A large number of women from various states reached the sites of protest against the Centre's three farm laws that has been going on for over 50 days now.
Dr Reddy's was the top loser in the Sensex pack, shedding around 5 per cent, followed by M&M, Tech Mahindra, Axis Bank, IndusInd Bank and TCS. NSE Nifty sank 306.05 points to finish at 14,675.70.
Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
'Money that came into mutual funds near the previous peaks -- the second half of 2017 and 2018 -- has in most cases experienced unflattering returns.' 'A large proportion of redemptions could be such inflows exiting when the market recovered sharply from July 2020 onwards.'
Speaking to reporters at the Gujarat BJP headquarters, the Union textiles and women and child development minister hit out at Gandhi over his comment that the Congress, if voted to power, would scrap the contentious legislations.
Most analysts as well as company executives say the rally in commodity prices is ill-timed coming just when firms were recovering from disruptions such as demonetisation & introduction of GST
It does feel like we are close to the end of the rupee's rally, says Jamal Mecklai.
Among the lot, Rallis India, Escorts, Jubilant Life Sciences, and Crisil added half of the total gains made in the ace stock-picker's portfolio.
Buying or selling securities based on rumours about expected changes in tax rates or sectoral sops can backfire, advises Sarbajeet K Sen.
Stock market minnows put up a stellar show in 2021 giving returns of up to 60 per cent amid Dalal Street dream run and are likely to continue sailing northwards in the New Year too. Trumping pandemic-induced uncertainties, the Indian equity market posted stunning gains this year achieving several feats and smaller stocks benefited the most from the strong momentum. From reaching the momentous 50,000-mark in January to scaling 61,000-level in October, the BSE Sensex had an epic journey this year.
After a stellar run that saw the frontline indices - the S&P BSE Sensex and the Nifty 50 - clock gains of around 21 per cent and 24 per cent respectively in calendar year 2021 (CY21), the year gone by in real sense belonged to the mid-and small-cap segments. Thus far in CY21, the mid-and small-cap indexes on the BSE have far outpaced the run in the frontline indices and notched up a gain of around 38 per cent and 61 per cent, respectively during this period. Though analysts expect the outperformance to continue in 2022, they caution against the multiple headwinds in the year ahead that may dent the overall market sentiment.
Pune cops denied Asaduddin Owaisi permission to carry rally in Pune
HDFC Bank was the top gainer in the Sensex pack, rallying nearly 4 per cent, Infosys jumped over 3 per cent. Sun Pharma, NTPC, HCL Tech, Tech Mahindra, HDFC, RIL and TCS also closed with gains. On the other hand, Axis Bank was the top laggard, followed by ITC, ICICI Bank, IndusInd Bank and Maruti Suzuki.
A sharp sell-off in the Indian equities markets after a spike in crude oil prices should not be surprising. Historically there is a negative correlation between stock valuations in India and the price of Brent crude oil, which is the benchmark for the Indian crude oil basket. Between 2011 and 2014, crude oil traded above $100 a barrel for an extended period, the Sensex-trailing price/earnings (P/E) was 18X, on average, during the period, nearly 22 per cent lower than the current index P/E of 23X.
'We are most bullish on all aspects of the financial sector -- private sector banks, even one state-owned bank, insurance, mortgage finance, broking, wealth management, gold finance, etc.'
IMD expects day temperatures to remain above-normal in select regions across the country between March and May 2021.
Nifty is likely to remain under selling pressure unless and until it breach the 7,700-7,720 levels on closing basis.
The operating margin of India Inc is likely to drop in the December quarter with a 100-120 bps year-on-year decline, as 27/40 sectors are set to see crimped margins despite higher revenue, according to a report. Surging commodity prices and price hikes may help companies report a healthy 16-17 per cent revenue growth to Rs 9.1 lakh crore during the quarter ending December, the Crisil report said on Tuesday. Software major TCS will open the earnings season Wednesday.
'Have you seen a situation like this anywhere before, globally or in India, where a government says, okay, we are withdrawing a law because you don't want it?'
'The more retail investors keep away from speculative activity, the more they will manage their risks better.'
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
The move comes days after Congress chief Sonia Gandhi asked states under party's rule to enact legislations to bypass Centre's three farm-related laws that have triggered protests by farmers.
'Today, there is no easy money to be made after the run-up in equities.'
Emerging markets such as India have always run higher inflation rates than developed economies such as the US and countries of Western Europe. But for the first time in the past 30 years, the US reported a higher consumer price inflation (CPI) rate than India in five consecutive months. The US reported a CPI rate of 7.5 per cent in January 2022 against 6.01 per cent in India and analysts expect the trend to continue for at least a few months more
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
Short-term wave counts show that there could be minor pullbacks next week, which will be small counter-trend rallies to correct for over-sold conditions. says Sonali Ranade
The government and farmer unions have held 11 rounds of talks so far, the last being on January 22, to break the deadlock and end the farmers' protest. Talks have not resumed following widespread violence during a tractor rally by protesting farmers on January 26.
Many non-NDA parties have extended support to the nationwide 10-hour strike on Monday called by farmers protesting against the three agri laws under the aegis of Sanyukt Kisan Morcha (SKM).
Meanwhile, retail jewellery sales in India have declined by 50 per cent since gold price started its uptrend nearly two weeks. Buyers deferred their fresh purchase amid expectations of a correction in gold prices from the current high level.
Farmer leader Balbir Singh Rajewal appealed to people to raise black flags at their houses, vehicles and shops on May 26 to protest against the contentious farm legislations.
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
A seven-year-old boy was killed and another child injured in a crude bomb explosion in Burdwan city in West Bengal on Monday, triggering tension in the area ahead of the elections amid a political war of words over the law and order situation in the state.
The BJP is beating the development drum this time more loudly to overcome many other hurdles besides anti-incumbency. While the party is claiming it is looking for a much bigger victory than in 2017, BJP observers are not too sure about it, reports Shishir Prashant.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
Referring to the incident, a fresh plea has been filed for urgent hearing of the PIL, pending since March this year, saying "The right to freedom of speech and expression cannot supersede the right to life and if this protest is allowed to go in like this, the nation at large will be at a loss."
EM asset classes could rally if the pace of US Federal Reserve rate increases moderates.
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