Will 2022 be a year of contrasting narratives -- one filled with caution and the other with continued optimism?
The broader Nifty closed at 11,993.05, falling by 233.60 points, or 1.91 per cent. On the Sensex chart, Bajaj Finance was the top loser, dropping 4.63 per cent, followed by SBI, IndusInd Bank, Maruti, HDFC, Hero MotoCorp, Axis Bank, ICICI Bank and RIL
'Hope they don't tinker around with capital gains tax in any way.'
However, other commodities yet to see meaningful recovery in global markets
Tech Mahindra was the top laggard in the Sensex pack, cracking over 5 per cent, followed by Infosys, HDFC, IndusInd Bank, Reliance Industries and NTPC. On the other hand, Hero MotoCorp, L&T, Maruti, UltraTech Cement and Sun Pharma led the gainers' chart.
Gold was among the least bruised by Monday's selloff, dropping half a percent versus a 6 percent slide in Brent crude and a 2 percent decline in copper.
The biggest losers of the session include Reliance, Infosys, TCS, ICICI Bank, HDFC twins, ITC, Maruti, L&T, HUL, Axis Bank, Wipro and IndusInd Bank, cracking up to 4 per cent.
The fall came on the back of a massive selloff in NBFCs, led by DHFL which skidded over 50 per cent on fears of a liquidity crisis.
Gold, forex assets, IT sector, pharma. Devangshu Datta explains why each of these is a good hedge against market shocks at this time.
'You can put 25 per cent right now; put another 25 per cent when Nifty corrects another 500 points.' 'At 13,500 put another 25 per cent and at 13,000 one can get fully deployed.'
In the Sensex pack, index heavyweight Reliance Industries fell 2.84 per cent to Rs 1,057.15 after reports that the company's oil assets may take a hit due to the government's imposition of cost controls on soaring petrol and diesel prices.
In the past four months, $7.5 billion has flowed back into domestic stocks, helping the benchmark indices bounce back more than 40 per cent from their 2020 lows.
HDFC and HDFC Bank were the biggest losers in the Sensex pack, plunging 5.09 per cent and 3.32 per cent, respectively, after the private bank reported a rise in non-performing assets.
Rs 1,000 now buys $13.5 against $14 a year ago.
'Equities are likely to be range-bound with a downward bias for the remaining part of the year.'
Other losers included Vedanta, Tata Steel, NTPC, ONGC, L&T, M&M, Coal India, Maruti, PowerGrid, Axis Bank, ITC and HDFC, dropping up to 5.75 per cent. On the other hand, Kotak Bank, Bharti Airtel, HCL Tech, Bajaj Finance and Hero MotoCorp rose up to 0.95 per cent.
Losers include ONGC, Bajaj Finance, Reliance, SBI, Hero MotoCorp, ICICI Bank, L&T, Vedanta, Yes Bank and Axis Bank, falling up to 2.54 per cent. On the other hand, Tata Steel, PowerGrid, HCL Tech, Kotak Bank and Maruti were the top gainers on Sensex, rising up to 2.31 per cent.
Monday's drop followed an 8.5 per cent slump in Chinese markets.
It had upped India's rating to Baa2 from Baa3 and changed its rating outlook to 'stable' from 'positive', saying the reforms would help stabilise rising levels of debt.
Skittish investors snapped up gold and other safe-haven assets amid fears of a global economic slowdown
The rupee had dropped 15 paise or 0.22 per cent yesterday.
Investors should consider debt mutual funds, banks fixed deposits or high-rated corporate debt instruments.
At a time when the whole world is going ga-ga over stocks and debt is too easy to borrow, do not forget gold, says Anil Rego.
Rupee ends at 61.89 against the dollar, falls for second straight day.
In overseas trade, the American currency traded lower against the yen and the euro in an Asian session as well as modest profit-taking after recent sharp gains
Spread investments in equities, bonds, gold and cash to tackle volatility advise Nitin Singh, MD and head, and Vinay Joseph, director, investment strategy, Standard Chartered Wealth Management, India.
Emerging market currencies including Indian rupee are likely to remain under pressure, though depreciation is expected to slow from here, Barclays said in a research report.
The Sensex has now lost 878.32 points in six sessions -- its longest string of losses in six months.
Brent crude prices fell to $57 a barrel on Monday from $62 a barrel.
Tuesday's was the S&P's worst drop since August 24.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Coca-Cola will sell off its bottling business in India in the next few years.
The Dow has never lost more than 800 points in a day.
The rupee sank below 60 rupees to the dollar and government bonds had their biggest single-day fall in a month on Monday as higher-than-expected May inflation compounded worries about the impact of violence in Iraq on the price of oil, which India imports.
Oil fell below $59 a barrel for the first time since May 2009 on Tuesday, extending a six-month selloff as slowing Chinese factory activity and weakening emerging-market currencies added to concerns about demand.
Issuers are currently not comfortable with the bids they have been getting for their bond offerings.
Indian indices have hit all-time highs in the New Year and the sentiment remains strong. All valuations are also at extremely high levels, cautions Devangshu Datta
Gold slipped to near 5-1/2-year lows on Friday and was on course for a sixth straight weekly fall.
S&P BSE Midcap index and S&P BSE Smallcap were down 2% and 1.3% respectively
UBS reiterated its Nifty target of 9,200 by December as it expects growth to gather steam
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances