Top losers include ONGC, SBI, PowerGrid, L&T, Yes Bank, Asian Paints, Bajaj Finance, Maruti and NTPC, falling up to 2.84 per cent. On the other hand, gainers include Tata Motors, TCS, HDFC, HCL Tech, Infosys, ITC, HDFC Bank and HUL, rising up to 2.18 per cent.
At present, it is trading at around $1,004 an ounce in the international market, about $150 cheaper than gold
Mahindra and Mahindra was the top gainer in the Sensex pack, surging over 16 per cent, followed by Maruti, Titan, Bajaj Finance, HDFC, Bajaj Auto and Hero MotoCorp. On the other hand, HUL, Tech Mahindra, IndusInd Bank and Nestle were the laggards.
The NSE 50-share Nifty also closed higher by 61.60 points, or 0.59 per cent, at 10,504.80 after shuttling between 10,513 and 10,441.45.
Through the past 18-month period, peace has prevailed in the disputed border regions, which was immensely helpful in the difficult situation that the country was passing through, observes Ambassador M K Bhadrakumar.
'When fund managers talk of being bullish for the long term, they assume strong economic growth.' 'That is what they have assumed every year, naively believing the pronouncements and promises of ministers.' 'Unfortunately, they have been wrong year after year,' observes Debashis Basu, editor, www.moneylife.in.
The biggest spender was Tata Motors, with Rs 4,224.6 crore assigned under the R&D head.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
SBI was the top gainer in the Sensex pack, rallying over 10 per cent, followed by Kotak Bank, Dr Reddy's, UltraTech Cement, ITC and HDFC Bank. On the other hand, Axis Bank, Bharti Airtel, ICICI Bank, Maruti and HCL Tech were among the laggards.
Oil & gas, banking and pharma sector stocks stole the show
The 30-share Sensex ended 50 points lower at 28,112 and the 50-share Nifty declined 12 points to close at 8,531.
'Whoever owns the best chip industry will be the Saudi Arabia of the era of data,' predicts Rajeev Srinivasan.
'Stick to the known quality names, avoid short term thinking and don't be in a hurry to book profits on your winners.'
The positive bias was aided by metal, realty and auto indices
Equity benchmark Sensex tumbled 674 points on Friday, weighed by losses in banking stocks as an unabated spike in new coronavirus cases fuelled uncertainty over the economic impact of the pandemic. After hitting a low of 27,500.79 during the day, the 30-share BSE barometer ended 674.36 points or 2.39 per cent lower at 27,590.95. The NSE Nifty shed 170 points, or 2.06 per cent, to finish at 8,083.80.
At the BSE, 1,879 companies declined, while 685 advanced and 131 remained unchanged.
The indices closed with losses for the week, with the Sensex declining 476.14 points, and the broader NSE Nifty falling 155.45 points during the period.
The use of RBI capital to strengthen public sector banks will have many positive implications for the economy -- and a few manageable downsides, points out R Jagannathan.
These firms owe Rs 13 trillion to lenders and account for 55% of all non-financial corporate debt.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
Metal stocks lose ground with Hindalco, Tata Steel, Sesa Sterlite down 4-10%.
The IPL uses this system for players' auction.
A more effective promotion of domestic manufacturing and mining could significantly reduce the trade deficit in key sectors, says T N Ninan.
11 top defensive stocks in the information technology (IT), pharmaceutical and fast moving consumer goods (FMCG) sectors made a new all-time high, while cyclical stocks saw a sell-off.
Production grew by a mere 0.5 per cent year-on-year, a significant comedown from the 3.5 per cent clocked in June.
With India being the largest beneficiary of the GSP, it has been hit the most by the latest decision of the Trump administration
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
Together, the top 10 business groups reported a pre-tax loss of Rs 19,342 crore during the January-March 2020 quarter, as against a profit before tax of around Rs 48,500 crore in the year-ago period and Rs 39,600 crore during the December quarter. While Vedanta was the worst hit. others included Aditya Birla, Bharti, Adani, Mahindra, and Tata.
NTPC was the top gainer, spurting 4.28 per cent. Other winners were Bajaj Auto, Bajaj Finance, Sun Pharma, ITC, Hero MotoCorp, TCS, Yes Bank, HDFC, HDFC Bank and SBI, rising up to 1.38 per cent.
Top losers in the Sensex pack included TCS, Yes Bank, ITC, Sun Pharma, Reliance, Coal India, Asian Paints, SBI, Maruti, HUL, HCL Tech and ICICI Bank, falling up to 2.91 per cent.
The broader NSE Nifty cracked below the key 10,400-mark to touch a low of 10,336.30, before finally ending 15.95 points, or 0.15 per cent, down at 10,410.90.
The study, 'Trade and trade diversion effects of United States tariffs on China', shows that the ongoing US-China trade war has resulted in a sharp decline in bilateral trade, higher prices for consumers and trade diversion effects -- increased imports from countries not directly involved in the trade war.
The Nikkei India Manufacturing Purchasing Managers Index (PMI), fell from 52.1 in February to a five-month low of 51.0 in March, indicating the slowest improvement in operating conditions recorded by the survey since last October.
Large and small businesses alike have delivered low-key performances.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
'It's hard to call whether the Indian markets will go through a time or price correction.' 'There could be a swift 5 to 10 per cent fall in the market in the next two months or there could be a gradual fall and six months sideway movement.' 'Eventually, I think there will be a bit of both.'
The broader NSE Nifty gained 22 points to 10,480.60
Work is underway in identifying global companies in sectors ranging from electronics, auto components and medical equipment to shift part of their existing or incremental manufacturing to India.
India's major import items from UAE include petroleum and petroleum products, precious metals, stones, gems, jewellery, minerals and chemicals
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