Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
India has become the most sought destination for investment by Japanese companies, next to China, and ahead of other Asian countries and emerging economies like Russia, Brazil, Mexico and even the United States and the United Kingdom.
'You have to have commitment to both, but it has to be done at the individual level.'
JSW Steel (3.37 per cent), Tata Steel (3.33 per cent), Maruti (3.24 per cent), Power Grid (3.07 per cent), IndusInd Bank (2.95 per cent), Bajaj Finance (2.12 per cent) and Tech Mahindra (2.22 per cent) were among major gainers. On the other hand, Ultratech Cement, Sun Pharma, Nestle and L&T were the losers.
Unprecedented rainfall in Japan unleashed heavy floods on Friday that ripped through parts of the island nation on Thursday, forcing more than 1 lakh people from their homes.
Among the Sensex firms, Tech Mahindra, Tata Motors, Bharti Airtel, Wipro, Bajaj Finserv, HCL Technologies, Bajaj Finance, Larsen & Toubro, Mahindra & Mahindra and UltraTech Cement were the biggest laggards. IndusInd Bank, Power Grid, HDFC Bank, ICICI Bank, NTPC, Reliance Industries, HDFC and Tata Steel were the prominent winners.
Construction is supposed to begin in 2017, with completion slated for 2023.
Among the Sensex firms, Bajaj Finance emerged as the biggest gainer by climbing 2.95 per cent. Tata Motors, Bajaj Finserv, IndusInd Bank, Sun Pharma, Mahindra & Mahindra, State Bank of India, Larsen & Toubro, HDFC, HDFC Bank, Maruti, Reliance Industries and Bharti Airtel were the other major winners. HCL Technologies, Axis Bank, ICICI Bank, Tech Mahindra and Titan were among the laggards.
The PM addressing the Indian diaspora in Japan also hinted that there is no "guarantee" that no further steps would be taken after December 30 till when people can deposit the demonetised notes.
Investors' wealth climbed Rs 3.20 lakh crore as markets staged a smart comeback on Wednesday after falling in the last eight trading sessions. The BSE Sensex rallied 448.96 points or 0.76 per cent to settle at 59,411.08. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.
Among the Sensex firms, Kotak Mahindra Bank, Tata Steel, ITC, ICICI Bank, Bajaj Finserv, Maruti, Mahindra & Mahindra and State Bank of India were the biggest winners. Tata Consultancy Services, Infosys, HCL Technologies, Tech Mahindra, Asian Paints, Wipro and Tata Motors were the biggest laggards.
Global financial markets are not yet fully factoring in any escalation in the Israel-Palestine geopolitical conflict, said Christopher Wood, global head of equity strategy at Jefferies in his latest weekly note to investors, GREED & fear. The pertinent point about ongoing events in West Asia from a financial market perspective, according to him, is that, despite much talk about a pending ground invasion of Gaza, no such invasion has yet happened. "This is beginning to make GREED & fear wonder if it is ever going to happen.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses.
'We suggest an equity strategy of 5% to 10% exposure to cash, 5% to Gold ETF, close to 50% to Sensex/Nifty/large mid-cap stocks.'
Among Sensex stocks, SBI, IndusInd Bank, HDFC Bank, Axis Bank, HDFC, Tech Mahindra, ICICI Bank, Ultratech Cement, L&T, Bajaj Finserv, Reliance, HCL Tech, Asian Paints, Wipro and M&M were the major losers. On the other hand, HUL advanced the most by 1.14 per cent. Maruti, Tata Steel, NTPC and Sun Pharma also posted gains.
Asian Games champions India came from a goal down to clinch an unimpressive 2-1 victory over hard-working Japan on the opening day of the 25th Sultan Azlan Shah Cup hockey tournament in Ipoh on Wednesday. Squandering a series of scoring chances created by defence-splitting crosses that sailed across the goalmouth, India managed to earn full points against the lowly-ranked rivals through goals from young drag flicker Harmanpreet Singh (24th minute) and captain Sardar Singh (32nd) after Kenji Kitazato (17th) gave Japan the lead. Earlier, Pakistan banked on two goals from Muhammad Arslan Qadir to open their campaign with a 3-1 victory over Canada in extremely humid conditions at the Sultan Azlan Shah Stadium. Qadir opened the account with a field goal in the 27th minute and converted a penalty corner a minute later to give Pakistan a two-goal lead. Canada then pulled one back through Richard Hildreth's flash strike, but Muhammad Arshad capitalised on a 52nd-minute penalty corner to seal Pakistan's victory.
