A host of macroeconomic data announcements, the last batch of September quarter earnings, global trends, and trading activity of foreign investors will be the major driving factors for the equity market this week, according to analysts. Equity markets would remain closed on Friday for Guru Nanak Jayanti. "India is set to release CPI and IIP data on November 12, with WPI data expected on November 14.
'Additionally, the significant employment multiplier will boost direct and indirect jobs of up to 1.1 million.'
The week's losses wiped out investor wealth worth Rs 18.43 trillion, with the total market capitalisation of BSE-listed firms now at Rs 441 trillion.
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.
Prime Minister Narendra Modi on Friday received Bhutan's highest civilian award, the 'Order of the Druk Gyalpo', making him the first foreign Head of the Government to receive the honour.
Dalal Street had a roller coaster ride in 2024 from shattering record after record to facing heavy correction off-late but equity markets still rewarded investors with positive returns, driven by a surge in domestic fund flows and a resilient macro landscape. The first half of the year saw robust corporate earnings, a surge in domestic flows, and a resilient macro landscape, driving the Nifty to an all-time high of 26,277.35 in September 2024, according to Motilal Oswal Wealth Management.
Equity benchmark indices Sensex and Nifty settled higher on Thursday, powered by a rally in banking and power stocks amid a largely firm trend in global markets. The stock markets mostly traded range-bound in the absence of any major trigger and persistent foreign capital outflows, traders said. The 30-share BSE Sensex rose 144.31 points, or 0.18 per cent, to settle at 81,611.41.
Tata Steel, Bajaj Finance, Mahindra & Mahindra, JSW Steel, NTPC, Adani Ports, Bajaj Finserv and Larsen & Toubro were also among the laggards. However, Power Grid, HCL Technologies, Infosys, Tech Mahindra, Tata Consultancy Services and ICICI Bank were among the gainers.
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
Among the Sensex firms, Bajaj Finance jumped the most by 4.64 per cent. Bajaj Finserv, Kotak Mahindra Bank, Asian Paints, UltraTech Cement, ICICI Bank, NTPC, JSW Steel and Tata Steel were among the major gainers. Infosys, Mahindra & Mahindra, Wipro, Tata Consultancy Services, IndusInd Bank and HCL Technologies were the major laggards.
What stood out in his 15-year journey as a member of the political executive at the Centre was his glowing record as India's most successful and effective finance minister. Both as prime minister and finance minister, he understood the importance of gradualism, except when the economy or the polity was in a crisis.
President Droupadi Murmu on Saturday approved 139 Padma awards including seven Padma Vibhushans, 19 Padma Bhushans and 113 Padma Shris.
'When compared to many of America's treaty allies in Asia, Modi 3.0 is on a much stronger footing.'
All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
From the 30 Sensex firms, Tata Consultancy Services and HCL Technologies dropped over 3 per cent each. Infosys, Tech Mahindra, Sun Pharma and Tata Motors were the other major laggards. Bajaj Finance, Bajaj Finserv, Nestle, HDFC Bank, ICICI Bank and State Bank of India were among the biggest gainers.
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
Macroeconomic data announcements, the last batch of Q1 earnings and global trends are the major factors that would influence trading sentiments in the equity market in a holiday-shortened week ahead, analysts said. Besides, trading activity of foreign investors would also be a crucial factor in dictating movement in the market. Equity markets would remain closed on Thursday for Independence Day.
The US Federal Reserve's interest rate decision is the biggest event that would drive sentiments in the domestic stock market this week, besides a host of macroeconomic data from the global front and trading activity of foreign investors, analysts said. The Indian equity market had an exceptional last week, with both the Nifty and Sensex hitting their all-time high levels on Thursday.
'Israel would make Iran and its proxies pay. They, along with Qatar, fund terror all over the world.'
Nearly 90 per cent of the stocks comprising the National Stock Exchange Nifty 500 Index and 49 of the 50 stocks that make up the Nifty50 are trading above their respective 200-day moving averages (DMAs). The 200-DMA is considered one of the most relevant trend indicators by investors and traders. They believe that stocks and indices trading above this key level exhibit strength and are likely to rally, while those trading below this level are viewed as bearish, with the stock/index expected to see a selloff.
