Equity benchmark Sensex tanked 372 points on Thursday, tracking losses in index majors L&T, Infosys and TCS amid a negative trend in global markets. The 30-share index ended 372.32 points or 0.62 per cent lower at 59,636.01. Similarly, the NSE Nifty fell 133.85 points or 0.75 per cent to 17,764.80.
ITC was the top loser in the Sensex pack, shedding nearly 3 per cent, followed by Bajaj Finance, Kotak Bank, Bharti Airtel and Reliance Industries. Nifty fell 43.35 points to 17,324.90.
HCL Tech was the top gainer in the Sensex pack, rising around 3 per cent, followed by Tech Mahindra, Tata Steel, Wipro, NTPC and Titan. Nifty advanced 187.05 points to 16,801.25.
PowerGrid was the top loser in the Sensex pack, shedding over 4 per cent, followed by Reliance Industries, Asian Paints, Kotak Bank, Tech Mahindra and Bharti Airtel. NSE Nifty tanked 204.95 points to 17,196.70.
Rohit Gadia, who built a Rs 13-crore company in four years, speaks about how he converted his passion into a profitable business venture.
The market capitalisation of BSE-listed companies jumped to a record high of Rs 2,40,04,664.28 crore on Tuesday, driven by a rally in stocks that also saw the benchmark Sensex touching its lifetime peak of 53,887.98 points. Rallying for the second consecutive day on Tuesday, the 30-share BSE index closed at a fresh closing peak of 53,823.36 points, a jump of 872.73 points or 1.65 per cent. During the day, it zoomed 937.35 points to 53,887.98 points.
Investor wealth slumped by Rs 3.7 lakh crore on Monday, as the equity market recorded its biggest single-day fall in two months.
Analysts suggest investors remain in a wait-and-watch mode and not jump in to buy stocks across-the-board.
Sentiments in global markets, movement of rupee against the dollar and crude oil prices will dictate near-term trend
Auto stocks will be in focus
Currently, trades on the Indian stock exchanges are settled within two days, just like most major markets such as Singapore, Hong Kong, Australia, Japan, and South Korea. Indian exchanges, however, will be moving to T+1 settlement from February 25 in a phased manner.
In the case of Indian equities specifically, all eyes will now be on the next RBI monetary policy scheduled for September 29.
Over the past week, the BSE Sensex ended on a muted note, showing a marginal gain of 2.25 points at 28,114.56.
FII investments, movement of rupee against dollar and crude oil to influence trading
On the macroeconomic data front, PMI data on manufacturing and services sector will also influence trading
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
Government-controlled oil-marketing companies (OMCs) have held back petrol and diesel price revisions for a week and are expected to continue doing so, ostensibly owing to political reasons. It appears that the Centre has informally conveyed to the three major OMCs to not revise fuel prices for the time being, two people in the government said. This informal directive follows the talks between the Centre and states on cutting taxes and bringing the auto fuels under the good service tax regime not fetching the desired results, so far.
Stocks of three listed firms of Gujarat-based Adani Group on Friday ended as much as 6 per cent higher on the clear mandate given by voters to the BJP-led NDA.
'12250 should be considered a reasonable level to re-enter into the market.'
The oil crisis could not have come at a worse time for the Modi government as its tax collection has fallen short of its 2020-2021 target by Rs 5.2 lakh crore.
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Gaurav Garg, head of research at CapitalVia Global Research Limited will answer your stock market queries.
Progress of monsoon, investment trend by foreign investors and the movement of rupee against the dollar will also influence sentiment
Brokers hope of a stable government after elections and signs of economy returning to growth path.
This is the index's biggest single-day fall in almost a month
Over the past week, the Sensex and the Nifty continued the bull-run
Dollar's strength and falling crude oil prices force downward revision of 2015 growth forecast.
Sun Pharma dipped 2% to Rs 615 on the BSE, its lowest level since November 9, 2016
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
The Nifty50 slipped 33 points to close the session at 8,509 after hitting an intra-day high of 8,587.
Overall market benchmark Sensex is headed for its worst performance in four years with a decline of 1,650 points
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Broader markets underperformed the benchmark indices with BSE Midcap and Smallcap indces slipping 0.8%-1.1%
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
A mixed global trend and weakness in rupee influenced the sentiments during the day.
'Long-term retail investors should not worry about these sharp dips and jumps if they have chosen their stocks wisely.' 'Short-term volatility is a given and a rise and fall of two-three per cent should not worry them.'
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
Gains were led by index heavyweights with Reliance Industries contributing the most.
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