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MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Monday, June 12, 2023

Opening Bell: Indian equity benchmark indices opened with slim gains today(12 June 2023) as Dalal Street awaits consumer inflation for May and IIP data for April later today. The BSE Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600. The broader markets also moved higher. The BSE MidCap and SmallCap indices rose 0.14 percent and 0.4 percent, respectively. Read more

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

Friday, June 9, 2023

Opening Bell: Indian equity markets opened in positive territory in today's( trade, amidst solid global cues. Frontline indices the S&P BSE Sensex surged over 100 points to trade around 62,962 levels, whereas the NSE Nifty50 climbed over 30 points to trade above 18,650 levels. The strength also spread to broader markets, with Nifty Midcap 100 and Nifty Smallcap 100 indices rising 0.2 percent each to outperform benchmark indices. Read more

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

Thursday, June 8, 2023

Opening Bell: Indian markets started on a positive note today( 8 June 2023), ahead of the Reserve Bank of India's (RBI) monetary policy decision. Frontline indices the S&P BSE Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels. Broader markets, however, outperformed benchmark indices as Nifty Midcap 100, and Nifty Smallcap 100 indices surged up to 0.3 percent. Read more

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

Wednesday, June 7, 2023

Opening Bell: Indian markets opened higher in today's(7 June 2023) trade, amidst mixed global cues. Frontline indices the S&P BSE Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels. Broader markets, too, exhibited strength as they outperformed benchmark indices. Nifty Midcap 100, and Nifty Smallcap 100 indices climbed up to 0.5 percent. Read more

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Tuesday, June 6, 2023

Indian markets were flat in today's(6 June 2023) intra-day trade, amid weak global cues. Frontline indices the S&P BSE Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels. Broader markets exhibited volatility as Nifty Midcap 100, and Nifty Smallcap 100 indices swung between red and green. Read more

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

Monday, June 5, 2023

Opening Bell: Indian markets opened higher in today's (5 June 2023) trade, following a strong global handover. Frontline indices the S&P BSE Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels. The strength spilled to broader markets too, with Nifty Midcap and Nifty Smallcap indices gaining up to 0.5 percent. Read more

MARKET UPDATE: Sensex fell 200 points to 62,770, and the Nifty50 slipped 62 points to 18,573

MARKET UPDATE: Sensex fell 200 points to 62,770, and the Nifty50 slipped 62 points to 18,573

Wednesday, May 31, 2023

Opening Bell: Indian equity benchmark indices opened with cuts today(31 May 2023) tracking losses in Asian equities ahead of the key vote in the US Congress on raising the borrowing limit. The BSE Sensex fell 200 points to 62,770, and the NSE Nifty50 slipped 62 points to 18,573. The BSE MidCap and SmallCap indices, meanwhile, held relative strength against benchmarks. The former was down 0.1 percent, and the latter was flat. Read more

MARKET UPDATE: Sensex fell 66 points to 62,780, and the NSE Nifty50 slipped 15 points to 18,583

MARKET UPDATE: Sensex fell 66 points to 62,780, and the NSE Nifty50 slipped 15 points to 18,583

Tuesday, May 30, 2023

Opening Bell: Indian equity benchmark indices opened nearly flat today(30 May 2023) tracking the quiet mood across global markets as investors remain on the sidelines ahead of US lawmakers' key vote on lifting the debt limit. The BSE Sensex fell 66 points to 62,780, and the NSE Nifty50 slipped 15 points to 18,583. The broader markets, meanwhile, outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.18 percent versus the nearly flat BSE Sensex index. Read more

MARKET UPDATE: Sensex gained 160 points to 62,050, and Nifty50 edged 47 points higher to 18,370

MARKET UPDATE: Sensex gained 160 points to 62,050, and Nifty50 edged 47 points higher to 18,370

Friday, May 26, 2023

Opening Bell: Indian equity benchmark indices opened with nominal gains today(26 May 2023) tracking overnight strength in the US markets. The BSE Sensex gained 160 points to 62,050, and the NSE Nifty50 edged 47 points higher to 18,370. The broader markets opened in line with benchmarks. The BSE MidCap and SmallCap indices rose up to 0.3 percent. Read more

MARKET UPDATE: Sensex traded flat at 61,716 levels, whereas Nifty50 traded below 18,300 levels

MARKET UPDATE: Sensex traded flat at 61,716 levels, whereas Nifty50 traded below 18,300 levels

Thursday, May 25, 2023

Opening Bell: Indian markets started today's(25 ay 2023) trade on a weak note, amidst mixed global cues. Frontline indices the S&P BSE Sensex traded flat at 61,716 levels, whereas Nifty50 traded below 18,300 levels. Broader markets, meanwhile, outperformed benchmark indices as Nifty Midcap 100, and Nifty Smallcap 100 indices slipped up to 0.2 percent. The volatility index, India VIX, declined by over 2 percent. Read more

MARKET UPDATE: Sensex slipped 160 points to trade below 59,000-mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels

MARKET UPDATE: Sensex slipped 160 points to trade below 59,000-mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels

Wednesday, May 24, 2023

Opening Bell: Indian markets opened lower in today's(24 May 2023) trade in tune with the weak global cues. Frontline indices the S&P BSE Sensex slipped 160 points to trade below the 59,000 mark, whereas Nifty50 declined over 50 points to trade below 18,300 levels. Broader markets, meanwhile, exhibited mixed trends as Nifty Smallcap 100 index gained marginally over Nifty Midcap 100 index. Read more

MARKET UPDATE: Sensex recovered over 350 points to claim day's high of 61,942 levels, whereas Nifty50 recouped over 100 points to scale day's high of 18,281 levels

MARKET UPDATE: Sensex recovered over 350 points to claim day's high of 61,942 levels, whereas Nifty50 recouped over 100 points to scale day's high of 18,281 levels

Monday, May 22, 2023

Indian markets wiped off early losses and turned positive in today's(22 May 2023) intra-day trade. Benchmark indices the S&P BSE Sensex recovered over 350 points to claim the day's high of 61,942 levels, whereas Nifty50 recouped over 100 points to scale the day's high of 18,281 levels. The strength spilled to broader markets too, with Nifty Midcap 100, and Nifty Smallcap 100 indices advancing up to 0.2 percent. Meanwhile, India VIX's volatility gauge moderated to 1 percent from the day's 3 percent. Read more

MARKET UPDATE: Sensex gained 155 points to 61,587, and Nifty50 edged 42 points higher to 18,172

MARKET UPDATE: Sensex gained 155 points to 61,587, and Nifty50 edged 42 points higher to 18,172

Friday, May 19, 2023

OPENING BELL: Indian Equity benchmark indices opened with slim gains today(19 May 2023) tracking strength in global markets after US indices touched 9-month-highs overnight. The BSE Sensex gained 155 points to 61,587, and the NSE Nifty50 edged 42 points higher to 18,172. SBI, Tech M, Infosys, HCL Tech, Nestle, ICICI Bank, Ultratech Cement, and Pwer Grid led gains on the Sensex, rising 0.5-1.2 percent. The broader markets opened tepidly. The BSE MidCap was down 0.08 percent and the SmallCap index rose 0.13 percent. On the downside, Divi's Lab, Eicher Motors, UPL, Titan, Maruti, and Tata Steel were the top frontline laggards. Sectorwise, Nifty Auto, Metal, Realty, FMCG and Pharma indices declined, while the IT and PSB pockets were the top gainers. Among stocks, Bata India rose 4 percent on reporting a 4.5 percent YoY profit growth in Q4 to Rs 65.55 crore.

MARKET UPDATE: Sensex rose 330 points to 61,890, and Nifty50 gained 72 points to 18,266

MARKET UPDATE: Sensex rose 330 points to 61,890, and Nifty50 gained 72 points to 18,266

Thursday, May 18, 2023

Indian equity benchmark indices held substantial gains in today's(18 May 2023) trade in line with strength in global equities in hopes that a deal to lift the US debt ceiling will soon be reached. The BSE Sensex rose 330 points to 61,890, and the NSE Nifty50 gained 72 points to 18,266. The broader markets opened in line with benchmarks. The BSE MidCap and SmallCap indices rose up to 0.5 percent. Read more

MARKET UPDATE: Sensex opened 44 points lower at 62,300, and the NSE Nifty50 unchanged at 18,394

MARKET UPDATE: Sensex opened 44 points lower at 62,300, and the NSE Nifty50 unchanged at 18,394

Tuesday, May 16, 2023

OPENING BELL: Indian equity benchmark indices opened flat today(16 May 2023) tracking mixed global cues. The BSE Sensex opened 44 points lower at 62,300, and the NSE Nifty50 was largely unchanged at 18,394. Tata Steel, Infosys, Wipro, and Nestle led gains on the Sensex, while ONGC, Hindalco, and Divi's Lab rose 1 percent each on the Nifty50. On the flip side, HDFC twins led losses on the Sensex, dropping 1 percent each. Tata Motors, Maruti, and M&M were other frontline losers. The broader markets outperformed benchmarks. The BSE MidCap and SmallCap indices rose up to 0.6 percent versus the nearly flat BSE Sensex. Read more

MARKET UPDATE: Sensex gained 160 points to 62,200, and the NSE Nifty50 edged 45 points up to 18,360

MARKET UPDATE: Sensex gained 160 points to 62,200, and the NSE Nifty50 edged 45 points up to 18,360

Monday, May 15, 2023

Indian Equity benchmark indices held gains in today's(15 May 2023) early trade following a respite in the CPI inflation, which dipped to an 18-month low of 4.7 percent in April. The BSE Sensex gained 160 points to 62,200, and the NSE Nifty50 edged 45 points up to 18,360. The broader markets opened tepidly. The BSE MidCap and SmallCap indices were nearly flat versus a mild uptick in the BSE Sensex Read more

MARKET UPDATE: Sensex fell 190 points to 61,717, and NSE Nifty50 slipped 55 points to 18,242

MARKET UPDATE: Sensex fell 190 points to 61,717, and NSE Nifty50 slipped 55 points to 18,242

Friday, May 12, 2023

Indian equity benchmark indices held losses in today's (12 May 2023) intra-day trade as investors remained cautious ahead of the April consumer inflation and March IIP data that will be released after market hours. The BSE Sensex fell 190 points to 61,717, and the NSE Nifty50 slipped 55 points to 18,242. The broader markets were mixed. The BSE MidCap index was flat but the SmallCap pocket outperformed the benchmarks and rose 0.25 percent. Read more

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 gained 200 points to 61,965, and the NSE Nifty50 moved 47 points higher to 18,316

MARKET UPDATE: Sensex gained 200 points to 61,965, and the NSE Nifty50 moved 47 points higher to 18,316

Wednesday, May 10, 2023

Opening Bell: Indian equity benchmark indices opened with nominal gains today( 10 May 2023) despite losses in other global markets, where investor sentiment has remained cautious ahead of the US CPI figure later today. The BSE Sensex gained 200 points to 61,965, and the NSE Nifty50 moved 47 points higher to 18,316. The broader markets opened in line with benchmarks. The BSE MidCap and SmallCap indices rose up to 0.4 percent. Read more

MARKET UPDATE: Sensex rose 170 points to 61,936 while the Nifty50 moved 50 points higher to 18,315

MARKET UPDATE: Sensex rose 170 points to 61,936 while the Nifty50 moved 50 points higher to 18,315

Tuesday, May 9, 2023

Opening Bell: The Indian equity benchmark indices opened with nominal gains today(09 May 2023) as global markets remained mixed. The BSE Sensex rose 170 points to 61,936, and the NSE Nifty50 moved 50 points higher to 18,315. The broader markets, meanwhile, firmly outperformed gains in the benchmark. The BSE MidCap and SmallCap indices rose up to 0.7 percent versus a 0.2 percent gain in the BSE Sensex. Read more

MARKET UPDATE: Sensex opened 320 points higher to 61,372 while the Nifty50 gained 87 points to 18,156

MARKET UPDATE: Sensex opened 320 points higher to 61,372 while the Nifty50 gained 87 points to 18,156

Monday, May 8, 2023

Opening Bell: Indian Equity benchmark indices opened with nominal gains today (08 May 2023) tracking a sharp rally in US equities on Friday. The BSE Sensex opened 320 points higher to 61,372, and the NSE Nifty50 gained 87 points to 18,156. IndusInd Bank, Maruti, Tata Motors, HDFC twins, Nestle, and Wipro led gains on the Sensex, while Britannia, Hero Moto, and Bajaj Auto were the top Nifty winners. On the downside, Coal India, Adani Enterprises, Sun Pharma, L&T, and Tata Steel were among the few frontline losers. The broader markets also opened in tandem with benchmarks. The BSE MidCap and SmallCap indices rose up to 0.4 percent. Read more

MARKET UPDATE: Sensex dropped by 400 points to 61,338 while the Nifty50 fell by 100 points to 18,150

MARKET UPDATE: Sensex dropped by 400 points to 61,338 while the Nifty50 fell by 100 points to 18,150

Friday, May 5, 2023

Opening Bell: Today (5 May 2023), equity benchmark indices opened with losses as the concerns over contagion in the regional banking space deepened on Wall Street overnight. The BSE Sensex dropped by 400 points to 61,338, and the NSE Nifty50 fell by 100 points to 18,150. The HDFC twins were the major losers on the Sensex, declining by 4%, followed by IndusInd Bank, HDFC Life, and Tata Steel. On the other hand, ICICI Bank, L&T, Axis Bank, Nestle, Ultratech Cement, and SBI were the top gainers on the Sensex. However, the broader markets opened higher, with the BSE MidCap and SmallCap indices rising by up to 0.3%. Read more

MARKET UPDATE: Sensex gained over 50 points to trade around 61,254 levels while the Nifty50 traded flat above 18,100 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 61,254 levels while the Nifty50 traded flat above 18,100 levels

Thursday, May 4, 2023

Indian markets started today's(4 May 2023) trade on a firm note, after the US Federal Reserve hiked interest rates by 25 basis points. Key indices Nifty50 traded flat above 18,100 levels, whereas the S&P BSE Sensex gained over 50 points to trade around 61,254 levels. Broader markets, also, were upbeat in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices surged up to 0.5 percent. Read more

MARKET UPDATE: Sensex rose 250 points to 61,361, while the Nifty50 edged 74 points to 18,139 level

MARKET UPDATE: Sensex rose 250 points to 61,361, while the Nifty50 edged 74 points to 18,139 level

Tuesday, May 2, 2023

Opening Bell: Indian equity markets opened with firm gains today(2 May 2023) buoyed by positive sentiment across Asian markets, following the takeover of fallen US lender First Republic Bank by JP Morgan Chase on Monday. The BSE Sensex rose 250 points to 61,361, and the NSE Nifty50 edged 74 points to 18,139 level. The broader markets, meanwhile, outweighed gains in the benchmarks. The BSE MidCap and SmallCap indices rose 0.7 percent each. Read more

MARKET UPDATE: Sensex down around 70 points at 60,580, while the Nifty50 held the 17,900-mark, down 11 points

MARKET UPDATE: Sensex down around 70 points at 60,580, while the Nifty50 held the 17,900-mark, down 11 points

Friday, April 28, 2023

Opening Bell: The Indian benchmark S&P BSE Sensex failed to hold on to its gains in morning deals today( 28 April 2023) Despite firm global sentiment. The index, which opened nearly 100 points higher, was down around 70 points at 60,580 weighed down by Bajaj Finserv, HUL, Axis Bank, Bajaj Finance, HCL Tech, Tech M, and HDFC Bank shares. The NSE Nifty50, meanwhile, held the 17,900 mark, down 11 points. In the broader markets, the BSE MidCap index added 0.41 percent, and the BSE SmallCap index advanced 0.5 percent. Read more

MARKET UPDATE: Sensex at 60,343 in early deals, trading 43 points higher, while the Nifty50 held above 17,800-mark

MARKET UPDATE: Sensex at 60,343 in early deals, trading 43 points higher, while the Nifty50 held above 17,800-mark

Thursday, April 27, 2023

Opening Bell: Indian benchmark indices were volatile today(27 April 2023), as traders prepare for the monthly F&O expiry. The S&P BSE Sensex was at 60,343 in early deals, trading 43 points higher, while the Nifty50 held above 17,800-mark. In the broader markets, the BSE MidCap index was flat, and SmallCap index added 0.24 per cent. Shares of Bajaj Finance gained 2.45 per cent. The company's consolidated net profit rose 30 per cent YoY to Rs 3,158 crore in Q4FY23, on the back of higher net interest income (NII). The board recommended dividend payout of Rs 30 per share. Read more

MARKET UPDATE: Sensex quoted at 60,164, up 34 points, while the Nifty50 was unchanged at 17,769.

MARKET UPDATE: Sensex quoted at 60,164, up 34 points, while the Nifty50 was unchanged at 17,769.

Wednesday, April 26, 2023

Opening Bell: Indian equity markets began flat on the last day of the expiry of the F&O contracts for April. The S&P BSE Sensex quoted at 60,164, up 34 points or 0.06 percent. The Nifty50, meanwhile, was unchanged at 17,769. The BSE MidCap index was in the red in the broader markets, while the BSE SmallCap index gained 0.15 percent. Individually, shares of Bajaj Auto dipped 1.37 percent as the two-wheeler major posted a 2 percent drop in profit after tax (PAT) to Rs 1,433 crore in Q4FY23, despite 12 percent year-on-year (YoY) growth in revenue to Rs 8,905 crore. Read more

MARKET UPDATE: Sensex dipped 4 points to quote at 60,052 levels, while the Nifty50 hovered around 17,730 levels

MARKET UPDATE: Sensex dipped 4 points to quote at 60,052 levels, while the Nifty50 hovered around 17,730 levels

Tuesday, April 25, 2023

Opening Bell: Today ( 25 April 2023), benchmark S&P BSE Sensex dipped 4 points to quote at 60,052 levels while the Nifty50 index hovered around 17,730 levels mainly pulled down by selling in HDFC, HUL, M&M, Infosys, HCL Tech, and HDFC Bank. In the broader markets, the BSE MidCap was flat with a mild downtick, and SmallCap indices were up 0.1 percent. Read more

MARKET UPDATE: Sensex advanced 165 points to quote 59,820 levels, while the Nifty50 attempted to surpass 17,700-mark

MARKET UPDATE: Sensex advanced 165 points to quote 59,820 levels, while the Nifty50 attempted to surpass 17,700-mark

Monday, April 24, 2023

Opening Bell: The S&P BSE Sensex advanced 165 points to quote 59,820 levels today(24 April 2023) as investors bought shares of ICICI Bank, Reliance Industries, Wipro, IndusInd Bank, and HDFC twins. The Nifty50 attempted to surpass the 17,700 mark. Both benchmark indices were up over 0.25 percent each. In the broader markets, the BSE MidCap and SmallCap indices were mixed with the former in the red, and the latter in the green. Sectorally, the Nifty Media, Pharma, and Realty indices fell up to 1 percent, while the Nifty Bank index was up 0.5 percent. Read more

MARKET UPDATE: Sensex rose over 100 points to quote at 59,750, while the Nifty50 tested 17,650

MARKET UPDATE: Sensex rose over 100 points to quote at 59,750, while the Nifty50 tested 17,650

Friday, April 21, 2023

Opening Bell: Indian benchmark indices nudged higher today(21 April 2023), despite global sentiment. In early deals, the S&P BSE Sensex rose over 100 points to quote at 59,750, while the Nifty50 tested 17,650. In the broader market, the BSE MidCap dipped marginally, while the SmallCap index added 0.14 percent. HCL Technologies shares climbed over 2 percent as the IT company reported better-than-expected results for Q4FY23. The company posted a net profit of Rs 3,983 crore for the quarter. This was up 10.8 percent year-on-year (YoY). Read more

MARKET UPDATE: Sensex quoted at 59,810, up 242 points whereas Nifty50 held above 17,650-mark

MARKET UPDATE: Sensex quoted at 59,810, up 242 points whereas Nifty50 held above 17,650-mark

Thursday, April 20, 2023

Opening Bell: Indian equity markets steadied themselves today( 20 April 2023) as investors assessed Q4 earnings and global cues. The S&P BSE Sensex, after starting flat, quoted at 59,810, up 242 points or 0.4 percent, while the Nifty50 held above the 17,650 mark. Individually, Titan, Ultratech Cement, Asian Paints, Tata Motors, Bajaj Finserv, ITC, and M&M were the large caps that lifted the benchmarks. In the broader market, the BSE MidCap and SmallCap indices added 0.18 percent and 0.4 percent, respectively. Sectorally, the Nifty Pharma index was down 0.37 percent, while the Nifty Auto was up 0.2 percent. All other indices were flat on either side. Read more

MARKET UPDATE: Sensex started over 60 points lower at 59,660 , whereas Nifty50 quoted below 17,650

MARKET UPDATE: Sensex started over 60 points lower at 59,660 , whereas Nifty50 quoted below 17,650

Wednesday, April 19, 2023

Opening Bell: Benchmark S&P BSE Sensex started over 60 points, or 0.11 percent, lower at 59,660 today(19 April 2023) amid losses in Infosys, Asian Paints, IndusInd Bank, HUL, ITC, ICICI Bank, and Kotak bank. The Nifty50, meanwhile, is quoted below 17,650.

MARKET UPDATE: Sensex down over 100 points at 59,790 levels, whereas Nifty50 slipped below the 17,700-mark

MARKET UPDATE: Sensex down over 100 points at 59,790 levels, whereas Nifty50 slipped below the 17,700-mark

Tuesday, April 18, 2023

Stock market updates: Amid increased volatility, Indian benchmark S&P BSE Sensex erased early morning gains, and was down over 100 points at 59,790 levels. The Nifty50, meanwhile, slipped below the 17,700 mark. Losses in PowerGrid, Reliance Industries, TCS, Tech M, Bajaj Finance, Titan, HUL, Wipro, L&T, and Sun Pharma weighed on the frontline indices. In the broader markets, the BSE MidCap and SmallCap indices continued to hold gains of up to 0.3 percent. Sectorally, the Nifty IT index slipped 0.4 percent, while the Nifty Realty and PSU bank indices added up to 0.5 percent. In Newly listed shares Shares of Avalon Technologies made a tepid debut on the bourses on Tuesday, listing at Rs 431 on the BSE. This was a 1.15 percent discount to its issue price of Rs 436 apiece.

MARKET UPDATE: Sensex fell over 120 points to 60,280 level, whereas Nifty50 slipped 21 points to below 17,800

MARKET UPDATE: Sensex fell over 120 points to 60,280 level, whereas Nifty50 slipped 21 points to below 17,800

Thursday, April 13, 2023

Opening Bell: The key benchmark indices started today's(13 April 2023) session with minor cuts tracking weakness across global markets after the FOMC minutes showed that officials expect a mild recession in the US later this year. The BSE Sensex fell over 120 points to the 60,280 level and the NSE Nifty50 slipped 21 points to below 17,800. IndusInd Bank, Infosys, HCL Tech, Tech M, TCS, and Wipro led the losses on the Sensex, dropping 1-2.5 percent. On the flip side, M&M, Power Grid, RIL, Asian Paints, and Tata Steel held gains of 0.4-1 percent. The broader markets, meanwhile, outperformed the benchmarks. The BSE MidCap and SmallCap indices rose up to 0.23 percent. Sectorwise, the IT index dropped over 1 percent as weak results of TCS dampened overall sentiment in the pack. Other indices held nominal gains.

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.

MARKET UPDATE: Sensex advanced over 200 points to reclaim 60,000-mark, whereas Nifty50 climbed over 50 points to trade above 17,650 levels

MARKET UPDATE: Sensex advanced over 200 points to reclaim 60,000-mark, whereas Nifty50 climbed over 50 points to trade above 17,650 levels

Tuesday, April 11, 2023

Opening Bell: Indian markets opened on a firm note in today's(11 April 2023) trade, amidst improved global sentiments. Key indices Nifty50 climbed over 50 points to trade above 17,650 levels, whereas the S&P BSE Sensex advanced over 200 points to reclaim the 60,000 mark. Broader markets, too, were upbeat in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices surged up to 0.4 percent. The volatility index, India VIX, meanwhile, slipped over 1 percent. Sectorally barring the Nifty IT index, which lost marginally in trade, all other sectors swimming in a sea of green. The Nifty PSU Bank index led the charge as it gained over 1 percent. Among individual stocks, shares of Shilpa Medicare soared over 8 percent after the USFDA gave a nod to its ANDA, Apremilast tablets. In addition shares of Nagarjuna Fertilisers rallied over 4 percent after the company restarted its urea production in Plant - II in Andhra Pradesh.

MARKET UPDATE: Sensex advanced over 100 points to trade around 59,957 levels, whereas Nifty50 climbed over 30 points to trade above 17,600 levels

MARKET UPDATE: Sensex advanced over 100 points to trade around 59,957 levels, whereas Nifty50 climbed over 30 points to trade above 17,600 levels

Monday, April 10, 2023

Opening Bell: Indian markets opened on a firm note in today's(10 April 2023) trade, amid mixed global cues. Key indices Nifty50 climbed over 30 points to trade above 17,600 levels, whereas the S&P BSE Sensex advanced over 100 points to trade around 59,957 levels. Broader markets, too, were upbeat in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices surged up to 0.4 percent. Read more

MARKET UPDATE: Sensex slipped over 100 points to trade around 59,574 levels, whereas Nifty50 index traded flat below 17,550 levels

MARKET UPDATE: Sensex slipped over 100 points to trade around 59,574 levels, whereas Nifty50 index traded flat below 17,550 levels

Thursday, April 6, 2023

Indian markets were flat in today's(6 April 2023) trade, ahead of the Reserve Bank of India's (RBI) monetary policy decision. While the Nifty50 index traded flat below 17,550 levels, the S&P BSE Sensex slipped over 100 points to trade around 59,574 levels. Broader markets, too, fell in tandem as Nifty Smallcap 100 and Nifty Midcap 100 indices skid up to 0.2 percent. Read more

MARKET UPDATE: Sensex advanced over 150 points to trade around 59,281 levels, whereas Nifty50 climbed over 40 points to trade above 17,400 levels

MARKET UPDATE: Sensex advanced over 150 points to trade around 59,281 levels, whereas Nifty50 climbed over 40 points to trade above 17,400 levels

Wednesday, April 5, 2023

Opening Bell: Indian markets opened higher in today's(5 April 2023) trade, despite mixed global cues. Key indices Nifty50 climbed over 40 points to trade above 17,400 levels, whereas the S&P BSE Sensex advanced over 150 points to trade around 59,281 levels. Broader markets, however, were mixed as Nifty Smallcap 100 index outperformed Nifty Midcap 100 index. Read more

MARKET UPDATE: Sensex surged over 100 points to reclaim 59,000-mark, whereas Nifty50 index surged over 30 points to trade above 17,350 levels

MARKET UPDATE: Sensex surged over 100 points to reclaim 59,000-mark, whereas Nifty50 index surged over 30 points to trade above 17,350 levels

Monday, April 3, 2023

Opening Bell: Indian markets edged higher in today's( 3 April 2023) trade, supported by gains across index-heavyweights like Maruti Suzuki, Bajaj Twins, Bharti Airtel, and Tata Steel, among others. Frontline indices the S&P BSE Sensex surged over 100 points to reclaim the 59,000 mark, whereas the Nifty50 index surged over 30 points to trade above 17,350 levels. Broader markets, too, were upbeat in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices rose up to 0.4 percent. Read more

MARKET UPDATE: Sensex gained over 200 points to trade around 57,823 levels whereas Nifty50 climbed over 50 points to reclaim 17,000-mark

MARKET UPDATE: Sensex gained over 200 points to trade around 57,823 levels whereas Nifty50 climbed over 50 points to reclaim 17,000-mark

Wednesday, March 29, 2023

Benchmark indices Nifty50 climbed over 50 points to reclaim the 17,000 mark, whereas the S&P BSE Sensex gained over 200 points to trade around 57,823 levels. The strength spread across broader markets as well, with Nifty Midcap 100 and Nifty Smallcap 100 indices surging up to 0.1 percent. Volatility gauge, India VIX, meanwhile, slipped over 2 percent. Read more

MARKET UPDATE: Sensex advanced over 150 points to trade around 57,838 levels whereas Nifty50 climbed over 50 points to reclaim 17,000 levels

MARKET UPDATE: Sensex advanced over 150 points to trade around 57,838 levels whereas Nifty50 climbed over 50 points to reclaim 17,000 levels

Tuesday, March 28, 2023

Opening Bell: In Indian markets improved global sentiments instilled strength in today's( 28 March 2023) trade. Key indices Nifty50 climbed over 50 points to reclaim 17,000 levels, whereas the S&P BSE Sensex advanced over 150 points to trade around 57,838 levels. Bullish sentiment was visible across broader markets as well, as Nifty Midcap 100 and Nifty Smallcap 100 indices advanced up to 0.1 percent. Read more

MARKET UPDATE: Sensex gained over 100 points to trade around 58,054 levels whereas Nifty50 traded flat above 17,050 levels

MARKET UPDATE: Sensex gained over 100 points to trade around 58,054 levels whereas Nifty50 traded flat above 17,050 levels

Friday, March 24, 2023

Opening Bell: Indian equity markets were volatile in today's ( 24 March 2023) trade, amid mixed global cues. Key indices Nifty50 traded flat above 17,050 levels, whereas the S&P BSE Sensex gained over 100 points to trade around 58,054 levels. Broader markets, meanwhile, were mixed as Nifty Smallcap 100 index gained marginally higher than Nifty Midcap 100 index. Read more

MARKET UPDATE: Sensex declined over 300 points to trade around 57,911 levels while Nifty50 lowered over 50 points to trade below 17,100 levels

MARKET UPDATE: Sensex declined over 300 points to trade around 57,911 levels while Nifty50 lowered over 50 points to trade below 17,100 levels

Thursday, March 23, 2023

Opening Bell: Indian equity markets opened lower in today's (23 March 2023) trade. Global sentiments turned weaker after the US Federal Reserve indicated another rate hike this year post a 25 basis point increase in the March meeting. Key indices Nifty50 lowered over 50 points to trade below 17,100 levels, whereas the S&P BSE Sensex declined over 300 points to sell around 57,911 levels. Broader markets, too, inched lower in the trade as Nifty Midcap 100 and Nifty Smallcap 100 indices fell up to 0.3 percent. Volatility gauge, India VIX, meanwhile, climbed over 1 percent. Read more

MARKET UPDATE: Sensex advanced over 400 points to trade around 58,078 levels while Nifty50 climbed over 100 points to trade above 17,100 levels

MARKET UPDATE: Sensex advanced over 400 points to trade around 58,078 levels while Nifty50 climbed over 100 points to trade above 17,100 levels

Friday, March 17, 2023

Indian markets were higher in today's( 17 March 2023) trade, amid strong global cues. Key indices Nifty50 climbed over 100 points to trade above 17,100 levels, whereas the S&P BSE Sensex advanced over 400 points to trade around 58,078 levels. Broader markets, too, edged higher in the trade as Nifty MidCap 100 and Nifty Smallcap 100 indices surged up to 0.9 percent. The volatility index, India VIX, meanwhile, slipped over 5 percent. Read more

MARKET UPDATE: Sensex declined over 100 points to trade around 57,432 levels while Nifty50 hovered flat below 16,950 levels

MARKET UPDATE: Sensex declined over 100 points to trade around 57,432 levels while Nifty50 hovered flat below 16,950 levels

Thursday, March 16, 2023

Opening Bell: The Indian markets opened lower in Thursday's trade, amid mixed global cues. Benchmark indices Nifty50 hovered flat below 16,950 levels, whereas the S&P BSE Sensex declined over 100 points to trade around 57,432 levels. Broader markets, too, fell in tandem as Nifty Midcap 100 and Nifty Smallcap 100 indices lowered up to 0.3 percent. The volatility index, India VIX, climbed over 1 percent. Read more

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 hovered around 58,258 levels while Nifty50 flat below 17,200 levels

MARKET UPDATE: Sensex hovered around 58,258 levels while Nifty50 flat below 17,200 levels

Tuesday, March 14, 2023

Opening Bell: The Indian markets opened volatile in today's(14 March 2023) trade, amid grim global cues. Key indices Nifty50 was flat below 17,200 levels, whereas the S&P BSE Sensex hovered around 58,258 levels. Broader markets, too, were tepid in the trade as Nifty Smallcap 100 and Nifty Midcap 100 indices slipped up to 0.3 percent. The volatility index, India VIX, meanwhile, slipped over 3 percent. Read more

MARKET UPDATE: Sensex advanced over 300 points to trade around 59,462 levels while Nifty50 gained over 100 points to trade above 17,500 levels

MARKET UPDATE: Sensex advanced over 300 points to trade around 59,462 levels while Nifty50 gained over 100 points to trade above 17,500 levels

Monday, March 13, 2023

Opening Bell: The Indian markets opened higher in today's(13 march 2023) trading session, amid mixed global cues. Key indices Nifty50 gained over 100 points to trade above 17,500 levels, and the S&P BSE Sensex advanced over 300 points to trade around 59,462 levels. Broader markets, however, were tepid as Nifty Midcap 100 and Nifty Smallcap 100 indices lowered up to 0.1 percent. Read more

MARKET UPDATE: Sensex tumbled over 700 points to trade around 59,081 levels while Nifty50 declined over 200 points to trade below 17,400 levels

MARKET UPDATE: Sensex tumbled over 700 points to trade around 59,081 levels while Nifty50 declined over 200 points to trade below 17,400 levels

Friday, March 10, 2023

Opening Bell: The Indian markets opened lower in today's(10 March 2023) trade, amid weak global cues. Key indices Nifty50 declined over 200 points to trade below 17,400 levels, whereas the S&P BSE Sensex tumbled over 700 points to trade around 59,081 levels. Broader markets, too, edged lower as Nifty Midcap 100 and Nifty Smallcap 100 indices lowered over 1 percent each. Volatility gauge, India VIX, meanwhile, climbed over 7 percent. Read more

CLOSING BELL: Sensex fell 542 points to close at 59,806 level, while Nifty50 ended at 17,590, dropping 165 points

CLOSING BELL: Sensex fell 542 points to close at 59,806 level, while Nifty50 ended at 17,590, dropping 165 points

Thursday, March 9, 2023

CLOSING BELL: Indian equity markets ended lower today(9 March 2023) as investors adjusted their positions amid the weekly F&O expiry. The S&P BSE Sensex fell 542 points, or 0.9 percent, to close at 59,806 level, while the Nifty50 ended at 17,590, dropping 165 points or 0.93 percent. M&M (down 3 percent), RIL (down over 2 percent), Bajaj Finserv, ICICI Bank, Maruti Suzuki, Tata Motors, Tech M, Bajaj Finance, TCS, Kotak Bank, ITC, Titan, and SBI were the top Sensex laggards. On the Nifty, Adani Enterprises (down 5 percent), SBI Life, Adani Ports, and Eicher Motors were the additional draggers. Read more

MARKET UPDATE: Sensex fell 40-odd points to 60,306 while Nifty50 remained unchanged at 17,754

MARKET UPDATE: Sensex fell 40-odd points to 60,306 while Nifty50 remained unchanged at 17,754

Thursday, March 9, 2023

Opening Bell: The Indian key benchmark indices started today's (9 March 2023) session flat amid muted global cues and concerns of a more considerable rate hike by the US Fed next week. The BSE Sensex fell 40-odd points to 60,306, and the NSE Nifty50 remained unchanged at 17,754 Tata Steel, Bharti Airtel, L&T, Axis Bank, HCL Tech, and Tata Motors led gains on the Sensex, rising up to 1.8 percent. At the same time, Hindalco and JSW Steel were the additional winners on the Nifty. Read more

MARKET UPDATE: Sensex lowered over 250 points to trade around below 60,000-mark while Nifty50 fell over 50 points to trade below 17,650 levels

MARKET UPDATE: Sensex lowered over 250 points to trade around below 60,000-mark while Nifty50 fell over 50 points to trade below 17,650 levels

Wednesday, March 8, 2023

Opening Bell: Indian markets were weighed down by weak global cues in today's( 8 March 2023) trading session. Key indices Nifty50 fell over 50 points to trade below 17,650 levels, whereas the S&P BSE Sensex lowered over 250 points to trade around below the 60,000 mark. Broader markets, too, were under the bearish spell as Nifty Midcap 100 and Nifty Smallcap 100 indices declined up to 0.5 percent. Volatility gauge, India VIX, meanwhile, climbed over 3 percent.

