E-sports experts say the burgeoning sector will not be affected by the Goods and Services Tax (GST) Council's recent decision to levy a blanket 28 per cent tax on online gaming, which is being viewed by the industry as a death blow to gaming companies.
The NSE Nifty too recovered over 100 points, or 0.96 per cent, to end at 10,576.85.
The S&P BSE Small-cap index has recovered 26 per cent as compared to a 23 per cent rise in the S&P BSE Sensex.
TCS, HDFC Bank, Hindustan Unilever Limited (HUL), HDFC, Infosys, ITC, Kotak Mahindra Bank, ICICI Bank and SBI closed the week with losses.
Strong MF investments, stemming of FII outflows and positive earnings in Q3 have helped market, say analysts.
Gold demand in India, the world's largest importer, has risen in the past few days and its buying is likely to intensify this week with a fall in prices after US troops raided Baghdad on Monday, traders said.
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
The market last tumbled 10% or more in December 2016 following demonetisation. The decline was followed by a sharp rebound. This time the chances of such a v-shaped recovery are less.
Funding winter and corporate governance woes separated the men from the boys in the country's startup space in 2023 that saw funds into the segment tapering to just around $8 billion. All said, investors are hopeful of strong growth of the maturing startup ecosystem in the new year. Edtech and health tech segments that grew exponentially during the pandemic plunged into an abyss of financial uncertainties, with several firms shuttering their business, and valuation of prominent players like BYJU'S and PharmEasy plummeting 85-90 per cent.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
Banking stocks led by SBI, ICICI Bank, Bank of Baroda, PNB, Kotak Bank, HDFC Bank, Axis Bank, Federal Bank and Yes Bank fell as much as 2.77 per cent.
IndusInd Bank was the top loser in the Sensex pack, shedding over 3 per cent, followed by HUL, ONGC, ICICI Bank, Axis Bank, Kotak Bank, M&M and Tech Mahindra. NSE Nifty tumbled 154.25 points to 14,696.50.
Key stock indices Sensex and Nifty declined over 1 per cent at close on Monday due to heavy selling in banking, auto and FMCG shares amid weak global market trends and continued foreign fund outflows. Reversing its previous session's gains, benchmark BSE Sensex tumbled 638.11 points or 1.11 per cent to settle at 56,788.81. During the day, it tanked 743.52 points or 1.29 per cent to 56,683.40. The broader NSE Nifty fell by 207 points or 1.21 per cent to end at 16,887.35 as 42 of its constituents declined.
RIL saw its market value plummet by Rs 20,303 cr, taking the steepest hit in the top-10 list
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
The maximum fall on total market valuation will be in Mumbai (Rs 2,00,330 crore) followed by Bangalore (Rs 99,983 crore) and Gurgaon (Rs 79,059 crore).
Tech Mahindra was the top gainer in the Sensex pack, jumping over 5 per cent, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, L&T, Tata Steel and Infosys. NSE Nifty surged 191.95 points to 15,824.05.
The trend was visible in the early trade on Thursday as investors indulged in trimming their bets after the minutes of the US Federal Reserve's September meeting indicated a possible rate hike this year.
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
The rupee plunged 20 paise to close at an all-time low of 78.13 against the US dollar on Monday, as a lacklustre trend in domestic equities and stronger greenback overseas weighed on investor sentiments. Forex traders said weak Asian currencies and persistent foreign capital outflows were the other major factors that dragged the local unit down. At the interbank foreign exchange market, the local currency opened at 78.20 and witnessed an intra-day high of 78.02 and a low of 78.29 against the US dollar.
TCS took the steepest hit among the top-10 firms as its m-cap plunged Rs 17,334 cr
HDFC worst hit with Rs 9,177 cr erosion; Sun Pharma only firm to have come out a gainer
Street gave a thumbs down to Aditya Birla Fashion and Retail (ABFRL)-TCNS Clothing deal as analysts flagged near-term profitability risks for ABFRL with its latest acquisition. At the bourses, shares of the Aditya Birla group company tumbled 6.2 per cent in the intra-day trade, before settling 3.27 per cent lower at R 207.2. Those of TCNS, meanwhile, plunged 20 per cent to end at Rs 416.64.
From the 30-share basket, 28 scrips suffered losses. Over 200 stocks were at their 52-week low in Tuesday's trade.
India is Asia's third-best performing equity market.
The Indian markets achieved another milestone on Friday. The Sensex conquered the 19,000-mark. The Sensex exhibited high volatility in early trades. After opening with a positive gap of 53 points at 18,824, the index tumbled into red to a low of 18,630. The index rebounded sharply and rallied to a high of 19,047 -- up 417 points from the day's low.
The broader markets also ended lower in line with the benchmark indices
One should not time the market before investing
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
Benchmark indices finished higher on hopes of economic reforms
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
Sensex heavyweight Reliance Industries fell 2.76 per cent. In percentage terms, major laggards were Yes Bank, Indusind Bank, RIL, ICICI Bank, HDFC and Axis Bank -- plunging as much as 6.62 per cent.
The Indian rupee today dipped to a two-year low of 46 against the US dollar following heavy demand from importers for the greenback.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
The dream-run in railway stocks may soon run out of steam, caution analysts. The rally, which has lasted nearly a year, may meet time-wise correction post the Union Budget announcements as investors begin scalping profits. "There is going to be a build-up in expectations for the sector from the Union Budget, which is still two-odd months away.
