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.
Modi tweeted that the meeting discussed important issues related to the progress of vaccine development, regulatory approvals and procurement.
A team at Bristol University used recently developed techniques to validate that the vaccine accurately follows the genetic instructions programmed into it by the Oxford University team.
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 broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
Top gainers in the Sensex pack included Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel, HUL, Vedanta, Tata Motors, ICICI Bank, ITC, HDFC and Bajaj Auto, that rose up to 3.75 per cent.
Investor wealth has jumped by over Rs 12.31 lakh crore in three days, taking the market capitalisation of all BSE-listed companies to a record Rs 198.43 lakh crore on Wednesday as equities continued their Budget-driven rally. The BSE benchmark Sensex closed above the historic 50,000 mark for the first time ever on Wednesday. The 30-share benchmark closed with a gain of 458.03 points or 0.92 per cent at 50,255.75. During the day, it zoomed 728.67 points to its lifetime high of 50,526.39. In three trading days, the benchmark has gained 3,969.98 points or 8.57 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'Returns can be very variable in equity markets.' 'That is why I tell small investors don't put 100 per cent of your money in equities, even if you are young.'
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
Ajit Mishra, vice president, research, Religare Broking, answers your stockmarket queries.
'Even if Serum Institute and Bharat Biotech were successful in ramping up production overnight, what happens to the capacity after the demand from India is met?' asks Sanjeev Nayyar.
Of the 23 Indian billionaires mentioned in the Bloomberg Billionaires Index, only one saw a reduction in net worth, with the companies owned by most of them outperforming the Nifty 50 index by a big margin.
Infosys was the top gainer in the Sensex pack, rallying around 7 per cent, followed by TCS, IndusInd Bank, ONGC, HDFC Bank and HCL Tech. On the other hand, ITC, Bajaj Finance, Kotak Bank and Sun Pharma finished in the red.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
India's equity markets are on a roller-coaster ride, after delivering spectacular returns for two consecutive years - in 2020 and 2021. The benchmark National Stock Exchange's (NSE's) Nifty50 is down 1.5 per cent in the first nine months of the current calendar year 2022 (CY22) as foreign portfolio investors sold Indian stocks due to rising bond yields in the US and across global markets, including India. The sell-off in the Indian equity markets has, however, not been broad-based and largely limited to sectors facing earnings headwinds from rising interest rates, lower commodity and energy prices, and likely economic recession in advanced economies.
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.
On the Sensex chart, Bajaj Finance, Bajaj Finserv, HCL Tech, Tech Mahindra, Infosys, HDFC Bank and ICICI Bank were among the prominent gainers.
The broader NSE Nifty, on the other hand, ended 2.70 points, or 0.02 per cent, lower at 11,555.90 in its third straight day of losses.
Pharma was the top losing index amid worries about their earnings outlook with Lupin down over 4%
TCS was the top gainer in the Sensex pack, rising over 3 per cent, followed by L&T, Bharti AIrtel, HCL Tech, Tata Steel, Bajaj Auto and Reliance Industries. NSE Nifty rallied 164.70 points to its fresh closing peak of 16,529.10.
Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel.
Prime Manmohan Singh on Thursday sought Chinese investments in manufacturing and infrastructure sectors in India and called for market access in China for Indian IT and Pharmaceutical firms.
Sustained foreign fund inflows and strengthening rupee are among the main reasons behind the market rally.
Yes Bank was the top gainer in the Sensex pack, rallying 6.74 per cent, followed by TCS, Tata Motors, Bharti Airtel, M&M and RIL.
The current crisis has forced the government to announce measures to ensure that India becomes self-sustaining for any kind of bulk drug. The government says India will not depend on any other country for vital key ingredients for drugs within six years, reports Sheela Bhatt.
In the Sensex pack, ICICI Bank emerged as the top gainer by rising 0.97 per cent, while Tata Steel advanced 0.92 per cent.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
Stock markets squandered early gains but managed to end in the green on Friday, propped up by heavyweight Reliance Industries which announced another stake sale deal for its digital platform. A strengthening rupee and firm global cues also supported the domestic bourses, traders said.
Sun Pharma was by far the biggest gainer in the Sensex pack, surging 8.13 per cent, followed by Dr Reddy's at 4.92 per cent.
The NSE Nifty, which dipped below the key 10,800-mark to touch a low of 10,755.40, bounced back on late buying to close at 10,817.70, up 9.65 points, or 0.09 per cent.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your stock market queries.
'We are going to be overwhelmed by the need for hospital beds. There are simply not enough beds in government hospitals.' 'We will need a large number of medical professionals and without the private sector's involvement, the government won't be able to expand capacity.'
India procured around 5 lakh rapid antibody test kits from the two Chinese firms, Guongzhou Wondfo Biotech and Livzon Diagnostics, and they were distributed to several states reporting rising cases of the coronavirus infection.
Neither pharma nor IT would have become the stars of the economy without the active but largely invisible hand of the Indian State, says Ajit Balakrishnan.
Strong gains in metal, energy, auto and power shares lifted the key indices to new highs.
Patent filings in India would be more and more driven by new technologies, which are either kept secret or patented.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
At the BSE, 1,964 stocks declined and 871 advanced while 99 remained unchanged.
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