NSE and BSE will be shut on March 7 for Holi

NSE and BSE will be shut on March 7 for Holi

Tuesday, March 7, 2023

On account of the Holi Festival, officially, Both the exchanges NSE and BSE will be shut on March 7. There was uncertainty about the holiday as to how India marks the festival, with some parts of the country celebrating it on March 7, while the rest do it on March 8. Recently, Anmi (Association of National Exchanges Members of India), a leading stock brokers association, has requested the government, Sebi, and exchanges to change the holiday date to March 8. Read more

MARKET UPDATE: Sensex advanced over 550 points to claim day's high of 60,390 levels while Nifty50 climbed over 150 points to hit day's high of 17,765 levels

MARKET UPDATE: Sensex advanced over 550 points to claim day's high of 60,390 levels while Nifty50 climbed over 150 points to hit day's high of 17,765 levels

Monday, March 6, 2023

Indian markets extended gains in today's( 6 March 023) intra-day trade, supported by gains across index-heavyweights like HDFC Twins, Asian Paints, and Tata Consultancy Services. Key indices Nifty50 climbed over 150 points to hit the day's high of 17,765 levels, whereas the S&P BSE Sensex advanced through 550 points to claim the day's high of 60,390 levels. Read more

MARKET UPDATE: Sensex advanced over 500 points to trade around 59,454 levels while Nifty50 climbed over 100 points to trade above 17,450 levels

MARKET UPDATE: Sensex advanced over 500 points to trade around 59,454 levels while Nifty50 climbed over 100 points to trade above 17,450 levels

Friday, March 3, 2023

Strong global mood propelled Indian markets higher in today's( trade), led by gains across index-heavyweights like SBI, Reliance Industries, NTPC, HCL Technologies, and Bharti Airtel, among others. Key indices Nifty50 climbed over 100 points to trade above 17,450 levels, whereas the S&P BSE Sensex advanced over 500 points to trade around 59,454 levels. Read more

MARKET UPDATE: Sensex advanced 300 points to trade around 59,258 levels while Nifty50 climbed over 50 points to trade above 17,350 levels

MARKET UPDATE: Sensex advanced 300 points to trade around 59,258 levels while Nifty50 climbed over 50 points to trade above 17,350 levels

Wednesday, March 1, 2023

Opening Bell: Indian markets edged higher in today's( 1 March 2023) trade, amid mixed global cues. Key indices Nifty50 climbed over 50 points to trade above 17,350 levels, whereas the S&P BSE Sensex advanced 300 points to trade around 59,258 levels. Read more

MARKET UPDATE: Sensex traded flat around 59,246 levels while Nifty50 flat below 17,400 levels

MARKET UPDATE: Sensex traded flat around 59,246 levels while Nifty50 flat below 17,400 levels

Tuesday, February 28, 2023

Opening Bell: Indian markets opened flat in today's ( 28 February 2023) trading session, amid firm global cues. Key indices Nifty50 were flat below 17,400 levels, whereas the S&P BSE Sensex traded flat around 59,246 levels. Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices gained up to 0.3 percent. Read more

MARKET UPDATE: Sensex lowered over 300 points to trade around 59,151 levels while Nifty50 declined over 50 points to trade below 17,400 levels

MARKET UPDATE: Sensex lowered over 300 points to trade around 59,151 levels while Nifty50 declined over 50 points to trade below 17,400 levels

Monday, February 27, 2023

Indian markets edged lower in today's(27 February 2023) intra-day trading session, amid subdued global cues. Key indices Nifty50 declined over 50 points to trade below 17,400 levels, whereas the S&P BSE Sensex lowered over 300 points to trade around 59,151 levels. Broader markets, too, inched lower as Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 0.4 percent. Read more

MARKET UPDATE: Sensex declined over 50 points to trade around 59,687 levels while Nifty50 started flat below 17,550 levels

MARKET UPDATE: Sensex declined over 50 points to trade around 59,687 levels while Nifty50 started flat below 17,550 levels

Thursday, February 23, 2023

Opening Bell: Indian markets opened flat in today's(23 February 2023) trade, amid mixed global cues. While the benchmark index Nifty50 started flat below 17,550 levels, the S&P BSE Sensex declined over 50 points to trade around 59,687. Broader markets, meanwhile, were mixed in the trade as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. Read more

MARKET UPDATE: Sensex declined over 300 points to trade around 60,358 levels while Nifty50 nosedived over 50 points to trade below 17,750 levels

MARKET UPDATE: Sensex declined over 300 points to trade around 60,358 levels while Nifty50 nosedived over 50 points to trade below 17,750 levels

Wednesday, February 22, 2023

Opening Bell: Weak global mood propelled Indian markets to start lower in today's( 22 February 2023) trade. While the benchmark index Nifty50 nosedived over 50 points to trade below 17,750 levels, the S&P BSE Sensex declined over 300 points to trade around 60,358 levels. Broader markets, too, were subdued in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices slumped up to 0.3 percent. The volatility index, India VIX, meanwhile, climbed over 3 percent. Read more

MARKET UPDATE: Sensex advanced over 50 points to trade around 60,769 levels while Nifty50 climbed over 30 points to trade above 17,850 levels

MARKET UPDATE: Sensex advanced over 50 points to trade around 60,769 levels while Nifty50 climbed over 30 points to trade above 17,850 levels

Tuesday, February 21, 2023

Opening Bell: Indian equity markets opened higher in today's ( 21 February 2023) trade, supported by gains across index heavyweights like Hindustan Unilever, Tata Consultancy Services, and Tech Mahindra, among others. Key indices Nifty50 climbed over 30 points to trade above 17,850 levels, whereas the S&P BSE Sensex advanced over 50 points to trade around 60,769 levels. Broader markets, too, as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.1 percent. Read more

MARKET UPDATE: Sensex advanced over 250 points to trade around 61,254 levels while Nifty50 climbed over 50 points to trade near 18,000 levels

MARKET UPDATE: Sensex advanced over 250 points to trade around 61,254 levels while Nifty50 climbed over 50 points to trade near 18,000 levels

Monday, February 20, 2023

Indian equity markets wiped off early losses and inched higher in today's (21 February 2023) intra-day trade, amid mixed global cues. Key indices Nifty50 climbed over 50 points to trade near 18,000 levels, whereas the S&P BSE Sensex advanced over 250 points to trade around 61,254 levels. Broader markets, meanwhile, were mixed Nifty MidCap 100 index outperformed Nifty SmallCap 100 index. Read more

MARKET UPDATE: Sensex dropped over 250 points to trade around 61,048 levels while the Nifty50 declined over 50 points to trade below 18,000 levels

MARKET UPDATE: Sensex dropped over 250 points to trade around 61,048 levels while the Nifty50 declined over 50 points to trade below 18,000 levels

Friday, February 17, 2023

Opening Bell: Indian markets opened lower in today's(17 February 2023) trade, as global sentiments turned negative on rate hike concerns. Key indices Nifty50 declined over 50 points to trade below 18,000 levels, whereas the S&P BSE Sensex dropped over 250 points to sell around 61,048 levels. Broader markets, too, fell in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.4 percent. Volatility gauge, India VIX, meanwhile, rose 1 percent. Read more

MARKET UPDATE: Sensex gained over 350 points to trade around 61,660 level while the Nifty50 advanced over 50 points to trade above 18,100 levels

MARKET UPDATE: Sensex gained over 350 points to trade around 61,660 level while the Nifty50 advanced over 50 points to trade above 18,100 levels

Thursday, February 16, 2023

Indian equity markets edged higher in today's ( 16 February 2023) intra-day trade, amid strong global sentiments. Key indices Nifty50 advanced over 50 points to trade above 18,100 levels, whereas the S&P BSE Sensex gained over 350 points to trade around 61,660 levels. Broader markets rose in tune as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed up to 0.6 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

MARKET UPDATE: Sensex advanced over 200 points to trade around 60,676 levels while the Nifty50 climbed over 50 points to trade above 17,800 levels

MARKET UPDATE: Sensex advanced over 200 points to trade around 60,676 levels while the Nifty50 climbed over 50 points to trade above 17,800 levels

Tuesday, February 14, 2023

Opening Bell: Indian markets opened higher in today's(14 February 2023) trade, amid improved global sentiment. Key indices Nifty50 climbed over 50 points to trade above 17,800 levels, whereas the S&P BSE Sensex advanced over 200 points to trade around 60,676 levels. Broader markets, however, exhibited mixed trends as Nifty MidCap 100 index outperformed Nifty SmallCap 100 index. Read more

MARKET UPDATE: Sensex advanced over 17 points to trade flat at 60,701 levels while the Nifty50 traded flat above 17,850 levels

MARKET UPDATE: Sensex advanced over 17 points to trade flat at 60,701 levels while the Nifty50 traded flat above 17,850 levels

Monday, February 13, 2023

Opening Bell: Indian markets opened flat in today's( 13 February 2023) trading session, ahead of the January inflation data. Key indices Nifty50 traded flat above 17,850 levels, whereas the S&P BSE Sensex advanced over 17 points to trade flat at 60,701 levels. Read more

MARKET UPDATE: Sensex fell 120 points to 60,545 and quickly turned flat while the Nifty50 slipped 26 points to 17,846

MARKET UPDATE: Sensex fell 120 points to 60,545 and quickly turned flat while the Nifty50 slipped 26 points to 17,846

Thursday, February 9, 2023

Indian Equity benchmark indices held nominal losses in today's (9 February) early trade following hawkish commentary from Fed officials in the US. The BSE Sensex fell 120 points to 60,545 and quickly turned flat, while the NSE Nifty50 slipped 26 points to 17,846. Bajaj Finance, L&T, TCS, Infosys, Asian Paints, Power Grid, HDFC Bank, Hindalco, and Tata Steel led gains across the two frontline indices. On the flip side, Adani Enterprises, Adani Ports, Maruti, Tech M, Tata Motors, M&M, Airtel, and Ultratech Cement dipped. Read more

MARKET UPDATE: Sensex flat at 60,508 levels while the Nifty50 traded flat above 17,750 levels

MARKET UPDATE: Sensex flat at 60,508 levels while the Nifty50 traded flat above 17,750 levels

Tuesday, February 7, 2023

Opening Bell: Indian equity markets opened flat in today's(7 February 2023) trade, amid mixed global cues. Benchmark indices Nifty50 traded flat above 17,750 levels, whereas the S&P BSE Sensex was flat at 60,508 levels. Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices gained up to 0.1 percent. Read more

MARKET UPDATE: Sensex declined over 150 points to trade around 60,676 levels while the Nifty50 cdropped over 50 points to trade below 17,800 levels

MARKET UPDATE: Sensex declined over 150 points to trade around 60,676 levels while the Nifty50 cdropped over 50 points to trade below 17,800 levels

Monday, February 6, 2023

Benchmark indices Nifty50 dropped over 50 points to trade below 17,800 levels, whereas the S&P BSE Sensex declined over 150 points to trade around 60,676 levels. Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed up to 0.3 percent. The volatility gauge, India VIX, on the other hand, jumped over 3 percent. Read more

MARKET UPDATE: Sensex advanced over 400 points to reclaim 60,000 level while the Nifty50 climbed over 100 points to trade above 17,700 levels

MARKET UPDATE: Sensex advanced over 400 points to reclaim 60,000 level while the Nifty50 climbed over 100 points to trade above 17,700 levels

Friday, February 3, 2023

Opening Bell: A pullback rally saw Indian markets open higher in today's( 3 February 2023) trade, amid mixed global cues. Benchmark indices Nifty50 climbed over 100 points to trade above 17,700 levels, whereas the S&P BSE Sensex advanced over 400 points to reclaim 60,000 levels. Read more

MARKET UPDATE: Sensex at 59,700 level, down 6 points while the Nifty50 at 17,590

MARKET UPDATE: Sensex at 59,700 level, down 6 points while the Nifty50 at 17,590

Thursday, February 2, 2023

Indian benchmark indices were volatile today(2 February 2023), after falling nearly 1 percent in opening deals, as news flow around Adani group weighed on the sentiment, while positive reaction to the Union Budget capped losses. The S&P BSE Sensex was quoting at 59,700 level, down 6 points, while the Nifty50 was at 17,590. UPL, Adani Enterprises, Adani Ports, HDFC Life, Apollo Hospitals, Bajaj Finance, ONGC, and HDFC were off lows, and are now down up to 5 percent. Read more

MARKET UPDATE: Sensex was up over 400 points to quote at 59,986 while the Nifty50 was hovering above the 17,800-mark

MARKET UPDATE: Sensex was up over 400 points to quote at 59,986 while the Nifty50 was hovering above the 17,800-mark

Wednesday, February 1, 2023

Indian equity markets were holding their gains ahead of the Union Budget presentation at 11 AM today(1 February 2023). The S&P BSE Sensex was up over 400 points, or 0.7 percent, to quote at 59,986. The Nifty50, meanwhile, was hovering above the 17,800 mark. Union Finance Minister Nirmala Sitharaman will present Budget 2023 in Parliament today, the last full Budget of the Modi government in its second term. This year's Budget holds much significance as the country is scheduled to have the next Lok Sabha election in April-May 2024. Read more

MARKET UPDATE: Sensex rose 100 odd points to eventually turn flat at 59,488 while the Nifty50 was around the 17, 630 mark

MARKET UPDATE: Sensex rose 100 odd points to eventually turn flat at 59,488 while the Nifty50 was around the 17, 630 mark

Tuesday, January 31, 2023

Opening Bell: Indian frontline indices started today's( 31 January 2023) trade on a flat note as investors looked forward to the pre-budget Economic Survey for 2023-24, which will be tabled in the Parliament later today. The BSE Sensex rose 100 odd points to eventually turn flat at 59,488, while the NSE Nifty index was around the 17, 630 mark. The survey is likely to peg the domestic GDP growth at 6-6.8 percent for 2023-24, according to a Reuters report. It could see growth at 6.5 percent for 2023-24 under the baseline scenario, which would be the slowest in three years. Read more

MARKET UPDATE: Sensex fell 590 points to quote at 58,741 level while the Nifty50 dropped 149 points to 17,455 levels

MARKET UPDATE: Sensex fell 590 points to quote at 58,741 level while the Nifty50 dropped 149 points to 17,455 levels

Monday, January 30, 2023

Opening Bell: The Indian benchmark indices started the week on a tepid note today(30 January 2023) as clouds over Adani group, amid its clash with US-based Hindenburg Research, weighed on sentiment. The S&P BSE Sensex fell 590 points to quote at 58,741 level, while the Nifty50 dropped 149 points to 17,455 levels. Both indices were down 0.99 percent. ICICI Bank, Axis Bank, L&T, HUL, HDFC, Tata Steel, JSW Steel, RIL, Power Grid, HDFC Bank, Hindalco, SBI Life, Apollo Hospitals, and Bharti Airtel were the top laggards on the Nifty50 index as they fell in the range of 1 percent to 2 percent. In the broader market, the BSE MidCap and SmallCap indices declined up to 0.34 percent. Meanwhile, among sectors, the Nifty Metal index was the top NSE gainer, up 1 percent; while the Nifty Oil and Gas index was the top NSE loser, down 4 percent. Read more

MARKET UPDATE: Sensex declined 600 points to the day's low of 59,543 while the Nifty50 slipped below 17,800 level, down 130 points

MARKET UPDATE: Sensex declined 600 points to the day's low of 59,543 while the Nifty50 slipped below 17,800 level, down 130 points

Friday, January 27, 2023

Indian equity markets extended weakness today(27 January 2023), after over a percent decline on Wednesday. The S&P BSE Sensex declined 600 points to the day's low of 59,543 in early deals dragged by Reliance, HDFC twins, and ICICI Bank. The NSE Nifty50 slipped below the 17,800 level, down 130 points. The BSE MidCap and SmallCap indices lost 0.6 percent and 0.9 percent in the broader markets, respectively. Read more

MARKET UPDATE: Sensex hovering around 60,825 levels down 153 points while the Nifty50 at 18,073, down 46 points

MARKET UPDATE: Sensex hovering around 60,825 levels down 153 points while the Nifty50 at 18,073, down 46 points

Wednesday, January 25, 2023

Opening Bell: Indian frontline indices started lower today(25 January 2023) as investors gear up for the monthly F&O expiry later today. The S&P BSE Sensex was hovering around 60,825 levels in early deals, down 153 points or 0.25 percent. The Nifty50, on the other hand, was at 18,073, down 46 points or 0.25 percent. Tata Motors, Maruti Suzuki, Cipla, Bajaj Auto, Hero MotoCorp, and M&M were the top 50-pack gainers, while Adani Enterprises, HCL Tech, Adani Ports, L&T, IndusInd Bank, Infosys, and Tech M remained top laggards. Read more

MARKET UPDATE: Sensex advanced over 300 points to quote at 61,251 levels while the Nifty50 topped the 18,200-mark, rising 80 points

MARKET UPDATE: Sensex advanced over 300 points to quote at 61,251 levels while the Nifty50 topped the 18,200-mark, rising 80 points

Tuesday, January 24, 2023

Indian equities started higher today(24 January 2023) as firm global sentiment swept the domestic markets. The S&P BSE Sensex advanced over 300 points, or 0.5 percent, to quote at 61,251 levels in early deals. The Nifty50, meanwhile, topped the 18,200 mark, rising 80 points or 0.5 percent. Tata Motors, ICICI Bank, Infosys, Tech M, HDFC Bank, IndusInd Bank, and Bajaj Finserv were the large-caps that lifted the frontline indices in early deals, even as Axis Bank, Bharti Airtel, HUL, Nestle India, and Sun Pharma tried to limit gains. In the broader markets, the BSE MidCap and SmallCap indices surged up to 0.2 percent. Read more

MARKET UPDATE: Sensex jumped over 250 points to trade around 60,871 levels while the Nifty50 advanced over 50 points to trade above 18,100 levels

MARKET UPDATE: Sensex jumped over 250 points to trade around 60,871 levels while the Nifty50 advanced over 50 points to trade above 18,100 levels

Monday, January 23, 2023

Opening Bell: Strong global mood, positive early Q3 results, and softening crude oil prices propelled Indian equity markets to start higher in today's( 23 January 2023) trade. Key indices Nifty50 advanced over 50 points to trade above 18,100 levels, whereas the S&P BSE Sensex jumped over 250 points to trade around 60,871 levels. Read more

MARKET UPDATE: Sensex dropped 90 points to trade around 60,767 levels while the Nifty50 was flat below 18,100 levels

MARKET UPDATE: Sensex dropped 90 points to trade around 60,767 levels while the Nifty50 was flat below 18,100 levels

Friday, January 20, 2023

Indian equity markets were flat in today's(20 January 2023) intra-day trade amid mixed global cues. Key indices Nifty50 was flat below 18,100 levels, whereas the S&P BSE Sensex dropped 90 points to trade around 60,767 levels. Broader markets, too, were tepid in the trade as Nifty MidCap 100 and Nifty SmallCap 100 indices lowered up to 0.05 percent. Read more

MARKET UPDATE: Sensex extended fall to tumble 250 points to quote at 60,800 while the Nifty50 slipped below the 18,100

MARKET UPDATE: Sensex extended fall to tumble 250 points to quote at 60,800 while the Nifty50 slipped below the 18,100

Thursday, January 19, 2023

Opening bell: Indian equity markets began today's( 19 January 2023) trade on a weaker note as global markets remained on the back foot. After starting over 100 points lower, the S&P BSE Sensex extended its fall to tumble 250 points to quote at 60,800. The Nifty50, meanwhile, slipped below the 18,100 level dragged by Adani Enterprises, Hindalco, Kotak Bank, Titan Company, Bajaj Finserv, Ultratech Cement, Adani Ports, and Eicher Motors. Read more

MARKET UPDATE: Sensex at 60,708 levels up 52 points, while the Nifty50 at 18,076 levels

MARKET UPDATE: Sensex at 60,708 levels up 52 points, while the Nifty50 at 18,076 levels

Wednesday, January 18, 2023

Opening bell: Indian benchmark indices started to trade on a flat-to-positive note today(18 January 2023) amid steady global cues. The S&P BSE Sensex was quoting at 60,708 levels in early deals, up 52 points or 0.09 percent. The Nifty50, meanwhile, was at 18,076 levels. SBI Life, Hindalco, Tata Steel, HCL Tech, UPL, Grasim, and ONGC were the top large-cap gainers, rising in the range of 0.6 percent to 1.7 percent. HDFC Life, M&M, Cipla, Tata Motors, Ultratech Cement, ICICI Bank, and Reliance Industries, meanwhile, were the top laggards, down up to 0.7 percent. Read more

MARKET UPDATE: Sensex advanced over 400 points, to quote at 60,500 levels, while the Nifty50stayed reclaimed the 18,000-mark

MARKET UPDATE: Sensex advanced over 400 points, to quote at 60,500 levels, while the Nifty50stayed reclaimed the 18,000-mark

Tuesday, January 17, 2023

Indian equity indices, which began today's(17 January 2023) trade on a muted note, moved quickly higher. The S&P BSE Sensex advanced over 400 points, after a flat start, to quote at 60,500 levels in mid-morning deals, while the Nifty50 stayed reclaimed the 18,000 mark. HUL, HCL Tech, L&T Reliance Industries, Tech M, and NTPC were the notable gainers on the 30-pack index as they gained between 0.3 percent and 2 percent. On the contrary, Tata Steel, Bajaj Finance, IndusInd Bank, Titan, M&M, Sun Pharma, and Axis Bank fell up to 0.85 percent, capping the upside. Read more

MARKET UPDATE: Sensex quoted near 60,380 levels, up 120 points , while the Nifty50 slipped below the 18,000-mark and was at 17,965

MARKET UPDATE: Sensex quoted near 60,380 levels, up 120 points , while the Nifty50 slipped below the 18,000-mark and was at 17,965

Monday, January 16, 2023

Indian equity markets started higher today(16 January 2023), lifted by HDFC Bank, Bajaj twins, IndusInd Bank, Ultratech Cement, Kotak Bank, Infosys, and HCL Tech. On the downside, Tata Steel, NTPC, Tata Motors, M&M, Power Grid, and Nestle weighed on the bourses. The S&P BSE Sensex, which advanced 295 points in early deals, was off highs and quoted near 60,380 levels, up 120 points or 0.2 percent. The Nifty50, too, slipped below the 18,000 mark and was at 17,965. Read more

MARKET UPDATE: Sensex hovering around 59,637 levels, down 321 points, while the Nifty50 below 17,800 levels

MARKET UPDATE: Sensex hovering around 59,637 levels, down 321 points, while the Nifty50 below 17,800 levels

Friday, January 13, 2023

Indian Equity markets, which started weak today(13 January 2023) as sentiment across Asia remained unenthusiastic this morning, extended fall within minutes. The S&P BSE Sensex opened 100 points lower but is hovering around 59,637 levels, down 321 points or 0.5 percent. The Nifty50, meanwhile, was below 17,800 levels. The benchmarks were bogged down by HCL Tech shares which fell 2 percent. It reported a net profit of Rs 4,096 crore for Q3FY23, an increase of 18.8 percent year-on-year. However, the company brought down its higher end-of-revenue guidance for the 2023 fiscal year. Read more

MARKET UPDATE: Sensex gains 134 points, trsding at 60,239, while the Nifty50 atop 17,900 levels

MARKET UPDATE: Sensex gains 134 points, trsding at 60,239, while the Nifty50 atop 17,900 levels

Thursday, January 12, 2023

Opening bell: Indian benchmark indices started in the green today (12 January 2023) amid supportive global cues. The S&P BSE Sensex was trading with a gain of 134 points, or 0.2 percent, at 60,239 in early deals, while the Nifty50 was atop 17,900 levels. HCL Tech, Titan Company, Wipro, Nestle India, L&T, Maruti Suzuki, and Tech Mahindra led the Sensex gainers, rising between 0.5 percent and 1.7 percent. On the flip side, Asian Paints, Axis Bank, Tata Steel, ICICI Bank, Kotak Bank, and SBI fell the most, down to 1.2 percent. The BSE MidCap and Smallcap indices increased to 0.2 percent in the broader markets. Read more

MARKET UPDATE: Sensex lowered over 100 points to trade below 60,000 levels, while the Nifty50 declined over 30 points to trade below 17,900 levels

MARKET UPDATE: Sensex lowered over 100 points to trade below 60,000 levels, while the Nifty50 declined over 30 points to trade below 17,900 levels

Wednesday, January 11, 2023

Opening bell: Indian markets opened lower in today's(11 January 2023) trade amid tepid foreign flows and rising oil prices. Key indices Nifty50 declined over 30 points to trade below 17,900 levels, whereas the S&P BSE Sensex lowered over 100 points to trade below 60,000 levels. Broader markets, also, were mixed as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. Read more

MARKET UPDATE: Sensex at 60,484 levels down 263 points, while the Nifty50 hovering around 18,028, down 71 points

MARKET UPDATE: Sensex at 60,484 levels down 263 points, while the Nifty50 hovering around 18,028, down 71 points

Tuesday, January 10, 2023

Opening bell: Equity markets in India began on shaky ground today(10 January 2023) as stock-specific action, amid December quarter results, and mixed global trends swayed sentiment. The S&P BSE Sensex was at 60,484 levels in early deals, down 263 points, while the Nifty50 was hovering around 18,028, down 71 points. Both benchmarks were trading 0.4 percent lower. In the broader market, the BSE MidCap and SmallCap indices were flat with negative bias. Read more

MARKET UPDATE: Sensex advanced over 600 points to trade at 60,542 levels, while the Nifty50 rose over 100 points to trade above 18,000 levels

MARKET UPDATE: Sensex advanced over 600 points to trade at 60,542 levels, while the Nifty50 rose over 100 points to trade above 18,000 levels

Monday, January 9, 2023

Indian markets extended gains in today's(9 January 2023) intra-day trade amid a solid global mood. Key indices Nifty50 rose over 100 points to trade above 18,000 levels, whereas the S&P BSE Sensex advanced 600 points to trade at 60,542 levels. Broader markets, too, edged higher in the trade as Nifty MidCap 100 and Nifty SmallCap 100 indices increased up to 1 percent. Read more

MARKET UPDATE: Sensex advanced over 150 points to hit day's high of 60,537 levels, while the Nifty50 gained over 30 points to trade above 18,000 levels

MARKET UPDATE: Sensex advanced over 150 points to hit day's high of 60,537 levels, while the Nifty50 gained over 30 points to trade above 18,000 levels

Friday, January 6, 2023

Indian markets reversed early losses and edged higher in today's(6 January 2023) intra-day trade, supported by gains in index heavyweights like Reliance Industries, ITC, Hindustan Unilever, Mahindra & Mahindra, among many others. While the benchmark index Nifty50 gained over 30 points to trade above 18,000 levels, the S&P BSE Sensex advanced over 150 points to hit the day's high of 60,537. Read more

MARKET UPDATE: Sensex down over 60 points at 60,590 levels, while the Nifty50 was up 5 points at 18,048 level

MARKET UPDATE: Sensex down over 60 points at 60,590 levels, while the Nifty50 was up 5 points at 18,048 level

Thursday, January 5, 2023

Indian benchmark indices, which started with decent gains on Thursday, turned volatile as financial and IT stocks weighed while FMCG stocks lent support. The S&P BSE Sensex was down over 60 points at 60,590 levels after hitting an intra-day high of 60,877. The Nifty50 index, meanwhile, was up 5 points at the 18,048 level. Bajaj Finance was the top laggard on the Sensex index, down over 8 percent, after the consumer finance reported that assets under management (AUM) grew by 27 percent year-on-year (YoY), lower than market expectations, to Rs 2.30 trillion as of December 31, 2022. Read more

MARKET UPDATE: Sensex quoted at 61,100, down 194 points, while the Nifty50 dipped 55 points to trade at 18,177

MARKET UPDATE: Sensex quoted at 61,100, down 194 points, while the Nifty50 dipped 55 points to trade at 18,177

Wednesday, January 4, 2023

Indian equities started flat, but turned sharply lower, in today's ( 4 January 2023) early deals as investors await the minutes of the US Fed's latest policy meeting due later today. The S&P BSE Sensex quoted at 61,100, down 194 points or 0.32 percent, while the Nifty50 dipped 55 points, or 0.3 percent, to trade at 18,177. In the broader markets, the BSE MidCap and SmallCap indices fell up to 0.5 percent. Sector-wise, all but the pharma index was down in the dump. The Nifty Metal and Realty indices lost over 1 percent each. Read more

Granules India gains after collaboration with Greenko ZeroC

Granules India gains after collaboration with Greenko ZeroC

Tuesday, January 3, 2023

Granules India, a Hyderabad-based pharmaceutical company, gained 2.61% to Rs 328.70 on Tuesday, as it entered into a strategic partnership with Greenko ZeroC to collaborate for green molecule solutions and its wider applications in pharmaceuticals to build its position in sustainability and circular economy initiatives. Granules India and Greenko ZeroC will develop and promote a state-of-the-art integrated Green Pharmaceutical Zone (GPZ) with the first collaboration at Kakinada in Andhra Pradesh, the company said in a filing to the exchanges on Tuesday."Granules will build a green field facility based on sustainability principles for large-scale manufacturing of key starting materials (KSMs), Intermediates, APIs, and fermentation-based products. The facility spread across 100 acres, will be commissioned in a phase-wise manner. The facility would be spread across 100 acres for the project with an estimated cost of approximately Rs 2,000 crore over five years. Read more

MARKET UPDATE: Sensex was at 61,177, up 9 points, while the Nifty50 tested 18,200 level

MARKET UPDATE: Sensex was at 61,177, up 9 points, while the Nifty50 tested 18,200 level

Tuesday, January 3, 2023

Indian benchmark indices erased early losses and were flat in today's(3 January 2023) intra-day deals. The S&P BSE Sensex was at 61,177, up 9 points, while the Nifty50 tested the 18,200 level. HDFC Life, Bajaj Finance, Axis Bank, Cipla, Tata Motors, Divis Labs, and SBI were the top Nifty50 gainers as they rose up to 3 percent. On the flip side, ONGC, JSW Steel, Tata Steel, Reliance Industries, ITC, and Bharti Airtel, which fell from 0.4 percent to 1 percent, weighed on the index. Read more

CLOSING BELL: Sensex closed 327 points higher at 61,168 and Nifty 50 closed at 18,197, up 92 points

CLOSING BELL: Sensex closed 327 points higher at 61,168 and Nifty 50 closed at 18,197, up 92 points

Monday, January 2, 2023

Closing Bell: For domestic equities, the first trading session of 2023 turned out positive as the frontline indices closed with firm gains today(2 January 2023). The BSE Sensex swung to a low of 60,765 during the day before gaining strength to close 327 points higher at 61,168. Though this was off the day's high of 61,223. The NSE Nifty touched a low of 18,086 but bounced back to close at 18,197, up 92 points. Overall, the trade was undecisive throughout the session due to a lack of global triggers with most markets being closed on account of the new year holiday. Read more

MARKET UPDATE: Sensex was up over 100 points at 60,982 levels, while the Nifty50 was near 18,150, up 42 points

MARKET UPDATE: Sensex was up over 100 points at 60,982 levels, while the Nifty50 was near 18,150, up 42 points

Monday, January 2, 2023

Indian benchmark indices, which started on a quiet note today(02 January 2023) amid thin global trade, were volatile in the trade as selling in financial services, IT, FMCG, and pharma stocks weighed, while metal stocks lent support. The S&P BSE Sensex was up over 100 points at 60,982 levels, while the Nifty50 was near 18,150, up 42 points. In the broader markets, the BSE MidCap and Smallcap indices gained 0.07 percent and 0.12 percent, respectively. The volatility index, India VIX, advanced nearly 4 percent. Read more

CLOSING BELL: Sensex ended the day with a loss of 293 points at 60,841 and the Nifty 50 settled 86 points lower on the last trading day of the year

CLOSING BELL: Sensex ended the day with a loss of 293 points at 60,841 and the Nifty 50 settled 86 points lower on the last trading day of the year

Saturday, December 31, 2022

Closing bell: After starting on an optimistic note, given the positive mood in global markets, the S&P BSE Sensex rallied to a high of 61,393 in today’s( 30 December 2922) morning trades. The benchmark index, after that, pared gains and slipped into the negative zone as the day progressed owing to weakness in index heavyweights ICICI Bank and HDFC twins. A heavy bout of selling in late trades saw the BSE index plunge to a low of 60,744 – 293 points from the day’s high. The Sensex finally ended the day with a loss of 293 points at 60,841. Despite the day’s loss, the BSE benchmark managed to gain 1.7 percent this week and also signed off the year 2022 on a winning note – 4.4 percent higher. Read more

MARKET UPDATE: Sensex rose over 150 points to trade at 61,292 levels and the Nifty50 climbed over 50 points to trade above 18,200 levels

MARKET UPDATE: Sensex rose over 150 points to trade at 61,292 levels and the Nifty50 climbed over 50 points to trade above 18,200 levels

Friday, December 30, 2022

Opening Bell: Indian markets opened higher in today's(30 December 2022) trade amid strong global cues. Key indices Nifty50 climbed over 50 points to trade above 18,200 levels, whereas the S&P BSE Sensex rose over 150 points to trade at 61,292 levels. Broader markets, too, inched higher as Nifty MidCap 100 and Nifty SmallCap 100 indices advanced up to 1 percent. Read more

CLOSING BELL: Sensex ended with a gain of 224 points at 61,134 and the Nifty 50 settled 69 points higher at 18,191

CLOSING BELL: Sensex ended with a gain of 224 points at 61,134 and the Nifty 50 settled 69 points higher at 18,191

Thursday, December 29, 2022

After languishing in the negative zone for the major part of today's(29 December 2022) trading sessions, the key benchmark indices rebounded and ended near the highs of the day led by gains in select banks and metal shares. The S&P BSE Sensex slipped to a low of 60,479 in morning deals, mirroring the weak cues from global markets. However, renewed buying interest, coupled with short-covering owing to the monthly F&O expiry saw the BSE benchmark rally to a high of 61,211 in late deals – up 732 points from the day’s low. The Sensex finally ended with a gain of 224 points at 61,134. The NSE Nifty 50 surged to a high of 18,211, from a low of 17,993, and eventually settled 69 points higher at 18,191. Read more

MARKET UPDATE: Sensex dropped over 300 points to trade at 60,608 levels and the Nifty50 declined over 50 points to trade below 18,050 levels

MARKET UPDATE: Sensex dropped over 300 points to trade at 60,608 levels and the Nifty50 declined over 50 points to trade below 18,050 levels

Thursday, December 29, 2022

Opening Bell: Indian markets opened lower in today's(29 December 2022) trade amid weak global cues. Key indices Nifty50 declined over 50 points to trade below 18,050 levels, whereas the S&P BSE Sensex dropped over 300 points to trade at 60,608 levels. Broader markets, too, lost in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 0.4 percent. Volatility gauge, India VIX, climbed over 1 percent. Sector-wise barring the Nifty Pharma index, which held marginal gains in a weak market, all sectors plunged into the sea of red. Read more

MARKET UPDATE: BSE benchmark hit a high of 60,834 – up 1,080 points from the day’s low and the Nifty50 rallied 310 points in intra-day trades, and settled with a gain of 208 points, reclaiming the 18,000-mark

Monday, December 26, 2022

After four days of decline, the key benchmark indices bounced back in trade today led by financial and energy shares. The S&P BSE Sensex dipped to a low of 59,754 in opening deals, but soon rebounded and marched higher for most of the trading session. The BSE benchmark hit a high of 60,834 – up 1,080 points from the day’s low. Despite trimming some gains towards the fag end of the day, the Sensex finished 721 points higher at 60,566. In the process, the Sensex snapped its four-day losing streak, wherein the BSE benchmark had shed 1,961 points. The NSE Nifty 50 rallied 310 points in intra-day trades and eventually settled with a gain of 208 points, thus reclaiming the 18,000 mark. Read more

MARKET UPDATE: Sensex lowered over 300 points to trade at 60,497 levels and the Nifty50 declined over 50 points to trade below 18,050 levels

MARKET UPDATE: Sensex lowered over 300 points to trade at 60,497 levels and the Nifty50 declined over 50 points to trade below 18,050 levels

Friday, December 23, 2022

Opening Bell: Indian markets opened lower today(23 December 2022) amid weak global cues. Key indices Nifty50 declined over 50 points to trade below 18,050 levels, whereas the S&P BSE Sensex lowered over 300 points to trade at 60,497 levels. Broader markets, too, followed the trend as Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 1 percent. Volatility gauge, India VIX, meanwhile, climbed over 3 percent. Read more

MARKET UPDATE: Sensex was up 150 points at 61,200 and the Nifty50 index was below 18,250

MARKET UPDATE: Sensex was up 150 points at 61,200 and the Nifty50 index was below 18,250

Thursday, December 22, 2022

Bulls and bears were fighting on Dalal Street today (22 December 2022) as fears of a global slowdown amid Covid-19 fears in China and likely recession in the US and Europe weighed on cyclical sectors. Defensives like pharma and IT, however, lent support. sector-wise Autos, financials, metals, and realty stocks led the losses with nearly 1 percent cut each on their respective sectoral indices. The S&P BSE Sensex was up 150 points at 61,200, while the Nifty50 index was below 18,250. Read more

MARKET UPDATE: Sensex advanced over 200 points to trade at 61,929 levels and the Nifty50 climbed over 50 points to trade above 18,450 levels

MARKET UPDATE: Sensex advanced over 200 points to trade at 61,929 levels and the Nifty50 climbed over 50 points to trade above 18,450 levels

Wednesday, December 21, 2022

Opening Bell: Indian markets opened higher in today's(21 December 2022) trade amid mixed global cues. Key indices Nifty50 climbed over 50 points to trade above 18,450 levels, whereas the S&P BSE Sensex advanced over 200 points to trade at 61,929 levels. Broader markets also climbed up in trade as Nifty MidCap 100 and Nifty SmallCap 100 indices rose up to 0.5 percent each. Volatility gauge, India VIX, meanwhile, slipped over 1 percent. Read more

MARKET UPDATE: Sensex lowered over 300 points to trade at 61,502 levels and the Nifty50 declined over 50 points to trade below 18,350 levels

MARKET UPDATE: Sensex lowered over 300 points to trade at 61,502 levels and the Nifty50 declined over 50 points to trade below 18,350 levels

Tuesday, December 20, 2022

Opening Bell: Indian markets opened lower in today's( 20 December 2022) trade amid weak global cues. Key indices Nifty50 declined over 50 points to trade below 18,350 levels, whereas the S&P BSE Sensex lowered over 300 points to trade at 61,502 levels. Broader markets, also, edged lower as Nifty MidCap 100 and Nifty SmallCap 100 indices fell up to 0.2 percent. Volatility gauge, India VIX, meanwhile, climbed over 1 percent. sector wise all sectors were in red, with Nifty IT and Nifty PSU Bank indices declining the most, up to 0.6 percent. Read more

MARKET UPDATE: Sensex advanced over 250 points to trade at 61,592 levels and the Nifty50 climbed over 50 points to trade above 18,300 level

MARKET UPDATE: Sensex advanced over 250 points to trade at 61,592 levels and the Nifty50 climbed over 50 points to trade above 18,300 level

Monday, December 19, 2022

Indian markets inched higher in today's( 19 December 2022) intra-day trade, supported by gains across index-heavyweights like ITC, Hindustan Unilever, Bajaj Twins, Maruti Suzuki, and Bharti Airtel. Key indices Nifty50 climbed over 50 points to trade above 18,300 levels, whereas the S&P BSE Sensex advanced over 250 points to trade at 61,592 levels. Broader markets were mixed as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. Sectorwise, Nifty PSU Bank, Nifty IT, and Nifty Pharma indices were muted in trade. However, Nifty FMCG and Nifty Media indices gained up to 0.8 percent. Read more

MARKET UPDATE: Sensex lowered over 300 points to trade at 61,480 levels and the Nifty50 declined over 50 points to trade below 18,350 levels

MARKET UPDATE: Sensex lowered over 300 points to trade at 61,480 levels and the Nifty50 declined over 50 points to trade below 18,350 levels

Friday, December 16, 2022

Opening Bell: Indian markets opened lower in today's (16 December 2022) trade amid weak global cues and subdued foreign flows. Key indices Nifty50 declined over 50 points to trade below 18,350 levels, whereas the S&P BSE Sensex lowered over 300 points to trade at 61,480 levels. Broader markets, too, followed the Nifty MidCap 100 and Nifty SmallCap 100 indices and fell up to 0.5 percent. Volatility gauge, India VIX, meanwhile, shot over 1 percent. Sectorwise all sectors were in the sea of red, with the Nifty IT index declining over 1 percent in trade. Among individual stocks, shares of Reliance Industries gained over 1 percent after the conglomerate's retail arm launched the FMCG brand 'Independence' in Gujarat. In addition, shares of Asian Paints declined over 1 percent after prices of Brent Crude climbed to $82 per barrel.

MARKET UPDATE: Sensex fell 50 points to 62,364, and the Niftyslipped 11 points to 18,550

MARKET UPDATE: Sensex fell 50 points to 62,364, and the Niftyslipped 11 points to 18,550

Thursday, December 8, 2022

Opening bell: Indian equity markets opened nearly flat with a fractional downtick today(8 December 2022), tracking mixed global cues. The BSE Sensex fell 50 points to 62,364, and the NSE Nifty50 slipped 11 points to 18,550. Kotak Bank, Power Grid, Bharti Airtel, and TCS were the top laggards on the Sensex, down up to 1 percent, while SBI Life and HDFC Life were the additional top losers on the Nifty. On the downside, IndusInd Bank, ICICI Bank, L&T, Bajaj Finserv, M&M, Tata Steel, Eicher Motors, and Adani Ports were the leading gainers across the two indices. Read more

MARKET UPDATE: Sensex fell 30 points to 62,592, and the Nifty slipped 12 points to 18,630

MARKET UPDATE: Sensex fell 30 points to 62,592, and the Nifty slipped 12 points to 18,630

Wednesday, December 7, 2022

Opening bell: Equity markets in India opened nearly unchanged today (7 December 2022) as investors remained cautious ahead of the Reserve Bank of India's monetary policy decision. The BSE Sensex fell 30 points to 62,592, and the NSE Nifty50 slipped 12 points to 18,630. HCL Tech, Wipro, NTPC, TCS, Tech M, and Kotak Bank were the top laggards on the Sensex, down up to 0.7 percent, while ONGC was the top Nifty loser. On the downside, Asian Paints, L&T, ICICI Bank, SBI, Ultratech Cement, Sun Pharma, Cipla, and BPCL were the top gainers across the two indices. The broader markets, meanwhile, outweighed the frontline indices. The BSE MidCap and SmallCap indices rose up to 0.2 percent.

