The broad market depicted strength. 1,525 shares rose and 1,131 shares fell. A total of 156 shares remained unchanged
But his opponents are making a mistake. They shouldn't be smug, argues Vir Sanghvi.
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
At the current market price of the stock, that stake would be valued at about $1.5 billion.
The markets have opened on a lacklustre note in the absence of major cues from the US markets that were closed on account of Independence Day holiday. The Sensex is down 15 points at 17,448. Nifty is flat at 5299.
The broader market outperformed the benchmark indices as focus shifted to value buying in mid-cap and small-cap shares after the sharp gains on Friday. The Sensex was down 31 points at 17,399 and the Nifty closed flat at 5,278.
'If global growth continues to be sluggish, India instead could potentially take a bigger piece of a shrinking pie,' says Prachi Mishra, managing director, Global Macro Research, and India chief economist, Goldman Sachs.
BSE IT index was the biggest sectoral loser, down 1.5% dragged by TCS
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
A market index rises when people with deeper pockets (not necessarily a larger number of people) bet that shares will rise in value.
A market index rises when people with deeper pockets (not necessarily a larger number of people) bet that shares will rise in value.
From spending a little less than three hours on making voice calls, Indians are spending well over 5 hours. So, while people make more calls, they are spending less than ever, reports Romita Majumdar.
The breadth, indicating the overall health of the market, turned negative. On the BSE, 1,581 shares declined and 1,246 shares fell. A total of 165 shares were unchanged.
Investors widened their bets on optimism that upcoming general budget -- to be unveiled next month - would contain incentives for corporates, which will help boost the economy
This is the first time, since the JDU-BJP alliance came to power in 2005, that the saffron party has staked claim for the speakers post.
Broader market outperformed the headline indices with BSE Midcap and Smallcap finishing the day 1.22%, and 1.54% higher, respectively
The markets opened in red on the back of weak Asian cues
In terms of viewership, the IPL even outperformed some of the pay-per-view matches of the Premier League in Britain.
Kotak Bank was the top gainer in the Sensex pack, ending 4.31 per cent higher. PowerGrid, TCS, ICICI Bank, SBI, HCL Tech, NTPC, Infosys, Bajaj Finance, HDFC duo, ONGC, Vedanta and IndusInd Bank too rose up to 2.84 per cent.
Geopolitical concerns, earnings sees investors rush to safe haven plays post the Union Budget presentation in July.
Among PSBs, the top gainers have been Union Bank of India and Corporation Bank, whose shares have rallied more than 15% each. Indian Bank and Bank of Baroda, too, registered double-digit rise
In line with Sensex, the broader indices also saw hefty losses. Large cap index tumbled 0.79 per cent, midcap 0.87 per cent and smallcap 0.57 per cent.
The market breadth, indicating the overall health of the market was strong
Gold funds have returned -5.2 per cent, while the Sensex is down 7 per cent in the past year.
Multiple triggers such as asset sales, pickup in energy cash flows, increased traction in omni-channel retail, and rise in ARPUs could further drive the stock.
This is the sixth consecutive markdown in the valuation of Flipkart by the US firm.
Cement shares have been outperformers on the stock market
S&P BSE Midcap and the S&P BSE Smallcap indices gained 2% and 1.6% respectively
The market breadth, indicating the overall health of the market, turned negative from positive
ICICI Bank topped the Sensex gainers' chart, spurting 5.09 per cent, followed by L&T, Bharti Airtel, Vedanta and Tata Motors, rising up to 4.60 per cent.
The market breadth, indicating the overall health of the market, was positive
After the easing of lockdown in mid-May, auto companies were able to resume production in a phased manner, but the ramp-up was slow due to a broken supply chain, and lockdown-induced restrictions.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
Purnendu Maji and Srinivas Bhogle list IPL 2021's 50 Most Valuable Players up to Game 29.
BHEL down around 2.4% and Bharti Airtel down around 1.6% were other major losers.
Being one of the early commentators to flag economic slowdown and caution investors on corporate earnings, Gautam Chhaochharia, head of India research, UBS Securities, in an interview with Hamsini Karthik says the markets remain in an expensive zone despite the recent correction.
Equity fund managers' other favourites are software stocks followed by pharma, finance and consumer non-durables
Covering-up of pending short positions on expiry of the July derivatives contracts and a strengthening rupee propped up the markets at high levels
Stocks from the food processing sector and of companies trading in rice, dairy products, edible oils and food items outperformed markets by gaining 10-50 per cent.
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