From the 30 Sensex firms, NTPC, Nestle, Titan, Kotak Mahindra Bank, Maruti, Hindustan Unilever, Bharti Airtel and HDFC Bank were the biggest gainers. HCL Technologies, Tata Consultancy Services, Adani Ports, Larsen & Toubro, JSW Steel, State Bank of India, Tech Mahindra and Bajaj Finance were among the laggards from the pack.
Goldman Sachs expects gold to reach $3,150 per ounce in the international market by December 2025, up around 19.1 per cent from its current level of $2,645, according to a recent report in Business Standard. Domestically, gold is trading at Rs 76,018 per 10 grams after delivering a remarkable 21.9 per cent return in the past year.
Market chatter suggests that the BJP could win fewer than 300.
Net investments in active equity mutual fund (MF) schemes rose to Rs 7,300 crore in December after declining to a 21-month low of Rs 2,260 crore in November, shows the latest data from the Association of Mutual Funds in India (Amfi). The rebound in net inflows was driven by a surge in investments and moderation in redemptions. While the inflows into these schemes rose 5 per cent month-on-month (MoM) in December, the redemptions were 14 per cent lower compared to November.
Mutual fund houses have been on an equity buying spree in the past three months as they have invested a net amount of Rs 55,000 crore in them between January and March 2023. The number is more than double the amount deployed in the preceding three months (October to December), signalling improved valuations and favourable economic indicators. The valuations, which had peaked in October 2021, returned to its long-term average in March 2023.
RBI interest rate decision, macroeconomic data and global trends would guide markets' movement this week, analysts said. Besides, trading activity of foreign investors and the last batch of Q1 earnings announcements would also guide trends in equities. HSBC PMI (Purchasing Managers' Index) for the services sector is scheduled to be announced on Monday.
Quarterly earnings from corporates, the US Fed interest rate decision and other global trends will be the major driving factors for determining movement in the domestic equity market in a holiday-shortened week ahead, analysts said. Besides, factors like trading activity of foreign investors, global oil benchmark Brent crude and rupee-dollar trend would also influence trading.
From the Sensex pack, Tata Motors, Sun Pharmaceutical, Bharti Airtel, Bajaj Finserv, ICICI Bank, Mahindra & Mahindra and JSW Steel were the gainers. Tech Mahindra, HCL Technologies, Asian Paints, Titan, Infosys, State Bank of India, Tata Consultancy Services and HDFC Bank were the laggards.
Gold, a safe-haven bet, is likely to continue its record-smashing journey in the New Year, rising to Rs 85,000 per 10 grams and even Rs 90,000 level in domestic markets if geopolitical tensions and global economic uncertainties continue.
Benchmark Sensex closed above the 85,000 level for the first time while Nifty scaled the 26,000 peak at close on Wednesday as fag-end buying in banking and power shares helped stock markets recoup early losses. After a see-saw trade during the day, the 30-share BSE Sensex rose by 255.83 points or 0.30 per cent to settle at an all-time high of 85,169.87. During the day, it surged 333.38 points or 0.39 per cent to hit a record intra-day peak of 85,247.42.
While the four largest listed paint companies have seen marginal negative returns, the S&P BSE Fast Moving Consumer Goods (FMCG) and the National Stock Exchange Nifty FMCG indices have delivered a solid 16 per cent return during the same period. Initially, volume growth and reduced costs bolstered the sector's sentiment, but brokerages have grown cautious due to increased competitive pressures.
After a strong run in the midcap and smallcap indices, which surged 46 per cent and 43 per cent, respectively, on the National Stock Exchange (NSE) during Samvat 2080, analysts suggest that the rally in these segments may pause to catch its breath in Samvat 2081.
In a data-packed week, the domestic macroeconomic figures -- industrial production and inflation numbers -- along with global trends would dictate trends in the equity market this week, analysts said. According to experts, markets may face volatile trends due to high valuations. Equity benchmark indices Sensex and Nifty hit their fresh record peaks on Thursday. Besides, trading activity of foreign investors, movement of global oil benchmark Brent crude and rupee-dollar trend would also influence trading in equities.
Foreign portfolio investors (FPIs) have net sold domestic shares worth over $10 billion so far this month amid a shift to China, which not only offers attractive valuations compared to India but has also announced several measures to support the economy and the stock market in recent weeks. If the trend doesn't reverse, this will be the first time that overseas funds will yank out more than $10 billion from Indian equity markets in a month.
