Sarao was described as a fun guy, outgoing and talkative by other members of the tight knit South Asian community.
Axis Bank was the top loser in the Sensex pack, shedding over 4 per cent, followed by Asian Paints, SBI, IndusInd Bank, ICICI Bank, Bajaj Finance, HDFC and Reliance. On the other hand, Bajaj Auto, Hindustan Unilever, UltraTech Cement, TCS, Bajaj Finserv and Infosys were the gainers.
The total investor wealth, measured in terms of cumulative value of all listed stocks on BSE, slumped by over Rs 7 lakh crore during the torrid week.
Do not decide your investments based on election results.
Experts believe volatility is here to stay for some time, at least till China stabilises and clarity regarding the US Fed's interest rate move emerges.
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
A rising rupee is a tailwind for dollar investors.
Overall forex market sentiment remained cautious
A joint forum of central trade unions has given a call for a nationwide strike on March 28 and 29, to protest against government policies affecting workers, farmers, and people. The Joint Platform of central trade unions held a meeting in Delhi on March 22, 2022, to take stock of the preparations in various states and sectors for the proposed two-day all India strike on 28-29 March 2022 against "the anti-worker, anti-farmer, anti-people and anti-national policies" of the central government, a statement said. The statement said that roadways, transport workers and electricity workers have decided to join the strike in spite of the impending threat of ESMA (Haryana and Chandigarh, respectively). Financial sectors, including banking and insurance, are joining the strike, it stated.
The Indian startup ecosystem recently celebrated the 100th unicorn milestone. It came after a month of no big fund announcements. Compare this to 2021, when three to four unicorns were being added every month. Nevertheless, the 100th unicorn needs to be celebrated since the first unicorn was announced in 2011 - 11 years ago.
Investors need to evaluate the offerings of a broker in totality before selecting one.
Sudhanshu Singh, director IBBM, MM Securities, answers your mutual fund queries.
The global COVID-19 situation, rollout of vaccines, geopolitical trends, Union Budget and economic recovery would be the major factors driving investor sentiments in 2021 after a tumultuous year which saw both 'the worst of times and the best of times' for the stock market, said analysts. What a year 2020 turned out to be! From witnessing gigantic losses to record-shattering gains, investors went on a roller-coaster ride amid the coronavirus pandemic and massive stimulus measures. Markets closed 2020 with remarkable gains of around 16 per cent, but will the winning ways continue in 2021 as well?
The Sensex has crashed in the opening bell by dropping 128 points to 6,340 over its last close. While further selling has dragged it to a low of 6,300, the Sensex is now down 154 points at 6,314
The rupee on Monday plunged to a two-week low of 66.61 by falling 47 paise against the US dollar on heavy demand for the American currency from importers.
SBI had a bad day, sliding the most by 5.36%. Others that dragged the key indices down were M&M, Reliance Industries and L&T.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
"You will see further improvement after an immediate reaction and the markets will calm down," says Vikas Khemani.
It is useful to note that Indian markets have not gone into a tailspin as the Greece crisis has developed, says Devangshu Datta.
Falling valuations, slowing funding rounds and faltering investor sentiment seem to have prompted many start-ups to lay off employees in a bid to conserve cash. The latest to do so is SoftBank-backed Cars24, a leading e-commerce platform for pre-owned vehicles, which has laid off over 600 staff, according to sources in the know. The move, they said, is aimed at conserving cash amid cautious investor sentiment and a slowdown in funding.
The Sensex closed at 13,399.43 down down 400.06 points or 2.90% at 13399.43, and the Nifty down 112.50 points or 2.84% at 3849.5.
The index finally settled with a huge loss of 307 points (2.6%) at 11,356.
'The only thing that is safe right now are government securities.'
The Sensex, on the back of selective buying in techs, PSUs and other old economy counters, is now up 12 points at 5,863. The Nifty is up four points at 1,857.
The Sensex closed down 349.08 points or 2.54% at 13,382.01, and the Nifty down 96.75 points or 2.46% at 3,832.
Trading volumes in the currency segment today fell nearly 50 per cent and 40 per cent on the National Stock Exchange (NSE) and the MCX-SX, respectively. This followed a levy of stamp duty by the Delhi government on proprietary trades, say market players. Brokers say the consequence of this will also be felt in equity and commodity segments, as Delhi-based jobbers and arbitrageurs will be hit.
Cost is not the only factor that one should look at. It's best to keep investment and insurance apart
In essence, follow the private-equity approach to personal investing and treat each investment decision as if it is a matter of life-or-death, because it is, suggests Avinash Luthria.
Investors lost as much as 20 per cent of their money put into equity focused mutual funds over the past one month as the benchmark stock index Sensex dropped about 11 per cent during the same period.
Sectorally, telecom, realty, auto and banks were among the top losers, shedding as much as 2.22 per cent.
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
Leading the Opposition attack over the Adani-Hindenburg issue in the Lok Sabha, Rahul Gandhi on Tuesday linked Gautam Adani's meteoric rise to Prime Minister Narendra Modi's coming to power and said "magic" happened after 2014 that propelled the businessman from the 609th to the second spot on the global rich list.
After years of living with his family in a poky 110 sq. ft. 'house', textile worker Sambhaji Surve dreams of moving into a home four times the size once the Maharashtra government starts its ambitious redevelopment of the 39-acre Kamathipura shanty town in south-central Mumbai. Sharing his dream are about 8,000 other families hoping for a better life when the redevelopment project, part of the government's effort to redevelop old settlements and make life more livable for some residents, gets underway. The Shiv Sena-Nationalist Congress Party aims to redevelop BDD Chawl and Dharavi but for Surve all the matters is Kamathipura where he arrived in the 1970s from Nasik to work in a textile mill. Kamathipura was originally built 150 years ago following construction of a causeway to connect the seven islands of Mumbai. From the British Raj to post-independence, it became infamous for slums and brothels.
Dr Reddy's was the top loser in the Sensex pack, shedding around 5 per cent, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS. NSE Nifty sank 306.05 points to finish at 14,675.70.
The stock was the worst hit among the blue-chips on both BSE and NSE.
'The growth drivers are mostly invisible, but the growth is undeniable at least for now,' notes Debashis Basu.
The country has already laid down a 'red carpet' for businesses.
Though valuations have moderated, they are still above average.
All Sensex components ended in the red. IndusInd Bank was the top loser, followed by Tata Steel, HDFC, ICICI Bank, Axis Bank, Infosys and ITC. According to traders, volatility heightened in global markets as US Federal Reserve's interest rate cut stoked concerns over an impending economic recession.
So unless you are convinced of getting your market timing absolutely bang on everytime, opting for SIPs is more realistic from a logistical and psychological standpoint, says Larissa Fernand
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