MARKET UPDATE: Sensex fell 300 points to 62,542, and the Nifty slipped 80 points to 18,619

MARKET UPDATE: Sensex fell 300 points to 62,542, and the Nifty slipped 80 points to 18,619

Tuesday, December 6, 2022

The Indian frontline indices held early losses today(6 December 2022) after global stocks declined as a hotter-than-expected US services activity raised bets for continued rate hikes by the Federal Reserve. The BSE Sensex fell 300 points to 62,542, and the NSE Nifty50 slipped 80 points to 18,619. The broader markets, too, opened weakly. The BSE MidCap was down 0.16 percent, and the SmallCap index was flat. Sectorwise, Nifty IT slipped the most with a loss of 0.9 percent, followed by the metal index, while the PSB pocket was the sole winner, up 0.8 percent. Among stocks, IRB Infrastructure Developers rose over 3 percent after its yearly toll collections came 39 percent higher at Rs 366 crore.

MARKET UPDATE: Sensex fell 200 points to 62,643, and the Nifty slipped 60 points to 18,630

MARKET UPDATE: Sensex fell 200 points to 62,643, and the Nifty slipped 60 points to 18,630

Monday, December 5, 2022

The Indian equities traded with nominal losses today( 5 December 2022), underperforming other Asian markets that gained on hopes of ease in China's Covid-19 restrictions. The BSE Sensex fell 200 points to 62,643, and the NSE Nifty50 slipped 60 points to 18,630. HDFC, HUL, Asian Paints, Nestle, Power Grid, M&M, and TCS were the top laggards on the Sensex, down up to 1 percent, while SBI Life and Hero Moto were the additional Nifty losers. On the downside, Tata Steel, IndusInd Bank, SBI, ICICI Bank, NTPC, Hindalco, JSW Steel, and UPL were the top outperformers across the two frontline indices. Read more

MARKET UPDATE: Sensex fell 200 points to 62,934, and the NSE Nifty50 slipped 95 points to 18,716

MARKET UPDATE: Sensex fell 200 points to 62,934, and the NSE Nifty50 slipped 95 points to 18,716

Friday, December 2, 2022

The Indian equities held losses in today's(December 2022) trade following a weak open in line with falling global markets. The BSE Sensex fell 200 points to 62,934, and the NSE Nifty50 slipped 95 points to 18,716. Maruti, Ultratech Cement, HDFC, Power Grid, TCS, ICICI Bank, and HUL led losses on the Sensex, down up to 1.6 percent, while Eicher Motors and Divi's Labs were the top additional drags on the Nifty, up to 2 percent lower. On the flip side, IndusInd Bank, RIL, ONGC, Hindalco, BPCL, Tata Steel, and Dr. Reddy were the handful of gainers across the two benchmark indices. Read more

MARKET UPDATE: Sensex rose over 350 points to 63,500, and the Nifty gained nearly 100 points to 18,850

MARKET UPDATE: Sensex rose over 350 points to 63,500, and the Nifty gained nearly 100 points to 18,850

Thursday, December 1, 2022

Opening bell: Positive start was observed in Dalal Street today(1 December 2022) led by upbeat global market sentiment following US Fed Chair Powell's remarks that the central bank could begin undertaking smaller rate hikes from December. The BSE Sensex rose over 350 points to 63,500, and the NSE Nifty50 gained nearly 100 points to 18,850. The IT pack led gains on the Sensex with Tech M, Infosys, Wipro, HCL Tech, and TCS rising 1-2 percent. On the downside, Asian Paints, HUL, Maruti, and M&M were the handful of losers, down up to 0.4 percent. Read more

MARKET UPDATE: Sensex added 26 points to quote at 62,708 levels and Nifty started around 18,640 levels, up 22 points

MARKET UPDATE: Sensex added 26 points to quote at 62,708 levels and Nifty started around 18,640 levels, up 22 points

Wednesday, November 30, 2022

Opening bell: Today(30 November 2022) Indian equity markets sow a muted start led by a quiet global mood. The S&P BSE Sensex added 26 points to quote at 62,708 levels in early deals, while the Nifty50 index started around 18,640 levels, up 22 points. In the broader markets, the BSE MidCap and SmallCap indices gained 0.32 percent, and 0.4 percent, respectively. sector-wise, all but the Nifty IT was in green. While the index slipped 0.12 percent, the Nifty Metal index rose 0.7 percent, followed by the Nifty Bank, Auto, Financial Services, and Pharma indices, all up 0.4 percent each. Read more

MARKET UPDATE: Sensex rose over 200 points to its new high for a fourth day at 62,724 and Nifty gained 70 points to 18,631, its fresh high for a second session

MARKET UPDATE: Sensex rose over 200 points to its new high for a fourth day at 62,724 and Nifty gained 70 points to 18,631, its fresh high for a second session

Tuesday, November 29, 2022

Extending early gains, the BSE Sensex rose over 200 points to its new high for the fourth day at 62,724, and the NSE Nifty50 gained 70 points to 18,631, its fresh high for a second session. Titan, ITC, M&M, ICICI Bank, Sun Pharma, and Dr Reddy's were the top winners on the Sensex, up to 1 percent higher, while Hindalco, Britannia, and Cipla were the top Nifty gainers. On the downside, Maruti, Tata Motors, Bajaj Finserv, IndusInd Bank, L&T, Wipro, and Reliance were the leading losers across the two benchmarks. Read more

MARKET UPDATE: Sensex fell 130 points to 62,161 and Nifty slipped 30 points to 18,480

MARKET UPDATE: Sensex fell 130 points to 62,161 and Nifty slipped 30 points to 18,480

Monday, November 28, 2022

Opening bell: The key benchmark indices turned flat after a lower start today (28 November 2022) as select heavyweights lent support. The BSE Sensex fell 130 points to 62,161 and the NSE Nifty50 slipped 30 points to 18,480. HDFC twins, TCS, IndusInd Bank, Titan, and Infosys were the top laggards on the Sensex, while M&M, Wipro, Maruti, and Reliance were the leading outperformers, rising up to 1 percent. On the Nifty, Hero Moto, BPCL, Bajaj Auto, and SBI Life were the top winners, up to 3 percent higher, while Hindalco, JSW Steel, and Apollo Hospitals slipped up to 2 percent. Read more

MARKET UPDATE: Sensex rose over 100 points to trade at 61,647 levels and Nifty climbed over 40 points to trade above 18,300 levels

MARKET UPDATE: Sensex rose over 100 points to trade at 61,647 levels and Nifty climbed over 40 points to trade above 18,300 levels

Thursday, November 24, 2022

Opening Bell: Indian markets inched higher today (24 November 2022) after dovish US FOMC minutes cheered global stocks. Key indices Nifty50 climbed over 40 points to trade above 18,300 levels and the S&P 500 rose over 100 points to trade at 61,647 levels. Broader markets, too, followed a similar trend as Nifty SmallCap 100 and Nifty MidCap 100 surged up to 0.4 percent. Volatility gauge, India VIX, meanwhile, declined over 4 percent. All sectors started to trade on a positive note with Nifty Media, Nifty Auto, and Nifty PSU Bank indices leading the charge. Read more

MARKET UPDATE: Sensex advanced over 100 points to trade at 61,519 levels and Nifty climbed over 20 points to trade above 18,250 levels

MARKET UPDATE: Sensex advanced over 100 points to trade at 61,519 levels and Nifty climbed over 20 points to trade above 18,250 levels

Wednesday, November 23, 2022

Indian equity markets traded higher in today's ( 23 November 2022) intra-day trade amid strong global cues. Key indices Nifty50 climbed over 20 points to trade above 18,250 levels and the S&P BSE Sensex advanced over 100 points to trade at 61,519 levels. A similar resilience was seen across broader markets as Nifty MidCap 100 and Nifty SmallCap 100 gained up to 0.3 percent. The volatility index, India VIX, meanwhile, slipped in red. Sectorwise, Nifty PSU Bank and Nifty Media indices gained the most, up to 1 percent. Nifty FMCG, Nifty IT, and Nifty Metal indices, however, were subdued. Read more

MARKET UPDATE: Sensex advanced over 40 points to trade at 61,190 levels and Niftyclimbed over 10 points to trade flat above 18,150 levels

MARKET UPDATE: Sensex advanced over 40 points to trade at 61,190 levels and Niftyclimbed over 10 points to trade flat above 18,150 levels

Tuesday, November 22, 2022

Opening Bell: Indian equity markets opened volatile in today's(22 November 2022) trade amid mixed global cues. Key indices Nifty50 climbed over 10 points to trade flat above 18,150 levels and the S&P BSE Sensex advanced over 40 points to trade at 61,190 levels. Broader markets, meanwhile, outperformed benchmark indices as Nifty SmallCap 100 and Nifty MidCap 100 indices surged up to 0.2 percent. Sector-wise, Nifty IT, Nifty Metal, and Nifty Realty indices slipped the most -- up to 0.5 percent. Nifty PSU Bank and Nifty Auto indices, however, gained up to 0.9 percent. Read more

MARKET UPDATE: Sensex lowered over 450 points to trade at 61,209 levels and Nifty declined over 100 points to trade below 18,200 levels

MARKET UPDATE: Sensex lowered over 450 points to trade at 61,209 levels and Nifty declined over 100 points to trade below 18,200 levels

Monday, November 21, 2022

Indian equity markets were lower in today's (21 November 2022) intra-day trade, weighed down by index heavyweights like ITC, Reliance Industries, HDFC Twins, TCS, and Tech Mahindra. Key indices Nifty50 declined over 100 points to trade below 18,200 levels and the S&P BSE Sensex lowered over 450 points to trade at 61,209 levels. Broader markets, meanwhile, were volatile as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. The volatility gauge, India VIX, on the other hand, climbed over 4 percent. Sector-wise all sectors plunged into negative territory with Nifty Auto, Nifty Pharma, Nifty IT, and Nifty FMCG indices dropping up to 1 percent. Read more

MARKET UPDATE: Sensex slipped over 150 points to hit day's low of 61,587 levels and Nifty declined over 40 points to trade below 18,300 levels

MARKET UPDATE: Sensex slipped over 150 points to hit day's low of 61,587 levels and Nifty declined over 40 points to trade below 18,300 levels

Friday, November 18, 2022

Indian equity markets erased early gains and turned volatile in today's(18 November 2022) intra-day trade amid mixed global cues and softened crude oil prices. Key indices Nifty50 declined over 40 points to trade below 18,300 levels, whereas the S&P BSE Sensex slipped over 150 points to hit the day's low of 61,587 levels. Broader markets, too, joined the weak market mood as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.1 percent. The volatility index, India VIX, meanwhile, slipped over 2 percent. sector-wise all sectors shifted between gains and losses. While Nifty PSU Bank, Nifty Media, and Nifty Bank indices gained up to 1 percent in trade; Nifty Auto, Nifty FMCG, and Nifty IT indices dropped up to 0.5 percent. Read more

MARKET UPDATE: Sensex shed over 100 points to trade at 61,858 levels and Nifty slipped over 40 points to trade below 18,400 levels

MARKET UPDATE: Sensex shed over 100 points to trade at 61,858 levels and Nifty slipped over 40 points to trade below 18,400 levels

Thursday, November 17, 2022

Opening Bell: Indian equity markets opened lower in today's(17 November 2022) trade amid weak global cues. Key indices Nifty50 slipped over 40 points to trade below 18,400 levels and the S&P BSE Sensex shed over 100 points to trade at 61,858 levels. Broader markets, too, lowered in the trade as Nifty MidCap 100 and Nifty SmallCap 100 indices declined up to 0.1 percent. Volatility gauge, India VIX, meanwhile, climbed over 1 percent. Sectorwise barring Nifty Pharma and Nifty FMCG indices, all sectors nosedived into negative territory. Nifty Auto, Nifty Bank, and Nifty IT indices slipped the most - up to 0.5 percent in trade. Read more

MARKET UPDATE: Sensex fell 140 points to 61,730, and Nifty slipped 37 points to 18,366

MARKET UPDATE: Sensex fell 140 points to 61,730, and Nifty slipped 37 points to 18,366

Wednesday, November 16, 2022

Equity markets in India opened lower today (16 November 2022) tracking losses in other Asian markets, which declined as reports of Russian missile striking Poland raised geo-political tensions. The BSE Sensex fell 140 points to 61,730, and the NSE Nifty50 slipped 37 points to 18,366. The broader markets, meanwhile, outperformed frontline indices. The BSE MidCap and SmallCap indices were up to 0.22 percent higher. Sectorwise, Nifty Oil & Gas weakened the most, down 0.5 percent. FMCG, Financials also edged lower. While the Auto, PSB, and Consumer Durable indices gained. Among stocks, Bharat Electronics rose nearly 2 percent after the company signed 4 separate MoUs to supply defense equipment.

MARKET UPDATE: Sensex down 150 points to 61,475, and the Nifty moved 30 points lower to 18,300

MARKET UPDATE: Sensex down 150 points to 61,475, and the Nifty moved 30 points lower to 18,300

Tuesday, November 15, 2022

Equity markets were volatile in today's(15 November 2022) trade despite positive moves across their global peers. The BSE Sensex was down 150 points to 61,475, and the NSE Nifty50 moved 30 points lower to 18,300. The broader markets were largely flat. The BSE MidCap was down 0.03 percent and the SmallCap index held similar gains. Sector-wise movements were also muted with the highest gains in the Nifty Auto index, which was up 0.5 percent. While FMCG and Realty, indices were the sole losers with downward of 0.6 percent and 0.4 percent, respectively. Read more

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

CLOSING BELL: Sensex leaps 1,181 pts to a fresh 52-week high of 61,841 and Nifty touched 18,362 amid global rally

CLOSING BELL: Sensex leaps 1,181 pts to a fresh 52-week high of 61,841 and Nifty touched 18,362 amid global rally

Friday, November 11, 2022

Indian equities rose in tune with global peers after the release of US inflation data in October raised investor hopes that inflation has peaked. Except for a minor downtick in the Nifty Auto, FMCG, and PSU Bank indices, all other sectoral indices advanced on the bourses. The Nifty IT index led from the front with around a 4 percent surge. Meanwhile, HDFC twins, information technology (IT), and other heavyweights including Reliance Industries, Tata Steel, L&T, and Bajaj twins propelled the S&P BSE Sensex to a fresh 52-week high of 61,841, while the Nifty50 touched 18,362. The indices, eventually, ended at 61,795, and 18,350 levels, up 1,181 points and 322 points, respectively. In the broader markets, the BSE MidCap, and the BSE SmallCap indices added 0.15 percent, and 0.33 percent, respectively, as against the frontline indices' 2-per cent gain. Read more

Moody's cuts India's GDP growth projection for 2022

Moody's cuts India's GDP growth projection for 2022

Friday, November 11, 2022

Moody's today(11 November 2022) slashed India's GDP growth projection for 2022 to 7 percent on the expectation that global slowdown and high domestic interest rates would dampen economic momentum. For India, the 2022 real GDP growth projections have been lowered to 7 percent from 7.7 percent. The downward revision assumes higher inflation, high-interest rates, and slowing global growth will dampen economic momentum by more than we had previously expected, said the Global Macro Outlook 2023-24. Moody's expects growth to decelerate to 4.8 percent in 2023 and then to rise to 6.4 percent in 2024. The Indian economy grew 8.5 percent in the 2021 calendar year, according to Moody's. As per official GDP estimates, the economy expanded 13.5 percent in April-June 2022-23, higher than the 4.10 percent growth clocked in January-March. GDP figures for the September quarter would be released at the end of this month. Read more

MARKET UPDATE: Nifty50 surged over 250 points to trade above 18,300 levels and the Sensex advanced over 1,000 points to hit 52-week high of 61,685 levels

MARKET UPDATE: Nifty50 surged over 250 points to trade above 18,300 levels and the Sensex advanced over 1,000 points to hit 52-week high of 61,685 levels

Friday, November 11, 2022

Opening Bell: Indian markets were driven higher by bulls in today's(11 November 2022) trade amid strong global cues coupled with a weaker dollar. Key indices Nifty50 surged over 250 points to trade above 18,300 levels and the S&P Sensex advanced over 1,000 points to hit a 52-week high of 61,685 levels. Broader markets, too, cheered in the trade as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed over 1 percent each. Volatility gauge, India VIX, meanwhile, slipped over 4 percent. All sectors swam in a sea of green, with the Nifty IT index leading at the forefront, up over 3 percent. Among individual stocks, shares of Zomato surged over 7 percent after the company's net loss narrowed to Rs 251 crore in Q2FY23. Read more

CLOSING BELL: Sensex closed at 60,614 levels, down by 420 points and Nifty50 fell 121 points to shut shop at 18,036

CLOSING BELL: Sensex closed at 60,614 levels, down by 420 points and Nifty50 fell 121 points to shut shop at 18,036

Thursday, November 10, 2022

Closing Bell: Global stock markets, including Indian, remained subdued today(10 November 2022) as nervousness in the cryptocurrency markets spilled over into equities. In addition, investors' interpretation of the incoming results from the US mid-term elections kept the sentiment in check. Further, the sentiment was also impacted due to nervousness ahead of US CPI data for October. A higher-than-expected print can see the US Fed hike rates more than consensus estimates in its December policy review. That apart, the weekly F&O expiry, back home, was also partly responsible for the overall weak sentiment. The S&P BSE Sensex closed at 60,614 levels today, down by 420 points or 0.69 percent. It had hit a low of 60,425.47 during the day. The NSE Nifty50, on the other hand, fell 121 points, or 0.66 percent, to shut shop at 18,036. The index breached below the 18,000 mark during the day to hit a low of 17,969.40. Read more

MARKET UPDATE: Nifty50 declined over 50 points to trade below 18,100 levels, whereas the Sensex tumbled over 400 points to trade below 61,000 levels

MARKET UPDATE: Nifty50 declined over 50 points to trade below 18,100 levels, whereas the Sensex tumbled over 400 points to trade below 61,000 levels

Thursday, November 10, 2022

Opening Bell: Indian markets were weighed down by Bears in today's( 10 November 2022) trade amid weak global cues. Key indices Nifty50 declined over 50 points to trade below 18,100 levels, whereas the S&P BSE Sensex tumbled over 400 points to trade below 61,000 levels. Broader markets, too, slipped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.7 percent. Volatility gauge, India VIX, meanwhile, gained over 1 percent. Barring the Nifty Pharma index, all sectors plunged into negative territory, with the Nifty Auto index declining the most, over 1 percent. Read more

CLOSING BELL: Sensex fell 152 points to 61,033 and Nifty50 shut shop at 18,157, down 46 points

CLOSING BELL: Sensex fell 152 points to 61,033 and Nifty50 shut shop at 18,157, down 46 points

Wednesday, November 9, 2022

Equities turned lower at the fag-end of the session with the S&P BSE Sensex falling 152 points, or 0.25 percent, to 61,033. The Nifty50, meanwhile, shut shop at 18,157, down 46 points or 0.25 percent. Both the indices had hit an intra-day high of 61,447, and 18,296, respectively. In the broader markets, the BSE MidCap, and the BSE SmallCap indices slipped 0.5 percent, and 0.3 percent, respectively. Sectorally, all indices, except banking stocks were in the red. The Nifty PSU Bank index surged nearly 4 percent, while the Nifty Bank added 0.25 percent. The Nifty Realty index was the worst hit, down 1.4 percent. Read more

MARKET UPDATE: Sensex advanced over 150 points to trade above 61,350 levels and Nifty50 climbed over 50 points to trade above 18,250 levels

MARKET UPDATE: Sensex advanced over 150 points to trade above 61,350 levels and Nifty50 climbed over 50 points to trade above 18,250 levels

Wednesday, November 9, 2022

Opening Bell: Indian equity markets edged higher in today's(9 November 2022) trade amid strong global cues. Key indices like Nifty50 climbed over 50 points to trade above 18,250 levels and the S&P BSE Sensex advanced over 150 points to trade above 61,350 levels. Broader markets, however, were mixed as Nifty SmallCap 100 index slipped marginally to underperform the Nifty MidCap 100 index. All sectors started to trade on a positive note, with Nifty Pharma and Nifty Realty indices gaining up to 1 percent. Among individual stocks, shares of PB Fintech surged over 5 percent after the company saw losses narrow to Rs 186.64 crore in Q2FY23. Besides, shares of BLS International soared over 5 percent after the company's net profit jumped 83.3 percent YoY to Rs 50.37 crore in Q2FY23.

Stock market holiday: Trading at BSE, NSE closed today

Stock market holiday: Trading at BSE, NSE closed today

Tuesday, November 8, 2022

The Indian stock market is closed today(8 November 2022) on the account of Guru Nanak Jayanti, therefore, there will be no trading activity today. As per the information available on the official BSE website, trading on BSE (Bombay Stock Exchange) and NSE (National Stock Exchange) will remain closed for the entire session on Tuesday i.e. November 8, 2022. In the Commodity segment, trading at Multi Commodity Exchange (MCX) will remain closed in the first half whereas it will take place in the second half from 5 pm (evening session) on November 8, 2022. November 8, 2022, is the last trading holiday of this year on Dalal Street, being the sixteenth market holiday of this year. Meanwhile, trading on the stock exchanges BSE and NSE will resume on Wednesday, November 9, 2022, as per its usual timings.

CLOSING BELL: Sensex settled at 61,185, up 235 points and Nifty50 closed at 18,203, up 86 points

CLOSING BELL: Sensex settled at 61,185, up 235 points and Nifty50 closed at 18,203, up 86 points

Monday, November 7, 2022

CLOSING BELL: Indian equities were lackluster in trade today(7 November 20022) as markets began on a cautious note in a holiday-truncated week. The S&P BSE Sensex gyrated between 60,714 and 61,401 levels, before settling at 61,185, up 235 points or 0.39 percent. The Nifty50, on the other hand, moved in a band of 200 points and closed at 18,203, up 86 points or 0.47 percent. The losses in Asian Paints, Bajaj Finserv, Kotak Bank, Sun Pharma, Titan, Dr. Reddy's Labs, IndusInd Bank, and Infosys were offset by gains in SBI, Tata Steel, ICICI Bank, Maruti Suzuki, Ultratech Cement, M&M, PowerGrid, and HDFC. Sectorally, the Nifty PSU Bank index sharply outperformed other indices as it gained 4.5 percent. The Nifty Metal index advanced 1.6 percent, while the Nifty Auto index gained 1.3 percent. The Nifty Pharma index was the only loser, down 1.4 percent. Meanwhile, in the broader markets, the BSE MidCap and SmallCap indices added 0.6 percent each.

MARKET UPDATE: Sensex advanced over 300 points to trade at 61,290 levels and Nifty50 climbed over 100 points to trade above 18,200 levels

MARKET UPDATE: Sensex advanced over 300 points to trade at 61,290 levels and Nifty50 climbed over 100 points to trade above 18,200 levels

Monday, November 7, 2022

Indian equity markets trimmed gains in today's(7 November 2022) intra-day trade, however, traded in the positive territory. Key indices Nifty50 climbed over 100 points to trade above 18,200 levels and the S&P BSE Sensex advanced over 300 points to trade at 61,290 levels. Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap indices gained up to 0.7 percent. Barring Nifty IT and Nifty Pharma indices, all sectors traded on a positive note. The nifty PSU Bank index gained the most, up over 5 percent. Among individual stocks, shares of SBI gained over 5 percent after the lender's net profit rose 74 percent year-on-year (YoY) to Rs 13,265 crore in Q2FY23. Besides, shares of Britannia Industries zoomed 10 percent to hit an all-time high of Rs 4,181.4 per share, after the company reported robust revenue growth in Q2FY23.

MARKET UPDATE: Sensex lowered over 100 points to hit a low of 60,697 levels and Nifty50 declined over 10 points to trade below 18,050 levels

MARKET UPDATE: Sensex lowered over 100 points to hit a low of 60,697 levels and Nifty50 declined over 10 points to trade below 18,050 levels

Friday, November 4, 2022

Indin equity markets wiped off early gains and inched lower in today's(4 November 20222) intra-day trade amid mixed global cues. Key indices Nifty50 declined over 10 points to trade below 18,050 levels, whereas the S&P BSE Sensex lowered over 100 points to hit a low of 60,697 levels. Broader markets, meanwhile, were volatile as Nifty SmallCap 100 index outperformed Nifty MidCap 100 index. All sectors shifted between gains and losses. While the Nifty Metal index gained the most, over 1 percent; the Nifty IT index declined the most, over 1 percent. Read more

MARKET UPDATE: Sensex gained over 50 points to trade at 60,964 levels and Nifty50 declined over 18 points to trade above 18,000 levels

MARKET UPDATE: Sensex gained over 50 points to trade at 60,964 levels and Nifty50 declined over 18 points to trade above 18,000 levels

Thursday, November 3, 2022

Indin equity markets reversed opening losses and edged up in today's(3rd November 2022) intra-day trade, supported by gains across index heavyweights like Bajaj Twins, Maruti Suzuki, Hindustan Unilever, and ITC. Key indices Nifty50 declined over 18 points to trade above 18,000 levels and the S&P BSE Sensex gained over 50 points to trade at 60,964 levels. Broader markets, too, advanced in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed up to 0.5 percent. All sectors shifted between gains and losses. Nifty PSU Bank, Nifty Media, and Nifty FMCG indices were at the forefront as they surged up to 1 percent. Nifty IT, Nifty Realty, and Nifty Pharma indices, however, slipped up to 1 percent. Read more

MARKET UPDATE: Sensex lowered over 100 points to trade below 61,000 levels and Nifty50 declined over 20 points to trade flat below 18,140

MARKET UPDATE: Sensex lowered over 100 points to trade below 61,000 levels and Nifty50 declined over 20 points to trade flat below 18,140

Wednesday, November 2, 2022

Key indices Nifty50 declined over 20 points to trade flat below 18,140 and the S&P BSE Sensex lowered over 100 points to trade below 61,000 levels. Broader markets, however, were fractionally higher as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed up to 0.2 percent. All sectors shifted between gains and losses, with Nifty Pharma and Nifty Media indices advancing over 1 percent each. Nifty IT, Nifty Auto, and Nifty PSU Bank indices, however, slipped up to 0.4 percent. Among individual stocks, shares of LIC Housing Finance plunged 13 percent after the company reported a disappointing set of numbers in Q2FY23. Besides, shares of Karnataka Bank soared over 17 percent after net profit grew 228 percent YoY (an all-time quarterly high) to Rs 411.5 crore in Q2FY23.

MARKET UPDATE: Sensex advanced over 300 points to reclaim 61,058 levels and Nifty50 climbed over 50 points to trade above 18,100 levels

MARKET UPDATE: Sensex advanced over 300 points to reclaim 61,058 levels and Nifty50 climbed over 50 points to trade above 18,100 levels

Tuesday, November 1, 2022

Key indices Nifty50 climbed over 50 points to trade above 18,100 levels and the S&P BSE Sensex advanced over 300 points to reclaim 61,058 levels after a gap of nine months. Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices surged up to 0.3 percent. Volatility gauge, India VIX, meanwhile, slipped over 1 percent. Barring the Nifty Metal index, all sectors swam in the sea of green, with Nifty PSU Bank and Nifty Pharma indices rising up to 1 percent. Among individual stocks, shares of Equitas SFB gained over 2 percent after the lender reported over two-fold jump in net profit to Rs 116 crore in Q2FY23. Besides, shares of Castrol India slipped over 1 percent after the company reported flat growth in its PAT at Rs 187 crore in Q2FY23.

MARKET UPDATE: Nifty50 climbed over 150 points to trade above 17,950 levels and the Sensex advanced over 600 points to hit a high of 60,606 levels

MARKET UPDATE: Nifty50 climbed over 150 points to trade above 17,950 levels and the Sensex advanced over 600 points to hit a high of 60,606 levels

Monday, October 31, 2022

Indian equity markets edged higher in today's(31 October 2022) intra-day trade amid strong global cues and steady foreign flows. Key indices Nifty50 climbed over 150 points to trade above 17,950 levels and the S&P BSE Sensex advanced over 600 points to hit a high of 60,606 levels. The strength spilled across broader markets too, as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.6 percent. Sectorally, Nifty IT and Nifty Auto indices were at the forefront as they rose over 1 percent each. Nifty Metal and Nifty PSU Bank, indices, however, slipped up to 0.3 percent. Read more

MARKET UPDATE: Sensex climbed over 300 points to hit a high of 60,071 levels and Nifty50 climbed over 50 points to trade above 17,800 levels

MARKET UPDATE: Sensex climbed over 300 points to hit a high of 60,071 levels and Nifty50 climbed over 50 points to trade above 17,800 levels

Friday, October 28, 2022

Indian equity markets edged higher in today's (28 October 2022) intra-day trade, supported by gains across index-heavyweights like Reliance Industries, Maruti Suzuki, Hindustan Unilever, and Bajaj Twins. Key indices Nifty50 climbed over 50 points to trade above 17,800 levels and the S&P BSE Sensex climbed over 300 points to hit a high of 60,071 levels The broader markets, however, were subdued in the trade as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped up to 0.3 percent. Volatility gauge, India VIX, meanwhile, slipped over 1 percent. All sectors shifted between gains and losses. Nifty Oil & Gas, Nifty Auto, and Nifty FMCG indices led the charge as they surged up to 1 percent. Nifty Metal index, however, was the worst sectoral performer as it declined over 1 percent. Read more

MARKET UPDATE: Nifty50 climbed over 100 points to trade above 17,750 levels and the Sensex advanced over 300 points to trade at 59,891 level

MARKET UPDATE: Nifty50 climbed over 100 points to trade above 17,750 levels and the Sensex advanced over 300 points to trade at 59,891 level

Thursday, October 27, 2022

Opening Bell: Indian equity markets edged higher in today's(27 October 2022) trade amid mixed global cues. Key indices Nifty50 climbed over 100 points to trade above 17,750 levels and the S&P BSE Sensex advanced over 300 points to trade at 59,891 levels. The broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 rose over 0.3 percent each. All sectors were in a sea of green as the Nifty Metal index led the charge, rising over 1 percent in trade. Among individual stocks, shares of Dabur gained over 2 percent after the FMCG major plans to invest Rs 325.87 crore in its Indore plant in Madhya Pradesh. In addition, shares of Gland Pharma tumbled over 7 percent after the company saw a 20.1 percent decline in consolidated net profit to Rs 241.2 crore in Q2FY23.

CLOSING BELL: Sensex closed 288 points lower at 59,544, while the Nifty50 ended at 17,640, down 91 points

CLOSING BELL: Sensex closed 288 points lower at 59,544, while the Nifty50 ended at 17,640, down 91 points

Tuesday, October 25, 2022

Profit booking emerged on Dalal Street after a 7-day winning streak, with investors dumping FMCG and private banking stocks. The S&P BSE Sensex index closed 288 points, or 0.48 percent, lower at 59,544, while the Nifty50 ended at 17,640, down 91 points or 0.5 percent. Tech M, Maruti Suzuki, L&T, NTPC, Dr. Reddy's Labs, SBI, M&M, and Infosys were the top gainers on the Sensex index. These stocks gained between 0.6 percent and 3 percent. The top drags were Nestle, Bajaj Finserv, HUL, Kotak Bank, RIL, HDFC, Bajaj Finance, Asian Paints, and IndusInd Bank as they fell in the range of 1 percent to 3 percent. In the broader markets, the BSE MidCap index added 0.45 percent, but the BSE SmallCap index slipped 0.35 percent.

MARKET UPDATE: Sensex advanced over 40 points to trade at 59,875 levels and the Nifty50 traded flat below 17,750 levels

MARKET UPDATE: Sensex advanced over 40 points to trade at 59,875 levels and the Nifty50 traded flat below 17,750 levels

Tuesday, October 25, 2022

Opening Bell: Indian equity markets opened volatile today(25 October 2022) amid mixed global cues. Key indices Nifty50 traded flat below 17,750 levels and the S&P BSE Sensex advanced over 40 points to trade at 59,875 levels. Broader markets, too, edged lower as Nifty MidCap 100 and Nifty SmallCap 100 lowered by over 0.3 percent. All sectors started to trade on a volatile note. Nifty IT, Nifty Metal, and Nifty Auto indices, however, led the charge as they surged up to 0.4 percent. Read more

MARKET UPDATE: Sensex advanced over 300 points to trade at 59,549 levels while Nifty50 rose over 50 points to trade above 17,600 levels

MARKET UPDATE: Sensex advanced over 300 points to trade at 59,549 levels while Nifty50 rose over 50 points to trade above 17,600 levels

Friday, October 21, 2022

Indian equity markets edged higher in today's( 21 October 2022) intra-day trade despite dim global cues. Key indices Nifty50 rose over 50 points to trade above 17,600 levels and the S&P BSE Sensex advanced over 300 points to trade at 59,549 levels. Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 indices climbed up to 0.4 percent. Barring Nifty IT, Nifty Metal, and Nifty Media indices, all sectors traded on a positive note. The nifty PSU Bank index gained the most, over 2 percent. Under individual stocks, shares of Axis Bank surged over 6 percent after the lender posted a 70 percent YoY rise in standalone net profit to Rs 5,329.7 crore in Q2FY23. Also, shares of Lakshmi Machine Works rose over 3 percent after consolidated net profit climbed 139.6 percent YoY to Rs 104.30 crore in Q2FY23.

MARKET UPDATE: Nifty50 declined over 50 points to trade below 17,450 levels and the Sensex lowered over 200 points to trade at 58,873 levels

MARKET UPDATE: Nifty50 declined over 50 points to trade below 17,450 levels and the Sensex lowered over 200 points to trade at 58,873 levels

Thursday, October 20, 2022

Indian equity markets edged lower in today's(20 October 2022) intra-day trade amid weak global cues and muted foreign flows. Key indices Nifty50 declined over 50 points to trade below 17,450 levels and the S&P BSE Sensex lowered over 200 points to trade at 58,873 levels. A similar trend was seen across broader markets as Nifty Midcap 100 and Nifty Smallcap 100 slipped up to 0.8 percent. All sectors plunged into the sea of red as investors' risk appetite worsened. Nifty Auto, Nifty Metal, and Nifty Consumer Durables indices declined the most - over 1 percent. In individual stocks, shares of Nestle India gained over 1 percent after the company posted 8.3 percent YoY growth in net profit to Rs 668 crore in Q3, above street estimates. In addition, profit-booking was seen in IndusInd Bank as shares dropped over 6 percent after the company clocked 57 percent YoY standalone net profit growth to Rs 1,805 crore in Q2FY23.

MARKET UPDATE: Nifty50 climbed over 50 points to trade above 17,550 levels, whereas the S&P BSE Sensex surged over 250 points to trade at 59,212 levels

MARKET UPDATE: Nifty50 climbed over 50 points to trade above 17,550 levels, whereas the S&P BSE Sensex surged over 250 points to trade at 59,212 levels

Wednesday, October 19, 2022

Domestic equity markets edged higher in today's(19 October 2022) intra-day trade amid mixed global cues, falling crude prices, and strong domestic flows. Frontline indices Nifty50 climbed over 50 points to trade above 17,550 levels, whereas the S&P BSE Sensex surged over 250 points to trade at 59,212 levels. The strength was spilled across broader markets as Nifty MidCap 100 and Nifty SmallCap 100 advanced up to 0.3 percent. Volatility gauge, India VIX, meanwhile, slipped over 1 percent. Sectorally, Nifty FMCG, Nifty Realty, and Nifty Bank indices led the charge as they surged up to 0.4 percent. However, Nifty IT, Nifty Pharma, and Nifty Metal indices declined in the range of 0.2-0.5 percent. Among individual stocks, shares of Bharat Electronics gained over 1 percent after the company inked a pact with defense PSU Munitions India. Besides that, profit-booking was seen in L&T Technology Services after shares declined over 2 percent post-upbeat Q2FY23 performance.

MARKET UPDATE: Nifty50 climbed over 200 points to trade above 17,500 levels and the S&P BSE Sensex surged over 700 points to trade at 59, 127 levels

MARKET UPDATE: Nifty50 climbed over 200 points to trade above 17,500 levels and the S&P BSE Sensex surged over 700 points to trade at 59, 127 levels

Tuesday, October 18, 2022

Opening Bell: Indian equity markets were trading higher today(18 October 2022) amid strong global cues and falling crude oil prices. Key indices Nifty50 climbed over 200 points to trade above 17,500 levels and the S&P BSE Sensex surged over 700 points to trade at 59, 127 levels. Broader markets, too, jumped in tandem as Nifty MidCap 100 and Nifty SmallCap 100 advanced 0.7 percent each. All sectors started to trade on a firm note. Nifty Media, Nifty Auto, and Nifty IT indices gained the most - up to 2 percent. Among individual stocks, shares of Zee Entertainment surged over 4 percent after Invesco Developing Markets Fund sold a 10.14 percent stake via a block deal. In addition, shares of Adani Transmission gained over 2 percent after the company saw a 13 percent jump in the number of electricity units sold during Q2FY23.

MARKET UPDATE: Nifty50 lowered over 30 points to trade below 17,150 levels and the BSE Sensex declined over 100 points to trade at 57,811 levels

MARKET UPDATE: Nifty50 lowered over 30 points to trade below 17,150 levels and the BSE Sensex declined over 100 points to trade at 57,811 levels

Monday, October 17, 2022

Opening Bell: Indian equity markets opened flat today( 17 October 2022) amid weak global cues and muted foreign flows. Key indices Nifty50 lowered over 30 points to trade below 17,150 levels and the S&P BSE Sensex declined over 100 points to trade at 57,811 levels. Weakness ensued in the broader markets as Nifty MidCap 100 and Nifty SmallCap 100 indices dropped up to 0.2 percent. Volatility gauge, India VIX, meanwhile, climbed over 4 percent. Barring Nifty Bank which started trade in the green zone, all other sectors nosedived in the sea of red. The Nifty Metal index declined the most, with over 1 percent in trade. Read more

India to become world's third-largest economy by FY28 : IMF

India to become world's third-largest economy by FY28 : IMF

Friday, October 14, 2022

$4.94 trillion that year. The following year, India’s economy would hit the $5.36-trillion mark, higher than Japan’s at $5.17 trillion. That year, India would become the third-largest economy. The size of India’s economy was $3.18 trillion in 2021-22 (FY22), while Britain’s was $3.19 trillion in 2021, according to the flagship publication by the Fund. The size of India’s economy is calculated on a financial year basis (April to March). For other economies, it is on a calendar year basis. Earlier, there was a Bloomberg report that stated that India has overtaken the UK in the fourth quarter of FY22, basing it on World Bank data. However, that comparison was made on quarterly figures, not yearly. Read more

MARKET UPDATE: Sensex climbed over 1,000 points to trade at 58,267 levels, while Nifty50 surged over 300 points to trade above 17,300 levels

MARKET UPDATE: Sensex climbed over 1,000 points to trade at 58,267 levels, while Nifty50 surged over 300 points to trade above 17,300 levels

Friday, October 14, 2022

Opening Bell: Bulls took control of Indian markets as they opened higher today(14 October 2022) amid strong global cues and easing crude oil prices. Key indices Nifty50 surged over 300 points to trade above 17,300 levels and the S&P BSE Sensex climbed over 1,000 points to trade at 58,267 levels. The strength spilled across broader markets as Nifty MidCap 100 and Nifty SmallCap 100 advanced over 1 percent each. All sectors were in positive territory with Nifty Bank and Nifty IT indices leading the front. Among individual stocks, shares of Infosys rose over 5 percent after the IT major reported a better-than-expected net profit of Rs 6,021 crore, up 11 percent YoY in Q2FY23. Besides, the shares of Mindtree gained over 2 percent after the company reported a 27 percent rise YoY in net profit to Rs 509 crore in Q2FY23, which was above street estimates.

