Tag: flat

MARKET UPDATE: Sensex nearly flat at 61,900, while NSE Nifty50 up marginally at 18,330

MARKET UPDATE: Sensex nearly flat at 61,900, while NSE Nifty50 up marginally at 18,330
Thursday, May 11, 2023
STOCK MARKET UPDATE: Ease in US inflation lifted benchmark indices at open today(11 May 2023), but they were soon pulled down by losses in Dr Reddy's and L&T, which dropped 5 percent and 4 percent, respectively, on missing Street estimates for Q4FY23. The BSE Sensex pared gains to turn nearly flat at 61,900, and the Nifty was up marginally at 18,330. The broader markets outperformed the benchmarks. The BSE MidCap and SmallCap indices rose to 0.5 percent versus 0.1 percent in BSE Sensex. Hindalco, Bharti Airtel, and Eicher Motors were the other frontline losers, down 1-3 percent. On the downside, Tech M, Infosys, HDFC, and HCL Tech led gains on the Sensex, while Adani Enterprises claimed the top spot on Nifty, rising 4 percent on its plan to consider fundraising at a board meeting on May 13. Sectorwise, the Nifty IT index rose the most, up 0.6 percent, while the Pharma pocket was the top drag that dropped 1 percent.

MARKET UPDATE: Sensex traded flat at 60,188 levels, whereas Nifty50 hovered flat above 17,700 levels

MARKET UPDATE: Sensex traded flat at 60,188 levels, whereas Nifty50 hovered flat above 17,700 levels
Wednesday, April 12, 2023
Opening Bell: Indian markets opened flat in today's (12 April 2023) trading session, ahead of March inflation figures. Key indices Nifty50 hovered above 17,700 levels, whereas the S&P BSE Sensex traded flat at 60,188 levels. Broader indices, which include Nifty Midcap 100 and Nifty Smallcap 100 indices, however, outperformed benchmark indices as they gained up to 0.2 percent each. Sectorwise, Nifty Metal, and Nifty Pharma indices led the charge, surging up to 1 percent. On the flipside, Nifty IT, and Nifty FMCG indices lost up to 0.3 percent. Among individual stocks, shares of Tata Consultancy Services (TCS) traded flat ahead of Q4FY23 results. Brokerages estimate the company to report weak revenue growth over the preceding quarter due to seasonal weakness, however, they foresee margin expansion on lower attrition. In addition, shares of Sula Vineyards soared over 6 percent after the wine producer crossed 1 million cases.

Closing Bell: Sensex ends flat amid volatility, Nifty at 17624.05

Closing Bell: Sensex ends flat amid volatility, Nifty at 17624.05
Monday, April 10, 2023
At close, the Sensex was up 13.54 points or 0.02 percent 59,846.51, and the Nifty was up 24.80 points or 0.14 percent 17,624. Benchmark indices erased gains in the last hour of trading as profit booking in financial and FMCG stocks weighed on the bourses. Bajaj Finance, Asian Paints, IndusInd Bank, ICICI Bank, Nestle India, HUL, Reliance Industries, HDFC Bank, Axis Bank, and SBI were the top laggards on the Sensex index, down up to 1.76 percent. About 1,965 shares advanced, 1,568 shares declined, and 146 shares were unchanged. Sectorally, the Nifty Private, PSU Bank, and FMCF indices fell to 0.6 percent. On the flipside, the Nifty Realty index jumped over 4 percent, rallying over 7 percent in two days. The BSE midcap and smallcap indices ended with marginal gains.

MARKET UPDATE: Sensex surged over 500 points to trade around 58,409 levels while Nifty50 advanced over 150 points to trade above 17,150 levels

MARKET UPDATE: Sensex surged over 500 points to trade around 58,409 levels while Nifty50 advanced over 150 points to trade above 17,150 levels
Wednesday, March 15, 2023
Opening Bell: The Indian markets edged higher in today's(15 March 2023) trade to snap a four-day losing streak, after February inflation slowed to 6.4 percent. Key indices Nifty50 advanced over 150 points to trade above 17,150 levels, whereas the S&P BSE Sensex surged over 500 points to trade around 58,409 levels. Broader markets, too, inched higher in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices gained up to 1 percent. The volatility index, India VIX, meanwhile, slipped over 6 percent. Read more

MARKET UPDATE: Sensex dropped over 150 points to trade around 60,865 levels while the Nifty50 declined over 40 points to trade below 17,900

