Tag: dalal street

Traders on Dalal Street continued to shrug off rapidly rising Covid-19 cases and increasing curbs by buying power and financials stocks and sent benchmark indices soaring for the third straight day today(4th Jan.2020). Mumbai has said it will enforce lockdown if daily virus cases jump above 20,000 while Delhi is going for a weekend curfew. Other states are also enforcing curbs that will likely impact consumer-focused companies. The 30-share pack Senex advanced 672.71 points or 1.14 percent to close at 59,855.93. Its broader peer NSE Nifty rose 179.55 points or 1.02 percent to 17,805.25. Thanks to the rally, equity investors grew their wealth by Rs 1.87 lakh crore as the BSE market cap climbed to Rs 271.13 lakh crore. In the past three sessions' market rally, investors' wealth ballooned by Rs 7.75 lakh crore.

On Dalal street Bulls reigned in early deals this Monday (13th December 2021), mainly due to firm global equities and bargain buying in metal and PSU bank stocks. The S&P BSE Sensex zoomed 326 points, or 0.52 percent, to quote at 59,113 levels. The Nifty50, meanwhile, rallied above the 17,600-mark, up 100 points. This was Nifty's highest level since November 21. Barring Bajaj Finance, all other Sensex stocks were trading with a bullish bias. Power Grid (up 3 percent), Axis Bank, NTPC, ICICI Bank, Sun Pharma, and Asian Paints were the outperforming stocks on the index. In the broader markets, the BSE MidCap and SmallCap indices added 0.66 percent and 0.94 percent, respectively. Individually, shares of PB Fintech (Policybazaar) were down 2 percent as its anchor lock-in period ended today. Read more

A volatile trade was witnessed on Dalal street (today(7th September 2021) as bulls and bears were caught in a fierce battle. Investors looked to lock in gains after a recent rally and a subdued global market mood but most dips were bought into, which left indices unchanged at close. The BSE Sensex lost only 17 points to end at 58,280. Meanwhile, NSE Nifty closed at 17,356, down 21 points. Both indices snapped their three-day winning streaks but did manage to hit new highs in intra-day deals (Sensex at 58,553 and Nifty at 17,437). In the 30-pack Sensex, 12 stocks ended in the green and 18 in the red. Bharti Airtel, HDFC, IndusInd Bank, and ITC, up between 1-3 percent, were the top gainers. Tech Mahindra, Sun Pharma, Axis Bank, and HCL Tech on the other hand were the worst losers. Read more

Due to concerns about the impact of elevated inflation and Covid-19 outbreaks on economic prospects weighs on sentiment, Dalal Street clocked a gap-down start today(19th July 2021). The benchmark S&P BSE Sensex declined 360 points in early deals to trade at 52,781 levels while the Nifty50 started with a 100-pts cut at 15,823. The BSE MidCap and SmallCap indices slipped 0.4 percent and 0.3 percent in the broader market, respectively. All the key sectoral indices were in the red. The Nifty Bank index was the top loser, down 1.5 percent. Twenty-five companies including ACC, HCL Technologies, HDFC Life, Indian Bank, and Mastek are slated to post their June quarter numbers today. Read more

Indian benchmark indices put an end to a four-day winning run today(30th April 2021) as a worsening pandemic and shortage of vaccines in the country spooked Dalal Street bulls. Investors dumped whatever was in their hands on fears that a recovery could now be delayed. In the freefall, investors' wealth came down by Rs 2.02 lakh crore as the total market capitalisation of BSE-listed companies plunged to Rs 207.01 lakh crore. For Dalal Street investors bears came roaring amid weakness in Asian markets and an unabated rise in Covid-19 cases along with hiccups in vaccination drive back home. Profit booking too weighed on markets following four straight sessions of gains that led to a 4 percent rally in the benchmark indices this week. Read more

Buying in consumer-focused and energy stocks today(30th March 2021) lifted benchmark indices in spite of the continued threat of increasing Covid-19 cases and rising bond yields put pressure on investors. Indian markets also appear to be unscathed from a hedge fund blowup in the US. A sharp decline in FII selling coupled with large buying by DIIs can support the market and even take it higher, said an analyst. The major factors for the rally in the markets are: 1. Fed remains dovish: The Federal Reserve is "a long way from raising interest rates at this point", Governor Christopher Waller said on Monday, reinforcing hopes that the central bank is ready to remain dovish as long as virus woes linger. 2. Factory activity in China: China's factory activity was expected to have grown at a faster pace in March, a Reuters poll showed. Read more

The feeling that the domestic equity market has embarked on a fresh bull run may not for real! Most of the experts on Dalal Street are not expecting Nifty50 to move past the 11,000 marks in 2020. More analysts are betting on a drift in the NSE barometer towards the 9,000 marks, suggests a survey that ETMarkets.com conducted among a dozen brokerages. They generally see a lot of challenges for the equity market in the second half of the calendar. A year-end Nifty target of 11,000 would mean a 7 percent upside over yesterday's close of 10,293, but 10 percent negative returns for the calendar over the December 31, 2019 close of 12,186. The lowest year-end target of 9,000 would require the market to shave off 26 percent from Nifty for the year, or 14 percent from its current level. Read more