IPOs inherently carry more risks than stocks that have been listed on the exchanges for some time.
It is to be seen if SBI under Setty, who will have a three-year term, can ride the economic cycle to take SBI to new heights, navigating some of these challenges.
Experts believe FPIs will keep a close watch on coronavirus pandemic, its spread and likely impact on the economy while making decisions about investment into India.
Experts say you should be certain of living in a city and locality for a long time before purchasing a home.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
A meaningful correction in global oil prices and/or progress on key reforms would be important re-rating triggers for the Indian stock market, says Bharat Iyer, executive director and the head of India equity research at JPMorgan.
Foreign portfolio investors (FPIs) have pulled out Rs 4,515 crore from the equities segment in the first half of July as they turn cautious towards the Indian market. "With markets trading near all-time high, FPIs would have chosen to book profits. "They have also been staying on the sidelines given high valuations and most likely on the back of the risk of a potential third wave of the coronavirus pandemic," said Morningstar India associate director (manager research) Himanshu Srivastava. Though the continuing firmness in the dollar and the possibility of rising bond yields in the US do not augur well for capital flows into emerging markets like India, there is no immediate worry at the moment, he said.
The correction seen in the stock markets thus far is insufficient and there are significant downside risks, given the way macroeconomic data is shaping up, a Nomura equity strategist said on Thursday. "The markets are trying to look through the current stress we see in the macros. There are potential risks to the market. "Our estimates assume no major impact on growth and earnings. "The market should have been at least 5 per cent lower than it is now.
The market capitalisation of BSE-listed firms reached an all-time high of Rs 288.50 lakh crore on Wednesday amid an ongoing rally in equities, as the benchmark Sensex settled above 63,000-level for the first time ever. The 30-share BSE barometer climbed 417.81 points or 0.67 per cent to settle at 63,099.65, its fresh record closing high. During the day, the benchmark jumped 621.17 points or 0.99 per cent to 63,303.01, its lifetime intra-day peak. Extending its winning momentum to seventh day, the Sensex has rallied 1,954.81 points or 3.19 per cent during this time.
Investors' wealth fell by Rs 2.39 lakh crore on Monday in line with a weak trend in the global equity markets. The BSE Sensex tanked 861.25 points or 1.46 per cent to settle at 57,972.62. During the day, it tumbled 1,466.4 points or 2.49 per cent to 57,367.47.
Among Sensex firms, HDFC Bank climbed more than 2 per cent. TCS, Maruti, Infosys, Reliance Industries and Bharti Airtel were among the major gainers. State Bank of India, JSW Steel, ITC, Tata Motors, UltraTech Cement and Nestle were among the laggards.
Among the Sensex firms, Bajaj Finserv, Tata Motors, Asian Paints, ITC, IndusInd Bank, State Bank of India, Tata Steel, Wipro, Infosys and Maruti were the major gainers. Tech Mahindra, HCL Technologies, Kotak Mahindra Bank, Titan and Larsen & Toubro were the major laggards.
From the Sensex basket, Sun Pharma, Maruti, Power Grid, Titan, JSW Steel, Tech Mahindra, Larsen & Toubro and State Bank of India were the major laggards. Tata Motors, Tata Consultancy Services and Nestle were the gainers.
From the Sensex basket, Larsen & Toubro, Maruti, Reliance Industries, Nestle, Bharti Airtel, UltraTech Cement, Kotak Mahindra Bank and JSW Steel were among the major laggards. Bajaj Finance climbed nearly 1 per cent higher.
Among the Sensex firms, Tata Motors, Tata Consultancy Services, IndusInd Bank, Power Grid, Bharti Airtel, Sun Pharma, JSW Steel and Tata Steel were the major gainers. On the other hand, Bajaj Finance, State Bank of India, Bajaj Finserv, Axis Bank and NTPC were among the laggards.
A lot of mid and small-caps are in the bubble zone and command high valuation and have corrected sharply.
To minimise risk, invest in a debt fund whose duration matches your investment timeframe.
'People always short-change the resilience of the economy.'
Reliance Industries closed more than half a per cent higher after the company announced a proposed merger of media and entertainment assets of Viacom18 with Star India. Hindustan Unilever, Bharti Airtel, Tata Motors, ITC, Tech Mahindra and Axis Bank were among the laggards.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
'Many do not have robust business models, and their prospects of survival and long-term growth are poor.'
New Delhi-based pharmaceutical major Mankind Pharma is poised to take pole position in women's health portfolio in the India Pharma Market (IPM) after completing the Rs 13,630 crore deal to acquire Bharat Serums and Vaccines (BSV), senior company officials said. The deal potentially opens doors for Mankind Pharma to the overseas markets, which currently draws 92 per cent of its revenues from India. The combined entity will draw around 13 per cent revenues from the international market, with the remaining coming from the domestic market.
Mumbai-based developers Macrotech Developers (Lodha) and Oberoi Realty have emerged as top gainers among largecap realty stocks over the past month, with gains ranging from 29 per cent to 33 per cent. Strong ongoing sales trends in Mumbai's core market, record bookings in the January-March quarter, and healthy guidance for 2024-25 (FY25) have propelled these companies, which derive the majority of their revenues from India's financial capital.
