All sectoral indices ended lower. BSE Telecommunication tanked 2.18 per cent, metal (1.77 per cent), auto (1.70 per cent), energy (1.64 per cent), oil & gas (1.59 per cent), commodities (1.39 per cent) and financial services (1.37 per cent) were the major laggards.
'IPOs have performed exceptionally well, with a notable increase in average ticket size from Rs 800 crore in the last financial year to around Rs 1,300 crore in this financial year.'
'If individual stocks start falling 25% to 30% or more, then I doubt how many of them will be able to withstand that (kind of selloff). That is when you'll see panic coming in.'
Trends in the global markets, trading activity of foreign investors and announcement of domestic macroeconomic data are the major factors that would drive investors' sentiment in a holiday-shortened week ahead, analysts said. Benchmark indices had a record-breaking rally in the past week driven by impressive GDP data. Equity markets would remain closed on Friday for Mahashivratri.
Foreign investors have pulled out Rs 22,420 crore from the Indian equity market so far this month, owing to high domestic stock valuations, increasing allocations to China, and the rising US dollar as well as Treasury yields. With this sell-off, Foreign Portfolio Investors (FPIs) have recorded a total outflow of Rs 15,827 crore in 2024 so far. As liquidity tightens, FPI inflows are expected to remain subdued in the short term.
Market reaction to the Union Budget was overall neutral. The income tax "gift" wasn't enough to move the needle. There was some apparent rationalisation of Customs duty structure as well as cuts on import duties of some key components for the telecom and IT industry and duty cuts on vehicle imports. Other proposals related to development of agriculture and rural economy and renewables seem to be generally positive.
Gold prices slumped for the second straight session by Rs 1,150 to Rs 78,350 per 10 grams in the national capital on Monday on frantic selling by stockists and retailers, the All India Sarafa Association said. The precious metal of 99.9 per cent purity closed at Rs 79,500 per 10 grams on Friday.
Equity investors will track the trading activity of foreign investors, global trends and ongoing earnings results for further cues, and benchmark indices may continue to witness consolidation in a holiday-shortened week amid the monthly derivatives expiry, analysts said. Markets fell sharply last week amid massive foreign capital outflows and dismal Q2 earnings so far. Weakness in the markets might continue in the near term amid cautiousness among investors ahead of the US presidential election early next month, an expert said.
The exit of WeWork from its India unit is unlikely to have an impact on the country's co-working real estate market, according to industry executives. The company last week received approval from the Competition Commission of India (CCI) to sell its entire 27.5 per cent stake in the India unit to Real Trustee Advisory Company. The majority of the stake (72.5 per cent) in WeWork India is owned by Bengaluru-based Embassy Group.
The value of private equity (PE)-backed mergers and acquisitions (M&As) in India reached a six-year low during the first seven months of the current calendar year, amid ongoing global uncertainties. The total value of these deals stood at $6.2 billion during the period, down from $9 billion in the same period last year, and lower than the $14 billion recorded during the corresponding period in 2019, according to data from LSEG Deals Intelligence. PE funds pool capital from investors, including high-net-worth individuals, to invest in high-return opportunities.
Gold price outlook 2025: Gold prices that have climbed over 30 per cent so far in 2024 to Rs 7,300 per gram in the Indian markets (up 28 per cent in dollar terms till November-end), are set for their best calendar year performance in 10 years, suggests a recent report by World Gold Council (WGC). However, this stellar run, analysts believe, may not carry through till the end of 2025 in the backdrop of economic and geopolitical headwinds.
From the 30-share Sensex pack, 23 scrips declined in Wednesday's session, led by IndusInd Bank, Bajaj Finance, Tata Motors and Tata Steel which fell by up to 3.87 per cent.
'Largely, new demat accounts are now being opened by the younger crowd, particularly GenZ.' 'This is great news since younger investors start their journey with very little capital, so they are risking less.'
'Investors may have made money in mid and smallcaps due to market momentum, but now they need to focus on fundamentals.'
From the Sensex basket, Kotak Mahindra Bank, HCL Technologies, ICICI Bank, Infosys, Tata Consultancy Services, Wipro, Tech Mahindra and Larsen & Toubro were the major laggards. Mahindra & Mahindra, Nestle, Tata Motors and IndusInd Bank were among the gainers.
According to CITU, around 90% of the 1,723 workers of the Sriperumbudur plant are participating in the strike. Samsung said it is ready to talk to employees and not a third party like CITU.
'If their allocation to certain segments have become high due to strong returns over the past three-four years, they should rebalance their portfolios and bring them in line with their long-term asset allocation.'
Shares of Bajaj Finance surged over 6 per cent on Thursday after the diversified non-banking finance company reported an 18 per cent increase in consolidated net profit to Rs 4,308 crore for the December quarter. The stock rallied 6.33 per cent intraday to touch Rs 8,249.95 - a 52-week high -- on the BSE.
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
Investor wealth eroded by Rs 6.59 lakh crore on Monday as equities tanked after the UK reported a new strain of the COVID-19 virus. The 30-share BSE Sensex plunged 1,406.73 points or 3 per cent to close at 45,553.96. The benchmark hit an all-time high of 47,055.69 during the session. Following the sharp selling, the market capitalisation of BSE-listed firms plummeted by Rs 659,313.65 crore to Rs 1,78,79,323.05 crore.
