Domestic equity markets are likely to see volatility in a range-bound trade this week amid geopolitical worries and growing expectations of a sharp hike in interest rates, analysts said. Global trends, inflation data and the last batch of quarterly earnings will drive the markets this week, they said. Besides, the rupee movement, FII investment pattern and Brent crude trends would also be watched by investors.
The first quarter earnings season will dictate the trend in the equity markets in this holiday-shortened week amid absence of major macroeconomic drivers, say analysts. Besides, lacklustre global markets may increase volatility in the market, they added. Equity markets would remain closed on Wednesday for Bakri-Id.
Investors' wealth zoomed by Rs 5,78,634.72 crore in two days of intense market rally, with participants adding Rs 2,74,908.83 crore to their fortune on Tuesday. Over the past two sessions, the BSE gauge Sensex has gained about 1,461 points or 2.99 per cent. The benchmark rallied 612.60 points or 1.24 per cent to settle above the 50,000-mark on Tuesday. Following the two-day massive rallies, the market capitalisation of BSE-listed companies jumped by Rs 5,78,634.72 crore to a record Rs 2,16,39,367.91 crore on Tuesday.
Investors' wealth slumped over Rs 8.77 lakh crore on Monday as concerns over surging COVID-19 cases in the country roiled the equity market. The 30-share BSE benchmark index plunged 1,707.94 points or 3.44 per cent to close at 47,883.38. During the day, it nosedived 1,897.88 points to 47,693.44. Tracking losses in equities, the market capitalisation of BSE-listed companies eroded by Rs 8,77,435.5 crore to Rs 2,00,85,806.37 crore.
The governor of Indiana, who was returning from a campaign event in Iowa, was not hurt in the bumpy landing.
Billionaire Gautam Adani on Tuesday did an hour-long session of yoga exercises in the open air as he led corporate India to join the International Day of Yoga celebrations. Several public and private sector companies held yoga sessions at their offices to promote the adoption of exercise in daily routines to stay fit and healthy. Adani, chairman of logistics-to-energy conglomerate Adani Group, and his wife Priti, who heads the Adani Foundation, "participated with more than 1,000 members of the Adani Parivaar team to celebrate health, mindfulness and meditation," the group said in a statement. The session was held at a football ground at Adani Shantigram in Ahmedabad. Several other business leaders tweeted pictures of their yoga sessions.
'There are three pillars of concern: The expansion of Hindu majoritarianism, the concentration of executive power and decay of independent institutions, and curbs on free expression and dissent.'
Former Australia Prime Minister John Howard's dream of becoming ICC president in 2012 suffered a jolt on Thursday as Sri Lanka joined Zimbabwe and South Africa in resisting his nomination for the vice-president's post.
In his Budget, Jaitley announced a pay hike for the President to Rs 5 lakh per month, Rs 4 lakh for the VP and Rs 3.5 lakh for governors.
Board of Control for Cricket in India Vice President Rajiv Shukla on Friday briefed Finance Minister Pranab Mukherjee on the ongoing Indian Premier League controversy.
On the Sensex chart, NTPC, SBI, UltraTech Cement, ICICI Bank, Tata Steel, Bajaj Finserv and Bjaja Finance were among the major laggards, shedding as much as 1.63 per cent.
Tata Consultancy Services, India's largest software exporter, hired 100,000 freshers in the financial year 2021-22, more than in any other year. That means an average of 8,300 trainees joining the company every month. This is not merely a mathematical calculation: hiring of freshers at the top IT companies is no longer a compressed affair confined to the campus season.
The US Fed interest rate decision, domestic macroeconomic data announcements and ongoing quarterly earnings are some of the major factors that will drive the stock markets in a holiday-shortened week, analysts said. Besides, monthly auto sales numbers and the LIC IPO will also remain in focus, they added. Equity markets will remain closed on Tuesday for Id-Ul-Fitr (Ramzan Id). "The market is likely to kick off this week on a sombre note after a sharp fall in the US market then the focus will shift to the outcome of the US FOMC meeting, which is crucial amid record inflation and growth worries.