MARKET UPDATE: Sensex dropped over 150 points to trade around 60,865 levels while the Nifty50 declined over 40 points to trade below 17,900
Wednesday, February 15, 2023
Opening Bell: Indian equity markets started today's( 15 February 2023) trade on a weaker note, as hotter-than-expected US inflation data stoked rate hike concerns. Key indices Nifty50 declined over 40 points to trade 17,900 below, whereas the S&P BSE Sensex dropped over 150 points to trade around 60,865 levels. Broader markets, too, edged lower as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.5 percent. Read more

Closing Bell: Sensex, Nifty end flat amid volatile

Closing Bell: Sensex, Nifty end flat amid volatile
Tuesday, January 24, 2023
At Close, the Sensex was up 37.08 points or 0.06% at 60,978.75, and the Nifty was down 0.20 points or 0.00% at 18,118.30, despite strong global sentiments, and healthy early Q3 results. The top gainers of Nifty were Tata Motors, Maruti Suzuki, Bajaj Auto, Britannia, and HCL Tech while the top losers were Axis Bank, Hindalco, Dr Reddy, Power Grid, and SBI Life. About 1485 shares have advanced, 1930 shares declined, and 132 shares are unchanged. Sectorally, the Nifty Auto index was the best sectoral performer as it gained 1.2 percent. Nifty PSU Bank and Nifty Realty indices, on the contrary, was the worst sectoral performer as they tanked up to 1.3 per cent. Broader markets, too, turned tepid as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.3 per cent. The volatility gauge, India VIX, gained marginally to 0.2 percent.

MARKET UPDATE: Sensex fell 47 points to 61,748, while Nifty unchanged at 18,344

MARKET UPDATE: Sensex fell 47 points to 61,748, while Nifty unchanged at 18,344
Monday, November 14, 2022
Opening Bell: Indian Equity markets opened flat today(14 November 2022) as investors await retail and wholesale inflation readings for October. The BSE Sensex fell 47 points to 61,748, while the NSE Nifty was nearly unchanged at 18,344. Among the 30-Sensex constituents, Tata Steel, PowerGrid, M&M, Kotak Bank, and IndusInd Bank opened with the most gains (up to 2 percent higher ). While Hindalco, Apollo Hospitals, and JSW Steel were the additional frontrunners on the Nifty index. Dr. Reddy's, SBI, Divis's Labs, Sun Pharma, ITC, and Maruti Suzuki were the top drags across the two frontline indices, up to x percent lower. In the broader market, the BSE midcap and smallcap indices held fractional cuts, down up to 0.3 percent. Read more

Global economy faces four key uncertainties

Global economy faces four key uncertainties
Tuesday, September 20, 2022
The global economy faces mainly four key uncertainties including a downturn next year, according to economic experts in a signal that policymakers will be in firefighting mode for longer. They listed the severity of the downturn, inflation’s trajectory in the medium term, the impact of geopolitics on markets, and climate risk on portfolios as the main risks to the global outlook. Singapore, like many economies worldwide, is grappling with inflation that’s yet to peak and a tight labor market that still is creating headaches for businesses short on workers as they emerge from the pandemic. Medium-term inflation is likely to be higher for longer, rather than recent benign price gains, and the era of cheap money and cheap labor are most likely over, say experts. Read more

Closing Bell: Sensex ends flat at 58803.33, Nifty at 17,539.50

Closing Bell: Sensex ends flat at 58803.33, Nifty at 17,539.50
Friday, September 2, 2022
At Close, the Sensex was up 36.74 points or 0.06% at 58,803.33, and the Nifty was down 3.30 points or 0.02% at 17,539.50, as a lack of domestic and global cues kept investors on the sideline. Shares of Adani Enterprises hit a record high of Rs 3,290 after they gained 2% on the NSE intra-day.BPCL, Shree Cements, Hero MotoCorp, Hindalco Industries, and ONGC were among the major losers on the Nifty, while gainers were HDFC, ITC, Adani Ports, Larsen, and Toubro, and HDFC Bank About 1726 shares have advanced, 1612 shares declined, and 137 shares are unchanged. The BSE MidCap index dipped 0.35 per while the BSE SmallCap index eked out gains of 0.04 percent Among sectors, the Nifty Financial Services, and FMCG indices added 0.5 percent and 0.4 percent, respectively, while the Nifty PSU Bank index fell 0.77 percent..

Closing Bell: Sensex up 130 points, Nifty at 17698.15

Closing Bell: Sensex up 130 points, Nifty at 17698.15
Friday, August 12, 2022
At Close, the Sensex was up 130.18 points or 0.22% at 59,462.78, and the Nifty was up 39.20 points or 0.22% at 17,698.20, as investors awaited India's retail inflation data for July. ONGC, Tata Steel, NTPC, UPL, and Power Grid Corp were among the major Nifty gainers, while Divis Lab, Apollo Hospitals, Infosys, Maruti Suzuki, and Tata Consumer Products were the laggards. About 1771 shares have advanced, 1531 shares declined, and 142 shares are unchanged. Oil & Gas indices rose 2.5% and Metal and Power added 1.5% each. On the other hand, the Pharma index shed 1% and Information Technology (IT) index declined 0.76%.In the broader markets, the BSE MidCap and SmallCap indices closed 0.15 percent and 0.4 percent higher, respectively.

