From the 30 Sensex pack, State Bank of India, Mahindra & Mahindra, Bharti Airtel, Titan, HDFC Bank, IndusInd Bank, Axis Bank and Bajaj Finance were the biggest laggards. JSW Steel, Tech Mahindra, Larsen & Toubro, Hindustan Unilever, HCL Technologies and Reliance Industries were among the gainers from the pack.
With the O2C business outlook on the mend, the Street is also looking forward to news on RIL's proposal to sell up to 20 per cent of the O2C business to a strategic investor like Saudi Aramco.
Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings. After a muted performance in 2022-23, equity markets made a remarkable recovery in FY24, giving handsome returns to investors. The 30-share BSE Sensex climbed 14,659.83 points or 24.85 per cent in 2023-24.
The government has been pressing citizens to pay taxes and be compliant, but they have very little to show regarding improved efficiencies in the companies they themselves own, the fund managers said.
Actively-managed large-cap mutual fund (MF) schemes have managed to regain some lost sheen this year after faring poorly in the 2022 calendar year (CY22). At the end of the first six months (H1) of CY23, 78 per cent of the active large-cap schemes were ahead of the Nifty50 index funds as against just 26 per cent in 2022. When compared to the Sensex index funds, 61 per cent active funds have delivered better returns, shows an analysis of Value Research data.
The biggest gainers on both bourses were Bharti Airtel, HDFC duo, L&T, Bajaj Auto, Kotak Bank, Reliance Industries, Axis Bank, ICICI Bank, SBI, ITC and Bajaj Finance, rising up to 4 per cent.
Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide. During the initial part of the year, markets were jolted by the Russia-Ukraine war.
Exodus of top managers an unintended side effect of roaring MF industry
They are making switch to the high-growth alternative investments fund industry, reports Pavan Burugula.
Stockmarket Gurus Raamdeo Agrawal, Manish Gunwani, S Naren and Nilesh Shah discuss their favourite themes for the New Year.
While debt funds have emerged as the flavour of the season, not all investors understand debt funds. So the best they can do is put trust in the fund manager and the fund house.
Metal shares were the top gainers with Hindalco up over 5%.
Markets have witnessed a gap down opening mirroring losses in the global equities with US markets taking a hit on worries about the health of Chinese economy.
In 5 years, the AMC has clocked a growth rate of 40% with its AUM up nearly 4 times.
'If you look at voice and data realisations in India, they are the lowest in the world.'
The fund industry may have embraced machines and robots, but managing money still needs the human touch
No one can fault India Inc for not taking care of shareholders; in fact, it has been extra generous.
'Will people who buy iPhones stop buying iPhones to help swadeshi models?' 'There should be some advantage for the consumer to make them buy a Made in India product.' 'Patriotism and nationalism are good words, but in business, it won't work.'
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