MARKET UPDATE: Sensex fell over 250 points to hit a low of 57,360 levels, while Nifty50 declined over 50 points to test 17,050 levels

MARKET UPDATE: Sensex fell over 250 points to hit a low of 57,360 levels, while Nifty50 declined over 50 points to test 17,050 levels

Thursday, October 13, 2022

Indian equity markets edged lower in today's(13 October 2022) intra-day trade amid weak global cues and subdued foreign flows. Key indices Nifty50 declined over 50 points to test 17,050 levels and the S&P BSE Sensex fell over 250 points to hit a low of 57,360 levels. Broader markets, too, plunged in tandem as Nifty MidCap 100 and Nifty SmallCap 100 declined up to 0.5 percent. Volatility gauge, India VIX, meanwhile, climbed over 1 percent. All sectors traded on a volatile note. The nifty Metal index gained the most, over 1 percent. Nifty Bank, and Nifty IT indices, meanwhile, declined up to 0.5 percent. Among individual stocks, shares of HCL Technologies surged over 4 percent after the IT major raised its full-year revenue growth guidance to 13.5-14.5 percent. Besides, shares of Wipro tumbled over 6 percent to hit a fresh 52-week low after the company's Q3FY23 revenue growth guidance was below street estimates.

MARKET UPDATE: Sensex was up over 200 points to trade at 57,362 levels, while Nifty50 up over 50 points to trade above 17,050 levels

MARKET UPDATE: Sensex was up over 200 points to trade at 57,362 levels, while Nifty50 up over 50 points to trade above 17,050 levels

Wednesday, October 12, 2022

Opening Bell: Indian equity markets edged higher in today's(12 October 2022) trade amid mixed global cues and falling crude oil prices. Key indices Nifty50 was up over 50 points to trade above 17,050 levels, whereas the S&P BSE Sensex was up over 200 points to trade at 57,362 levels. Broader markets, too, climbed in the trade as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.4 percent. Sector-wise, all sectors opened on a volatile note. Nifty FMCG, Nifty IT, and Nifty Realty indices gained marginally in trade - up to 0.6 percent. Read more

MARKET UPDATE: Sensex fell 150 points to trade at 57,853 levels and Nifty50 declined over 30 points to trade below 17,250 levels

MARKET UPDATE: Sensex fell 150 points to trade at 57,853 levels and Nifty50 declined over 30 points to trade below 17,250 levels

Tuesday, October 11, 2022

Opening Bell: Volatility gripped domestic equity markets today(11 October 2022) amid weak global cues and subdued foreign flows. Frontline indices Nifty50 declined over 30 points to trade below 17,250 levels and the S&P BSE Sensex fell 150 points to trade at 57,853 levels The broader markets, however, steered southwards as Nifty MidCap 100 and Nifty SmallCap 100 climbed up to 0.2 percent. Sector-wises, all sectors swung between gains and losses, as Nifty IT, Nifty Media, and Nifty Pharma indices gained marginally in trade. Nifty Bank, Nifty Realty, and Nifty Auto indices, however, declined up to 0.4 percent.

MARKET UPDATE: Sensex fell over 700 points to trade at 57,480 levels and Nifty50 declined over 200 points to trade below 17,100 levels

MARKET UPDATE: Sensex fell over 700 points to trade at 57,480 levels and Nifty50 declined over 200 points to trade below 17,100 levels

Monday, October 10, 2022

Opening Bell: Today (10 October 2022) bears weighed domestic equity markets amid weak global cues, muted foreign flows, and higher crude oil prices. Key indices Nifty50 declined over 200 points to trade below 17,100 levels and the S&P BSE Sensex fell over 700 points to trade at 57,480 levels. The weakness spread to broader markets as Nifty MidCap 100 and Nifty SmallCap 100 lowered by over 1 percent each. Volatility gauge, India VIX, meanwhile, climbed over 6 percent. All sectors nosedived into the negative territory on the back of somber risk appetite. Nifty Bank, Nifty Auto, and Nifty FMCG indices tumbled the most - over 1 percent each. Read more

MARKET UPDATE: Markets volatile; Sensex was flat trade at 58,223 levels and Nifty50 turned green to trade flat above 17,300 levels

MARKET UPDATE: Markets volatile; Sensex was flat trade at 58,223 levels and Nifty50 turned green to trade flat above 17,300 levels

Friday, October 7, 2022

Opening Bell: Indian equity markets were volatile in today's (7 October 2022) intra-day trade, amid weak global cues and rising crude oil prices. Key indices Nifty50 turned green to trade flat above 17,300 levels and the S&P BSE Sensex was flat trade at 58,223 levels. Broader markets, too, swung between gains and losses in intra-day deals. The nifty SmallCap 100 index outperformed the benchmark, climbing over 0.2 percent. Barring Nifty Auto and Nifty IT indices, all sectors drowned in the sea of red. The nifty PSU Bank index was the worst hit in the trade as it declined over 1 percent. Among individual stocks, shares of Titan rallied over 6 percent after the company said that the overall sales grew by 18 percent YoY in the Q2 business update. Besides, shares of Nykaa gained over 1 percent after the company entered into a strategic alliance with Dubai-based fashion conglomerate Apparel Group to expand in the Gulf region.

Closing bell: Sensex closed at 58,222, up 157 points while Niftyclosed at 17,332, up 58 points

Closing bell: Sensex closed at 58,222, up 157 points while Niftyclosed at 17,332, up 58 points

Thursday, October 6, 2022

Closing bell: Indian equity markets were volatile in trade today (6 October 2022) as investors adjusted their positions amid the weekly F&O expiry. The S&P BSE Sensex oscillated within a narrow range of 405 points, before it closed at 58,222, up 157 points or 0.27 percent. The Nifty50, on the other hand, shut shop at 17,332, up 58 points or 0.33 percent. JSW Steel, Hindalco, Coal India, L&T, Tata Steel, ICICI Bank, HCL Tech, Axis Bank, Tata Motors, Tata Consumer Products, Shree Cement, and Wipro were the top gainers, up between 1 percent and 5 percent. On the downside, Bharti Airtel, HUL, HDFC, IndusInd Bank, Divis Labs, SBI Life, Britannia, HDFC Bank, and Bajaj Finance were the top laggards, down up to 2.5 percent. Read more

MARKET UPDATE: Sensex surged over 450 points to trade at 58,538 levels and Nifty50 climbed over 100 points to trade above 17,400 levels

MARKET UPDATE: Sensex surged over 450 points to trade at 58,538 levels and Nifty50 climbed over 100 points to trade above 17,400 levels

Thursday, October 6, 2022

Opening Bell: Indian equity markets opened higher in today's(6 October 2022) trade amid mixed global cues and strong foreign flows. Key indices Nifty50 climbed over 100 points to trade above 17,400 levels and the S&P BSE Sensex surged over 450 points to trade at 58,538 levels. The broader markets, too, traded on a firm note as Nifty MidCap 100 and Nifty SmallCap 100 rose up to 0.9 percent. All sectors were in Green. Nifty Media, Nifty Realty, Nifty IT, and Nifty Metal indices gained the most, in the range of 1 percent to 2 percent. Read more

Stock market highlights:: Sensex up 1,277 pts, ends above 58K; Nifty tops 17,250, up 387 points

Stock market highlights:: Sensex up 1,277 pts, ends above 58K; Nifty tops 17,250, up 387 points

Tuesday, October 4, 2022

A global rebound in market sentiment propelled Indian equities higher today(4 October 2022). The S&P BSE Sensex gained 1,277 points, or 2.25 percent, to settle at 58,065. It had touched an intra-day high of 58,100. On the NSE, the Nifty50 shut shop at 17,274, up 387 points or 2.29 percent. The index neared 17,300-mark in the intra-day deals. "Indices surged over 2 percent buoyed by positive global cues, and encouraging quarterly updates on advances, and collections from banks during the second quarter. Ahead of the festive season, the Street is optimistic about retail demand across segments. Participation of the IT sector today lent ammunition to the Bulls as almost all sectoral indices ended in the green. Positive tailwinds back home, amid gloom elsewhere in the globe, left Bears stranded today as the Sensex vaulted past 58,000," said a market expert. Read more

Closing bell: Choppy markets-Sensex settled at 56,789, down 638 points and Nifty50 closed 207 points lower at 16,887

Closing bell: Choppy markets-Sensex settled at 56,789, down 638 points and Nifty50 closed 207 points lower at 16,887

Monday, October 3, 2022

Indian equity markets were choppy today(3rd October 2022) as the global mood remained sombre, and investors booked profit after Friday's 2-per cent rally. The S&P BSE Sensex gyrated within a band of 771 points, before settling at 56,789, down 638 points or 1.11 percent. The NSE Nifty50, too, closed 207 points, or 1.21 percent, lower at 16,887. The index hit a high of 17,114.65, and a low of 16,855.55 during the day. Adani Enterprises was the biggest Nifty dragger as it dropped 9 percent. This was followed by selling in Eicher Motors, Maruti Suzuki, Adani Ports, Hindalco, Tata Consumer Products, HUL, Kotak Bank, ITC, HDFC Life, Britannia, SBI, and Tata Motors. All these stocks fell between 2 percent and 6 percent. On the upside, ONGC, Cipla, Coal India, Dr. Reddy's Labs, BPCL, Divis Labs, and Bharti Airtel helped trim losses. Read more

MARKET UPDATE: Sensex decreased over 250 points to trade at 57,168 levels while Nifty50 declined nearly 50 points to trade below 17,090 levels

MARKET UPDATE: Sensex decreased over 250 points to trade at 57,168 levels while Nifty50 declined nearly 50 points to trade below 17,090 levels

Monday, October 3, 2022

Opening Bell: Indian equity markets edged lower in today's (3rd October 2022) trade as investors digested rate hikes along with sluggish foreign inflows and muted global cues. Key indices Nifty50 declined nearly 50 points to trade below 17,090 levels and the S&P BSE Sensex decreased over 250 points to trade at 57,168 levels. The subdued risk appetite sent broader markets into a tailspin too, as Nifty MidCap 100 and Nifty SmallCap 100 lowered over 2 percent each. All sectors started trading on a volatile note. Nifty Energy, Nifty Media, and Nifty Pharma indices traded with marginal gains, whereas, Nifty Bank, Nifty Metal, and Nifty Auto indices were bogged down. While NTPC, Ultratech Cement, Sun Pharma, and Reliance Industries, attempted to trim losses for the benchmark indices; M&M, IndusInd Bank, Kotak Bank, and Titan, weighed on the indices. Among individual stocks, shares of ONGC soared over 5 percent after the government hiked prices of natural gas by 40 percent.

Historic gap with Indian stocks due to China's $5 trillion rout

Historic gap with Indian stocks due to China's $5 trillion rout

Sunday, October 2, 2022

Compared with a 23% slump for the MSCI China Index, the MSCI India Index rallied almost 10% in the just-ended quarter. The 33-percentage point outperformance by the India gauge is the biggest since March 2000. The big divergence between the two stock markets started to take place in February 2021 as tightening liquidity conditions in China contributed to the unwinding of a two-year rally in equities. Indian stocks, meanwhile, kept hitting record highs thanks to an unprecedented retail investing boom. Read more

MARKET UPDATE: Sensex shed over 200 points to trade at 56,200 levels, while Nifty50 declined over 40 points to trade below 17,800 levels

MARKET UPDATE: Sensex shed over 200 points to trade at 56,200 levels, while Nifty50 declined over 40 points to trade below 17,800 levels

Friday, September 30, 2022

Opening Bell: Indian equity markets edged lower in today's(30 September 2022) trade ahead of the Reserve Bank of India's (RBI) interest rate stance post their 3-day monetary policy committee meeting. Experts expect the central bank to raise interest rates up to 50 basis points. Key indices Nifty50 declined over 40 points to trade below 17,800 levels and the S&P BSE Sensex shed over 200 points to trade at 56,200 levels. The broader markets, too, lost steam as Nifty MidCap 100 and Nifty SmallCap 100 dropped over 0.1 percent each. Reduced risk appetite coupled with rate hike fears brought volatility across sectoral pockets. Nifty Metal and Nifty Pharma indices held up with marginal gains, whereas Nifty Realty, Nifty Bank, and Nifty Auto indices were beaten down in trade. Read more

Sensex and Nifty drop for seventh day running

Sensex and Nifty drop for seventh day running

Friday, September 30, 2022

Benchmark indices fell for the seventh day — their longest losing streak in seven months — ahead of a key rate-setting meeting of the Reserve Bank of India as the selloff in the global markets continued. The central bank is expected to raise the policy rate by 50 basis points (bps). The benchmark Sensex jumped over 500 points in opening trade following an overnight rebound in the US market. However, the optimism was short-lived as the US dollar’s ascent against global currencies continued. The 30-pack index closed at 56,410, down 188 points, or 0.33 percent, over the previous day’s close and 756 points below its day’s high. In the past seven trading sessions, the index is down 3,310 points, or 5.5 percent amid sustained selling by overseas funds, sparked by the decline in the rupee. Previously, the Sensex had declined for seven straight sessions in February. Read more

MARKET UPDATE: Sensex jumped over 450 points to trade at 57,149 levels, while Nifty50 climbed over 150 points to trade above 17,000 levels

MARKET UPDATE: Sensex jumped over 450 points to trade at 57,149 levels, while Nifty50 climbed over 150 points to trade above 17,000 levels

Thursday, September 29, 2022

Opening Bell: Indian equity markets snapped the six-day losing streak in today's(29 September 2022) trade on the back of revived global sentiments. Key indices Nifty50 climbed over 150 points to trade above 17,000 levels and the S&P BSE Sensex jumped over 450 points to trade at 57,149 levels. Broader markets, meanwhile, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 indices surged over 1 percent each. All sectors were in positive territory due to bullish sentiments. Nifty Media, Nifty Metal, and Nifty PSU Bank advanced in the range of 1 percent to 2 percent. While Tata Steel, IndusInd Bank, SBI, ITC, and Axis Bank, helped benchmark indices gain in trade; Asian Paints, Power Grid, TCS, and Nestle India, weighed on the indices.

MARKET UPDATE: Sensex dropped over 500 points to trade at 56,579 levels, while Nifty50 declined over 100 points to trade below 16,900 levels

MARKET UPDATE: Sensex dropped over 500 points to trade at 56,579 levels, while Nifty50 declined over 100 points to trade below 16,900 levels

Wednesday, September 28, 2022

Opening Bell: Weak foreign flows, tepid global sentiments, and hopes of tighter monetary policy drove Indian equity markets lower today (28 September 2022) morning. Key indices Nifty50 declined over 100 points to trade below 16,900 levels and the S&P BSE Sensex dropped over 500 points to trade at 56,579 levels. The muted risk appetite among investors also kept broader markets in negative territory as Nifty MidCap 100 and Nifty SmallCap 100 indices slipped in the range of 0.6 to 0.7 percent. Likewise, all sectors started to trade in a bearish tone. Nifty Auto, Nifty Metal, and Nifty Bank indices faced the biggest fall as they declined over 1 percent each. Read more

MARKET UPDATE: Sensex jumped over 350 points to trade at 57,535 levels, while Nifty50 climbed 100 points to trade above 17,100

MARKET UPDATE: Sensex jumped over 350 points to trade at 57,535 levels, while Nifty50 climbed 100 points to trade above 17,100

Tuesday, September 27, 2022

Opening Bell: Indian equity markets started today's (27 November 2022) trade on a positive note as global recession fears receded. Key indices Nifty50 climbed 100 points to trade above 17,100 and the S&P BSE Sensex jumped over 350 points to trade at 57,535 levels. Similar strength was reflected in broader markets too, as Nifty MidCap 100 and Nifty SmallCap 100 surged up to 0.6 percent. All sectors opened with marginal gains. Nifty PSU Bank, Nifty Media, Nifty Metal, and Nifty Auto indices climbed up to 1 percent in trade. Read more

India's FY23 GDP growth at 7.3% and inflation above 6%: S&P Global Ratings projection

India's FY23 GDP growth at 7.3% and inflation above 6%: S&P Global Ratings projection

Monday, September 26, 2022

S&P Global Ratings projected India's economic growth at 7.3% in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold. S&P Global Ratings today( 26 September 2022) projected India's economic growth at 7.3 percent in the current fiscal with downside risks and said inflation is likely to remain above RBI's upper tolerance threshold of 6 percent till the end of 2022. In its Economic Outlook for the Asia Pacific, S&P said India's growth next year will get support from domestic demand recovery after the coronavirus pandemic. "We have retained our India growth outlook at 7.3 percent for the fiscal year 2022-2023 and 6.5 percent for the next fiscal year, although we see the risks tilted to the downside," it said. Read more

MARKET UPDATE:Sensex declined over 750 points to trade at 57,282 levels, while Nifty50 shed over 200 points to trade below 17,100 levels

MARKET UPDATE:Sensex declined over 750 points to trade at 57,282 levels, while Nifty50 shed over 200 points to trade below 17,100 levels

Monday, September 26, 2022

Opening Bell: Indian equity markets opened lower today(26 September 2022) as sentiments remain muted overseas. Key indices Nifty50 shed over 200 points to trade below 17,100 levels and the S&P BSE Sensex declined over 750 points to trade at 57,282 levels. Weakness was observed in broader markets, too, as Nifty MidCap 100 and Nifty SmallCap 100 indices dropped over 2 percent each. All sectors were in red with Nifty Auto, Nifty Metal, and Nifty Realty indices bearing the brunt of the worst sell-off. While HUL, Bajaj Finserv, Infosys, Nestle India, and Ultratech Cement, attempted to trim losses for the benchmark indices; Power Grid, M&M, Maruti Suzuki, Tata Steel, and Wipro contributed to the sharp cuts. Among individual stocks, shares of Goa Carbon gained over 2 percent in a weak market after the company planned to mull fundraise on Thursday, September 29.

M&M Finance tanks 14% after RBI orders to stop using third party recovery agents

M&M Finance tanks 14% after RBI orders to stop using third party recovery agents

Friday, September 23, 2022

Shares of Mahindra & Mahindra (M&M) Financial Services tanked 14 percent to Rs 192.05 in Friday’s intra-day trade, after the Reserve Bank of India (RBI) directed the company to immediately cease any recovery or repossession activities via an outsource till further orders. In its order, the RBI also mentioned that the non-banking finance company may continue with recovery or repossession activities through its own employees. The directive comes days after external loan recovery agents of Mahindra Finance allegedly crushed a 27-year-old pregnant woman in Hazaribagh district in Jharkhand to death under a tractor. The agent was forcibly taking the vehicle away, financed by the company, for non-payment of dues, a senior police official had told PTI."This action is based on certain material supervisory concerns observed in the said NBFC, with regard to the management of its outsourcing activities," RBI said in a statement. Read more

MARKET UPDATE:Sensex declined over 250 points to trade at 58,867 levels, while Nifty50 dropped over 50 points to trade below 17,600 levels

MARKET UPDATE:Sensex declined over 250 points to trade at 58,867 levels, while Nifty50 dropped over 50 points to trade below 17,600 levels

Friday, September 23, 2022

Opening Bell: Indian equity markets opened lower in today's (23 September 2022) trade amid weak global cues and rising rate scenarios. Key indices Nifty50 dropped over 50 points to trade below 17,600 levels and the S&P BSE Sensex declined over 250 points to trade at 58,867 levels. The subdued risk appetite was witnessed in broader markets too, as Nifty SmallCap 100 and Nifty MidCap 100 indices slumped over 0.2 percent. All sectors traded on a volatile note. While Nifty Media, Nifty Pharma, and Nifty Metal indices opened with marginal gains; Nifty Bank, Nifty Realty, and Nifty Energy indices slipped the most - nearly 1 percent. Read more

MARKET UPDATE:Sensex declined over 450 points to trade at 58,996 levels, while Nifty50 dropped 100 points to trade below 17,650 levels

MARKET UPDATE:Sensex declined over 450 points to trade at 58,996 levels, while Nifty50 dropped 100 points to trade below 17,650 levels

Thursday, September 22, 2022

Opening Bell: Indian markets opened lower today(22 September 2022) after the US Federal Reserve's 75 basis point rate hike sent global markets into a tailspin. Key indices Nifty50 dropped 100 points to trade below 17,650 levels and the S&P BSE Sensex declined over 450 points to trade at 58,996 levels. Weakness ensued in the broader markets as well, as Nifty MidCap and SmallCap indices slipped up to 0.1 percent. Barring Nifty FMCG and Nifty Media, which opened with marginal gains, most sectors nosedived in negative territory. Nifty IT and Nifty Bank indices declined the most - up to 1 percent. While ITC, HUL, and Nestle India attempted to trim losses for the benchmark indices; Bajaj Finserv, Tech Mahindra, Wipro, and HDFC contributed to the sharp cuts.

MARKET UPDATE:Sensex was flat at 59,707 levels, while Nifty50was flat below 17,800 levels

MARKET UPDATE:Sensex was flat at 59,707 levels, while Nifty50was flat below 17,800 levels

Wednesday, September 21, 2022

Indian markets were flat on today's(21 September 2022) intra-day trade ahead of the US Federal Reserve's interest rate outcome. Key indices Nifty50 were flat below 17,800 levels and the S&P BSE Sensex was flat at 59,707 levels. Broader markets, however, outperformed benchmark indices as Nifty MidCap 100 and Nifty SmallCap 100 climbed up to 0.4 percent. All sectors traded on a volatile note as they swung between gains and losses. Nifty FMCG and Nifty Media indices climbed over 1 percent. On the other hand, Nifty Bank, Nifty Energy, and Nifty Realty indices were bogged down in trade. Read more

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%

Advanced Enzyme surges 12% as Nalanda India Equity Fund ups stake by 3%

Tuesday, September 20, 2022

Shares of enzymes manufacturer Advanced Enzyme Technologies Ltd. jumped 12 percent to Rs 298 on the National Stock Exchange (NSE) on Tuesday's intraday, the most since February this year after Nalanda India Equity Fund increased its stake in the company. On September 20, 2022, Nalanda India Equity Fund purchased 2.91 million equity shares, representing a 2.6 percent stake in Advanced Enzyme Technologies, worth Rs 78.62 crore via block deal, NSE data shows. The sellers in this transaction were the company's promoters, who sold 25.7 lakh shares or 2.5 percent of the total equity. As of the quarter ended June, promoters held a 52.7 percent stake in the company. Nalanda India Equity Fund has been consistently increasing its stake in the company as evident from the data. As of the June quarter, the fund held a 6.2 percent stake in the company worth nearly Rs 200 crore. It had increased its stake in the March quarter this year to 6.1 percent from 4.7 percent last year. Read more

MARKET UPDATE:Sensex climbed over 600 points to trade at 59,761 levels, while Nifty50 rose over 150 points to trade above 17,800 levels

MARKET UPDATE:Sensex climbed over 600 points to trade at 59,761 levels, while Nifty50 rose over 150 points to trade above 17,800 levels

Tuesday, September 20, 2022

Opening Bell: Indian equity markets opened higher today(20 September 2022) amid modest gains overseas. Key indices Nifty50 rose over 150 points to trade above 17,800 levels and the S&P BSE Sensex climbed over 600 points to trade at 59,761 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged over 1 percent each. All sectors started in positive territory, as Nifty IT and Nifty Media indices led the charge - up over 1 percent. IndusInd Bank, Tech Mahindra, HCL Technologies, Bajaj Finserv, and Infosys, were the top contributors to benchmark indices. Read more

Will MPC raise repo rate 35-50 bps?

Will MPC raise repo rate 35-50 bps?

Monday, September 19, 2022

A heightened pace of policy tightening by central banks in advanced economies is increasing pressure on the RBI to continue front-loading rate hikes in order to maintain adequate interest rate differentials, analysts opined. Also, many financial experts expect the RBI to lower the GDP growth estimate to 7%. The Reserve Bank of India’s (RBI’s) Monetary Policy Committee (MPC) is likely to lift the policy repo rate by 35-50 basis points (bps) on September 30, as it seeks to bring back elevated domestic inflation within its target range.

MARKET UPDATE:Sensex traded at 58,828 levels, while Nifty50 opened flat to trade above 17,500 levels

MARKET UPDATE:Sensex traded at 58,828 levels, while Nifty50 opened flat to trade above 17,500 levels

Monday, September 19, 2022

Opening Bell: Indian equity markets opened flat today ( 19 September 2022) amid weak global cues due to rate hike fears. Key indices Nifty50 opened flat to trade above 17,500 levels and the S&P BSE Sensex traded at 58,828 levels. Broader markets, too, edged lower in the trade as Nifty SmallCap 100 and Nifty MidCap100 declined up to 1 percent. Barring Nifty PSU Bank, all sectors nosedived in negative territory. Nifty Media, Nifty Pharma, and Nifty Realty indices dropped the most - up to 1 percent. While Bajaj Finserv, Infosys, and Axis Bank, helped trim losses for the benchmark indices; HCL Technologies, Asian Paints, Dr. Reddy's, and Titan, contributed to the sharp cuts. Read more

MARKET UPDATE:Sensex declined over 400 points to trade at 59,533 levels, while Nifty50 opened over 100 points lower to trade below 17,800 levels

MARKET UPDATE:Sensex declined over 400 points to trade at 59,533 levels, while Nifty50 opened over 100 points lower to trade below 17,800 levels

Friday, September 16, 2022

Opening Bell: Indian equity markets opened lower today(16 September 2022) amid weak global cues. Frontline indices Nifty50 opened over 100 points lower to trade below 17,800 levels and the S&P BSE Sensex declined over 400 points to trade at 59,533 levels. Low-risk appetite instilled weakness in broader markets too, as Nifty Midcap 100 and Nifty Smallcap 100 dropped up to 0.3 percent. Tech Mahindra, M&M, Wipro, Maruti Suzuki, Infosys, and TCS, contributed to the sharp cuts in benchmark indices. Sun Pharma, Bajaj Finance, and Asian Paints, however, helped trim losses. All sectors plunged in the sea of red - Nifty Auto, Nifty Metal, and Nifty IT indices slipped the most, over 1 percent. Read more

MARKET UPDATE:Sensex climbed over 250 points to trade at 60,632 levels, while Nifty50 rose over 50 points to trade above 18,050 levels

MARKET UPDATE:Sensex climbed over 250 points to trade at 60,632 levels, while Nifty50 rose over 50 points to trade above 18,050 levels

Thursday, September 15, 2022

Opening Bell: Modest recovery in global markets spilled strength in Indian equity markets today (15 September 2022). Frontline indices Nifty50 rose over 50 points to trade above 18,050 levels and the S&P BSE Sensex climbed over 250 points to trade at 60,632 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.9 percent. Kotak Mahindra Bank, NTPC, M&M, HUL, ITC, and Maruti Suzuki were top contributors to the benchmark indices. Meanwhile, Tata Steel, Infosys, and IndusInd Bank weighed them down. Barring Nifty Media, all sectors started to trade on a positive note with marginal gains. Nifty Bank index hit an all-time high of 41,829. Read more

MARKET UPDATE: BSE Sensex climbed over 350 points to trade above 60,000 levels and the Nifty50 rose 100 points to trade above 17,900 levels

MARKET UPDATE: BSE Sensex climbed over 350 points to trade above 60,000 levels and the Nifty50 rose 100 points to trade above 17,900 levels

Friday, September 9, 2022

Opening Bell: Indian markets opened on a positive note in today's(9 September 2022) trade amidst mixed global cues. Frontline indices Nifty50 rose 100 points to trade above 17,900 levels and the S&P BSE Sensex climbed over 350 points to trade above 60,000 levels. Broader markets, too, climbed in tandem as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6 percent. IndusInd Bank, ICICI Bank, SBI, HUL, and Tata Steel were top contributors to the benchmark indices. All sectors opened in green with Nifty Bank and Nifty Metal indices leading the charge.

MARKET UPDATE: Sensex climbed over 450 points to trade at 59,513 levels and the Nifty50 rose 100 points to trade above 17,700 levels

MARKET UPDATE: Sensex climbed over 450 points to trade at 59,513 levels and the Nifty50 rose 100 points to trade above 17,700 levels

Thursday, September 8, 2022

Opening Bell: Indian markets opened positively in today's (8 September 2022) trade amid firm global cues. Frontline indices Nifty50 rose 100 points to trade above 17,700 levels and the S&P BSE Sensex climbed over 450 points to trade at 59,513 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 1 percent. Tech Mahindra, Asian Paints, IndusInd Bank, ICICI Bank, and Infosys were the top contributors to the benchmark indices. All sectors opened in positive territory with Nifty IT and Nifty PSU Bank indices leading the trade. Among individual stocks, shares of NDTV hit a 5 percent lower circuit for the second consecutive day. Besides, shares of Max Ventures and Industries gained 2 percent after the company planned to buy Acreage Builders for Rs 322.5 crore.

MARKET UPDATE: Sensex dropped 400 points to trade at 58,769 levels and the Nifty50 declined 100 points to trade below 17,550 levels

MARKET UPDATE: Sensex dropped 400 points to trade at 58,769 levels and the Nifty50 declined 100 points to trade below 17,550 levels

Wednesday, September 7, 2022

Opening Bell: Indian markets opened weak in today's (7 September 2022) trade amidst dull global cues. Frontline indices Nifty50 declined 100 points to trade below 17,550 levels and the S&P BSE Sensex dropped 400 points to trade at 58,769 levels. Broader markets, however, outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 gained up to 0.2 percent. While Bharti Airtel, IndusInd Bank, and HDFC pulled the indices down; HUL, Dr. Reddy's, and Nestle India helped trim losses. All sectors plunged in a sea of red with Nifty IT, Nifty Bank, and Nifty Realty indices battered in trade. Among individual stocks, shares of Paras Defence gained 3 percent after the company inked a pact with Czech Republic's ELDIS Pardubice.

Working on road map to advanced economy: FM Nirmala Sitharaman

Working on road map to advanced economy: FM Nirmala Sitharaman

Tuesday, September 6, 2022

“The next 25 years will be very critical for India. We have to work towards maintaining the growth momentum. So together with the central bank, the ministry of finance will be working out a pathway which will be predictable and consistent and which will give every stimulus required for growth of the Indian economy,” Sitharaman said while speaking at an event organised by Elara Capital. Prime Minister Narendra Modi in his address to the nation on August 15 had called upon citizens to make India a developed nation when it celebrates 100 years of Independence in 2047. Read more

MARKET UPDATE: Sensex rose 300 points to 59,540, and the Nifty50 gained 81 points to 17,747

MARKET UPDATE: Sensex rose 300 points to 59,540, and the Nifty50 gained 81 points to 17,747

Tuesday, September 6, 2022

Opening Bell: Indian equity markets opened with nominal gains today(6 September 2022) tracking strength in Asian markets, which rose up to 1 percent. The BSE Sensex rose 300 points to 59,540, and the NSE Nifty50 gained 81 points to 17,747. Barring ITC and Nestle, all Sensex stocks opened higher. NTPC, IndusInd Bank, Reliance, Maruti, Powergrid, and Bharti Airtel were the top winners, up to 1 percent higher. The broader markets also started in green. The BSE MidCap and SmallCap indices were up to 0.7 percent higher. DreamFolks Services is set to make its debut today. The IPO was subscribed 56.68 times, and the issue price is fixed at Rs 326. As per IPO Watch, DreamFolks could list up to 30 percent higher than the issue price.

MARKET UPDATE: Sensex opened 200 points higher topping 59,000, and Nifty50 gained 55 points to 17,594

MARKET UPDATE: Sensex opened 200 points higher topping 59,000, and Nifty50 gained 55 points to 17,594

Monday, September 5, 2022

Opening bell: Indian equity markets opened with tepid gains today(5 September 2022) as global sentiment remained mixed. The BSE Sensex opened 200 points higher topping 59,000, and the NSE Nifty50 gained 55 points to 17,594. On the Sensex, NTPC, Tata Steel, HCL Tech, Tech M, IndusInd Bank, and ICICI Bank were the top winners, while six stocks opened lower led by Nestle, Dr. Reddy's, and Wipro, which fell up to 0.4 percent. The broader markets are also firmly higher. The BSE MidCap and SmallCap indices rose up to 0.7 percent. Tamilnad Mercantile Bank’s three-day IPO offer will open for subscription today. The private sector lender has fixed the price band at Rs 500-525 per share for its Rs 832-crore initial share offer.

MARKET UPDATE: Sensex climbed over 200 points to trade at 58,979 levels and the Nifty50 rose over 50 points to trade above 17,600 levels

MARKET UPDATE: Sensex climbed over 200 points to trade at 58,979 levels and the Nifty50 rose over 50 points to trade above 17,600 levels

Friday, September 2, 2022

Opening Bell: Indian markets opened on a positive note in today's(2nd September 2022) trade amid mixed global cues. Frontline indices Nifty50 rose over 50 points to trade above 17,600 levels and the S&P BSE Sensex climbed over 200 points to trade at 58,979 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.7 percent. All sectors opened in the green zone with marginal gains. Nifty Energy bucked the trend as the index gained over 1 percent in trade. NTPC, Bajaj Finserv, and Kotak Bank were top contributors to the benchmark indices. Meanwhile, Nestle India and Maruti Suzuki weighed on the indices. Among individual stocks, shares of Adani Enterprises hit a 52-week high of Rs 3,290 per share on reports of inclusion in the Nifty50 index. Besides, shares of NTPC surged 3 percent after the state-run power giant received bids for a minority stake sale for its green unit.

MARKET UPDATE:Sensex declined over 800 points to trade at 58,734 levels and the Nifty50 opened over 200 points lower to trade below 17,550 levels

MARKET UPDATE:Sensex declined over 800 points to trade at 58,734 levels and the Nifty50 opened over 200 points lower to trade below 17,550 levels

Thursday, September 1, 2022

Opening Bell: Bears pulled markets lower today( 1 September 2022) amid weak global sentiments. Frontline indices Nifty50 opened over 200 points lower to trade below 17,550 levels, while the S&P BSE Sensex declined over 800 points to trade at 58,734 levels. Broader markets, too, declined in tandem as Nifty Smallcap 100 and Nifty Midcap 100 slipped up to 0.5 percent. Sectorwise, barring Nifty Realty, all sectoral indices dropped into negative territory. Nifty IT and Nifty Bank faced the worst brunt as both indices dropped over 1 percent each.

Gautam Adani becomes world’s third-richest person

Gautam Adani becomes world’s third-richest person

Tuesday, August 30, 2022

Gautam Adani is now the third richest person in the world, according to the latest Bloomberg Billionaires data. The Indian businessman, a college dropout who first tried his luck as a diamond trader before turning to coal, this week became the world’s third-richest person. Adani, who runs one of India's top conglomerates, is now believed to be worth approximately $137 billion, the tracker shows. While Telsa chief Musk has a net worth of $251 billion, Amazon founder and CEO Amazon - Jeff Bezos - has a total worth of $153 billion. Gautam Adani has surpassed French business magnate Bernard Arnault, the co-founder of LVMH Moet Hennessy Louis Vuitton, commonly known as LVMH, a world leader in luxury fashion. Adani, 60, has spent the past few years expanding his coal-to-ports conglomerate, venturing into everything from data centers to cement, media, and alumina. Read more

India's GDP is estimated to rise 15.4% in the three months to June from a year ago-Bloomberg survey

India's GDP is estimated to rise 15.4% in the three months to June from a year ago-Bloomberg survey

Tuesday, August 30, 2022

Last quarter economy of India probably grew at the fastest rate in a year driven by healthy consumption, but the pace of expansion is seen slowing as policymakers prioritize rising prices overgrowth. Gross domestic product is estimated to rise 15.4% in the three months to June from a year ago, according to a Bloomberg survey of economists. That’s the fastest reading since the April-June quarter of 2021 and compares with a 4.09 expansion in the previous three months. Read more

MARKET UPDATE:Sensex climbed 400 points to trade at 58,392 levels and the Nifty50 rose over 100 points to trade above 17,450 levels

MARKET UPDATE:Sensex climbed 400 points to trade at 58,392 levels and the Nifty50 rose over 100 points to trade above 17,450 levels

Tuesday, August 30, 2022

Opening Bell: Markets opened on a positive note in today's(30 August 2022) trade amid mixed global cues. Frontline indices Nifty50 rose over 100 points to trade above 17,450 levels and the S&P BSE Sensex climbed 400 points to trade at 58,392 levels. Broader markets, meanwhile, outperformed benchmark indices as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.9 percent. Bajaj Twins, IndusInd Bank, Axis Bank, and Tata Steel, were top contributors to the benchmark indices. Meanwhile, Reliance Industries and Bharti Airtel weighed on the indices. All sectors opened in the green zone with Nifty Media, Nifty Metal, and Nifty Energy indices rising over 1 percent each. Among individual stocks, shares of Ashok Leyland gained 1 percent after the automaker announced 6 new models for their LCV range.

MARKET UPDATE:Sensex crashed over 1,300 points to trade at 57,520 levels and the Nifty50 declined over 350 points to trade below 17,200 levels

MARKET UPDATE:Sensex crashed over 1,300 points to trade at 57,520 levels and the Nifty50 declined over 350 points to trade below 17,200 levels

Monday, August 29, 2022

Opening Bell: Markets opened lower in today's(29 August 2022) trade amid weak global sentiments marked by fear of rising interest rates. Frontline indices Nifty50 declined over 350 points to trade below 17,200 levels, while the S&P BSE Sensex fell over 1,300 points to trade at 57,520 levels. Broader markets, too, declined in tandem as Nifty Smallcap 100 and Nifty Midcap 100 dropped over 2 percent. All sectors were in red with Nifty IT, Nifty PSU Bank, and Nifty Realty indices battered in trade. Among individual stocks, shares of Reliance Industries slipped nearly 1 percent ahead of their 45th Annual General Meeting.

CLOSING BELL: Sensex ended at 58,834, up 59 points and the Nifty50 shut shop at 17,559, up 36 points

CLOSING BELL: Sensex ended at 58,834, up 59 points and the Nifty50 shut shop at 17,559, up 36 points

Friday, August 26, 2022

CLOSING BELL: It was a range-bound trade on the bourses today(26 August 2022) as investors awaited US Fed chief Jerome Powell's address at the Jackson Hole Symposium later tonight. The S&P BSE Sensex traded between 58,723 and 59,321, and ended at 58,834, up 59 points or 0.1 per cent. The NSE Nfty50, meanwhile, shut shop at 17,559, up 36 points or 0.21 percent. It touched a high of 17,686 and a low of 17,519 on the NSE. In the broader markets, the Nifty MidCap 100 and the Nifty SmallCap 100 settled up to 0.7 percent higher. Sector-wise, the Nifty Metal index rose 1.7 percent, followed by the Nifty PSU Bank index, up 1 percent. On the flipside, the Nifty Private bank index fell 0.3 percent. Read more

Sensex climbed over 450 points at 59,248 levels and the Nifty50 rose over 100 points to trade above 17,650 levels

Sensex climbed over 450 points at 59,248 levels and the Nifty50 rose over 100 points to trade above 17,650 levels

Friday, August 26, 2022

Opening Bell: Indian markets opened today (26 August 2022) on a positive note amid firm global cues. Frontline indices Nifty50 rose over 100 points to trade above 17,650 levels and the S&P BSE Sensex climbed over 450 points at 59,248 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 1 percent. M&M, Tata Steel, Titan, and Infosys were top contributors to the benchmark indices. Meanwhile, Bharti Airtel, Dr Reddy's, Asian Paints weighed on the indices. All sectors opened in the green zone with Nifty Auto, Nifty Metal, and Nifty PSU Bank leading the pack. Among individual stocks, shares of Titan gained 2 percent on the company's expansion plans overseas. Besides, shares of Nelco soared 10 percent post-tie-up with Intelsat on in-flight connectivity services.