Closing Bell: Sensex down 87 points, Nifty at 16216.00

Closing Bell: Sensex down 87 points, Nifty at 16216.00
Monday, July 11, 2022
At close, the Sensex was down 86.61 points or 0.16% at 54,395.23, and the Nifty was down 4.60 points or 0.03% at 16,216. Stocks of Bharti Airtel, Tata Consultancy Services (TCS), HCL Tech, Infosys, Wipro, HUL, and State Bank of India (SBI) ended up to 5 percent down. On the flip side, Tata Steel was the top BSE Sensex gainer, followed by M&M, Dr Reddy’s, ICICI Bank, Asian Paints, ICICI Bank, Axis Bank, and Reliance Industries, among others. About 2035 shares have advanced, 1297 shares declined, and 155 are unchanged. Sectorally, except for the Nifty IT index, which closed 3 percent lower, all other indices eked out gains. The Nifty PSU Bank index was the top gainer, up 2 percent, and auto, metal, oil & gas, realty, and power indices rose 1-4 percent.BSE midcap and smallcap indices rose 0.5-1 percent.

Closing Bell: Sensex down 111 points, Nifty at 15752.05

Closing Bell: Sensex down 111 points, Nifty at 15752.05
Friday, July 1, 2022
At close, the Sensex was down 111.01 points or 0.21% at 52907.93, and the Nifty was down 28.30 points or 0.18% at 15752. Benchmark indices staged a smart recovery in the dying hours of trade and even turned positive just a few minutes before closing in the red.ONGC, Reliance Industries Power Grid Corporation, Bajaj Auto, and Bharti Airtel were among the top Nifty losers. ITC, Bajaj Finance, Bajaj Finserv, Britannia Industries, and Cipla were among the gainers on the index. About 1708 shares have advanced, 1503 shares declined, and 144 shares are unchanged. In the broader markets, the BSE MidCap and SmallCap indices fell 0.07 percent and 0.46 percent, respectively. Among sectors, the BSE Oil and Gas Index dropped 3.5 percent, and Realty and FMCG indices were up 1-2 percent. Bank Nifty gained 0.34% while India VIX was down 2.7% but still above 21 levels.

Closing Bell: Sensex eends flat down 8.03 points, Nifty at 15780.25

Closing Bell: Sensex eends flat down 8.03 points, Nifty at 15780.25
Thursday, June 30, 2022
At close, the Sensex was down 8.03 points or 0.02% at 53018.94, and the Nifty was down 18.80 points or 0.12% at 15780.30, amid weakness in US stock futures and European markets. Tech Mahindra, IndusInd Bank, Bajaj Finance, Tata Steel, Bajaj Finserv, HCL Tech, M&M, and HDFC were among the top index draggers. On the flip side, Axis Bank, State Bank of India (SBI), Kotak Mahindra Bank, NTPC, ICICI Bank, Reliance Industries Ltd, and L&T were among the top BSE Sensex gainers. About 1336 shares have advanced, 1857 shares declined, and 138 shares are unchanged. The BSE MidCap and SmallCap indices shed 0.5 and 0.7 percent, respectively. Sectorally, Nifty Banks and financials were the sole outperformers, ending around 0.5 percent up. On the flip side, metals led losses closing 2 percent down. Other top drags were auto, IT, realty, and PSBs, which cracked a percent each.

Closing Bell: Sensex ends flat up 16 points, Nifty at 15850.20

Closing Bell: Sensex ends flat up 16 points, Nifty at 15850.20
Tuesday, June 28, 2022
At close, the Sensex was up 16.17 points or 0.03% at 53,177.45, and the Nifty was up 18.20 points or 0.11% at 15,850.20. as the benchmark indices whipsawed wildly in the intra-day trade before ending flat with a positive bias. Mahindra & Mahindra was the top Sensex gainer, up 2.84% on the closing bell. Reliance Industries, Tata Steel, and Dr Reddy’s were other top gainers. Titan was the top laggard, down 3.39%, followed by Asian Paints, and Bajaj Finserv. About 1737 shares have advanced, 1460 shares declined, and 139 are unchanged. The Nifty MidCap added 0.3 percent, but the Nifty SmallCap fell by an equal percentage. Among major sectoral indices, the Nifty Metal index advanced around 2 percent, while the Nifty Private Bank index dropped 0.8 percent.

