Investors became poorer by over Rs 4.47 lakh crore on Friday as markets faced severe drubbing, mirroring weak trends in global equities. The 30-share BSE benchmark dived 866.65 points or 1.56 per cent to settle at 54,835.58. During the day, it tumbled 1,115.48 points or 2 per cent to 54,586.75.
Equity investors became richer by over Rs 7.21 lakh crore as stock markets continued the rally for the second day on Wednesday. The 30-share BSE Sensex opened in the green on Wednesday and further jumped 1,469.64 points or 2.75 per cent to 54,893.73 during the day. It finally settled at 54,647.33, higher by 1,223.24 points or 2.29 per cent amid reports of diplomatic efforts to end Russia's attack on Ukraine. On Tuesday, it settled at 53,424.09, higher by 581.34 points or 1.10 per cent.
Investors' wealth on Tuesday jumped by over Rs 2.51 lakh crore, in tandem with a sharp recovery in equities after four days of heavy declines. The 30-share BSE Sensex opened on a weak note and tumbled 581.93 points or 1.10 per cent to 52,260.82 during the day amid firming oil prices and relentless selling by foreign institutional investors. Amid bouts of volatility, the benchmark touched a high of 53,484.26 and a low of 52,260.82 during the trade. It finally settled at 53,424.09, higher by 581.34 points or 1.10 per cent.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
Investor wealth worth over Rs 13.44 lakh crore was wiped off on Thursday as the domestic equity markets tumbled along with global risk assets, after Russia launched military operations against Ukraine. Amid intensifying rout in the global financial markets, the 30-share BSE Sensex plummeted 2,702.15 points or 4.72 per cent to end at 54,529.91. The carnage on Dalal Street eroded investor wealth worth Rs 13,44,488.54 crore, taking the total market capitalisation (m-cap) to Rs 2,42,24,179.79 crore on the BSE.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Equity mutual funds attracted Rs 8,898 crore in July, a 43 per cent decline compared to the preceding month as markets continued to remain volatile amid concerns over inflation and rate hike expectations. For the 17th straight month, equity mutual funds witnessed inflows in July. The net inflows in July were lower compared to Rs 15,495 crore seen in June, Rs 18,529 crore in May and Rs 15,890 crore in April, according to data released by Association of Mutual Funds in India (Amfi) on Monday.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
Equity market sentiment this week will be guided by global trends in the absence of any major domestic triggers, while bourses may also see some volatility amid expiry of derivatives contracts, analysts said. Fears of sooner-than-expected tapering in monetary stimulus by the US Federal Reserve, rising cases of the Delta variant of the coronavirus coupled with China's regulatory crackdown triggered selling in global markets in the previous week.
'Large-caps are better placed to withstand the impact of higher input cost inflation, rising rates and withdrawal of excess global liquidity.'
Equity markets would watch out for global cues in absence of any major event on the domestic front, and indices may face volatility in view of the scheduled derivatives expiry this week, analysts said. "During the week, volatility is likely to remain high due to the scheduled derivatives expiry of November month contracts on November 25. "At the same time, the focus would largely remain on the global markets for cues, in absence of any major event on the domestic front," said Ajit Mishra, VP Research, Religare Broking.
The recent currency volatility - rupee's depreciation against international currencies - may have given heartburns to automakers that rely on imports or pay royalty to parent companies abroad. But for Maruti Suzuki India, favourable movement of the yen - the currency that matters the most - against the Indian rupee, has given it reasons to cheer. The yen's sharp fall against the rupee and the rupee's depreciation against the US dollar, which in turn will bump up export realisations, are set to give a margin boost to the maker of Baleno and Brezza, said analysts. The softening of commodity prices and slew of new SUV launches in the coming months will also aid margins, they said.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Domestic equities will be mainly driven by global market trends, foreign institutional investors' movement and developments around new Covid variant Omicron this week, according to analysts. Markets traded under pressure last week following weak global cues and overall investor sentiment remained downbeat throughout the week, they observed. "Global markets, Omicron variant, dollar index and FIIs' behaviour will be key factors to drive the market this week," said Santosh Meena, head of research, Swastika Investmart Ltd. One major event last week was US Federal Reserve's announcement that it will end bond-buying from March, and it also signalled starting rate hike cycle thereafter.
