The other prominent gainers were Tech Mahindra, HCL Technologies, Wipro, State Bank of India and Larsen & Toubro. Bajaj Finserv, Power Grid, UltraTech Cement and HDFC Bank were among the laggards.
Strong currency and sagging oil prices are spooking policymakers.
In the United States, economic data is likely to take a back seat next week.
Axis Bank, Tata Steel, Kotak Mahindra Bank, ICICI Bank, Tata Motors, and Bajaj Finance were among the other major laggards. Tata Consultancy Services, Reliance Industries, UltraTech Cement, Infosys, HCL Technologies, and Tech Mahindra were among the gainers.
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.
Years of unprecedented stimulus has left the Fed swollen with $4.5 trillion in bonds
"I am really disappointed with the way the party is functioning. I am fed up with so many allegations of corruption levelled against the party and the government. I also do not support the way the issue of Sandeshkhali was handled," he said while maintaining that the dual issues of corruption and Sandeshkhali were the primary triggers for his decision to quit.
Fed rate hike 'makes sense,' says US reserve bank president.
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.
Global trends and trading activity of foreign investors would largely dictate terms in the equity markets this week amid a lack of major domestic triggers, analysts said. Markets may face near-term consolidation due to elevated valuations, they noted. "While the previous week was predominantly shaped by developments in the US Federal Reserve policy, attention will now shift to the Bank of Japan's policy decision on December 19," Santosh Meena, Head of Research, Swastika Investmart Ltd, said.
Maria Sharapova will lead Russia in their Fed Cup first-round tie against France next year, the country's tennis chief said on Tuesday.
An expected withdrawal of FIIs from the market likely to weaken the rupee against the dollar.
India is more insulated to Fed-related volatility than other emerging markets due to its better economic fundamentals
Among the Sensex firms, Infosys, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Wipro and JSW Steel were the major gainers during the morning deals. Nestle, Bharti Airtel, Axis Bank ITC were among the laggards.
Svetlana Kuznetsova and Anna Chakvetadze recorded contrasting victories against Italian opponents in Moscow.
Markets now expect the Fed to normalise rates gradually.
The Williams sisters will in the United States' Fed Cup match against Belgium in April.
Improvements in the labour market has triggered this sentiment.
The 70-year-old former French and US Open champion, who earned a reputation for controversial behaviour during his playing days, was excluded from the tie on Saturday for unsportsmanlike conduct.
'Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety.'
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
India has not been able to compete with countries such as Bangladesh and Vietnam.
Among the Sensex firms, Tech Mahindra, HCL Technologies, Wipro, Infosys, Bajaj Finance, Tata Consultancy Services, Bajaj Finserv and ICICI Bank were the major gainers. Power Grid, Nestle, Asian Paints and Hindustan Unilever were among the laggards.
Barbora Strycova beat Alize Cornet 6-2, 7-6(4) to put defending champions Czech Republic level at 2-2 against hosts France and send the Fed Cup final into a doubles decider on Sunday.
'The response from the government using words like malicious, deliberate, etc is diverting from the real issue.' 'The indicators related to young children such as stunting or child mortality are a reflection of the social development in the country.' 'That's how we have to look at it and not ignore the issue by denying the data.'
Fed Cup holders Italy reached their second straight final after Flavia Pennetta overcame Czech Petra Kvitova to seal an unassailable 3-0 lead on Sunday.
The new Samvat 2080 is viewed as a year of hope for industrial and precious metals. A key reason is the expectation of US interest rates peaking, followed by a reduction in the coming months. Regarding crude oil, its trajectory depends more on how the situation unfolds in West Asia.
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
World number four Petra Kvitova sealed the Fed Cup title for the Czech Republic with a thrilling win over Germany's Angelique Kerber, giving her country its third success in the premier team tournament in women's tennis in the last four years.
64% of 800 investors polled think it will start this week but weak US data suggest it might not be aggressive.
RBI's tricky strategy to ease market's pre-Fed jitters.
The nomination would put Yellen on course to be the first woman to lead the institution.
Belgium will meet the United States in the Fed Cup semi-finals after Kim Clijsters and Justine Henin-Hardenne beat holders Russia
Kim Clijsters powered Belgium into their second Fed Cup final with a comfortable 6-0, 6-1 win over American teenager Vania King.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
The Fed has prepared the world very well for a rate hike. In fact the market may have priced in a 25 basis points increase. So if the increase is 50 basis points, the reaction could be stunning, but a 25 basis points rise is not likely to have any great impact, says P V Subramanyam.
Martina Hingis has no plans of returning to play singles on the women's tour after a courageous performance in a Fed Cup defeat by Agnieszka Radwanska in Zielona Gora, Poland, on Saturday in her first major match in eight years.
Gold is up 0.8 per cent for the week, after hitting a near-two-week high earlier in the week.
Coming into the do-or-die match, Rohan Bopanna and Leander Paes, with a combined age of 86, won 6-3, 6-7(9), 7-5 after two hours and 21 minutes against Pavic and Skugor, ranked 15 and 32 respectively.
Stock markets will be largely driven by global trends and macroeconomic data announcements in a holiday-shortened week which may see volatility amid monthly derivatives expiry, say analysts. Equity markets will remain closed on Monday for Gurunanak Jayanti. Trading activity of foreign investors and the movement of the rupee against the dollar will also be tracked by investors.
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