While analysts remains overweight on financials, property, discretionary, industrials and materials, they maintain a neutral stance on pharma, telecom and energy; and underweight on staples, utilities, and IT services.
The breadth, indicating the overall health of the market, was slightly positive
Just as very high oil prices looked an anomaly in a sluggish world, so now do record high equities.
Bank shares were the top gainers led by ICICI Bank.
Investors booked profits in range-bound trade, led by PSU, oil & gas, energy, infrastructure, telecom, realty, healthcare, bankex, FMCG, capital goods and power counters.
Financials were among the top losers along with Sun Pharma and index heavyweight Reliance Industries
The S&P BSE Sensex dropped 1 points to end at 26,396 and the Nifty50 slipped 2 points to end at 8,109.
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
The FPI holding in India's top 100 companies, which are part of the Nifty 100 index, declined to 24.23 per cent on average at the end of March this year, from a high of 27.5 per cent at the end of March 2021. This is the lowest FPI holdings in India's top listed companies in at least three years. A general sell-off by FPIs has weighed on stock prices and the benchmark S&P BSE Sensex is down 8.5 per cent, from its 52-week high made in October 2021. Most analysts expect FPI flows to remain weak in FY23 as well, given rising bond yields in the US and an expected earnings slowdown in India due to high inflation and commodity prices.
S&P upgraded India's credit outlook to 'stable' from 'negative' earlier.
Omkeshwar Singh, Head, Rank MF, a mutual fund investment platform, answers your queries.
Broader markets outperformed benchmark indices with BSE Midcap and BSE Smallcap up 0.5% and 0.6%.
Markets finished lower for the sixth consecutive day as hopes of the Goods and Services tax (GST) bill being passed in the current session of the Parliament faded considerably.
Financials were the top losers while oil shares also declined amid weak crude oil prices.
SBI was the top gainer after it reported lower-than-expected rise in bad loans
The fuel reforms are a very important signal of the government's commitment to tough economic reforms.
Major global indices like CAC 40, DAX Shanghai Composite, Hang Seng, Nikkei, Straits Times, Sensex, Nifty have lost 1% - 10% in a week
Capital goods, IT, auto and pharmaceuticals lead gains for the financial year
HDFC, ONGC, Maruti Suzuki, HeroMoto Corp and Bajaj Auto gained the most on BSE Sensex
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
Swati Kulkarni, executive vice-president and fund manager - equities at UTI Mutual Fund tells Puneet Wadhwa that though mid-and small-cap companies are trading at a higher valuation as compared to large-cap peers, one can still find value in select pockets.
Construction major L&T was the biggest gainer among the Sensex components, spurting 2.30 per cent, after the company said its board has approved a Rs 9,000-crore share buyback plan.
Bajaj Auto was the top gainer in the Sensex pack, surging 3.95 per cent followed by Maruti Suzuki at 2.69 per cent.
The winter session of Parliament will commence on November 26.
At 11:37 am, the S&P BSE Sensex was up 28 points at 27,037 and the Nifty50 was up 2 points at 8,268
In the broader markets, the BSE Midcap and Smallcap indices were up 0.5% each
Investors turn their attention to export-driven sectors.
Oil tanked to a 7-year low as OPEC decided to maintain production.
Next set of Q4 FY16 earnings, progress of monsoon along with election poll outcome will dictate market trend this week
'...and defensive until the global macro headwinds turn more benign.'
Growth in the eight core sectors jumped to 8.5% in April, due to a sharp pick-up in refinery products and a commensurate rise in electricity generation.
While most analysts remain positive on TCS and Infosys, they are cautious on Wipro.
Telecom stocks fell after Mukesh Ambani extended Reliance Jio's free offers till March 2017.
Textile and telecom shares have gained ahead of the Cabinet meet later today which is likely to announce new measures for both the sectors.
The Sensex has hit its lowest level since August 29, 2016 whereas the Nifty hit its lowest level since Sep 12, 2016
Participants are eagerly waiting for the key macrodata -- IIP and CPI numbers due to be released later today.
Rebound in IT majors TCS and Infosys in late trades helped markets end higher.
Auto stocks are weighing on the indices.