Global equity research firm Standard & Poor's has projected a significant jump in the American Depository Receipts
From the Sensex basket, ITC, Kotak Mahindra Bank, Bharti Airtel, State Bank of India, Asian Paints, Tech Mahindra, Reliance Industries and Nestle were the major gainers. Maruti, HDFC Bank, Larsen & Toubro and Mahindra & Mahindra were among the laggards.
After eight months of consecutive outflows, equity mutual funds witnessed a net inflow of Rs 9,115 crore in March amid correction in the stock market. Barring multi-cap and value fund categories, all the equity schemes saw inflow last month, data from the Association of Mutual Funds in India (Amfi) showed on Thursday. However, investors pulled out Rs 52,528 crore from debt mutual funds last month, after investing Rs 1,735 crore in February, owing to advance tax payments and other year ending commitments. Overall, the mutual fund industry witnessed a net outflow of Rs 29,745 crore across all segments during the period under review, compared with a net inflow of Rs 4,090 crore in February.
Benchmark BSE Sensex rebounded sharply by 941 points while NSE Nifty closed above the 22,600 level on Monday on the back of buying in banking and infra shares and a global stocks rally. The 30-share BSE Sensex jumped 941.12 points or 1.28 per cent to settle at 74,671.28. During the day, it zoomed 990.99 points or 1.34 per cent to 74,721.15.
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There is positive correlation between crude oil prices and Indian equities and investors can expect more upside after the recent rally in Brent crude price.
Among the Sensex constituents, 18 stocks closed in negative with UltraTech Cement, L&T, Bharti Airtel, Bajaj Finance and Tech Mahindra being major laggards. Other heavyweights like Asian Paints, Maruti, Titan and JSW Steel also saw heavy selling. In contrast, Kotak Mahindra Bank, Bajaj Finserve, HDFC Bank, ITC and SBI bucked the trend and ended the session with a gain of up to 2.09 per cent.
In May, MFs were the net sellers in several PSUs, as they deployed Rs 47,600 crore in equities during the month.
Outflows are likely to continue, experts say, till such time as the markets see a significant correction.
JP Morgan's decision last week to include Indian government bonds in its Government Bond Index-Emerging Markets (GBI-EM) index and the index suite from June 2024 may be a sort of blessing for India, as the move is estimated to result in an inflow of $25 billion of foreign portfolio investments into the country. The development comes at a time when the spread between the benchmark 10-year government of India bond and the 10-year US government bond has declined to its lowest level in more than 17 years. Low yield spreads make Indian bonds less attractive to foreign portfolio investors (FPIs).
Foreign portfolio investors (FPIs) pulled out as much as Rs 17,537 crore from the Indian markets in just three trading sessions of March as investors' sentiment got dented by the uncertainty triggered by the Russia-Ukraine conflict and rising crude oil prices. As per depositories data, they pulled out Rs 14,721 crore from equities, Rs 2,808 crore from debt segment and Rs 9 crore from hybrid instruments between March 2-4. This took the total net outflow to Rs 17,537 crore.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
As milk prices rise, analysts have an optimistic view on dairy stocks such as Heritage Foods and Dodla Dairy, hoping the companies' margins will grow in the near to medium term. From a long-term perspective, they believe that a growing population, increasing disposable income and health consciousness will strengthen dairy consumption in India.
Despite the 3 per cent gain in September 2019, the FPI sell-off during the quarter has seen the benchmark indices - the S&P BSE Sensex and the Nifty 50 register negative returns in Q3CY19.
As the Indian equity markets scale a new high, the gap between stock prices and the underlying corporate earnings has widened to its highest level in more than 30 years. At its current level, the benchmark BSE Sensex has run up nearly 31 per cent more than the growth in its underlying earnings per share (EPS) in the past 20 years. Most of the divergence between share prices and underlying earnings growth occurred in the past 10 years.
From the Sensex basket, Bajaj Finance, Mahindra & Mahindra, HDFC Bank, JSW Steel, Maruti, Wipro, Bharti Airtel, Bajaj Finserv, ICICI Bank and ITC were the major gainers. Nestle India, HCL Technologies, Larsen & Toubro, Tata Consultancy Services, Tata Motors and Infosys were among the laggards.
India Inc's net profit as a percentage of the country's gross domestic product (GDP) is just shy of reaching 5 per cent, bolstered by strong earnings growth in the second quarter of 2023-24. Analysts interpret this as an indication that a corporate profit upcycle is in progress, with projections suggesting that this share could exceed 8 per cent within the next five years, driven by bullish earnings growth expectations. "We believe we are only halfway through a profit cycle, with the profit share in GDP rising from a low of 2 per cent in 2020 to about 5 per cent currently, and likely heading to 8 per cent in the coming four to five years. "This implies about 20 per cent compounding of earnings growth. "Underscoring this forecast is the start of a new private capex cycle, under-geared balance sheets, a healthy banking system, lower corporate tax rates, improving terms of trade, and structural consumption demand outlook albeit somewhat offset by likely consolidation in government deficit," said Ridham Desai, managing director, head of research, Morgan Stanley India in a note.
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