The stock markets on Monday crashed, witnessing a historic fall of 16 per cent in a day triggered by uncertainty over economic reforms and policies of the new government at the Centre.
Now that everyone on the Dalal Street is 'revising' the target for the benchmark BSE-30 upwards, especially after a good Budget, the premise of the same has to be questioned.
In India, bond yields have fallen nearly 70 basis points in the last one year.
The Nifty gained 92 points to close at 3,517.
Radhakishan Damani is the only billionaire to see his wealth grow by around 20% during the lockdown.
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
Mohnish Pabrai whose company handles funds to the tune of $464 mn spoke at length about his investment decisions in Mumbai
Its rich valuation with a PE of 62 times raises downside risk for investors
Major gainers in the Sensex pack were Wipro, Kotak Bank, Infosys, Maruti, Tata Motors, L&T, IndusInd Bank, Hero MotoCorp, M&M, SBI, ONGC, HDFC Bank and HUL, rising up to 3 per cent.
'This fall is nothing. We could see worse if everybody hits the panic button.'
Experts expect the trend to continue in the near term.
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
The gap between Nifty's price-earnings multiple and economic growth is at a 12-year high
The insatiable greed for money and power is too large, too repugnant to thwart. And no one epitomised that better than Harshad Mehta, notes Dhruv Munjal.
Previous peak in 2010 crossed in first five-and-a-half months this year.
The current valuation is 38 per cent higher than the 10-year average of 22x and over 50 per cent higher than the 20-year average of around 20x.
This was the fifth consecutive quarter when the Indian markets have seen positive flows from FIIs.
Value investor Parag Parikh's sudden death has come asa big jolt to the fraternity.
Premium valuations era started in 2006 and went hand in hand with decline in the US interest rates
At its current stock price, RIL now has 8.4 per cent weight in the Sensex against Infosys' 8.8 per cent.
It was a 'Black Monday' again in markets today and history shows that seven out of the ten biggest carnages on Dalal Street has taken place on a Monday!
Stock markets crashed over 1,000 points or nearly 4 per cent on Monday, making it the biggest fall since 2008.
The stock market will most likely see bullish trends this week in the run up to Union Budget as investors pin hopes on strong reform measures to rev up the economy, say experts.
The markets gained nearly 7 per cent in the 4 trading sessions of March.
Eight Sensex biggies such as Reliance, L&T, BHEL, SBI and ICICI Bank are among the worst hit.
A day after Dalal Street witnessed its bloodiest battering, NSE chief Chitra Ramkrishna on Tuesday said there is no need for panic as in an inter-connected world, global developments are bound to have an impact on all markets.
Out of the 24 IPOs, 20 companies had anchor investors, which collectively subscribed to 31 per cent of the total public issue amount.
The risk-reward ratio could turn adverse for foreign investors if corporate earnings disappoint by wide margins, or if crude oil prices spike in the international market, putting pressure on the rupee-dollar exchange rate.
'India is not so distant from years of high and entrenched inflationary expectations that it should start trying to play games with the economy the way the West's central bankers think they are entitled to,' argues Mihir S Sharma.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
These investors are not only betting on little-known stocks, but also sectors that the market participants are not paying much heed to. Some of these stocks can be potential multi-baggers, while others may not live up to the expectations of these stock-pickers, says Jash Kriplani.
Adani Ports, BHEL, Tata Motors, ONGC, Mahindra & Mahindra and Tata Steel were the top losers.
Most of these alleged tax evaders hail from Kolkata, Mumbai, Ahmedabad, Surat, and Delhi.
A weaker rupee could aid corporate earnings through its positive impact on export intensive sectors such as information technology services, pharmaceuticals and commodity producers such as metal and mining, and oil and gas companies.
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