The underperformance comes amid liquidity concerns in the non-banking finance companies space and Essel Group default news.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Foreign brokerage firm CLSA initiated coverage on the stock with a Sell rating and target price of Rs 1,095, citing hefty premium valuation.
The BSE Midcap index has declined 5.7% thus far in May 2018. In comparison, the S&P BSE Small-cap index has lost 5.6%
Monsoons have had limited effect on market returns for a given year, report Sachin Mampatta and Sundar Sethuraman.
The Karnataka election is being seen as the semi-final to the 2019 general elections and appears to be heading towards a close fight
Among major Sensex movers, Ultratech Cement rose over 4 per cent, Bajaj Finance by 2.63 per cent and Maruti by 2 per cent. BSE Sensex closed up by 133.14 points at a record high of 47,746.22. NSE Nifty rose by 49.35 points at its lifetime high of 13,981.95.
10 stocks which are most popular with brokerages right now and are expected to deliver maximum upside over the next 12 months.
It is not clear as to whether we are in a bubble in technology stocks. What is clear, however, is that there is no reason why this potential bubble will pop anytime soon, notes Akash Prakash.
Omkeshwar Singh, head, Rank MF, a mutual fund investment platform, answers your queries.
With an m-cap of Rs 31,744 crore, IRCTC stood at 96th position in the overall market capitalisation ranking, the BSE data shows.
S&P said Indian technology players will continue to grow at a slightly slower pace over the next two to three years due to technological disruptions.
The regulator is more carefully scrutinising applications by infrastructure investment vehicles that have a limited number of investors. They have been asked to broaden their investor base before application approval, according to two people familiar with the matter. The Securities and Exchange Board of India is concerned about the structure being used for getting around tax requirements, according to one of the sources.
Fitch Ratings on Wednesday cut India's growth forecast to 10 per cent for the current fiscal, from 12.8 per cent estimated earlier, due to slowing recovery post second wave of COVID-19, and said rapid vaccination could support a sustainable revival in business and consumer confidence. In a report, the global rating agency said the challenges for banking sector posed by the coronavirus pandemic have increased due to a virulent second wave in the first quarter of the financial year ending March 2022 (FY22). "Fitch Ratings revised down India's real GDP for FY22 by 280bp to 10 per cent, underlining our belief that renewed restrictions have slowed recovery efforts and left banks with a moderately worse outlook for business and revenue generation in FY22," it said. Fitch believes that rapid vaccination could support a sustainable revival in business and consumer confidence; however, without it, economic recovery would remain vulnerable to further waves and lockdowns.
Majority of equity linked savings schemes as well as mid and small-cap funds outperformed their respective benchmark indices over a five-year period ended December 2015.
The spread of COVID-19 and the accompanying mayhem caused the S&P BSE Sensex to drop over 38.5 per cent from its all-time high of 42,273.9 to a low of 25,981.2 on March 23. Those in the astrology and even numerology segments received more calls than before during the time.
Around 75 per cent, or 372 stocks, that are part of the BSE500 are trading at least 10 per cent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade on Wednesday, surpassing its previous high of 20,390 touched in March 12. The index, which accounts for 93 per cent of BSE listed companies' market capitalisation, has gained 8 per cent from its recent low of 18,983, touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 per cent over the same period, but is still nearly 4.5 per cent away from its all-time high of 52,517 that it hit on February 16.
Most private companies are not initiating large projects.
The S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3% and 0.5%, respectively
In a bull-case scenario it sees the Sensex at 61,000 levels, while it's bear case scenario pegs the Sensex at 41,000 levels by December 2021.
The S&P BSE Midcap and the S&P Smallcap indices rallied over 1% each
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
TCS, Bajaj Auto, Adani Ports and Cipla were the top gainers on BSE Sensex while Coal India, GAIL, Dr Reddy's and Infosys lost the most on the index.
In the broader market, the S&P BSE Midcap ended 0.1% down, while the S&P BSE Smallcap index gained 0.3%.
The S&P BSE Midcap and the S&P BSE Smallcap indices slipped in red to shed over 1% each
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
market rally, especially in mid-caps, has also been driven by a pick-up in the monsoon and the government's resolve to get the goods and services tax (GST) Bill cleared in the recent session of Parliament.
His portfolio was worth Rs 12,333 crore at the end of June 2018. It was worth Rs 10,633 crore at the end of the September quarter. Smallcaps account for the largest number of his stock-picks. Such a fall has now happened for the third quarter in a row.
Birthday wishes poured in from the cricketing world for the iconic Sunil Gavaskar, who turned 71 on Friday. From the great Sachin Tendulkar to Sanjay Manjrekar to to VVS Laxman, many cricketers took to Twitter to wish their cricketing hero.
Petrol and diesel prices on Thursday climbed to fresh highs in the country as rates were hiked by the most in recent times, even as fuel retailers said the government can cut taxes to ease consumer burden. Petrol and diesel price was hiked by 35 paise per litre each after a gap of a week, according to price notification of state-owned fuel retailers. The increase took petrol prices to a fresh high of Rs 86.65 a litre in Delhi and to Rs 93.20 in Mumbai.
Very gradual fiscal consolidation glide path with looser-than-expected fiscal policy; good quality spending mix and reasonable assumption on fiscal math; and focus on privatisation, asset monetisation and long-term funding for infrastructure investments, according to Morgan Stanley, are the three key themes from the Budget 2021.
Broader market outperformed with the S&P BSE Midcap index adding 0.7%, while S&P BSE Smallcap index gained 0.6%.
There will be pressure on the fiscal situation, especially at a time when the monsoon can also disappoint. More populist expenditure is on cards if the mandate is a hung Parliament or a coalition government.
Broader market outperformed the benchmark indices with S&P BSE Midcap gaining over 1%
The current up move, according to analysts, closely resembles the rally post the global financial crisis in 2008-09, not just in quantum and speed, but also the way small-and mid-cap indices outperformed large-cap peers.
The S&P BSE Midcap and the S&P BSE Smallcap indices under-performed to lose 0.8% and 1.6%
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Lawyers say compensation may be an uphill task for investors because of a lack of judicial precedent and broader institutional difficulties.
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