MARKET UPDATE:Sensex climbed over 250 points at 59,326 levels and the Nifty50 rose over 50 points to trade above 17,650 levels

MARKET UPDATE:Sensex climbed over 250 points at 59,326 levels and the Nifty50 rose over 50 points to trade above 17,650 levels

Thursday, August 25, 2022

Opening Bell: Indian markets opened on a positive note in today's(25 august 2022) trade on the BSE amid strong global cues. Frontline indices Nifty50 rose over 50 points to trade above 17,650 levels and the S&P BSE Sensex climbed over 250 points at 59,326 levels. Broader markets, too, reflected similar resilience as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.7 percent. All sectors turned in the green zone. Nifty Media, Nifty Realty, and Nifty IT lead the charge. Bharti Airtel, Tata Steel, Titan, and HUL were top contributors to the benchmark indices. Meanwhile, Asian Paints and Nestle India weighed on the indices. Among individual stocks, shares of NHPC gained 2 percent after the subsidiary signed MoU with the government of Rajasthan. Besides, shares of RBL Bank soared over 23 percent in three days after the board cleared the Rs 3,000 crore fundraising.

CLOSING BELL: Sensex closed at 59,085, up 54 points and the Nifty50, ended 27 points higher at 17,605

CLOSING BELL: Sensex closed at 59,085, up 54 points and the Nifty50, ended 27 points higher at 17,605

Wednesday, August 24, 2022

Indian equities whipsawed in trade today(24 August 2022) as investors juggled between expensive valuation, tepid global mood, and robust domestic outlook. The S&P BSE Sensex closed at 59,085, up 54 points or 0.09 percent. The NSE Nifty50, meanwhile, ended 27 points, or 0.16 percent, higher at 17,605. In the broader markets, the BSE MidCap and SmallCap indices advanced 0.7 percent each. Sector-wise, the Nifty Media index climbed 1.7 percent, the Nifty Realty added 1.8 percent, and the Nifty Private Bank index gained 1.6 percent. On the flipside, the Nifty IT and Pharma slipped 0.3 percent each. Read more

MARKET UPDATE:Sensex inched above 59,000 levels and the Nifty50 climbed above 17,550 levels

MARKET UPDATE:Sensex inched above 59,000 levels and the Nifty50 climbed above 17,550 levels

Wednesday, August 24, 2022

Opening Bell: Markets opened on a flat note amid weak global cues today(24 August 2022). Frontline indices Nifty50 climbed above 17,550 levels, whereas the S&P BSE Sensex inched above 59,000 levels. Broader markets marched forward in the trade as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.5 percent. Sector-wise, Nifty Media and Nifty Realty opened with marginal gains. Nifty Auto and Nifty Financial Services, however, opened with minor losses. IndusInd Bank, ITC, Sun Pharma, and TCS supported the benchmark indices, whereas, Bharti Airtel, Asian Paints, and Maruti weighed on the benchmark indices. Besides, shares of NDTV hit 5 percent upper circuit as Adani Group plans to acquire a 29.1 percent stake.

MARKET UPDATE:Sensex was up 200 points near 59,000 level and the Nifty50 above the 17,550-mark, rising over 70 points

MARKET UPDATE:Sensex was up 200 points near 59,000 level and the Nifty50 above the 17,550-mark, rising over 70 points

Tuesday, August 23, 2022

Opening Bell: In a sharp rebound, equity markets reversed morning losses and were trading with decent gains today(23 August 2022). Frontline Nifty50 index was back above the 17,550-mark, rising over 70 points, while the S&P BSE Sensex was up 200 points near 59,000 levels. Broader markets, too, recouped losses as the Nifty Midcap 100 and Nifty Smallcap 100 advanced up to 0.9 percent. While NTPC, M&M, and Sun Pharma were supporting the indices to trim losses; Infosys, Wipro, and Tech Mahindra weighed heavily on the indices. . All sectors opened in the negative zone with Nifty IT and Nifty Metal indices battered in trade. Among individual stocks, shares of Infosys dropped over 2 percent after the IT major slashed the average variable payout for the June quarter. Besides, shares of RBL Bank gained over 2 percent after the board approved fund raise of Rs 3,000 crore.

MARKET UPDATE:Sensex declined over 650 points to 58,986 level and the Nifty50 extended loss over 150 points lower to trade below 17,600 levels

MARKET UPDATE:Sensex declined over 650 points to 58,986 level and the Nifty50 extended loss over 150 points lower to trade below 17,600 levels

Monday, August 22, 2022

Bears pulled markets into negative territory today (22 August 2022) as Nifty50 extended a loss of over 150 points lower to trade below 17,600 levels. The S&P BSE Sensex declined over 650 points to 58,986 levels. Broader markets, too, edged lower in the trade as Nifty Midcap 100 and Nifty Smallcap 100 slipped over 1 percent each. Barring Nifty FMCG, all sectors dropped in the negative zone with Nifty IT, Nifty Realty, and Nifty IT indices the most battered trade. Among individual stocks, shares of Adani Power hit a 52-week high of Rs 427 per share after the company acquired DB Power for around Rs 7,000 crore. Besides, shares of Delhivery shed over 5 percent after the logistics firm net loss widened to Rs 399 crore in Q1FY23.

MARKET UPDATE:Sensex climbed over 300 points at 59,793 levels and the Nifty50 rose over 50 points to trade above 17,750 levels

MARKET UPDATE:Sensex climbed over 300 points at 59,793 levels and the Nifty50 rose over 50 points to trade above 17,750 levels

Tuesday, August 16, 2022

Opening Bell: Markets opened higher in today's ( 16 august 2022) trade on the BSE amid positive global cues. Frontline indices Nifty50 rose over 50 points to trade above 17,750 levels, while the S&P BSE Sensex climbed over 300 points at 59,793 levels. Broader markets, too, rose in tandem as Nifty Midcap 100 and Nifty Smallcap 100 surged up to 0.6 percent. Sector-wise, Nifty Auto, Nifty Bank, and Nifty IT were the winners. Nifty Metal, however, was the sole sectoral loser in the trade. Among individual stocks, shares of Mahindra & Mahindra (M&M) hit a 52-week high of Rs 1,298 per share after the auto major launched five new electric SUVs.

MARKET UPDATE:Sensex shed 100 points to trade at 59,226 levels and the Nifty50 slipped below 17,650 levels

MARKET UPDATE:Sensex shed 100 points to trade at 59,226 levels and the Nifty50 slipped below 17,650 levels

Friday, August 12, 2022

Opening Bell: Indian markets opened flat in today's(12 august 2022) trade on the BSE. Frontline indices Nifty50 slipped below 17,650 levels and the S&P BSE Sensex shed 100 points to trade at 59,226 levels Broader markets outperformed benchmark indices as Nifty Smallcap 100 and Nifty Midcap 100 surged up to 0.2 percent. Power Grid, NTPC, Tata Steel, SBI, and IndusInd Bank were the top contributors to the benchmark indices. Maruti, Nestle India, and Tech Mahindra, on the other hand, weighed on benchmark indices Sector-wise, Nifty Realty and Nifty Metal led the pack. Nifty IT, Nifty Auto, and Nifty Media, however, were losers in the trade. Among individual stocks, shares of Oil India climbed 1 percent after the state explorer tripled its net profit to Rs 1,555.4 crore in Q1FY23

MARKET UPDATE:Sensex surges 500pts, Nifty50 above 17,700 in pre-open deals

MARKET UPDATE:Sensex surges 500pts, Nifty50 above 17,700 in pre-open deals

Thursday, August 11, 2022

Opening Bell: The Indian equity markets are likely to open on a positive note amid supportive global cues. As of 7:50 AM, the SGX Nifty Futures quoted 17,743 levels, indicating a gap up open of over 200 odd points on the Nifty50. Globally, better-than-expected US inflation data at 8.5 percent in July cheered Wall Street on Wednesday. Dow Jones jumped 500 points to 1.6 percent, while the S&P 500 climbed 2.1 percent, and NASDAQ Composite advanced 2.8 percent. Asia-Pacific markets followed suit and climbed in Thursday's morning trade. Australia's S&P 200 rose 0.9 percent, while South Korea's Kospi was 1.3 percent higher. Read more

MARKET UPDATE:Sensex at 58,822 levels and the Nifty50 rose 18 points to trade above 17,500 levels

MARKET UPDATE:Sensex at 58,822 levels and the Nifty50 rose 18 points to trade above 17,500 levels

Wednesday, August 10, 2022

Opening Bell: The Indian markets opened flat in today's(10 August 2022) trade on the BSE amid weak global cues. Frontline indices Nifty50 rose 18 points to trade above 17,500 levels, whereas the S&P BSE Sensex was at 58,822 levels. Broader markets, however, were positive in the trade as Nifty Midcap 100 and Nifty Small Cap 100 gained up to 0.2 percent. Nestle India, Sun Pharma, ICICI Bank, Power Grid, and Bharti Airtel were the top contributors to benchmark indices. Sectorally, Nifty led Auto and Nifty FMCG indices led the charge. Nifty IT and Nifty Realty, however, were bogged down in trade. Read more

MARKET UPDATE:Sensex shed 100 points at 58,299 levels and the Nifty50 was down 30 points to trade below 17,400 mark

MARKET UPDATE:Sensex shed 100 points at 58,299 levels and the Nifty50 was down 30 points to trade below 17,400 mark

Monday, August 8, 2022

Opening Bell: Indian equity markets opened weak today's(8 August 2022) trade on BSE amid weak global sentiments. Benchmark indices Nifty50 was down 30 points to trade below the 17,400 mark, whereas the S&P BSE Sensex shed 100 points at 58,299 levels. Broader markets, too, reflected the tepid mood as Nifty Midcap 100 underperformed Nifty Smallcap 100 and lost 0.06 percent in trade. sector-wise, Nifty Metal, Nifty Pharma, and Nifty Auto defied the overall market mood. However, Nifty PSU Bank and Nifty Realty were bogged down in trade. Among individual stocks, shares of Titan gained over 1 percent after net profit jumped three-fold to Rs 790 crore in Q1FY23. Besides, shares of Adani Ports climbed 0.7 percent ahead of their Q1FY23 results.

MARKET UPDATE:Sensex climbed over 200 points to trade at 58,517 levels and Nifty50 rose 40 points to trade above 17,400 levels

MARKET UPDATE:Sensex climbed over 200 points to trade at 58,517 levels and Nifty50 rose 40 points to trade above 17,400 levels

Friday, August 5, 2022

The Indian equity markets steered in a positive direction after the Reserve Bank of India (RBI) hiked repo rates by 50 basis points (bps) to 5.4 percent. With this rate-hike cycle, the Indian central bank has raised interest rates by 140 bps so far. Frontline indices like Nifty50 rose 40 points to trade above 17,400 levels, whereas the S&P BSE Sensex climbed over 200 points to trade at 58,517 levels. Rate-sensitive sectors like Nifty Bank and Nifty Realty gain up to 0.4 percent. Nifty Auto, however, was down 0.1 percent in trade.

MARKET UPDATE:Sensex up 300 points to 58,676.8 levels and the Nifty50 opened over 50 points higher to trade above 17,450 levels

MARKET UPDATE:Sensex up 300 points to 58,676.8 levels and the Nifty50 opened over 50 points higher to trade above 17,450 levels

Thursday, August 4, 2022

Opening Bell: Bulls drove Indian markets higher as they opened in positive territory at the BSE today(4 August 2022). Frontline indices Nifty50 opened over 50 points higher to trade above 17,450 levels, whereas the S&P BSE Sensex was up 300 points to 58,676.8 levels. The strength spilled across broader markets as Nifty Midcap 100 and Nifty Smallcap 100 climbed up to 0.8 percent. Hindalco, Infosys, Shree Cements, UPL, IndusInd Bank, Ultratech Cement, TCS, Bajaj Finserv, and Axis Bank were the top contributors to the benchmark indices. Sector-wise, Nifty IT and Nifty Media led the upside. Nifty Realty, however, was the sore sectoral loser. Read more

MARKET UPDATE:Sensex climbed 100 points to 58,245 levels and the Nifty50 rose 33 points above 17,350 levels

MARKET UPDATE:Sensex climbed 100 points to 58,245 levels and the Nifty50 rose 33 points above 17,350 levels

Wednesday, August 3, 2022

Opening Bell: The Indian equity markets today(3 August 2022) opened on a positive note at the BSE despite mixed global cues. Frontline indices Nifty50 rose 33 points above 17,350 levels and the S&P BSE Sensex climbed 100 points to 58,245 levels. While Eicher Motors, JSW Steel, and Cipla were the top contributors to the 50-packed index, Bharti Airtel, Reliance, and Tata Steel were top contributors to the S&P BSE Sensex. Broader markets, meanwhile, were mixed in trade. Nifty Midcap 100 was down 0.1 percent, whereas Nifty Smallcap 100 surged 0.3 percent. Sector-wise, Nifty Metal, and Nifty Pharma opened with marginal gains. However, Nifty Auto and Nifty Media indices were bogged down in trade. Read more

MARKET UPDATE:Sensex down over 150 points to 57,929 levels and the Nifty50 slipped over 50 points below 17,300 levels

MARKET UPDATE:Sensex down over 150 points to 57,929 levels and the Nifty50 slipped over 50 points below 17,300 levels

Tuesday, August 2, 2022

Opening Bell: The Indian markets opened choppy today (2 August 2022) morning at the BSE amid weak global sentiments. Frontline indices Nifty50 slipped over 50 points below 17,300 levels, whereas the S&P BSE Sensex was down over 150 points to 57,929 levels. Also, broader markets were under pressure as Nifty Midcap 100 and Nifty Smallcap 100 declined 0.2 percent and 0.1 percent, respectively. Sector-wise, the Nifty Metal index bled over 1 percent in trade. However, Nifty FMCG and Nifty Media indices opened with marginal gains. Read more

MARKET UPDATE:Sensex climbed to 57,823 levels and the Nifty rose to 17,222 levels

MARKET UPDATE:Sensex climbed to 57,823 levels and the Nifty rose to 17,222 levels

Monday, August 1, 2022

Opening bell: Indian markets opened in positive territory today(1st August 2022) at BSE. Nifty50 rose 0.3 per cent, to 17,222 levels, while the S&P BSE Sensex climbed 0.2 per cent to 57,823 levels. Broader markets, too, were exuberant in the trade as Nifty Midcap 100 and Nifty Smallcap 100 inched higher up to 0.5 percent. Sector-wise, Nifty Auto and Nifty Media hogged the limelight as they climbed to 2 percent in trade. UPL surged 2.09 percent among individual stocks ahead of their June quarter results (Q1FY23). Besides, shares of Zee Entertainment were up 3.6 percent in trade after exchanges approved their merger with Sony Pictures Networks India.

MARKET UPDATE:Sensex soared 500 points to 57,354, and the Nifty50 advanced 160 points to 17,090

MARKET UPDATE:Sensex soared 500 points to 57,354, and the Nifty50 advanced 160 points to 17,090

Friday, July 29, 2022

OPENING BELL: The Indian markets opened firmly higher today(29 July 2022) tracking strength in US markets overnight. The BSE Sensex soared 500 points to 57,354, and the NSE Nifty50 advanced 160 points to 17,090. Tata Steel, Bajaj Finserv, Power Grid, Titan, M&M, L&T, Wipro, and Nestle led gains on the Sensex, up to 2 percent higher. On the downside, Dr. Reddy's slipped the most, down 4 percent after weak Q1 results. It also pulled down other pharma majors with Sun Pharma, Cipla, and Divi's Labs sliding up to 1 percent. Read more

MARKET UPDATE:Sensex rose 500 points to 56,313, and the Nifty gained 120 points to 16,760

MARKET UPDATE:Sensex rose 500 points to 56,313, and the Nifty gained 120 points to 16,760

Thursday, July 28, 2022

OPENING BELL: The Indian markets perked up today(28 July 2022), opening firmly higher after the US Fed hinted at slowing down rate hikes eventually, which lifted global stocks. The BSE Sensex rose 500 points to 56,313, and the NSE Nifty50 gained 120 points to 16,760. All Sensex stocks opened higher. Bajaj Finance led gains on the index, up over 5 percent. Bajaj Finserv moved 4 percent higher. Tata Steel, IndusInd Bank, Infosys, Wipro, Axis Bank, and Kotak Bank were the other notable winners. On the downside, Dr. Reddy's and Sun Pharma came under pressure, slipping up to 2 percent. Bharti Airtel, ITC, and Nestle were also subdued. In the broader markets, Nifty500, Nifty MidCap 50, and Nifty SmallCap 50 also sat in green, up to 0.7 percent higher. Read more

MARKET UPDATE:Sensex down 11 points to 55,257 and the Nifty around the previous close at 16,472

MARKET UPDATE:Sensex down 11 points to 55,257 and the Nifty around the previous close at 16,472

Wednesday, July 27, 2022

OPENING BELL: The Indian markets opened flat today(27 July 2022) tracking global peers that were also subdued. The BSE Sensex was down 11 points to 55,257 and the NSE Nifty50 was around the previous close at 16,472. L&T, Maruti, M&M, Power Grid, Asian Paints, TCS, and Ultratech Cement were the top Sensex winners, while Bharti Airtel, Dr. Reddy's, Titan, Kotak Bank, and HUL led losses. The broader markets also suffered losses. The BSE MidCap and SmallCap indices were up to 0.3 percent lower. Sector-wise, Nifty consumer durables slipped the most, down over 1 percent. All other pockets also turned negative soon after opening. Nifty IT was flat. Read more

MARKET UPDATE:Sensex fell 200 points to 55,560, and Nifty slipped 65 points to 16,565

MARKET UPDATE:Sensex fell 200 points to 55,560, and Nifty slipped 65 points to 16,565

Tuesday, July 26, 2022

OPENING BELL: The Indian markets had a tepid opening today(26 July 2022) amid sombre global mood as investors turn cautious ahead of the US Fed rate decision on Wednesday. The BSE Sensex fell 200 points to 55,560, and the NSE Nifty50 slipped 65 points to 16,565. Bajaj twins, Tech M, Tata Steel, ITC, and SBI were the only gainers on the Sensex, while Axis Bank, Dr. Reddy's, Asian Paints Maruti, and Infosys were the top losers. The broader markets also opened in the red. The BSE MidCap and SmallCap indices were up to 0.3 percent lower.

MARKET UPDATE:Sensex fell over 200 points to 55,890, and the Nifty slipped 42 points to 16,680

MARKET UPDATE:Sensex fell over 200 points to 55,890, and the Nifty slipped 42 points to 16,680

Monday, July 25, 2022

Opening Bell: The Indian markets started the new week today (25 July 2022) on a weak footing in line with the subdued global trends and earnings impact. The BSE Sensex fell over 200 points to 55,890, and the NSE Nifty50 slipped 42 points to 16,680. Reliance led Sensex losses, dropping 2.5 percent after brokerages cut the company's earnings estimates after its Q1 miss. Tech M, Infosys, Ultratech Cement, Kotak Bank, and TCS were the other top laggards, while ICICI Bank, Bajaj Finance, and Tata Steel were the top winners. Read more

MARKET UPDATE:Sensex rose 250 points to 55,916, and the Nifty gained 72 points to 16,677

MARKET UPDATE:Sensex rose 250 points to 55,916, and the Nifty gained 72 points to 16,677

Friday, July 22, 2022

Opening Bell: Indian markets opened higher today(22 July 2022) tracking strength in global markets. The BSE Sensex rose 250 points to 55,916, and the NSE Nifty50 gained 72 points to 16,677. Ultratech Cement, Tata Steel, Nestle, Tech M, M&M, Kotak Bank, Asian Paints, SBI, and HDFC were the top winners on the Sensex. UPL, Eicher Motors, and Adani Ports were the additional gainers on the Nifty. Infosys, IndusInd Bank, L&T, Bajaj Finance, Divis Labs, and ONGC were the top index losers. Read more

Droupadi Murmu becomes India's first tribal President

Droupadi Murmu becomes India's first tribal President

Friday, July 22, 2022

Droupadi Murmu (64) made history by becoming India’s first tribal president. Fielded by the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA), Murmu got more than 64 percent of the votes cast, and at least 20 opposition votes, winning the election by a massive margin, defeating common opposition candidate Yashwant Sinha (84) and winning voters in the electoral college with her charm, simplicity and determined conviction protect tribal identity. Tribal chiefs from all over the country are planning to troop into Delhi to felicitate the new president when she takes oath on July 25, putting on display a new, different, iridescent India. Read more

MARKET UPDATE:Sensex fell 100 points to 55,305, and the Nifty slipped 30 points to 16,490

MARKET UPDATE:Sensex fell 100 points to 55,305, and the Nifty slipped 30 points to 16,490

Thursday, July 21, 2022

The Indian equity markets opened weak today(21 July 2022) amid mixed cues from overseas. Weekly F&O expiry was also weighed. The BSE Sensex fell 100 points to 55,305, and the NSE Nifty50 slipped 30 points to 16,490. IndusInd Bank, Sun Pharma, M&M, Maruti, and Bharti Airtel were the top gainers on the Sensex, while Wipro, L&T, Kotak Bank, Infosys, TCS, and Asian Paints slipped up to 1.8 percent. The broader markets, meanwhile, opened in green. The BSE MidCap and SmallCap indices were up to 0.17 percent higher. Sectorwise, Nifty FMCG, Realty, Metal, and Auto held gains. While IT index suffered the most losses as Wipro dragged other peers. Read more

CLOSING BELL:Sensex stood at 55,397, up 630 points while Nifty reclaimed the 16,500-mark to end at 16,521, up 180 points

CLOSING BELL:Sensex stood at 55,397, up 630 points while Nifty reclaimed the 16,500-mark to end at 16,521, up 180 points

Wednesday, July 20, 2022

The market sentiment on Dalal Street was lifted today(20 July 2022) on Supportive global cues amid consistently falling commodity prices, and the government's decision to cut windfall tax on fuel exports. The S&P BSE Sensex opened gap-up with a gain of over 600 points and built on them to hit a high of 55,630. By the close, the index stood at 55,397, up 630 points or 1.15 percent. The Nifty50, on the other hand, reclaimed the 16,500-mark to end at 16,521, up 180 points or 1.1 percent. Read more

MARKET UPDATE:Sensex soared over 650 points to 55,350, and the Nifty topped 16,550, gaining 200 points

MARKET UPDATE:Sensex soared over 650 points to 55,350, and the Nifty topped 16,550, gaining 200 points

Wednesday, July 20, 2022

The Indian markets, uplifted by the reduction in windfall tax on fuel exports and oil output, sharply edged higher today(20 July 2022) led by Reliance and ONGC, which rose 3-5 percent. The BSE Sensex soared over 650 points to 55,350, and the NSE Nifty50 topped 16,550, gaining 200 points. The broader markets also sat in green. The BSE MidCap and SmallCap indices were up to 0.9 percent higher. Among sectors, Nifty IT, metals, and oil & gas packs rose the most by 1.8 percent each. All other pockets also sat with firm gains of up to 1 percent. Rallis India fell 2 percent in a strong market reporting an 18.1 percent decline in Q1FY23 net profit at Rs 67.47 crore when compared with Rs 82.42 crore in Q1FY22. Uplifted by the reduction in windfall tax on fuel exports and oil output, x sharply edged higher on Wednesday led by Reliance and ONGC, which rose 3-5 percent.

CLOSING BELL:Sensex surged 246 points to close at 54,768, while the Nifty reclaimed 16,300-mark to end at 16,341

CLOSING BELL:Sensex surged 246 points to close at 54,768, while the Nifty reclaimed 16,300-mark to end at 16,341

Tuesday, July 19, 2022

Indian benchmark indices rose at the fag-end of a choppy session, amid gains in PSU and select private banks, financial services, and select heavyweight stocks. The S&P BSE Sensex surged 246 points higher to close at 54,768, while the Nifty50 reclaimed 16,300-mark to end at 16,341. The index was 62 points higher at the end of the session. The indices were up 0.45 percent and 0.38 percent, respectively. Axis Bank, IndusInd Bank, M&M, Tata Steel, Ultratech Cement, Bajaj Finserv, Bharti Airtel, SBI, Coal India, Eicher Motors, and ICICI Bank were the top rulers, up between 1-2.3 percent. On the flipside, ONGC, Nestle India, HDFC Life, Sun Pharma, Tata Consumer, Cipla, Hero MotoCorp, and SBI Life ended lower, down up to 2.6 percent. Read more

MARKET UPDATE: Sensex fell 200 points to 54,360, and the Nifty slipped 50 points to 16,227

MARKET UPDATE: Sensex fell 200 points to 54,360, and the Nifty slipped 50 points to 16,227

Tuesday, July 19, 2022

The BSE Sensex fell 200 points to 54,360, and the NSE Nifty50 slipped 50 points to 16,227. Tata Steel, Sun Pharma, Bharti Airtel, NTPC, Reliance, Ultratech Cement, PowerGrid, and Dr. Reddy were the handful of gainers on the Sensex. ONGC and Coal India were the additional Nifty winners. On the flipside, HCL Tech, Asian Paints, Tech M, TCS, Infy, Bajaj Finserv, HUL, Nestle, Tata Consumer, HDFC Life, and Britannia led losses on the two indices, down up to 1.5 percent. However, the broader markets opened in green. The BSE MidCap and SmallCap indices were up to 0.14 percent higher. Sectorally, Nifty auto, metals, and pharma indices outperformed the weak market, rising up to 0.6 percent. Financials, FMCG and IT sat with losses. Among stocks, Surya Roshini rose over 4 percent on winning an order worth Rs 91 crores. In the currency market, the rupee breached the 80/$ mark at open before slightly pulling back to 79.95/$.

CLOSING BELL: Sensex jumped 760 points to end at 54,521 level while the Nifty closed at 16,279, up 229 points

CLOSING BELL: Sensex jumped 760 points to end at 54,521 level while the Nifty closed at 16,279, up 229 points

Monday, July 18, 2022

Indian benchmark indices surged over 1 percent higher today(18 July 2022), led by nearly broad-based buying driven by upbeat global momentum. The S&P BSE Sensex jumped 760 points to end at the 54,521 level while the Nifty closed at 16,279, up 229 points. The frontline indices climbed on the back of gains in Infosys, ICICI Bank, Kotak Bank, TCS, Axis Bank, L&T, SBI, and Reliance Industries. All these index heavyweights rallied between 0.85 percent and 4.5 percent. Separately, Tech M, Bajaj twins, Wipro, Ultratech Cement, Tata Steel, Titan, and Asian Paints were the other gainers rising up to 3.5 percent. On the downside, Dr. Reddy's Labs, HDFC Bank, HUL, Nestle, M&M, Maruti Suzuki, and HDFC were the laggards, down in the range of 0.5 percent to 1.7 percent. Read more

MARKET UPDATE: Sensex rose over 450 points to 54,237, while Nifty advanced 130 points to 16,180

MARKET UPDATE: Sensex rose over 450 points to 54,237, while Nifty advanced 130 points to 16,180

Monday, July 18, 2022

Indian stock markets opened with strong gains today(18 July 2022) tracking strength in Asian and US equities. The BSE Sensex rose over 450 points to 54,237, and the NSE Nifty50 advanced 130 points to 16,180. Infosys, Tech M, L&T, Dr. Reddy's, Sun Pharma IndusInd Bank, HUL, Tata Steel, and ICICI Bank led gains on the Sensex, rising 1-2 percent. Hindalco, JSW Steel, UPL, and ONGC were the additional gainers on Nifty. While HDFC twins, Britannia and M&M were the sole index losers holding tepid cuts. Read more

MARKET UPDATE: Sensex rose 300 points to 53,717, and Nifty gained 88 points to 16,030

MARKET UPDATE: Sensex rose 300 points to 53,717, and Nifty gained 88 points to 16,030

Friday, July 15, 2022

The Indian markets opened with nominal gains today(15 July 2022) tracking mixed cues from overseas amid declining commodity prices. The BSE Sensex rose 300 points to 53,717, and the NSE Nifty50 gained 88 points to 16,030. Bharti Airtel, SBI, Bajaj Finance, IndusInd, L&T, Kotak Bank, HUL, Infosys, and Tech M led gains on the Sensex. Britannia, Apollo Hospital, and Tata Consumer were the additional winners on Nifty. On the flipside, Tata Steel, HCL Tech, Axis Bank, Wipro, Tata Steel, JSW Steel, ONGC, and Hindalco were the top index drags. Read more

MARKET UPDATE: Sensex rose 180 points to 53,700, and the NSE Nifty50 advanced 60 points to 16,031

MARKET UPDATE: Sensex rose 180 points to 53,700, and the NSE Nifty50 advanced 60 points to 16,031

Thursday, July 14, 2022

The Indian markets started today's(14 July 2022) session with tepid gains as investors digested a 41-year high retail inflation in the US at 9.1 percent for June. The BSE Sensex rose 180 points to 53,700, and the NSE Nifty50 advanced 60 points to 16,031. Sun Pharma, Bharti Airtel, Titan, Nestle, L&T, HUL, Power Grid, and Dr. Reddy were the top winners of the Sensex. Apollo Hospitals, Tata Consumer, and Britannia were additional gainers on the Nifty. On the other hand, SBI, Axis Bank, ITC, Tata Steel, and JSW Steel were among the handful of index losers. The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.11 percent higher. Read more

Nomura cuts India 2023 GDP forecast to 4.7%

Nomura cuts India 2023 GDP forecast to 4.7%

Wednesday, July 13, 2022

Analysts at Nomura have cut its 2023 forecast for economic growth in India, as measured by the gross domestic product (GDP), to 4.7 percent from its earlier projection of 5.4 percent amid worries of recession picking up across the world in an inflationary environment as it expects growth to slow down over the next year. “We see rising medium-term growth headwinds from higher inflation, monetary policy tightening, dormant private capex growth and, most importantly, global growth slowdown,” Consequently, we lowered our 2023 GDP growth projection from 5.4% to 4.7%," the firm said in a note co-authored by Aurodeep Nandi and Sonal Varma. The Indian economy has been racing above its pre-pandemic level, led by a sharp recovery in the services sector, and supported by the lagged effects of easy financial conditions, a public capex push, and a rise in real bank credit growth and the improvement in growth has been broad-based across consumption, investment, industry and the external sector. Read more

MARKET UPDATE: Markets are likely to open on a positive ground;SGX Nifty Futures quoted 16,115 levels, up around 50 points

MARKET UPDATE: Markets are likely to open on a positive ground;SGX Nifty Futures quoted 16,115 levels, up around 50 points

Wednesday, July 13, 2022

Indian markets are likely to open on a positive ground despite mixed global cues today(13 July 2022). As of 7:40 AM, SGX Nifty Futures quoted 16,115 levels, up 50-odd points on the Nifty50. today(13 July 2022), investors will closely monitor the US inflation data for June. Back home, HCL Technologies will be on investors' radar after the IT major saw a rise in net profit by 2.4 percent year-on-year (YoY) to Rs 3,283 crore. Globally, the US markets closed lower on Tuesday on recession fears. While Dow Jones slipped 0.6 percent, both the S&P 500 and NASDAQ Composite declined 0.9 percent each. However, major markets in Asia-Pacific traded higher on Wednesday morning. Japan's Nikkei 225, South Korea's Kospi, and Hong Kong's Hang Seng index rose 0.3 percent each. Meanwhile, prices of crude oil tumbled below $100 per barrel on a stronger dollar and weak demand outlook. On Wednesday, Brent Crude hovered at $99 per barrel and WTI Crude was at $95 per barrel.

MARKET UPDATE: Sensex quoted at 54,084, down 311 points, while Nifty hovered around 16,108, down 108 points

MARKET UPDATE: Sensex quoted at 54,084, down 311 points, while Nifty hovered around 16,108, down 108 points

Tuesday, July 12, 2022

Indian benchmark indices started on a subdued note today (12 July 2022), following weakness in Asian markets. The 30-pack S&P BSE Sensex quoted at 54,084, down 311 points or 0.57 percent, in early deals while the Nifty50 hovered around 16,108, down 108 points or 0.67 percent. Tata Steel, HCL Tech, Dr. Reddy's Labs, Titan, Bajaj Finserv, and M&M were the major losers in the large-cap space, falling up to 2 percent in morning trade. Meanwhile, in the broader market, the BSE MidCap and SmallCap indices fell 0.5 percent each. Individually, shares of Spandana Sphoorty fell 5 percent after the company's consolidated net profit dropped 42 percent to Rs 28.6 crore in the March quarter (Q4FY22) after one-time settlement fees and transition expenses.

MARKET UPDATE: Sensex fell 300 points to 54,177, while Nifty slipped 82 points to 16,138

MARKET UPDATE: Sensex fell 300 points to 54,177, while Nifty slipped 82 points to 16,138

Monday, July 11, 2022

The Indian markets opened weak today(11 July 2022) tracking subdued global sentiment. To add to the pressure, IT giant TCS fell 3 percent as investors reacted to the company's soft Q1FY23 earnings. The BSE Sensex fell 300 points to 54,177, and the NSE Nifty50 slipped 82 points to 16,138. On the Sensex, all other IT companies also suffered losses with Infosys, HCL Tech, Wipro, and Tech M falling 1-2 percent. Bharti Airtel was the top loser, dipping 4 percent after the Adani group announced its plan to participate in the 5G spectrum auction to create the group’s own private networks and support its businesses. Read more

MARKET UPDATE: Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222

MARKET UPDATE: Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222

Friday, July 8, 2022

Indian equity markets started today's(8 July 2022) session firmly higher tracking strength in Asian and the US markets. The BSE Sensex rose 300 points to 54,527, and the NSE Nifty50 gained 90 points to 16,222. M&M, L&T, ICICI Bank, NTPC, Infosys, Axis Bank, Kotak Bank, ITC, HCL Tech, and Tech M were the top winners on the Sensex. Coal India, Grasim, and Britannia were the additional top gainers on Nifty. On the downside, Asian Paints, Titan, Tata Steel, JSW Steel, Dr Reddy's, Bajaj Finance, IndusInd Bank, Hindalco, and ONGC were the top losers across the two benchmarks. The broader markets also opened in green. The BSE MidCap and SmallCap indices were up to 0.3 per cent higher. Sector-wise Nifty Bank, Auto, Financials led sectoral gains. Nifty metals were the sole laggard among sectors. Among stocks, Suven Pharmaceuticals rose 2.6 per cent. The company has received US FDA approval for Glycopyrrolate. Glycopyrrolate is used to treat peptic ulcers in adults.

MARKET UPDATE: Sensex rose 450 points to 54,200, and Nifty advanced 150 points to 16,140

MARKET UPDATE: Sensex rose 450 points to 54,200, and Nifty advanced 150 points to 16,140

Thursday, July 7, 2022

The Indian markets opened gap-up today(7 July 2022), tracking positive cues from overseas amid a sharp fall in crude and strongly extended their previous session's gains. The BSE Sensex rose 450 points to 54,200, and the NSE Nifty50 advanced 150 points to 16,140. Titan, Asian Paints, M&M, Kotak Bank, Power Grid, ICICI Bank, and IndusInd Bank led the upmove on the Sensex, while Bharti Airtel was the sole index loser, down 0.5 percent. The broader markets also opened firmly higher. The BSE MidCap and SmallCap indices gained up to 0.8 percent.

India's services activity touches an eleven-year high of 59.2 in June

India's services activity touches an eleven-year high of 59.2 in June

Tuesday, July 5, 2022

In June 2022 India’s services activity expanded at the fastest pace in eleven years. Rising from 58.9 in May to 59.2 in June, the seasonally adjusted S&P Global India Services PMI Business Activity Index was at its highest mark since April 2011. The June data pointed to further accelerations in new business growth and output at Indian services companies amid ongoing improvements in demand conditions. Although firms expect the recovery to be sustained over the coming 12 months, concerns surrounding price pressures restricted business confidence. Input costs continued to rise at a historically elevated pace, although one that was the slowest in three months, while charge inflation hit a near five-year high. Read more

MARKET UPDATE: Sensex surged 600 points to 53,830 and Nifty was seen back above the 16,000-mark

MARKET UPDATE: Sensex surged 600 points to 53,830 and Nifty was seen back above the 16,000-mark

Tuesday, July 5, 2022

The Indian key benchmark indices extended gains for the second straight day as investors bought beaten-down shares in hopes of a relief rally. The BSE Sensex surged 600 points to 53,830. The NSE Nifty was seen back above the 16,000-mark after almost a month. In the broader markets, the BSE Midcap gained 0.8 percent while the SmallCap index jumped 1.2 percent. The overall breadth too was pretty optimistic with nearly three advancing stocks for every declining share. Among stocks, Marksans Pharma surged over 11 percent after the company said it would consider a share buyback. MMTC also soared 7 percent. The company has completed the sale of Neelachal Ispat Nigam to Tata Steel Long.

MARKET UPDATE: Indian equity markets are likely to start trade on a flattish note

MARKET UPDATE: Indian equity markets are likely to start trade on a flattish note

Monday, July 4, 2022

The Indian equity markets are likely to start trade today (4 July 2022) on a flattish note. As of 8:00 AM, the SGX Nifty Futures quoted 15,729 levels, indicating a cut of 23-odd points on the Nifty50. However, globally, the US markets closed in positive territory on Friday. Dow Jones advanced 1.05 percent, while the S&P 500 rose 1.06 percent, and NASDAQ Composite was up 0.9 percent. Asia-Pacific markets, too, imitated the positive cues from the US markets and edged higher on Monday morning. Japan's Nikkei 225 rose 1.09 percent and South Korea's Kospi was up 0.2 percent. Back home, macro data and corporate earnings season will steer the markets this week. That apart, among individual stocks, HDFC and HDFC Bank will be in focus after both stock exchanges approved their proposed merger.

