Equity benchmarks Sensex and Nifty ended on a mixed note on Wednesday as the euphoria about the Budget fizzled out, with investors going for profit-taking ahead of the Fed interest rate decision. The 30-share BSE benchmark Sensex climbed 158.18 points or 0.27 per cent to settle at 59,708.08 after it trimmed most of the intra-day gains. During the day, it had zoomed 1,223.54 points or 2 per cent to 60,773.44.
Passenger vehicle market leaders Maruti Suzuki and Hyundai on Saturday reported a decline in wholesales in December 2021, although homegrown majors Tata Motors and Mahindra & Mahindra reported growth, amid semiconductor shortage continuing to impact production. Other manufacturers Nissan and Skoda also reported an increase in December 2021 sales although Honda Cars India witnessed a decline last month. The country's largest carmaker Maruti Suzuki India (MSI) reported a 4 per cent fall in wholesales to 153,149 units in December 2021 as against 160,226 units a year ago.
Leading FMCG companies in the country are expecting their sales growth numbers in high double digit in the April-June quarter, a period when the broader market was severely impacted by the second wave of the COVID-19 pandemic. FMCG companies such as Godrej Consumer Products Ltd (GCPL) and Marico, in their quarterly updates to bourses, informed about double-digit sales growth. While Tata Consumer Products Ltd (TCPL) MD and CEO Sunil D'Souza in an interview had told PTI, the Tata Group FMCG firm expects higher growth in the Q1/FY'22 over Q4/FY'21.
Benchmark indices ended on a flat note on Thursday as fag-end selling wiped out intra-day gains amid weak global trends. The BSE benchmark Sensex slipped 8.03 points or 0.02 per cent to settle at 53,018.94. During the day, it had gained 350.57 points or 0.66 per cent to 53,377.54. Similarly, the broader NSE Nifty fell 18.85 points or 0.12 per cent to close at 15,780.25.
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The BSE Sensex maintained its winning run for the fourth session on the trot on Wednesday to reclaim the 60,000-level after a gap of over four months as investors remained upbeat amid softening crude oil prices and persistent foreign fund inflows. A strengthening rupee and positive Asian markets further bolstered sentiment, traders said. The 30-share BSE benchmark jumped 417.92 points or 0.70 per cent to settle at 60,260.13 -- closing above the psychologically key 60,000-mark for the first time since April 5 this year.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Benchmark indices failed to hold on to early gains and closed in the red for the seventh straight session on Thursday, with participants remaining in wait-and-watch mode ahead of the RBI's interest rate decision. Unabated selling by foreign funds added to the pressure, though a modest recovery in the rupee cushioned the fall, traders said. After rallying in early trade, the 30-share BSE Sensex came under selling pressure in the afternoon session and closed 188.32 points or 0.33 per cent lower at 56,409.96.
Invest in quality companies that make profits, advises stock market expert and rediffGURU Samraat Jadhav.
Equity indices overcame a wobbly start to clock gains for the third session on the trot on Tuesday, propped up by banking, metal and energy stocks amid a mixed trend in global markets. A recovery in the rupee also bolstered sentiment, traders said. The 30-share BSE Sensex advanced 246.47 points or 0.45 per cent to settle at 54,767.62 after starting the trade on a weak note. In a volatile session, the benchmark hit a high of 54,817.52 and a low of 54,232.82 during the day.
BSE benchmark Sensex nursed losses on Friday as investors pocketed gains after a five-session winning streak amid a bearish trend overseas. A depreciating rupee and foreign fund outflows further soured risk sentiment, traders said. The 30-share gauge, which had started the trade on a firm note, soon gave up all the gains and finally ended 651.85 points or 1.08 per cent lower at 59,646.15. The broader NSE Nifty snapped its eight-day rally to close at 17,758.45, down 198.05 points or 1.10 per cent.
Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices. The 30-share BSE Sensex opened strong and gained momentum as the session progressed, but came under severe selling pressure in afternoon trade to close 37.78 points or 0.07 per cent lower at 54,288.61. On similar lines, the broader NSE Nifty slipped 51.45 points or 0.32 per cent to end at 16,214.70.
Equity indices made an emphatic comeback on Friday after falling for seven straight sessions after the RBI hiked interest rates by 50 basis points on expected lines and projected inflation coming under control from January next year. A strong recovery in the rupee added to the momentum, traders said. Overcoming a wobbly start, the 30-share BSE Sensex soared 1,016.96 points or 1.80 per cent to settle at 57,426.92. During the day, it rallied 1,312.67 points or 2.32 per cent to 57,722.63.
