In line with overall trends, silver ready recovered by Rs 150 to Rs 36,800 per kg and weekly-based delivery by Rs 175 to Rs 36,800 per kg.
For a while, it seemed the markets were going on a free fall.
Only the top 5 per cent profit makers account for 75 per cent of profits.
Oil prices have already fallen over 70 per cent since the downturn began in mid-2014.
Snapping its four-day losing streak, gold rebounded by Rs 100 to Rs 27,070 per ten grams at the bullion market on Wednesday.
TCS, Infosys and Wipro were down 0.4-2% each. Capital goods majors also ended lower with L&T and BHEL down 1.4-3.9% each.
India's exports are becoming less vulnerable to changes in world demand and exchange rates, according to a publication titled 'Re-examining Narratives: A Collection of Essays', penned by chief economic advisor (CEA) V Anantha Nageswaran and his team. The publication pointed out that this conclusion has been drawn from the fact that there has been a decrease in the income elasticity of exports to 3.44 during 2009-2022, from 5.67 during 1991-2008, and in the inverse price elasticity of exports to 0.4 from 2.7. While a decline in elasticities is favourable in the presence of downside risks such as a decline in global demand and an appreciation of exchange rates, it may not be beneficial during boom periods.
Private life insurers experienced reasonable growth in the July-September quarter (second quarter, or Q2) of 2023-24 (FY24), and the October data is also encouraging. The individual weighted received premium (WRP) for private players grew by 19.8 per cent year-on-year (Y-o-Y) in October. However, Life Insurance Corporation (LIC) of India had slower growth, pulling the industry growth rate down to 13 per cent Y-o-Y.
Foreign flows into Indian equities are expected to pause in the short to medium term, say analysts. The outlook is influenced by multiple factors, including rising oil prices, actions from global central banks, climbing bond yields, and the dollar index gaining prominence. "Valuations appear rich with the markets at record highs.
Gold prices rebounded by Rs 190 to Rs 31,000 per ten grams in the national capital today on pick up in festive season demand.
Reliance Industries, Infosys and Tata Motors were the top contributors
Traders said apart from increased buying by jewellers and retailers to meet seasonal demand, a firming trend in global markets on increased tensions in Ukraine and weakening dollar mainly influenced precious metal prices.
The broader NSE Nifty climbed 61.60 points, or 0.58 per cent, to close at 10,772.05.
Professional soccer has been suspended indefinitely across Europe since last month but countries and leagues are now planning for a return to training and competition without fans in attendance in May or June when restrictions are relaxed.
It has been a difficult year for the world's second-largest economy.
The broadening of the market rally sends the signal that growth will be broad-based, observes Akash Prakash.
The NSE Nifty gained 59 points to close at 4,453. The market breadth was positive - out of 2,744 stocks, 1,525 advanced and 1,140 declined.
International Monetary Fund (IMF) chief economist Gita Gopinath has made a strong case for regulating cryptocurrencies, saying it will always be a challenge to ban them as they operate from offshore exchanges. Gopinath also suggested a global policy and co-ordinated action for regulating cryptocurrencies. "I think cryptocurrencies are a particular challenge for emerging markets. "It seems to be more attractive to adopt cryptocurrencies and assets in emerging economies than in advanced economies," she said while addressing an event organised by the National Council of Applied Economic Research (NCAER) on Wednesday.
The fees charged by investment banks to manage initial public offerings (IPOs) have increased to an average 3.23 per cent of the issue size this calendar year, the highest since 2020. The average fee is up 8 per cent compared to last year, when it stood at 2.99 per cent. The investment banking fees have increased as the average IPO size has shrunk this year.
The rupee had retreated from three-week high and ended six paise down at 60.67 against the dollar on demand from importers for the US currency in Thursday's trade.
The NSE Nifty touched a fresh 25-month high of 5,447, and ended with a gain of 43 points at 5,442. The market breadth was marginally positive - out of 3,014 stocks traded today, 1,546 ended higher, while 1,362 declined.
The answer to that depends on whether the globe is able to contain the virus spread, says Samie Modak.