MARKET UPDATE: Indian equity markets are likely to open lower

MARKET UPDATE: Indian equity markets are likely to open lower

Friday, July 1, 2022

The Indian equity markets are likely to open lower in trade today(1 July 2022) amid unfavourable global sentiments. As of 7:50 AM, the SGX Nifty Futures quoted 15,722 levels, signaling a cut of 50-odd points on the Nifty50. The US markets continued to be under selling pressure yesterday. Fed's tough talks coupled with recession fears eroded investor sentiment and bogged down the S&P 500 to the path of the worst first half of the year since 1970. Both Dow Jones and the S&P 500 shed 0.8 percent each, whereas, NASDAQ Composite lost 1.3 percent. Read more

MARKET UPDATE: Indian equity markets: Likely to open on a muted note

MARKET UPDATE: Indian equity markets: Likely to open on a muted note

Thursday, June 30, 2022

As global cues turn mixed, the Indian equity markets are likely to open on a muted note today(30 June 2022). At 7:54 AM, the SGX Nifty Futures quoted 15,740 levels, indicating a cut of over 50 points on the Nifty50. Globally, the US markets closed mixed yesterday (29 June) after Federal Reserve Chairman Jerome Powell emphasised the central banks' hawkish stance to tame high inflation. While Dow Jones advanced 0.2 percent, both NASDAQ Composite and the S&P 500 dropped into the negative zone - falling to 0.03 percent and 0.07 percent, respectively. Read more

MARKET UPDATE: Indian equity markets: A tepid opening is on cards

MARKET UPDATE: Indian equity markets: A tepid opening is on cards

Wednesday, June 29, 2022

As global sentiments turn bearish a tepid opening is on cards for the Indian equity markets today(29 June 2022). At 7:44 AM, the SGX Nifty Futures were quoted at 15,697 levels, indicating a gap-down of over 100 points on the Nifty50. The US equity markets suffered from big cuts in trade on Tuesday. Dow Jones fell 1.5 percent, the S&P 500 dropped 2.01 percent, and NASDAQ Composite slipped 2.9 percent. Meanwhile, investors will keenly watch the US quarterly GDP data today' Markets in Asia-Pacific imitated the sour global mood and fell in trade on Wednesday morning. While Japan's Nikkei 225 dropped 0.9 percent, South Korea's Kospi was down 1.5 percent. That apart, prices of crude oil edged higher in trade. Brent Crude jumped 2.5 percent to $117.58 a barrel and WTI Crude added 2 percent to $111.76 a barrel. Read more

India defies global slump with a record dealmaking spree in Q2

India defies global slump with a record dealmaking spree in Q2

Tuesday, June 28, 2022

While dealmaking elsewhere in the world slows to a crawl bankers in India recorded their best-ever quarter for mergers and acquisitions. India saw $82.3 billion pending and completed M&A deals in the second quarter, the highest amount on record, according to data compiled by Bloomberg. That’s more than twice as much as the previous record of $38.1 billion in the third quarter of 2019. Globally, M&A volume in the quarter reached $827.6 billion, down 8.7% from the same period in 2021. The surge in India was dominated by HDFC Bank Ltd.’s $60 billion all-stock purchase of Housing Development Finance Corp. in April, combining India’s most valuable bank and largest mortgage lender in the country’s biggest-ever M&A transaction. The move illustrated how India’s flagship companies, facing disruptive trends such as the rise of fintech and climate change, are turning to dealmaking as a tactic to dramatically reshape themselves. Read more

MARKET UPDATE: Indian equity markets are likely to open on a choppy ground

MARKET UPDATE: Indian equity markets are likely to open on a choppy ground

Tuesday, June 28, 2022

The Indian equity markets are likely to open on the choppy ground today(28 June 2022) as investors' moods turn cautious overseas. As of 7:58 AM, the SGX Nifty Futures quoted 15,736 levels, indicating a cut of 96-odd points on the Nifty50. Globally, the US equity markets turned muted as all major indexes on Wall Street dropped in trade on Monday, June 27. Dow Jones slipped 0.2 percent, the S&P 500 dropped 0.3 percent, and NASDAQ Composite fell 0.7 percent. Today morning, major markets in Asia-Pacific, too, traded mixed as covid-19 clampdown drowned hopes of a robust recovery. While Hong Kong's Hang Seng index was 0.7 percent, Japan's Nikkei 225 advanced 0.4 percent. Among individual stocks, Bajaj Auto will see some action as the board-approved buyback worth up to Rs 2,500 crore. Besides that, Moody's upgraded Tata Steel's outlook to 'positive' from 'stable' on strong operational performance backed by a healthy liquidity position.

MARKET UPDATE: Sensex rose 700 points to 53,335, while Nifty gained 180 points to 15,880

MARKET UPDATE: Sensex rose 700 points to 53,335, while Nifty gained 180 points to 15,880

Monday, June 27, 2022

The Indian markets were firmly higher in early trades today(27 June 2022) tracking strength in the US and Asia. The BSE Sensex rose 700 points to 53,335, while the NSE Nifty gained 180 points to 15,880. In the broader markets, the BSE MidCap and SmallCap indices also sat in the positive territory, rising 1 percent and 1.6 percent, respectively. Sector-wise also all pockets moved higher. Nifty IT and metals led the gains, rising over 2 percent each. Banks, Auto, Financials, and Realty also gained over 1 percent each. Among stocks, Hindustan Copper gained over 2 percent. The state-owned company will meet on Thursday to consider a proposal to raise up to Rs 500 crore via debentures. SBI cards rose 3 percent after the company's May credit card spending rose by 8 percent from April.

MARKET UPDATE: Sensex rose 500 points to 52,800, and Nifty advanced 150 points to 15,710

MARKET UPDATE: Sensex rose 500 points to 52,800, and Nifty advanced 150 points to 15,710

Friday, June 24, 2022

In tune with positive global cues across the US and Asian equities, the Indian markets opened firmly higher today(24 June 2022). The BSE Sensex rose 500 points to 52,800, and the NSE Nifty advanced 150 points to 15,710. IndusInd Bank, Axis Bank, SBI, ICICI, Bajaj Finance, Wipro, Tata Steel, Bharti Airtel, HUL, and Ultratech Cement led gains on the Sensex, gaining up to 2.7 percent. ONGC and Apollo Hospitals were the additional winners on the Nifty. Tech M and Asian Paints were the only losers on the two benchmarks. In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, rising up to 1 percent. Read more

Sensex on flatline at 51,972 level, while Nifty held the 15,400-mark

Sensex on flatline at 51,972 level, while Nifty held the 15,400-mark

Thursday, June 23, 2022

The Indian markets opened flat today(23 June 2022) tracking mixed global cues. The BSE Sensex was around the flatline at the 51,972 level, while the NSE Nifty held the 15,400 mark. Among the Sensex-30 shares, Airtel, Wipro, TCS, Maruti, ICICI Bank, Ultratech Cement, Asian Paints, M&M, and Dr Reddy's were the top gainers, up to 2 percent higher. Hero Moto and Bajaj Auto rose 4 percent and 3 percent, respectively, on the Nifty. Titan, PowerGrid, Reliance, Apollo Hospitals, ONGC, and SBI Life, meanwhile, were the top laggards on the two benchmarks. In the broader markets, the BSE MidCap and SmallCap indices were in the positive territory, up to 0.4 percent higher. Read more

MARKET UPDATE: Sensex fell 400 points to 52,140, while the NSE Nifty shed 125 points to 15,513

MARKET UPDATE: Sensex fell 400 points to 52,140, while the NSE Nifty shed 125 points to 15,513

Wednesday, June 22, 2022

The Indian markets opened with steep cuts today(22 June 2022) tracking weakness in US futures and some Asian markets. The BSE Sensex fell 400 points to 52,140, while the NSE Nifty shed 125 points to 15,513. Tata Steel, NTPC, Wipro, Tech M, HCL Tech, IndusInd Bank, Titan, and Reliance led losses on the Sensex, down up to 3 percent. Hindalco, ONGC, and JSW Steel were the top Nifty losers. On the downside, Dr. Reddy's, HUL, Asian Paints, Bajaj Auto, Maruti, and Sun Pharma were among the handful of gainers on the two benchmarks. In the broader markets, the BSE MidCap and SmallCap indices were in the negative territory, falling up to 0.8 percent. Read more

India facing twin deficit problem due to commodity prices, subsidy: FinMin

India facing twin deficit problem due to commodity prices, subsidy: FinMin

Tuesday, June 21, 2022

The finance ministry yesterday(20 June 2022) cautioned the re-emergence of the twin deficit problem in the economy, with higher commodity prices and rising subsidy burden leading to an increase in both fiscal deficit and current account deficit. It’s also the first time the government has explicitly talked about the possibility of fiscal slippage in the current fiscal year. Read more

MARKET UPDATE: Sensex rose 400 points to reclaim the 52,000-mark, and Nifty gained 100 points to 15,450

MARKET UPDATE: Sensex rose 400 points to reclaim the 52,000-mark, and Nifty gained 100 points to 15,450

Tuesday, June 21, 2022

Continuing their recovery, the Sensex and Nifty indices extended gains today(21 June 2022) opening higher. The BSE Sensex rose 400 points to reclaim the 52,000 mark, and the NSE Nifty gained 100 points to 15,450. Among the Sensex-30 shares, Tata Steel, IndusInd Bank, Titan, SBI, Tech M, Reliance, Bajaj twins, and HDFC were the top gainers. Hindalco, Tata Motors, Eicher Motors, and JSW Steel led gains on the Nifty. On the downside, HUL and Ultratech Cement were the sole underperformers across the two benchmarks. Read more

MARKET UPDATE: Sensex gained 170 points to 51,537 and the Nifty moved 30 points higher to 15,320

MARKET UPDATE: Sensex gained 170 points to 51,537 and the Nifty moved 30 points higher to 15,320

Monday, June 20, 2022

After an extremely negative week, the key benchmark indices started today's(20 June 2022) session with tepid gains amid subdued global sentiment. The BSE Sensex gained 170 points to 51,537 and the NSE Nifty50 moved 30 points higher to 15,320. Sun Pharma, Asian Paints, HUL Bajaj Finance, Wipro, TCS, and HDFC twins were the top winners on the Sensex. Tata Motors and Apollo Hospitals were the additional gainers on the Nifty. Whereas Tata Steel, PowerGrid, Coal India, ONCC, JSW Steel, and Hindalco were the top losers across the two benchmarks, down up to 4.5 percent. The broader markets, meanwhile, opened in the red. The BSE MidCap and SmallCap indices were up to 0.2 percent lower. Read more

MARKET UPDATE: Sensex fell 400 points to 51,081, while Nifty shed 117 points to 15,240

MARKET UPDATE: Sensex fell 400 points to 51,081, while Nifty shed 117 points to 15,240

Friday, June 17, 2022

The Indian markets opened lower today (17 June 2022), following a sharp selloff the previous day amid lingering global weakness. The BSE Sensex fell 400 points to 51,081, while the NSE Nifty shed 117 points to 15,240. On the Sensex, Wipro, TCS, HCL Tech, Titan, Tech M, IndusInd Bank, HDFC and Asian Paints led losses, down up to 2.6 per cent. Britannia, Tata Motors and HDFC Life were among losers on the Nifty. Read more

MARKET UPDATE: Sensex rose 568 points to 53,109, while Nifty at 15,860, higher by 170 points

MARKET UPDATE: Sensex rose 568 points to 53,109, while Nifty at 15,860, higher by 170 points

Thursday, June 16, 2022

The markets in India opened with strong gains today(16 June 2022) after global equities cheered the 75 bps rate hike by the US Fed overnight. The BSE Sensex rose 568 points to 53,109, while the NSE Nifty was at 15,860, higher by 170 points. Among the Sensex-30 shares, Reliance, Bajaj twins, ICICI Bank, IndusInd Bank, Maruti, SBI, Titan, and Axis Bank led gains, rising up to 2 percent. BPCL, Tata Motors, and Coal India were the additional winners on the Nifty. On the flipside, PowerGrid, Nestle, Dr. Reddy's, HUL, Bharti Airtel, and ONGC were the handful of losers on the two benchmarks. Read more

MARKET UPDATE: Sensex rose 60 points to 52,743, while Nifty was at 15,754, higher by 22 points

MARKET UPDATE: Sensex rose 60 points to 52,743, while Nifty was at 15,754, higher by 22 points

Wednesday, June 15, 2022

The markets in India opened flat today(15 June 2022) tracking mixed global cues ahead of the US Fed policy outcome later tonight. The BSE Sensex rose 60 points to 52,743, while the NSE Nifty was at 15,754, higher by 22 points. Tata Steel, Bajaj twins, M&M, Wipro, Asian Paints, IndusInd Bank, SBI, and Maruti were the top gainers on the 30-share Sensex. Tata Motors, Grasim, and Apollo Hospitals were the additional winners on the Nifty. HUL, Reliance, Bharti Airtel, HDFC twins, Nestle, BPCL, Britannia, and Titan, meanwhile, were the top losers on the two frontline indices. Read more

MARKET UPDATE: Sensex fell 200 points to 52,677, while Nifty slipped 40 points to 15,730

MARKET UPDATE: Sensex fell 200 points to 52,677, while Nifty slipped 40 points to 15,730

Tuesday, June 14, 2022

The Indian markets opened with nominal losses today (14 June 2022) as a global sell-off continued overnight in the US and across Asia this morning. The BSE Sensex fell 200 points to 52,677, while the NSE Nifty slipped 40 points to 15,730. Tech M, Asian Paints, HDFC twins, Wipro, Infosys, ICICI Bank, and Kotak Bank led losses on the Sensex, while Tata Motors, HDFC Life, and HeroMoto Corp were the additional laggards on the Nifty. On the upside, Bharti Airtel, M&M, L&T, NTPC, PowerGrid, Dr. Reddy's, Tata Steel, ITC, Adani Ports, and Grasim were the top gainers, lending strength to the benchmarks. Read more

MARKET UPDATE: Sensex slumped over 1,500 points as it slipped below the 53,000 level and Nifty shed 400 points to moved below 15,800

MARKET UPDATE: Sensex slumped over 1,500 points as it slipped below the 53,000 level and Nifty shed 400 points to moved below 15,800

Monday, June 13, 2022

The Indian equity markets cracked on the bourses today(13 June 2022), bleeding under global pressure. The S&P BSE Sensex slumped over 1,500 points as it slipped below the 53,000 level and the Nifty50 shed 400 points to move below 15,800. All sectors also held steep losses led by Nifty PSBs that cracked 4 percent. Nifty Realty, Banks, and Financials were the next top losers, sliding 3 percent each. The broader markets were also in tandem with the frontline indices. The BSE MidCap and SmallCap indices tanked 2.3 and 2.4 percent, respectively. LIC slips 4% as anchor investor lock-in ends; down 28% from the issue price. In the currency market, the rupee yet again slumped to an all-time low as it breached the 78/$- mark.

Fitch revised the outlook on India's long-term foreign-currency IDR from “negative” to “stable”

Fitch revised the outlook on India's long-term foreign-currency IDR from “negative” to “stable”

Friday, June 10, 2022

Fitch Ratings has revised the outlook on India's long-term foreign-currency Issuer Default Rating (IDR) from “negative” to “stable” on diminished downside risks to medium-term growth. It affirmed the IDR at 'BBB-'. The revision in outlook reflects India's rapid economic recovery and easing financial sector weaknesses, despite near-term headwinds from the global commodity price shock. “We expect robust growth relative to peers in order to support credit metrics in line with the current rating,” Fitch said in a statement. Read more

MARKET UPDATE: Sensex fell over 700 points to 54,580, while Nifty shed 200 points to hover around 16,250

MARKET UPDATE: Sensex fell over 700 points to 54,580, while Nifty shed 200 points to hover around 16,250

Friday, June 10, 2022

The Indian key benchmark indices were sharply lower today(10 June 2022), tracking a plunge in global markets on inflation fears and ahead of the US May CPI data, which remains a crucial pivot for investors around the world. The BSE Sensex fell over 700 points to 54,580, while the NSE Nifty shed 200 points to hover around 16,250. In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.9 percent. Read more

MARKET UPDATE: Sensex down 100 points to 54,770, while Nifty held on to the 16,300-mark

MARKET UPDATE: Sensex down 100 points to 54,770, while Nifty held on to the 16,300-mark

Thursday, June 9, 2022

The key benchmark indices in Indian markets erased opening losses in early trades today(9 June 2022) as heavyweights RIL, ITC, and pharma stocks remained firm in a weak market. Investors are digesting the possibility of more interest rate hikes in the current fiscal after the RBI delivered a 50 bps hike on Wednesday. The BSE Sensex was off day's low, down 100 points to 54,770, while the NSE Nifty held on to the 16,300-mark. In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 0.3 percent. Sectorally, barring pharma and oil & gas pockets on the Nifty, all other indices sat in red. Nifty IT, realty, banks, financials, and auto were down up to 0.6 percent. Among stocks, Oil India defied market sentiment and surged 7 percent as brent continues to trade at elevated levels of $124 a barrel.

RBI raises repo rate to 4.9%; GDP growth estimate for FY23 at 7.2

RBI raises repo rate to 4.9%; GDP growth estimate for FY23 at 7.2

Wednesday, June 8, 2022

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) today(8 June 20 22) raised the repo rate by 50 basis points to 4.9 percent (bps), citing inflation concerns. It has also decided to remain focused on the withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth. The committee has decided to retain the GDP growth estimate for FY23 at 7.2 percent, said RBI Governor Shaktikanta Das. On the assumption of a normal monsoon in 2022 and average crude oil price of $105 per barrel, inflation is projected at 6.7 percent in 2022-23, with Q1 at 7.5 percent; Q2 at 7.4 percent; Q3 at 6.2 percent; and Q4 at 5.8 percent, with risks evenly balanced. Read more

MARKET UPDATE: Sensex up 190 points to 55,298 and Nifty up 59 pts to 16,476

MARKET UPDATE: Sensex up 190 points to 55,298 and Nifty up 59 pts to 16,476

Wednesday, June 8, 2022

The Indian markets turned positive after the Reserve Bank of India (RBI) retained the GDP growth forecast at 7.2 percent today(8 June 2022). It, however, hiked the key repo rate by 50 bps to rein in inflation. This was the second raise in a row this year, which came in line with Street's expectations. With this, the repo rate now stands at 4.9 percent, up from 4.4 percent. RBI Governor Shaktikanta Das added that the MPC has decided unanimously to keep the policy stance ‘withdrawal of accommodation’. The BSE Sensex was up 190 points to 55,298 and the NSE Nifty50 was up 59 pts to 16,476. On the inflation front, the central bank raised the consumer price (CPI) or retail inflation forecast for FY23 to 6.7 percent from 5.7 percent. Sector-wise, Banks, Financials, Metals, PSBs, and Realty indices held nominal gains on the Nifty. While, Auto, IT, Pharma, FMCG, and Consumer Durables were the top losers, down up to a percent.

To India’s mortgage-to-GDP ratio to cross 20 per cent, housing loans will have to grow exponentially:Deepak Parekh, chairman of HDFC Ltd

To India’s mortgage-to-GDP ratio to cross 20 per cent, housing loans will have to grow exponentially:Deepak Parekh, chairman of HDFC Ltd

Tuesday, June 7, 2022

Deepak Parekh, chairman of HDFC Ltd, today(7 June 2022) said he expected the regulator’s view on HDFC’s proposed merger with HDFC Bank to be fair and judicious, asking the stakeholders to be patient. In his note to shareholders in the annual report, the HDFC patriarch said after 45 glorious years of providing homes to millions of customers, the time was right for HDFC to find a new home. In April, HDFC and HDFC Bank announced a plan for an all-stock merger deal, for which all the regulatory approvals were expected in 15-18 months. HDFC Bank has requested the Reserve Bank of India more time to meet several regulatory requirements like cash reserve ratio, statutory liquidity ratio, and priority-sector lending targets. Read more

MARKET UPDATE: Sensex fell 600 points to 55,050, while Nifty shed 180 points to slip below 16,400

MARKET UPDATE: Sensex fell 600 points to 55,050, while Nifty shed 180 points to slip below 16,400

Tuesday, June 7, 2022

The Indian key benchmark indices extended losses in early deals today(7 June 2022) tracking subdued sentiment overseas. The BSE Sensex fell 600 points to 55,050, while the NSE Nifty shed 180 points to slip below 16,400. In the broader markets, the BSE MidCap and SmallCap indices were also in the negative territory, down up to 1 percent. Sectorwise, consumer durables, financials, auto, realty, and banks led losses on the Nifty, down up to 2 percent. Nifty IT and FMCG were other notable losers. Among stocks, shares of PB Fintech, which operates online insurance broker Policybazaar and loan marketplace Paisabazaar, plunged 10 percent on the BSE after Yashish Dahiya, chairman executive and CEO of the company revealed his plan to sell up to 3.77 million equity shares through an open market.

MARKET UPDATE: Sensex down 300 points to 55,438, and Nifty slipped 90 points to 16,500

MARKET UPDATE: Sensex down 300 points to 55,438, and Nifty slipped 90 points to 16,500

Monday, June 6, 2022

The Indian key benchmark indices held minor cuts in today's(6 June 2022) session tracking weakness in global markets as investors raised bets of steeper rate hikes by the US Fed, following positive unemployment data on Friday. In early deals, the BSE Sensex was down 300 points to 55,438, and the NSE Nifty50 slipped 90 points to 16,500. IT stocks led losses on the Sensex with Wipro, Tech M, Infosys, TCS, and HCL Tech dropping 1-2 percent. Bajaj twins, HUL, and Asian Paints were the other notable laggards. The broader markets also opened in the red. The BSE MidCap and SmallCap indices were up to 0.2 percent lower. Sectorally, Nifty IT, Media, Metals, PSBs, and Realty indices suffered the maximum losses, each down over 1 percent. Other pockets were also in red.

MARKET UPDATE: Sensex rose 500 points to 56,320, while Nifty climbed 150 points to 16,780

MARKET UPDATE: Sensex rose 500 points to 56,320, while Nifty climbed 150 points to 16,780

Friday, June 3, 2022

The key benchmark indices were upbeat today(3 June 2022) following a relief rally in the US markets overnight and firm Asian indices. The BSE Sensex rose 500 points to 56,320, while the NSE Nifty climbed 150 points to 16,780. In the broader markets, the BSE MidCap and SmallCap indices also opened in the green, rising up to 0.8 percent. Sectorally, Nifty IT soared over 2 percent following a strong rally in US tech stocks on overnight. Nifty Bank, PSBs, and Pharma were other notable winners. Specialty company Aether Industries is listed at Rs 706, a 10 percent premium over its issue price of Rs 642, on the BSE. The stock soon after hit the upper circuit, surging over 20 percent.

Closing Bell: Sensex closed at 55,818, up 437 points while Nifty settled tad below the 16,650-mark at 16,628, up 105 points

Closing Bell: Sensex closed at 55,818, up 437 points while Nifty settled tad below the 16,650-mark at 16,628, up 105 points

Thursday, June 2, 2022

Indian benchmark indices settled near the day's high-level today(2, June 2022), rallying for the first time in three days. After a weak start, the S&P BSE Sensex staged a one-way upmove and closed at 55,818, up 437 points or 0.79 percent. This was 683 points higher than the day's low of 55,135. On the NSE, the Nifty50 settled a tad below the 16,650-mark at 16,628, up 105 points or 0.64 percent. Reliance Industries (RIL) was the biggest contributor, accounting for over 65 percent of today's gains, as its shares surged 3.6 percent. Bajaj Finserv, Sun Pharma, HCL Tech, Asian Paints, Infosys, TCS, IndusInd Bank, and Tata Steel were the other notable gainers on the 30-pack index. On the downside, HDFC, PowerGrid, HUL, HDFC Bank, L&T, and Kotak Bank capped the upside. Read more

MARKET UPDATE: Sensex held mild gains around 100 points and the NSE Nifty was broadly unchanged at 16,520

MARKET UPDATE: Sensex held mild gains around 100 points and the NSE Nifty was broadly unchanged at 16,520

Thursday, June 2, 2022

The Indian frontline indices opened with minor cuts today (2 June 2022) amid subdued global sentiment, but turned flat soon after, as IT and public sector banks gained buying interest. The BSE Sensex held mild gains of around 100 points and the NSE Nifty was broadly unchanged at 16,520. In the broader markets, the BSE MidCap was down 0.3 percent while the SmallCap index was up equally. Sectorally, Nifty Financials, FMCG, Banks, and Auto indices were notable losers, down 1 percent. On the flip side, IT and PSB indices on the Nifty held strong gains of around a percent each. Among stocks, Religare Enterprises soared over 10 percent. The company said it has resolved many legacy issues left over by its erstwhile promoters, including settlement with SEBI and becoming debt-free.

MARKET UPDATE: Sensex up around 400 points at 54,650, while Nifty neared the 16,300-level

MARKET UPDATE: Sensex up around 400 points at 54,650, while Nifty neared the 16,300-level

Friday, May 27, 2022

The Indian key benchmark indices were seen holding gains in noon deals on the back of sustained buying support in IT and financial shares, today (27 May 2022) The BSE Sensex was up around 400 points at 54,650, while the NSE Nifty neared the 16,300-level. The broader markets were also up with gains - the BSE MidCap and SmallCap indices were up over a percent each. The breadth too was fairly positive, with advancing shares outpacing declining stocks in the 2:1 ratio. Sector-wise, the BSE IT, Bankex and Capital Goods indices were the top performers, while the Oil & Gas index lagged, dragged by Reliance. Christopher Wood, global head of equity strategy at Jefferies believes that S&P 500 has more room for a downside. Investors, he suggests, should look to exit stocks on any intermittent bounce-back.

MARKET UPDATE: Sensex rose 327 points to 54,077, while Nifty climbed 84 points to 16,110

MARKET UPDATE: Sensex rose 327 points to 54,077, while Nifty climbed 84 points to 16,110

Thursday, May 26, 2022

The Indian key benchmark indices started today’s(26 May 2022) session on a positive note following a rally in US markets overnight. The BSE Sensex rose 327 points to 54,077, while the NSE Nifty climbed 84 points to 16,110. Among the Sensex-30 shares, Tata Steel, ICICI Bank, Wipro, Axis Bank, HDFC Bank, TCS, PowerGrid, IndusInd Bank, HCL Tech, and SBI were the top gainers, gaining up to 1 percent. Hindalco was the additional winner on Nifty, up 1.5 percent. HUL, Bharti Airtel, NTPC, M&M, L&T, BPCL, ONGC, and Apollo Hospitals, meanwhile, were the top losers on the two benchmarks. In the broader markets, the BSE MidCap and SmallCap indices were also in the positive territory, rising up to 0.4 percent. Read more

MARKET UPDATE: Sensex around the flatline, holding 54,050 while Nifty at 16,130

MARKET UPDATE: Sensex around the flatline, holding 54,050 while Nifty at 16,130

Wednesday, May 25, 2022

The key benchmark indices in Indian markets erased all opening gains and turned flat in today's(25 May 2022) trade amid muted global sentiment. The BSE Sensex and the NSE Nifty50 were around the flatline, holding 54,050, and 16,130 levels, respectively. Asian Paints, IT majors-TCS, Wipro, Infosys, Tech M, and HCL Tech were the top losers on the 30-share index, slipping 1-3 percent. The broader markets were underperforming the benchmarks. The BSE MidCap and SmallCap indices pared gains and fell 0.8 percent and 1.2 percent, respectively. Sector-wise, banking indices on BSE- bankex, finance, and private bank- rose 1 percent each, leading to the gains. While Nifty IT extended its fall, down 2 percent tracking Nasdaq's losses on Tuesday.

MARKET UPDATE: Sensex down 100 points to 54,210, while Nifty at 16,180, lower by 35 points

MARKET UPDATE: Sensex down 100 points to 54,210, while Nifty at 16,180, lower by 35 points

Tuesday, May 24, 2022

The Indian key benchmark indices opened today's(24 May 2022) session on a quiet note tracking losses in US equity futures and subdued Asian markets. In early deals, the BSE Sensex was down 100 points to 54,210, while the NSE Nifty was at 16,180, lower by 35 points. Logistics giant Delhivery saw a tepid debut, listing at a 1.2 percent premium on the BSE, at Rs 493 vs the issue price of Rs 487 a share. Venus Pipes and Tubes debuted at Rs 335, a premium of 2.76 percent over the issue price of Rs 326, on the BSE. That apart, sectorally, Nifty metals that slumped over 8 percent the previous day, were seen recovering partially. The index rose 1 percent, and PSBs also gained a percent. The two were leading sectoral gains. Other gainers included Nifty energy, banks, and auto pockets. While FMCG and IT were in the red.

MARKET UPDATE: Sensex down 100 points to 54,210, while Nifty at 16,180, lower by 35 points

MARKET UPDATE: Sensex down 100 points to 54,210, while Nifty at 16,180, lower by 35 points

Tuesday, May 24, 2022

CLOSING BELL: Sensex fell 642 points from the day's high and ended at 54,289, down 38 points and Nifty closed at 16,215, down 51.5 points

CLOSING BELL: Sensex fell 642 points from the day's high and ended at 54,289, down 38 points and Nifty closed at 16,215, down 51.5 points

Monday, May 23, 2022

Indian Equity markets turned sharply lower at the fag-end of the session, erasing gains and ending flat with a negative bias on Monday amid selling in index heavyweights like Tata Steel, HDFC twins, Reliance Industries, and ITC. The BSE Sensex index, which hit a high of 54,931 on the BSE, fell 642 points from the day's high and ended at 54,289, down 38 points or 0.07 percent. The NSE Nifty50, on the other hand, closed at 16,215, down 51.5 points or 0.3 percent. The index hit a high of 16,415 earlier today. Read more

MARKET UPDATE: Sensex rose over 250 points to 54,600, and Nifty gained 60 points to 16,330

MARKET UPDATE: Sensex rose over 250 points to 54,600, and Nifty gained 60 points to 16,330

Monday, May 23, 2022

The Indian key benchmark indices advanced today's early deals (23 May 2022) on the back of buying auto and construction stocks. The BSE Sensex rose over 250 points to 54,600, and the NSE Nifty50 gained 60 points to 16,330. Auto stocks Maruti, Hero Moto, Tata Motors, and Eicher Motors were among the top winners on Nifty, up 2.5-4 percent. On the flip side, metal stocks slumped on the hike in steel export duty. Tata Steel and JSW Steel fell over 10 percent each, leading to losses on Sensex and Nifty. The broader markets were outperforming the benchmarks. The BSE MidCap and the SmallCap indices rose up to 0.7 percent.

MARKET UPDATE: Sensex sank 1000 points to 53,180, and Nifty tanked 300 points to 15,920

MARKET UPDATE: Sensex sank 1000 points to 53,180, and Nifty tanked 300 points to 15,920

Thursday, May 19, 2022

The Indian key benchmark indices were trading with deep cuts today(19 May 2022) in tune with the sharp global selloff. The BSE Sensex sank 1000 points to 53,180, and the NSE Nifty tanked 300 points to 15,920. The broader markets were also weak in line with frontline indices. The BSE MidCap and SmallCap indices slumped up to 2 percent. The market breadth was extremely negative with 1,170 stocks declining as against 423 rising on the BSE. The India VIX surged 9 percent to 24 levels indicating high nervousness among investors. Read more

MARKET UPDATE: Sensex rose 250 points to 54,570, and Nifty slipped 70 points to 16,330

MARKET UPDATE: Sensex rose 250 points to 54,570, and Nifty slipped 70 points to 16,330

Wednesday, May 18, 2022

The Indian key benchmark indices started today's(18 May 2022) session with mild gains amid mixed cues. The BSE Sensex rose 250 points to 54,570, and the NSE Nifty50 slipped 70 points to 16,330. Bharti Airtel, Infosys, Tech M, Wipro, Tech M, Dr. Reddy's, Sun Pharma, and Bajaj Finance were the top winners on the Sensex, rising up to 2 percent. Eicher Motors, Cipla, and SBI Life were the additional Nifty winners. On the downside, PowerGrid, NTPC, Tata Steel, Coal India, ONGC, Hindalco, JSW Steel, and Nestle were the top laggards on the benchmarks. Read more

MARKET UPDATE: Sensex rose 600 points to 53,570, and Nifty climbed above 16,000

MARKET UPDATE: Sensex rose 600 points to 53,570, and Nifty climbed above 16,000

Tuesday, May 17, 2022

In Indian markets, the key benchmark indices extended gains in early deals today(17 May 2022). The BSE Sensex rose 600 points to 53.570, and the NSE Nifty climbed above 16,000. Meanwhile, LIC is listed at Rs 867.20 on the BSE, a discount of 8.6 percent as against the issue price of Rs 949. The stock touched a low of Rs 860.10, and then recovered and rallied to a high of Rs 920. At 10:13 AM, the stock traded at Rs 897.50 with around 1.28 million shares has exchanged hands on the BSE. In the broader markets, the BSE MidCap and SmallCap indices also opened in the positive territory, rising up to 0.7 percent. Read more

MARKET UPDATE: Sensex rose 500 points to 53,300 and Nifty was above 15,900, up 150 points

MARKET UPDATE: Sensex rose 500 points to 53,300 and Nifty was above 15,900, up 150 points

Monday, May 16, 2022

The Indian key benchmark indices were higher in today's(16 May 2022) early trade amid broad-based buying. The BSE Sensex rose 500 points to 53,300 and the NSE Nifty50 was above 15,900, up 150 points. Reliance, ICICI Bank, HDFC twins, and SBI led the upmove. The broader markets were also buoyant. The BSE MidCap and SmallCap indices were up to 1 percent higher. Read more

MARKET UPDATE: Sensex up 300 points to 53,246, while Nifty was around 15,900 level, after touching 16,000 earlier

MARKET UPDATE: Sensex up 300 points to 53,246, while Nifty was around 15,900 level, after touching 16,000 earlier

Friday, May 13, 2022

The Indian key benchmark indices erased their opening gains in early deals as financial stocks underperformed. The BSE Sensex was up 300 points to 53,246, while the NSE Nifty was around the 15,900 level after it touched 16,000 earlier. The broader markets were in the green with the BSE MidCap and SmallCap indices rising up to 1.4 percent. Read more

MARKET UPDATE: Sensex shed around 1,000 points, while Nifty fell below the 15,900-level

MARKET UPDATE: Sensex shed around 1,000 points, while Nifty fell below the 15,900-level

Thursday, May 12, 2022

The Indian key benchmark indices opened with sharp cuts today(12 May 2022) and extended losses in early deals as global markets fell on high US inflation data for April which has further dented the investors' confidence. The BSE Sensex shed around 1,000 points, while the NSE Nifty fell below the 15,900-level. Read more

MARKET UPDATE: Sensex down 250 points to 54,100, while Nifty climbed 60 points to 16,170

MARKET UPDATE: Sensex down 250 points to 54,100, while Nifty climbed 60 points to 16,170

Wednesday, May 11, 2022

The markets in India turned negative in early deals today(11 May 2022) as selling pressure built up in IT and FMCG counters. In tune with the global markets ahead of key macro-economic data the key indices are choppy in trade. The US is slated to release its April inflation numbers later today, while China's factory and consumer prices for the month have come above estimates. China's consumer price index (CPI) for April grew 0.4 percent month-on-month compared to 0.6 percent in March due to Covid-19 induced supply disruptions. The BSE Sensex was down 250 points to 54,100, while the NSE Nifty climbed 60 points to 16,170. Read more

MARKET UPDATE: Sensex rose 100 points to 54,580, while Nifty gained 30 points to 16,330

MARKET UPDATE: Sensex rose 100 points to 54,580, while Nifty gained 30 points to 16,330

Tuesday, May 10, 2022

The markets in India opened with nominal gains today(10 May 2022) as US futures traded higher this morning. The BSE Sensex rose 100 points to 54,580, while the NSE Nifty gained 30 points to 16,330. Among the Sensex-30 shares, Asian Paints, Maruti, HUL, SBI, Ultratech Cement, Bajaj Finserv, Bharti Airtel, Axis Bank, and IndusInd Bank were the top gainers, up to 3 percent higher. Britannia and Shree Cement were the additional Nifty winners. Infosys, RIL, Tata Steel, ONGC, Hindalco, and JSW Steel, meanwhile, were the top laggards across the two benchmarks. Read more

Closing bell: Sensex tumbled to a low of 54,587, and settled 867 points lower at 54,835 while Nifty plunged 272 points to 16,411

Closing bell: Sensex tumbled to a low of 54,587, and settled 867 points lower at 54,835 while Nifty plunged 272 points to 16,411

Friday, May 6, 2022

On closing bell today(6 May 2022) the key benchmark indices ended with significant losses amid a global market rout as record-high inflation fueled fears of a faster rate hike, threatening the world economies. The S&P BSE Sensex tumbled to a low of 54,587 and finally settled 867 points lower at 54,835. In the process, the BSE index was down 3.9 percent (2,226 points) for the week. Similarly, the NSE Nifty plunged 272 points to 16,411, ending the week with a huge loss of 4 percent. Financial and IT shares bore the brunt of the selling pressure. Bajaj Finance slumped 4.8 percent, while Bajaj Finserv tanked 3.5 percent. Axis Bank shed 4 percent. Nestle India too declined by over 3 percent. Read more

CLOSING BELL:Sensex at 55,702, up 33 points while Nifty closed at 16,683, up 5 points

CLOSING BELL:Sensex at 55,702, up 33 points while Nifty closed at 16,683, up 5 points

Thursday, May 5, 2022

Indian equity indices pared their gains at the fag-end of the session and ended flat as US index futures indicated a subdued start on Wall Street later today. The S&P BSE Sensex declined 865 points from the day's high to end at 55,702, up 33 points or 0.06 percent on the BSE. The NSE Nifty50, meanwhile, shut shop at 16,683, up 5 points or 0.03 percent, after hitting a high of 16,946 earlier today. Tech M, Hero MotoCorp, Infosys, HCL Technologies, Wipro, and Tata Steel were the top Nifty gainers, rising 2-4 percent on the NSE. IndusInd Bank, Tata Consumer Products, Britannia Industries, Nestle India, Ultratech Cement, Sun Pharma, Eicher Motors, and RIL were the top laggards, down in the equivalent range. Read more

Closing Bell:Sensex tumbled to a low of 55,502, and ended 1,307 points lower at 55,669 and Nifty plunged 391 points to 16,678

Closing Bell:Sensex tumbled to a low of 55,502, and ended 1,307 points lower at 55,669 and Nifty plunged 391 points to 16,678

Wednesday, May 4, 2022

The Indian markets tanked heavily trades today(4 May 2022) after RBI announced a surprise repo rate hike in an unscheduled meeting. The markets, were, already on tenterhooks awaiting the US Federal Reserve meeting outcome later tonight, wherein a 50 bps rate hike is anticipated. In an unscheduled address, RBI Governor Shaktikanta Das announced that the monetary policy committee has unanimously voted to increase the repo rate by 40 bps to 4.40 percent, adding that the central bank's stance remains accommodative. RBI also raised the CRR limit by 50 bps to 4.5 percent with effect from May 21, which in turn will lead to a withdrawal of Rs 87,000 crore from the system, the governor added. Read more

RBI raises repo rate by 40 bps to 4.40 per cent

RBI raises repo rate by 40 bps to 4.40 per cent

Wednesday, May 4, 2022

RBI Governor Shaktikanta Das today(4 May 2022) said the Monetary Policy Committee (MPC) has unanimously voted to increase the repo rate by 40 basis points to 4.40 percent with immediate effect. The Governor said that the MPC has also decided to remain accommodative while focusing on withdrawal of accommodation to ensure that inflation remains within the target going forward while supporting growth. Consequently, the standing deposit facility (SDF) rate stands adjusted to 4.15 percent and the marginal standing facility rate (MSF) to 4.65 percent. Read more

India's $5-trillion economy dream not before FY29: IMF data

India's $5-trillion economy dream not before FY29: IMF data

Tuesday, May 3, 2022

According to the International Monetary Fund (IMF), the wait for India to become a $5-trillion economic powerhouse by 2024-25 (FY25) is going to take longer than what the finance ministry had originally intended. The vision will instead be achieved in 2028-29 (FY29), revealing the IMF data, illustrating a four-year delay. Chief Economic Advisor (CEA) V Anantha Nageswaran had in February said India would become a $5-trillion economy by 2025-26 or the following year, on the back of an 8-9 percent sustained growth rate in the real gross domestic product (GDP). Read more

Indian exports rose by 24.22 percent to USD 38.19 billion in April

Indian exports rose by 24.22 percent to USD 38.19 billion in April

Tuesday, May 3, 2022

Indian exports rose by 24.22 percent to USD 38.19 billion in April on account of healthy performance by sectors like petroleum products, electronic goods, and chemicals, the commerce ministry said on Tuesday. Imports during the month under review grew 26.55 percent to USD 58.26 billion. The trade deficit in April 2022 widened to USD 20.07 billion as against USD 15.29 billion in the year-ago period, it said.