Quarterly earnings of corporates, trading activity of foreign investors and inflation data are the key factors that are expected to drive the momentum in the equity markets this week, analysts said.
Investors' wealth eroded by Rs 9.51 lakh crore on Monday morning, following a crash in equity markets where the benchmark Sensex tanked over 2,400 points, mirroring a sharp plunge in global peers. The 30-share BSE benchmark tanked 2,401.49 points to 78,580.46 in early trade. Following the sharp decline in equities, the market capitalisation of BSE-listed firms dropped by Rs 9,51,771.37 crore to Rs 4,47,65,174.76 crore ($5.35 trillion) during the morning trade.
Bibek Debroy was one of the very few economists not bound by any single area of expertise and was simultaneously curious about economics and politics, myths and maths, chess and chemistry, and what not, remembers Laveesh Bhandari.
Gautam Adani, India's second-richest man, and seven others including his nephew Sagar have been charged with paying bribes to unidentified officials of state governments in Andhra Pradesh and Odisha to buy expensive solar power, potentially earning more than $2 billion profit over 20 years.
Global factors and FII activity will dictate trends in domestic equity markets this week while assembly poll results of Maharashtra and Jharkhand may impact stocks on Monday, say analysts. Stock markets witnessed a spirited recovery on Friday with benchmark Sensex and Nifty notching the best single-day gains in more than five months and offering relief after weeks of correction.
From the 30 Sensex firms, Larsen & Toubro, Reliance Industries, Axis Bank, Asian Paints, Tata Motors, Bajaj Finance, Maruti, Bajaj Finserv, Kotak Mahindra Bank, Titan, Adani Ports and HDFC Bank were the major laggards. JSW Steel emerged as the only gainer.
Benchmark indices Sensex and Nifty declined in early trade on Wednesday due to selling in financials, oil and IT stocks amid weak global trends.
Why can't the Indian government propose to the Chinese a corridor circumambulating the Holy Mountain where people from both sides could perform the yatra again? asks Claude Arpi.
Alert: Master's in International Business Programme, 2005-2007, at the Gandhi Institute of Technology and Management's Institute of Foreign Trade (GIFT).
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.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
Calling Canada's behaviour 'the pits', India's recalled high commissioner Sanjay Verma says India was backstabbed and treated in a most unprofessional manner by a country that is supposed to be a friendly democracy.
Semiconductor makers need thousands of engineers and technicians, and though India has one of the largest pool of engineers in the world, they do not have experience in the semiconductor manufacturing space.
Benchmark BSE Sensex gained 130 points on Friday after gains in index majors Reliance Industries, ICICI Bank and Tata Steel ahead of the release of inflation and factory output data. Recovering from its early losses, the 30-share BSE index ended 130.18 points or 0.22 per cent higher at 59,462.78 in a range-bound trade. The broader NSE Nifty advanced 39.15 points or 0.22 per cent to close at 17,698.15.
Nestle, Infosys, ICICI Bank, Tata Motors, Tata Consultancy Services, HCL Technologies, Tech Mahindra and Axis Bank were the other major winners. Sun Pharma, Asian Paints, Bajaj Finance and Titan were the laggards.
The Indian equity markets have significantly increased in importance within the emerging market (EM) basket of stocks in recent years. Since 2018, India's weighting in the Morgan Stanley Capital International (MSCI) EM Index - tracked by passive funds with assets of nearly $500 billion - has doubled, while the number of domestic stocks has grown by almost 70 per cent.
'Trump's disregard for norms and institutions could prove very costly for America's social fabric.'
As regards mid-caps and small-caps, analysts suggest investors buy only those stocks of those companies where there is earnings visibility for at least a few quarters and where the valuations have become reasonable.
India and Canada have mutually beneficial political and economic linkages. The two countries should get together and find a solution. The expulsion war should, in the meantime, be a guarantee against any deterioration of the situation, asserts Ambassador T P Sreenivasan, the first Indian head of mission to be ever expelled by any country.
In an online chat with readers on November 21, expert Naveenan Ramachandran of 2IIM addressed reader queries related to cracking the IIFT exam. The exam is scheduled on November 27, 2011, Sunday. For those who missed the live chat, here's the unedited transcript.
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