World Bank cuts India's GDP forecast to 7.5% for FY23

World Bank cuts India's GDP forecast to 7.5% for FY23
Wednesday, June 8, 2022
The World Bank on Tuesday cut India's economic growth forecast for the current fiscal to 7.5% from 8 percent as rising inflation, supply chain disruptions and geopolitical tensions taper recovery. This is the second time that the World Bank has revised its GDP growth forecast for the country in the current fiscal. In April, it had cut the forecast from 8.7 percent to 8 percent and is now at 7.5 percent. "In India, growth is forecast to edge down to 7.5% in the fiscal year 2022/23, with headwinds from rising inflation, supply chain disruptions, and geopolitical tensions offsetting buoyancy in the recovery of services consumption from the pandemic," the World Bank said in its latest issue of the Global Economic Prospects. The World Bank said that growth will be supported by fixed investment undertaken by the private sector and by the government, which has introduced incentives and reforms to improve the business climate. Read more

Gold emerges as the best-performing asset class in 2022

Gold emerges as the best-performing asset class in 2022
Wednesday, February 23, 2022
After underperforming most risk assets last year, Gold has emerged as the best-performing asset class in 2022. The metal was trading at around $1,900 per ounce in the international market yesterday(22nd Feb.2022), up from $1,796 at the end of January. The precious metal made an intra-day high of $1,918 on Tuesday. Currently, gold is trading at its highest level since June 2021. The yellow metal is up nearly 5 percent during February and nearly 4 percent since the beginning of the calendar year as stocks and currencies struggle amidst high inflation and geopolitical tensions between Russia and Ukraine. In comparison, the Dow Jones is down 6.2 percent year-to-date (YTD) in 2022, while the Sensex is down 2 percent YTD in dollar terms and 1.6 percent in local currency. Other major stock indices, such as UK's FTSE100, Germany's DAX, Japan's Nikkei 225, and China’s Shanghai Composite, have also underperformed the yellow metal this year so far. Read more

MARKET UPDATE:Sensex down 657 points at 58,268, while Nifty at 17,410, lower by 195 points

MARKET UPDATE:Sensex down 657 points at 58,268, while Nifty at 17,410, lower by 195 points
Friday, February 11, 2022
Indian benchmark indices started to trade on a highly negative note today (11th February 2022) a day after RBI's dovish policy had calmed the markets in line with the soured global sentiment on high US inflation data and rate hike fears. The BSE Sensex was down 657 points at 58,268, while the NSE Nifty was at 17,410, lower by 195 points. Among the Sensex-30 shares, only NTPC was in the green, while IT majors Infosys, Wipro, HCL Tech and Tech M were the top losers, lower by over 2 percent each. Other losers included Bajaj Twins, HDFC, Dr. Reddy's, Kotak Bank, Titan, TCS, and ICICI Bank. On the Nifty, HeroMoto Corp, Cipla, and Eicher Motors were the additional top losers, down up to 1.6 percent. In the broader markets, the BSE MidCap and SmallCap indices were also in the red territory, down 0.77 and 0.9 percent, respectively. Read more

MARKET UPDATE:Sensex down 285 points at 60,469 while Nifty at 18,044 lower by 68 points

MARKET UPDATE:Sensex down 285 points at 60,469 while Nifty at 18,044 lower by 68 points
Wednesday, January 19, 2022
The Indian benchmark indices extended their opening losses and were 0.5 percent lower in early morning trade today (19th January 2022). The BSE Sensex was down 285 points at 60,469 while the NSE Nifty was at 18,044 lower by 68 points. The index slipped below 18,000 to a low of 17,950 earlier. Infosys, Asian Paints, HCL Tech, Wipro, Ultratech Cement, Sun Pharma, Kotak Bank, L&T, TCS, HDFC, HUL, Airtel were the top laggards of the Sensex-30 pack and were trading 0.7-2 percent lower. On the Nifty, Tata Consumer, Adani Ports, HDFC Life, SBI Life, and Shree Cement were the additional losers. Read more

Closing Bell: BSE Sensex at 61,223, down 12 points and NSE Nifty ended 2 points down at 18,256 level