M&M was the biggest gainer in the Sensex chart, rising 6.51 per cent, followed by NTPC, PowerGrid, SBI, HDFC Bank, Asian Paints and Wipro. In contrast, Axis Bank, ITC, HUL, Nestle India and Sun Pharma were among the laggards.
From the 30-share Sensex pack, Sun Pharma, Reliance Industries, Infosys, Tata Motors, Infosys, Titan, Maruti and NTPC were among the major laggards. Mahindra & Mahindra, Tech Mahindra, HCL Technologies and IndusInd Bank were the gainers.
Stock markets would take cues from the biggest event of the week -- the US Fed interest rate decision, besides tracking the trends in global markets and trading activity of foreign investors, analysts said. Last week, a heavy decline in smallcap, midcap firms, foreign fund outflows and elevated crude oil prices in the international market dented investors' sentiments. Experts said equity markets may remain volatile in the near-term amid a host of global central bank's monetary policy decisions lined up during the week.
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'Many were caught in a burnout race, chasing unsustainable growth without innovating.'
From the 30-share pack, Hindustan Unilever, Tata Motors, Axis Bank, Nestle India, Asian Paints, ITC, Reliance Industries, Mahindra & Mahindra, IndusInd Bank and State Bank of India were among the laggards. Larsen & Toubro, Tata Steel, JSW Steel, HDFC Bank, Adani Ports, Kotak Mahindra Bank, Bharti Airtel and PowerGrid were among the gainers.
Investors' wealth tumbled Rs 86,741.74 crore on Wednesday, mirroring weakness in the global equity markets amid escalating tensions between Russia and Ukraine. The BSE benchmark Sensex slumped 1,227.18 points to 55,020.10 during the day in line with a global selloff. It finally settled at 55,468.90, lower by 778.38 points or 1.38 per cent. Surging crude prices and foreign capital outflows also weighed on investor sentiment.
Initial public offerings (IPOs) have attracted droves of retail investors to the stock market in CY22. But these applicants have lost money on 40 per cent of the fresh issues this year - a trend that may impact sentiment towards maiden share sales during the remaining part of the year. Of the 14 companies that have listed this year, five have closed below their issue price.
IndusInd Bank was the top loser in the Sensex pack, tanking over 8 per cent, followed by Bajaj Finance, SBI, ONGC, Titan, M&M, Bajaj Finserv, ICICI Bank and Axis Bank. NSE Nifty plunged 524.05 points to finish at 14,310.80.
The Adani group is in advanced talks with top sovereign funds based in West Asia to raise up to $2.6 billion for its airport expansion and green hydrogen projects. The group, which expects to close the ongoing financial year ending March with Rs 80,000 crore of Ebitda (earnings before interest, tax, depreciation, and amortisation), has held a series of road shows in London, Dubai, and Singapore with potential investors, briefing them about their future growth plans. The group's flagship, Adani Enterprises, may dilute part of its stake in the airport-holding firm and/or the green hydrogen business to these funds, which are keen to invest in the Indian infrastructure sector, said a source close to the development.
Havells India, the country's largest listed consumer electrical company, reported a mixed performance in the 2024-25 (FY25) October-December quarter (Q3). While the top line benefited from festival demand, lower margins impacted operational performance.
From the 30-share Sensex pack, Tata Consultancy Services and Infosys jumped over 4 per cent each. HCL Technologies, Tech Mahindra, Adani Ports, Larsen & Toubro, Maruti and Reliance Industries were also among big gainers. Titan, IndusInd Bank, Hindustan Unilever, Axis Bank and HDFC Bank were the laggards.
Water projects firm Vishnu Prakash R Punglia, the 20th company to launch its IPO in the current year, saw its shares closing at a 47 per cent gain over its issue price on Tuesday. Such a huge one-day pop is considered rare; however, it has become the norm this year. The average listing-day gain for these 20 IPOs in 2023 is 34 per cent, and their average gain to date stands at 46 per cent.
'Those satisfied with returns and not expecting further rally could be booking profits and also stopping SIPs.'
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From the 30 Sensex pack, Mahindra & Mahindra, State Bank of India, Power Grid, Tata Steel, IndusInd Bank, Tata Motors, Larsen & Toubro, NTPC, Bajaj Finance and Reliance were among the biggest laggards.
The advance/decline ratio (ADR) - a gauge of market breadth - has remained negative (below 1) for a second consecutive month. In other words, the number of stocks declining is outpacing those rising, as a brutal selloff by overseas investors and lofty valuations weigh on sentiment. According to BSE data, the ADR for October stands at 0.98 for the second month in a row.
Analysts are warning of growing risks to the market's sustained momentum, and even to the possibility of consolidation at current levels. Domestically, markets are grappling with several challenges, including a slowing economy, as indicated by the latest GDP data for the July-September (Q2) quarter of 2024-25 (FY25), sticky inflation, fluctuations in the rupee, waning consumption, and high interest rates.
Only investors with knowledge of cryptocurrencies, long-term conviction, and a long horizon should invest in this asset class.
Industrial metals (ferrous and non-ferrous) suffered great volatility once the Ukraine War began in February 2022. First, there was a sharp price rise due to fears of supply disruption, followed by weak global demand. China's weakness and rolling lockdowns have hit production and demand.
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