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 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.'
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.
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.
'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.'
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
'Today, there is no easy money to be made after the run-up in equities.'
EM asset classes could rally if the pace of US Federal Reserve rate increases moderates.
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.
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.
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).
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
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.
'Quality of management, corporate governance, allocation of capital, full disclosures should form the basis to decide investing in a particular stock.'
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.
Addressing public rallies at Barnala chowk and Bhawanigarh in Sangrur, the chief minister vowed to do whatever it takes to protect the farmers and the state from the 'devastating' effects of the 'black laws'.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
If eight states could join the VAT system much after the rollout date and after seeing how it works, why can't the same apply to states opposed to the farm laws, asks A K Bhattacharya.
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."
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.
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.
The tickets come in four colours -- red, blue, purple and green -- representing each of Japan's four seasons.
Such an economic environment tends to be positive for gold, the ultimate safe-haven asset. Since gold cannot be debased by central banks, it naturally gains in value.
The benchmark indices have rallied 28 per cent this year, while the broader market has outperformed
Indian rupee is likely to test 76-76.50 levels as a relatively strong greenback, boiling crude prices and COVID headwinds deepen the depreciation bias for the domestic currency, according to experts. One of the significantly-hit Asian currency in recent months amid uncertain economic times, rupee is expected to see a consolidation in the vicinity of the current level before being pulled towards the depreciation bias. While the equity market has been surging with occasional blips, the rupee has mostly been weak against the US dollar in recent months.
He maintained that the laws were for their benefit and then apologised to people of the country, adding that the government could not convince a section of farmers despite its clear heart and clean conscience.
Earlier in the day, former India spinner Pragyan Ojha said the country knows how important farmers are and an outsider's opinion is not needed on an internal matter.
The agriculture minister said the government's constant efforts are aimed at making farmers prosperous by increasing their income.
If the dollar continues to rally as expected, commodities will continue to tank after a short counter-trend rally.The same holds true for precious metals, says Sonali Ranade
Over the next three - six months, UBS believes earnings will be the main driver for EM equities outperformance.
Jannayak Janta Party leader Digvijay Singh Chautala on Friday called farmer leader Rakesh Tikait a 'true patriot' and said he has always talked about farmers' interests.
"A full repeal of three central farm laws and enacting legislation for remunerative minimum support price for all farmers were reiterated as the pending demands of the movement," said the release signed by Krantikari Kisan Union leader Darshan Pal.
'Internet, healthcare and life insurance are a few sectors which offer solid long-term decadal potential.'
Huge demand for dry bulk commodities such as iron ore, coal, and grain has helped the Index touch a five year high recently.
The protests against farm laws saw a fair share of controversies as well with climate activist Greta Thunberg and pop sensation Rihanna making their way to India's prime time debates and terms such as 'toolkit' and 'andolanjeevi' entering the Indian political lexicon.
The S&P BSE Sensex surged 481 points to close at 25,627.
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