HDFC Bank was the top loser in the Sensex pack, shedding over 3.5 per cent, followed by Bajaj Finance, L&T, HDFC, Bajaj Finserv, HDFC and Kotak Bank.
The government is set to earn an equity dividend of nearly Rs 13,800 crore from the listed public-sector banks (PSBs), all 12 of them, for FY23, up 50 per cent from Rs 9,210 crore in FY22. This will be the highest ever dividend for the government from PSBs. The 12 PSBs in our sample are paying an equity dividend of nearly Rs 21,000 crore for FY23, up 53 per cent from Rs 13,710 crore for FY22.
The brokerage earnings estimate for the January-March 2024 quarter (Q4FY24) for Nifty 50 companies hints at a slowdown in corporate profit growth while revenue increase is likely to be in low single digits as in the previous two quarters. According to various brokerage estimates, the companies' combined net profits are expected to grow 3.1 per cent year-on-year (Y-o-Y) in Q4FY24, the slowest in the last five quarters. For comparison, the index companies' combined net profits were up 8.2 per cent Y-o-Y in Q3FY24 and 3.4 per cent Y-o-Y in Q4FY23.
Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks. The 30-share BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39.
The total number of unique investors directly investing in the stock market has surged to 80 million for the first time, with the latest 10 million additions taking place in just eight months, according to data shared by the National Stock Exchange (NSE), the country's largest bourse. "The 80 million unique PAN (permanent account number) investors correspond approximately to around 50 million unique households in India amounting to around 17 per cent households directly investing in the Indian stock market via NSE's extensive nationwide network of trading members," said the exchange. In 2021, the number of domestic households were pegged at 300 million.
Fund managers have been advising investors not to keep their return expectation higher
This is a good opportunity for long-term investors to pick quality small and midcap stocks at reasonable valuations.
Bharti Airtel was the top loser in the Sensex pack, slipping around 1 per cent, followed by Tata Steel, HDFC Bank, Infosys, HDFC, Bajaj Auto and PowerGrid.
rediffGURU and financial planning expert Colonel Sanjeev Govila (retd) answers your personal finance-related questions.
Over 700,000 new investor accounts have been opened so far in FY15.
Today, it holds $131 billion in assets under management.
The biggest private sector lender, are swarming the market with discounts and special offers
rediffGURU Dev Ashish answers your personal finance and mutual fund queries.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
SBI was the biggest loser in the Sensex pack, tumbling 2.83 per cent, followed by Infosys, TCS, Bajaj Finance, Tech Mahindra, Wipro and Axis Bank. In contrast, Titan, L&T, NTPC, Power Grid, Sun Pharma, ITC and HDFC twins were among the prominent winners, rising as much as 1.97 per cent.
Bajaj Finserv, ICICI Bank, Nestle, UltraTech Cement, Bajaj Finance, Maruti, Tata Consultancy Services, IndusInd Bank and State Bank of India were the major laggards. Infosys, JSW Steel, NTPC and Power Grid were the gainers.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investors' wealth climbed Rs 3.20 lakh crore as markets staged a smart comeback on Wednesday after falling in the last eight trading sessions. The BSE Sensex rallied 448.96 points or 0.76 per cent to settle at 59,411.08. During the day, it jumped 513.33 points or 0.87 per cent to 59,475.45.
Equity benchmarks Sensex and Nifty declined nearly 1 per cent on Friday, in tandem with a weak trend in overseas markets amid hawkish tone of global central banks. The 30-share BSE Sensex fell 461.22 points or 0.75 per cent to settle at 61,337.81. During the day, it tumbled 506.5 points or 0.81 per cent to 61,292.53.
Among the Sensex firms, Asian Paints, NTPC, Tata Motors, Bharti Airtel, State Bank of India, Larsen & Toubro, Wipro, Tech Mahindra, Tata Consultancy Services, ITC, HDFC Bank and Maruti were the biggest winners. Hindustan Unilever, Infosys, UltraTech Cement, Bajaj Finance, Nestle, Axis Bank, Reliance Industries and HDFC were among the laggards.
A 5% increase is expected due to additional interest on approval costs.
Benchmark equity indices Sensex and Nifty rallied for a third day in a row on Wednesday on buying in Reliance Industries, Infosys, HDFC twins and ICICI Bank following gains in global equities amid hopes of a breakthrough in Russia-Ukraine peace talks. The 30-share BSE barometer index surged 740.34 points or 1.28 per cent to settle at 58,683.99. During the day, it jumped 784.13 points or 1.35 per cent to 58,727.78. Similarly, the broader NSE Nifty climbed 172.95 points or 1 per cent to settle at 17,498.25. Among the 30-share pack, Bajaj Finserv, Mahindra & Mahindra, Bajaj Finance, Power Grid, HDFC, ICICI Bank, Nestle, Maruti, Reliance Industries Limited were among the lead gainers. On the other hand, ITC, Tata Steel, Tech Mahindra, Bharti Airtel and Titan were among the laggards.
