Investors' wealth slumped over Rs 8.77 lakh crore on Monday as concerns over surging COVID-19 cases in the country roiled the equity market. The 30-share BSE benchmark index plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. During the day, it nosedived 1,897.88 points to 47,693.44. Tracking losses in equities, the market capitalisation of BSE-listed companies eroded by Rs 8,77,435.5 crore to Rs 2,00,85,806.37 crore.
The move assumes significance as the government decided to go ahead with the formation of the search committee despite Congress leader in Lok Sabha, Mallikarjun Kharge, boycotting meetings of the Lokpal selection panel.
'Investors should allocate about 5% to 10% to such funds.'
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
While HDFC Bank has vowed to recoup its lost market share in the credit card segment in three to four quarters by aggressively sourcing new cards, brokerages believe it is a little hard to come by, given how competitive the landscape has become, with other players in the market becoming equally aggressive to gain market share. Kotak Institutional Equities in its report on Monday said, "We would like to believe that the recovery in market share is likely to be gradual, if any. "All the key players, including Axis Bank, are now willing to expand their credit card portfolios as they have tested quite well against Covid-19."
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Bajaj Finance was the top gainer in the Sensex pack, climbing over 5 per cent, followed by Kotak Bank, SBI, PowerGrid, Axis Bank, HDFC Bank and Reliance Industries. On the other hand, HUL, Bharti Airtel, TCS, ONGC and Maruti were among the laggards.
While Bajaj Finance, Asian Paints, Tata Steel, NTPC and SBI were among the other gainers, ONGC, Axis Bank, Tech Mahindra, Infosys and ICICI Bank were among the laggards. NSE Nifty advanced 82.75 points or 0.73 per cent to settle at 11,470.25.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Nikunj Saraf, Vice President Choice Wealth, answers your queries
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
Ajit Mishra answers reader queries on the stock market.
The 30-share BSE benchmark tanked 535.57 points or 1.13 per cent to close at 46,874.36 on Thursday. It has now lost 2,917.76 points in five days.
Tata Steel was the top gainer in the Sensex pack, rallying 5.14 per cent, followed by Bharti Airtel, HDFC, TCS, L&T, SBI and Reliance Industries.
Investors have lost over Rs 5.55 lakh crore in four days of declines in the domestic equity markets. Rising domestic COVID-19 cases and selling in RIL and banking stocks dragged down the 30-share BSE Sensex by 562.34 points or 1.12 per cent to 49,801.62 on Wednesday. In four days, the benchamark has fallen by 1,477.89 points or 2.88 per cent. The market capitalisation of BSE-listed companies has tanked by Rs 5,55,400.52 crore in four days to reach Rs 2,03,71,252.94 crore.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Shares of the HDFC duo led the fall in the indices, shedding up to 2.94 per cent. IndusInd Bank, Axis Bank, Maruti, Bajaj Finserv, PowerGrid and SBI were among the other major laggards.
NTPC was the top gainer in the Sensex pack, rallying nearly 6 per cent, followed by ICICI Bank, Titan, L&T, SBI, Sun Pharma and Nestle India. On the other hand, HCL Tech, Kotak Bank, Tech Mahindra, Hero MotoCorp and Infosys were among the laggards.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Axis Bank was the top loser in the Sensex pack, dropping around 5 per cent, followed by Tech Mahindra, SBI, L&T, IndusInd Bank, Infosys and NTPC. On the other hand, HDFC Bank, HUL, Kotak Bank and Bharti Airtel were among the gainers.
ONGC was the top loser in the Sensex pack, shedding around 5 per cent, followed by SBI, Axis Bank, ICICI Bank, Bajaj Auto and Maruti. On the other hand, IndusInd Bank, HUL, Dr Reddy's, NTPC and Reliance Industries were among the gainers.
At a time when banks are engaged in a fierce battle to gain market share in the credit card segment, Citibank India has been losing its share, both in terms of outstanding cards and spends in the last few years. Still, average spends on Citi cards are higher than any other Indian bank. Last year, the global banking behemoth announced exit from its consumer banking franchises in 13 markets across Europe, Middle East and Asia, including India, citing lack of scale.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
RIL was the biggest gainer in the Sensex pack, rising 2.63 per cent, followed by NTPC, Axis Bank, Tata Steel, PowerGrid, HDFC twins, Bharti Airtel, M&M, ICICI Bank, SBI and Bajaj Finance -- gaining up to 2.51 per cent.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
Top losers in the Sensex pack included IndusInd Bank, Yes Bank, SBI, L&T, Tata Steel, M&M, Bajaj Finance, Vedanta, Tata Motors and RIL, tumbling up to 6.97 per cent.
HDFC Bank was the top loser in the Sensex pack, shedding over 2 per cent, followed by Kotak Bank, Bajaj Finserv, Maruti, Titan, SBI, HUL, HDFC and Tata Steel. On the other hand, Bharti Airtel, M&M, NTPC, Tech Mahindra, Sun Pharma and PowerGrid were among the gainers.
The Reserve Bank of India's (RBI's) move to ban Mastercard from issuing new cards for not complying with the local data storage guidelines may hit five private banks, a non-bank lender, and a major card-issuing company. The impact is expected to be felt for a few months as these players transition to other card networks. According to Nomura Research, RBL Bank, YES Bank, and Bajaj Finserv are the ones most impacted by the ban as all their credit card schemes are allied to Mastercard. Among others, IndusInd Bank, Axis Bank and ICICI Bank have 35-40 per cent of their credit card schemes tied to Mastercard, the report said.
Domestic equity benchmarks ended marginally higher on Thursday, with the Nifty settling at a fresh record, amid mixed cues from global markets.
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.
Yes Bank topped the gainers' list on the Sensex. It was followed by HDFC, Bajaj Finance, HDFC Bank, ICICI Bank, L&T, SBI, Axis Bank and Kotak Bank -- rallying up to 5.24 per cent.
Nikunj Saraf, Vice President Choice Wealth, answers your queries.
SBI was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Kotak Bank, Axis Bank, Bajaj Auto, Tech Mahindra, UltraTech Cement and PowerGrid. NSE Nifty rose 36.40 points to 15,337.85.
Ajit Mishra answers reader queries on the stock market.
The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
All Sensex components ended in the red. SBI was the top loser, followed by ONGC, Axis Bank, ITC, Titan, Bajaj Auto, TCS and IndusInd Bank.
Bajaj Finance was the top loser, tumbling 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech. NSE Nifty crashed 290.70 points or 2.43 per cent to 11,680.35.
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