Metal stocks fell on Tuesday, with the S&P BSE metal index sliding 2.8 per cent compared to the 0.64 per cent fall in the benchmark S&P BSE Sensex
The finance ministry on Tuesday cited "green shoots" of recovery in agriculture, manufacturing and services sectors, and said the prompt policy measures taken by the government and RBI have helped reinvigorate the economy with minimal damage. Stating that the agricultural sector remains the foundation of the Indian economy, the ministry said that a normal monsoon, as has been forecast, should support the rebooting of economy.
Sensex lost 184 points to trade at 23,878 and the Nifty has dropped 55 points to quote at 7,254.
Just as very high oil prices looked an anomaly in a sluggish world, so now do record high equities.
Index heavyweights continue to be top losers with ICICI bank.
After turning net buyers for the fifth straight month till June, foreign portfolio investors (FPIs) withdrew a net of Rs 11,743 crore ($1.7 billion) in July. This was their highest outflow since October 2018.
FMCG stocks have underperformed the market, falling 2.2 per cent so far in 2014.
The Indian rupee on Monday reacted downwards by 12 paise to log nearly one-week closing low of 63.41 against the Greenback.
Dollar sales by exporters and firm local equities also supported the local currency.
The BSE Mid-Cap index was currently up 0.83%. The BSE Small-Cap index was currently up 0.8%.
UBS, Credit Suisse see emerging markets doing well next year, but expect India to underperform, given its rich valuations.
Markets ended in red; index heavyweight under pressure.
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.
Citing the impact of the second wave of the pandemic over the economy and consumer sentiment, Swiss brokerage Credit Suisse has lowered its nominal GDP growth forecast by 150-300 bps to 13-14 per cent, but expects a stronger recovery in the second half as it sees the lockdowns having limited impact on tax collections. Last month, Neelkanth Mishra, the co-head of equity strategy for Credit Suisse Asia Pacific, and India equity strategist, had told PTI that he expected the real GDP to fall to 8.5-9 per cent in FY22 due to the more severe pandemic attack. The virus case load has crossed the 25-million mark, death toll from the same is nearing 2.9 lakh mark, which is one of the highest in the world as the test positivity rate has been around 15 per cent for long.
In the metal pack, Tata Steel was up 3.7% while Vedanta was up 1.8% .
A dossier will be given to the FATF, an international terror financing watchdog.
The S&P BSE Sensex surged 217 points to end at 25,736.
Better-than-expected financial results in Q3 due to higher revenue growth and margins in key markets fuel the rally
The rupee fell sharply by 32 paise at 66.37 against the US dollar in early trade on Tuesday.
It is the fundamentals of companies that will drive stock performance.
Most respondents understand inflation, but very few understand risk diversification, says the ratings agency in its Global Financial Literacy Survey
Moody's Investors Service on Friday projected India's growth at zero per cent for the current fiscal and said the negative outlook on sovereign rating reflects increasing risks that GDP growth will remain significantly lower than in the past. The outlook also partly shows weaker policy effectiveness to address economic and institutional issues, it noted in the update to its November 2019 rating forecast.
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.
In first half of year, firms raise more than banks on low US treasury rates.
HSBC maintained "overweight" rating on Indian equities, saying "fundamentals are strong".
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
The rupee recovered by 11 paise to trade at 60.84 against the US dollar in early trade today on selling of the American currency by banks and exporters.
If Pakistan continues with the 'Grey List' or put in 'Dark Grey' list, it would be very difficult for the country to get financial aid from the IMF, the World Bank and the European Union, making its financial condition more precarious.
Rise in crude oil price and rally in global equities aided the sentiment
The market breadth, indicating the overall health of the market, was positive
'I have very little faith in economists who tell me that demonetisation will reduce growth.' 'The greater effect of demonetisation is if it creates changes in the financial services system and gets people to shift from cash.' 'The economy is not a trained monkey that will jump around if you lower rates.'
Broader markets outperformed with BSE Midcap and BSE Smallcap adding 0.23% and 0.45%, respectively
Are we seeing a replay of March 2000? What are the similarities and differences and how worried should we be, asks Akash Prakash.
An analysis of past 20 years' demand cycles done by Edelweiss Securities indicates that the auto sector is currently in the middle of a down cycle. Volume recovery, they say, is unlikely to be as sharp as in the past, unless there is strong fiscal support.
Indian economy is doing well and the performance of domestic stock markets is not as bad as that of other nations.
Pakistan has been scrambling in recent months to avoid being added to a list of countries deemed non-compliant with anti-money laundering and terrorist financing regulations.
IT majors weakened ahead of the September US jobs data and telecom stocks ended lower
Investors not stop their SIPs or STPs due to election-related uncertainty.
The 30-share S&P BSE Sensex ended up 130 points at 25,400 and the Nifty50 rose 46 points to close at 7,759.
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