MARKET UPDATE:Sensex fell 980 points to 57,358, and Nifty slipped 280 points to 17,195

MARKET UPDATE:Sensex fell 980 points to 57,358, and Nifty slipped 280 points to 17,195

Monday, April 18, 2022

The Indian key benchmark indices started today's(18 April 2022) session with deep cuts as large-caps Infosys and HDFC twins opened sharply lower. The BSE Sensex fell 980 points to 57,358, and the NSE Nifty50 slipped 280 points to 17,195 Infosys and HDFC Bank tanked 6 percent and 2.4 percent, respectively, on disappointing Q4 earnings. Tech M, HDFC, Wipro, HCL Tech, TCS, Axis Bank, Bajaj finserv, Kotak Bank and Axis Bank were the other top laggards on the Sensex. On the flip side, Tata Steel, NTPC, ITC, PowerGrid, Nestle, ONGC, Cipla, M&M, and Bajaj Auto were the gainers on the Sensex and Nifty. Read more

Indian economy looks better than others, but uncertainty ahead

Indian economy looks better than others, but uncertainty ahead

Saturday, April 16, 2022

The Indian economy looks better than almost any other, according to some positive thinking analysts. If you consider prices, consumer price inflation in the US is at 8.5 percent, a 40-year high. In the euro area, it is 7.5 percent. These are economies used to inflation averaging less than 2 percent. Here in India we may groan over rising petrol and diesel costs and some spectacular price tags on individual food items. Naturally, criticism of the RBI has grown for not having placed greater emphasis much earlier on controlling inflation, which is now well above the target range. Still, India’s consumer price inflation is moderate at fractionally under 7 percent. Compared with the Brics economies, Brazilian inflation is in the double-digits at 11.3 percent, as is Russia’s at 16.7 percent. Only China has the inflation beast virtually slain, breathing slowly at just 1.5 per cent. (All numbers are as compiled by The Economist) Read more

MARKET UPDATE:Sensex fell around 100 pts to 58,920 and Nifty largely flat to 17,630 levels

MARKET UPDATE:Sensex fell around 100 pts to 58,920 and Nifty largely flat to 17,630 levels

Friday, April 8, 2022

The Indian key benchmark indices gave up early gains today ( 8 April 2022)as the RBI kept the key repo rate unchanged, maintaining the status quo and its accommodative stance. The central bank, however, raised inflation projections for FY23 to 5.7 percent from 4.5 percent, while downgrading real GDP estimates to 7.2 percent from 7.4 percent. The BSE Sensex fell around 100 pts to 58,920 and the NSE Nifty was largely flat to 17,630 levels.

MARKET UPDATE:Sensex down 350 points to 59,240, and Nifty at 17,700 levels, lower by 100 points

MARKET UPDATE:Sensex down 350 points to 59,240, and Nifty at 17,700 levels, lower by 100 points

Thursday, April 7, 2022

The Indian key benchmark indices were trading with cuts today(7th April 2022) tracking weak global markets due to hawkish FOMC meeting minutes. The BSE Sensex was down 350 points to 59,240, and the NSE Nifty was at 17,700 levels, lower by 100 points. HDFC twins, Maruti, Titan, Wipro, Reliance, TCS, Kotak Bank, and Infosys were the top Sensex losers, down up to 2 percent. ONGC and UPL were the additional top losers on the Nifty.Dr Reddy's, Asian Paints, Sun Pharma, Tata Steel, Cipla and Divis Labs, HUL, NTPC, and Ultratech Cement were the top gainers, on the other hand. The BSE MidCap and SmallCap indices in the broader markets were in the positive territory, up to 0.5 percent higher. Read more

India's services sector expands at fastest pace

India's services sector expands at fastest pace

Wednesday, April 6, 2022

The services sector in India expanded at its fastest pace so far this year in March as an easing of Covid-19 restrictions boosted demand, but elevated inflationary pressures clouded business confidence, a private survey showed. The S&P Global India Services Purchasing Managers' Index rose to 53.6 in March from 51.8 in February, beating the 52.5 estimates in a Reuters poll. While the index remained above the 50-mark separating growth from contraction for an eighth straight month, input costs rose at the sharpest pace in 11 years. Higher chemical, fuel, raw materials, retail, transportation, and vegetable prices increased operating expenses, dampening business confidence. Domestic demand increased on high footfall, leading to rising sales and pushing the new business sub-index to a three-month high. However, international demand contracted at its sharpest rate in six months as the Russia-Ukraine war-affected supply chains. Read more

The asset quality of the Indian banking system is set to improve-ICRA

The asset quality of the Indian banking system is set to improve-ICRA

Tuesday, April 5, 2022

The gross non-performing assets (NPAs) of Indian banking systems are estimated to decline to 5.6-5.7 percent by March 2023 from 6.2-6.3 percent in March 2022, according to ICRA. Thus the asset quality of the Indian banking system is set to improve further. The NPAs will decline to 1.7-1.8 percent by end of the current financial year (FY23) as against an estimate of 2 percent by March 2022. However, the rating agency added a caveat saying the performance of restructured loan book poses uncertainty to asset quality. The Russia-Ukraine conflict poses macro-economic challenges related to cost inflation, higher interest rates, and exchange rate volatility, which could pressurise asset quality, it added. The credit and other provisions are estimated to dip to 1.3-1.4 percent of advances in FY23 as against an estimated 1.7-1.8 percent in FY22, said Anil Gupta, vice president, ICRA. Read more

MARKET UPDATE:Sensex down 260 points at 60,348, while Nifty testing 18,000, lower by 58 points

MARKET UPDATE:Sensex down 260 points at 60,348, while Nifty testing 18,000, lower by 58 points

Tuesday, April 5, 2022

The Indian markets opened on a flat note today(5th March 2022), despite upbeat global cues, and slipped into red in early deals. The BSE Sensex was down 260 points at 60,348, while the NSE Nifty was testing 18,000, lower by 58 points. Among the Sensex-30 shares, NTPC, Sun Pharma, M&M, PowerGrid, Maruti, TCS, Tata Steel, Dr. Reddy's, L&T, and Titan were the top gainers. Eicher Motors, Adani Ports, ONGC, and Tata Motors were the additional gainers on the Nifty. On the flip side, Bajaj twins, HDFC twins, IndusInd Bank, Kotak Bank, Ultractech Cement, BPCL, meanwhile were the top losers. The BSE MidCap and SmallCap indices were, however, in the positive territory, up to 0.7 percent higher. Sectorally, Nifty Auto, Pharma, and Consumer Durables were the leading gainers, up to 1 percent higher. Nifty Bank and Financials, meanwhile, were the only weak performers. Read more

MARKET UPDATE:Sensex rose 613 points to 59,890, while Nifty at 17,830, higher by 161 points

MARKET UPDATE:Sensex rose 613 points to 59,890, while Nifty at 17,830, higher by 161 points

Monday, April 4, 2022

The Indian key benchmark indices started today's(4th April 2022) session with a positive note driven by banking majors HDFC and HDFC Bank as the two announced a merger deal. The BSE Sensex rose 613 points to 59,890, while the NSE Nifty was at 17,830, higher by 161 points. Among the Sensex-30 shares, HDFC and HDFC Bank rose 8 percent and 7 percent, respectively, leading to the index's gains. They were followed by Bajaj Finance, Titan, Tech M, Asian Paints, and HCL Tech. On the Nifty, HDFC Life and Divis Labs were the additional top gainers. On the flip side, M&M, Infosys, Maruti, Eicher Motors, Axis Bank, and ONGC were the top losers on the two benchmarks, down up to 1.5 percent. Read more

MARKET UPDATE:Sensex 100 points up at 58,665, while Nifty around 17,500, higher by 36 points

MARKET UPDATE:Sensex 100 points up at 58,665, while Nifty around 17,500, higher by 36 points

Friday, April 1, 2022

The markets in India were holding marginal gains in morning deals today(1 April 2022) after a flat opening on weak global sentiment as US and European indices logged significant losses overnight. The BSE Sensex was 100 points up at 58,665, while the NSE Nifty was around 17,500, higher by 36 points. Among the Sensex-30 shares, NTPC, PowerGrid, Bharti Airtel, Bajaj Finance, Asian Paints, M&M, HDFC Bank, and Reliance were the top gainers, up to 4 percent higher. BPCL, Coal India, UPL, and ONGC, meanwhile, were the additional Nifty gainers. Infosys, HDFC, Titan, Ultratech Cement, Dr Reddy's, Nestle, ICICI Bank, HCL Tech, Tech M, and SBI Life were the top frontline losers, down up to 2.6 percent. Read more

MARKET UPDATE:Sensex rose 100 points at 58,789, while Nifty climbed to 17,532, higher by 34 points

MARKET UPDATE:Sensex rose 100 points at 58,789, while Nifty climbed to 17,532, higher by 34 points

Thursday, March 31, 2022

The Indian benchmark indices started today's(31 March 2022) session with marginal gains, tracking weak global sentiment. The BSE Sensex rose 100 points to 58,789, while the NSE Nifty climbed to 17,532, higher by 34 points. Asian Paints, Axis Bank, M&M, Tata Steel, ITC, HDFC, HUL, ICICI Bank, Kotak Bank, and IndusInd Bank were the top Sensex winners, up between 0.5-2 percent. On the flip side, Infosys, Reliance, Bharti Airtel, L&T, SBI, Wipro, Hindalco, Apollo Hospitals, meanwhile, were the top laggards on the bourses, down up to 3 percent. In the broader markets, the BSE MidCap and SmallCap indices also held mild gains, trading up to 0.6 percent higher. Sectorally, Nifty FMCG, Metals, and Oil & Gas were the top gainers, while PSBs, Realty, and healthcare were subdued. Among stocks, Max Healthcare slipped 3 percent after reports said private equity fund KKR will sell $500 million worth of shares in the company via a block deal today.

CLOSING BELL: Sensex 740 points higher to end at 58,684 while Nifty leaped 173 points to settle at 17,498

CLOSING BELL: Sensex 740 points higher to end at 58,684 while Nifty leaped 173 points to settle at 17,498

Wednesday, March 30, 2022

Cyclical sectors such as financials and autos powered an over 1 percent march on the benchmark indices today(30 March 2022) as investors cheered de-escalation talks between Russia and Ukraine. Investor sentiment was boosted following negotiations between Russian and Ukrainian officials in Turkey, at which Russia's deputy defense minister claimed Moscow had decided to "drastically" cut back its military activity near Ukraine's capital. Against this backdrop, Reliance Industries, HDFC twins, ICICI Bank, Bajaj Finance, and Kotak Bank lifted the benchmark S&P BSE Sensex 740 points higher to end at 58,684. The NSE Nifty50, meanwhile, leaped 173 points to settle at 17,498. The 50-pack index was additionally supported by Bajaj Finserv, Hero MotoCorp, Grasim, Tata Consumer, M&M, and Axis Bank. Read more

MARKET UPDATE:Sensex rose 320 points to 58,265, and Nifty climbed 86 points to 17,410 levels

MARKET UPDATE:Sensex rose 320 points to 58,265, and Nifty climbed 86 points to 17,410 levels

Wednesday, March 30, 2022

The Indian key benchmark indices started today's(30 March 2022) session as Russia said it will pull back troops from Ukraine's Kyiv and other northern areas. The BSE C Bharti Airtel, Bajaj Finance, Nestle, L&T, HDFC, Asian Paints, Maruti, Axis Bank, Ultratech Cement, and IndusInd Bank were the top Sensex winners, up to 1.4 percent higher. While, Tata Consumer, Tata Motors, and HeroMoto were the additional gainers on Nifty. On the downside, Tata Steel, Tech M, Sun Pharma, NTPC, ONGC, Hindalco, and JSW Steel were the top laggards on the bourses. The broader markets also opened firmly in green with the BSE MidCap and SmallCap indices gaining up to 0.9 percent. Read more

India achieve the $400-billion mark for exports as US economy recovers

India achieve the $400-billion mark for exports as US economy recovers

Friday, March 25, 2022

US Economic recovery from the pandemic has helped India achieve the $400-billion mark for exports for the first time in any fiscal year. According to the preliminary data compiled by the Department of Commerce, India exported goods worth $73 billion to the US from April 1 to March 21 — up 47 percent, compared to last year. The US’ share of exports, compared to total exports, stood at 18.2 percent. The country is also India’s largest trading partner and export destination. Read more

Fitch reduces FY23 India growth forecast to 8.5%

Fitch reduces FY23 India growth forecast to 8.5%

Tuesday, March 22, 2022

With the Omicron wave subsiding quickly, containment measures have been scaled back, setting the stage for a pick-up in GDP growth momentum in the June quarter this year, the agency said. It has revised upwards the GDP growth forecast for the current fiscal by 0.6 percentage points to 8.7 percent. "However, we have lowered our growth forecast for FY 2022-2023 to 8.5 percent (-1.8 pp) on sharply higher energy prices," Fitch said while revising up its inflation forecasts. In its Global economic Outlook-March 2022, Fitch said the post-COVID-19 pandemic recovery is being hit by a potentially huge global supply shock that will reduce growth and push up inflation. Read more

Sensex soars over 1,200 points; a few factors fueling the rally

Sensex soars over 1,200 points; a few factors fueling the rally

Wednesday, March 9, 2022

Indian markets gained ground today(9 March 2022) as the Sensex surged over 1,200 points in intra-day trade to reclaim 54,600 levels. Also, the Nifty 50 clawed back to 16,400 levels led by media, realty, and auto stocks. The surge comes in hopes of de-escalation of the Russia-Ukraine conflict after Ukrainian President Zelenskyy indicated that the country was no longer interested in NATO membership, the main reason behind the war. “With humanitarian causes opening up, markets are recovering losses on hopes of a resolution in the Russia-Ukraine conflict, said an expert. Ukraine President Volodymyr Zelenskyy has said he has "cooled down regarding the question of a NATO membership for his country", which was a key reason why Russia went to war with Russia, media reports suggested. Read more

Credit Suisse downgrades India to underweight

Credit Suisse downgrades India to underweight

Tuesday, March 8, 2022

'Credit Suisse', the global research and brokerage house, has downgraded Indian equities from ‘overweight’ to ‘underweight’ citing soaring oil prices that hit a 14-year high of over $140 a barrel in trade yesterday (7th March 20222) “Because of its strong structural prospects and robust EPS momentum, we will look for opportunities to re-enter the market, but today we tactically cut our India position from overweight to underweight. Higher oil prices hurt the current account, add to inflationary pressures and increase sensitivity to Fed rate hikes,” said a note submitted to Credit Suisse. The funds excess available with Credit Suisse as a result of India's downgrade will be used to buy Chinese stocks, it said while upgrading the stocks to overweight (Market Weight earlier). Read more

India's growth will be adversely affected by Russia-Ukraine war

India's growth will be adversely affected by Russia-Ukraine war

Monday, March 7, 2022

India's growth in the next financial year will be adversely affected by factors like Supply disruptions and trade shocks emanating from the Russia-Ukraine conflict, a possible sharp rise in inflation in the next 6-8 months, fiscal pressures, and a widened current account deficit (CAD). Growth is expected to be less than 8% in FY23, economists said as they pitched for a cut in excise duties on oil to cushion the impact on inflation. The Economic Survey had forecast 8-8.5% growth in FY23 at the end of January, days after the International Monetary Fund (IMF) had pegged India's gross domestic product (GDP) growth for the year at 7.1%. Oil prices have hit their highest levels in almost a decade.HDFC Bank expects FY23 CAD at 2.3% and has lowered its FY23 growth forecast to 7.9% from 8.2% projected earlier. Read more

Coal India share price jumps over 7% as arm set to overshoot production

Coal India share price jumps over 7% as arm set to overshoot production

Thursday, March 3, 2022

Shares of Coal India (CIL) surged 7 percent to Rs 198 on the BSE in Thursday’s intra-day trade as the state-run mining giant said that its subsidiary Northern Coalfields Ltd is set to cross production target of 119 million tonnes for the current fiscal. The stock has been gaining for the last four days and has risen nearly 32 percent during the period on improved outlook amid rising commodity prices. European coal surged to historic highs as sanctions against Russia for its assault on Ukraine tightened the global market supply. Benchmark thermal coal in Asia, the largest market for the fuel, soared 46 percent to a record as concerns about disruption to supplies from Russia turbocharged concerns over tight energy markets, Bloomberg reported. The miner had on Tuesday produced 5.67 lakh tonne of the dry fuel, the highest single-day count since its inception, and the total output in the 2021-22 financial year so far stood at 110.5 million tonnes (mt), up by six percent on a year-on-year. Read more

Indian exporters fear $400 mn stuck in Russia due to SWIFT ban

Indian exporters fear $400 mn stuck in Russia due to SWIFT ban

Wednesday, March 2, 2022

With western nations blocking many Russian banks from accessing the SWIFT international payment banking system, following Russia’s invasion of Ukraine, roughly $400 million of Indian exporters may get stuck indefinitely. While exporters will get more clarity on the impact when the finer details of the SWIFT ban are spelled out, they have had discussions with the government to deal with payment-related challenges. One of the options could be to restore the rupee-rouble payment mechanism with Russia, an industry official said, adding that the department of commerce is looking into the concerns of the exporters and is likely to come up with some measures soon. Exporters are also hoping for a wind-down period will be available in the sanctions, which will take care of trade transactions in the pipeline. Read more

GST collection up 18% YoY at over Rs 1.33 trn in February 2022

GST collection up 18% YoY at over Rs 1.33 trn in February 2022

Tuesday, March 1, 2022

GST collections in February stood at over Rs 1.33 trillion in February 2022, an 18 percent growth over the year-ago period, the Finance Ministry said today(1st March 2022). The February mop-up was impacted by the Omicron wave that swept through the country and hence, the gross sales tax collection was lower than the record Rs 1,40,986 crore netted in January. "The gross GST revenue collected in February 2022 is Rs 1,33,026 crore of which Central GST is Rs 24,435 crore, State GST is Rs 30,779 crore, Integrated GST is Rs 67,471 crore (including Rs 33,837 crore collected on import of goods) and cess is Rs 10,340 crore (including Rs 638 crore collected on import of goods)," the ministry said in a statement. Read more

Indiabulls Real Estate surges 12% after clarification on ED investigation

Indiabulls Real Estate surges 12% after clarification on ED investigation

Tuesday, February 22, 2022

Shares of Indiabulls Real Estate gained 12 percent to Rs 115.55 on the NSE in Tuesday’s intra-day trade despite a choppy session, on the back of heavy volumes after the company clarified that Enforcement Directorate (ED) investigation did not pertain to the company and has no bearing on the business and operations of the company.“We wish to clarify that ED has sought some information from Indiabulls Housing Finance (NS: INBF) regarding certain of their clients and it is understood that the necessary data has been provided to ED by IHFL and its officials”, stated the company in an exchange filing. The company’s stock tanked 15% on Monday after the ED conducted searches at the Indiabulls Finance Center in Mumbai and Delhi locations. The raids were conducted based on a Prevention of Money Laundering Act, 2002 (PMLA) case lodged by the ED as an Enforcement Case Information Report (ECIR), against the group’s mortgage lender Indiabulls Housing Finance and its promoters in April 2021. Read more

Closing bell: Sensex gyrated 976 points intra-day but ended 149 points,lower at 57,683.5 and Nifty closed at 17,207, down 70 points

Closing bell: Sensex gyrated 976 points intra-day but ended 149 points,lower at 57,683.5 and Nifty closed at 17,207, down 70 points

Monday, February 21, 2022

The Indian benchmark indices swung in trade today(21st Feb.2022) as investors monitored geopolitical tensions between Russia and Ukraine. While the day began with reports that Russian President Vladimir Putin and his US counterpart Joe Biden had agreed in principle to a summit over the Ukraine crisis, the Kremlin later said there were no concrete plans yet for a summit. Under these circumstances, the S&P BSE Sensex gyrated 976 points intra-day but ended 149 points, or 0.38 percent, lower at 57,683.5. The Nifty50, on the other hand, closed at 17,207, down 70 points or 0.4 percent. Wipro, Infosys, PowerGrid, Shree Cement, Nestle India, ICICI Bank, and HDFC Bank were the top large-cap gainers today, up between 0.7 percent and 1.7 percent. On the downside, Hindalco, UPL, Sun Pharma, Adani Ports, Divis Labs, and TCS were the top drags, down up to 3.45 percent. Read more

MARKET UPDATE: Sensex lower by 444 points at 59,114, and Nifty at 17,645, down 134 points

MARKET UPDATE: Sensex lower by 444 points at 59,114, and Nifty at 17,645, down 134 points

Thursday, February 3, 2022

The Indian benchmark indices extended losses in noon trade and were now down up to 0.7 percent today(3rd February 2022). The BSE Sensex was lower by 444 points at 59,114, and the NSE Nifty was 17,645, down 134 points. HDFC slipped further and was trading 3 percent lower, followed by L&T, Kotak Bank Infosys, Tech M, HUL, Bajaj Finance, IndusInd Bank, RIL, and Dr. Reddy's, all trading 1-2 percent lower. In the broader markets, the SmallCap index had trimmed gains and was down 0.1 percent, while the MidCap index was 0.6 percent lower. The top losers on the index included M&M finance, Godrej Properties, Supreme Ind, Muthoot Finance, Mindtree, Varun Beverages, and InfoEdge, trading 2-6 percent lower. Sectorally, auto shares continued to trade higher, while Financials and IT continued to be top laggards, down nearly 1 percent each. Read more

The good and bad of Budget 2022 for investors, companies & common man

The good and bad of Budget 2022 for investors, companies & common man

Wednesday, February 2, 2022

The Union Budget 2022 is a mixed bag for India's investors, companies, and the common man. Some measures introduced in the Budget would make for good news to them, while some of them can be seen as coming pain points for these sections. Budget 2022 made no change to the existing income tax structure, leaving the common man and some other sections disappointed. There, however, were steps that could turn out to be a major boost for the economy as a whole, going forward. In a budget without any remarkable good news for the individual, the announcement of the upcoming central bank digital currency (CBDC) garnered some attention from Investors. Also, this financial year, a surcharge on long-term capital gains (LTCG) will be capped at 15 percent, a rule that will be applicable to all assets. Until now, it applied only to listed equity shares and units of the equity-oriented fund. Read more

Union Budget 2022:Crypto industry waiting the passing of the Crypto Currency Bill

Union Budget 2022:Crypto industry waiting the passing of the Crypto Currency Bill

Saturday, January 29, 2022

The Union Budget 2022 is being presented at a very crucial juncture for the Indian economy and taxpayers. Covid 19 has resulted in the loss of employment or erosion of income for several personal taxpayers, increased medical expenses, and financial insecurity. Further, the fiscal stimulation measures and higher fiscal deficit have resulted in higher inflation. A major opportunity in investment for the modern generation is cryptocurrency. It is the need of the hour to Introduce clarity on the taxation of cryptocurrency transactions. Read more

Air India Officially taken back by Tata Group

Air India Officially taken back by Tata Group

Thursday, January 27, 2022

The government on Thursday officially handed over Air India to the Tata Group."We are delighted to have Air India back at the Tata group," Tata Sons Chairman N Chandrasekaran said. He said the company is looking forward to creating a “world-class airline"."I warmly welcome all the employees of Air India to our Group, and look forward to working together," Chandrasekaran said. "The strategic disinvestment transaction of Air India successfully concluded today with transfer of 100 percent shares of Air India to M/s Talace Pvt Ltd along with management control. A new Board, led by the Strategic Partner, takes charge of Air India," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey stated. The consideration amount of ₹2,700 crores has been received by the government. The shares have been transferred to Talace. Consideration amount has been received and so the new owner is Talace. The debt of ₹15,300 crores has been accepted by the new owners. Read more

IMF cuts India's GDP forecast for FY22 to 9% from 9.5%

IMF cuts India's GDP forecast for FY22 to 9% from 9.5%

Wednesday, January 26, 2022

The IMF (International Monetary Fund) has cut India's economic growth forecast to 9 percent (from the earlier forecast of 9.5%) for the current fiscal year ending March 31, on concerns over the impact of a spread of a new variant of coronavirus on business activity and mobility. In its latest update of World Economic Outlook yesterday(25th Jan.2022), the international financial institution, which had in October last year projected a 9.5 percent GDP growth for India, put the forecast for the next fiscal FY23 (April 2022 to March 2023) at 7.1 percent. The Indian economy had contracted by 7.3 percent in the 2020-21 fiscal year. Read more

Biggest fall since last April-Sensex crashes 1,546 pts, Nifty ends below 17,150

Biggest fall since last April-Sensex crashes 1,546 pts, Nifty ends below 17,150

Monday, January 24, 2022

Today (24th January 2022) it was all red for Dalal Street with benchmark indices falling the most since April last year in intra-day deals. Panic selling due to the uncertainty around the quantum of a rate hike by the US Fed spooked the markets. Besides, geo-political tensions between Russia and Ukraine, the rising dollar index, and surging oil prices and bond yield added to the woes. The frontline S&P BSE Sensex crashed nearly 2,000 points intra-day, hitting a low of 56,984. It, however, staged a mild recovery in the fag-end and ended 1,546 points, or 2.6 percent, lower at 57,491.5. On the NSE, the Nifty50 shut shop at 17,149, down 468 points or 2.6 percent, with only 2 stocks managing to end higher on the index. Earlier today, it had slipped below the 17,000-mark, hitting a low of 16,998. Read more

As Zomato, Nykaa, MapMyIndia tank up to 20% BSE IPO index plunges 8%

As Zomato, Nykaa, MapMyIndia tank up to 20% BSE IPO index plunges 8%

Monday, January 24, 2022

As the recently listed stocks were hammered today(24 January 2022) amid a heavy sell-off in the markets the S&P BSE IPO index plunged 8 percent. The stock markets were under selling pressure for the fifth straight trading session owing to weak global cues on rising concerns about inflationary pressures, surging coronavirus cases, and prospects of interest rate hikes. Zomato, FSN E-Commerce Ventures (Nykaa), C E Info Systems (MapmyIndia), and PB Fintech, the parent company of Policybazaar were down up to 20 percent in intra-day trade so far. All these stocks hit their respective all-time lows since their listing on the stock market. Latent View Analytics, Go Fashion (India), Chemplast Sanmar, Macrotech Developers (Lodha), CMS Info Systems, Sona BLW Precision Forgings and Devyani International slipped between 8 per cent and 10 per cent on the BSE. Read more

MARKET UPDATE:Sensex down 541 points at 58,496 and Nifty at 17,446, lower by 171 points

MARKET UPDATE:Sensex down 541 points at 58,496 and Nifty at 17,446, lower by 171 points

Monday, January 24, 2022

The Indian benchmark indices extended their opening losses amid broad-based selling today(24th January 2022). The BSE Sensex was down 541 points at 58,496 and the NSE Nifty was at 17,446, lower by 171 points. Bajaj Finance was the top loser on the Sensex, down 3 percent, followed by Tech M, Wipro, Bajaj Finserv, Titan, Asian Paints, Infosys, Tata Steel, Ultratech Cement, HCL Tech, Dr. Reddy's, Kotak Bank, Axis Bank, HDFC Bank, and TCS. On the Nifty, Divis Labs and Hindalco were the top losers, down 5 and 3 percent, respectively. Sectorally, the NiftyConsumer Durables, IT, Metals, and Realty were now down over 2 percent each. Financials, auto, and pharma were 1 percent lower. Read more

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

MARKET UPDATE:Sensex at 59,180, down 284 points while Nifty at 18,670, lower by 86 points

Friday, January 21, 2022

The Indian benchmark indices today(21 January 2022) made a sharp recovery in early morning trade after starting the session with heavy losses. The BSE Sensex was now at 59,180, down 284 points. This was nearly 500 points higher from its day's low. The NSE Nifty, on the other hand, was at 18,670, lower by 86 points. The indices were seen recouping losses on the back of buying in FMCG major HUL(up 2 percent), HDFC, TCS, ITC (up nearly 0,5 percent each), and PowerGrid (up 1.6 percent). On the Nifty, Hindalco, Bajaj Auto, Tata Consumer Hero MotoCorp were the additional gainers. Meanwhile, the top losers were Bajaj finserv, Tech M Coal India, Divis Labs, Dr. Reddy's, Adani Ports, Axis Bank, Kotak Bank, and Shree Cement. Sectorally, auto, and FMCG were the only gainers on the Nifty wherein the latter was supported by gains in HUL and Asian Paints on the back of their strong Q3 results.

MARKET UPDATE:Sensex 142 points lower at 59,956, while Nifty at 17,902 lower by 35 points

MARKET UPDATE:Sensex 142 points lower at 59,956, while Nifty at 17,902 lower by 35 points

Thursday, January 20, 2022

Following the weak global sentiment, the Indian benchmark indices opened on a lower note and extended their losses for a third day today(20th January 2022). The BSE Sensex was 142 points lower at 59,956, while the NSE Nifty was at 17,902, lower by 35 points. In the broader market, the BSE MidCap and SmallCap indices were, however, in the green and were higher by up to 0.2 percent. On the Sensex, PowerGrid, Ultratech Cement, Tata Steel, Axis Bank, Bharti Airtel, Bajaj Finserv Bajaj Finance, and ITC.were the top gainers, up between 0.3-2 percent. On the Nifty, Tata Consumer, Grasim, Coal India, Hero Moto Corp, and Eicher Motors were the additional gainers. 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

MARKET UPDATE:Sensex 290 points lower at 61,017 and Nifty down by 94 points at 18,213

MARKET UPDATE:Sensex 290 points lower at 61,017 and Nifty down by 94 points at 18,213

Tuesday, January 18, 2022

The Indian benchmark indices today (18th Jan.2022) were seen coming under selling pressure in early morning deals after a positive start. The BSE Sensex was 290 points lower at 61,017 and the NSE Nifty was down by 94 points at 18,213. The two indices were down by up to 0.5 percent. On the Sensex, only 8 stocks were now in green, as investors booked profits in others. Losses in RIL, Infosys, HDFC, down ( down 0.7 percent each, Maruti (down 3 percent), and Ultratech Cement (down 2 percent) contributed maximum to the index's losses. On the Nifty, Eicher Motors, UPL, Tata Consumer, Divis's Lab, and Grasim were the additional losers. The broader markets, too, were muted in line with the benchmarks. The BSE MidCap and SmallCap indices were now up to 0.6 percent lower. Read more

MARKET UPDATE:BSE Sensex down 182 points at 61,053 and the NSE Nifty 54 points lower at 18,203

MARKET UPDATE:BSE Sensex down 182 points at 61,053 and the NSE Nifty 54 points lower at 18,203

Friday, January 14, 2022

The benchmark indices in India were seen recouping opening losses and were down up to 0.3 percent today (14th Jan.2022). The BSE Sensex was now down 182 points at 61,053 and the NSE Nifty was 54 points lower at 18,203. The mild recovery in the indices was being supported by gains in heavyweights RIL (up nearly 1 percent) and HDFC Bank( up 0.5 percent), followed by L&T, Ultratech Cement, and Maruti. On the Nifty, Tata Consumer, IOC, BPCL, and SBI Life were the additional gainers. The majority of stocks (30), however, were still negative. Broader indices BSE MidCap and SmallCap were, however, outperforming the benchmarks and were up 0.2 and 0.3 percent, respectively. Read more

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250

MARKET UPDATE:BSE Sensex 115 points higher at 61,265, while the NSE Nifty 37 points up at 18,250

Thursday, January 13, 2022

In the Indian markets, benchmark indices today (13th January 2021)steadily held opening gains in early morning trade. The BSE Sensex was 115 points higher at 61,265, while the NSE Nifty was 37 points up at 18,250. On the Sensex, Tata Steel and PowerGrid were the leading gainers, up 3 percent each, followed by Sun Pharma, NTPC, ITC, L&T, and RIL. On the flip side, Wipro was the biggest loser, down 5 percent, after the company fell short of market expectation, as it’s net profit was up 1.3 percent on a quarter on quarter (QoQ) basis at Rs 2,969 crore for the third quarter ended December 2021 (Q3FY22). READ HERE. HDFC Bank, HCL Tech, M&M, Titan, Asian Paints, Axis Bank, and IndusInd Bank were the other notable losers. Read more

Closing bell: BSE Sensex ended 553 points higher at 61,150 and NSE Nifty ended with a gain of 156 points at 18,212

Closing bell: BSE Sensex ended 553 points higher at 61,150 and NSE Nifty ended with a gain of 156 points at 18,212

Wednesday, January 12, 2022

The Indian benchmark indices extended their winning run into the fourth straight trading session backed by solid gains in index heavyweights - Reliance Industries, Infosys, ICICI Bank, and Bharti Airtel. Reliance and Airtel were in the limelight, on reports that the three telecom majors (Jio, Airtel, Voda Idea) have sought 90-95 percent reduction in 5G spectrum auction prices. The IT shares were expected to be in focus owing to results announcements from Infosys, TCS, and Wipro. While IT major Infosys ended with a gain of 1.1 percent, TCS and Wipro, however, were down 1.5 percent and 0.3 percent, respectively, in trades awaiting the Q3 result announcements. Read more

GOI seeks Rs 15-trn valuation for LIC in India's biggest IPO

GOI seeks Rs 15-trn valuation for LIC in India's biggest IPO

Wednesday, January 12, 2022

GOI is pushing for a valuation of about Rs 15 trillion ($203 billion) for LIC that’s soon expected to file for the nation’s biggest initial public offering, people familiar with the matter said, even as arrangers awaited a final report on the firm’s estimated worth. The so-called embedded value of Life Insurance Corp. of India is likely to be more than Rs 4 trillion, and its market value could be about four times that amount, the people said, asking not to be identified as the discussions are private. Once the final report is in, the valuation the government is seeking could change. Embedded value, a key metric for insurers, combines the current value of future profits with the net value of assets. The gauge will be part of LIC’s IPO prospectus that’s likely to be filed in the week starting Jan. 31. Typically, the market value of insurers is between three and five times the embedded value. Read more

MARKET UPDATE:BSE Sensex up 343 points 60,960, and NSE Nifty nearly 100 points higher at 18,154

MARKET UPDATE:BSE Sensex up 343 points 60,960, and NSE Nifty nearly 100 points higher at 18,154

Wednesday, January 12, 2022

The Indian benchmark indices were firm in early morning deals today(12th January 2022) holding their opening gains on the back of buying in heavyweight RIL, private lender HDFC and select banking counters such as ICICI Bank, Kotak Bank, and SBI. All of these were up between 0.9-1.6 percent. The BSE Sensex was up 343 points 60,960, after reclaiming the 61,000 mark at open. The NSE Nifty was nearly 100 points higher at 18,154. The BSE MidCap and SmallCap indices too were firmly positive and were up 0.7 and 0.8 percent, respectively. Sectorally, on the NSE, the Realty index was the leading gainer, up nearly 3 percent, followed by metals, energy, and PSU Banks. Read more

MARKET UPDATE:BSE Sensex up over 174 points at 60,570, and NSE Nifty at 18,047, higher by 44 points

MARKET UPDATE:BSE Sensex up over 174 points at 60,570, and NSE Nifty at 18,047, higher by 44 points

Tuesday, January 11, 2022

The Indian benchmark indices started on a positive note today(11th January 2022) extending the previous session's strong rally. The BSE Sensex was up over 174 points at 60,570, and the NSE Nifty was at 18,047, higher by 44 points. In the broader market, the BSE MidCap and SmallCap indices were also in the green zone and were up 0.2 and 0.6 percent, respectively. Among the Sensex-30 constituents, HDFC, NTPC, Ultratech Cement, PowerGrid, Sun Pharma, HUL, IndusInd Bank, Bajaj Finserv, Titan, and Dr. Reddy's were the top gainers, up between 0.4-1.6 percent. On the Nifty, Grasim, Tata Consumer, Shree Cement were the additional gainers. Meanwhile, Tata Steel, Bajaj Finance, Asian Paints, M&M, Kotak Bank, L&T, ICICI Bank, SBI, and Axis Bank were the top losers, down 0.3-4 percent on the BSE. Read more

Banks see uptick in credit growth and asset quality likely to improve

Banks see uptick in credit growth and asset quality likely to improve

Monday, January 10, 2022

According to some analysts, banks saw some uptick in credit growth during the October – December period of 2021, which could help them report better profitability. The credit growth remained sluggish since the start of the coronavirus (Covid-19) pandemic in March 2020. Q3FY22 saw loan growth improving due to festive season demand along with pent-up demand as there were minimum economic disruptions due to lockdowns. According to Reserve Bank of India’s (RBI) data, year-on-year loan growth of banks inched up to 7.3 percent by the end of September, from about 6.1 percent in June end. "Q3FY22 is expected to be sequentially better on the growth and operational front for lenders, in general, barring a few exceptions,” ICICI Securities said in a note. Read more

MARKET UPDATE:BSE Sensex up 464 points at 60,209, and NSE Nifty higher by 136 points at 17,949

MARKET UPDATE:BSE Sensex up 464 points at 60,209, and NSE Nifty higher by 136 points at 17,949

Monday, January 10, 2022

The Indian benchmark indices today (10th Jan.2021) were firmly holding their opening gains amid broad-based buying and gains in heavyweights ITC, Infosys, and HDFC Bank. The BSE Sensex was up 464 points at 60,209, and the NSE Nifty was higher by 136 points at 17,949. The two indices were up 0.8 percent each. In the broader markets, the BSE MidCap and SmallCap indices were also higher by up to 0.9 percent. Among the top gainers were Maruti (up 3.6 percent), ITC (up 2.1 percent) Infosys (up 1.7 percent), and banking stocks on the Sensex. Further, shares of Tata Consultancy Services (TCS) jumped 3 percent to Rs 3,979.90 on the BSE after India's largest information technology (IT) firm said its board will consider a buyback proposal on Wednesday, January 12, 2022. The stock traded close to its record high level of Rs 3,990 touched on October 8, 2021. Read more

MARKET UPDATE:BSE Sensex 680 points lower at 59,542, and NSE Nifty at 17,730, lower by 195 points

MARKET UPDATE:BSE Sensex 680 points lower at 59,542, and NSE Nifty at 17,730, lower by 195 points

Thursday, January 6, 2022

The Indian benchmark indices were deep in the red as they ended a streak of four-day gains with sharp losses today(6th January 2022). The BSE Sensex was 680 points lower at 59,542, and the NSE Nifty was 17,730, lower by 195 points. The two indices were down over 1 percent each. In tandem with this, the broader markets were also negative but were seen trimming losses. The BSE MidCap and SmallCap indices were down 0.6 and 0.4 percent, as compared to the 1 percent fall in the benchmarks. Sectoral rotation in favour of financials, particularly leading banks, is a likely scenario in 2022. There are market signals and macro triggers favouring financials. So, market corrections may be used to buy high-quality financials and large-cap IT, he said. Read more

MARKET UPDATE:BSE Sensex up 100 points at 59,962, and NSE Nifty at 17,839, higher by 34 points

MARKET UPDATE:BSE Sensex up 100 points at 59,962, and NSE Nifty at 17,839, higher by 34 points

Wednesday, January 5, 2022

The Indian benchmark indices were seen recovering slightly in early morning deals in a volatile market today(5th January 2021). The BSE Sensex was up nearly 100 points at 59,962, and the NSE Nifty was at 17,839, higher by 34 points. Banking counters were the leading gainers with the Nifty Bank index up 1.2 percent. The top gainers on the Sensex were Bajaj twins(up 2 percent), followed by HDFC Bank, ICICI Bank, Axis Bank, SBI, up percent each. Metal stocks were also strong with APL Apollo, Jindal Steel, SAIL, JSW Steel, NMDC, HindCopper, Tata Steel, up between 0.6-1.8 percent. On the flip side, IT and Pharma stocks were the major laggards. Tech Mahindra, HCL Technology, Wipro, Infosys, and TCS were trading 0.8-2 percent lower on the BSE. Read more

MARKET UPDATE:BSE Sensex 332 points up at 59,515 and the NSE Nifty at 17,714, higher by 90 points

MARKET UPDATE:BSE Sensex 332 points up at 59,515 and the NSE Nifty at 17,714, higher by 90 points

Tuesday, January 4, 2022

The Indian benchmark indices extended opening gains and were rallying 0.5 percent higher today(4th January 2022). The BSE Sensex was 332 points up at 59,515 and the NSE Nifty was at 17,714, higher by 90 points. Energy majors NTPC and PowerGrid were the top gainers on the Sensex, up over 3 percent each, followed by banking stocks such as Axis Bank, SBI Bank, ICICI Bank, and heavyweight Reliance Industries. On the flip side, IT stocks Infosys, Wipro, and HCL Technology were down between 0.6-0.8 percent. Pharma stocks Sun Pharma and Dr. Reddy's were also in the red zone. Meanwhile, the broader market was also positive. The BSE MidCap and SmallCap indices were up 0.1 and 0.3 percent, respectively. Read more

India's Manufacturing PMI falls to three month low in December amid Covid fears

India's Manufacturing PMI falls to three month low in December amid Covid fears

Monday, January 3, 2022

India’s manufacturing activity lost some momentum in December falling to a three-month low after hitting a 10 month high in November, amid fears that the rapidly spreading third wave of the Coronavirus (Covid-19) pandemic may hit consumer sentiment and output. Data released by the analytics firm IHS Markit showed that the Purchasing Managers’ Index (PMI) for manufacturing fell to 55.5 in December from 57.6 in November. A reading above 50 indicates expansion in economic activity and a number below that signals contraction. “Companies continued with their stock-building initiatives, as evidenced by another robust upturn in buying levels. Business confidence strengthened, but sentiment was again dampened by concerns surrounding supply-chain disruptions, Covid-19 and inflationary pressures,” the data analytics firm said. Read more

MARKET UPDATE:BSE Sensex waat 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher

MARKET UPDATE:BSE Sensex waat 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher

Monday, January 3, 2022

The Indian benchmark indices started on a positive note on the first trading day of the new year(3rd January 2022) and were up by 0.6 percent. The BSE Sensex was at 58, 587, up 334 points, while the Nifty50 was at 17,464, 110 points higher. In the broader market, the BSE MidCap and SmallCap indices were also in the green and were up 0.5 and 0.8 percent. Among the Sensex-30 constituents, Tech Mahindra, TCS, Wipro, Asian Paints, HCL tech, PowerGrid, Infosys, NTPC, Titan, RIL were the top gainers, up 0.6-1 percent. While Ultratech Cement and M&M were the losers. All sectoral indices were also positive except pharma.

