Richest 10 account for 41% of promoter wealth, up from 33% in December 2018, says Krishna Kant.
The 30-share Sensex ended lower by 61 points at 29,122 mark and the 50-share Nifty slipped by 12 points to close at 8,797.
Ajit Mishra, vice president, Research, Religare Broking, answers readers' queries on stocks they own or want to buy.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
On the sectoral front, rate-sensitive sectors such as Bankex and Auto gained by 1% and 0.7% respectively while BSE Consumer Durables gained 1.4%.
ICICI Bank was the top gainer after stable rating for its senior unsecured bonds by S&P Global Ratings.
Shares of ING Vysya Bank and Kotak Mahindra Bank rallied by up to 6% on the BSE on reports that Kotak Mahindra Bank in final stages to buy the bank.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
Auto stocks Hero MotoCorp and Mahindra & Mahindra gained 1-2 per cent on the back of strong sales in the month of September.
The Sensex ended in red on domestic concerns.
The S&P BSE Sensex closed at 26,190, up by 43 points and Nifty50 settled above 7,950 to end at 7,963, up by 17 points
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
FIIs pump in Rs 2,075 crore in past three trading sessions.
Sensex rises, Nifty ends at record high; RIL shares rally.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Jindal Steel and Power was the top loser down 10% followed by Hindalco, Tata Steel, Tata Power which ended down between 0.5-3% each.
Investment in market leaders with a safety-first approach could yield reasonable returns across sectors.
Happy at the clear mandate given by voters to the BJP-led NDA, India Inc on Friday exuded confidence that Narendra Modi will initiate bold and decisive policy reforms to promote economic growth.
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