Brokers said investor sentiment turned choppy on selling by foreign institutional investors ahead of the September month derivatives expiry on Thursday.
Rupee and bonds weakened on Thursday after the US Federal Reserve signalled it may increase its policy rates at the next meeting in December.
Exposure to debt funds and gold is essential even if current returns from these asset classes are low, suggests Sanjay Kumar Singh.
The finance ministry said the sharp inflows last fiscal were due to the government's policy initiatives and economic recovery.
The Indian economy has recovered 'handsomely' from the pandemic-induced disruptions, former Niti Aayog vice chairman Arvind Panagariya said on Tuesday, while expressing hope that the recovery will be sustained and the growth rate of 7 to 8 per cent will be restored. Panagariya suggested that the government must now signal its intention to wind down fiscal deficit by cutting it by half-to-one percentage point in 2022-23. "The Indian economy has recovered handsomely, returning to its pre-COVID GDP... "Only private consumption is still below its pre-COVID-19 level," the eminent economist told PTI in an interview.
'Higher than expected inflation in the US or the European Union, faster than expected tightening by the major central banks, break out of a war in Europe, and withdrawal of portfolio equities from the emerging markets are factors which can result in equity market corrections.'
'Private banks are well-placed to deliver good performance over the next six months.'
A total of 49 companies raised Rs 81,615 crore in Samvat 2077, more than the preceding four years and almost double the amount raised in the previous year. Samvat 2078 appears even more promising with mega issues of Paytm and Life Insurance Corporation (LIC) of India. However, Paytm's record could be short-lived as state-owned LIC is planning to launch a Rs 1-trillion IPO by March 2022.
There are overvaluation and excesses in many pockets of the market. This is most obvious in the IPO market, where loss-making companies have inflicted large losses on investors, observes Debashis Basu.
HDFC was the top gainer in the Sensex pack, rising around 3 per cent, followed by Bajaj Finance, HDFC Bank, IndusInd Bank, PowerGrid, UltraTech Cement, TCS, Tech Mahindra and L&T. On the other hand, ONGC, Maruti, Tata Steel, HUL, Bajaj Auto and Sun Pharma were among the laggards.
Yellen is currently Vice Chairman of the Board of Governors of the Federal Reserve System.
We have not suffered such huge price shocks across so many basic commodities, at the same time, in decades. Has the inflationary impact of all this been factored into stock prices as yet, asks Debashis Basu.
'In 2022, active management, long-short strategies, multi-asset strategies, and asset allocation strategies need to be considered to meet long-term investment goals.'
The 50-share NSE Nifty closed lower by 19.25 points, or 0.19 per cent at 10,121.90
Gains in realty, teck, IT, power, consumer durables, banking and oil & gas stocks helped both the key indices to score gains.
The deluge of offerings in the primary market, a muted results season and increasing talks of a Fed taper may quicken the pace of overseas investors selling Indian equities in the near term. The next few weeks may see a dozen companies tap the market for initial public offerings and raise about Rs 30,000 crore. These include the likes of Zomato, Glenmark Life Sciences, Utkarsh Small Finance Bank and Seven Islands Shipping.
This is the first hike in about a decade, signaling a recovery.
She was born in Farrukhabad and went to the US to pursue her master's degree and a Ph.D.
Select the exact category by matching your investment horizon to the portfolio duration, suggests Sanjay Kumar Singh.
The 50-share NSE Nifty too rose by 20.35 points, or 0.19 per cent, to end at 10,908.70.
Uncertainty is emerging as the only certainty, said RBI Governor Shaktikanta Das as he emphasised on continued policy support at the December MPC meet during which members expressed concerns over spread of the Omicron variant of coronavirus, as per the minutes of the rate-setting panel released on Wednesday. After three days of deliberations, the six members of the Monetary Policy Committee (MPC) on December 8 unanimously voted for status quo on policy rates for the ninth consecutive time. At the meeting, the RBI Governor said risks stalking the global economy have amplified with rapid spread of the virus mutations, including the Omicron variant, leading to countries scrambling for restrictions.
Even if the bull run may continue, most experts say some profit booking is called for, points out Sanjay Kumar Singh.
HDFC was the top loser in the Sensex pack, shedding over 2 per cent, followed by Axis Bank, Bharti Airtel, M&M, Reliance Industries, ICICI Bank, IndusInd Bank and Titan.
IndusInd Bank was the top gainer in the Sensex pack, rallying around 8 per cent, followed by Kotak Bank, Reliance Industries, HDFC, Axis Bank and SBI. On the other hand, Hero MotoCorp, Tata Steel, Bajaj Auto and ONGC were among the laggards.
'There will always be a challenge to maintain a fine balance to ensure that the growth keeps happening and inflation is contained.'
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.
Health officials in United States on Friday confirmed that a resident of Oregon has tested positive for coronavirus with no known history of travel to countries severely affected by the outbreak and no known contact with infected individuals.
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.
The market's sensitivity to the US Fed's balance sheet changes makes it vulnerable to the possible tapering of the bond buying programme and the resulting stagnation or even shrinkage in the balance sheet.
'Indian macro conditions have never been better, and many businesses will safely compound earnings over the next five years.'
The US Federal Reserve has announced to maintain its bond purchase tapering programme.
A weak dollar in overseas market in view of the Federal Reserve's cautious stance on interest rate strengthened the rupee value.
HDFC was the top gainer in the Sensex pack, rallying over 7 per cent, followed by HCL Tech, M&M, HDFC Bank, Tata Steel, SBI, Bajaj Finance and Infosys. On the other hand, Axis Bank, Asian Paints, HUL, Titan and IndusInd Bank were among the laggards.
Traders broadly expect the rupee to stay in a 61.50 to 63.50 range over the next three months.
After opening higher, the markets continued to trade in the positive zone in the afternoon session as traders were encouraged by RBI governor Shaktikanta Das's statement that the new resolution framework is expected to give durable relief to borrowers amid the Covid-19 crisis, said Narendra Solanki, head-equity research (fundamental), Anand Rathi.
Fears that FIIs would curtail their investments in emerging markets following the Fed's tapering plan hurt sentiment.
Announcing her appointment, IMF Managing Director Christine Lagarde hailed the Mysore-born Gopinath as "one of the world's outstanding economists with impeccable academic credentials, a proven track record of intellectual leadership and extensive international experience".
Many believe that the surge in the markets defy economic reality and is being fuelled by aggressive monetary easing by central banks across the world.
UltraTech Cement was the top gainer in the Sensex pack, rising 3.06 per cent, followed by IndusInd Bank, ICICI Bank, HDFC Bank, Titan, Axis Bank, SBI and Reliance Industries. NSE Nifty advanced 78.35 pointsto close at 14,814.75.
'In the overall global portfolio, India's weighting has come down in the past seven months.'
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