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Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Macroeconomic data announcements, global trends and trading activity of foreign investors would guide momentum in the equity market this week, analysts said. Markets ended a five-week losing streak and gained nearly a per cent last week, helped by a sharp rebound on Friday. Last week, the BSE benchmark jumped 500.65 points or 0.77 per cent and the Nifty gained 169.5 points or 0.87 per cent.
BharatPe co-founder Ashneer Grover and his wife Madhuri Jain were stopped at the Delhi international airport following a look out circular issued against them in the alleged fraud at the fintech firm, sources said. The couple were to travel to New York late on Thursday for vacation when they were stopped at the airport on the basis of a look out circular issued by the Economic Offences Wing (EoW) of the Delhi police. EoW is investigating complaints of payments being made at BharatPe to fake human resource consultancies allegedly operated by Grover and family. They have also been accused of backdating invoices to use funds.
Among the Sensex stocks, Reliance Industries climbed the most by 3.11 per cent. Bajaj Finance, Titan, Axis Bank, ICICI Bank, Bajaj Finserv, IndusInd Bank, UltraTech Cement, Larsen & Toubro, HDFC Bank, HDFC and Kotak Mahindra Bank were among the other major winners. Power Grid, Hindustan Unilever, Tech Mahindra, Tata Consultancy Services, Infosys and Asian Paints were among the biggest laggards.
Global financial markets are not yet fully factoring in any escalation in the Israel-Palestine geopolitical conflict, said Christopher Wood, global head of equity strategy at Jefferies in his latest weekly note to investors, GREED & fear. The pertinent point about ongoing events in West Asia from a financial market perspective, according to him, is that, despite much talk about a pending ground invasion of Gaza, no such invasion has yet happened. "This is beginning to make GREED & fear wonder if it is ever going to happen.
Since their highs in September, chemical stocks have underperformed the benchmarks and broader indices over the past month with larger players witnessing a 9-22 per cent fall during this period. Expectations of weak September quarter results amid high inventory, demand woes and weak realisations have led to the underperformance.
From the Sensex pack, Reliance Industries jumped the most by 3.78 per cent. Tata Steel, Bharti Airtel, IndusInd Bank, Kotak Mahindra Bank, UltraTech Cement, ICICI Bank and Tata Motors were the other biggest gainers. Titan, HCL Technologies, Power Grid, Tata Consultancy Services, Wipro, Hindustan Unilever, Axis Bank and Nestle were among the major laggards.
Seven consecutive sessions of decline in the equity market has eroded the wealth of investors by a whopping Rs 10.42 lakh crore and the benchmark Sensex has tumbled more than 2,000 points during this period. Concerns over more rate hikes by developed economies, weak global equity markets and fresh foreign fund outflows from the domestic market have dented investor sentiments. On Monday, the BSE Sensex dropped 175.58 points or 0.30 per cent to end at 59,288.35 points, marking a decline for seven straight trading sessions.
Bajaj Finserv was the biggest gainer in the Sensex pack, rising 2.21 per cent, followed by Titan, ITC, Kotak Mahindra Bank, HDFC Bank, HDFC, Bajaj Finance, IndusInd Bank, ICICI Bank, HUL, Reliance Industries and Mahindra & Mahindra. Wipro, Tata Consultancy Services, Power Grid and Tech Mahindra were the laggards.
Mutual funds recorded Rs 7,600 crore net inflows into active equity schemes in July even as redemptions surged to a 30-month high of Rs 30,400 crore owing to profit booking, reveals data from the Association of Mutual Funds in India (Amfi). Equity net inflows were 13 per cent lower compared to the preceding month's tally. The inflows were supported by a strong flow from retail investors through the systematic investment plan (SIP) route.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
Among the Sensex firms, IndusInd Bank, Power Grid, Tata Motors, Bajaj Finance, NTPC, HDFC Bank, Reliance Industries, Nestle and Kotak Mahindra Bank were the major gainers. Infosys, State Bank of India, Tata Steel, Hindustan Unilever and Titan were the major laggards.
'Focus on 19,400/64,900 as the key resistance levels for the Nifty/Sensex.'
