Crude oil prices have more than doubled, pushing up India's import bill and raising fears of a higher current account and fiscal deficit. This will impact corporate earnings.
Shiv Sena has so far expressed concerns over car shed for the city's planned metro network, the bullet train and the West Coast refinery projects.
The broader NSE Nifty, after shuttling between 10,651.60 and 10.532.70 points on alternate bouts of buying and selling, closed 6.20 points, or 0.06 per cent, down at 10,576.30.
This is the highest closing for both the indices since May 15.
The broader NSE Nifty slipped below the 10,500-mark by falling 103 points, or 0.97 per cent, at 10,482.20. It touched a high of 10,645.50 and a low of 10,464.05 during the day.
The Sensex has slid 18.5 per cent from its January 2015 peak.
'The expectation was that Modi would become even bolder in his approach, and after only four months into his second term, we are starting to see evidence of this.'
The market breadth, indicating the overall health of the market was strong
Kotak Bank was the biggest loser in the Sensex pack, falling 3.71 per cent, followed by RIL, HDFC Bank, Bajaj Finance, PowerGrid, IndusInd Bank, Asian Paints, HDFC and ITC.
Sustained FII inflows and fresh spell of buying by domestic institutional investors fuelled the rally
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
Indian Oil Corporation is eyeing acquisition of a stake in Singapore Petroleum company as part of its plans to become a diversified, transnational, integrated energy major.
Top gainers in the Sensex pack were Tata Motors, ONGC, Yes Bank, IndusInd Bank and Vedanta -- rising up to 2.71 per cent.
The broader NSE Nifty too reclaimed the key 11,500-mark. It touched a high of 11,562.25, before finally settling at 11,536.90, showing a gain of 59.95 points, or 0.52 per cent.
In the last nine sessions, the Sensex had lost 1,940.73 points and the Nifty has given away nearly 600 points.
Top losers in the Sensex pack included ICICI Bank, Tata Steel, Vedanta, HDFC IndusInd Bank, Tata Motors, RIL and ONGC -- falling up to 4.45 per cent.
TCS was the biggest loser in the Sensex pack, sliding 3.17 per cent, followed by HCL Tech, Yes Bank, IndusInd Bank, RIL, ICICI Bank, Infosys, Tata Steel, Kotak Bank and L&T, down up to 2.34 per cent.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally ended 100.30 points, or 0.96 per cent, higher at 10,582.50.
Countries with abundant resources are faring worse in terms of development than those with less.
Stick to export-focussed plays, large-caps, say analysts
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
India's GDP growth to reach 8% by 2017. says World Bank
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Companies such as Indian Oil Corporation, Tata Steel Ltd and Tata Power Company Ltd will remain highly leveraged over the next 12 months because of weak industry dynamics and resulting constraints on cash flows, it said.
While previously selling of the marketing business, possibly to another state-owned firm, was being considered, the government is now mulling on hiving off the pipelines into a separate entity and selling off a majority stake in it.
Prime Minister Narendra Modi on Wednesday said the government has no business to be in business and his administration is committed to privatising all PSUs barring the bare minimum in four strategic sectors. "It is government's duty to support enterprises and businesses. But it is not essential that it should own and run enterprises," he said. Modi also said the Centre's policy is to either monetise or modernise public sector enterprises, with the intent that the government has "no business to be in business".
Monday's drop followed an 8.5 per cent slump in Chinese markets.
The combined profit before tax of 748 companies, which have declared their results for Q1FY21, is down 46 per cent YoY. Their net sales went down by a quarter as the Covid-19 lockdown led to a sharp fall in economic activity.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
'The term 'pro-growth' must be qualified somewhat because, while a rising tide will lift all boats, it will not necessarily do so equally.'
Small- and mid-cap stocks continued facing selling pressure due to stretched valuations.
While Vedanta was the biggest gainer in the Sensex pack rallying 4.67 per cent, others included Tata Steel, ONGC, NTPC, Yes Bank, Infosys, Sun Pharma, Bharti Airtel, SBI, Bajaj Finance, L&T and RIL, rising up to 4.13 per cent.
India's natural gas production is projected to jump by 52 per cent to 122 million standard cubic metres per day by 2024 as state-owned Oil and Natural Gas Corporation (ONGC) and Reliance Industries Ltd-BP combine raise output from the KG basin fields. Natural gas production in 2019-20 was 85 mmscmd, which is estimated to have fallen to 80 mmscmd in the following year, HDFC Securities said in a report. The output is projected to rise in the current fiscal that started on April 1 to 93 mmscmd, 107 mmscmd in the following year and 122 mmscmd in 2023-24, the brokerage estimated.
Cairn files notice against India in $1.6 billion tax dispute.
The broader NSE Nifty ended 57 points, or 0.49 per cent, lower at 11,498.90 in its fourth straight day of losses.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
India has not been able to compete with countries such as Bangladesh and Vietnam.
The Sensex has now lost 878.32 points in six sessions -- its longest string of losses in six months.
Ongoing trade-war rhetoric between the US and China added some nervousness on the trading front coupled with extremely bullish dollar sentiment overseas.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Prime Minister Manmohan Singh on Tuesday dedicated GAIL India Ltd's 1,000 km Dabhol-Bangalore natural gas pipeline to the nation.
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