If the DMK is able to sustain the momentum until the assembly polls, the AIADMK especially and the PMK and possibly the infant TVK too would find it hard to sign up with the BJP, explains N Sathiya Moorthy.
Tata Motors was the biggest loser in the Sensex pack, skidding 1.77 per cent, followed by SBI, Power Grid, Tata Steel, Infosys, UltraTech Cement, Titan, Larsen & Toubro, Reliance Industries and Maruti. On the other hand, IndusInd Bank, Bharti Airtel, Asian Paints, NTPC, HCL Technologies, HDFC and Sun Pharma were the gainers.
Equity markets this week will be largely guided by trends in global stocks, foreign funds' trading activity and progress of monsoon, analysts said. Investors will also track the movement of rupee against the US dollar and crude oil prices. Benchmark indices Sensex and Nifty closed at fresh lifetime highs on Friday.
Wipro was the biggest loser in the Sensex pack, slipping nearly 2 per cent, followed by IndusInd Bank, State Bank of India, Kotak Mahindra Bank, ICICI Bank, HDFC Bank, Infosys, Tata Consultancy Services, HDFC and Bajaj Finserv. On the other hand, Nestle, Mahindra & Mahindra, ITC, HCL Technologies, Asian Paints and Maruti were among the gainers.
The Reserve Bank of India's (RBI's) interest rate decision, West Asia conflict and trading activity of foreign investors are the key factors that will dictate investors' sentiment in the market this week, analysts said. Moreover, quarterly earnings from IT bellwether TCS, domestic macroeconomic data and movement in global oil benchmark Brent crude would also guide trends in the market. Worsening tensions in the Middle East and foreign fund outflows were the major culprits behind the equity markets sharp fall last week.
Analyst are cautious about the performance of IT services sector from January to March quarter (Q4) of FY24 and the first half (H1) of FY25. While the Bloomberg consensus on revenue implies the market is expecting 2-3 per cent growth on a quarter-on-quarter (Q-o-Q) basis for the IT majors through FY25, the H1FY25 is likely to see even flatter returns, and Q4FY24 is likely to be poor. There is likely to be some recovery in the second half (H2FY25) but even so, there's a chance that the market will be overall disappointed.
'Earnings will be the catalyst for markets to march higher from here on out.'
Equity investors became poorer by over Rs 8 lakh crore in five days of market plunge. The BSE benchmark has lost 2,062.99 points or 4 per cent in five trading sessions. On Thursday, the 30-share BSE benchmark tanked 585.10 points or 1.17 per cent to close at 49,216.52. Following the bearish trend, the market capitalisation of BSE-listed companies declined by Rs 804,216.71 crore to Rs 2,01,22,436.75 crore in five days.
Boom, bust or a bit of both: as the jury bides time before ruling on the US 'recession', the economy's vital signs at a perplexing time of high-interest rates, still-punishing inflation, and surprisingly strong economic gains are a study of a growing debate over whether the world's largest economy is barrelling into a new downturn. With the US Federal Reserve's (Fed's) inflation fighters attempting the risky pursuit of 'pillow-soft landings' and its economy sending out mixed signals, if there is indeed a recession, it could spell trouble for domestic equities and corporate earnings growth.
Foreign Portfolio Investors (FPIs) selling spree continued as they dumped Indian equity worth over Rs 5,800 crore this month so far on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
In the Sensex pack, Mahindra & Mahindra, Tata Steel, Tata Motors, Maruti, Larsen & Toubro, HDFC, HDFC Bank, Tech Mahindra and Bharti Airtel were the major laggards. Asian Paints, Bajaj Finserv, Power Grid, Reliance Industries, NTPC and UltraTech Cement were among the gainers.
A strong appetite for gold on Friday's Dhanteras is expected this year due to auspicious reasons and geopolitical concerns, continuing the 2022 trend driven by pent-up COVID demand. Compared to last year's Dhanteras, gold prices have jumped 22 per cent and silver prices by 21 per cent, respectively. "Gold and silver are good for portfolio diversification, especially in times of geopolitical turbulence.
Foreign portfolio investors (FPIs) sold shares worth Rs 20,170 crore ($2.4 billion) recently. This marked the fifth-highest weekly outflow from overseas funds since the beginning of 2008 and the largest since the last week of March 2020. Due to the Covid scare, FPIs had sold shares worth Rs 21,951 crore during that week, causing the market to decline by nearly 20 per cent.
Khan, 71, has been lodged at the Adiala Jail in Rawalpindi on account of multiple cases against him.
India will drive growth in the Asia-Pacific (Apac) region as the growth engine is likely to shift from China to South and Southeast Asia in the coming years, S&P Global Ratings said in a report on Tuesday. The rating agency's report projected China's growth to slow down to 4.6 per cent by 2026 from an estimated 5.4 per cent in 2023. India is likely to clock 7 per cent economic growth from 6.4 per cent estimated for 2023.
