They prefer foreign markets owing to comparatively lower margins than Indian exchanges.
The Nifty closed below the 5,000 mark for the first time in seven days and the Sensex ended below the 17,000 mark. The market breadth was fairly negative. Out of 2,825 stocks traded on the BSE, 1,875 declined and 871 advanced.
The Nifty closed at 5,114, lower by 27 points. The market breadth was fairly negative. Of 2,844 shares traded on BSE, 1,471 declined, and 1,322 rose.
The Nifty also traded in a narrow range on either side of the 5000 mark before closing abover the 5000 mark yet again. It ended at 5006, up 47 points. The market breadth was positive. Out of 2852 stocks traded on he BSE, there were 1,655 advancing stocks as against 1,111 declines.
Major global indices - the Nasdaq, Bovespa, Seoul Composite, S&P 500, Dow Jones, S&P BSE Sensex, NYSE, DAX, Nikkei and, CAC 40 - have all gained 37 per cent to 75 per cent since their respective March 2020 low.
The NSE Nifty ended at 3545, up 54 points. The market breadth was fairly positive - out of 2,683 stocks traded, 1,654 advanced, 974 declined and 55 were unchanged on Tuesday.
The US Fed also said that the unemployment rate too would rise to 5.7 per cent.
Infosys slipped nearly 9% after the company cut full year revenue outlook for FY17.
The Sensex is holding on to its gains on steady gains in techs, PSUs and heavyweights, and is now up 32 points
Investors should use a mix of active and passive funds.
Over 87 per cent of active large-cap schemes failed to outperform the benchmark S&P BSE 100 (total return) in the 2022 calendar year (CY), significantly higher than the 2021 figure of 50 per cent, shows a report by S&P Dow Jones Indices. During the three-year period (CY 2020, '21, '22), the percentage of schemes underperforming the index was even higher at 97 per cent. While active large-cap schemes generally find it tough to outperform due to a rising efficiency in the market, 2022 proved to be even more challenging as mid-cap and small-cap stocks (where they have some allocation) performed poorly vis-a-vis the large-caps.
Benchmark Sensex trimmed early gains to close marginally higher while Nifty settled flat in choppy trade on Tuesday as gains in auto shares were offset by selling pressure in banking and energy shares. The 30-share BSE barometer closed marginally up by 37.08 points or 0.06 per cent to 60,978.75 with 15 of its stocks ending in green and the rest in red. The index opened higher and gained over 300 points to a high of 61,266.06 in early trade.
Technical fault was the reason behind it.
Raking up the issue of 1984 riots, Bharatiya Janata Party leader Arun Jaitley on Monday alleged that those guilty for the "state sponsored" violence still remain unpunished.
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
Tech Mahindra was the top laggard in the Sensex pack, followed by Tata Steel, Mahindra and Mahindra, HCL Tech, Infosys, SBI and Bajaj Finance.
Two firms belonging to the Adani group - India's most valued conglomerate - are part of the Nifty 50 index. The group, however, has no representation in the Sensex. And it could stay this way if a proposed index qualification rule change gets approved. Recently, Asia Index, a joint venture between S&P Dow Jones Indices and BSE responsible for index composition, floated a consultation paper where it proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index.
Back home, the Nifty IT index - a gauge of the performance of the IT stocks on the National Stock Exchange (NSE) that has closely mirrored the performance of NASDAQ over the past few years - has lost nearly 2 per cent in CY23.
From the 30-share pack, Asian Paints, Reliance Industries Limited, Bajaj Finance, Mahindra & Mahindra, Indusind Bank, Bajaj Finserv, Maruti Suzuki, HDFC Bank and UltraTech Cement were the major gainers, jumping up to 5.56 per cent.
The Dow has never lost more than 800 points in a day.
Monday's drop followed an 8.5 per cent slump in Chinese markets.
The broad-based Nifty slipped below the 8,600-level by losing 24.60 points, 0.28 per cent, to 8,590.65
The broader NSE Nifty closed below the 10,200-mark by slumping 99.85 points, or 0.98 per cent at 10,124.905.
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.
From the 30-share pack, Sun Pharma, TCS, Tech Mahindra, NTPC, Wipro, UltraTech Cement, Dr Reddy's Laboratories and Infosys were the major gainers, jumping up to 3.99 per cent. In contrast, Tata Steel, Nestle, Titan Company, PowerGrid, Reliance Industries Limited and State Bank of India were among the laggards.
If you plan to send your child to the US five years from now and expect the rupee to depreciate five per cent every year, adding US funds to your portfolio might be a good idea, says Ashley Coutinho.
Sentiment got a leg-up after the Lok Sabha on Thursday gave its approval for Rs 80,000 crore recapitalisation bonds for strengthening public sector banks, traders said.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
From the BSE 30-share blue chip pack, 27 scrips ended with losses led by SBI and Tata Steel.
The faster-than-expected rise in interest rates by the US Federal Reserve (US Fed) shook global financial markets in early 2022. And now the ongoing war between Russia and Ukraine has lifted commodity prices, with Brent crude oil hitting a 14-year high of $139 a barrel in intraday trade. All these developments have sent the equity markets across the world into a tailspin.
The benchmark Sensex companies' underlying earnings per share are down 3 per cent (on a cumulative basis) since January 2015, against 25 per cent rise in the index value during the period
As per the new methodology, stocks must have an annualised traded value of at least Rs 1,000 crore for their inclusion in the BSE 100 index at each semi-annual rebalancing
Sensex has shed over 150 points in afternoon trade.
All nine Adani stocks saw a rise in their share price in H1FY23, ranging from 6.1% in case of Adani Ports to 102% in case of Adani Power.
Analysts say the sell-off in risky assets will be temporary and could be a buying opportunity for long-term investors.
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