The BSE Sensex slumped 456 points on Wednesday, tracking losses in index majors Reliance Industries, Infosys and ICICI Bank as market participants continued to book profits at high levels.
ITC has been one of the best performing large-cap stock at the bourses thus far in calendar year 2022 (CY22), rallying nearly 52 per cent during this period and outperforming the sector benchmark - the S&P BSE FMCG index - by a wide margin that moved up around 17 per cent during this period. However, the counter has lost over 5 per cent from its recent high of Rs 346.25 hit on September 23, 2022 and has underperformed the S&P BSE Sensex, which has lost nearly 2 per cent since then. So, is the rally in the stock coming to an end, and is this a good time to book profit?
ICICI Bank's valuation tumbled Rs 6,883.44 crore to Rs 3,48,532.24 crore, taking the worst hit among the top-10 firms.
Reliance Industries and Nitesh Estates, a Bangalore-based real estate developer, are in the shortlist to buy Hindustan Unilever's Brookefields property in Bangalore.
Axis Bank was the top loser in the Sensex pack, skidding over 3 per cent, followed by IndusInd Bank, Titan, HDFC, ICICI Bank, ONGC and HDFC Bank. On the other hand, Reliance Industries, Sun Pharma, HUL, Bharti Airtel and TCS were among the gainers.
Bajaj Finance was the top gainer in the Sensex pack, spurting around 4 per cent, followed by SBI, Tata Steel, HDFC, Bajaj Finserv, HCL Tech and M&M. On the other hand, ONGC, Tech Mahindra, TCS, HUL and Maruti were among the laggards.
Kotak Bank was the top loser in the Sensex pack, dropping over 2 per cent, followed by Sun Pharma, Bajaj Finserv, L&T, Bajaj Finance, HUL and Titan.
While both Dabur and HUL have been aggressive in the 'naturals' market with new launches across its portfolio, unchecked distribution expansion and inconsistent quality of products have also been at the heart of Patanjali's problems.
M&M was the top gainer in the Sensex pack, jumping around 6 per cent, followed by Titan, HCL Tech, Tata Steel, Infosys and TCS. On the other hand, Axis Bank, HUL, Kotak Bank and Bharti Airtel were among the laggards.
Investors' wealth has swelled by over Rs 13.16 lakh crore as benchmark indices continued their northward march for the fifth session on the trot on Monday. The 30-share BSE Sensex jumped 935.72 points or 1.68 per cent to settle at 56,486.02 on Monday. In the past five trading sessions, the benchmark has zoomed 3,643.27 points or 6.89 per cent. Propelled by the optimism in equities, the market capitalisation of BSE-listed firms jumped by Rs 13,16,944.74 crore in five trading sessions to Rs 2,54,27,775.78 crore.
Investors have lost a hefty Rs 11,45,267.43 crore in two days as the domestic equity market continued to face severe drubbing amid a global selloff. The BSE benchmark Sensex plunged 1,189.73 points or 2.09 per cent to close at 55,822.01 on Monday. During the day, it tanked 1,879.06 points to 55,132.68.
In the Sensex pack, major gainers were Tech Mahindra, Wipro, Bajaj Finserv, Infosys, SBI and PowerGrid. NSE Nifty rallied 237.90 points to 17,339
Hindustan Unilever shares were up 3.7 per cent at 9.24 am after earlier hitting an all-time high of Rs 632.
Gains were led by HUL on better-than-expected margins in March quarter and capital goods shares.
NSE Nifty finished higher by 46.05 points, or 0.39 per cent, at 11,707.90. Asian Paints was the top gainer in the Sensex pack, rallying 6.32 per cent, followed by Nestle India, HUL, Bajaj Auto, IndusInd Bank, Tata Steel, Maruti and PowerGrid.
The Indian IT services sector is scrambling to retain talent since digitisation-led transformation has increased the demand for a digitally skilled workforce. As a result, the pull for jobs for tech professionals is also coming from non-IT sectors, leading to higher attrition among IT companies. The average number of tech jobs from non-IT sectors has seen a 41 per cent uptick in March-May'21 versus March-May'19, according to data from Naukri.com.
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.
The stock market's momentum will be guided by the ongoing quarterly earnings season, with Reliance Industries, HUL and Bajaj Finance among those scheduled to announce their results this week, analysts said. Focus would also remain on the COVID situation, global stock markets, investment pattern of foreign institutional investors (FIIs), rupee-dollar trend and Brent crude, they added. "The earnings season would gain pace this week and participants will be closely eyeing the results of some of the top names like Reliance, Ultratech Cement, Bajaj Auto, JSW Steel, Bajaj Finance, Asian Paints, Hindustan Unilever among others. "Before that, markets will first react to the earnings of two heavyweights -- HCL Technologies and HDFC Bank in early trade on Monday," said Ajit Mishra, VP Research, Religare Broking.
The market valuation of Tata Consultancy Services (TCS) jumped Rs 31,294.89 crore to Rs 8,25,149.40 crore while Reliance Industries Limited (RIL) added Rs 28,464.11 crore to take its market valuation to Rs 11,33,168.55 crore.