Closing Bell: BSE Sensex at 61,223, down 12 points and NSE Nifty ended 2 points down at 18,256 level
Friday, January 14, 2022
The day ended around a flat line today(14th January 2022) as benchmark indices staged a smart-recovery during the second half of the trading session, led by healthy buying in metal and PSU bank stocks. The markets, however, snapped their five-day winning run and ended lower amid weak global cues. The BSE Sensex index opened gap-down and hit a low of 60,757 in early deals today. It staged a smart come-back and bounced 567 points intraday to hit a high of 61,324.5. However, losses in private banks and select heavyweights such as HUL and Bharti Airtel held it from ending in the green zone. By the close, the BSE 30-pack index stood at 61,223, down 12 points or 0.02 percent. Following a similar trajectory, the NSE Nifty hit a low of 18,120 in early deals but recouped losses to hit a high of 18,287. It, eventually, pared gains and ended 2 points down at 18,256 level. Read more

MARKET UPDATE:Sensex opened 197 points lower at 58,610 levels while the Nifty at 17,480, down 36 points

MARKET UPDATE:Sensex opened 197 points lower at 58,610 levels while the Nifty at 17,480, down 36 points
Friday, December 10, 2021
Indian equities began on a quiet note today(10th December 2021) as investors await inflation data in India and the US. The S&P BSE Sensex opened 197 points, or 0.33 percent, lower at 58,610 levels. The Nifty50, meanwhile, was at 17,480, down 36 points. ITC, up 1.5 percent, extended Thursday's gains and was the top performer on the Sensex. Asian Paints, M&M, IndusInd Bank, Bajaj Auto, and Sun Pharma were also among the outperforming counters on the 30-pack index. On the downside, Titan, Axis Bank, HCL Tech, Tech M, and Bajaj Finance, and RIL were limiting the upside. The broader MidCap and SmallCap indices on the BSE, on the contrary, gained 0.11 percent and 0.27 percent, respectively. Among the lot, Go Fashion was up 3.6 percent after SBI Mutual Fund acquired 1.5 million equity shares in the company via the bulk deal. Sectorally, pharma, and realty stocks were supporting the markets while financials and IT were capping the gains.

RBI leaves key interest rates unchanged;economy better prepared to deal with Covid, says RBI Governor

RBI leaves key interest rates unchanged;economy better prepared to deal with Covid, says RBI Governor
Wednesday, December 8, 2021
The Reserve Bank of India’s monetary policy committee (MPC) today(8th December 2021) maintained key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding the Omicron coronavirus variant. Repo and reverse repo rates remain unchanged at 4 percent and 3.35 percent, respectively, said RBI governor Shaktikanta Das in a statement after a three-day meeting of the committee in Mumbai. The central bank maintained its FY22 GDP forecast at 9.5 percent and projected retail inflation to be at 5.3 percent. "Indian economy hauled itself out of its deepest contraction; we are better prepared to deal with Covid-19,” said the RBI Governor. "Given the slack in the economy and the ongoing catching up of activity, especially of private consumption, which is still below its pre-pandemic levels, continued policy support is warranted for a durable and broad-based recovery," he said. Read more

MARKET UPDATE:‘Black Friday’;Sensex shaved-off over 1,400 points in intra-day deals while Nifty lost over 400 points

MARKET UPDATE:‘Black Friday’;Sensex shaved-off over 1,400 points in intra-day deals while Nifty lost over 400 points
Friday, November 26, 2021
It was a horrible ‘Black Friday’ for the Indian markets that saw an across-the-board sell-off. The S&P BSE Sensex shaved off over 1,400 points in intra-day deals. Its counterpart on the National Stock Exchange, the Nifty50 index, lost over 400 points. The negative sentiment today(26th Nov.2021) in the Indian markets was on account of weak global cues. Most Asian markets were a sea of red with Japan’s Nikkei down 2 percent and Straits Times slipping nearly one percent. Shanghai Composite, Kospi, and Taiwan were down 0.2-0.4 percent, each. The US markets, however, were shut on account of the Thanksgiving holiday. This weak sentiment across Asian markets was triggered by fears of a sooner-than-expected rate hike by the US Federal Reserve (US Fed). Investors and traders, according to analysts, now expect the US central bank to raise rates faster on the back of the recently released FOMC minutes. Read more

Closing Bell: Sensex ends flat, Nifty at 18109.45

Closing Bell: Sensex ends flat, Nifty at 18109.45
Monday, November 15, 2021
At Close, the Sensex was up 32.02 points or 0.05% at 60718.71, and the Nifty was up 6.70 points or 0.04% at 18109.50. Power Grid Corporation was the top Sensex gainer, followed by ITC, Asian Paints, and Nestle India. Tata Steel was the worst-performing, followed by Mahindra & Mahindra, and Bajaj Auto. About 1218 shares have advanced, 2038 shares declined, and 145 shares are unchanged. The Healthcare index surged 2.1 percent, and the FMCG index was up 0.8 percent. Whereas the Metal index dropped 2.4 percent, and the Telecom index declined 0.7 percent. The BSE Midcap index was up 0.4 percent, while the Smallcap index was down 0.2 percent. India VIX closed 1.64% higher at 15.49 levels.

