Net sales growth for the quarter ended December (Q3FY20) was 4.5 per cent on a year-on-year (YoY) basis for companies that have declared their results so far, compared to an 8.4 per cent rise in the first half of the financial year. This indicates that there could be a further rise in days' sales of inventory.
Market players said a big upmove by the market will depend on policy action by the government to revive economic growth and corporate earnings revival.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
While RCom owes Indian banks close to Rs 45,000 crore, Ambani has lost close to $408 million of personal wealth year-to-date until Tuesday.
The weakness in the rupee and broader markets has led to evaporation in the market cap.
Geopolitical concerns, earnings sees investors rush to safe haven plays post the Union Budget presentation in July.
This is despite the private sector companies outperforming their public sector counterparts, reports Sachin P Mampatta.
'Gold could return 10% to 12% in the next two-three years.'
Market participants are hoping for a few tweaks on the taxation front which will encourage consumers and businesses to spend.
On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
Operational income not covering even their interest expenses, finds study; analysts say if economy turns around, new equity issuances an option
Lenders can now initiate recovery proceedings since the SC has lifted the standstill on asset classification, which protected stressed accounts from slipping into NPAs.
Analysts attribute this outperformance to the government's proactive economic reform measures
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
The derivatives expiry on Thursday is also expected to add to the volatility.
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
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