NTPC was the top gainer in the Sensex pack, rising around 4 per cent, followed by Bajaj Finserv, SBI, Bajaj Finance, Tech Mahindra, Dr Reddy's and Tata Steel.
Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices. The 30-share BSE Sensex opened strong and gained momentum as the session progressed, but came under severe selling pressure in afternoon trade to close 37.78 points or 0.07 per cent lower at 54,288.61. On similar lines, the broader NSE Nifty slipped 51.45 points or 0.32 per cent to end at 16,214.70.
Kotak Bank was the top loser in the Sensex pack, shedding over 1 per cent, followed by ICICI Bank, Tech Mahindra, Bajaj Auto, Mahindra and Mahindra, SBI and Axis Bank. NSE Nifty tumbled 66.25 points to 15,748.45.
The top-10 valued companies added a whopping Rs 2.72 lakh crore to their market valuation last week, as the domestic equity benchmarks witnessed heavy buying tracking an overall bullish trend in global equities. The benchmark indices made strong gains in the holiday-truncated week. The 30-share BSE Sensex climbed 2,313.63 points or 4.16 per cent, while the NSE Nifty advanced 656.60 points or 3.95 per cent. Mirroring the bullish trend in the broader market, the combined market capitalisation (m-cap) of the country's top-10 firms zoomed by Rs 2,72,184.67 crore during last week.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
M&M was the top gainer in the Sensex pack, soaring over 10 per cent, followed by L&T, IndusInd Bank, Bajaj Finserv, SBI, Bajaj Finance, ICICI Bank and Kotak Bank. On the other hand, HUL, ITC, Titan TCS and Bharti Airtel were among the losers.
Sunil Chhetri was once again the man of the moment as he struck a brace to inspire India to a 2-0 win over Cambodia in the third round of qualifying for next year's Asian Cup.
Consumer-focused companies have been left with few options but to increase the prices of their products as input costs mount because of various factors, including supply chain disruptions. This has been affecting monthly household budgets. Prices of scores of items -- from spices to soaps to rice -- have increased in the past year.
Tata Steel was the top loser in the Sensex pack, plunging over 8 per cent, followed by SBI, Dr Reddy's, Kotak Bank, Sun Pharma, Bajaj Auto and L&T. NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50.
Bajaj Finance was the top laggard in the Sensex pack, tumbling over 4 per cent, followed by Asian Paints, Bajaj Finserv, HCL Tech, Maruti and Infosys. On the other hand, IndusInd Bank, SBI, HUL, Tata Steel and ITC were among the gainers.
Kotak Bank was the top gainer in the Sensex pack, rallying over 8 per cent, followed by TCS, Infosys, ICICI Bank, HCL Tech and ONGC. On the other hand, Titan, HUL, PowerGrid, NTPC and Nestle India were among the laggards. NSE Nifty advanced 126.60 points, or 1.38 per cent, to settle at 9,313.90.
SBI was the top gainer in the Sensex pack, spurting over 2 per cent, followed by TCS, Tech Mahindra, HUL, Bajaj Finance, Kotak Bank and Titan. On the other hand, IndusInd Bank, PowerGrid, Bharti Airtel, Asian Paints and HDFC Bank were among the laggards.
M&M was the top gainer in the Sensex pack, zooming over 5 per cent, followed by PowerGrid, ITC, L&T, Tech Mahindra, Titan and Tata Steel. Nifty rallied 169.80 points to 18,161.75.
Industry officials say the crunch has not only affected manufacturing of edibles but even of items like nozzle pumps and other goods used in packaging.
After 42 years at Hindustan Unilever (HUL) and different roles across Unilever's global operations, Harish Munwani, 65, retired as HUL's non-executive chairman. A day before Manwani bid adieu at HUL's 85th annual general meeting on Friday, he spoke to Viveat Susan Pinto & Vishal Chhabria on what kept him going at the firm and the challenges that await HUL.
Titan was the top gainer in the Sensex pack, zooming over 10 per cent, followed by M&M, Maruti, IndusInd Bank, Asian Paints, Sun Pharma, HCL, TCS, Tech Mahindra and ICICI Bank. The NSE Nifty rose 144 points to 17,790.35.
The 30-share BSE benchmark jumped 533.74 points or 0.91 per cent to 59,299.32. During the day, it zoomed 783.24 points to 59,548.82.
PowerGrid was the top loser in the Sensex pack, shedding around 3 per cent, followed by Asian Paints, Axis Bank, Kotak Bank, Bajaj Auto, SBI and M&M.
The company plans to overhaul business and rationalise costs in a bid to reach parent Unilever's new profit targets, reports Viveat Susan Pinto.
Top gainers in the Sensex pack included Yes Bank, Sun Pharma, IndusInd Bank, Tata Steel, HUL, Vedanta, Tata Motors, ICICI Bank, ITC, HDFC and Bajaj Auto, that rose up to 3.75 per cent.
At the grand global policy-making level, the Indian government is heatedly arguing with the developed world over its share of stringent new carbon emission reductions.
