The downslide on Dalal Street did not spare big names in 2011, but small stocks lived up to their nomenclature with a much more sickening slump and investment in mid-cap companies also turned out to be messy affair.
Jhunjhunwala passed away early on Sunday morning due to a cardiac arrest, a source in his newly set up airline said.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
With the bulls staging a rally at Dalal Street, Foreign Institutional Investors (FIIs) are likely to ramp up their investments in Indian stocks significantly in the coming days, analysts say.
The investor is voting for safe investment avenues and is not impressed by the lucre promised by Dalal Street, says Mahesh Vyas.
Leading domestic brokerage Edelweiss sees the 'Modi-effect' play more on Dalal Street and has set a Sensex target of 29,000 and a Nifty target of 9,000 by December.
"The market will most probably open in negative territory but national fervour could help it in closing better," said Arun Kejriwal, director, Kejriwal Research and Investment Services. Global research firm Moody's Economy.com said, "Although the terrorist attacks are expected to affect market sentiment, local investors in Mumbai are well acquainted with terrorism and unlikely to engage in panic selling."
The Sensex ended at 16,877, weaker by 220 points and the Nifty closed at 5,033, lower by 72 points.
Investors say stocks to drift further, but impact of rating downgrade may be short-term.
The United Progressive Alliance government conveyed its intentions to tap the stock market for raising resources through sale of PSU shares while retaining 51 per cent stake in the state-owned firms.
Till 15 days ago, only two PSUs - Oil and Natural Gas Corporation (ONGC) and National Thermal Power Corporation (NTPC) - ranked amongst the five most valuable companies. But with two more PSUs, Mineral and Metals Trading Corporation (MMTC) and National Mineral Development Corporation (NMDC), seeing sustained rise in the last three months, the number has risen to four.
In an hour-long chat on rediff.com on Wednesday, market expert Pranav Sanghavi offered some valuable tips to our readers.
Bulls may be pinning hopes on Diwali fireworks at Dalal Street, but fund managers are uncertain whether this time around the 'festival of lights' will again trigger a historic trend of mostly positive movements.
Even as foreign institutional investors rapidly pull out their money from Dalal Street, Norway's sovereign wealth fund, the world's second largest, is set to invest $2 billion in Indian stocks.
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Investor wealth worth over Rs 13.44 lakh crore was wiped off on Thursday as the domestic equity markets tumbled along with global risk assets, after Russia launched military operations against Ukraine. Amid intensifying rout in the global financial markets, the 30-share BSE Sensex plummeted 2,702.15 points or 4.72 per cent to end at 54,529.91. The carnage on Dalal Street eroded investor wealth worth Rs 13,44,488.54 crore, taking the total market capitalisation (m-cap) to Rs 2,42,24,179.79 crore on the BSE.
This comes a couple of days after activists of the Sena's student's wing, Bharatiya Vidyarthi Sena, targeted establishments that still have Bombay in their names, including the city's prestigious school, Bombay Scottish, a Bombay Dyeing showroom and offices of The Times of India, whose city supplement is called Bombay Times. Senior Sena leaders on Tuesday held a protest outside PJ Towers on Dalal Street and threatened further action if their demand was not met.
According to an analysis of the changes in the listed companies' shareholding patterns since the beginning of this year, the number of companies where foreign institutional investors have raised their holding is bigger than that of those where FII holdings have gone down.
The rally was over before they could even blink.
The total wealth, measured in terms of cumulative market capitalisation of all the listed companies on the Bombay Stock Exchange, has surged to a high of Rs 60,74,290.48 crore (Rs 6,0742.9 billion), the latest data available with the bourse shows.
In an hour-long chat on rediff.com on Wednesday, market expert Pranav Sanghavi offered some valuable tips.
Dalal Street is expected to open a notch higher tomorrow on the back of strong Asian and European cues when markets open after four-day long holiday. Japan's Nikkei ended 1.33 per cent higher on Monday, while Shanghai closed up 1.51 per cent.
Making the things worse, those hitting their record low share prices included big names like Reliance Power, Cipla, Ranbaxy, Ambuja Cement, Hindalco, Indian Hotels, Jaiprakash Associates, Jet Airways, Suzlon Energy and Idea Cellular. Realty majors DLF Ltd, Unitech, Parsvnath, Sobha Developers, Omaxe and Puravankara also plunged to their all-time lows.
Political uncertainty coupled with the absence of buying support and increased selling from foreign institutional investors and local operators pushed the benchmark CSE-40 index down by 8.98 per cent at Calcutta Stock Exchange on Monday.
"In next 12 to 18 months we should see a lot of uncertainty being cleared, and might see a new high certainly in late 2009 or early 2010, when uncertainty in global market is diminished and domestic concerns like inflation and high interest rates come under control," Religare Securities President (equity) Amitabh Chakraborty said.
The CSE is a novel concept created by the students of Indian Institue of Management-Ahmedabad and IIT-Roorkee that allows cricket-crazy fans to trade virtual stocks of their favourite players online.
The UPA government will follow an inclusive reforms agenda all the while keeping a check on India's fiscal health, says Manoj Vohra, research director at Economist Intelligence Unit.
Dalal Street is likely to cross the 15,000 level on Tuesday and may hit the first upper circuit of 10 per cent as the upbeat market sentiment may attract retail investors to cash in on the bullish phase, analysts said.
On the heels of huge success of Parsvnath Developers' public issue, which was over subscribed 62 times, domestic real estate firms are planning to raise nearly Rs 22,500 crore (Rs 225 billion) through their public offerings.
The combined market valuation of all the listed companies in the country dropped to Rs 30,86,075 crore (Rs 30,860.75 billion) on the last day of this fiscal as against Rs 49,72,953.37 crore (Rs 49,729.53 billion) on March 31, 2008, leading to a loss of over Rs 18,86,000 crore (Rs 18,860 billion) during the period.
According to a Credit Suisse report, the steep Sensex fall has validated two fears: (1) The Indian market is linked to global developments; and (2) Foreign flows are the biggest drivers of the market.
Investors on Dalal Street seem to have nothing to fear as over 228 scrips on Wednesday surged to their upper circuit levels, even as the benchmark index Sensex had plunged 10 per cent to touch its lower limit in the morning trade. As per the data available on the Bombay Stock Exchange, 228 scrips across all groups touched their upper circuit limit, representing the cap on the upward movements, while just 132 stocks touched their floor limit.
The circuit breaker system becomes effective at three stages of the index movement -which has been fixed as 10 per cent, 15 per cent and 20 per cent in either BSE's Sensex or NSE's Nifty whichever is earlier.In case of a 10 per cent movement on either side in either of the two benchmark indices, there would be a one-hour halt if this movement takes place before 1 pm
Ahead of the credit policy markets were down by 400 points and after RBI announced the credit policy, it went into a downward spiral falling by another 337 points to below 9,000-points mark, a level last seen in July 2006. RBI on Friday kept its key rates unchanged in the mid-term review of annual monetary policy and lowered economic growth projections to 7.5-8 per cent for 2008-09.
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