Foreign Portfolio Investors (FPIs) have pumped Rs 47,148 crore in the Indian equities in June, making it the highest inflow in 10 months, enthused by the country's steadily improving macroeconomic fundamentals. However, inflows in July may be subdued as FPIs might adopt cautious stance due to the recent comments from the US Federal Reserve, Mayank Mehraa, Smallcase manager and principal partner at financial consultancy Craving Alpha, said. Besides, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said FPIs are likely to turn a bit cautious going forward as valuations in the country are rich from a short-term perspective.
Release of key macroeconomic numbers, monthly derivatives expiry, and global cues are likely to drive stock market movement this week, according to analysts. Markets will also be reacting to remarks made by the US Federal Reserve Chair Jerome Powell, they said. "This week, we expect the market to witness a gradual up-move with stock-specific action.
Domestic mutual funds (MFs) have kept their faith in the Indian stock market despite multiple headwinds all through 2022-23 (FY23), with their net flows into equities crossing the Rs 1.5-trillion mark for the second consecutive financial year. MFs pumped a net Rs 1.53 trillion into equities till March 1, 2023, the Securities and Exchange Board of India (Sebi) data shows, as compared to Rs 1.72 trillion in FY22. Since FY15, MFs have been net buyers of equities, except in FY21, when they sold a net Rs 1.21 trillion.
Equity markets will take cues from global trends and trading activity of foreign investors, while in the latter part of the week the first quarter earnings from IT majors TCS and HCL Technologies would guide investor sentiments, analysts said. Markets may consolidate after the record rally last week, experts added. "On the domestic front, the Q1 earnings season begins this week. Key companies such as TCS and HCL Technologies will release their earnings on July 11 and 12, 2024, respectively.
Benchmark equity indices Sensex and Nifty slumped over 1 per cent on Friday, tracking a weak trend in global markets and fresh foreign fund outflows. Falling for the third day running, the 30-share BSE Sensex tumbled 1,017.23 points or 1.24 per cent to settle at 81,183.93.
A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback. The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24. During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
Hyundai Motor India Ltd has become the country's fifth most valuable auto firm by market valuation in its debut trade on Tuesday. Shares of Hyundai Motor India Ltd, the Indian arm of South Korean automaker Hyundai, listed at Rs 1,931, reflecting a decline of 1.47 per cent against the issue price of Rs 1,960 on the BSE earlier in the day. The stock slumped 7.80 per cent to Rs 1,807.05 during the day and finally ended at Rs 1,820.40 apiece, down 7.12 per cent.
From the Sensex pack, Tata Motors, NTPC, Bajaj Finserv, Power Grid Corp, Titan, Asian Paints, IndusInd Bank, Maruti Suzuki India and Tata Steel were among the biggest gainers. Sun Pharmaceuticals, ITC, Hindustan Unilever, Bharti Airtel, UltraTech Cement and Reliance Industries were among the laggards.
'Of the 20 trading days of January till January 28, FIIs have been selling for 19 trading days'. 'When did FIIs withdraw money with this kind of intensity?' 'It never happened. It's the first. It did not happen even during the 2008-2009 financial crisis when Lehman went under.' 'Even then you did not have like a 19-day selling spree from the FIIs.'
Mutual funds (MFs) invested a record Rs 1.73 trillion in equities in the financial year 2022-23 (FY23), providing strong support to the Indian markets at a time when foreign investors were redeeming their holdings. They exceeded the previous high of nearly Rs 1.72 trillion investment in equities in FY22. The data from the Securities and Exchange Board of India (Sebi) shows MFs were net buyers in the equity market in eleven of the twelve months last financial year.
Among the 30 Sensex firms, ICICI Bank, State Bank of India, Axis Bank, Mahindra & Mahindra, Infosys, Larsen & Toubro, Tata Steel, Tata Consultancy Services, Bajaj Finance and Adani Ports were the major laggards. Asian Paints, Hindustan Unilever, UltraTech Cement, Sun Pharma and Reliance Industries were among the gainers.
Equity benchmark BSE Sensex tumbled nearly 700 points to sink below the 79,000 level on Tuesday, extending its losses for the second straight day due to selling pressure in HDFC Bank, SBI and ITC amid fresh foreign capital outflows. The 30-share BSE Sensex tumbled 692.89 points or 0.87 per cent to settle at 78,956.03. During the day, it tanked 759.54 points or 0.95 per cent to 78,889.38.
