The market benchmark appears set to end 2013 on a positive note with a modest gain of over 7 per cent, but such gains are not to be seen in a majority of stocks available in the market, which predominantly include those of mid-size and smaller companies, shows an analysis of various indices.
Dragged down by Coal India, the cumulative market valuation of four among the top 10 Indian companies fell by Rs 30,679.66 crore during the past week.
IT major nears $100 bn m-cap, accounts for 61% of the group's combined valuation.
Tata Motors was the biggest gainer in the Sensex pack, rallying 2.94 per cent. It was followed by Vedanta, Bajaj Finance, Sun Pharma, ONGC, ICICI Bank, Bajaj Auto, Tata Steel, RIL, HDFC duo, L&T and SBI, rising up to 2.78 per cent.
These funds can fetch double-digit returns over the long term which debt tax-saving products can't.
Post the change in debt fund taxation in March, a lesser-known hybrid fund has emerged as one of the alternatives for fixed-income investors. Equity savings schemes, the smallest hybrid fund category in terms of assets, have raked in around Rs 6,000 crore this financial year (FY24) so far compared to Rs 1,100-crore outflow in FY23. The inflows along with a strong performance led to a 50 per cent surge in assets under management (AUM) to Rs 24,100 crore during April-November, shows data from the Association of Mutual Funds in India (Amfi).
Srinivas Bhogle and Purnendu Maji present Rediff.com's Most Valuable performances of IPL 2024
'Continue with your SIPs to get the benefit of lower average prices in this challenging market environment.'
Shares of most of the Adani group firms ended lower on Monday, a day after it released a 413-page response to allegations of wrongdoing brought by a US-based short seller Hindenburg Research.
Experts say the stock market correction in recent times increases the risk-reward in favour of large-cap stocks.
A market correction is a good time to reassess the quality of your portfolio and purge the poor quality names from it, says Ramesh Bukka
The broader NSE Nifty, after shuttling between 10,600.25 and 10,491.45 points, ended the last session of Samvat 2074 with a rise of 6 points, or 0.06 per cent, to end at 10,530.
Beat gains made by mid-cap, broader indices.
Boosted by a rally in stocks, total market valuation of listed companies at the National Stock Exchange hit the Rs 100 lakh crore-mark on Wednesday.
Public-sector enterprise stocks have seen a good run thus far in 2023-24 (FY24), with the S&P BSE PSU Index surging by over 26 per cent during the period, compared to an 11 per cent increase in the benchmark S&P BSE Sensex.
Forex dealers said a strong opening in domestic equity markets supported the rupee.
Bangladesh beat New Zealand by five wickets in the opening Twenty20 International at McLean Park, Napier, on Wednesday after dismissing the hosts cheaply for the second time in four days.
The local currency had gained 17 paise to close at three-month high of 66.37 in Wednesday's trade.
The local currency had gained 7 paise to close at 66.57 in Monday's trade.
In Friday's market rally post the corporate tax cut, the country's top business promoters recouped more than two-thirds of the losses that they suffered in the post-Budget sell-off in equity markets.
Yes Bank was the top gainer in the Sensex pack rising 5.80 per cent, followed by Tata Motors, ICICI Bank, IndusInd Bank, Axis Bank, Kotak Bank and Tata Steel.
Top gainers in the Sensex pack included Bharti Airtel, SBI, Tata Steel, Vedanta, NTPC, HDFC Bank, HCL Tech, ONGC, ICICI Bank and L&T, which rose up to 2.97 per cent.
The sharp rally in the midcap stocks has made valuations expensive, and there is room for a correction, wrote Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear. The midcap index, Wood said, now trades at 24.1x 12-month forward earnings compared with 18.7x for the Nifty. Rising crude oil prices, he believes, are another worry for India, which imports nearly 80 per cent of its annual crude oil requirement.
'A mid-year review makes the end-of-year financial review manageable and less stressful.'
One common mistake investors commit during profit booking is not having a plan for the redeployment of the money that comes into their account.
In the ranking of top-10 firms, TCS stood at number one position
The continued selling in frontline stocks by foreign investors over the past one month, which also coincided with curbs on participatory notes (P-notes), delayed the Sensex and the Nifty from closing above the crucial milestone of 20,000 and 6,000 respectively.
The market capitalisation of Adani Group companies rose by nearly Rs 73,000 crore on Monday as investors lapped up shares of the power-to-port conglomerate after BJP's electoral wins in three states, spurring hopes of regime continuity at the Centre. The Gautam Adani group's market map once again neared the Rs 12-trillion mark, following sharp gains made over the past week. "Two big overhangs for the Adani Group have receded somewhat following the state election results, there is more certainty that the BJP will win a third time next year.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
L&T was the top gainer in the Sensex pack, spurting over 6 per cent, followed by Hero MotoCorp, HDFC Bank, IndusInd Bank, Maruti, HDFC and HCL Tech. On the other hand, ITC, SBI and Bharti Airtel ended in the red.
'Till the time you have the equations right the market will remain concerned.' 'If the (coalition) government is taken care of, then probably (the markets will) come back to its rhythm.'
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
RIL was placed at number one position, followed by TCS, HDFC Bank, HUL, HDFC, ITC, State Bank of India, Infosys, Kotak Mahindra Bank and ICICI Bank.
During interrogation, Shibi told the police that the main victim had spurned his amorous advances, and he took this "extreme step to show his disappointment in love."
The BSE Sensex moved up 103 points to 35,319.35, while the wider NSE Nifty finished at 10,741.70, up 23.90 points.
'The government is encouraging consumption through fiscal spending in a bid to push up economic growth in the face of a slowdown in corporate investment and exports.'
Novak Djokovic's bid for a record 25th Grand Slam title kicked off on Monday with an easy win over qualifier Radu Albot in the US Open first round.
Fundraising via the initial public offering (IPO) route by companies may touch Rs 1 trillion in financial year 2024-25 (FY25), according to a recent note by Pantomath Group - a mid-market investment bank. During the financial year 2023-24 (FY24), 76 companies tapped the markets through mainboard IPOs, Pantomath said, raising nearly Rs 62,862 crore. This is a 21 per cent rise compared to FY23, the note added.
