Since most Indian firms have kept their forex exposure unhedged, credit profile of companies in the highly sensitive sectors such as oil & gas, metal & mining, airlines could weaken substantially, says Anup Roy.
In the imports bracket, India was the United States' 11th largest supplier of goods in 2017
The NSE 50-share after moving between 10,309.85 and 10,261.50 on alternate bouts of selling and buying, finished at 10,298.75, with paltry gains of 15.15 points, or 0.15 per cent.
The BSE metal index tops the sectoral gainers list with an appreciation of 233 per cent.
Billionaire Mukesh Ambani's Reliance Industries has signed a pact to invest an undisclosed amount in a giant petrochemical hub being built in the UAE. The oil-to-telecom conglomerate will join the recently-formed Ta'ziz joint venture of Abu Dhabi state energy giant Adnoc and state holding company ADQ for developing the Ruwais Derivatives Park in western Abu Dhabi. A company statement said an agreement has been signed for Reliance to invest in the project but did not give details. Unconfirmed reports put the investment at about $1.5 billion.
Both banks and jewelers sell coins and bars, but it is generally costlier to buy it from a bank
Yes Bank was the top gainer in the Sensex pack, rallying up to 8.44 per cent, followed by Maruti, PowerGrid, NTPC, L&T and SBI.
The Sensex took just five trading sessions to surpass the 36,000-level milestone, from 35,000.
'This market is very expensive in some pockets, dirt cheap in some, and the belly of the market is reasonably valued.'
With the government looking to divest loss-making steel assets, significant interest from secondary players is most likely this time apart from the anticipated list of large integrated primary steel producers, said industry experts. Rashtriya Ispat Nigam Limited (RINL), Neelachal Ispat Nigam Ltd (NINL), NMDC Integrated Steel Plant (NISP)-Nagarnar, Ferro Scrap Nigam Ltd and three units of Steel Authority of India (SAIL) - Alloy Steels Plant, Durgapur; Visvesvaraya Iron and Steel Plant, Bhadravati; and Salem Steel Plant, Salem - constitute the divestment list. All the three units of SAIL have been loss-making for more than five years.
Bankers said India's structural story from medium to long term was intact and they were optimistic about the future.
Dr Reddy's was the top gainer in the Sensex pack, rising over 3 per cent, followed by PowerGrid, TCS, HCL Tech, Infosys and Reliance Industries. On the other hand, L&T, IndusInd Bank, Bajaj Finserv and Bharti Airtel were among the laggards.
the broader NSE Nifty settled 114.90 points, or 0.96 per cent, higher at 12,086.70. Axis Bank was the top gainer in the Sensex pack, rallying 4.21 per cent, followed by Vedanta 3.75 per cent, SBI 3.39 per cent, Maruti 3.20 per cent, IndusInd Bank 3.07 per cent and Yes Bank 2.87 per cent. Bharti Airtel slipped 1.98 per cent, Kotak Bank 1.38 per cent, Bajaj Auto 0.88 per cent, Asian Paints 0.31 per cent, HDFC Bank 0.05 per cent and HUL 0.03 per cent.
Siemens is a leading global firm offering technological and modernisation programmes to metallurgical industry like steel.
Rogue lending under political influence was rife in the Congress-led regime and is not happening in the Modi regime, certainly not on that scale. But if PSBs cannot lend as indiscriminately as they did last time in the name of 'credit expansion', how well will these banks do, asks Debashis Basu.
Credit growth in the industrial sector has slowed down due to sluggish economic growth.
Spiralling prices pinched the pocket of consumer as edible oil, fuel and many other commodities turned dearer this year amid pandemic-induced disruptions but the inflationary pressure is anticipated to ease, though marginally, in the coming months. As consumers, at retail as well as wholesale levels, are willy-nilly learning to live with the new normal of curbs to contain the spread of coronavirus infections, experts are of the view that elevated inflation is likely to stay longer. After dealing with the devastating blows from the second COVID wave, especially during the April-June period, the economy is well on the revival path but the emergence of Omicron might unsettle the recovery trajectory in the short term.
The broader Nifty slumped 47 points, or 0.45 per cent, to close at 10,303.15
The market rally was driven by strong buying in telecom, banking, realty, metal, FMCG and PSU counters.
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Q1 results indicate more pain ahead, as slowdown has spread to more sectors, pricing power has come down and rising interest cost is eating into profits.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
Tata Steel was the top loser in the Sensex pack, sinking over 5 per cent, followed by SBI, IndusInd Bank, Bajaj Finance, HDFC Bank and NTPC. NSE Nifty tanked 371 points to 16,614.20.
Bharti Airtel, Bajaj Finance, Bajaj Auto, Reliance Industries, Tata Motors, SBI, HUL, NTPC, ONGC, ITC and Asian Paints rose up to 2.19 per cent.
BSE Midcap and BSE Smallcap indices settled the day 0.7% and 0.9% higher
"Among Indian companies, the total value of investment projects being negotiated exceeds R16-billion ($2.5 billion) and covers the metals and automotive sectors," Belu Mabandla, development manager of the Coega Development Corporation, said in a statement.
The companies that have seen sharp erosion of market wealth include YES Bank, Indiabulls Housing Finance, Zee Entertainment, Vodafone Idea, and Bharat Heavy Electricals.
Women and children have been given short shrift with these crucial sectors facing substantive budgetary cuts, discovers Rashme Sehgal.
If the earnings in the first quarter of the current financial year are an indication, most banks, particularly those majority-owned by the government, have fared well, reveals Tamal Bandyopadhyay.
India Inc's quarterly net profit reached a record high of Rs 1.64 trillion in the third quarter ended December 31, 2020, mainly due to gains from higher commodity prices and a big swing in banks' earnings. The combined net profit of 3,323 listed companies that have declared results so far was up 68.6 per cent year-on-year (YoY). In comparison, earnings were up six times (534 per cent) in the second quarter and 6.5 per cent in the corresponding period last year.
The broader NSE Nifty fell 78.75 points, or 0.70 per cent, to close at 11,234.55.
If not contained quickly, it will have a knock-on effect in the world economy and disrupt global supply chains, Crisil analysts warned.
At present, it is trading at around $1,004 an ounce in the international market, about $150 cheaper than gold
The markets are showing no signs of stability as the economic impact of the coronavirus outbreak is likely to be significant for many major economies.
Corporate revenues will decline for a third consecutive quarter in March on a YoY basis - one of the worst shows by these companies in many years.
The government is drawing up a relief package for industry with steps such as relaxation of asset-classification norms by banks, thus allowing companies to delay the repayment of loans, and tax holidays for the worst-hit sectors like aviation and hospitality. But it might not be enough to stop more bankruptcies from getting filed.
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.
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.
'They can shift to dynamic asset allocation funds to automatically rebalance their equity exposure.'
Combined net profit of BSE500 companies at $ 63 bn is 2.3% of GDP; global average is 5%.
One thing has remained constant through the Indian economy in the last seven decades: the dominance of family-owned businesses. Krishna Kant reports.
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