After the massive sell-off since October, foreign portfolio investors (FPIs) are no longer the biggest non-promoter-shareholders in top Indian companies. This has happened for the first time in over a decade. "At 25.6 per cent ownership of India's largest 75 companies, domestic investors are now larger holders than FPIs for the first time since 2010," said Morgan Stanley strategists Ridham Desai, Sheela Rathi and Nayant Parekh in a note.
The global turmoil in the banking sector has made analysts cautious, who advise that investors stay away from stocks of this sector till the overall sentiment improves. The recent trouble for the banking sector started with the collapse of US-based Silicon Valley Bank (SVB), Silvergate Capital and Signature Bank. On its part, Moody's Investors Service has also cut its outlook for the US banking system to 'negative' from 'stable', citing the run on deposits at these three banks that led to the collapse of these banking majors in less than a week.
Union Home Minister Amit Shah on Tuesday said if the Congress comes to power in Karnataka, dynastic politics will be at an all-time high in the state and it will be 'afflicted with riots'.
'For the politics of patronage in West Bengal, it has always been important to have territorial control.'
The domestic benchmark indices - the S&P BSE Sensex and the National Stock Exchange Nifty50 - had lost close to 1.5 per cent in three days recently before gaining slightly. Notwithstanding weakness and volatility, the Nifty50 has managed to hold on to the 18,000 mark, while the Sensex has managed to stay above the 61,000 level. The performance of the stocks that comprise these front-line indices remains polarised.
With the Nifty50 just about 3 per cent away from its all-time closing high of 18,812 points, analysts at BofA Securities suggest investors book profit. Their reasons for the advice include risks like the possibility of a cut in corporate earnings growth forecasts, high valuation (one-year forward P/E of 19.5x), interest rates staying elevated for longer-than-expected and credit tightening. Going ahead, they expect the Nifty50 index to drop to 16,000 levels - down nearly 12 per cent from the current level of 18,255 points, which they believe would be a good time to buy.
Elevated food price-led inflation could become a sore point for markets, which they seem to be ignoring at current levels, observe analysts. Retail inflation in India - as measured by the Consumer Price Index (CPI) - came in at a three-month high of 6.52 per cent in January 2023, compared with 5.72 per cent in December and 5.88 per cent in November 2022. The inflation print for February, according to Madan Sabnavis, chief economist at Bank of Baroda, will be critical for the Reserve Bank of India's monetary policy committee.
The stellar rise in corporate earnings in financial year 2021-22 (FY21) and FY22 did not result in a corresponding boom in capital expenditure (capex), with listed companies' investment in fixed assets rising just 2.3 per cent year-on-year (YoY) in FY22, growing at the slowest pace in the last six years. In comparison, the firms' combined net profit jumped 63.5 per cent YoY in FY22, while net sales increased 31.1 per cent - the fastest pace in over a decade. The 955 non-financial companies in Business Standard's sample reported combined net profit of Rs 7.18 trillion in FY22, compared with Rs 4.39 trillion in FY21 and Rs 2.59 trillion in FY20.
Sources said while the Congress units of Madhya Pradesh and Rajasthan will hold separate discussions on May 26 on their preparations and actions to be taken, the party will also hold strategy meets on Chhattisgarh on May 27.
Top Congress leaders are learnt to be discussing the current political situation.
Foreign investors pumped in Rs 11,119 crore in the Indian equities in December, making it the second consecutive monthly inflow, despite increasing concerns over the re-emergence of Covid-19 cases in some parts of the world. However, foreign portfolio investors (FPIs) have turned cautious in recent days. The inflow in December was much lower compared to Rs 36,239 crore invested by FPIs in the month of November, data with the depositories showed.
From the voter-level, traditionally anti-BJP, anti-Hindutva minorities and other secular voters would have an option, especially in the face of the mounting anti-incumbency against the ruling party -- as it happened in the 2001 assembly polls, points out N Sathiya Moorthy.
The Congress needs to reorganise itself at the grassroots, infuse younger blood, and have more boots on the ground. Just offering freebies is not the answer anymore. Leadership matters, asserts Ramesh Menon.
Benchmark indices continued to rally for the third day running on Friday with the Sensex climbing 619 points in early trade to reclaim the 57,000 level. The 30-share BSE benchmark jumped 619.27 points to 57,477.06. The broader NSE Nifty advanced 189.15 points to 17,118.75.
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
Equity benchmark Sensex gained 37 points on Thursday, tracking gains in index majors Kotak Bank, L&T and Bharti Airtel amid a largely negative trend in global markets. After a largely choppy session, the 30-share BSE index ended 37.87 points or 0.06 per cent higher at 60,298 after starting the trade on a weak note. During the day, it hit a high of 60,341.41 and a low of 59,946.44.
The 48-year-old has previously also worked with Chelsea FC, one of the top clubs in Europe; he has also played an important role in fine-tuning the Chelsea squads that won the UEFA Champions League in the 2011-12 and 2020-21 seasons.
Notwithstanding sharp volatility in March, mutual fund (MF) investors didn't fight shy of investing in riskier small-cap-oriented schemes. Inflows into small-cap funds were not just the highest in absolute terms, they were also the maximum as a proportion of assets under management (AUM) among all market capitalisation (m-cap)-oriented categories. Investors funnelled Rs 2,430 crore down small-cap funds - 1.8 per cent of their AUM of Rs 1.33 trillion.
Influenced by ads like 'Make money sitting at home', 'Make Rs 10 lakh with just Rs 1,000', to YouTube influencers promoting 'pump-and-dump' stocks, a vast majority of small investors who mushroomed during the COVID-19 period are losing money in reckless overtrading in the market, cautions Dr V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services.
'All they need is proper leadership.'
