Weakness in the rupee against the US dollar also weighed on domestic stocks. The local unit fell 11 paise to 70.60 against the US dollar intra-day.
Yes Bank, Wipro, Kotak Bank, M&M, Sun Pharma, Maruti, HDFC, Hero MotoCorp, Infosys, TCS, L&T, Bajaj Auto and HUL were among the top gainers, rising up to 6 per cent.
The government has not set up any committee to probe allegations a US short seller labelled against the Adani Group, but stock market regulator SEBI is investigating market allegations against the group, the Lok Sabha was informed on Monday. A separate investigation into imports of Indonesian coal by the conglomerate hasn't reached finality, Minister of State for Finance Pankaj Chaudhary said. Lok Sabha saw several questions being put by MPs to the government on the Adani issue, which were replied through written responses by the minister.
RailTel Corporation of India, Indigo Paints, Home First Finance Company, Indian Railway Finance Corporation, and Suryoday Small Finance Bank are among the companies looking to tap the market.
The surge in IT, auto and FMCG stocks were led by investors seeking safety against market volatility.
The recovering valuations, will lead to enhanced optimism among investors about funding startups.
Highlights of the announcements made by Finance Minister Nirmala Sitharaman on the reduction in corporate tax and other fiscal relief measures for the economy to promote growth and investment.
'If there is any reason to change my holding in Adani group stocks, the Hindenburg report on the group is not the one.'
According to experts, work from home, volatility in stock markets worldwide, and redemption pressures compelled investors to defer new investment plans.
While Airtel has hiked the limit to 100 per cent in principle, the company needs to address some issues on overseas investment limits in subsidiaries, before the changes come into effect. Until then, the cap on foreign ownership will remain at 49 per cent under the automatic route.
Replying to a question in Rajya Sabha, Minister of State for Finance Nirmala Sitharaman said the drive against tax evasion is an ongoing process and the government has taken various steps under a multi-pronged strategy to deal with the issue of black money.
Benchmark stock indices Sensex and Nifty fell for the third day running on Friday due to weak trends in global markets and soaring crude oil prices. Foreign fund outflows also weighed on investor sentiments amid strengthening US bond yields which are nearing 5 per cent for the first time since 2007. The 30-share BSE Sensex fell 231.62 points or 0.35 per cent to settle at 65,397.62.
Have the markets already played out their dynamics before the economy has even properly taken off? Are we now destined for a period of mediocre returns despite a strong economy? asks Akash Prakash.
Results of some blue-chip companies exceeded expectations, providing additional thrust, traders said.
Do keep the tax impact and exit load in mind before you take a decision to sell, says Vishal Dhawan.
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Rupee rebounds 26 paise against dollar; snaps 2-day losses
The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
The 50-share NSE Nifty settled lower by 94.05 points, or 0.87 per cent, at 10,666.55 after shuttling between 10,586.80 and 10,702.75.
'Sebi has to make sure that investor interests are protected and at the same time, there isn't over-regulation so that companies don't get discouraged to list here.'
The reserves rose to $501.70 billion helped by a whopping rise in foreign currency assets, the latest data from the Reserve Bank of India.
Power, realty, FMCG, consumer durables, metal, infrastructure, PSU and oil and gas and banking stocks emerged front-runners on sustained buying by participants.
Of $90 billion remittances that India is expected to receive in 2022, only $27.4 billion has come in the first half of the year.
Rupee is seen strengthening against the dollar.
Led by a new generation of entrepreneurs, India's family offices are shifting from traditional investments in physical and tangible assets like real estate to investing in technology, healthcare, and retail stocks. This new wave of family offices is engaging in stock market investments, including pre-IPO placements and secondary market operations. "Born into a world of technology, the next generation, especially those born after 2000, view technology as equally crucial as finance for running a business.
High net worth individuals (HNIs) are considered more investment-savvy than retail investors.
Of the 59 IPOs for which the data is available, 36 IPOs received mega responses of more than 10x (of which, six IPOs more than 100x), while eight IPOs were oversubscribed more than 3x.
With Sebi telling the Supreme Court that it was not investigating the Adani group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".
The biggest gainers in the Sensex pack were Sun Pharma, Bajaj Finance, Vedanta, Yes Bank, ICICI Bank, HDFC, Tata Motors, HCL Tech, IndusInd Bank and Axis Bank, rising up to 2.98 per cent.
The NSE 50-share after moving between 10,309.85 and 10,261.50 on alternate bouts of selling and buying, finished at 10,298.75, with paltry gains of 15.15 points, or 0.15 per cent.
Irrational behaviour, born out of incomplete understanding, biases, overconfidence, fear or greed, has led investors to make less than half of what they could have in the capital markets, says Erik Hon.
The broader 50-issue NSE Nifty dropped 38.35 points, or 0.38 per cent, to close at 10,186.60
The rupee extended gains for the fourth straight day against the US currency on Thursday.
Rupee hits 2-month low, down 21 paise against dollar.
Rupee falls 5 paise against dollar, ends at 61.92.
The rupee appreciated by 29 paise to close at 63.38 against the greenback following fresh dollar selling by exporters.
Earnings growth is expected to accelerate as lingering toxic effects of note ban ease off and GST settles down. However, stock valuations are high and that means market is also overdue for correction, says Devangshu Datta.
This amount does not include losses suffered indirectly through investment in mutual funds (MFs) and insurance companies.
Foreign portfolio investors have been net positive since the Union Budget
A global association for regulated funds that is leading efforts to shorten the settlement cycle for US equities has reached out to the Securities and Exchange Board of India (Sebi) with a plea to extend the T+1 implementation timeline by 18 months. The short transition period of four months does not provide foreign portfolio investors (FPIs), their services providers, and broker dealers sufficient time to make the necessary operational and compliance changes to accommodate a shorter settlement cycle, ICI Global said in its letter addressed to Sebi chairman Ajay Tyagi written a few days back. ICI Global carries out the international work of the Investment Company Institute (ICI), a global association for regulated funds, whose members manage assets of more than $42 trillion.
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