Experts said banking is a play on the economy and the latest buying into this space is underpinned by hopes of a sharper-than-expected recovery in the economy.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Market breadth continued to remain strong, with 1899 gainers and 674 losers on the BSEs.
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On the 30-share index, Maruti was the biggest loser, shedding 3.60 per cent. Other major laggards were Yes Bank, IndusInd Bank, Tata Steel, Hero MotoCorp and NTPC -- ending up to 2.33 per cent lower.
A crucial meet of the Reserve Bank's central board is underway amid a rift between the central bank and the government over future course of policies. Expectations of a positive outcome boosted market mood after the meeting began.
Among the Sensex constituents, ICICI Bank was the biggest gainer with 11 per cent jump, followed by State Bank of India, which rose 8.04 per cent.
The markets opened in the positive terrain on the back of positive Asian cues
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
NTPC was the top gainer among the Sensex stocks, rising by 3.53 per cent. Coal India, ONGC and Sun Pharma also rose up to 2.41 per cent.
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Nifty ends above 8,400; TCS, HDFC surge 2%, Bajaj Auto dips 2%.
Among Sensex components, shares of Reliance Industries, India's largest company by market value, stole the show by surging 1.61 per cent to their highest in over three months.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Unlike the race to buy airwaves by telecom companies, airports by infrastructure companies and city gas networks by energy companies, the race to develop super apps by consumer-facing companies in India has not brushed up against any regulatory issues. Officials at the ministry of electronics and information technology and at other regulators are happy they do not have to meddle in who among the Tata group, Reliance Industries Ltd, Flipkart or Paytm will manage to build an app that sweeps in customers. Unlike separate apps a customer uses on her mobile to order groceries, buy food or airline tickets or just make payments, a super app can perform all these functions.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Fund managers say the recent fall is not going to sustain.
Among the Sensex losers, Yes Bank tumbled 5.46 per cent, followed by Bajaj Finance 5.40, ICICI Bank 3.82 per cent, IndusInd Bank 3.10 per cent and HeromotoCorp 2.55 per cent.
The race to get a New Umbrella Entity (NUE) licence for digital payments may get crowded. As many as six consortiums are said to be in the fray to apply for an NUE licence, which would create a for-profit National Payments Corporation of India (NPCI)-like body for retail payments. A consortium led by Financial Software and Systems (FSS), a leading provider of payment products and payment processor, is in talks and may file an application to the RBI for an NUE license, said sources aware of the development. The other constituents of this group include Indian Bank, Central Bank of India, India Post Payments Bank, National Bank for Agriculture and Rural Development (Nabard), and a few small finance banks.
Following the October 24 Supreme Court order, the department of telecom estimated that the total liability of 15 telecom companies, including penalties and interest, would be Rs 1.47 lakh crore.
Both benchmark indices were driven by strong gains in IT, teck, oil and gas, pharma and banking shares amid earnings optimism.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
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Responding to another question, Choubey said that the phase-I of clinical trials have revealed excellent safety of the two candidate vaccines indigenously developed by Bharat Biotech in collaboration with Indian Council of Medical Research and Cadila Healthcare Ltd, and now their immunogenicity testing is in progress. Their phase II clinical trials are ongoing.
Investment guru and mutual fund expert Ashok Kumar, answers all your MF related queries.
Thomas Ninad's bank account was defrauded of Rs 14 lakh under mysterious circumstances.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
Coal India fell the most by 2.58 per cent among Sensex scrips, dragging the index into the negative zone.
Monday saw the Sensex post its weakest closing since July 11 when it settled at 36,265.93. In the previous four sessions the index had lost 1,249.04 points.
Coal India was the biggest gainer on both Sensex and Nifty
The continuing stress faced by corporate India has weakened their debt-servicing capability and this is reflected in the banks' books, as yet-burgeoning bad loans.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
Sun Pharma was the biggest loser among Sensex components, plunging 3.94 per cent, followed by Tata Steel falling 3.12 per cent.
The depreciation in the yuan has led to a decline in all emerging market currencies
Given the fragmented nature of the domestic cable TV market and the need for last-mile connectivity, RIL, said sources, would have to do more to achieve its target of reaching 20 million homes and 15 million business establishments with its broadband services across 1,600 towns in the next few years.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