By 2026, around 25 per cent of the global population may spend at least an hour a day on Metaverse. This will open the doors for many businesses, the NFTs market will spread, and Web 3.0 will attract more investment.
Equity benchmark Sensex extended its winning run to the fourth day running on Monday and reclaimed the 58,000-level, tracking firm global trends and fresh foreign fund inflows. Buying in index major Reliance Industries added to the momentum. The 30-share BSE benchmark climbed 545.25 points or 0.95 per cent to settle at 58,115.50. During the day, it jumped 600.42 points or 1 per cent to 58,170.67. The broader NSE Nifty advanced 181.80 points or 1.06 per cent to 17,340.05.
Benchmark indices gained for the third day running on Friday, with the Sensex climbing over 300 points amid mixed global market trends. The 30-share BSE benchmark advanced 303.38 points or 0.56 per cent to settle at 54,481.84. During the day, it jumped 448.68 points or 0.82 per cent to 54,627.14. The broader NSE Nifty went higher by 87.70 points or 0.54 per cent to end at 16,220.60.
'According to the survey, ideological issues like Article 370 and Ayodhya received only 14 and 12 per cent voter-backing, respectively.' 'It could well imply that hardline Hindutva issues have only that much voter-purchase, compared to Modi's overall popularity of 52 per cent -- putting the man way above the mission,' points out N Sathiya Moorthy.
With the assembly polls only two years away, in 2026, any demoralising defeat in 2024, would challenge not only the party's continued relevance but also EPS's leadership, asserts N Sathiya Moorthy.
Retail inflation fell to a 15-month low of 5.66 per cent in March, mainly due to a decline in food prices, government data showed on Wednesday. The inflation figure in March is within the RBI's comfort zone as it is below 6 per cent. The retail inflation based on Consumer Price Index (CPI) was 6.44 per cent in February 2023 and 6.95 per cent in the year-ago period.
Market benchmark BSE Sensex rallied 635 points to 59,942 in the opening trade of the special Muhurat session on Monday to mark the beginning of Hindu Samvat year 2079. The 30-share index was trading higher by 635.12 points, or 1.07 per cent, at 59,942.27 in the first few minutes of trade. Similarly, the broader NSE Nifty surged 192.20 points or 1.09 per cent to 17,768.50.
Equity benchmark BSE Sensex closed at an all-time high of 62,272.68 on Thursday, tracking a firm trend in global markets after the US Fed minutes indicated a slower pace of rate increase that bolstered investors' sentiment. Extending its rally to the third straight day, the 30-share BSE benchmark rallied 762.10 points or 1.24 per cent to settle at 62,272.68, its record closing peak. During the day, it jumped 901.75 points or 1.46 per cent to its lifetime high of 62,412.33.he broader NSE Nifty gained 216.85 points or 1.19 per cent to end at 18,484.10.
The bull run in the Indian equity markets is intact, said analysts at Morgan Stanley in a recent note. They expect the S&P BSE Sensex to hit 80,000 levels by December 2023 in their bull-case scenario, to which they have assigned a 30 per cent probability. From the current level, this translates into an upside of nearly 29 per cent.
'Oommen Chandy always had time for his people and valued their voices.' 'There was no rest for him as long as the betterment of his fellow citizens was at stake.' Ambassador Venu Rajamony, who knew the former Kerala chief minister for half a century, salutes a beloved leader who worked tirelessly for the welfare of its people.
AIADMK insiders see the very idea of an NDA conclave as a measure of the BJP's current electoral assessment, stemming from relative weakness in 2024 compared to 2014 and 2019. In their reckoning, the BJP now needs allies more than the other way round, observes N Sathiya Moorthy.
Emerging markets such as India have always run higher inflation rates than developed economies such as the US and countries of Western Europe. But for the first time in the past 30 years, the US reported a higher consumer price inflation (CPI) rate than India in five consecutive months. The US reported a CPI rate of 7.5 per cent in January 2022 against 6.01 per cent in India and analysts expect the trend to continue for at least a few months more
'In the overall global portfolio, India's weighting has come down in the past seven months.'
The early bird results for the January-March 2022 quarter (Q4FY22) hint at a slowdown in corporate sector growth in the upcoming quarters. The combined net sales of the 81 early bird companies in the Business Standard sample were up 15.1 per cent year-on-year in Q4FY22; this was less than the 15.9 per cent YoY jump reported in Q3FY22. The slowdown could be much stronger for the domestic market-focused companies, including those in the banking, finance, and insurance (BFSI) space.
Modi said the state election results "give a glimpse" of the outcome of the general elections of 2024.
Vellore is one of the two seats that the DMK alliance won by the narrowest of margins in 2019. For the DMK's vote-score to be so low in a constituency with a substantial Muslim population has not missed the BJP strategists' eyes, observes N Sathiya Moorthy.
There is, between Rao's tenure as PM and the current Modi regime, a powerful resonance of how transition can be managed. Rao's tenure saw many scams -- one where he was supposedly approached by Harshad Mehta with a bribe for making the securities scam go away. The Opposition insisted on a JPC. Despite knowing a JPC report would undermine him politically, Rao agreed to one, saying he had 'nothing to hide'.
While Governor Ravi's speeches have put the local BJP supporters on the defensive in matters of religion and social justice, his add-on 'attack on the constitutional scheme' in the 'Senthil Balaji case', has been condemned squarely by many legal experts and editorial writers across the country, thus adding weight to CM Stalin's position -- at least until the courts come up with their binding views, observes N Sathiya Moorthy.
These unicorns, or startups valued at over USD 1 billion, are across industries, beyond technology and tech-enabled sectors as well, like pharmaceuticals, and consumer goods, Credit Suisse India equity strategist Neelkanth Mishra told reporters in Mumbai.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
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