the gains, traders said. Overcoming a lacklustre start, the 30-share BSE Sensex surged 427.79 points or 0.78 per cent to close at 55,320.28.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Input prices rose at their fastest rate in 14 months but manufacturers absorbed much of the increase
The United Forum of Bank Unions would be holding a one-day all-India strike on January 7 followed by a four-day strike from January 21-24.
ICICI Bank was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by UltraTech Cement, Asian Paints, ITC, Kotak Bank, Axis Bank and PowerGrid.
Bucking a strong trend in share market, the Indian rupee on Monday gave up all its initial gains and slipped 18 paise to close at 61.94 against the Greenback on rising dollar demand from importers.
The bull run in the Indian equity markets is intact, said analysts at Morgan Stanley in a recent note. They expect the S&P BSE Sensex to hit 80,000 levels by December 2023 in their bull-case scenario, to which they have assigned a 30 per cent probability. From the current level, this translates into an upside of nearly 29 per cent.
From the 30-share pack, Infosys, Tech Mahindra, TCS, HDFC, HDFC Bank, Wipro and HCL Technologies were among the major laggards in early trade. Nifty tumbled 314.95 points to 17,160.70.
Inflation in food articles, fuel and power contracted in July.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
The bank, which has suffered reverses following a massive spike in dud assets and also the dismissal of its chief executive Chanda Kochhar over governance issues, however, hinted that the worse is behind.
BSE Sensex on Monday closed nearly 34 points higher at 26,350.17 with gains in realty, power, FMCG and oil & gas stocks amid sustained buying by domestic institutional investors.
According to Merrill Lynch (BofA-ML) report, Domestic capital markets are likely to remain volatile in the September-November period due to factors like US Fed's policy action, second quarter corporate earnings and Bihar state elections.
The bank lost out on fairly meaningful quantum of fees from point of sale terminals and ATM usage during the demonetisation exercise.
ONGC was the top loser in the Sensex pack, shedding around 3 per cent, followed by Sun Pharma, PowerGrid, Axis Bank, HDFC Bank, Bharti Airtel and Kotak Bank. NSE Nifty declined 124.10 points to 14,906.05.
SBI was the top loser in the Sensex pack, shedding over 1 per cent, followed by HDFC duo, Kotak Bank, PowerGrid and ICICI Bank.
The country, last year, stood at the 27th spot for effective regulation and supervision of securities exchanges.
R Sai Kishore came up with a splendid all-round show as South Zone trumped North Zone by two wickets in a thrilling finish in the rain-hit semi-final.
Metal stocks also had a good session, with JSW Steel zooming by 7%, and Tata Steel and Nalco gaining about 3% each.
The Pandays aka The Travelling Family are making a trip around the world. Three days spent in the Amazon were unforgettable.
Sukanya Verma looks at all the wonderful, wacky and woeful ways Bollywood has portrayed blindness on screen.
Ahead of the Union Budget for 2023-24, Budget makers have welcomed the global consensus view that India will remain one of the bright spots in calendar year 2023. But there is some alarm over the grim global situation and how that might impact the Centre's projections and assessments for next financial year. The big global headwinds include a deep and sustained recession in the West, including India's biggest trading partners in North America and Europe, continuing volatility in commodity markets, and renewed Covid-19 fears, as lifting of strict curbs by China could potentially lead to a massive spread again.
The Nifty ended at 5799, down 66 points. As the day wore out, the banking sector actually saw buying interest at lower levels. The realty space remained in doldrums though.
On Easter, April 9, 10,000 BJP workers are being assigned to visit the houses of 100,000 Christian families. Plans are afoot to visit the homes of Muslims on Eid.
