Benchmark stock indices opened the week on a muted note on Monday, with the Sensex plunging nearly 483 points due to selling in IT, capital goods and banking shares amid losses in global equities. The Sensex tanked 482.61 points or 0.81 per cent to settle at 58,964.57. During the day, it tumbled 552.78 points or 0.92 per cent to 58,894.40. The 50-issue Nifty declined by 109.40 points or 0.62 per cent to finish at 17,674.95 as 29 of its stocks declined.
Benchmark indices rallied on Thursday with the Sensex and Nifty climbing nearly 2 per cent, helped by heavy buying in Bajaj Finance shares amid a mixed trend in the global equity markets. The 30-share BSE benchmark jumped 1,041.47 points or 1.87 per cent to settle at 56,857.79. During the day, it rallied 1,097.9 points or 1.96 per cent to 56,914.22. The broader NSE Nifty advanced 287.80 points or 1.73 per cent to 16,929.60.
Fitch Ratings on Tuesday retained India's economic growth forecast at 7 per cent for the current fiscal, but cut projections for the next two financial years saying the country is not impervious to global developments. In its December edition of the Global Economic Outlook, Fitch projected India's GDP to grow at 7 per cent in the current fiscal, at a slower rate of 6.2 per cent in 2023-24 and at 6.9 per cent in 2024-25. In September, Fitch projected 7 per cent growth for the current fiscal, followed by 6.7 per cent in 2023-24 and 7.1 per cent growth in 2024-25.
US brokerage Bank of America-Merrill Lynch on Tuesday said its sees the first rate cut this fiscal only in March next as inflation is expected to fall only by December end on a decline in commodity prices driven by the US Fed tapering.
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.
Benchmark indices rallied for the eighth day running on Thursday, ending at fresh record closing highs, amid firm global market trends and continuous foreign fund inflows. Buying in IT counters also added to the momentum.
US job growth increased at a fairly brisk clip in October and the unemployment rate fell to a fresh six-year low of 5.8 per cent, underscoring the economy's resilience in the face of slowing global demand.
As FY20 Budget fiscal measures need to be better understood, a reversal of the stance back to neutral will allow MPC flexibility to respond to incoming data.
Although the fall has been very steep on Thursday, but the fall in the Indian market in the last one week has been lesser as compared with a fall in the other emerging markets like Brazil, Russia and Mexico.
A fall presents an opportunity to buy rate-sensitive stocks.
'As we expect the economy to continue to grow above the trend line, we expect capex decisions to be taken next year when there is more certainty about the cost of funding and the economy.'
With home loan rates headed north, experts advise how borrowers should cope with their rising liabilities.
High frequency indicators suggest that a growth recovery is underway, but very tentatively and with weak legs, says Saugata Bhattacharya.
Interest rates still aren't low enough to stimulate the U.S. economy. Washington needs to engender more inflation so "real" rates turn substantially negative
Sam Bahadur is a mechanical summary of his life, ticking off one chapter after another without bothering to pause or ponder over their significance and influences, observes Sukanya Verma.
A day after a record-breaking run, stock prices continued to soar on Wednesday amid expectations of better-than-expected earnings by IT bellwether Infosys Technologies on Thursday.
Who benefits, who loses from the rising rupee, while a boon for travellers and students, exporters may find themselves facing a greater disadvantage.
Markets ended lower on Tuesday, snapping a two-day winning streak, as investors turned cautious and booked profit in financials.
Bhanu Baweja of UBS believes that the rupee is not far from touching 38-38.50 per dollar levels. He says the rupee will continue to be used as a tool to contain inflation.
Kotak Mahindra Bank was the biggest loser from the Sensex pack, skidding 1.83 per cent, followed by Axis Bank, NTPC, Hindustan Unilever, ICICI Bank, Bharti Airtel, Reliance Industries, HCL Technologies, IndusInd Bank and Nestle. In contrast, Bajaj Finance, Bajaj Finserv, Tech Mahindra, Tata Consultancy Services, Titan, Infosys, HDFC Bank, HDFC and ITC were the gainers.
