India needs another shot of difficult reform, of the kind only possible at gunpoint. Mr Trump holds that gun to our heads now. A drastic reduction in tariff protection, other elements of sarkari wet-nursing will force entrepreneurial India to become competitive again, argues Shekhar Gupta.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
Indices reversed all its losses during late trades.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
The rupee breached the 80-mark against the dollar on Tuesday. The steady depreciation in the value of the rupee against the US dollar is likely to prove expensive for corporate India. The listed companies' revenue expenses in foreign currency or imports exceed their export revenues or revenue earnings in forex. In their latest financial year, BSE500 companies, excluding banks and non-banking finance companies and insurance (BFSI), reported combined forex expenses of Rs 12.31 trillion against forex earnings of around Rs 10 trillion.
Infosys was the top gainer in the Sensex pack, jumping over 4 per cent, followed by Tech Mahindra, Tata Steel, ICICI Bank, ITC, Maruti, SBI and Axis Bank. On the other hand, HCL Tech, M&M, Dr Reddy's, Asian Paints, Bajaj Auto and Bharti Airtel were among the laggards.
Auto stocks will be in focus
Sensex ended up 11 points at 25,561 and the 50-share Nifty gained 16 points to end at 7,640.
The Reserve Bank said overseas direct investments by Indian companies, including Bharti Airtel, totalled $2.37 billion in February, up about 30.25 per cent year-on-year.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
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.
Investors brace up ahead of the key macrodata- IIP and CPI numbers due to be unveiled tomorrow.
Automobile company Tata Motors, metals and mining major Vedanta, oil marketing firm Bharat Petroleum Corporation (BPCL), private sector IndusInd Bank, and two-wheeler major Bajaj Auto have witnessed their market cap slip below the Rs 1-trillion mark this year.
Investors will remain cautious ahead of F&O expiry.
The broader NSE Nifty ended at 10,888, a gain of 0.77 per cent or 83 points, after shuttling between 10,900.35 and 10,844.85.
When is the last time our government recognised a twenty something entrepreneur for introducing a break-out innovation?
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
The 30-share Sensex ended lower by 46 points at 27,842 and the 50-share Nifty slipped 17 points to trade at 8,378.
Private lenders HDFC Bank and ICICI Bank were the top gainers along with index heavyweights
The 30-share Sensex surged 299 points to close at 28,736 and the 50-share Nifty gained 90 points to end at 8,723.
Sun Pharma was the biggest gainer in the Sensex pack, advancing 1.79 per cent.
In the broader markets, the BSE Midcap and Smallcap indices extended gains and were up over 1% each
Markets crashed due to domestic worries; bluechip stocks tanked too.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
However, investors have turned cautious over the likelihood of Britain leaving the European Union.
Pharma shares extended losses after the government's ban on combination drugs.
The 30-share Sensex closed up 34 points at 27,831 and the 50-share Nifty ended up 15 points at 8,356.
Gains were led by index heavyweights with Reliance Industries contributing the most.
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
Midcap stocks continued to remain on buyers' radar with BSE Midcap index up 0.1%.
Investors are keenly awaiting the announcement of the macroeconomic data-IIP and CPI due on Tuesday.
After a volatile session, Sensex closed the day 563 points lower
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
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