'It won't help being complacent about the momentum and valuations of equities that currently exist.'
Ten central trade unions except Bharatiya Mazdoor Sangh are observing one-day general strike on Thursday to protest against various government policies.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Compared to equity funds, debt funds are lower risk profile and are usually suitable for investors for very short term.
The government may infuse about Rs 10,000 crore (Rs 100 billion) as equity capital in nationalised banks in addition to an identical amount in the country's largest lender, State Bank of India (SBI). Nationalised banks with the government holding closer to the floor of 51 per cent are likely to receive the capital infusion support.
Equity mutual funds witnessed an outflow of Rs 9,253 crore in January, making it the seventh consecutive monthly withdrawal, primarily due to profit booking and portfolio rebalancing amid markets touching new highs. The pace of outflows from equities has however slowed for the third month and Gautam Kalia, head - Investment Solutions, Sharekhan by BNP Paribas said that it will likely turn positive soon as investors get used to the new normal. In addition, investors pulled out Rs 33,409 crore from debt mutual funds last month after investing Rs 13,863 crore in December, data from the Association of Mutual Funds in India showed on Tuesday.
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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.
The S&P BSE Sensex ended down 362 points at 23,191.
Reliance Industries Ltd will sell 4.3 million tonnes of petroleum products from its 33 million tonnes Jamnagar refinery in Gujarat to public sector oil retailing companies in 2004-05.
Gartner Inc, the research and advisory firm, expects mergers and acquisitions in public sector banks to gain momentum during the next couple of years, as the Indian government is "poised to increase" foreign holding in Indian banks.
Investors became richer by over Rs 6.34 lakh crore on Monday as markets gave a big shout-out to the Budget 2021-22, which analysts termed as 'unprecedented' against the backdrop of the pandemic-induced slowdown. Cheering the Budget proposals, the BSE benchmark Sensex zoomed 2,314.84 points or 5 per cent to close at 48,600.61. During the day, it jumped 2,478.63 points to 48,764.40. This was the best Budget-day gain for the markets since 1997, analysts said. Following the extremely positive market sentiment, the market capitalisation of BSE-listed companies rallied Rs 6,34,069.67 crore to Rs 1,92,46,713.70 crore.
State-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum are likely to lose Rs 45,478 crore (Rs 454.78 billion) this fiscal on selling fuel below cost, Petroleum Minister Murli Deora said.
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Employees of PSU oil firms said they will strike work on Tuesday against the proposed privatisation of cash-rich oil refiner Indian Oil Corp.
The department for promotion of industry and internal trade has asked the telecom department and State-owned BSNL to put on hold the tender for setting up 4G network, valued at Rs 9,000 crore, after allegations emerged that the tender favoured foreign companies. The tender was floated by BSNL in March under the new management for setting up the 4G network.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
Despite the large economic impact of the Covid-19 pandemic, the markets have recovered sharply even though the performance among individual stocks has been quite polarised.
Strengthening the portfolios of the home minister and the finance minister is a message that should not be missed, points out A K Bhattacharya.
Top gainers in the Sensex pack included Tata Steel, Kotak Bank, NTPC, HDFC twins, PowerGrid and ONGC, rising up to 4.60 per cent.
Equity benchmarks erased early gains after realty, capital goods, teck, auto, PSU, IT, power and bankex counters came under selling pressure, falling up to 1.28 per cent.
The minister further said state discoms should not give orders for supply of equipment to Chinese firms.
Nifty PSU bank index dropped nearly 2%
International consultants Hewitt Associates has said it is helping two foreign firms in bidding for PSUs put up for divestment and is engaged in due diligence for four private companies for M&As in financial, IT and commodities sector.
India's minister for privatisation on Friday said a much-awaited stake sale in state-run refiners Bharat Petroleum Corporation Limited and Hindustan Petroleum Corporation Limited could go ahead as soon as the prime minister gave his approval.
Divestment Minister Arun Shourie on Thursday declined to comment on reports that Indian companies would be kept out of bidding in the divestment process relating to public sector oil companies.
The 50-component Nifty closed at 10,214.75, a solid gain of 96.70 points, or 0.96 per cent
The government plans to set up a separate divestment fund out of the proceeds of privatisation of the PSUs and use it to meet the basic needs of the people.\n\n\n\n\n\n\n\n\n\n
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
The 50-share NSE Nifty ended up 37.05 points, or 0.36 per cent, at 10,397.45 points
With the government planning to mop up Rs 24,000 crore (Rs 240 billion) through disinvestment this financial year, investors have once again become interested in public sector companies.
The NSE Nifty settled the day 93.20 points or 0.88 per cent lower at 10,452.30 after shuttling between 10,612.90 and 10,434.05.
The government holds 90 per cent stake in ITI which is valued at Rs 7,550 crore.
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'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.'
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
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