Equity benchmarks Sensex and Nifty declined nearly 1 per cent on Friday, in tandem with a weak trend in overseas markets amid hawkish tone of global central banks. The 30-share BSE Sensex fell 461.22 points or 0.75 per cent to settle at 61,337.81. During the day, it tumbled 506.5 points or 0.81 per cent to 61,292.53.
'Our competitiveness with China is very important.' 'If the exchange rate depreciates, it is good for us because it helps in our competitiveness.'
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Bank has cited trend of global easing and weak growth
From the Sensex pack, Mahindra & Mahindra, UltraTech Cement, Power Grid, State Bank of India, ITC, Titan, Tata Motors and ICICI Bank were among the major winners. Tata Consultancy Services, Bajaj Finance, Tech Mahindra, Asian Paints and HDFC were among the major laggards.
Gold retains gains, gain nearly 3 per cent in the past three sessions.
FPIs have turned net sellers in 2022 after being net buyers in the last three years.
This is the highest closing level since May 11, 2016 when the rupee had finished at 66.56
Equity indices ended lower on Wednesday amid mixed global market trends ahead of the keenly awaited US Fed interest rate decision. The 30-share BSE Sensex fell 262.96 points or 0.44 per cent to settle at 59,456.78. During the day, it tanked 444.34 points or 0.74 per cent to 59,275.40. The NSE Nifty went lower by 97.90 points or 0.55 per cent to end at 17,718.35.
'New record for the Nifty50 is only a question of when.'
Investors' wealth tumbled over Rs 5.78 lakh crore in two days of market fall amid a weak trend in global markets after a host of central banks hiked interest rates and gave hawkish commentary. The 30-share BSE Sensex declined 461.22 points or 0.75 per cent to settle at 61,337.81 on Friday. In the previous trade, the BSE benchmark had tanked 878.88 points or 1.40 per cent to settle at 61,799.03.
If a 5% to 10% fall in the equity market gives you sleepless nights, you are not cut out for a 75% to 80% allocation to equities and must reduce it.
The rupee rose by 12 paise to close at 79.78 against the US dollar on Monday due to a weak dollar in overseas markets and an improved appetite for riskier assets. Stronger regional currencies also supported the rupee sentiment ahead of the US Fed policy decision on Wednesday. Weak domestic equities and FII outflows, however, capped sharp gains. At the inter-bank forex market, the local unit opened at 79.86 against the greenback and moved in a range of 79.70 to 79.87 in the day trade.
Tech Mahindra, the top loser in the Sensex pack, shed over 2.5 per cent. It was followed by UltraTech Cement, Reliance Industries, HCL Tech, HDFC, Kotak Bank, HDFC Bank and TCS. NSE Nifty plunged 179.35 points to 17,745.90.
Bajaj Finance was the top gainer in the Sensex pack, rising around 3 per cent, followed by Infosys, Titan, Reliance Industries and HCL Tech. NSE Nifty rose 27 points to 17,248.40.
Benchmark BSE Sensex settled above the 63,000-level for the first time on Wednesday, extending its winning momentum to seventh day amid a largely positive trend in global markets and continuous foreign fund inflows.
Foreign portfolio investors (FPIs) pulled out as much as Rs 17,537 crore from the Indian markets in just three trading sessions of March as investors' sentiment got dented by the uncertainty triggered by the Russia-Ukraine conflict and rising crude oil prices. As per depositories data, they pulled out Rs 14,721 crore from equities, Rs 2,808 crore from debt segment and Rs 9 crore from hybrid instruments between March 2-4. This took the total net outflow to Rs 17,537 crore.
Insufficient rainfall will have a negative impact on the economy.
Some say the MPC will raise the rate, while others are of the view that there is already de facto interest rate tightening through rising bond yields, which might prompt the central bank to go for a pause.
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