Among the Sensex firms, IndusInd Bank jumped 5.08 per cent. The other winners were Tata Motors, Bajaj Finance, Bajaj Finserv, NTPC, HCL Technologies, Mahindra & Mahindra, Axis Bank, Maruti and Kotak Mahindra Bank. Value buying in index heavyweights Reliance, HDFC Bank and ICICI Bank added to the momentum. Sun Pharma, Larsen & Toubro and Nestle were the laggards.
Deteriorating ties between India and Canada could have a bearing on flows into the domestic capital markets. At present, Canada is the seventh largest country for foreign portfolio investor (FPI) flows into India. According to the National Securities Depository Ltd (NSDL), the assets under custody (AUC) of FPIs domiciled in Canada stood at nearly Rs 1.8 trillion ($21 billion) at the end of August. Almost 85 per cent of these investments are in listed equity, while the remaining in debt and hybrid instruments.
The stock of Dixon Technologies (India), the country's largest listed electronic manufacturing services (EMS) player, was up 6 per cent in 10 trading sessions, boosting the gains over the last three months to 21 per cent. The gains came following reports that Dixon will produce laptops in India in partnership with US and Chinese firms under the production-linked investment (PLI) scheme. It recently signed an agreement to make smartphones for Xiaomi India.
Asian Paints dropped the most by 1.33 per cent. IndusInd bank fell 1.2 per cent, Axis Bank by 1.19 per cent, SBI by 1.12 per cent, Bajaj Finance by 1.07 per cent, Nestle by 1.04 per cent, and TCS by 0.97 per cent. Hindustan Unilever, Reliance Industries, Power Grid and Kotak Bank also retreated. Maruti Suzuki was the lead gainer, rising by 2.22 per cent.
Equity benchmark Sensex climbed over 460 points to reclaim the 61,000 mark while the Nifty closed above the 18k level on Friday, propelled by robust buying in index majors Reliance Industries and ITC amid fresh foreign fund inflows. Rallying for the fifth straight session, the 30-share BSE Sensex jumped 463.06 points or 0.76 per cent to settle at 61,112.44. During the day, it rallied 560.08 points or 0.92 per cent to 61,209.46.
Among the Sensex firms, ITC, State Bank of India, Bajaj Finance, NTPC, Power Grid, ICICI Bank, Kotak Mahindra Bank and UltraTech Cement were the major laggards. IndusInd Bank, Tata Consultancy Services, Axis Bank, Mahindra & Mahindra, Tata Motors, HCL Technologies, Asian Paints, Wipro, HDFC and Maruti were among the major gainers.
From the Sensex pack, Bharti Airtel fell 3.42 and Kotak Mahindra Bank declined 3.31 per cent. ICICI Bank, ITC, HDFC Bank, UltraTech Cement, HCL Technologies and Maruti were the other major laggards. Tata Motors, Hindustan Unilever, Asian Paints, Sun Pharma, Nestle, Tata Consultancy Services, Wipro, Bajaj Finance, Axis Bank and IndusInd Bank were among the gainers.
Analysts assert that Vedanta Group's plan to demerge India-listed Vedanta Limited into six listed entities will not resolve the debt problem of its promoter entity, Vedanta Resources (VRL). They suggest that additional asset sales or stake sales by promoters will be necessary to repay the debt. Vedanta is already considering the divestment of its iron-steel division and its copper plant.
From the Sensex pack, IndusInd Bank, Mahindra & Mahindra, PowerGrid and Bajaj Finserve gained up to 2.01 per cent. On the other hand, bellwether stocks such as ITC, Kotak Mahindra, Tech Mahindra and Reliance were the laggards. ITC shares closed the session with a loss of 3.87 per cent lower and Reliance ended 1.92 per cent lower.
Eight of the 10 most valued companies suffered a combined erosion of Rs 2,48,372.97 crore in their market valuation last week in line with a weak broader market trend, with Reliance Industries taking the biggest hit. Last week, Sensex lost 2,041.96 points or 3.72 per cent. While Reliance Industries, Tata Consultancy Services, HDFC Bank, Infosys, ICICI Bank, State Bank of India, HDFC and Bharti Airtel were the laggards, Hindustan Unilever Limited and Kotak Mahindra Bank emerged as gainers.
rediffGURU Nikunj Saraf suggests considering small-cap, mid-cap, and multi-cap mutual funds.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
From the Sensex pack, ITC, Titan, Asian Paints, Reliance, Tata Steel, Bajaj Finserv, Axis Bank, Hindustan Unilever, Infosys, Bajaj Finance, Nestle and ICICI Bank were the major gainers. Kotak Mahindra Bank, Mahindra & Mahindra, HCL Technologies, State Bank of India, Bharti Airtel and Tata Motors were among the laggards.