India's Oct WPI accelerates to 5-month high of 12.54%

India's Oct WPI accelerates to 5-month high of 12.54%
Monday, November 15, 2021
Annual wholesale price-based inflation in India accelerated in October to a five-month high, pushed up by increases in fuel and manufacturing prices, fuelling concerns of rising inflationary pressures for firms. The gap between retail and wholesale price-based inflation has widened in recent months as many companies and retailers are still trying to absorb galloping input costs that threaten to hit their bottom lines. Annual wholesale price-based inflation in October rose to 12.54% from the previous month's 10.66%, remaining in double-digits for the seventh month in a row, government data showed on Monday. Consumer prices based on inflation, the main gauge monitored by the monetary policy committee of the Reserve Bank of India, rose 4.48% in October from the same month last year, speeding up from September's 4.35%, separate data released on Friday showed. Read more

Discretionary products Companies to increase prices by 8-10%

Discretionary products Companies to increase prices by 8-10%
Friday, November 12, 2021
Companies and retailers selling discretionary products such as apparel, electronics, liquor, and cosmetics said they will increase prices by 8-10% to offset rising raw material and supply chain costs although it could impact demand for some products. Companies across grocery essentials, personal care products, packaged food, and dining had already raised prices and will make another round of hikes in the new year. The cost challenge comes at a time when retailers across segments breached the pre-pandemic sales mark during the festive season and are trying to sustain the momentum in the next few quarters. Read more

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels

MARKET UPDATE: Sensex at 60,531 levels, down 14 points, and Nifty unchanged at 18,068 levels
Tuesday, November 9, 2021
Indian benchmark indices started flat, with a negative bias, today(9th Nov.2021) amid profit booking in financial, metals, and FMCG space. In early deals, the 30-pack Sensex index was at 60,531 levels, down 14 points or 0.02 percent. Its NSE counterpart, Nifty50, meanwhile, was unchanged at 18,068 levels. Divi's Labs, ONGC, M&M, Hindalco, and Tata Motors were the top-performing stocks on the 50-share index while Britannia, HDFC, HDFC Bank, Infosys, and Power Grid were the top laggards. On the contrary, the MidCap and SmallCap indices on the BSE were up 0.6 percent and 0.4 percent, respectively. Among individual stocks, TVS Motor Company surged 10 percent in the mid-cap space amid reports that the company is evaluating the possibility of a fund raising exercise for its Electric Vehicle business. Read more

Closing Bell: Sensex 76.72, Nifty at 17,946.

Closing Bell: Sensex 76.72, Nifty at 17,946.
Monday, October 11, 2021
At close, the Sensex was up 76.72 points or 0.13 percent at 60,135.78, and the Nifty was up 50.80 points or 0.28 percent at 17,946. HDFC Bank, ICICI Bank, ITC, Housing Development Finance Corporation (HDFC), Kotak Mahindra, others contributed the most to the indices’ gain today. TCS, Tech Mahindra, Infosys, HCL Technologies and Wipro were among the losers.BSE Midcap index gained over half a per cent or 141 points to 25,978, while the SmallCap index added 0.60 per cent or 176 points. The Nifty Bank index hit a new liftime high of 38,495 in the intra-day trade before closing 1.4 per cent higher at 38,294 levels. The Nifty Auto index was the biggest gainer of the day, up 2.7 per cent, while the Nifty IT index declined the most, down over 3 per cent. India VIX, the volatility index, was up 2.8 per cent to settle at 16.09 levels.

RBI deputy governor sees FY22 inflation at 5.7% or lower

RBI deputy governor sees FY22 inflation at 5.7% or lower
Thursday, September 16, 2021
The retail inflation fell to 5.3% in August and stayed within the Reserve Bank of India’s target range for two successive months. This could lead the RBI to revise the inflation projection for the current financial year. In the August review of monetary policy, RBI revised its inflation projection for the current financial year upward to 5.7% from 5.1% projected in the June policy review. Read more

Global sell-off: Investors lose Rs 1.2 trillion as Sensex drops 587 pts

Global sell-off: Investors lose Rs 1.2 trillion as Sensex drops 587 pts
Monday, July 19, 2021
Indian benchmark indices plunged today(19th July 2021) joining the global sell-off on unchecked virus surge in parts of Asia and faltering economic growth. Metal and banks were among the biggest losers on indices. The 30-share pack Sensex declined 586.66 points or 1.1 percent to close at 52,553.40.NSE Nifty dipped 171 points or 1.07 percent to 15,752.40. During the sell-off, equity investors lost Rs 1.16 lakh crore as the total market capitalization of BSE-listed companies rose to Rs 234.46 lakh crore. "Shadowing global sell-off, Indian indices slipped, succumbing to world inflation woes, FOMC meeting next week and rising covid cases. Banks led the domestic downtrend as initial quarterly results pointed to cautious asset quality due to the impact of the second wave,” said an expert. Read more

