Sensex closed over 118 points down on Thursday.
Since infrastructure projects have long gestation periods, investors need to enter them with a long horizon of at least 10 years.
After a turnaround in performance by Indian equity markets since July that has seen the S&P BSE Sensex and the Nifty50 wipe out the year-to-date losses, analysts suggest investors start nibbling into stocks that are focused on the domestic economy. While they say intermittent corrections, led by policies of global central banks and other economic data, cannot be ruled out, analysts expect India's relative outperformance among global equity markets to continue as it looks better placed with a healthy economic recovery, and remains one of the fastest growing major economies. In this backdrop, Neeraj Chadawar, head of quantitative equity strategy at Axis Securities, believes that amid global slowdown, aggressive tightening by the central banks, and preference for domestic interests first (by the local government), export-oriented themes are likely to be muted or will deliver conservative returns in the near-term.
Infosys was the top gainer in the Sensex pack, rising 2.36 per cent, followed by HDFC Bank up 1.39 per cent.
This surpassed its previous record close of 29,974.24, reached on April 5.
Bank shares were the top gainer in early trades with Bank of Baroda up over 4%.
Ultratech Cement was the top gainer in the Sensex pack, surging nearly 3 per cent, followed by M&M, Maruti, Tata Steel, TCS, L&T, SBI and HUL. NSE Nifty advanced 52.35 points to 18,308.10.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The Sensex closed the day at 27,490, higher by 479 points and the Nifty ended at 8331.95, up 150.45 points.
Sun Pharma emerged as the star performer and closed 4.03 per cent up at Rs 675.45, while Cipla rallied 1.58 per cent to Rs 592.60.
Titan was the top loser in the Sensex pack, shedding over 1 per cent, followed by TCS, HCL Tech, Reliance Industries, UltraTech Cement and Bharti Airtel. NSE Nifty settled 45.65 points down at 15,814.70.
The Nifty and Bank Nifty ended at record closing high of 7,913 and 15,865 respectively.
Markets in green tracking firm global cues.
However, experts caution that investors should not expect the big returns they got from the sector between March and September 2020.
Earnings growth, attractive valuations and change in FPI flows from negative to positive over the next 12 months are some of the key triggers for an upside. "A poor monsoon, high inflation and further rate hike are some of the key risks
Banking shares saw a renewed buying interest on the hopes of a rate-cut by the central bank post the easing of macro-economic data.
Select metal stocks rebounded while power stocks extended losses after SC verdict on coal block allocations.
Sensex rises, Nifty holds 8,900; FMCG, Pharma shares lead.
ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto and Maruti. On the other hand, IndusInd Bank, HUL, Dr Reddy's, NTPC and Reliance Industries were among the gainers.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Sensex ends 134.91 pts down at 28,709.87; Nifty falls 44.70 pts at 8,712.05.
The Sensex closed down 308 points at 24,894 and the Nifty has lost 96 points at 7,559.
In the broader market, BSE midcap and BSE smallcap indices underperformed the larger counterparts and ended flat with a negative bias.
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
Tech Mahindra was the top loser in the Sensex pack, shedding over 3 per cent, followed by NTPC, IndusInd Bank, Kotak Bank and Reliance Industries. NSE Nifty fell 185.60 points to 17,671.65.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
Benchmark indices failed to hold on to early gains and closed in the red for the seventh straight session on Thursday, with participants remaining in wait-and-watch mode ahead of the RBI's interest rate decision. Unabated selling by foreign funds added to the pressure, though a modest recovery in the rupee cushioned the fall, traders said. After rallying in early trade, the 30-share BSE Sensex came under selling pressure in the afternoon session and closed 188.32 points or 0.33 per cent lower at 56,409.96.
Stock market investors are expecting a balanced Budget with a focus on job creation, increased spending on infrastructure, reigning in the deficit, and bringing the economy back on track, experts said on Wednesday. Stock markets have been subdued in the run-up to the Union Budget with BSE's benchmark Sensex is almost flat so far this month. Even the corporate earning season failed to excite the markets, while some indices like IT and bankex have seen some positive movements.
Reliance Industries was the top gainer in the Sensex pack, surging over 3 per cent, followed by Bajaj Finserv, IndusInd Bank, HDFC twins and Kotak Bank. NSE Nifty surged 143.25 points or 1.18 per cent to 12,263.55.
Strong gains in Vedanta Ltd, Adani Ports, Bharti Airtel and Maruti Suzuki helped the index touch record levels.
The recovery was led by pharma majors led by Dr Reddy's Labs.
So which sectors are likely to do well in 2022? Should you focus on domestic economy-related sectors or export-oriented ones?
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Powered by a rally in index heavyweight Reliance Industries, equity benchmark Sensex broke its four-session losing run to close above the 55,000-mark on Thursday despite a weak trend overseas. Investors made a cautious return to IT, pharma and bank stocks after their recent sell-off. However, a depreciating rupee and persistent foreign fund outflows capped the gains, traders said. Overcoming a lacklustre start, the 30-share BSE Sensex surged 427.79 points or 0.78 per cent to close at 55,320.28.
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Benchmark share indices ended lower on profit taking after they touched record highs in the previous session.
On the Sensex chart, IndusInd bank, M&M, Reliance Industries, Tata Steel and Bharti Airtel emerged as the top losers.
Markets recorded their biggest single-day fall since August 1 amid growth concerns in the euro zone.