10 high dividend paying stocks across sectors that are expected to maintain or even increase their pay-outs in FY23 thanks to faster earnings growth in the last four quarters.
Logistics services provider Delhivery is likely to launch its downsized initial public offering (IPO) this week, said people in the know. The Softbank-backed firm may trim its issue size from Rs 7,460 crore to Rs 5,500 crore to align with the volatile market conditions, sources said. Sources added the fresh issue component of the IPO could be reduced to Rs 4,500 crore and the OFS component to Rs 1,000 crore.
Investors added more than Rs 10.56 lakh crore to their wealth as markets continued their rally for the sixth straight session on Thursday. The BSE Sensex went past 61,000-mark for the first time ever on Thursday. It jumped 568.90 points or 0.94 per cent to its new closing peak of 61,305.95.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Investors' wealth has eroded by over Rs 6.15 lakh crore in three days of market decline amid weak global cues and persistent selling by foreign funds. The BSE benchmark Sensex tumbled for the third straight session on Friday to close at 59,306.93, down 677.77 points or 1.13 per cent. In three days, the 30-share index has lost 2,043.33 points or 3.33 per cent.
The rupee tumbled 19 paise to close at a fresh lifetime low of 77.93 against the US dollar on Friday as rising crude oil prices and unabated foreign capital outflows soured sentiment. A sell-off in equity markets and stronger greenback overseas also weighed on the domestic unit, forex traders said. At the interbank foreign exchange market, the local currency opened at 77.81 and witnessed an intra-day high of 77.79 and a low of 77.93 against the US dollar.
The 30-share BSE benchmark jumped 533.74 points or 0.91 per cent to 59,299.32. During the day, it zoomed 783.24 points to 59,548.82.
In twin blows to Indian economic revival, higher food prices drove retail inflation to a five-month high of 7.4 per cent while factory output fell for the first time in 18 months. The second consecutive month of rise in consumer price index (CPI)-based inflation will add to the pressure on the Reserve Bank of India (RBI) to again raise interest rates to tame high prices. Inflation has been above the targeted zone for the ninth month in a row and as per statute, the RBI will now have to explain to the government in writing why it failed to keep prices below 6 per cent.
Wondering if mutual fund investments can earn you enough money for your retirement and child's marriage? Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Mutual fund (MF) houses have started realigning their overseas product offerings after the Securities and Exchange Board of India (Sebi) advised them to stop subscriptions. PPFAS Asset Management has decided to suspend transactions in Parag Parikh Flexi Cap Fund with effect from February 2, 2022. Though new lump-sum and systematic investment plans (SIPs) will not be accepted, existing SIPs and systematic transfer plans (STPs) will continue.
Despite a healthy March-May quarter (Q3FY22) show by global IT consulting firm Accenture, Indian IT companies shed up to 3 per cent on the National Stock Exchange (NSE) on Friday as analysts continued to highlight medium-term pain points for the sector. The Nifty IT index settled 0.9 per cent lower on Friday, as against a 0.9 per cent rise in the Nifty50 index. According to analysts at ICICI Securities, Accenture's Q3 saw moderation in year-on-year growth rate across verticals and US regions, which signals at likely normalisation in revenue momentum for Indian IT services going forward.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
A seasonally-strong quarter, with no immediate impact of the second wave and continued acceleration of digital transformation will allow the IT services sector to report a robust Q1 this financial year. However, key metrics to look out for will be attrition rate and margin lever as they will be impacted by salary hikes. Analysts expect growth for the quarter to be broad-based, with sectors like banking, financial services and insurance (BFSI), retail, manufacturing, hi-tech and life sciences driving revenue growth. Analysts across brokerage houses are pegging revenue growth in the range of 1.5 per cent to 4.5 per cent.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
Telecom gear makers, who are in talks with telcos, say that if all goes well, they are ready to roll out the first phase of 5G services from October this year and cover the country's top 30-50 cities (in limited areas) by March 2023. The gear makers expect the telecom companies to give them a heads-up about their plans as well as the equipment required by July, and have promised deployment in three to four months after that. India's main telecom gear suppliers are Nokia, Ericsson and Samsung.
