Street may be ignoring TCS headwinds as the stock's peak valuation doesn't seem justified by BFSI weakness, likely higher US tax rates and stronger rupee, reports Ram Prasad Sahu.
Some type of global shock adds to the allure of the dollar.
The market breadth in BSE remains positive with 1,554 shares advancing and 1,196 shares declining.
Reliance announced energy asset sales worth around $ 16 billion; end of the investment cycle in telecom; bringing net-debt to zero in 18 months; value-unlocking options for real estate and financial assets; listing of telecom and retail in five years; and focus on dividends.
A strengthening dollar overseas also kept the rupee under pressure amid demand from importers. Goldman Sachs followed JP Morgan, HSBC and Nomura in cutting India's economic growth forecast and also said it expects the rupee to touch 72 against the dollar in the next six months.
'If businesses are focused on de-leveraging, they can hardly be investing. This is the price extracted by investment mistakes during UPA rule, and should have been foreseen. 'But Modi-I must share the blame, for muted reform of the financial sector, partisan policy in telecom, the harm done to exports by an over-priced rupee, and so on,' says T N Ninan.
Nearly 150 companies visited the campus this year.
Any change in rates would mean more volatility; else, poll outcome-fuelled rally expected to continue.
The RBI is working to nudge large foreign banks with 30 or more branches in India to get incorporated locally.
The wide-based NSE sensitive index is currently hovering around 7,900.
According to the global financial services major, FIIs have recouped around 25 per cent of the outflows seen over the June-August period, when the country witnessed its sharpest bout of FII outflows since the global financial crisis.
'China's economy continues to slow and the US Fed may still hike rates before the end of the year.'
It will take over large non-performing assets of banks and help in revive companies ridden with bad debts.
While some companies, such as HSBC, have closed retail operations, big players such as India Infoline is scaling down.
Markets have gone into a tailspin, the Modi govt must revive investment sentiment.
The Sensex ended up 244 points at 28,504 on strong global cues.
Competitive price will face stiff challenge from incumbents such as DD Free Dish
The 30-share Sensex ended down 538 points at 26,781 and 50-share Nifty ended down 152 points at 8,067.
Markets shrugged off RBI's neutral stance on key policy rates.
The regional fallout could continue.
Pharma shares extended losses after the government's ban on combination drugs.
Investor sentiment got a boost following remarks from the Russian President Putin that allayed fears of an imminent military conflict in Ukraine
L&T, ONGC and banking scrips power gains in today's trade
Share rises further to 73 per cent from 66 per cent last year; Some overseas i-banks seen scaling down operations
Sensex closed 63.82 points higher at 26,851.05 in Muhurat trading; Nifty rises 18.65 points to end at 8,014.55.
.jpg)
The market regulator is wielding an unprecedented level of control over how mutual funds operate, delaying new launches and dictating investment strategy, frustrated insiders in the embattled industry say.
Bharti Airtel , RCom and Tata Communications ended down between 0.1-1%.
Floor price of SAIL to be set at Rs 83 a share.
The introduction of GST would constitute India's biggest reform.
Most analysts expect the note ban to sharply hit GVA growth in Q3 and Q4, and the central bank's stance is being called into question.
Markets recovered in late trades, amid firm European cues, led by rebound in financials and gains in IT shares.
AirAsia's rival airlines in India have kept themselves super-busy in the past few months -- by moving court against the former's launch, adding flights on the routes where AirAsia is operating, and engaging in a price war.
Experts caution against tough times in Indian equity markets in 2015.
Many factors leading to the 2008 financial crisis still exist.
The Sensex ended down 134 points at 28,559 and the Nifty ended 35 points lower at 8,554
Bank of America Merrill Lynch believes this would ease pressures on CAD as $10 a bbl fall in oil price reduces CAD by $8 billion or 0.4 per cent of GDP.
Sebi's new FPI regulation has helped attract new capital pool, up registrations.
The 30-share Sensex ended down 30.30 points at 28,161.72 and the 50-share Nifty dipped 7.95 points at 8,543.
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
The most preferred CoCo bonds are those through which banks raise their additional Tier-I capital.
