BSE benchmark Sensex nursed losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas. A depreciating rupee and foreign fund outflows further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points or 1.08 per cent lower at 59,646.15. The broader NSE Nifty snapped its eight-day rally to close at 17,758.45, down 198.05 points or 1.10 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Tech Mahindra was the top gainer in the Sensex pack, jumping over 5 per cent, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, L&T, Tata Steel and Infosys. NSE Nifty surged 191.95 points to 15,824.05.
The India Meteorological Department on Tuesday said the monsoon this year is expected to be 'above normal.'
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
On the back of rising crude oil purchases, India's bill for imports from sanctions-hit Russia jumped 3.5 times in a year in April to $2.3 billion, showed data from the commerce ministry. In April, India's crude oil imports from Russia were valued at $1.3 billion, 57 per cent of India's total inbound shipments from Russia. Other major imported items during the month included coal, soybean and sunflower oil, fertilisers, and non-industrial diamonds. That month, Russia was also the fourth-largest crude petroleum supplier to India, after Iraq, Saudi Arabia, and the United Arab Emirates (UAE).
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
If Cyrus's protestations of having no knowledge of his imminent dismissal are to be taken at face value, he was extraordinarily naive and insulated from the ground reality. There were enough straws in the wind to suggest that his relations with Ratan were fast deteriorating to a point of no return.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
Investors watch out for cues from the on-going winter session of the Parliament.
Promoter holding in family-owned firms up 70 bps since 2005, 240 bps since 2010.
Which were the five businesses Ratan Tata had great hopes for, but his successor failed to deliver?
Financials ended mixed despite the status-quo on key rates by the RBI. SBI, ICICI Bank and Axis Bank ended up 0.4-2.5% each.
The 50-share NSE Nifty ended flat, up 5.80 points, or 0.06 per cent, at 10,308.95.
Some of the top indebted companies likely to face financial headwinds in the coming quarters include NTPC, PowerGrid, Tata Steel, Adani Power, JSW Steel, UPL, and Steel Authority of India. Together these 201 companies owed Rs 14.9 trillion to their lenders at the end of September 30, 2019, up 4.1 per cent year-on-year (YoY) during the first half of FY20.
US-based Apollo Global has picked up stake in Indian firms which are not doing that well financially.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
Mittal's wealth dropped with the Arcelor Mittal share price falling
Bajaj Finance was the top gainer in the Sensex pack, rising around 11 per cent, followed by Titan, Tata Steel, SBI, M&M, HDFC, IndusInd Bank and Reliance Industries. On the other hand, Sun Pharma, Nestle India and UltraTech Cement were among the laggards.
The BSE Mid-Cap index was currently down 1.25%
The excise duty cut will translate into a reduction of Rs 9.5 a litre on petrol and Rs 7 a litre in diesel after taking into account its impact on other levies.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
SBI was the top loser in the Sensex pack, shedding over 4 per cent, followed by Bajaj Finserv, Axis Bank, ONGC, ITC, ICICI Bank, Bajaj Finance, Kotak Bank and HDFC Bank.
China's debt is dangerously high at close to three times its GDP, with the ratio having nearly doubled in recent years, observes T N Ninan.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
More than the story of any other footballer or athlete, Pele's life helped democratise his sport; made it the stuff of a widely shared dream. Shyam G Menon salutes the memory of the greatest footballer ever.
Vedanta was the biggest gainer in the Sensex pack, rising 4.40 per cent. PowerGrid, Sun Pharma, Yes Bank, Tata Steel, HDFC Bank, Bajaj Finance, ICICI Bank and Bajaj Auto too ended up to 4.12 per cent higher.
The 30-share Sensex ended down by 59 points at 27,027 and the 50-share Nifty slipped 7 points at 8,087.
The broader markets underperformed benchmark indices as the BSE Mid-cap and Small-cap tumbled over 2%.
Investors sought to book profits at attractive valuations after recent run up in last few trading sessions.
Banks led the decline with Nifty Bank and BSE Bank index dropping over 3% each.
The market price action seems to point in this direction. Let's hope we finally break out. It is about time! asserts Akash Prakash.
The Trump administration wants Prime Minister Modi to lower the trade barriers and embrace "fair and reciprocal" trade.
The market could be influenced by events elsewhere in the world and regardless of what happens to India's economy
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Steel major Tata Steel plans to become a partner in Canada-based New Millennium Capital Corp's $4-billion KeMag property, having iron ore reserves in excess of two billion tonnes.
Tata Consultancy Services, the $73 billion IT group, is India's biggest company by market value and four times the size of any other listed Tata entity