Analysts believe that investors should look at stocks that hit 52-week lows only if they have a dividend paying track record, are debt-free and have sound fundamentals.
Sustaining positive momentum for the 14th straight month, equity mutual funds attracted a net sum of Rs 15,890 crore in April amid heightened volatility in stock market and consistent selling by foreign portfolio investors. This was much lower compared to a record net inflow of Rs 28,463 crore seen in the preceding month, data from the Association of Mutual Funds in India (AMFI) showed on Tuesday. The lower quantum of net inflow from the previous month could be attributed to investors going slightly cautious given the ongoing challenges to the investment environment, Himanshu Srivastava, associate director - manager research, Morningstar India, said.
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The Russia-Ukraine conflict, which has spooked financial markets globally, will set the tone for Dalal Street this week amid concerns over energy prices and foreign fund outflows, analysts said. Participants will also track key macroeconomic signals like GDP estimates and PMI data for manufacturing and services sectors to be announced this week, they added. "With earnings season behind us and given the overall sentiments, markets are expected to move in sync with global peers in the coming week. "A close eye will be kept on the developments concerning the Russia - Ukraine crisis and considering the inflation overhang, market participants will also observe movements in energy prices," said Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd.
Investors' wealth tumbled by over Rs 7.35 lakh crore on Friday, with the BSE benchmark Sensex plummeting 1,688 points amid a global selloff triggered by a new coronavirus variant. The 30-share index tumbled 1,687.94 points or 2.87 per cent to close at 57,107.15. During the day, it tanked 1,801.2 points or 3.06 per cent. Tracking the weak trend, the market capitalisation of BSE-listed companies slumped by Rs 7,35,781.63 crore to reach Rs 2,58,31,172.25 crore.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your mutual fund queries.
The ruling Bharatiya Janata Party received over Rs 785 crore in contributions from individuals, electoral trusts and corporates in 2019-20, which is over five times more than what the Congress received during the same period.
Making a stellar debut, shares of FSN E-Commerce Ventures, which runs the online marketplace for beauty and wellness products Nykaa, closed with a huge premium of over 96 per cent against the issue price of Rs 1,125 on Wednesday. The stock debuted at Rs 2,001 apiece, reflecting a jump of 77.86 per cent on the BSE. Then, the scrip zoomed 99.83 per cent to Rs 2,248.10 during the day before closing at Rs 2,206.70.
The results of Indian IT services players in the just-concluded fourth quarter of 2021-22 are expected to reveal continuing growth momentum as demand surges on the back of digital transformations and the cloud shift, but analysts anticipate margins to be under pressure due to supply challenges. Analysts covering the sector expect revenue commentary should be strong despite the Russia-Ukraine conflict and inflation. Top-line growth will be driven by broad-based demand with a strong uptick for cloud, digital, cybersecurity, data analytics, and artificial intelligence, among other services.
Analysts attribute the surge to a host of factors, particularly the interest shown by the retail investors in these two market segments.
Axis Bank's acquisition of Citibank's consumer finance business for Rs 12,325 crore - the second biggest deal in the Indian banking sector - is seen as a good deal at a good price. The acquisition enables Axis Bank to close the gap with competition in some key segments such as credit cards. At the same time, there are some key issues that are crucial for the deal's success, apart from the fact that it will take some time for Axis to reap the full harvest of its investment.
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