Market experts believe the retreat is because of uncertainty.
It is useful to note that Indian markets have not gone into a tailspin as the Greece crisis has developed, says Devangshu Datta.
TVS Motor Company has been one of the best-performing two-wheeler stocks in the current financial year (FY24), enriching investors with gains of 24 per cent. Among listed two-wheeler stocks, only Hero MotoCorp has done better in this period. New launches, market share gains, steady margins and expectations that its performance will continue in FY24 are expected to support TVS Motor's stock.
'Q1 is going to bear the brunt of the second wave, exposing full-year GDP forecasts to downward revisions, unless phase-3 of vaccination is executed quickly.'
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
Indian Railways has managed to improve its freight volumes each year since the pandemic. However, its inability to add new industries and goods will pose a challenge for the national transporter in the wake of it setting an ambitious target of 45 per cent share in the national logistics by 2030. According to officials, the ministry of railways achieved 114 million tonnes (mt) of miscellaneous goods (classified as balance and other goods) in 2023-24.
India remains one of the most over-owned market in Asia.
Top companies in China are valued at 7.7 times the trailing 12-month earnings against a P/E ratio of 18.6 times for Nifty 50 companies.
Spot gold fell as far as $1,142.10 an ounce on Thursday, its lowest since November 2014.
The home loan top-up, a kind of secured multipurpose personal loan, is on the regulator's radar, points out Tamal Bandyopadhyay.
Experts expect the trend to continue in the near term.
Most rate-sensitive stocks ended on a negative note, with BSE auto, bankex, finance and realty indices cracking up to 2.10 per cent.
Markets across the globe gained after China Securities Regulator removed its four-day-old circuit-breaker system.
Bolstered by an impressive performance in the global specialty business and outstanding results in the Indian market, Sun Pharmaceutical Industries, the largest pharmaceutical (pharma) company in the country, showcased a strong performance in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24).
'Investors should focus on largecap funds, flexicap funds, business cycle funds, or hybrid-category funds.'
Investors took the Yes Bank event negatively because it raises a question on the stability of the overall Indian financial system.
Banks, the biggest component of the Indian equity market, are now trading at a big discount to the benchmark indicesThe BSE Bankex index, which tracks the share price of the 10 top listed banks, is trading at a trailing price to earnings (P/E) multiple of 15.3X, nearly a 40 per cent discount to the BSE Sensex current P/E of 24.37X. This is the biggest valuation gap between the two indices in at least 10 years. Similarly, the BSE Bankex price to book ratio (P/B) of 2.22X is 40 per cent lower than the current Sensex P/B ratio of 3.61X.
TCS is the most valued Indian company.
Only 21 tonnes of gold have been mobilised in the last eight years under the gold monetisation scheme (GMS) which was announced by the Government of India in November 2015. This could be considered as a failure as the scheme has undergone several changes with a revamped GMS announced in April 2021 to improve collections. This figure was released by the World Gold Council (WGC) on Wednesday in its report titled 'Gold Investment Market and Financialisation, in India gold market series'.
The IT industry advisories show that they think they've weathered the worst, observes Devangshu Datta.
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
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.
Sensex gained over 100 points and ended at 26147.33 while the Nifty ended 27 points higher at 7,795.75.
Domestic mutual funds (MFs) and foreign portfolio investors (FPIs) have been net buyers of stocks in August. Domestic fund houses have continued to invest in stocks, propelled by the success of various new fund offers (NFOs) and strong flows into equity funds. MFs had purchased stocks worth more than Rs 8,300 crore until August 23, according to the data provided on the Securities and Exchange Board of India (Sebi) website. Jimmy Patel, MD and CEO at Quantum AMC, says: "The surge in equity investments by MFs is because of two key reasons. One, equity NFOs are getting a strong response from investors, and fund houses need to deploy that money in the markets.
Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector. The Nifty IT index settled 0.9 per cent lower on Friday, as against a 0.9 per cent rise in the Nifty50 index. According to analysts at ICICI Securities, Accenture's Q3 saw moderation in year-on-year growth rate across verticals and US regions, which signals at likely normalisation in revenue momentum for Indian IT services going forward.
Invest in stocks of export-oriented and capital-intensive companies, says Devangshu Datta.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Markets in green tracking firm global cues.
Dream rally: Investors' wealth doubled in 5 years in India's equity market on Friday.
After three consecutive years of infusing huge funds, foreign portfolio investors retreated from the Indian equity markets in a big way in 2022 with the highest-ever yearly net outflow of nearly Rs 1.21 lakh crore. The huge outflow, which surpasses by a big margin the previous record of Rs 53,000 crore net withdrawal in 2008, came amid aggressive rate hikes by central banks globally but 2023 is expected to be better on positivity about overall macroeconomic trends in India, experts said. Apart from global monetary tightening, volatile crude, rising commodity prices along with Russia and Ukraine conflict led to an exodus of foreign money in 2022.
Since its results, the stock of bottling and beverage distribution company Varun Beverages (VBL) is up 7 per cent on the back of a strong 2022-23 January-March quarter performance, robust outlook, and revision in profit estimates. Given the sharp uptick, it is now part of the trillion-rupee club, with its market capitalisation at Rs 1.01 trillion. The stock is one of the best performers in the consumer space as well as the S&P BSE 200, of which it is a constituent.
PowerGrid was the top gainer in the Sensex pack, spurting 2.76 per cent, followed by NTPC, M&M, L&T, Hindustan Unilever, HDFC, and Infosys.
Sensex to end this year at 27,500 and reach 29,000 by mid 2016.
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
In the Sensex pack, IndusInd Bank was the top gainer, soaring around 8 per cent, followed by Bajaj Finance, Axis Bank, PowerGrid, ONGC, ICICI Bank, Sun Pharma and M&M.
Infosys, Wipro and HUL among the top losers for the day.
Benchmark indices Sensex and Nifty slid for a seventh straight session on Monday, logging their longest losing run in the past five months, following a bearish trend in global markets amid concerns over aggressive rate hikes by developed economies. Fresh foreign fund outflows and losses in IT, auto and oil stocks also dented investor sentiments. The BSE Sensex declined by 175.58 points or 0.30 per cent to close at 59,288.35 with 17 of its shares posting losses.
Corporate margins and profits in India remain vulnerable to changes in crude oil prices in the international market. Historical quarterly data from listed companies (excluding banks, finance and insurance, oil and gas, and power sectors) indicate an adverse correlation between corporate margins and crude oil prices.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
The gap between the highs and the lows in April for the benchmark S&P BSE Sensex was just 4.1 per cent - the narrowest since July 2021 and nearly half its three-year average. The absence of major positive triggers, sectoral rotation, and cautiousness due to earnings and economic uncertainty have kept a tight leash on the markets, observe experts. Remarkably enough, during the 17 trading sessions in April, the Sensex didn't even log an advance or a decline of more than 1 per cent.
