'My sense is that we should be braced for a correction.' 'It has already begun in the mid-caps for the past month, and will now spread to larger stocks as well.' 'Use the correction to upgrade the quality of your portfolio,' advises Akash Prakash.
Worries over Greece sparked a sell-off in emerging markets on Monday
From the 30-share Sensex pack, 23 scrips declined in Wednesday's session, led by IndusInd Bank, Bajaj Finance, Tata Motors and Tata Steel which fell by up to 3.87 per cent.
In the new decade, the scene will change because the banks till recently had been challenged by the fintechs, but the techfins have now entered the arena, observes Tamal Bandyopadhyay.
The Sensex was mainly dragged by Tata Motors, ICICI Bank, Bharti Airtel and Reliance Industries -- shedding as much as 4.60 per cent.
In the Sensex pack, Yes Bank, Tata Motors, Bajaj Finance, Tata Steel, HDFC twins, IndusInd Bank, RIL, Asian Paints, Hero MotoCorp, Axis Bank, M&M, HUL, Bajaj Auto, NTPC, HCL Tech, Kotak Bank and Infosys fell up to 5.30 per cent.
The S&P BSE Sensex plunged 461 points to end at 25,603.
Economies the world over are facing different sets of challenges.
Sectorally, bankex suffered the most by dropping 2.62 per cent, followed by finance 2.44 per cent and realty 1.63 per cent. On the other hand, telecom was among the top sectoral gainers, rising 4.60 per cent. IT index rose 2.62 per cent.
The broader Nifty, after struggling, also managed to end above the 10,200-level.
The RBI on Friday said it will give banks Rs 1 trillion through targeted long-term repo operations (TLTROs), of up to three-year maturity, to deploy in "investment-grade corporate bonds, commercial paper, and non-convertible debentures over and above the outstanding level of their investments in these bonds as of March 27, 2020."
The 30-share Sensex ended down 249 points or 0.94% at 26,304 levels.
Blue-chips like Reliance Industries, TCS, Tata Steel and Infosys plunged into deep red on stock market on Friday, as investors dumped stocks with significant export exposure after an overnight sell-off in the US market.
In the last nine sessions, the Sensex had lost 1,940.73 points and the Nifty has given away nearly 600 points.
The flows may stem and redemptions pressure increase following the market meltdown of Monday amid mounting cases of coronavirus infection globally.
ONGC was the top loser in the Sensex pack, cracking over 16 per cent, followed by Reliance Industries, IndusInd Bank, Tata Steel, TCS, SBI, ICICI Bank and Bajaj Auto.
Developing more sources of supplies to guard against disruptions may emerge as the next big trend. But that may not necessarily mean flow of more investments into India, unless investors are assured, besides important economic factors and impartiality of institutions, that social disharmony will not cause unexpected disruptions.
Morgan Stanley removed banking stocks from its model portfolio when it slashed its weighting on the sector by 500 basis points. Several foreign brokerages, such as UBS, JP Morgan, and Credit Suisse, of late, have also become less optimistic about banking stocks.
Share markets will have only three trading days this week with Monday and Wednesday being holidays due to general elections in Mumbai and Maharashtra Day, respectively.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
The broader NSE Nifty climbed 61.60 points, or 0.58 per cent, to close at 10,772.05.
Gaurav Garg, Head of Research, CapitalVia answers readers' stock market queries
Over 25 per cent of the net flows have been directed toward the large-cap category as investors preferred to put money in the top 100 stocks by market capitalisation because the segment has been the most resilient over the past year.
The plan was to sell off non-profitable businesses apart from focusing on four verticals: real estate, defence, financial services and retail
The decision will embolden populists across the continent.
The trick is to know how long you are supposed to hold which document, observes Bindisha Sarang.
Investor wealth on Wednesday diminished by Rs 1.84 lakh crore amid massive sell-off in the equity market.
A rally in Reliance Industries and Kotak Bank helped the index recover some of the losses
The broader 50-issue NSE Nifty edged up just 0.10 points to close at 10,806.60
The 50-share NSE Nifty also cracked the 10,600-level by falling 259 points, or 2.39 per cent, to close at 10,599.25 after hitting a low of 10,547.25.
'India is possibly the most fiscally constrained market in the region.'
To sell off L&T IDPL, Nabha Power; transfer Hyderabad Metro to an InvIT.
Overall, in the last five straight sessions, the index has lost nearly 1,129 points.
Investors started booking profit at record highs in absence of cues from global markets that remained closed for the New Year holiday.
Top losers in the Sensex pack included M&M, SBI, Yes Bank, Asian Paints, HDFC, Tata Steel and L&T, shedding up to 2.55 per cent. The broader NSE Nifty settled 79.80 points, or 0.72 per cent, down at 10,996.10.
The 50-share NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.
Equity markets in Pakistan and Bangladesh are tiny compared to the market capitalisation of the Indian equity market.
Though Kishore Biyani is selling stakes in group companies to pay off debt, a significant share price crash since January this year is making his task difficult.
The broader NSE Nifty after shuttling between 10,451.90 and 10,595.75 finally ended 100.30 points, or 0.96 per cent, higher at 10,582.50.
Sentiments took a hit after broader Asian markets weakened, following a renewed sell-off on Wall Street on Tuesday as energy shares dropped after crude oil prices plunged to a 13-month low amid weak earnings and US-China trade disputes, fuelling worries about economic growth
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