Modi and Albanese also reiterated their shared ambition for an early conclusion of the ambitious Comprehensive Economic Cooperation Agreement (CECA) that is expected to significantly expand bilateral trade ties.
Central banks should be free to decide on monetary and credit policy.
Readying itself for a bank licence, Anil Ambani-led group's Reliance Capital on Wednesday said Japan's Sumitomo Mitsui Bank and Nippon Life would become its strategic partners in the proposed banking venture, with each having 4-5 per cent stake.
Prime Minister Narendra Modi enjoys a close relationship with Shinzo Abe. For Abe, "a strong India is in the best interest of Japan, and a strong Japan is in the best interest of India."
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
The NSE Nifty, comprising 50 shares, breached the 8,300-mark for the first time to hit a new lifetime high of 8,330.75.
Fitch Ratings on Thursday retained India's growth forecast for the current fiscal at 6.3 per cent citing economic resilience despite tighter monetary policy and exports weakness, but upped year-end inflation projection on El Nino threat. The Indian economy grew 7.8 per cent in the April-June quarter of current fiscal on strong services sector activity and robust demand. "The Indian economy continues to show resilience despite tighter monetary policy and weakness in exports, with growth outpacing other countries in the region," Fitch said, while projecting 6.3 per cent growth for current fiscal (April-March), and 6.5 per cent for next fiscal.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Japan's economy unexpectedly slipped into recession in the third quarter, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales tax hike and call a snap election half-way through his term.
'India is an equity market with a breadth and depth of companies to invest in.'
While India won't be immune to global spillovers, we need to create the macro preconditions for sustained growth. Policy agility, prudence, and resilience will be key, suggests Sonal Varma.
By piling more pressure on governments, central banks risk not accomplishing much and yet provoking a political backlash that could threaten their independence.
Mutual funds (MFs) turned net sellers of equities in April amid a run up in stock prices on sustained inflows from foreign portfolio investors (FPI). The benchmark indices, Sensex and Nifty50, logged their biggest monthly advance since November last year, gaining 3.6 per cent and 4.1 per cent last month. Data from the Securities and Exchange Board of India (Sebi) shows that MFs sold equities worth over Rs 5,100 crore in April, the highest since February 2021.
From the Sensex pack, Reliance Industries fell the most by 2 per cent. Tata Steel, Bajaj Finserv, ITC, NTPC, Bharti Airtel, Tech Mahindra, Titan, Axis Bank and Bajaj Finance were among the other major laggards.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
While they could pass on the burden of increased input costs to customers, a shortage of components, compounded by the March 11 tsunami and quake in Japan and the Reserve Bank's latest rate hike -- which could affect car financing -- have made them jittery over their prospects in the short-to-medium term.
Indian equity markets had a good run in the first half of calendar year 2023 (CY23), with the S&P BSE Sensex and the National Stock Exchange Nifty50 hitting fresh 52-week highs. While the Sensex scaled up to a peak 64,718, the Nifty50 hit Mt 19,189. As the markets now prepare to enter the second half (H2) of CY23, all eyes are on global central banks, especially the US Federal Reserve, as to when they will pause and pivot as regards their interest-rate cycle.
From the Sensex pack, Bajaj Finance, Bajaj Finserv, Reliance Industries, Wipro, HDFC Bank, HDFC, ICICI Bank and Tata Steel were the major laggards. ITC was the lone winner in the Sensex pack.
From the Sensex pack, Maruti, Axis Bank, Tata Consultancy Services, Nestle, Infosys, Mahindra & Mahindra, Tech Mahindra and Bharti Airtel were the major laggards. Power Grid, Sun Pharma, HCL Technologies, Larsen & Toubro and UltraTech Cement were the gainers.
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