Equity benchmark Sensex on Monday crashed about 1,546 points to sink below the 58,000-level due to across-the-board selloff tracking sluggish global markets. Besides, persistent foreign capital outflows continued to affect the market sentiment, traders said. Benchmark indices started the session on a weaker note and the selling intensified during afternoon trade, with almost all sectoral indices ending in the red. The 30-share BSE Sensex ended 1,545.67 points or 2.62 per cent lower at 57,491.51.
The Tata Tech IPO will be the first from the Tata group since TCS listed its shares in 2004.
The Supreme Court has sought responses of the Centre, CBI, the Enforcement Directorate and others including 13 states on a plea alleging fraudulent activities by motivational speaker Vivek Bindra and his firm Bada Business Pvt Ltd. Accusing the social media influencer and his firm of tricking people into giving them their money through a ponzi scheme that promised big returns, the petition sought a direction to the Centre to constitute a special investigation team (SIT) of the CBI to probe the case. A bench comprising MM Sundresh and SVN Bhatti took note of the submissions of senior advocate Vikas Singh, appearing for Shubham Chaudhary and 19 other petitioners, that Bindra and his firm have duped several people of their money.
Money flowing into the equity schemes of mutual funds is back at a level last seen before the 2008 financial crisis, when the stock market tanked 60 per cent.
Tata Steel fell the most by 4.21 per cent. NTPC, Tata Motors, HCL Technologies, Mahindra & Mahindra, State Bank of India, Power Grid, Tech Mahindra, Larsen & Toubro and JSW Steel also declined. HDFC Bank was the only gainer from the pack. In Asian markets, Seoul, Tokyo and Hong Kong settled in the positive territory while Shanghai ended lower.
Equity investors became poorer by over Rs 9.75 lakh crore in two days of heavy decline in the equity market, with the Sensex plunging 1,457 points on Monday. The 30-share BSE benchmark tanked 1,456.74 points or 2.68 per cent to settle at 52,846.70 on Monday. It had ended 1,016.84 points or 1.84 per cent lower at 54,303.44 on Friday.
CoinSwitch has 7.21 times more cash holdings in rupees, compared to that held by its users on its platform.
Influenced by ads like 'Make money sitting at home', 'Make Rs 10 lakh with just Rs 1,000', to YouTube influencers promoting 'pump-and-dump' stocks, a vast majority of small investors who mushroomed during the COVID-19 period are losing money in reckless overtrading in the market, cautions Dr V K Vijaykumar, Chief Investment Strategist at Geojit Financial Services.
These commandments when strictly followed can make you a successful investor; make you richer.
'The news about the new virus strain in the UK provided them with an opportunity to take money off the table.'
Shares of Adani group firms have faced heavy drubbing since Tuesday's close last week, after US-based short seller Hindenburg Research made damaging allegations against the conglomerate. Most of the group firms fell for the third day running on Monday. Since Tuesday's close last week, shares of Adani Transmission have tumbled 41.66 per cent, Adani Total Gas tanked 39.57 per cent, Adani Green Energy declined 37.55 per cent and Adani Ports fell 23.75 per cent on the BSE.
Bajaj Finance was the top loser, tumbling 4.68 per cent, followed by Tech Mahindra, IndusInd Bank, ICICI Bank, SBI, Reliance Industries, Bharti Airtel and HCL Tech. NSE Nifty crashed 290.70 points or 2.43 per cent to 11,680.35.
Young investors speak about their experience in the recent market crash. They, it seems, remain undaunted and want to put more money into stocks going ahead.
Many factors leading to the 2008 financial crisis still exist.
Equities went into a tailspin on Wednesday after the Reserve Bank surprised the market with a mid-cycle rate hike in a bid to tame soaring inflation.
Dragged down by a massive fall in the stock market, total investor wealth slumped by nearly Rs 3 lakh crore on Tuesday as shares of over 2,200 listed firms ended in the red.
'Long-term retail investors should not worry about these sharp dips and jumps if they have chosen their stocks wisely.' 'Short-term volatility is a given and a rise and fall of two-three per cent should not worry them.'
The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
Led by a $6.5 billion surge in personal net worth on Tuesday, Gautam Adani, chairman of the Adani Group, is back in the top 20 of the world's richest list and is now ranked 19th globally. Adani is also now India's second richest with a net worth of $66.7 billion as of Tuesday, per the Bloomberg Rich List, while Mukesh Ambani, chair of Reliance Industries, is ranked number one in India and number 13 in the world with a net worth of $89.5 billion.
In line with a weak stock market where benchmark Sensex plunged nearly 300 points, as many as 263 stocks hit their respective one-year lows on BSE on Monday.
Mumbai's property markets, where prices earlier crossed Rs 1 lakh per sq. ft in South Mumbai, are seeing a 20-25 per cent markdown from last year's levels.
Only the top 5 per cent profit makers account for 75 per cent of profits.
The BJP claimed that the small investors lost huge amount of money during the one and a half hours when the market crashed.
Loan against gold as a product is catching on fast. Let's keep the momentum going, but aim for sustainable growth. A few bad apples should not ruin the brunch, argues Tamal Bandyopadhyay.
'Indians are basically liked because they are educated, they are intelligent.'
On the Sensex chart, Axis Bank, Titan, IndusInd Bank, HDFC Bank, Dr Reddy's, HDFC and Asian Paint were major losers.
India's mutual fund (MF) industry had barely any retail footprint when it completed 50 years in 2013. MFs had Rs 7 trillion in assets under management (AUM) in March 2013, of which around Rs 5 trillion was in institution-focused debt funds. By comparison, bank deposits in the country stood at Rs 67.5 trillion around the same time.
If you simply understand that you do not understand the sock market, that will be a favour. A big favour...
The lowest price of the India-South Africa tickets is of Rs 900 which are being sold for around Rs 5000 in the black market.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Inspired from a real life incident, this is the story of how Aarti buckled herself up after her divorce and rebuilt her financial life.
The 50-share NSE Nifty also cracked the 10,600-level by falling 259 points, or 2.39 per cent, to close at 10,599.25 after hitting a low of 10,547.25.
Scores 0 on front seat protection and 2 stars for rear seat child occupant protection
We need players with confidence in front of goal: Stimac after India's Asian Cup exit
Finance Minister Nirmala Sitharaman on Saturday said the country's regulators are very experienced and are seized of the matter relating to the Adani Group crisis. The minister was replying to a question on the observations of the Supreme Court on public interest litigations (PILs) alleging exploitation of investors and "artificial crashing" of the Adani Group's stocks. "I will not disclose here what the government will be saying in the court...India's regulators are very, very experienced and they are experts in their domain.
The stocks Radhakishan Damani enters or exits are closely watched by fund managers, says Joydeep Ghosh.
Operator syndicate could be behind stock hammering, suspects regulator.
At the heart of Paytm's slide lies the abject failure of its Super App strategy, notes Indrajit Gupta.
It was a 'Black Monday' again in markets today and history shows that seven out of the ten biggest carnages on Dalal Street has taken place on a Monday!
Investors can sell their entire equity and move to debt when stocks get expensive
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