In a year when the country produced record coal, rains hit movement of the fuel from mines to power generation units, impacting power generation in many states, including Gujarat, Punjab, Rajasthan, Delhi and Tamil Nadu.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Sliding for the fourth straight day, the BSE Sensex shed 152 points in choppy trade on Wednesday amid mixed global cues ahead of the US Federal Reserve's policy decision.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Equity benchmarks mustered gains for the first time this week on Thursday as investors piled into the recently-battered metal, bank and IT stocks amid expiry of monthly derivative contracts. Snapping its three-session losing streak, the 30-share BSE Sensex rallied 503.27 points or 0.94 per cent to settle at 54,252.53. On similar lines, the broader NSE Nifty gained 144.35 points or 0.90 per cent to end at 16,170.15.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra, vice president, research, Religare Broking, answers your queries.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In a suit filed against Tata America International Corporation (TAIC) and its parent corporations -- TCS and Tata Sons Ltd -- on Tuesday, Gopi Vedachalam, contends he was instructed to sign over his federal and state tax refund checks to TCS.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries.
Richest Indian Gautam Adani's ports-to-power-to-cement conglomerate is "deeply overleveraged" with the group predominantly using debt to invest aggressively across existing as well as new businesses, CreditSights, a Fitch Group unit, said on Tuesday. In a report titled 'Adani Group: Deeply Overleveraged', CreditSights said, "In the worst-case scenario, overly ambitious debt-funded growth plans could eventually spiral into a massive debt trap, and possibly culminate into a distressed situation or default of one or more group companies." Starting out as a commodities trader in the late 1980s, the Adani group has diversified from mines, ports and power plants into airports, data centers and defence.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
Ajit Mishra answers reader queries on the stock market.
Benchmark stock indices Sensex and Nifty tumbled nearly 1 per cent on Wednesday due to profit booking in banking, financial and IT stocks after a recent rally. The 30-share BSE Sensex plunged 537.22 points or 0.94 per cent to end at 56,819.39 as 24 of its stocks declined. During the day, it tanked 772.57 points or 1.34 per cent to touch a low of 56,584.04. The broader NSE Nifty declined by 162.40 points or 0.94 per cent to 17,038.40 with 39 of its constituents ending in the red. Bajaj Finance was the biggest loser among Sensex stocks, dropping by 7.24 per cent.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
In 2010, R Power acquired 100 per cent economic interest in three coal mining concessions in Indonesia
Reliance Infocomm has offered 83 paise per minute across five sectors, including the United States and Canada.
Several leading industrialists, including Reliance Industries CMD Mukesh Ambani, Vedanta Resources Limited executive chairman Anil Agarwal, chairman emeritus of Tata Sons Ratan Tata, Mahindra Group chairman Anand Mahindra, Paytm Founder and CEO Vijay Shekhar Sharma, Welspun Group chairman and Assocham president B K Goenka, attended the swearing-in ceremony.
Govt to play enabler not handler, India never had more decisive government: PM Modi Prime Minister Narendra Modi on Monday cited his dispensation's push for wide-ranging reforms, including the privatisation of Air India, to assert that the country never had a more "decisive government". Launching the Indian Space Association (ISpA), an industry body aspiring to be the voice of the country's space sector, Modi noted that fields like mining, coal, defence and space have been opened to private players, and said his government's clear policy about public sector enterprises is to open those to private industry where its presence is not required. While opening a host of sectors, the government has built a regulatory environment in which priority has been given to national interest as well as the interests of different stakeholders, he said.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
UCPL is a joint venture company between Voltas and Fedders International Air-conditioning Pvt Ltd, a subsidiary of US-based Fedders Corporation. Fedders has agreed to divest its 50 per cent shareholding in UCPL for Rs 7.5 crore (Rs 75 million) to Voltas, the air condition and cooling product making company said in a communique to the Bombay Stock Exchange.
Videsh Sanchar Nigam Ltd is opting for new business models including Internet Protocol based Virtual Private Network, Microprotocol Label Switching services.
Other shortlisted chief executives include Abdulrahman Ali Al-Abdulla of Muntajat, Peabody Energy's Gregory Boyce, Pailin Chuchottaworn of PTT Public Company Ltd, Repsol's Antonio Brufau and Ian Taylor of Vitol.