Wholesale inflation eases to 12.07% in June

Wholesale inflation eases to 12.07% in June
Wednesday, July 14, 2021
India's wholesale inflation moderated to 12.07 percent in June from a record high of 12.94 percent in May amid a sustained rise in fuel and commodity prices, data released by the government today(14th July 2021) showed. Wholesale inflation came in at (-) 1.81 percent in June 2020, due to the implementation of a stringent nationwide lockdown. “The high rate of inflation in June 2021 is primarily due to low base effect and rise in prices of mineral oils viz. petrol, diesel (HSD), naphtha, ATF, furnace oil, etc, and manufactured products like basic metal, food products, chemical products, etc as compared to the corresponding month of the previous year,” an official statement said. Read more

RBI keeps growth revival top priority;maintained status quo on interest rates

RBI keeps growth revival top priority;maintained status quo on interest rates
Friday, June 4, 2021
The monetary policy committee of RBI maintained the status quo on interest rates for the sixth consecutive review meeting today(4th June 2021), indicating that reviving economic growth was top on its agenda as it decided to look through inflation pressure which is resurfacing in the economy due to a variety of factors including hardening of crude oil prices. “The MPC also decided unanimously to continue with the accommodative stance as long as necessary to revive and sustain growth on a durable basis and continue to mitigate the impact of COVID-19 on the economy, while ensuring that inflation remains within the target going forward,” said RBI governor Shaktikanta Das in Mumbai while announcing the policy review decision. Read more

Closing Bell:Sensex ends flat, Nifty at 15574.85

Closing Bell:Sensex ends flat, Nifty at 15574.85
Tuesday, June 1, 2021
At close, the Sensex was down 2.56 points at 51934.88, and the Nifty was down 7.90 points or 0.05% at 15574.90 as investors preferred to book profits after seven straight sessions of gains. ONGC, Bajaj Finance, State Bank of India (SBI), Housing Development Finance Corporation (HDFC), HUL, Tech Mahindra stocks were the top gainers in the Sensex pack. On the flip side, ICICI Bank, UltraTech Cement, Asian Paints, ITC were among the top index laggards. About 1303 shares have advanced, 1782 shares declined, and 119 shares are unchanged. Barring the Nifty Media, Pharma, and IT indices, all other indices settled the day in the red. The Nifty Private Bank index was the top loser, down 1 percent, while the Nifty IT index gained 0.11 percent. The S&P BSE MidCap closed 0.01 percent higher while the SmallCap index slipped 0.3 percent.

Indian Wholesale inflation soars to 10.49% in April

Indian Wholesale inflation soars to 10.49% in April
Monday, May 17, 2021
Wholesale inflation in India accelerated to 10.49 percent in April on account of a surge in the prices of fuel and manufactured products, data released by the commerce and industry ministry showed. The wholesale inflation rate, measured by WPI, has been rising continuously since December. It soared to an eight-year high in March to 7.39 percent. The latest price data released by the government today(17th May 2021) showed that food prices rose to 4.92 percent in April, along with a massive price surge in manufacturing products at 9.01 percent. Fuel and power inflation stood at nearly 21 percent led by higher petrol and diesel prices. Read more

Platts cuts India's 2021 oil demand by 28%

Platts cuts India's 2021 oil demand by 28%
Friday, May 14, 2021
India’s demand for oil & gas has been cut by S&P Global Platts amid the second wave of Covid cases that have triggered lockdowns across key states since the past few weeks. For 2021, it now pegs the oil demand growth at 350,000 barrels per day (b/d), down from a forecast of 485,000 b/d made in February – translating into a fall of nearly 28 percent. India's city gas demand, Platts said, could drop by 25 – 30 percent in the coming months. However, once the lockdowns are lifted, Platts expects the pent-up demand to get released, which in turn will act as a catalyst for economic growth and trigger a demand uptick for oil & gas in the country. Besides India, the demand forecast for 2021 has been revised down for Western Europe and Latin America due to more restrictions stemming from the second and third waves of Covid. Brent oil prices, WU said, will peak in mid-2021 at over $70 per barrel. Read more