Days after JP Morgan announced the inclusion of government bonds in its emerging market (EM) bond index, a host of banks and other financial institutions (FIs) are set to tap the debt market. They plan to raise Rs 18,000 crore by issuing non-convertible debentures (NCDs) and bonds. National Bank for Agriculture and Rural Development (Nabard) plans to raise up to Rs 3,000 crore via five-year social impact bonds on Tuesday, the first of its kind in India.
rediffGURU Sunil Lala answers your MF-related queries.
Celeb-inspired ways to wear distressed jeans.
Among the Sensex firms, Reliance Industries, Maruti, Sun Pharma, State Bank of India, UltraTech Cement, Infosys, Kotak Mahindra Bank, Hindustan Unilever, ITC and HDFC Bank were the biggest gainers. Shares of Reliance Industries climbed 1.54 per cent, the most among the 30-share BSE constituents. Power Grid, Axis Bank, Mahindra & Mahindra and Tata Motors were among the major laggards.
Dixon Technologies right now is a beehive of activity. It is building a new facility in Noida to make 1.3 million laptops for Taiwanese PC maker Acer. The facility must be up and running in four months. The pace of activity will only increase. Last week Dixon won a similar contract from Lenovo, the Chinese personal computer maker and the third largest information technology (IT) hardware brand in India, to assemble laptops and notebooks. Though the clientele in these two cases is Taiwanese and Chinese, Dixon is a company reaching for the stars with its feet planted firmly in the Indian government's policy.
From the Sensex pack, Larsen & Toubro jumped 4.26 per cent to emerge as the biggest gainer, followed by IndusInd Bank, Tech Mahindra, State Bank of India, HCL Technologies, Power Grid, NTPC, Axis Bank, Kotak Mahindra Bank, HDFC Bank and Wipro. Mahindra & Mahindra, Infosys, UltraTech Cement and Hindustan Unilever were the major laggards.
Among the Sensex firms, Kotak Mahindra Bank, Asian Paints, Tata Consultancy Services, HCL Technologies, Infosys, Tata Steel, Wipro, Bajaj Finance, Tata Motors, Titan and Bajaj Finserv were the major laggards. In contrast, IndusInd Bank, ITC, Bharti Airtel, Maruti, UltraTech Cement, Mahindra & Mahindra and State Bank of India were the gainers.
From the Sensex pack, Nestle, Tata Steel, Tata Motors, Bharti Airtel, Larsen & Toubro, Power Grid, NTPC, Tata Consultancy Services, Tech Mahindra, Infosys and Axis Bank were the major gainers. Kotak Mahindra Bank, Maruti, Bajaj Finance, Mahindra & Mahindra and ICICI Bank were the laggards.
The rupee depreciated by 9 paise and settled at its all-time low level of 83.13 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency. Forex traders said the Indian rupee depreciated as the US dollar rose to the highest levels in six months. Moreover, elevated crude oil prices also weighed on rupee.
Among the Sensex firms, HDFC, HDFC Bank, Mahindra & Mahindra, Kotak Mahindra Bank, Bharti Airtel, Tata Motors, Reliance Industries and Maruti were the biggest laggards. Bajaj Finance, State Bank of India, NTPC, Hindustan Unilever, Titan, Infosys, Bajaj Finserv, Wipro, Asian Paints and Tata Consultancy Services were among the major gainers.
The Reserve Bank is planning to extend wholesale Central Bank Digital Currency (CBDC) for transactions for interbank borrowing or call money market, sources said on Tuesday. The pilot in the wholesale segment, known as the Digital Rupee -Wholesale (e-W), was launched on November 1, 2022, with the use case being limited to the settlement of secondary market transactions in government securities. "RBI is now planning to go into the interbank borrowing market.
