Amid imminent phasing out of the fiscal stimulus by US Federal Reserve, Prime Minister Manmohan Singh on Wednesday called for an "orderly exit" from unconventional monetary policies being pursued by the developed world for the last few years to avoid damaging growth prospects of the developing world.
The engineering and construction (E&C) sector delivered an excellent performance in the last two financial years (FY2021-22 or FY22 and FY23's nine-months) and there's reason to believe that FY24 will also see outperformance. The sector has emerged from the pandemic with stronger balance sheets and more rational cost structures. It has a big order book and it should see new order flows accelerate in FY24.
Retail investors may burn their fingers investing in them, especially if the markets correct, experts tell Sanjay Kumar Singh
The primary market has seen hectic fundraising activity in April-November 2021, with 75 companies garnering Rs 89,066 crore through their IPOs, much higher than in any year in the last decade, Economic Survey showed on Monday. Moreover, a flurry of technology startups made their public debuts during the period. In comparison, 29 companies raised Rs 14,733 crore through initial public offerings (IPOs) during April-November 2020.
Gains in financial shares capped further downslide.
The session was marked by volatility and stock-specific action, even as the overall sentiment remains risk-averse, brokers said.
Experts tell Ujjval Jauhari that investors need to be careful in picking stocks given high valuations and with markets possibly ignoring potential risks
'The minimum holding period for equities should be three years.' 'Try goal-based investing.' 'Link your equity portfolios to specific goals such as retirement, purchase of a house or car...'
The BSE Sensex spurted 130.00 points to end at 35,980.93, while the broader NSE Nifty advanced 30.35 points to 10,802.15.
Monsoon session of Parliament expected to be stormy and likelihood of GST Bill and Land Bill getting passed are slim
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Chinese govt has itself to blame for first trying to slow down the property market and later propping it up.
The RBI's financial stability report has on Wednesday highlighted the disconnect between the real economy and equity market yet again. The central bank observed that Indian equities were trading at rich valuations, with several metrics such as price to earnings multiples, price to book ratio, market cap to GDP and the cyclically adjusted P/E ratio, or Shiller P/E, at above historical averages. For instance, as on December 13, the one-year forward P/E ratio for India was 35.1 per cent, above its 10-year average, and one of the highest in the world.
The BSE benchmark Sensex surged about 241 points to end at 35,165.48 and the NSE Nifty gained 84 points to close at 10,688.65.
'It is easy to dramatise the events of today, but it is far more important to focus on the fact that we have a radically overvalued financial sector. It is a house of cards.'
Can the poll outcome be a trigger for a meaningful correction?
The QIP route was a big hit.
China's covid crisis could provoke a raw material crunch for India's EV industry later this year.
Market experts on why the bulls will be on the rampage first thing on Monday after the scrapping of enhanced surcharge on FPIs and other measures to ease the systemic liquidity squeeze and boost demand. Prasanna D Zore reports.
The government, under the Finance Act, 2020, had allowed tax exemption for SWFs and pension funds in the case of incomes from investment in 34 key infrastructure sectors, including hotels, cold chains, educational institutions, hospitals, and gas pipelines.
'Limited spillovers' to Asia's third-largest economy, even as world 'perilously close' to recession.
The Congress released a booklet 'Nau saal, Nau sawaal', asking nine questions from Modi. The BJP rejected the Congress' criticism as a 'bundle of lies and mountain of deception' and said the questions are born out of 'pathological hatred' of the PM.
Experts believe volatility is here to stay for some time, at least till China stabilises and clarity regarding the US Fed's interest rate move emerges.
Both the indices ended at their highest levels since February 1.
The fragmentation of politics and the pressures of coalition management have contributed to a near-secular rise in budgetary social expenditures and spending on subsidies since 1991, leaving little fiscal space for government-led capital investment.
The 30-share Sensex, after opening on a strong footing, continued its upward march to hit an all-time high of 35,827.70. The NSE Nifty also hit a record intra-day high of 10,975.10, before finishing at 10,966.20, up 71.50 points.
The broader NSE Nifty closed 1.25 points, or 0.01 per cent down at 10,564.05.
The broader NSE Nifty scaled a high of 10,856.55 before closing up by 55.90 points, or 0.52 per cent
Market players said the new norms were more suited for online brokers, where clients were typically internet savvy.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
It would be a difficult task for the Indian economy to reach the $5-trillion mark a year before the International Monetary Fund (IMF) projection of 2026-27. Pankaj Chaudhary, minister of state for finance, said in the Rajya Sabha on Tuesday that the government is taking steps to make the country a $5-trillion economy at a date earlier than the IMF's projection. In that context, it would not be difficult to meet the projection in the third quarter of FY27.
'After 2011-2012, both our investment rate and savings savings rate have declined. 'Correspondingly, the savings rate in the economy as percentage of GDP, also has come down.'
New Delhi's timing couldn't have been worse, both for India's fledgling electric vehicle (EV) sector and prospective electric bike buyers. It was hard to miss the perfect storm brewing for India's EV industry since early 2022. On one hand, you had several accidents involving battery fires that unnerved consumers; on the other, uncertainty had crept in over subsidies.
With infrastructure claiming a larger share, movement and distribution of cement is bound to change.
It could be a matter of concern that foreign shareholders of the NSE are registered in tax havens such as Mauritius and Cyprus.
'However, this time it looks like that is not working.'
Coal India topped the losers' list in the Sensex pack on Tuesday, falling 2.36 per cent, followed by Bharti Airtel at 2.16 per cent.
The broader Nifty, after touching a high (intra-day) of 10,555.50 points, finished at 10,539.75, up 84.80 points, or 0.81 per cent.
'At the heart of the strategic relationship between our countries are economic ties.'
IT exporters were the top gainers amid a weak rupee along with select index heavyweights.
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