'If one believes that the Indian stock market will go up 70 per cent every year for the next 10 years, I wish you good luck!'
'While growth will bounce back from the current sub-5 per cent, it will stay lower than the already inadequate long-term average of 6.6 per cent,' notes T N Ninan.
The Nifty too slipped below the psychologically important 11,000 mark.
India's services sector activities contracted further in June as the intensification of the COVID-19 crisis and reintroduction of containment measures restricted demand, a monthly survey said on Monday. The seasonally adjusted India Services Business Activity Index fell from 46.4 in May to 41.2 in June, as new work intakes and output contracted at the fastest rates since July 2020, which prompted companies to reduce employment again. Subdued demand conditions resulted in a second successive monthly drop in new business received by services firms.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
The biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, ICICI Bank, HDFC, Tata Motors, HCL Tech, IndusInd Bank and Axis Bank, rising up to 2.98 per cent.
If the BJP is set to return to power in UP, Uttarakhand, Manipur and even Goa, it is not because of the party's performance or the quality of governance. No. It is essentially Modi's popularity, observes Virendra Kapoor.
The S&P BSE 500 index, which accounts for 94% market capitalisation of BSE listed companies, has gained 45% from its March 24 low. However, out of the BSE 500 index stocks, 225 have underperformed the index by gaining less than the broader index during this period.
One must be extremely cautious while shopping with a credit card.
"The Monetary Policy Committee recognises that there is monetary policy space for future action. However, given the evolving growth-inflation dynamics, the MPC felt it appropriate to take a pause at this juncture," the RBI said in its fifth bi-monthly monetary policy for this fiscal.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
Mixed global cues and decline in crude oil prices further dent the sentiments.
The market breadth, indicating the overall health of the market, turned negative from positive
With this amount, the total seizure in the case has now gone upto Rs 166 crore in a single case.
Sensex ends lower; govt schemes in focus.
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
Sectorally, metal, auto and IT stocks were leading gainers amid sustained foreign fund inflow.
A reception often reserved for rockstars came the way of mining mogul Anil Agarwal when he started revealing nuggets of his ascent from a scrap-metal dealer to one of India's most prominent self-made industrialists on social media. And now he has been flooded with booking writing proposals and has even been offered money for a biopic. In February this year, Agarwal, 68, started tweeting his journey from Bihar to Mumbai first and then to London to head a globally diversified natural resources company with interests in zinc-lead-silver, iron ore, steel, copper, aluminium, power, oil and gas.
According to a communication by the ministry to the heads of PSBs, it will be a bottom-up consultative process from the branch level onwards which will involve discussions at the branch or regional level, state level and national level.
The accumulated interest will increase the principal and you will have to pay a higher rate. Borrowers should take the restructuring plan only after they are convinced they have exhausted all other options.
Come October, life insurers may have to tighten their underwriting standards further for retail term plans at the behest of one of the largest reinsurers in the Indian insurance market, Munich Re. According to a source aware of the development, "Munich Re has been studying long-term mortality trends for the past few years, and has suggested some tightening in the underwriting process." "As far as financial underwriting is concerned, the reinsurer has suggested that insurers should ask for additional documents. "For example, apart from income proof, they can ask for bank statements of the prospective customer before issuing policies," added the source.
India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said observing that the letter "V" in the V-shaped recovery stands for vaccine. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for vaccine," said an article on the 'state of economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles.
Traditionally, most PSUs have been cash-rich, which added to their value. However, the government has been tapping regularly into their cash resources to boost revenue for the exchequer
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
The S&P BSE Sensex dipped 90 points to end at 27,747, after hitting an intra-day high of 28,014.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
Top losers in the session included Maruti, Tata Motors, RIL, Yes Bank, Adani Ports, Bharti Airtel, Asian Paints, ONGC, HUL, Kotak Bank, IndusInd Bank and Axis Bank, falling up to 5 per cent.
'The worst is over, but it may take a couple more years for the banking system to re-establish the growth process.' 'Banks are the major pillars in an economy's revival.' 'Without banking operations and lending, revival will not happen.'
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Alnoor Peermohamed & Raghu Krishnan find out why the new CEO is said to be the perfect man for turning around Flipkart's fortunes.
The proposal to increase public float, hike income tax surcharge, move to tax share buybacks and lack of stimulus to shore up economic growth has hurt investor sentiment.
PSB chiefs tried to argue that liquidity is in surplus in the system and the problem was related to lack of demand in the economy, instead of banks' reluctance to lend, but 'the FM said it is a perception issue that loan is not available, which we need to dispel,', reports Somesh Jha.
Nifty could fall to 9,500 levels; not a good time to bottom fish, say experts
M&M was the top laggard in the Sensex pack, cracking over 7 per cent, after the home-grown auto major on Saturday reported 73 per cent decline in consolidated quarterly net profit.
'There is no point in just saying, 'hum wapas bhej denge (we will send Kashmiri Pandits back)'.'
Barring oil and gas, all BSE sectoral indices finished in the green.
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC -- falling up to 4.45 per cent.
In the Sensex pack, Axis Bank, Tata Motors, Infosys, Kotak Bank, HDFC Bank, RIL, Bajaj Auto, SBI, HUL, Tata Steel, Vedanta, HFDC, TCS, ITC and Sun Pharma jumped up to 4.64 per cent.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
