Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
The benchmark Nifty50 managed to reclaim its 200-day moving average (DMA) on Wednesday but about half of top 500 stocks continue to languish below this key technical indicator. The 200-DMA - nearly a year's average of closing prices - is analysed by traders to understand the market sentiment. A fall below these levels indicates a weak trend.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bharti Airtel, Sun Pharma, Reliance Industries and SBI. NSE Nifty advanced 184.60 points to 16,955.45.
Despite taking a hit on profitability amid the pandemic, companies with strong balance sheets are gaining market share because of consolidation in their respective sectors.
Benchmark indices Sensex and Nifty gave up early gains to close in negative territory on Thursday dragged down by IT and pharma stocks which fell amid fears of recession in the global economy. The 30-share Sensex opened higher and rose further to touch a day's high of 60,676.12 on gains in auto and capital goods shares. However, it gave up all early gains and later closed 412.96 points or 0.68 per cent lower at 59,934.01.
The NSE Nifty ended at 48 points at 5,241. BSE market breadth was marginally negative. Out of 3,007 stocks traded, 1,548 declined while 1,342 advanced.
Market experts say that FIIs have been caught off-guard on their exposures to companies with high-leverage and those facing cyclical headwinds.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Active largecap funds, which have the toughest job in terms of outperforming the benchmark, did better in 2023 as their bets in the mid and smallcap stocks paid off.
Over the past one-and-half years, the number of stocks trading below their respective face value has increased 29 per cent after a sharp correction in stocks of small-cap companies.
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
2019 appears a story of two halves for Indian equities - a more difficult first half might precede a stronger second half, said Abhiram Eleswarapu, bottom, left, Head of India Equity Research, BNP Paribas in an interview with Ashley Coutinho.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Ulhas Joshi, Head -- Sales, Rank MF, a mutual fund investment platform, answers your queries.
EM asset classes could rally if the pace of US Federal Reserve rate increases moderates.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
NTPC was the top gainer in the Sensex pack, rallying around 4 per cent, followed by Titan, SBI, HUL, IndusInd Bank and UltraTech Cement. NSE Nifty advanced 63.15 points to 15,746.50.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
'So, what does one believe -- just 6 stocks that are pushing the indices higher or the 600 scrips that are reflecting economic pain?'
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
In rupee terms, India's market cap is currently about Rs 184 trillion - 90 per cent of the GDP of Rs 203 trillion for FY20 at current prices.
Mutual funds (MFs) are lining up distinguished new fund offerings (NFOs) for the next financial year to win over investors after a lukewarm response to product launches in the 2022-23 financial year (FY23). NFOs drew a lukewarm response in FY23 as launches were mostly in the passive debt space, which has a comparatively lower popularity among retail investors. The limited launches in equity space also failed to rake in huge sums due to subdued investor sentiments in a volatile market.
Reliance Industries was the top gainer in the Sensex pack, rallying up to 15 per cent, followed by Kotak Bank, Maruti, HDFC twins, Titan, L&T and Axis Bank. On the other hand, IndusInd Bank, ONGC, ITC and Bajaj Auto closed with losses. the NSE Nifty settled 516.80 points, or 6.62 per cent, up at 8,317.85.
'We suggest investors with suitable risk appetite to consider allocating 40-50 per cent in large-caps, 25-30 per cent of funds in quality mid and small-caps and the rest in debt and high yield products.'
A flavour-of-the-season approach does not work in investing, suggests Deepesh Raghaw.
Reliance Industries raced to 52-week high on better than estimated earnings and announcement of bonus share.
The Sensex closed at 11,312.99 up 121 points. The Nifty gained 39 points to close at 3,313.
HDFC Bank was the top loser in the Sensex pack followed by IndusInd Bank, Axis Bank, HDFC, Maruti and Bajaj Finance. NSE Nifty fell 171 points to 15,752.40.
India's benchmark index, Sensex ended on a flat note after a volatile trading session as investors braced for the US Federal Reserve policy meeting with caution.
The net inflows into active equity mutual fund (MF) schemes registered more than a twofold month-on-month rise in August, crossing Rs 20,000 crore, the highest in five months. This rise in net inflows was boosted by an 18 per cent growth in gross investments, driven by a record Rs 15,800 crore inflow through the systematic investment plan (SIP) route and Rs 5,000 crore collected by seven new fund offers (NFOs) in the active equity space, reveals data released by the Association of Mutual Funds in India (Amfi). Moreover, redemptions moderated in August, declining by 19 per cent to Rs 24,580 crore, after staying elevated in the previous three months owing to profit booking.
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
Adopting overly aggressive strategies without considering risk could lead to significant losses during the next downturn.
'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...'
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
Titan, NCC, Delta Corp, Karur Vysya Bank, Aptech, and Jubilant Life Sciences are among stocks in Jhunjhunwala's portfolio that have taken a severe hit, falling more than 50 per cent during the period.
Telecom, metal and healthcare came as dampeners.
'Trust a fund manager, buy some small-cap funds and stay invested.'