Investors should be prepared for biggest inflation scare since 1980s

Investors should be prepared for biggest inflation scare since 1980s
Friday, March 12, 2021
Christopher Wood, global head of equity strategy at Jefferies in his weekly note to investors, GREED & fear warned investors for the biggest inflation scare since the 1980s. “For now investors should be prepared for the biggest inflation scare since the early 1980s, and wait to see how the (US) Fed reacts. In the meantime, Treasury bonds are likely to sell off more, and cyclical stocks rally more, before any such tapering scare,” Wood said. That said, he believes that if inflation really does return on a longer-term basis, it would mean that equities and bonds would become positively correlated on the downside - that is they will both go down in price together. The return of inflation fears has been stoked again by the rise in commodity prices, especially oil, which has jumped over 90 percent from its March 13 level of $35 a barrel (bbl.) to around $70/bbl. now. Read more

December wholesale inflation slows to 1.22% in India

December wholesale inflation slows to 1.22% in India
Thursday, January 14, 2021
The wholesale price-based inflation slowed to 1.22 percent in December on easing food prices, as per government data released today(14th January 2020). The inflation based on the Wholesale Price Index (WPI) was 1.55 percent in November 2020, and 2.76 percent in December 2019. The rate of inflation based on the WPI Food Index decreased from 4.27 percent in November 2020, to 0.92 percent in December 2020, as per the data released by the Department for Promotion of Industry and Internal Trade. It is to be noted here that retail inflation had also dropped sharply to 4.59 percent in December, mainly due to declining food prices.

GOI may recommend a looser inflation target for RBI

GOI may recommend a looser inflation target for RBI
Wednesday, December 9, 2020
GOI is considering recommending a looser inflation target for RBI, allowing it to focus more on economic growth despite price pressures, according to some sources. A consumer-price inflation band tracked by the Reserve Bank of India may be relaxed further from the current 2%-6% range. The government still needs to hold consultations with the central bank before finalizing a new framework sometime next year. The current mandate, set in 2016, requires the RBI to keep headline inflation at the 4% midpoint of its target range. The Finance Ministry is of the view that the RBI can’t be saddled with a rigid inflation targeting framework, especially in situations when growth needs to be pushed, as per the sources. Read more

Rupee the new inflation-fighting tool?

Rupee the new inflation-fighting tool?
Tuesday, September 1, 2020
When all most of us are worried about interest rates and how The RBI is fighting a spike in bond yields, it has quietly sent a message on its currency policy. It can’t handle the `impossible trinity’ anymore. This may well be the turning point in the adoption of policy tools. In a note announcing the `Measures to Foster Orderly Market Conditions’, the central bank has slipped in a message that it is worried about inflation and it won’t hesitate to use measures other than interest rates to fight price pressures. The recent appreciation of the rupee is working toward containing imported inflationary pressures,’’ said RBI in the note, which was dominated by measures to contain the bond market volatility. When RBI openly accepts that currency appreciation is helping achieve one of its key goals of inflation management when its hands are tied, it is an acknowledgment that the objective of currency operations has evolved beyond just tempering the volatility. Read more

Is Golden era for Bank Fixed Deposits gone forever?

Is Golden era for Bank Fixed Deposits gone forever?
Friday, August 28, 2020
As the interest rate on bank deposit continues to be subdued and real returns turn negative in the wake of rising inflation, the common Indian bank depositor has been left rueing a bitter harvest. At stake is the future of a time-tested investment instrument that generation after generation of Indians used to keep their money in and generate fairly decent returns over time. Bank fixed deposit (FD) rates have fallen from 8-10 percent per annum a few years ago to 5-7 percent per annum currently, says Jimmy Patel, MD & CEO, Quantum Mutual Fund. For most of India's senior citizens, FDs are the primary investment, and current rates are not viable because of paltry real returns, he adds. Read more

Inflation above MPC comfort range for fourth straight month

Inflation above MPC comfort range for fourth straight month
Friday, August 14, 2020
Consumer Price Index (CPI)-based inflation came in above the monetary policy committee’s target band of 4 percent (with a margin of +/-2) for the fourth consecutive month in July. The official data released yesterday(13th August 2020) showed that retail inflation rose to 6.93 percent year-on-year, up from 6.23 percent in June, mainly because of a rise in food and petroleum prices. Consumer Food Price Index-based inflation (CFPI) rose to 9.62 percent in July, compared to 8.72 percent in the previous month. Last week, the Reserve Bank of India’s (RBI’s) monetary policy committee kept key policy rates unchanged, deciding to use the future rate cuts “judiciously to maximize the beneficial effects”. The repo rate currently stands at 4 percent, and the reverse repo rate at 3.35 percent. Retail inflation has breached the RBI’s upper tolerance limit (6 percent) for four consecutive months and seven out of eight months.

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