The 30-share BSE gauge climbed 465.14 points or 0.80 per cent to finish at 58,853.07. During the day, it jumped 546.97 points or 0.93 per cent to 58,934.90.
Equity benchmarks Sensex and Nifty gave up early gains and ended lower by 1 per cent on Wednesday amid a largely weak trend in Asian markets and sell-off in index majors Reliance Industries, ICICI Bank and HDFC twins. The 30-share BSE benchmark Sensex tumbled 635.05 points or 1.03 per cent to settle at 61,067.24. During the day, it slumped 763.91 points or 1.23 per cent to 60,938.38. The broader NSE Nifty declined 186.20 points or 1.01 per cent to end at 18,199.10.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries
The top-10 valued companies added a whopping Rs 2.72 lakh crore to their market valuation last week, as the domestic equity benchmarks witnessed heavy buying tracking an overall bullish trend in global equities. The benchmark indices made strong gains in the holiday-truncated week. The 30-share BSE Sensex climbed 2,313.63 points or 4.16 per cent, while the NSE Nifty advanced 656.60 points or 3.95 per cent. Mirroring the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country's top-10 firms zoomed by Rs 2,72,184.67 crore during last week.
Among the Sensex firms, HCL Technologies fell the most by 2.4 per cent. IndusInd Bank (2.35 per cent), Infosys (2.28 per cent), Wipro (1.8 per cent), NTPC (1.71 per cent), Asian Paints (1.7 per cent), Tata Consultancy Services (1.36 per cent),Tech Mahindra (1.03 per cent) and SBI (1 per cent) were among the major laggards.
IndusInd Bank was the biggest loser in the Sensex pack, shedding nearly 2 per cent, followed by Bharti Airtel, Reliance Industries, HDFC twins, SBI, HUL, Tata Motors, Nestle India and Axis Bank. On the other hand, Asian Paints, Tata Steel, Titan and L&T were among the gainers, rising up to 3.03 per cent.
From the Sensex pack, Tata Motors, Sun Pharma, Wipro, Tata Consultancy Services, UltraTech Cement, Tech Mahindra, Bajaj Finserv, HCL Technologies, Infosys and IndusInd Bank were the major laggards. NTPC, Power Grid, Reliance Industries, Tata Steel, HDFC and HDFC Bank were the major winners.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries
M&M was the biggest loser in the Sensex chart, falling 6.39 per cent, followed by Tech Mahindra, Nestle India, Bajaj Finance, Axis Bank, ITC, JSW Steel, HDFC Bank and RIL. On the other hand, Sun Pharma, Tata Motors, Bharti Airtel, L&T and Infosys were among the winners, rising up to 2.10 per cent.
From the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the major winners. Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
Benchmark stock indices Sensex and Nifty closed with losses in highly volatile trade on Thursday as banking and financial stocks retreated amid a weak trend in global equity markets. The 30-share BSE Sensex declined 89.14 points or 0.15 per cent to settle at 57,595.68. During the day, it touched a low of 57,138.51 and a high of 57,827.99. The broader NSE Nifty dipped 22.90 points or 0.13 per cent to settle at 17,222.75.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
Equity benchmarks declined on Thursday after a two-day rally, mirroring a weak trend in the US markets and fresh foreign fund outflows. Weak US consumer data and hawkish comments from the Fed's policymakers dragged markets lower. The 30-share BSE Sensex dropped 187.31 points or 0.31 per cent to settle at 60,858.43.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Equity investors have become poorer by more than Rs 18.74 lakh crore as the market continued to remain bearish for the fifth session on the trot on Thursday. The 30-share BSE Sensex tumbled 1,158.08 points or 2.14 per cent to end below the 53,000-level at 52,930.31 points on Thursday. Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points or 4.97 per cent during this period.
ICICI Bank, HUL, HDFC Bank, M&M, Ultra Cement, IndusInd Bank and Tech Mahindra were among the losers in the Sensex pack. NSE Nifty slipped 13.95 points to 17,355.30.
The Reserve Bank of India's (RBI's) latest order on unsecured loans is set to hit the banking sector's growth in the near-term, cautioned analysts, as they see banks slowing down on aggressive retail lending. Besides, cost of funds for non-banking finance companies (NBFC) is expected to inch up as banks will pass on higher capital charge to NBFCs. "We believe the fallout of the RBI action will be mainly on growth, given the rising dependence on unsecured retail loans and lending to NBFCs for growth.