On the Sensex chart, Tata Steel, HDFC Bank, Ultratech Cement, PowerGrid, ONGC, Kotak Bank and Axis Bank were among prominent gainers. Nifty settled 82.10 points or 0.70 per cent up at 11,762.45.
The year-to-date returns are 13.33 per cent for Indian funds, compared to 11.66 per cent for emerging market funds overall.
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.
With sentiment for the automotive (auto) sector turning positive, stocks of two-wheeler auto majors have been hitting their 52-week highs. Hero MotoCorp, Bajaj Auto, TVS Motor Company, and Eicher Motors recently reached their yearly highs on strong sales in the festival season and the expectation of faster growth rates ahead. Since the start of this month, listed two-wheeler majors have delivered returns in the 12-17 per cent range, compared to the 7 per cent gains for the S&P BSE Auto Index and 3 per cent for the benchmark S&P BSE Sensex.
India's leading capital goods and engineering firms are in the midst of one of their busiest seasons, with the combined orderbook surging past Rs 8 trillion in value. As on September 30, 2023, 13 of India's top 15 listed capital goods and engineering firms, for which data for the September 2023 quarter was available, had a total orderbook worth Rs 8.45 trillion - a number unseen at least since 2018-19. "This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector.
The NSE Nifty ended flat at 5,123. Weakness was witnessed in specific sectors like power and FMCG. The BSE power and FMCG indices dropped 0.5% each. However, the realty index managed to hold on to gains and was up 25 at 3,959. Auto and bankex were the other gainers.
The NSE Nifty ended at 5,052, up 64 points. The market breadth tunred positive at close - out of 2,787 shares traded, 1,462 advanced, 1,226 declined on the BSE.
The broader NSE Nifty gained 17.35 points or 0.16 per cent to end at 10,997.35.
Silver also rose 0.8 per cent to $16.63 an ounce.
Macroeconomic management is usually a lot more comfortable with lower fiscal deficits. The sooner we get there, the better for the economy, says former Chief Economic Adviser to the Government of India Shankar Acharya.
Companies, which missed out on listing earlier, are giving it another shot but with significantly-reduced issue sizes. In the recent past, companies such as TVS Supply Chain Solutions, Suraj Estate Developers, and ESAF Small Finance Bank have re-filed their draft red herring prospectuses (DRHPs) with the Securities and Exchange Board of India (Sebi). This came after they slashed their issue sizes by 20-60 per cent.
The markets snapped their three-day losing streak due to buying in index heavyweights and a rebound in IT stocks.
Among the Sensex firms, Tech Mahindra, Wipro, Infosys, Tata Consultancy Services, HCL Technologies, Larsen & Toubro, ITC, Sun Pharma, NTPC and Titan were the major gainers. Nestle, Axis Bank, Tata Motors, ICICI Bank, HDFC Bank and Bharti Airtel were the laggards.
Info Edge (India) reported a good fourth quarter for the 2022-23 financial year (Q4FY23) given depressed conditions in the Key IT segment. The billing growth of 13.7 per cent year-on-year (YoY) in recruitment was well ahead of market expectations. There was solid growth in realisations (up 5.5 per cent) as well as unique customers (up 7.7 per cent).
Dariusz Kowalczyk of CFC Group expects a sharp rebound in Asian markets due to lower energy prices.
Titan was the top gainer in the Sensex pack, rising around 4 per cent, followed by HDFC, Nestle India, IndusInd Bank, UltraTech Cement and Bharti Airtel. On the other hand, Bajaj Auto, Tata Steel and NTPC were the laggards.
Indian imports of Russian crude oil may stabilise or even decline in 2024 from record 2023 levels amid shrinking discounts, lower output, and a rebound in West Asian supplies, according to the ship-tracking data and industry executives. This may impact the billions of dollars in annual savings that India made last year. Imports of Russian oil jumped by a record 140 per cent in calendar 2023 to 1.79 million barrels a day (b/d) from 740,400 b/d in 2022, when Russia marched into Ukraine in February, and from just 102,000 b/d in 2021, according to the data from Paris-based market intelligence agency Kpler.
In the short term the markets look to remain volatile. They could consolidate beyond the April results season, says market expert Pranav Sanghavi.
