The 30-share Sensex ended 684 points higher at 20,647 and the 50-share Nifty added 216 points at 6,116 levels.
'Avoid going overweight on gold. But maintain a 10 per cent allocation via sovereign gold bonds,' Bajaj Capital MD Sanjiv Bajaj tells Sarbajeet K Sen.
In August, the Fed announced that it would develop a "new interbank 24x7x365 RTGS with integrated clearing functionality to support faster payments in the United States". The Fed Board asked for comments on FedNow by November. In reply to this, Google mentioned its experience of launching Google Pay -- Google's payments app which uses the UPI -- in India.
The rate hike in the future is set to be 'calibrated and cautious'.
In signs that the country's growth is on track, the economic activity across the country improved in recent months, according to the US Federal Reserve.
The market breadth was firm. Out of 2,933 stocks traded , 1,685 stocks advanced compared to 1,136 declined on BSE.
'Today, there is no easy money to be made after the run-up in equities.'
The broader NSE Nifty jumped 57.25 points or 0.49 per cent to close at 11,844.10.
Kotak Bank was the top loser in the Sensex pack, falling around 3 per cent, followed by Axis Bank, Sun Pharma, HDFC Bank, Bajaj Finance and Asian Paints. On the other hand, ONGC, PowerGrid and IndusInd Bank were the gainers.
After outperforming the broader market and their public sector peers for the better part of the post-Lehman period, private sector banks - such as HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank - are now underperforming. Last week, the Nifty Private Bank index was up just 6 per cent year-to-date in the calendar year 2021, against nearly 13 per cent rally in the Bank Nifty and a 15 per cent rise in the benchmark Nifty50. Public sector (PSU) banks, such as State bank of India, Bank of Baroda, and Punjab National Bank, are now rally leaders and outperforming the broader market. The Nifty PSU Bank index was up 42 per cent since the beginning of this calendar year. But on a longer term, the Nifty Private Bank index is up 101 per cent since March 2016, against a 118 per cent rally in the Bank Nifty and just 2 per cent rise in the Nifty PSU Bank index in the period.
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.
Foreign portfolio investors (FPI) have pumped in a net sum of Rs 49,553 crore in Indian markets this month so far on back of high liquidity coupled with improving global indicators and clarity after the US presidential elections. FPIs invested Rs 44,378 crore in equities and Rs 5,175 crore in the debt segment, taking the total net investment to Rs 49,553 crore between November 3-20. In October, FPIs invested a net sum of Rs 22,033 crore.
Sentiments were also bearish largely in tandem with a sell-off in global markets as US Treasury yields surged to multi-year highs on robust economic data and comments from the Federal Reserve, sparking fears of accelerating inflation, brokers said.
The broader NSE Nifty too ended 98.30 points, or 0.89 per cent, down at 10,918.70.
The Federal Reserve, whose policy-setting Federal Open Market Committee concludes a two-day meeting on Wednesday, has said it expects to keep short-term interest rates exceptionally low to help support the economy.
'It is going to be a tough balance for the RBI to manage economic stability and ensure smooth government borrowing.'
'When I came here in 2002, I said you can grow at 8%.' 'And I was told that was crazy, and (now) here we are.'
The announcement of the Federal Reserve sent markets to a tizzy
Inflation rate during August, the data for which is yet to be released, was likely to remain at about 7 per cent, said SBI Ecowrap.
At the outset, decide whether you want to be a trader or an investor, suggest Sarbajeet K Sen and Sanjay Kumar Singh.
The comment was in response to a June 19 Reuters story citing sources with knowledge of the matter as saying that India planned to clear some oil payments to Iran through the United Arab Emirates central bank.
Equity markets braved all odds this fiscal and rewarded investors with high returns as the benchmark Sensex surged more than 66 per cent despite COVID-led disruptions and concerns over its impact on the economy. Market analysts termed FY 2020-21 as a roller coaster ride for not only Indian markets but also for equity indices globally due to the pandemic. In an unprecedented come back, the 30-share BSE Sensex has jumped 19,540.01 points or 66.30 per cent so far this fiscal. This extraordinary rally holds significance as markets faced volatile trends this fiscal.
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
The tiny Central American nation of El Salvador has embarked on an interesting experiment by recognising bitcoin as legal tender. This is proving painful for many of its citizens but it's a useful "pilot" project for larger economies that are contemplating the peculiarities of this new asset class. El Salvador has a population of 6.5 million and GDP of about $27 billion.
The Sensex closed 202 points lower to end at 26,838.
Markets are assuming that by the second half of 2021, the world will be approaching some type of normalcy, points out Akash Prakash.
Reflecting nervousness over the prospect of the Federal Reserve tightening policy and event risk, traders stayed on the sidelines
India's exposure to Greece being limited fuelled the rally.
Yes Bank was the biggest gainer in the Sensex pack, soaring 6.04 per cent, followed by IndusInd Bank, Tata Steel, HeroMotoCorp, Sun Pharma, Bajaj Auto, Power Grid, Tata Motors, SBI and Kotak Bank that gained up to 5.32 per cent.
Led by the weak trend in the broader market, the market capitalisation of BSE-listed companies plunged Rs 1,65,437.91 crore to Rs 1,38,54,439.41 crore.
The broader markets outperformed the benchmark indices.
While gold added Rs 310 to hit the record level, silver rose by Rs 800 to Rs 62,000 per kilogram.
'It is less dependent on imported capital.'
'The consolidation of the world's fifth-largest economy in the hands of 15-20 corporate giants is a once-in-generation event, which we are focusing on.'
The S&P BSE Sensex gained 57 points to end at 26,064.
The 30-share Sensex ended at 25,706 down 151 points.
sharper-than-expected economic recovery back home, analysts say, can fuel a further rally in domestic cyclicals, industrials, and financials as global central banks continue with their easy money policy.
Top gainers in the Sensex pack included Tata Steel, Vedanta, SBI, Tech Mahindra, Bajaj Finance, Asian Paints, M&M, NTPC and PowerGrid, rising up to 3.95 per cent.
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