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The breadth, indicating the overall health of the market, was slightly positive
Investing in the US market provides Indian investors a hedge against the rupee's long-term tendency to depreciate against the dollar.
The eight Indian companies are part of S&P's list of 300 mid-size companies across 37 countries in the latest S&P Global Challengers List.
The S&P BSE Sensex shed over 255 points and ended at 25,062.67 while the CNX Nifty traded 76 points lower and ended at 7,493.20.
Thus far in FY21, BSE, NSE have rallied 70 per cent and 71 per cent, respectively.
Acquisitions may have played a role in much of the increase.
HCL Tech was the top gainer in the Sensex pack, rising over 4 per cent, followed by HDFC Bank, Infosys, NTPC, Nestle India, TCS and HUL. NSE Nifty surged 337.80 points to 14,845.10.
Beat gains made by mid-cap, broader indices.
Faster account opening, which allows investors to start trading without ever leaving their homes or visiting a physical branch of their local brokerage has played a role in the surge.
Women account for less than 5 per cent of the CEOs in S&P 500 companies.
Global rating agency S&P forecast on Tuesday a slowdown in Indian economy to 8.6 per cent this fiscal due to high interest rates and appreciating rupee but expected no change in key rates and cash reserve ratio in RBI's credit policy on October 30. But the strong domestic demand would ensure that India maintains high growth. The moderation from last year's 9.4 per cent to 8.6 per cent this year therefore reflected a soft landing, S&P said in its mid-year review.
BSE Smallcap index outperformed the frontline indices to rise 0.6%, while the BSE Midcap was flat
The S&P BSE Sensex gained over 100 points and ended at 26147.33 while the CNX Nifty ended 27 points higher at 7,795.75.
The official said the finance ministry will impress upon rating agencies the resolve of the government to contain fiscal deficit at 4.1 per cent this year and lower it to 3 per cent by 2016-17.
Analysts attribute this withdrawal trend to the nervousness ahead of US presidential elections and the fact that the markets raced ahead even as the economic recovery remained fragile back home.
The government is expected to dole out some populist policies, especially for the rural / farm sector while presenting the interim budget, given that the country is heading towards general elections over the next few months.
Liquidity pushed benchmark indices 22% higher to become the best performing equity market globally
L&T was the top loser in the Sensex pack, dropping 4.99 per cent, after the engineering major posted a 45 per cent decline in consolidated net profit for the September quarter. Titan, ONGC, Axis Bank, HUL, NTPC, M&M and HDFC were the other major laggards, shedding up to 3.32 per cent. NSE Nifty fell 58.80 points or 0.50 per cent to 11,670.80.
Investors must adhere to their risk appetite at all times and should do well for themselves over the long-term.
Of these 26, Bajaj Finance, Associated Alcohols and Breweries, Garware Technologies, Filatex India, Tasty Bite Eatables, Aarti Industries and GMM Pfaudler saw an over 10-fold surge in price since 2014.
Monday's drop followed an 8.5 per cent slump in Chinese markets.
HCL Tech and ONGC were the top gainers in the Sensex, rising up to 3.40 per cent.
ITC, Sun Pharma, Cipla and Tata Steel were top gainers on BSE Sensex
FIIs continue to invest in India, with their net investment since September 2013 standing at about Rs 82,000 crore(Rs 820 billion)
The market breadth, indicating the overall health of the market turned negative from positive
Tata Motors (down 1.7%) was the top loser on Sensex and Nifty, while Lupin (1.6%) gained the most.
The best-case scenario -- to which Morgan Stanley attaches 30 per cent probability -- pegs the S&P BSE Sensex at 41,500 levels in the next 12 months.
In terms of stock selection, India continues to benefit from two phenomena - the big getting bigger and availability of quality stocks in relative abundance compared with its Asian peers.
'Our stable outlook currently points to the fact that the ratings are likely to remain stable for the next couple of years.'
Lupin was the top gainer after the USFDA cleared its Goa facility
Global rating agency Standard & Poor's on Thursday warned Asia may see lower growth this year due to adverse impact of oil price pressure and tsunami, but said India will be an 'exception.'
UBS, Credit Suisse see emerging markets doing well next year, but expect India to underperform, given its rich valuations.
Experts say the BSE Sensex could rise to around 32,000 in a year.
India's macroeconomic situation is improving fast and the country's GDP growth will turn positive in the third and fourth quarters of the current financial year, eminent economist Ashima Goyal said on Sunday. Goyal in an interview to PTI said the management of the COVID-19 pandemic and gradual unlocks announced by the government have helped in avoiding multiple COVID-19 peaks. The growth estimates by different agencies are being continuously revised, she said.
India was already in the midst of a protracted economic slowdown before the virus hit due to a festering crisis among shadow lenders and declining consumer demand and private investment. Service sector activity in India is still effectively on hold.
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