'The race is now on for Indian IT firms to develop their AI prowess and focus on a software-first approach to services as the people element becomes more complicated with Trump's expected new regulations.'
As the results season kicks in, the quarterly earnings numbers of several blue-chip firms -- such as Infosys and Reliance Industries -- along with global trends and trading activity of foreign investors, will determine equity market movement in the holiday-shortened week ahead, according to analysts. The domestic WPI inflation data for June -- scheduled to be announced on Monday -- will also influence trading sentiments, traders said. Markets will remain closed on Wednesday for Muharram.
Many investors want to exit equities now and re-enter when they begin to rise. Such timing is difficult to pull off.
In a bull-case scenario it sees the Sensex at 61,000 levels, while it's bear case scenario pegs the Sensex at 41,000 levels by December 2021.
Geopolitical events, macroeconomic data and quarterly earnings of corporates would guide the stock market in a holiday-shortened week ahead, analysts said. Stock markets will remain closed on Wednesday for Ram Navami. "This week promises to be crucial for the market as fresh worries about a potential conflict between Iran and Israel emerge.
Global trends, macroeconomic data announcements and the start of the earnings season would be the major drivers for the equity markets in a holiday-shortened week, analysts said. Equity markets will remain closed on Thursday for Eid-Ul-Fitr. Trading activity of foreign investors, rupee-dollar trends and crude oil prices would also guide trends in markets.
Dalal Street investors became richer by more than Rs 16.36 lakh crore this year as the equity market scaled new highs despite persistent geopolitical uncertainties and inflation worries. Analysts attributed better macroeconomic fundamentals, the confidence of retail investors and foreign investors investing again in the domestic equities towards the latter half of 2022 as the key factors that led to the outperformance of the Indian market in comparison to many other stock markets worldwide. During the initial part of the year, markets were jolted by the Russia-Ukraine war.
Investors should match their investment horizon with the fund's portfolio duration.
From the 30 Sensex firms, Mahindra & Mahindra, JSW Steel, Maruti, Tata Steel, Larsen & Toubro, ICICI Bank, Power Grid, Nestle, Bharti Airtel and Adani Ports were the biggest gainers. Tata Consultancy Services emerged as the only laggard.
Inflow in equity mutual funds halved to Rs 3,240 crore in May, declining for the second consecutive month, primarily due to profit booking by investors amid rising market. However, this was also the 27th consecutive month of inflow in the equity class, which was primarily driven by fund infusion in small-cap and mid-cap categories, data released by the Association of Mutual Funds in India (Amfi) showed on Friday. Overall, the 42-player mutual fund industry continues to see inflow and attracted Rs 57,420 crore, on contributions from debt-oriented schemes.
The Reserve Bank of India's interest rate decision, domestic macroeconomic data and global trends will dictate terms in the equity markets this week, analysts said. Trading activity of Foreign Portfolio Investors (FPIs) will also influence markets, they added. "The Indian market will be closely monitoring the Reserve Bank of India's Monetary Policy Committee (MPC) meeting scheduled for June 6-8, 2023. Aside from that, market participants will be keeping an eye on the progress of monsoon," said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Domestic institutional investors pumped Rs 2.3 trillion into equities during H1 CY24. Of this, mutual funds contributed 80%.
The rally in Indian mid-and smallcap indices thus far in calendar year 2024 (CY24) has been the best in class across the world, eclipsing the global FTSE benchmarks, and also out running peers from other leading world stock markets. This is despite the correction in the mid-and smallcap segments back home seen in the last few days, triggered by valuation concerns, geopolitical developments amid nervousness ahead of the July - September 2024 (Q2-FY25) corporate results season.
The sharp correction in the Indian markets from their peak levels has made valuations attractive, say analysts, who advise buying selectively, but only from a long-term perspective. Fifty-six of the Nifty 100 stocks, according to Mahesh Nandurkar, managing director at Jefferies, now trade below the 10-year historical averages, including stocks in financial, select auto, and pharma sectors. "Valuation (one-year forward consensus price-to-earnings, PE) has declined 25 per cent from October 2021 peak, almost matching the 33 per cent price-earnings contraction during the 2011 tightening cycle when repo rates went up by 375 basis points (bps) versus 250 bps this cycle.
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