A new CBDT directive actively makes India-dedicated funds comparatively unattractive for institutional investors. It makes no sense, says Akash Prakash.
The NSE Nifty settled at 10,454.95, down 121.90 points, or 1.15 per cent.
The Indian market regulator had revamped the FPI regulations in 2014 giving custodians the mandate to collect and verify the KYC documentation of offshore investors
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
Late selling in realty, PSU and infrastructure stocks mainly dragged the market from early highs.
In the Sensex pack, other gainers were Bajaj Finance, Bharti Airtel, Tata Motors, Hero MotoCorp, HUL, Asian Paints, HDFC duo and ONGC -- gaining as much as 2.87 per cent.
It is too early to judge if the fall in Nifty from an all-time high of 11,170 to February 12 closing of 10,539 is a big trend reversal or merely a short-term correction, says Devangshu Datta.
The biggest losers in the Sensex pack were Vedanta, Tata Steel, M&M, Tata Motors, Maruti, Hero MotoCorp, PowerGrid, Bharti Airtel, SBI and Coal India -- falling up to 4.48 per cent.
Gains in key IT, capital goods, healthcare and metal stocks, after consistent buying by domestic and foreign investors, helped both the key indices to scale new peaks.
Major gainers in the Sensex pack were Wipro, Kotak Bank, Infosys, Maruti, Tata Motors, L&T, IndusInd Bank, Hero MotoCorp, M&M, SBI, ONGC, HDFC Bank and HUL, rising up to 3 per cent.
New regime places more limits on unregulated foreign entities
Appreciating rupee against the dollar and fresh buying by domestic institutional investors added to the momentum
The markets will remain choppy ahead of RBI policy.
Higher levels could not be sustained as participants offloaded their long positions in view of September series expiry.
Long-term investors should consider moving into smaller stocks. Rather than try to pick stocks, it makes sense to build a diversified portfolio by exposure across midcap and small caps funds, suggests Devangshu Datta.
Kotak Mahindra Bank was the biggest gainer on both the indices, ending nearly 9 per cent higher following reports that Warren Buffett's Berkshire Hathaway Inc was planning to pick up stake in the private sector lender.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
Signing of the pact will hopefully end stock market uncertainty that came with the mention of the M-name
Both the indices closed at five-month highs, led by financial services, IT and metal stocks, amid persistent foreign fund inflows.
Market watchers believe that the change in guidelines fly in the face of some of the recent initiatives taken by the government, such as easing norms for foreign portfolio investors.
Top gainers of the session included Bajaj Auto, Kotak Bank, M&M, Vedanta, IndusInd Bank, Asian Paints, HDFC Bank, Reliance Industries, HUL, HDFC, ITC, Tata Steel and Tata Motors, rallying up to 5 per cent.
Infosys, Reliance Industries, TCS, HDFC, HDFC Bank, Maruti, SBI, IndusInd Bank and Kotak Bank led the gains on the Sensex, rising up to 2.53 per cent.
In the Sensex pack, Axis Bank, Tata Motors, Infosys, Kotak Bank, HDFC Bank, RIL, Bajaj Auto, SBI, HUL, Tata Steel, Vedanta, HFDC, TCS, ITC and Sun Pharma jumped up to 4.64 per cent.
Modi, after delivering his sixth straight address to the nation on Independence Day from the ramparts of the Red Fort in New Delhi, went into a brainstorming session with Sitharaman and all top officials in her ministry, sources privy to the development said. T
Sustained foreign funds outflows and the rupee depreciating 68 paise to hit a three-month low of 64.88 (intra-day) against the dollar affected investor sentiment
The broader Nifty declined by 73.90 points, or 0.71 per cent, to end at 10,378.40.
Analysts said even though the Indian economy is expected to slow down to 7.2 per cent in fiscal 2020, it is still the best bet for investment for foreign investors.
Sentiments may get impacted as mutual funds have been gaining traction among investors as route to invest in stock markets
For the 50-share NSE Nifty, the close came in at 10,739.35, higher by 47.05 points, or 0.44 per cent
The decision would help provide ease of doing business and also lead to larger FDI inflows contributing to growth of investment, income and employment.
Sectorally, metal and banking stocks rallied the most, while FMCG and realty stocks came under selling pressure.
Among the Sensex pack, Yes Bank, L&T, HDFC, RIL, HDFC Bank, PowerGrid and Coal India were the biggest losers -- falling up to 2.43 per cent.
Overall market benchmark Sensex is headed for its worst performance in four years with a decline of 1,650 points
When you buy a stock, especially a mid- and small-cap one, have a price target. Once you hit the target, exit the stock, advises Joydeep Ghosh.
The broader NSE Nifty reclaimed the key 10,000-mark and touched a high of 10,143.50 before finally settling at 10,130.65
Liquidity issues post the crisis at DHFL, progress of monsoon, rupee trajectory at the domestic level and oil prices are some factors that will keep markets choppy, analysts say.
RBI might not cut rate on June 2 but will surely cut soon.
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
The biggest gainers in the Sensex pack in Friday's session were Yes Bank, Bharti Airtel, Tata Motors, Vedanta, SBI and Axis Bank, spurting up to 3.05 per cent. The losers included HCL Tech, TCS, Infosys, Hero MotoCorp, IndusInd Bank and Sun Pharma, falling up to 1.55 per cent.
The biggest losers in the Sensex pack were M&M, ONGC, Vedanta, Tata Steel, L&T, HDFC, NTPC and Axis Bank, falling up to 3.04 per cent.
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