HDFC and HDFC Bank's merger - touted as India's biggest-ever corporate merger - pumped up shares of the two entities on the bourses. Shares of Housing Finance Development Corporation (HDFC) skyrocketed 9 per cent while those of HDFC Bank zoomed 10 per cent. In comparison, the benchmark S&P BSESensex and the Nifty50 indices settled 2.2 per cent higher on Monday.
With an m-cap of Rs 31,744 crore, IRCTC stood at 96th position in the overall market capitalisation ranking, the BSE data shows.
The Adani group has the maximum number of companies in the trillion club at five, followed by the Tata group (four).
The IMF on Tuesday cut India's economic growth forecast by 0.5 percentage points to 9 per cent for the current fiscal year, with its chief economist Gita Gopinath saying that the slight downgrade is mainly due to the impact of the spread of the Omicron variant. "If you look at the 2021-22 fiscal year, we have a slight downgrade of -0.5 percentage points and for the next fiscal year 2022-23 we have a slight upgrade of 0.5 percentage points. So, growth for the previous fiscal year is now nine per cent and for this year now is at nine per cent. We moved it up slightly," Gopinath told reporters during a news conference in Washington. In its latest update of World Economic Outlook on Tuesday, the International Monetary Fund has cut India's economic growth forecast to 9 per cent for the current fiscal year ending March 31, joining a host of agencies which have downgraded their projections on concerns over the impact of the spread of Omicron on business activity and mobility.
Market breadth depicted strength. There were almost 3 gainers against every loser on BSE
Nifty could fall to 9,500 levels; not a good time to bottom fish, say experts
Moody's Investors Service on Tuesday slashed India's growth forecast for the current financial year to 9.3 per cent saying that the second wave of coronavirus infections hampers economic recovery and increases risk of longer-term scarring. Moody's, which has a 'Baa3' rating on India with a negative outlook, said obstacles to economic growth, high debt and weak financial system contrain sovereign credit profile. The US-based rating agency had in February forecast a 13.7 per cent economic growth for the current fiscal (April 2021-March 2022).
For stock market investors, things have turned worse.
HDFC was the leading gainer among Sensex stocks on Thursday, rising by 1.65 per cent, followed by Sun Pharma, ICICI Bank, Asian Paints, Titan and Infosys. TCS was the biggest loser, shedding 1.33 per cent. Ultratech Cement, Bharti Airtel, Kotak Bank and Tech Mahindra were among the other major laggards.
In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices added 0.6% and 1.3%, respectively to touch their fresh lifetime highs.
S&P also cut China?s GDP growth forecast to 7.5%t and that of rest of Asia.
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.
The market for Shariah funds is set to grow with Benchmark Mutual Fund launching the first-ever Shariah Benchmark Exchange-traded scheme in India. It's an open-ended listed index scheme.
The Indian economy remains on track to regain its position as the world's fastest-growing major economy after official estimates on Friday put the expansion at a tempered 9.2 per cent this fiscal amid concerns over the impact of a resurgent virus on the fragile recovery. The growth in the gross domestic product (GDP) of 9.2 per cent in April 2021 to March 2022 fiscal (FY 2021-22) given by the National Statistical Office (NSO) in its first advance estimate compares with 9.5 per cent expansion forecast by the Reserve Bank of India (RBI) last month. The economy had contracted by 7.3 per cent in the previous financial year.
Sensex's 3 per cent average performance over the last 5 years can be considered as sleeping.
The Indian markets are poised on a knife's edge testing the pivotal level of 5950, this time from the topside. Should the level hold, expect further rally to the topside, says Sonali Ranade
The central bank will come out with fresh set of guidelines for companies applying for on-tap bank licence
These choices are going to be made available to Indian fund houses by S&P's index services division through India Index Services. ETF is a passive fund wherein investments are made in index companies as per their individual weightage. In times of uncertainty, betting on indices rather than individual companies helps. Index-based products thus become popular.
Shares of HCL Tech hit a fresh record high of Rs 1,118.55 on Friday, up 2 per cent on the BSE in intra-day trade, surpassing its previous high of Rs 1,101 touched on Thursday in intra-day deals.
An S&P stock screen identifies the 10 best-performing stocks during a month that saw unprecedented market turmoil
S&P BSE Midcap shed 0.8% while S&P BSE Smallcap tumbled 0.6%
Premium valuations era started in 2006 and went hand in hand with decline in the US interest rates
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.
Confidence in the company as government is the biggest shareholder.
India's budget for 2015/16 highlighted the government's commitment to keeping the fiscal deficit low.
Global rating agency Standard & Poors (S&P) has said that despite the outlook for Indian corporates being stable, a negative bias persists with corporate entities pursuing rapid inorganic growth with leveraged buyouts and debt-supported expansion.
But Trump is about to announce his candidacy for president in 2024. And it is not clear if Florida Governor Ron DeSantis, the present hero of disenchanted Republicans, or Biden, who says he might seek re-election (but will decide in 2023), can checkmate Trump, notes Shreekant Sambrani.
'Earning expectations remain strong.'
Pegs 2012-13 GDP growth at 7%, says turnaround of the economy likely, rules out fiscal stimulus to revive growth prospects
Citing economic slowdown and political roadblocks to policy-making, rating agency S&P on Monday warned India could become the first BRIC nation to lose investment-grade rating.
The BSE Midcap and the S&P BSE Smallcap indices outperformed to gain 0.6% and 1.1%, respectively
BSE IT index was the biggest sectoral loser, down 1.5% dragged by TCS
Nikunj Saraf, Vice President Choice Wealth, answers your Mutual Fund queries.
The announcement by Standard & Poor's (S&P) on Wednesday to cut its outlook for India from stable to negative should cause no surprise, even though it comes barely five days after a similar exercise by Moody's, which had retained its outlook on India as stable.
The perceived notion about growing corruption and the policy uncertainties have increased the country-specific credit quality risks for the companies in India, global rating agency S&P has warned.
NPA percentage in loans may touch 10% by March 2013, up from 5% in March 2011.
Having exposure to international funds and gold is a must for those who have foreign currency-denominated goals.
The market breadth, indicating the overall health of the market, turned negative from positive
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