'It is advisable to stay away from the markets for now and buy only on a dip.'
The Dalal Street was on Tuesday abuzz with an eerie coincidence that took place last night in the Wall Street, the US stock market, with its benchmark index S&P 500 closing at a level exactly same as that of October 3, 2008.
Firms in rush to raise capital but those putting in money at new valuations might be left holding the can.
At the heart of these predictable manifestations of business cycles usually were financial instruments which became so popular that they came to be more commonly referred to by their abbreviations or acronyms than their original names.
The Nifty IT index, data shows, has outperformed the markets in each of the last four election years post the result. announcement.
The consumer goods segment faces an uphill task of retaining investor interest in the near future as valuations become expensive.
It is pouring heavily not only in North India, but at Dalal Street too. However, the latter is seeing a flurry of initial public offers (IPOs). After a busy fortnight that ended on July 7 with seven IPOs - IdeaForge Technology, Cyient DLM, PKH Ventures, Pentagon Rubber, Global Pet Industries, Tridhya Tech, and Synoptics Technologies -- four more IPOs will hit the Street this week, including one mainboard IPO of Utkarsh Small Finance Bank. That apart, India's largest securities' depository National Securities Depository Limited (NSDL) has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for an IPO.
The Indian equity market has been dancing to the tune of foreign portfolio investors (FPIs) for more than two decades now. Typically, when FPIs are net-buyers on Dalal Street (D-Street) and raise their ownership of Indian equities, the broader market rallies. Conversely, when FPIs turn net-sellers, the stock prices decline. FPIs have been net-sellers on D-Street for five quarters on the trot and the result has been predictable.
ECB cuts rates to negative, Libor down to its lowest in 30 years
SBI reached its highest level since May 2011; ONGC and RIL also had a good day.
Mankekar has significant stakes in USL, Talwalkars, etc, but the worth of his overall holdings isn't known.
Despite volatile moves, the year 2012 has finally proved to be fruitful for the stock market with about 25 per cent appreciation in benchmark indices, but investors are looking forward to more stable times in 2013.
A fire broke out on Friday at the eighth floor of the Bombay Stock Exchange (BSE) building at Dalal Street in South Mumbai, fire officials said.No casualties have been reported so far, they added.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
Managing director and CEO of BSE Institute, Ambarish Datta, explains why courses offered by it are valuable and why those doing these courses stand a better chance in the job market.
The NSE Nifty closed at 4922, up 63 points. The market breadth was strong. out of 2874 stocks traded on the BSE, there were 1848 advancing stocks as against 942 declines.
Stock markets, which are facing the heat of political uncertainty over the 2G spectrum scam, have come under pressure as investors are pulling out their money to invest in the primary market.
Investors added more than Rs 10.56 lakh crore to their wealth as markets continued their rally for the sixth straight session on Thursday. The BSE Sensex went past 61,000-mark for the first time ever on Thursday. It jumped 568.90 points or 0.94 per cent to its new closing peak of 61,305.95.
The year may see BSE listing, Sensex @ 25000 and end of gold rally among others.
Have underperformed the market in the rally that started in November.
Tagged as a sleepy, regional lender till a few years earlier, the bank's stock was not much talked about in the investors' community.
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.
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.
SoftBank founder Masayoshi Son on Tuesday said its portfolio company Swiggy is expected to deliver "good returns" if the food delivery platform were to go public. Speaking at a post-earnings presentation for SoftBank, Son said one of Swiggy's rivals has recently gone public and its share price is doing great. Last month, Zomato made a stellar debut on Dalal Street with its shares zooming nearly 53 per cent against the issue price of Rs 76, and its market valuation crossing the Rs 1-lakh-crore mark.
"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."
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 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.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
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.
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.
