The foreign institutional investors party continues on Dalal Street unabated, with net investment by FIIs in stock markets surging past the $50-billion milestone for the first time in the country's history.
The analysis is based on the free-float market capitalisation.
The writing has been on the wall for some time. Exodus of senior leadership and growth behind its peers are reasons that have prompted Thierry Delaporte, the chief executive officer (CEO) of Wipro to resign, analysts said. Delaporte, Wipro's seventh CEO, also resigned without completing his five-year term, like his predecessor Abidali Neemuchwala decided to end his tenure prematurely in 2020. Phil Fersht, HFS Research CEO and chief analyst believes the change in leadership was at least six months overdue.
Dalal Street witnessed its best-ever post-election rally in history on Monday with the benchmark index jumping over 2,110 points or 17 per cent on the first trading day after the announcement of the Lok Sabha election results.
The indefinite stir against corporate greed and the failure of the capitalist model of development is being spearheaded by Communist Party of India and its students wing All-India Youth Federation in Mumbai, a CPI spokesperson said.
Going 'long' is becoming an overcrowded trade on Dalal Street, and any negative trigger could lead to a sharp correction, warn experts. However, given the strong momentum, particularly in IT stocks, the downside could be protected in the immediate term. "With the Nifty50 surging to new life-time highs, the bulls remain in control. Further upsides are likely once the immediate resistance of 21,492 is taken out.
'This might prove to be a temporary gain for the BJP, but at a huge cost to the people of Gujarat and democracy in India.'
The Bharatiya Janata Party replaced at least 25 sitting MPs with new faces as the party released its second list of 72 candidates for the upcoming Lok Sabha polls on Wednesday.
The stakes are significant for the BJP in this round as the party had in 2019 won an overwhelming majority of these seats, including all in Gujarat, Chhattisgarh, Bihar and Madhya Pradesh, that will go to polls on May 7.
Indian IT major Wipro on Saturday announced the resignation of its CEO Thierry Delaporte and named Srinivas Pallia as the new chief executive officer effective immediately. Wipro's Board noted the resignation of Delaporte with effect from April 6, 2024, the company said in a BSE filing, and added he will be relieved from the employment of the company with effect from the close of business hours on May 31, 2024.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
Among the Sensex shares, Infosys rose the most by 1.37 per cent, followed by Larsen & Toubro (0.90 per cent), and Wipro (0.83 per cent). HDFC Bank, ICICI Bank, Reliance Industries, ITC, TCS, Kotak Bank, Asian Paints and Titan were among the lead gainers.
The Indian contingent has surpassed its previous record from the 2018 Asian Para Games in Hangzhou, China, with a total of 73 medals in the current edition.
After a sharp fall in the share prices of HDFC Bank and other private sector lenders in the past three days, the BFSI (banking, financial services and insurance) sector weighting in the Nifty50 has slipped to a seven-year low of 32.03 per cent, down from nearly 36.6 per cent at the end of March 2023 and 34.5 per cent at the end of December 2023.
As much as one would have liked a glimpse into the lady's culinary excellence, Tarla acquires its endearing character in Huma Qureshi and Sharib Hashmi's harmonious display of doting husband and wife, observes Sukanya Verma.
Actor-Writer Hussain Dalal is engaged to his fashion stylist and costume designer girlfriend, Zeeba Miraie.
Karva Chauth was special this year for some film folk, as they had their first taste of it.
Fighter's distressing lack of thrills and sizzle reduces the exercise to an excuse for tedious amounts of Pakistan bashing, observes Sukanya Verma.
Investors not comfortable investing directly may take the mutual fund route, where they get exposure to a diversified portfolio of bonds.
Rediff.com's Hitesh Harisinghani clicks the couples at the Nita Mukesh Ambani Cultural Centre.
Diwali fireworks are expected to continue on Dalal Street next week, with four companies collectively seeking to mobilise over Rs 6,600 crore through initial public offerings (IPOs). In terms of the amount raised, this is poised to be the busiest week of calendar year 2023. Tata Technologies (Tata Tech), a subsidiary of Tata Motors, could lead the charge with an IPO projected to be over Rs 2,900 crore. This will mark the first maiden share sale by a Tata Group firm in nearly two decades.
The purple carpet was rolled out for the OTTplay Awards 2023.
Varun celebrates his birthday... Mohanlal holidays with wife...Hina goes to Kashmir...
ITC's net profit grew the fastest, followed by HUL and Asian Paints.
The 16-strong Delhi squad, led by Kolkata Knight Riders star Nitish Rana, also has a number of current IPL players in its ranks.
A glimpse of the celebs who showed up at Lakme Fashion Week x FDCI.
Ravi Shastri said that it was a touching moment for him to get bestowed with the Col CK Nayudu Lifetime Achievement Award.
Jee Karda is a dish with a lot of garnish, but no flavour, observes Deepa Gahlot.
D-Street is hoping RBI policy review meeting on Tuesday will uphold its stand on easing of interest rates
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings. Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent. In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Swift gains on Dalal Street this year have also led to a sharp surge in shares of equity market intermediaries like depositories, exchanges, and registrar and transfer Agents (RTAs). The stock prices of BSE, CDSL, CAMS, and KFin Technologies are up 24-283 per cent so far in 2023 when compared to a 9 per cent rise in the benchmark Nifty index. With the market buoyancy expected to keep up the pace, analysts believe these stocks are a good long-term bet despite the sharp rally, which can trigger an intermittent correction.
In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks. Experts said India's strong macroeconomic fundamentals, political stability owing to the BJP's success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.
Later, the Central Bureau of Investigation took over the probe and found that the two women were never raped or murdered.
Smaller stocks have emerged as Dalal Street's favourites in 2023 that has turned out to be a "great year" for equities, rewarding investors with big gains, driven by optimism over the country's macroeconomic fundamentals and heavy retail investors participation. Experts said equity markets are experiencing a prolonged bull run and it is during this time that the midcap and smallcap segments tend to outshine their larger counterparts. Till December 22 this year, the BSE smallcap gauge has jumped 13,074.96 points or 45.20 per cent while the midcap index has surged 10,568.18 points or 41.74 per cent.
'Punjab farmers were unnecessarily being targeted and defamed for air pollution in Delhi'
The market capitalisation of BSE-listed firms jumped to an all-time high of Rs 304.53 lakh crore on Wednesday, buoyed by an unprecedented rally in equities where the BSE benchmark Sensex ended over the 67,000-mark for the first time ever. Rallying for the fifth day running, the 30-share BSE Sensex climbed 302.30 points, or 0.45 per cent, to end at its lifetime closing high of 67,097.44 points. During the day, it jumped 376.24 points, or 0.56 per cent, to reach its all-time intra-day peak of 67,171.38 points.
Star Indian men's doubles pair of Satwiksairaj Rankireddy and Chirag Shetty stormed into the second round in the Korea Open Super 500 tournament.
The senior AAP leader played the audio tape at a press conference and claimed the BJP "dalal" (broker) heard in the clip was one of the three people arrested in Telangana over an alleged bid to poach that state's ruling party Telangana Rashtra Samithi MLAs.
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