Since the last nine years, gold investors have made money each year, while gains in silver have been consistent only in the last five years.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
'We expect the bull-market phase to still persist, but now led by large-caps which offer better valuation and benefit from FII inflows.'
'We expect continued pressure on midcaps, but any sharp correction looks unlikely from here on.'
Analysts remain bullish on the road ahead for the equity markets, but warn against volatility on account of domestic and global cues. The upcoming Lok Sabha elections back home and the interest rate trajectory of the US Federal Reserve, they said, will be the two most important factors that the markets will keep a tab on. That apart, the valuation of the Indian markets, they feel, will also be eyed in context of how global peers are performing.
Those who want to invest should consider their risk appetite. Youngsters may go for it as they have a longer horizon to recover from a setback.
Tennis legend Roger Federer and Olympic Gold medalist Neeraj Chopra met in Zurich, marking a rare convergence of two iconic athletes from different sporting domains.
Investors' wealth fell by Rs 2.89 lakh crore in two days of market fall, with the BSE Sensex tumbling 796 points on Wednesday, amid weak global market trends ahead of the US Federal Reserve's interest rate decision. Fresh foreign fund outflows and caution ahead of a host of interest rate decisions from global central banks also added to the overall bearish trend. Besides, the US Fed meeting, the BoE (Bank of England) and the BoJ (Bank of Japan) are also scheduled to meet this week.
Investors' wealth eroded by Rs 7.59 lakh crore on Monday as the equity market took a heavy drubbing amid escalating tensions in the Middle East. The 30-share BSE Sensex plunged 825.74 points or 1.26 per cent to settle at 64,571.88 points. During the day, the index plummeted 894.94 points or 1.36 per cent to 64,502.68 points.
Opposition members in Rajya Sabha on Thursday accused the government of imposing Hindi by bringing new bills with titles only in that language, a charge the treasury bench contested while alleging they were stuck with a colonial mindset.
The US Federal Reserve has raised its benchmark interest rate by 0.25 per cent, only the second increase in a decade.
India's prices are rising faster than many of its emerging market peers. The country's inflation print for May at 4.25 per cent is a marked reduction from the levels seen in May 2022 (7.04 per cent). However, even though the inflation rate remains within the Reserve Bank of India's medium-term target of 4 per cent, with a 2 per cent margin on either side, it continues to be higher than China, Russia, and Brazil.
The MUDA office in Mysuru and some other locations are being raided by the federal probe agency officials along with an escort of a central paramilitary force, the sources said.
The fall in reserves was due to a sharp fall in foreign currency assets.
Fundraising activity in the debt market is gaining momentum ahead of the festival season. Several non-banking financial companies (NBFCs) and the National Bank for Agriculture and Rural Development (Nabard) are planning to raise at least Rs 5,560 crore in the next two days by issuing bonds, with a greenshoe size of Rs 6,370 crore. Ajay Malglunia, managing director and head of investment grade group at JM Financial, said, "The market likes certainty, the market will gain clarity after the US Federal Reserve's (Fed's) policy.
Says impact of crisis in China won't be as big here as in some other countries
Tactical investors should have an investment horizon of around six months to one year, long-term investors should stick around for 10 years or more.
Foreign Portfolio Investors' (FPIs) selling spree continues as they pulled out over Rs 3,400 crore from the Indian equity markets in the first three trading sessions of November on rising interest rates and geopolitical tensions in the Middle East. This came after such investors withdrew Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
Benchmark indices Sensex and Nifty bounced back on Tuesday to close over 2 per cent higher amid positive trends in global equity markets. The 30-share BSE Sensex spurted 1,276.66 points or 2.25 per cent to settle at 58,065.47. During the day, it zoomed 1,311.13 points or 2.30 per cent to 58,099.94. The broader NSE Nifty rallied 386.95 points or 2.29 per cent to end at 17,274.30.
Global trends and the Covid situation in China would drive the equity markets this week, which may also see volatility amid the scheduled derivatives expiry on Thursday, said analysts. According to analysts, investor sentiment remained subdued last week amid surging Covid cases in China and a few other nations. Also, stronger US growth data has cemented expectations of the Federal Reserve continuing with its hawkish stance, which added to the muted trend.
If investing in Bitcoin, adopt a three to five-year horizon and invest systematically to gain from its volatility.
What the reserves offer for now is improved import coverage of about 13 months, almost double the 2013 level of less than seven months. And, ammunition to arrest a rapid rupee slide, says Anup Roy.
Besides Hooda, Bhan and Phogat, the Congress has fielded Mewa Singh from Ladwa to take on Chief Minister Nayab Singh Saini.
Incidentally, all three pugilists are currently embroiled in court case with the BFI over selection for the Asian Games.
