PowerGrid was the top gainer in the Sensex pack, rallying over 4 per cent, followed by NTPC, UltraTech Cement, Tech Mahindra, Reliance Industries and IndusInd Bank.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
Markets in green tracking firm global cues.
Equity benchmark indices Sensex and Nifty hit their all-time high levels on Friday helped by impressive GDP data and fresh foreign fund inflows. Also, a rally in global markets added to the positive momentum in the equity markets. The 30-share BSE Sensex jumped 1,139.04 points to 73,639.34 -- its all-time peak -- in the late afternoon trade.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
The S&P BSE Auto Index has been one of the biggest outperformers among sectoral indices over the past year with returns of 26 per cent. By comparison, the benchmarks - the National Stock Exchange Nifty50 and the S&P BSE Sensex - managed about 6-8 per cent during this period. Improving demand, falling raw material costs, and rising product realisations, led by the premiumisation of portfolios, have led to a revision of growth estimates and upgrades by domestic brokerages.
Investors have turned cautious and parked their funds in less risky and fundamentally strong stocks ahead of the second-quarter earnings season.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
Gains on Oil & Gas and financials help markets edge higher while IT continues to remain under pressure.
'We are cautious only on sub-sectors that have seen massive melt-up during the past six months.'
The wide-based National Stock Exchange index Nifty also traded marginally up.
Sundararaman Ramamurthy has been an interesting choice for the publicly-listed BSE, which has seen its chief move to bigger rival -- the National Stock Exchange (NSE) -- in July. Having spent nearly two decades at the country's largest bourse, Ramamurthy is among the early architects of NSE and understands all the cogs of the exchange wheel like only a few others in the country. Just like NSE's core team, which includes its founder RH Patil, the 59-year-old Ramamurthy has worked at the Industrial Development Bank of India (IDBI) before moving to NSE in 1995.
In the context of market integrity, the IRAI and RBI should go over the minutes of the LIC and SBI board meetings when the decisions to invest in Adani equity or debt were taken, notes Jaimini Bhagwati, former World Bank treasury professional.
There is little sense in trying to find stocks that will not be vulnerable in a situation where 87% of the market is trending down and India is getting set for a crucial election, says Devangshu Datta.
So far, about 500 tweets have been posted on the exchange's page on the Twitter. An exchange official said that the NSE has distinguished itself from other bourses with its presence on Twitter.
The combined market capitalisation of the 21 listed PSU banks declined by about Rs 76,000 crore to Rs 425,800 crore during the month.
From the Sensex pack, Mahindra & Mahindra climbed 3.71 per cent after the company reported an 18 per cent jump in its consolidated profit for the March quarter and the highest-ever annual profit of Rs 10,282 crore in FY23. Titan, Tata Steel, HDFC, UltraTech Cement, State Bank of India, ITC, IndusInd Bank, NTPC, HDFC Bank and Bajaj Finserv were the other major gainers. HCL Technologies, Power Grid, Maruti, Wipro, Tata Consultancy Services, ICICI Bank, Infosys, Tech Mahindra and Hindustan Unilever were the laggards.
The proposed move, which would come into force from December 24, follows market regulator Sebi's directives regarding pre-trade controls that where necessitate after 900 points flash crash in benchmark Nifty due to erroneous trade.
The India growth story is still intact, and fall in the Indian stock markets is an imported one and if the government succeeds in legislating the GST and Land Bill, India could yet emerge as a winner believe stock market experts
The wide-based National Stock Exchange index Nifty spurted by 159.35 points, 3.87 per cent to 4,276.05. The rising trend was also supported by brokers indulging in covering their pending positions ahead of the settlements in the derivative segment.
In a major development that will allow Indian investors access to the American market, the National Stock Exchange (NSE) has decided to begin trading in futures contracts of S&P 500 and Dow Jones Industrial Average (DJIA), two of the world's most influential market indices.
The National Stock Exchange has launched a volatility index reflecting the market's expectation of volatility over the near term, which is the next 30 day period. From the best bid-ask price of Nifty 50 Options contracts, a volatility figure (percentage) is calculated, which indicates the expected market volatility over the next 30 days. Higher the implied volatility, higher the India VIX. Implied volatility refers to the implied risks associated with the stock markets.
Bechmarks rallied after BJP won the so called semi finals and investors now anticipate a Narendra Modi-led NDA government coming to power at the centre in 2014.
'Earnings will be the catalyst for markets to march higher from here on out.'
A day after its barometer Nifty recorded biggest single-day loss, country's leading bourse National Stock Exchange on Tuesday asked investors to tread carefully before investing in equities and keep away from rumours and advertisements promising large returns. This followed a sharp fall of 270.70 points in the NSE's 50-share barometer index Nifty yesterday, which is its biggest ever single-day plunge.
'The market should maintain optimism on the back of range-bound oil prices, a robust fiscal balance sheet, a better-than-expected monsoon, and moderating inflation.'
Some commentators now expect the current account deficit for this year to drop below $70 billion.
ITC, Sun Pharma, Maruti, M&M, Tata Motors, HCL Tech, Wipro, Infosys, HUL, Bharti Airtel and Reliance were among the major losers. Kotak Bank rose the most by 1.59 per cent, followed by IndusInd Bank, Bajaj Finance and Bajaj Finserv. L&T, SBI, TCS and HDFC Bank also closed higher.
Here is our take on the market trends to watch out for in 2010.
The National Stock Exchange index, Nifty, also lost 57.05 points at 4,945.20. Marketmen said fears on interest rates going up mainly pulled down banking stocks while a robust rupee and Infosys lowering guidance for the whole year weighed against the IT stocks.
Extending losses for the fourth straight session, the BSE benchmark Sensex today fell by over 107 points in early trade due to investor concerns, after DMK withdrew its support to the ruling UPA government.
Seventeen coaches will be splashed with the images of Nifty, NSE's flagship index. Inside, important investor awareness messages will be given on panels, with the message being 'invest carefully'.
Nifty has a virtual monopoly in the index derivatives segment.
In November last year, the Wipro board had approved the demerger of the non-IT businesses -- Wipro Consumer Care & Lighting (including furniture business), Wipro Infrastructure Engineering (hydraulics and water businesses) and Medical Diagnostic Product & Services business -- into a privately- held company to be named 'Wipro Enterprises Ltd'.
Adani Enterprises became the fourth listed company of Gautam Adani Group to cross Rs 4 trillion market capitalisation (market cap), as the stock hit a new high on the BSE in Tuesday's intra-day trade. At 01:24 pm; with Rs 4.04 trillion market cap, Adani Enterprises stood at number 15th position in overall market cap ranking on the BSE, data shows. Adani Transmission is at top of the group companies list, with market cap of Rs 4.48 trillion, followed by Adani Total Gas (Rs 3.96 trillion), and Adani Green Energy (Rs 3.72 trillion).
'The risk is in not being invested and missing out on an upmove.'
Shrinking inflows and surging outflows on account of profit-booking has curtailed mutual fund (MF) investments in equities since April. The total investments made by equity MFs during the first three months of 2023-24 stands at just Rs 2,980 crore, compared with an average monthly investment of Rs 14,500 crore in 2022-23, reveals data from the Securities and Exchange Board of India. "We are seeing signs of moderation in non-systematic investment plan (SIP) contribution, which has impacted domestic fund inflows in recent months to some extent," says Kunal Vora, head-India equity research, BNP Paribas.
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