Investor wealth zoomed over Rs 10.48 lakh crore in two days as the Budget-driven market euphoria continued to charge bulls on Tuesday.
The 30-share Sensex ended down 414 points at 25,481 and the 50-share Nifty slipped 119 points at 7,603.
Markets crashed due to domestic worries; bluechip stocks tanked too.
The 30-share Sensex ended down 245 points at 28,799 and the 50-share Nifty closed down 81 points at 8,750
Investors engaged in profit booking in the recent gainers at attractive and higher valuations.
Says, Jio unlikely to gain 2% revenue market share in 2017
Customers may lose freebies or have to pay a little more for mobile services in the days ahead as operators try to make up for Rs 61,100 crore they have committed to government in the latest spectrum auction.
Hero MotoCorp's promoter Pawan Munjal emerged as the highest paid director.
The Nifty closed at 10,335.30, down 28.35 points, or 0.27 per cent.
'The mismatch between valuations and fundamentals is startling,' warns Devangshu Datta
Just a few weeks ago, Communications Minister Ashwini Vaishnaw did some tough talking with the senior managers of Bharat Sanchar Nigam Ltd, the ailing state-owned telecom service provider. The message was clear: They had to perform, quit by taking the voluntary retirement package or be compulsorily retired from service. The terse message from an otherwise polite and soft-spoken minister came just days after he announced a second and bigger package of Rs 1.64 trillion as part of a four-year turnaround plan for BSNL.
The 50-share NSE Nifty stayed in the positive zone and retook the 9,900-mark to hit a high of 9,905.05 as buying paced up towards the fag end. It settled higher by 72.45 points, or 0.74 per cent, at 9,899.60.
Budget 2014-15 has done away with the tax sunset clause of March 2014.
Airtel, Vodafone, BSNL increase subscriber share while Idea manages to retain
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
The US FOMC concludes its two-day meeting today while the Bank of Japan will start its two-day meeting today.
Hopes that better-than-forecasted monsoon may help the RBI cut rates sooner than expected, too triggered buying activity.
The broader Nifty of National Stock Exchange scaled the 10,200 mark intra day before closing at 10,184.85, showing a sizeable gain of 38.30 points, or 0.38 per cent.
Sensex ended in green on Friday amid heavy buying.
Other gainers included Kotak Bank, HCL Tech, ONGC, Asian Paints, Vedanta, HDFC Bank, Bajaj Finance, Maruti and TCS, gaining up to 1.41 per cent. Sun Pharma was the top loser, cracking 8.58 per cent.
The country's wireless subscriber base fell to 87.05 crore at the end of September, registering the first drop in five months, after Reliance Communications deactivated services of over 1 crore "unprofitable" users.
Ajit Mishra, vice president, Research, Religare Broking, answers your queries.
The decline was led by index heavyweight Reliance Industries along with ITC and HDFC.
HDFC twins, Axis Bank, ICICI Bank and SBI from the financial space gained between 1-2.7%.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
Sensex plunges 322.39 points to over 1-month closing low of 27,797.01; Nifty tumbles 97.55 points to 8,340.70.
Among other segments, home broadband subscriptions have picked up and the virtual private network service, too, increased by around 15 per cent.
ITC was the biggest gainer in the Sensex pack, rallying 3.14 per cent. Maruti Suzuki, Axis Bank, Hero MotoCorp, Vedanta, Asian Paints, M&M, HUL, Bajaj Auto and PowerGrid were among the other top gainers, rising up to 2.13 per cent.
As global economies contract because of the Covid-19 pandemic, the focus of most of the India Inc has now moved back to the home market where demand is expected to pick substantially from the coming festival season.
Ajit Mishra, vice president, research, Religare Broking, answers your stock market queries.
Of the 30-share Sensex pack, 22 ended with losses while NTPC ended flat at Rs 127.30.
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Among other stocks, IT firm Mphasis today reported a 15.30% increase in consolidated net profit at Rs 184.72 crore for the quarter ended September 30, 2015.
Foreign portfolio investors were net buyers in equities to the tune of Rs 119 crore, as per provisional stock exchange data.
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
The 30-share Sensex lost 12 points to end at 29,559 and the 50-share Nifty climbed 4 points to close at 8,914.
It is ranked 7th on the list of world's top-10 consumer finance firms
Sensex remained volatile through the day.
Investors turned cautious ahead of the US Fed meet outcome later today and July F&O expiry.
From spending a little less than three hours on making voice calls, Indians are spending well over 5 hours. So, while people make more calls, they are spending less than ever, reports Romita Majumdar.
