After a strong start to the week on Tuesday, the Sensex this morning opened 15 points higher at 16,868 amid subdued global cues.
The Sensex took less than two years to rally from the 10,000-mark it first hit in February 2006 to double that on that New Year's Eve.
In 2008, the 13 companies on the list accounted for 34 per cent of the overall m-cap.
The Q1FY24 earnings season has started on a dismal note for corporate India. The early-bird companies' revenue growth has been at a 10-quarter low, while the combined earnings of non-BFSI (banking, financial services, and insurance) companies seem to have hit the ceiling. The numbers suggest corporate India is entirely dependent on BFSI companies and the IT services sector to drive growth in revenue and profit while other sectors are showing signs of stagnation.
Market breadth turned negative with 1,779 declines over 884 advances on the BSE
Broader market outperformed the frontline indices with the Smallcap and Midcap gaining up to 1%
Quite a few large- and mid-cap stocks are yet to recover from the note ban, pharma, banking and rural demand-based industries among laggards.
Consumer goods, durables, automobiles worst hit.
Markets will be closed on Thursday and Friday on account of Holi and Good Friday, respectively.
Index heavyweights ITC was the top gainer along with RIL and HDFC
Ajit Mishra, vice president, Research, Religare Broking, answers your queries
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Licence winners are expected to be announced by the first quarter of 2014.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Top 5 losers include Infosys, TCS, ITC, M&M and HUL.
FIIs pump in Rs 2,075 crore in past three trading sessions.
Ajit Mishra, Vice President, Research, Religare Broking, answers readers's queries on stocks they own or want to buy.
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