The 30-share BSE benchmark tanked 535.57 points or 1.13 per cent to close at 46,874.36 on Thursday. It has now lost 2,917.76 points in five days.
Apple unveiled its highly anticipated iPhone 14 during its 'Far Out' event on Wednesday along with the iPhone 14 Plus variant, the iPhone 14 Pro and Pro Max. This new lineup is inspired by the iPhone 13, with sharp metal edges, rounded corners, a glass back, the recognisable notch at the top of the handset, and a lightning port.
Former Australian Prime Minister John Howard appeared for an interview for ICC vice-president's job which will be left vacant after India's Sharad Pawar takes charge as chief of the cricket governing body in June, according to a report.
Rajyavardhan Singh Rathore joined the Sahara after receiving the nod from the government and the Indian Army
After having decided to abstain from voting in the Presidential poll, the Communist Party of India on Wednesday extended support to United Progressive Alliance's nominee Hamid Ansari for his re-election as vice president.
United Progressive Alliance's vice presidential candidate Hamid Ansari filed his nomination papers in Delhi on Wednesday for the poll, to be held on August 7, in the presence of Prime Minister Manmohan Singh, Congress president Sonia Gandhi and leaders of the ruling UPA.
"Even without her, we have over 60 per cent votes that may go up with others' support and hence we are just not counting on Trinamool," a Congress functionary said on Monday.
If there was one event that made the month of August stand out, it was a strengthening of the dollar index to levels last seen only 20 years ago, as the Federal Reserve dispelled all doubts about its intention to continue raising interest rates. Predictably, most currencies suffered against the US unit, with the bulk of the losers belonging to the emerging markets pack. Amid the volatility, the rupee, however, has displayed significant resilience and fared much better than most of its peer currencies.
Jaswant Singh on Tuesday met Samajwadi Party supremo Mulayam Singh Yadav amid speculation that the Bharatiya Janata Party leader could be lobbying for the vice president's post
Vice President John Garang was killed when a Ugandan presidential plane he was travelling in crashed into a mountain range in southern Sudan
The Congress Working Committee on Monday authorised party President Sonia Gandhi to decide on the candidates for the coming Presidential and Vice Presidential elections.
HCL Tech was the top loser in the Sensex pack, skidding over 4 per cent, followed by Tech Mahindra Dr Reddy's, Wipro, TCS, Titan and Infosys. NSE Nifty plunged 167.80 points to 17,110.15.
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.
In a condolence message to his son Sanjay Dutt from St Petersburg, where he is on a State visit, President A P J Abdul Kalam, said Sunil Dutt had made significant contributions to the fields of art and public life.
The new Maldives government is not inclined to pursuing politics of revenge and does not intend to arrest ousted president Mohamed Nasheed, the country's new Vice President Mohamed Waheed Deen said on Monday.
The funeral will take place on Wednesday, the Vatican said.
Amit Singhal had joined Uber in January as senior vice president of engineering after working for 15 years at Google, where he oversaw the internet giant's search efforts.
What would an Indian American president of the US look like, sound like and act like, especially on issues and policies pertaining to his or her 'mother-land'?, asks N Sathiya Moorthy.
Following his resignation, the second this week, the Congress' strength further slipped to 13, while the opposition has 14 MLAs in the 33-member house which has five vacancies.
Mike Pence, a staunch conservative defender of traditional family values with strong anti-abortion views, is the first American vice president to speak at the March for Life gathering.
Bhartiya Janata Party vice president and former Vinay Katiyar has claimed threat to his life by unidentified Islamic extremists.
Tagging a tweet on the organisational changes by the party in Tamil Nadu, Karti Chidambaram tweeted, "These jumbo committees serve no purpose. 32 VP, 57 GS, 104 Secretaries. None will have any authority which means no accountability."
Bajaj Finserv was the top gainer in the Sensex pack, rallying over 9 per cent, followed by Titan, Bajaj Finance, Kotak Bank, Bharti Airtel, Nestle India and NTPC. On the other hand, Reliance Industries, IndusInd Bank, Sun Pharma, Axis Bank, ONGC and HUL were among the laggards.
'The potential headwind is that the Indian economy is likely to see a slowdown in growth rates over the next two years.'
