Contrary to usual practice, the new Samvat year, the most auspicious day for Indian business, will start from home this year, as traders have downed their shutters across the country to protest against value added tax system
If GDP growth in Q2FY18 remains below 7%, the outlook for Samvat 2074 would remain uncertain at best, says Nitin Desai.
Price up on weak dollar and strong demand
Samvat 2070 was a great year for top Indian conglomerates in the stock markets.
Investors were seen in a cheerful mood and widened their positions in frontliners as well as midcap and smallcap stocks to mark the beginning of their new accounts
Reflecting the bullish mood, all sectoral indices ended with gains, led by auto, oil and gas, FMCG, IT and teck. The broader NSE Nifty, after crossing the 10,600-mark, settled 68.40 points, or 0.67 per cent higher at 10,598.40.
As a new Samwat year begins tomorrow on Diwali, the stock market is looking up to prosperous gains after an increase of over Rs 5 lakh crore in the overall investor wealth over the past year.
But much depends on govt action & global economy; Sensex gains in 2070 the biggest in five years
The unprecedented global recession had forced the central banks into a fire-fighting mode, cutting interest rates and infusing liquidity into the economic system. The global markets began to find their feet. And the Indian markets were among the leaders.
The Nikkei share average rose 2.6% to close at 15,195.77 points, more than recouping Tuesday's losses.
Investors became richer by Rs 8,19,804 crore in Samvat 2069, aided by a hefty 13.5 per cent gains notched by benchmark Sensex during the Hindu calendar year.
Stocks lead the chart with 50 per cent returns, followed by real estate and gold. The markets may be expecting a correction now, but the year has been a spectacular one for those who had put money in stocks. Equities gave a return of 49.64 per cent, the same as in the last three years.
The benchmark Sensex gained 4,642.84 points, or 16.%, while the broader NSE Nifty surged 1,572.85 points, or 18.20% during this period.
Gold prices shone smartly to end higher by Rs 245 on the very first day of Samvat year 2065 following fresh demand from investors on the festive season of Diwali amid positive global cues.
The Bombay Stock Exchange 30-share index resumed better at 21,278.08
The next 12 months will be quite challenging marked by uncertain political events and evolving macroeconomic scenario
At first glance, the last samvat the year as reckoned by the lunar calendar, from one Diwali to the next has seen decent gains for equity investors.
Samvat 2069, which will run till next Diwali, is likely to see smart gains in the Indian benchmark indices with the Sensex likely to surpass 20,000-mark and trade in the range of 22,000-24,000 zone over the next one year, say experts.
Samvat 2072: Auto sector could see faster recovery
This Vikram Samvat year 2070, ending on Thursday, has proved the worst in 17 years in terms of return on investment in gold.
After lifting the Sensex 60 points to 18,732.71 at the outset, the momentum evaporated.
While Rakesh Jhunjhunwala is up 14.9% during the year to Rs 12,381 cr, Ashish Dhawan is up 68.4% to Rs 810 cr, Ashish Kacholia is down 23.4% to Rs 515 cr, Rajiv and Dolly Khanna are down 74.6% to Rs 116 cr and Vijay Kedia is down 6.2% to Rs 294 cr.
The broad-based National Stock Exchange index Nifty rose by 10.15 points
Sensex closed 63.82 points higher at 26,851.05 in Muhurat trading; Nifty rises 18.65 points to end at 8,014.55.
Equity markets would take cues from domestic inflation data announcement, global trends and trading activity of foreign investors in a holiday-shortened week ahead, analysts said. Markets would remain closed on Tuesday for 'Diwali Balipratipada'. "As we enter a truncated week with Muhurat trading on Sunday, global cues will play a pivotal role in shaping the market direction.
The rally in most of these stocks is partly attributed to impressive financial performance.
'Calendar year 2023 is going to be big as pessimism takes a back seat.'
In the ancient world there is a great deal of give and take and reciprocal learning. India was an integral and important constituent of such interchanges of goods and ideas.
Equity benchmarks ended lower on Tuesday, putting a break to their seven-day rally, amid weak Asian market cues and mixed trends from European stocks. The 30-share BSE benchmark failed to hold on the early gains and declined 287.70 points or 0.48 per cent to finish at 59,543.96. During the day, it hit a low of 59,489.02 and a high of 60,081.24.
Domestic markets conduct a special one-hour Muhurat trading session on Diwali every year to mark the beginning of the traditional Hindu calendar year, called 'Vikram Samvat'.
'Investors should keep them on their radar and invest over a longer time frame, and expect some of these companies to bite the dust.'
Dhanteras has cheered up jewellers as it has turned out to be the best in three years, thanks to the lower price of the yellow metal and pent-up demand. In Mumbai's Zaveri bazaar, buyers came in out force and jewellers did not have to depend on freebies to induce sales, even though all of them had announced some offers. In fact, more discounts were announced for diamond and studded jewellery.
This wonderful-tasting gluten-free dosa is made with samo rice and sabudana.
Global trends, the last batch of Q2 earnings and domestic macroeconomic data will dictate terms in the equity market, which had an extended weekend last week, analysts said. "FIIs' behaviour along with inflation numbers from US and China will remain key factors for this week. After an extended weekend, Indian markets are likely to start a fresh week with a positive note on the global backdrop. "However, there is a risk of selling pressure at higher levels as we are underperforming the global peers where the near-term texture has changed to 'sell on rise' from 'buy on dip'," Santosh Meena, head (research) at Swastika Investmart Ltd, said.
Sensex zooms 200 points in Muhurat trading, Nifty regains 7,800.
Trading in Samvat 2074 on Thursday got off to a rocky start, with the benchmark indices ending more than half a percent lower and the gauge for banking stocks dropping 1.25%.
Samvat 2062 is set to end with a bang. What can investors expect?
Silver gained 0.20 per cent to Rs 50,276 per kg in special Muhurat trading on the Multi Commodity Exchange (MCX) today as participants built new positions to mark the start of Samvat year 2070.
Gold rose 0.38 per cent to Rs 29,435 per ten grams in special Muhurat trading on the Multi Commodity Exchange on Sunday as participants created positions to mark the start of Samvat year 2070.
The broad-based Nifty slipped below the 8,600-level by losing 24.60 points, 0.28 per cent, to 8,590.65
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