MARKET UPDATE:Sensex crossed the 58,000 mark and at 58,131, up over 300 points, while the NSE Nifty up nearly 100 points at 17,300

MARKET UPDATE:Sensex crossed the 58,000 mark and at 58,131, up over 300 points, while the NSE Nifty up nearly 100 points at 17,300

Friday, December 31, 2021

The Indian benchmark indices had a positive start today after four days of muted action and rallied up to 0.6 percent. The BSE Sensex crossed the 58,000 mark and was at 58,131, up over 300 points, while the NSE Nifty was up nearly 100 points at 17,300. The broader markets were also in the green. The BSE MidCap and SmallCap indices were 0.7and 0.9 percent higher, respectively. Among the Sensex-30 shares, Titan, Kotak Bank, Axis Bank, Tata Steel, ICICI Bank, Ultratech Cement, Reliance, Bharti Airtel, M&M, ITC, HUL, were among the major gainers, up 0.6-2 percent. On the Nifty, Hindalco (up 3.5 percent), Tata Motors( up 1.8 percent), and Grasim( up 1.4 percent) were the additional gainers. Read more

MARKET UPDATE:volatile;BSE Sensex nearly 50 points lower at 57,755 while the Nifty50 testing the 17,200-mark

MARKET UPDATE:volatile;BSE Sensex nearly 50 points lower at 57,755 while the Nifty50 testing the 17,200-mark

Thursday, December 30, 2021

The benchmark indices opened on a quiet note for a second day amid slow investor participation and concerns around the omicron variant. The BSE Sensex was nearly 50 points lower at 57,755, while the Nifty50 was testing the 17,200-mark. In the broader markets, the BSE MidCap was 0.1 percent lower dragged by RBL Bank, Oberoi Realty, Shriram Transport Finance, Godrej Properties, Indian Hotels, Lodha, JSW Energy, IRCTC, down 1-3 percent. The BSE SmallCap index was, however, in the green zone, up 0.3 percent. Among Sensex-30 constituents, PowerGrid, Wipro, Tata Steel, Titan, Bharti Airtel, HCL Technologies, Tech Mahindra, Dr. Reddy's, Maruti, TCS, Infosys were the leading gainers, up 0.3-1 percent. On the Nifty, Tata Consumer was the additional gainer. Read more

MARKET UPDATE:Sensex testing the 58,000-mark,up over 100 points and the Nifty50 nearky 30 points higher, at 17,272

MARKET UPDATE:Sensex testing the 58,000-mark,up over 100 points and the Nifty50 nearky 30 points higher, at 17,272

Wednesday, December 29, 2021

The Indian benchmark indices continued to inch up and held onto mild gains today (29th December 2021). The BSE Sensex was testing the 58,000-mark and was up over 100 points, while the NSE Nifty 50 was nearly 30 points higher, at 17,272. The broader market was a bit higher than the frontline indices. The BSE MidCap and SmallCap indices were trading 0.4 and 0.7 percent higher, respectively. Among stocks, Amara Raja Batteries was up 1 percent after the company, as part of its strategic initiatives to venture into the new-energy business and EV batteries agreed to invest up to Euro 10 million by way of equity and convertible bonds in InBot Auto AS, Oslo Norway. Read more

Indian economy was growing steadily before Omicron hit

Indian economy was growing steadily before Omicron hit

Tuesday, December 28, 2021

In the month of November that saw the omicron variant of coronavirus induce fresh concerns about risks to the recovery, India’s economy was expanding at a steady pace. All eight high-frequency indicators tracked by Bloomberg News were steady last month, keeping the needle on a dial measuring the so-called ‘Animal Spirits’ unchanged at 5. The level was arrived at by using the three-month weighted average readings to smooth out volatility in the single-month scores. But the pace of activity based on indicators from demand for services to factory output-faces threats from rising cases of the omicron variant first detected in South Africa toward the end of last month. While the Reserve Bank of India this month kept its full-year growth forecast steady at 9.5%, Governor Shaktikanta Das sounded cautious, saying “it is too premature to gauge” the effects of the new strain at this stage. Read more

MARKET UPDATE:Sensex up 393 points at 57,814 and the Nifty50 at 17200, up 114 points

MARKET UPDATE:Sensex up 393 points at 57,814 and the Nifty50 at 17200, up 114 points

Tuesday, December 28, 2021

The Indian benchmark indices opened higher today(28th Dec.2021) supported by robust global sentiment and were rallying up to 0.7 percent. The BSE Sensex was up 393 points at 57,814 and the Nifty50 was at 17200, up 114 points. In line with this, broader market indices-BSE MidCap and SmallCap-were also in the positive zone, trading 0.5 percent and 0.8 percent up, respectively. On the NSe, Nifty SmallCap 100 and 250 indices were leading the gains, trading 1.2 percent up. On the Sensex, apart from Dr. Reddy's Labs, down 0.5 percent, the rest were trading in the green. Asian Paints, HCL Technology, PowerGrid, Infosys, NTPC, Axis Bank, Tech Mahindra, Bajaj Finserv, SBI Bank were the leading gainers, up 0.6-1.4 percent. Read more

MARKET UPDATE:Sensex nearly 500 points down to quote at 56,618 level while the Nifty at 16,891, down 158 points

MARKET UPDATE:Sensex nearly 500 points down to quote at 56,618 level while the Nifty at 16,891, down 158 points

Monday, December 27, 2021

Indian benchmark indices opened lower today(27th December 2021) amid weak sentiment. The BSE Sensex was trading nearly 500 points down to quote at 56,618 level while the Nifty50 was at 16,891, down 158 points. In the broader markets, the BSE MidCap and SmallCap indices were also in the red zone, trading 1 percent lower. Among individual stocks that comprise the Sensex, IndusInd Bank, Bajaj Finance, Bajaj Finserv, Asian Paints, Maruti Suzuki, and Axis Bank were among the top losers that slipped 0.7 percent to 4.6 percent. RBL Bank lost 15 percent to Rs 146 levels after the bank said over the weekend that Vishwavir Ahuja, its managing director, and chief executive officer, had gone on leave after the Reserve Bank of India appointed Yogesh K Dayal as an additional director of the bank. Action for RBL is important in light of the problems encountered by private lenders like YES Bank and Lakshmi Vilas Bank last year. Read more

MARKET UPDATE:Sensex, Nifty volatile;Sensex around 57,300, down 10 points while the Nifty little changed at 17,050

MARKET UPDATE:Sensex, Nifty volatile;Sensex around 57,300, down 10 points while the Nifty little changed at 17,050

Friday, December 24, 2021

Indian benchmark indices started on a muted note today(24th December 2021). The BSE Sensex was around 57,300, down 10 points while the Nifty50 was little changed at 17,050. In the broader markets, the BSE MidCap and SmallCap indices slipped up to 0.45 percent. Data Patterns (India) is set to debut on a stellar note today. The IPO had received a strong response with subscriptions of more than 111 times. The Grey Market Premium (GMP) indicates a likely 45-50 percent listing gain versus the issue price of Rs 585 per share.

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points

MARKET UPDATE: Sensex surged 261 points to quote at 57,224 level while Nifty at 17,039 up 83 points

Thursday, December 23, 2021

Indian benchmark indices, in line with positive global market trends, the benchmark indices opened higher and rose up to 0.5% today(23rd Dec.2021). The BSE Sensex surged 261 points to quote at 57,224 level while the Nifty50 was at 17,039, up 83 points. In the broader markets, the BSE MidCap and SmallCap indices gained 0.6 per cent each.

MARKET UPDATE: Sensex hit highs of 56,504 (up nearly 650 points) while Nifty at 16,807 levels, up 192 points

MARKET UPDATE: Sensex hit highs of 56,504 (up nearly 650 points) while Nifty at 16,807 levels, up 192 points

Tuesday, December 21, 2021

Indian benchmark indices started higher today(21st December 2021), after two days of relentless selling, on the back of broad-based buying. The BSE Sensex climbed 468.5 points at 56,290.5 level while the Nifty50 tested the 16,750-mark, up 128 points. Soon after, the indices extended gains and hit highs of 56,504 (up nearly 650 points) and 16,807 (up 192 points). All the 30 index constituents on the Sensex were ruling higher led by Titan (up 2.5 percent), HCL Tech, Tata Steel, L&T, and ICICI Bank. On the Nifty, only Eicher Motors was in the negative zone. In the broader markets, the BSE MidCap and SmallCap indices on the BSE gained up to 1 percent. Among individual stocks, the shares of IDBI Bank were up 1 percent after the bank clarified that Mumbai-based diamond merchant Sanghavi Diamonds has defaulted on a loan worth Rs 16.72 crore as against the reported amount of Rs 6,710 crore. Read more

MARKET UPDATE: Sensex quoted 653 points lower at 56,358 level while Nifty broke below the 16,800-mark at 16,795, down 190 points

MARKET UPDATE: Sensex quoted 653 points lower at 56,358 level while Nifty broke below the 16,800-mark at 16,795, down 190 points

Monday, December 20, 2021

Indian benchmark indices opened lower today (20th Dec.2021) as investors continue to track the spread of the Omicron Covid variant. The World Health Organization recently warned that the number of cases is doubling in 1.5 to 3 days in areas with community spread. That apart, Asian stocks dropped in early trading today after China slashed its benchmark lending rate for the first time in more than one-and-a-half years. The move likely indicates policymakers' concerns around the slowing economic growth in China, which worried investors. The BSE Sensex quoted 653 points lower at 56,358 level while the Nifty50 broke below the 16,800-mark at 16,795, down 190 points. Both the indices were down over 1 percent each. In the broader markets, the BSE MidCap and SmallCap indices fell 2 percent each. Read more

No relaxation in asset classification, provisioning norms for NBFCs : RBI

No relaxation in asset classification, provisioning norms for NBFCs : RBI

Friday, December 17, 2021

The Reserve Bank of India (RBI) has turned down the request of non-banking financial companies (NBFC) to relax asset classification and provisioning norms. This will give rise to bad debt numbers of such para banks on technical grounds while making asset quality norms standardised across banks and NBFCs. The para banks are now rapidly filling in the positions left vacant by the risk-averse banks, and their asset book is close to 20 percent of banks’ total credit. The NBFC lobby group Finance Industry Development Council (FIDC) had approached the RBI to offer relaxation in the NPA norms, but the RBI has declined to do so, according to the sources. Read more

MARKET UPDATE:Sensex opened at 57,853.5 level,down 47.5 points while the Nifty at 17,221 levels, down 27 points

MARKET UPDATE:Sensex opened at 57,853.5 level,down 47.5 points while the Nifty at 17,221 levels, down 27 points

Friday, December 17, 2021

Indian equities started off on a cautious note today(17th Dec.2021) amid the acceleration of bond-buying programmes by various central banks to fight off inflation and suck excess liquidity out of the system. After the US Fed, the European Central Bank, and the Bank of Japan have decided to hasten the asset purchase programmes. That apart, the Bank of England became the first global central bank on Thursday to raise the interest rate by 25 basis points. Against this backdrop, the S&P BSE or 0.08 percent. It's NSE counterpart Nifty50, too, quoted at 17,221 levels, down 27 points in early deals. In the broader markets, the BSE MidCap and SmallCap indices dipped 0.33 percent and 0.1 percent, respectively. Read more

Steady depreciation in rupee spells trouble for stock prices

Steady depreciation in rupee spells trouble for stock prices

Thursday, December 16, 2021

A steady depreciation in the rupee spells trouble for the rally on D-Street. Historically, most rallies in the equity market have occurred either when the rupee has appreciated or has been stable. In contrast, a decline in the value of the rupee against the dollar has been accompanied by market decline. For example, the BSE Sensex is down around 2.6 percent since the beginning of November, against a similar 1.9 percent fall in the value of the rupee against the dollar in the period. Today (16th Dec.2021), the equity market and the rupee ended in the red. The Indian currency closed at around 76.23 to a dollar, down around 0.47 percent, from Rs 75.87 on Tuesday. In comparison, the BSE Sensex was down 0.57 percent on Wednesday. Read more

MARKET UPDATE:Sensex rose 482.5 points to quote at 58,270.5 levels while the Nifty climbed 142 points to trade at 17,362

MARKET UPDATE:Sensex rose 482.5 points to quote at 58,270.5 levels while the Nifty climbed 142 points to trade at 17,362

Thursday, December 16, 2021

Indian stocks in tune with Asian stocks followed Wall Street higher today(16th Dec.2021) after the US Federal Reserve said it would end bond-buying stimulus in March to set up three interest rate increases next year to tackle heated inflation. The S&P BSE Sensex rose 482.5 points, or 0.83 percent, to quote at 58,270.5 levels in early trade. The NSE Nifty, too, climbed 142 points to trade at 17,362. The broader indices on the BSE rose in tandem as well and added up to 0.88 percent. The Federal Open Market Committee (FOMC) laid out a scenario in which the Covid-19 pandemic, despite the emergence of the Omicron variant, gives way to a benign set of economic conditions, with inflation easing largely on its own, interest rates increasing comparatively slowly, and the unemployment rate staying low in coming years. Read more

The bumper festival season may help push India’s gold imports to as much as 900 tons this year

The bumper festival season may help push India’s gold imports to as much as 900 tons this year

Thursday, December 16, 2021

A flurry of weddings is seen as couples rush to tie the knot following a lifting of some virus curbs. About 2.5 million ceremonies are estimated to have taken place since mid-November, around a quarter of this year’s expected annual total, after the government eased some restrictions around gatherings. It’s a stark turnaround for India’s jewelers, who have seen demand hammered for almost two years as the coronavirus led to the postponement of many weddings while broader financial hardship further curbed purchases. The bumper festival season may help push India’s gold imports to as much as 900 tons this year, the highest in six years, Metals Focus Ltd said. That’s up from about 350 tons last year, according to World Gold Council figures. Read more

MARKET UPDATE:Sensex down 295 points at 57,821 levels,while the Nifty down 79 points at 17,250

MARKET UPDATE:Sensex down 295 points at 57,821 levels,while the Nifty down 79 points at 17,250

Wednesday, December 15, 2021

Worries ahead of the US Fed outcome and increasing warning calls by the WHO against the Omicron coronavirus variant are keeping investors on the sidelines. After starting with mild gains, the benchmark indices quickly slipped into the negative zone today(15th Dec.2021). The BSE Sensex was down 295 points at 57,821 levels, while the Nifty50 was down 79 points at 17,250. All sectors, barring the metal index, were in the red. The Fed is the first among the four major global central banks, set to meet this week, to discuss whether to guard against inflation and end the current era of low-interest rates and central bank asset purchases or sit tight given the economic threat posed by the new variant. Against this backdrop, the BSE Sensex started at 58,144 level, up 27 points. The NSE Nifty, too, was little changed at 17,335.25, up 10 points.M&M (up 2 percent) was the top Sensex gainer, followed by ITC (1 percent), Axis Bank, Power Grid, NTPC, and HDFC Bank. Read more

MARKET UPDATE:Sensex declined 383 points to 57,900 levels while the Nifty gave up 17,300-mark and was down 97 points

MARKET UPDATE:Sensex declined 383 points to 57,900 levels while the Nifty gave up 17,300-mark and was down 97 points

Tuesday, December 14, 2021

The BSE Sensex declined 383 points, or 0.66 percent, to 57,900 levels in early deals, dragged by Bajaj Finance, HDFC, IndusInd Bank, Infosys, and Kotak Bank in today's (14th Dec.2021) early deals in the background of WHO's grim statement on the 'Omicron' coronavirus variant, coupled with a downward revision of growth forecast by the Asian Development Bank (ADB). The NSE Nifty, on the other hand, gave up 17,300-mark and was down 97 points. In the broader markets, the BSE MidCap and SmallCap indices dipped up to 0.5 percent. Among individual stocks, shares of Shriram Transport Finance dropped over 3 percent after the Group announced a restructuring plan. As part of the plan, the Shriram Group, Shriram Capital, and Shriram City Union Finance will merge with Shriram Transport Finance Company. Those of Greenlam, on the contrary, were up 6 percent as the company plans to invest Rs 950 crore in 2-3 years as part of its Capex plan. Read more

MARKET UPDATE:Sensex zoomed 326 points to quote at 59,113 levels while the Nifty rallied above 17,600-mark, up 100 points

MARKET UPDATE:Sensex zoomed 326 points to quote at 59,113 levels while the Nifty rallied above 17,600-mark, up 100 points

Monday, December 13, 2021

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

Nomura's outlook for India reg.economy,markets and investing strategy in 2022

Nomura's outlook for India reg.economy,markets and investing strategy in 2022

Friday, December 10, 2021

Most brokerages, including Nomura, had downgraded Indian equities in October 2021. Heading into 2022, a change in policy stance by the US Federal Reserve (US Fed), inflation risk, and the new Covid variants are some of the risks that will impact the global economy and financial markets, including India, Nomura said. Despite these headwinds, Nomura expects Asian stocks to deliver double-digit returns by end-2022 (base case end-2022F MXASJ target is 925; around 18 percent higher from the current levels), driven largely by earnings growth and flat multiples from a low base. “Material declines for Asia stocks are unlikely, as we see several buffers this time (valuations, positioning, fundamentals). Peaking US inflation, and the bottoming out of growth and modest policy easing in China into Q1-2022 should provide relief for Asia stocks eventually,” Nomura said. 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.

The Rs 1,039.61 crore IPO of CE Info Systems (MapmyIndia) kicked off today

The Rs 1,039.61 crore IPO of CE Info Systems (MapmyIndia) kicked off today

Thursday, December 9, 2021

The company has fixed the price band for the stake sale at Rs 1,000-1,033 apiece and investors can bid for a minimum of 14 shares and then in multiples thereof. The majority of the brokerage houses have suggested investors subscribe to the issue, thanks to its high growth potential, conservative valuations, robust client base, and entry barrier to the business. Founded in 1992, MapmyIndia is a leading provider of advanced digital maps, geospatial software, and location-based IoT technologies in India. While consumer-based apps like Google Maps are free, API and enterprise-based solutions are paid services and the company has an edge due to its maps being more accurate compared to peers, said Reliance Capital in its IPO note. Read more

MARKET UPDATE:Sensex jumped 224 points, at 58,874 levels while the Nifty added 60 points, to 17,530-mark

MARKET UPDATE:Sensex jumped 224 points, at 58,874 levels while the Nifty added 60 points, to 17,530-mark

Thursday, December 9, 2021

Market bulls roared on Dalal Street for the third straight day today(9th December 2021) amid across-the-board buying. Besides, a firm global set-up amid encouraging news flow around the efficacy of Pfizer's vaccine against the Omicron variant boosted investor confidence. The S&P BSE Sensex jumped 224 points, or 0.4 percent, at 58,874 levels in early deals. The Nifty50, too, added 60 points, or 0.4 percent, to 17,530-mark. BPCL, M&M, Ultratech cement, L&T, Infosys, RIL, and ICICI Bank were the outperforming large-caps on the 50-pack index. Read more

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:Sensex up 642 points at 58,276 levels while the Nifty back above the 17,350-mark

MARKET UPDATE:Sensex up 642 points at 58,276 levels while the Nifty back above the 17,350-mark

Wednesday, December 8, 2021

The Indian benchmark indices started firm today(8th December 2021), ahead of the RBI's monetary policy outcome. The six-member monetary policy committee (MPC), headed by Governor Shaktikanta Das, is likely to maintain key interest rates for a ninth straight meeting, retaining an accommodative stance amid the threat surrounding the Omicron coronavirus variant. The S&P BSE Sensex was up 642 points, or 1.11 percent, at 58,276 levels in early deals while the Nifty50 index was back above the 17,350-mark. The 50-pack index gained 192 points or 1.12 percent. 49 of the 50 Nifty constituents were trading in the green, led by ONGC (up 2.5 percent), Infosys, Wipro, ICICI Bank, Reliance Industries, Indian Oil Corporation, and Bharti Airtel. The only loser was Divis Labs, down 0.15 percent. Read more

MARKET UPDATE:Sensex slipped 71 points at 57,625 levels while the Nifty50 was at 17,169, up 28 points

MARKET UPDATE:Sensex slipped 71 points at 57,625 levels while the Nifty50 was at 17,169, up 28 points

Monday, December 6, 2021

Indian equities started in the red today(6th December 2021), down 0.12 percent, on the bourses. The BSE Sensex slipped 71 points at 57,625 levels while the Nifty50 was at 17,169, up 28 points. In the broader markets, the BSE MidCap index was up 0.15 percent and the BSE SmallCap index added 0.14 percent. Sectorally, realty and media stocks were the only gainers. On the flip side, auto, financials, and IT stock were in the red. The overall market breadth was in the favour of buyers with over 1,500 stocks advancing on the BSE. Meanwhile, around 990 stocks were in the red.

MARKET UPDATE:Sensex advanced 253 points at 58,714 levels while Nifty at 17,461, up 60 points

MARKET UPDATE:Sensex advanced 253 points at 58,714 levels while Nifty at 17,461, up 60 points

Friday, December 3, 2021

Indian equities extended their buying spree into the third straight session today(3rd December 2021) amid broad-based buying. The S&P BSE Sensex advanced 253 points, or 0.43 percent, at 58,714 levels in early deals. The NSE Nifty, meanwhile, was at 17,461, up 60 points. L&T, BPCL, Axis Bank, and Kotak Bank, were the top gainers on the 50-pack index while Nestle India, Hindalco, Tata Consumer Products, Bajaj Auto, and HUL were the top laggards. In the broader markets, the BSE MidCap and SmallCap index rose 0.34 percent and 0.5 percent, respectively.

MARKET UPDATE:Sensex started at 57,818 level, up 133 points while Nifty opened at 17,210, up 43 points

MARKET UPDATE:Sensex started at 57,818 level, up 133 points while Nifty opened at 17,210, up 43 points

Thursday, December 2, 2021

Indian equities started higher today(2nd December 2021) amid mixed global cues. The S&P BSE Sensex started today's session at 57,818 level, up 133 points or 0.2 percent. The Nifty50 opened at 17,210, up 43 points. M&M (up over 2 percent), HDFC, Power Grid, Titan, and Sun Pharma were leading the list of gainers on the Sensex index. On the flipside, L&T (down 0.8 percent), ICICI Bank, Nestle India, Axis Bank, and SBI were trading in the red. In the broader markets, the BSE MidCap and SmallCap indices added 0.29 percent and 0.22 percent, respectively. Among individual stocks, NDTV shares were locked at a 5 percent upper circuit after the company has signed an exclusive 10-year deal worth Rs 750 crore with Taboola – a global leader in powering content recommendations on the open web. Read more

Indian stocks unlikely to recoup recent losses: Poll

Indian stocks unlikely to recoup recent losses: Poll

Wednesday, December 1, 2021

According to a Reuters poll of strategists, Indian equities will not recoup recent losses until after mid-2022 on worries over Coronavirus (COVID-19) resurgence and global monetary policy tightening. The report also predicted a likely correction in the next six months. Buoyed by easy monetary policy, a gradual re-opening of the economy, and a rapid vaccination drive, the benchmark BSE Sensex Index has rallied nearly 20% year-to-date. But the BSE index has dropped around 8% from its all-time high of 62,245.43 sets on Oct. 19 as concerns mount over the Omicron coronavirus variant, dampening investor sentiment further. The Nov. 16-30 Reuters poll of 35 equity strategists forecast the benchmark Sensex index to touch 60,450 by mid-2022, a gain of around 5.6% from Monday's close of 57,260.58. If realised, the gain would not be enough to recoup recent losses. However, the index was expected to rise further to hit a high of 63,000 by end-2022. Read more

MARKET UPDATE: Sensex up 659 points at 57,724 levels while Nifty at 17,183, up 200 points

MARKET UPDATE: Sensex up 659 points at 57,724 levels while Nifty at 17,183, up 200 points

Wednesday, December 1, 2021

The Indian frontline indices started gap-up today (1st December 2021) on the back of strong GDP growth of over 8 percent in Q2. With this, India continues to remain the fastest-growing large economies in the world. That apart, firm Asian cues also supported the sentiment on the Street. The BSE Sensex was up 659 points, or 1.15 percent, at 57,724 levels. The Nifty50, on the other hand, was at 17,183, up 200 points. IndusInd Bank (up 3.7 percent) was the top Sensex gainer, followed by Tech M, HDFC, NTPC, Tata Steel, and UltraTech Cement. Power Grid was the only loser on the index, down 0.2 percent. In the broader markets, the BSE MidCap and SmallCap indices added 0.9 percent and 0.8 percent, respectively. Read more

Whether For FIIs India is becoming less and less attractive?

Whether For FIIs India is becoming less and less attractive?

Tuesday, November 30, 2021

After a world-beating rally, Indian markets are losing their allure to emerging market (EM) peers. The foreign portfolio investors have turned cautious on India. according to some experts, this year’s rally is primarily driven by domestic money and those flows could dry up. Covid-19 impacted the unorganised or the informal economy but the listed space has largely benefited. also in 2020-21, despite the economy shrinking 7.5 percent, the earnings growth for Nifty companies was probably the best in a decade. The recovery from lockdowns has been reasonably good without any big government stimulus. The domestic supplies of vaccines helped and the execution program was stellar. Read more

MARKET UPDATE:Sensex at 57,957 level, up 697 points while Nifty hovered above 17,250-mark, up 200 points

MARKET UPDATE:Sensex at 57,957 level, up 697 points while Nifty hovered above 17,250-mark, up 200 points

Tuesday, November 30, 2021

Indian benchmark indices today (30th Nov.2021) extended their gains and were trading near the day's high level, lifted by realty, IT, and PSU Bank stocks. The S&P BSE Sensex was at 57,957 level, up 697 points or over 1 percent. The Nifty50, on the other hand, hovered above the 17,250-mark, up 200 points. The Nifty Realty index is up 4 percent; IT index 2.2 percent; PSB Index 1.8 percent. Shares of Go Fashion clocked a solid listing on the bourses today, debuting at 91 percent premium on the BSE. The shares are listed at Rs 1,316 per share compared with the issue price of Rs 690. On the NSE, the shares debuted at Rs 1,310 apiece.

MARKET UPDATE:Frontline indices extended their losses;Sensex tumbled 439 points to 56,668 levels while Nifty at 16,863, down 163 points

MARKET UPDATE:Frontline indices extended their losses;Sensex tumbled 439 points to 56,668 levels while Nifty at 16,863, down 163 points

Monday, November 29, 2021

The Indian frontline indices extended their losses in today's(29th Nov.2021) deals amid weakness in Asian markets as investors continue to monitor developments surrounding the recently discovered omicron, Covid variant. The BSE Sensex tumbled 439 points, or 0.77 percent, to 56,668 levels and the Nifty50 slipped below 16900-mark at 16,863, down 163 points. In the broader markets, the BSE MidCap and SmallCap indices fell up to 3 percent.

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

5 bank stocks that may give up to 10% return in a month

5 bank stocks that may give up to 10% return in a month

Thursday, November 25, 2021

The current market sentiment is uncertain and may provide opportunities in major stocks. Here are five bank stocks that look good on the technical charts for a 10 percent upside in one month. 1. State Bank of India Likely target: Rs 530 Upside potential: 8% The shares of the banking major took support at its 50-day moving average (DMA), located at Rs 479 recently. As long as this support is defended, the positive bias may help resume an upward momentum towards Rs 530, its next major hurdle, according to the daily chart. The Moving Average Convergence Divergence (MACD) has reached near the zero line and if shows a similar reversal like stock price, the direction and leadership may show an aggressive bullish sentiment. Read more

Moody’s pegged GDP growth for India at 9.3% in FY22

Moody’s pegged GDP growth for India at 9.3% in FY22

Thursday, November 25, 2021

Moody’s Investors Service in its latest report has projected that the economic growth in India will rebound strongly. It has pegged GDP growth for the nation at 9.3% and 7.9% in FY22 and FY23, respectively. Steady progress in Covid vaccination will support a sustained recovery in India’s economic activity, Moody’s analyst Sweta Patodia said. “Consumer demand, spending, and manufacturing activity is recovering following the easing of pandemic restrictions. These trends, including high commodity prices, will propel significant growth in rated companies’ EBITDA over the next 12-18 months,” Patodia added. India recently hit record Covid-19 vaccination rates. Moody notes that the vaccination drive in India has gathered pace after the second wave. Around 30% of the population of India is now fully vaccinated with two doses while around 55% of the population has received at least one dose. Improved vaccination coverage has led to stabilisation in consumer confidence. Read more

MARKET UPDATE:Sensex, Nifty volatile;Sensex dipped 29.5 points to trade at 58,311 levels while Nifty little changed at 17,418

MARKET UPDATE:Sensex, Nifty volatile;Sensex dipped 29.5 points to trade at 58,311 levels while Nifty little changed at 17,418

Thursday, November 25, 2021

The benchmark indices slipped marginally in early deals today(25th Nov. 2021). The losses were, however, limited by gains in heavyweights like RIL, Bharti Airtel, and Maruti Suzuki. The BSE Sensex dipped 29.5 points, or 0.05 percent, to trade at 58,311 levels while the Nifty50 was little changed at 17,418. UPL (up 2 percent), Reliance Industries, Tech M, Infosys, and Sun Pharma were the top gainers on the 50-share index. The top laggards were ICICI Bank, Indian Oil Corporation, Shree Cement, NTPC, and HDFC. In the broader markets, the BSE MidCap and SmallCap indices gained 0.22 percent and 0.38 percent, respectively. Sectorally, the Nifty Bank and Private Bank indices slipped 0.5 percent each, followed by the Nifty Financial Services index (down 0.4 percent). On the upside, the Nifty Realty and IT indices added nearly 1 percent and 0.6 percent, respectively.

MARKET UPDATE:Sensex at 58,711, up 47 points while Nifty added 30 points to hold 17,550-mark

MARKET UPDATE:Sensex at 58,711, up 47 points while Nifty added 30 points to hold 17,550-mark

Wednesday, November 24, 2021

Indian equities started higher today(24 Nov.2021), supported by firm global cues and buying in heavyweights such as Bharti Airtel, SBI, Axis Bank, and TCS. The benchmark S&P BSE Sensex advanced 47 points, or 0.08 percent, to quote at 58,711 in opening deals. The NSE Nifty50, on the other hand, added 30 points to hold the 17,550-mark. Among key movers in early trades, Bharti Airtel's shares moved up by 0.5 percent after Moody's Investors Service revised the company's and its subsidiary Bharti Airtel Int'l (Netherlands) BV's rating outlook to positive from stable. In the broader markets, the BSE SmallCap index is outperforming both, large-cap and mid-cap, indices. The index is up over 1 percent. Sectorally, select IT and auto stocks, including Coforge, Infosys, Tech M, Maruti Suzuki, Hero MotoCorp, and M&M, are trading with a negative bias. Meanwhile, the volatility index, India VIX, eased about 5 percent.

India's GDP to grow 9.1% in 2022: Goldman Sachs

India's GDP to grow 9.1% in 2022: Goldman Sachs

Tuesday, November 23, 2021

Wall Street brokerage Goldman Sachs today (November 23) estimated India's GDP growth at 9.1% in 2022. After India's economy contracted by a sharp 7% in 2020, Goldman Sachs pegged the economy to grow at 8% in 2021 and 9.1% in 2022. It earlier estimated India's economic growth to 11.1% in the fiscal year to March 31, 2022. It expects consumption and investment to be the key drivers of growth in 2022. "We expect consumption to be an important contributor to growth in 2022, as the economy fully re-opens driven by a notable improvement in the virus situation and adequate progress on vaccination," Goldman Sachs said in a report. The brokerage also forecasts the headline CPI inflation to increase to 5.8% in 2022 from 5.2% in 2021, led by an increase in core inflation as manufacturers pass on input cost increases to consumers as demand recovers with full economic re-opening.

MARKET UPDATE:Sensex at 58,370, down just 95 points while Nifty reclaimed the 17,400-mark after the early morning debacle

MARKET UPDATE:Sensex at 58,370, down just 95 points while Nifty reclaimed the 17,400-mark after the early morning debacle

Tuesday, November 23, 2021

The benchmark indices staged a recovery after the early morning debacle as the bulls are trying to wrestle their way back on Dalal Street today (23rd Nov.2021). After the early morning debacle, where the BSE Sensex hit a low of 57,718, the 30-share index was at 58,370, down just 95 points on the BSE at 10:05 AM. The NSE Nifty, meanwhile, reclaimed the 17,400-mark, down only 6 points. All the sectoral indices recouped their losses and were trading higher on the NSE, barring the Nifty IT index (down 0.7 percent). The Nifty Metal pack was leading the recovery, up 2.5 percent, followed by the Nifty PSU Bank and Realty indices, up 1.7 percent each. Among individual stocks, Vedanta surged nearly 8 percent to a high of Rs 354 in early deals on the BSE on Tuesday after nearly 7 percent of the total equity of the metal company changed hands via multiple block deals. Read more

MARKET UPDATE:Sensex tumbled 495 points to hit a low of 59,125 while Nifty gave up 17,700-mark, down 87 points

MARKET UPDATE:Sensex tumbled 495 points to hit a low of 59,125 while Nifty gave up 17,700-mark, down 87 points

Monday, November 22, 2021

Indian equity markets started the week on a negative note amid an across-the-board selloff. The frontline S&P BSE Sensex fell 259 points, or 0.43 percent, to quote at 59,377 levels in opening deals. The index extended its decline further and tumbled 495 points to hit a low of 59,125. The Nifty50, on the other hand, gave up 17,700-mark, down 87 points. Shares of RIL dropped 4 percent after the company, late on Friday, called off the deal with the global oil giant Saudi Aramco for a 20 percent stake acquisition by the Saudi firm in the oil to chemicals (O2C) business of the former company. On the upside, Bharti Airtel shares advanced 5 percent after the telecom major revised tariff on prepaid talk-time plans earlier today by 20-25 percent and data top-up plans by 20-21 percent. Read more

MARKET UPDATE:Sensex added 76 points to quote at 60,084 levels while Nifty hovered around 17,900-mark

MARKET UPDATE:Sensex added 76 points to quote at 60,084 levels while Nifty hovered around 17,900-mark

Thursday, November 18, 2021

Indian benchmark indices started higher on Dalal Street today(18th Nov.2021) amid gains in PSU Bank, FMCG, and metal stocks. The S&P BSE Sensex added 76 points, or 0.13 percent, to quote at 60,084 levels in early deals while the Nifty50 hovered around 17,900-mark. In the broader markets, the BSE SmallCap index extended its outperformance into the third day, up 0.32 percent. Among individual stocks, ITC rose 1 percent and was the top performer on the Sensex index, followed by SBI, Asian Paints, Power Grid, and Titan Company. On the downside, M&M was the biggest laggard, down 1.2 percent. Shares of Vedanta, meanwhile, slipped around 2 per cent on the Nifty on profit booking after the company said it has appointed a committee of directors to evaluate and recommend a range of options and alternatives, including demergers, spin-offs, or strategic partnerships of its aluminium, iron & steel, and oil & gas businesses. Read more

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies

Government and regulatory authorities may consider a legislative and regulatory framework for cryptocurrencies

Wednesday, November 17, 2021

Finally, it looks like the government and regulatory authorities appear to be getting together with stakeholders to consider a legislative and regulatory framework for cryptocurrencies. These virtual assets have been around for over a decade — the pioneer bitcoin started trading in 2010. There are literally thousands of cryptos. Some have given truly extraordinary returns. Investors see these instruments as potential hedges against currency volatility and inflation. Traders who pay in rupees generate over Rs 50 crore in daily cryptocurrency volumes and Indians actually invest a great deal more in forex-denominated trades. There’s a substantial, active Indian crypto-investment community which multiple sources estimate holds over $15 billion worth of crypto assets. Moreover, the related non-fungible token, or NFT, market is booming and there’s been an advertising blitz tempting Indians to invest in cryptos. Read more

MARKET UPDATE:Sensex fell 210 points in early deals at 60,113 levels while Nifty at 17,939-mark

MARKET UPDATE:Sensex fell 210 points in early deals at 60,113 levels while Nifty at 17,939-mark

Wednesday, November 17, 2021

The downtrend in the domestic equities extended today(17TH Nov.2021) also as a global rating agency, Fitch rating's, negative outlook on India weighed on sentiment. Besides, Sebi's proposal to tweak rules governing initial public offerings (IPOs) to bring in more transparency and accountability kept investors on the edge. The BSE Sensex fell 210 points, or 0.35 percent, in early deals at 60,113 levels while the Nifty50 was at 17,939-mark. Trends in the broader markets were mixed with the Midcap index down 0.02 percent and SmallCap index up 0.25 percent. Axis Bank, RIL, Grasim Industries, UPL, HDFC twins, and Divis Labs were the top laggards on the Nifty while Asian Paints, SBI Life, Maruti Suzuki, and Eicher Motors helped limit downside. Read more

MARKET UPDATE:Sensex declined 134 points at 60,585 levels while Nifty dipped 32 points to quote at 18,077-mark

MARKET UPDATE:Sensex declined 134 points at 60,585 levels while Nifty dipped 32 points to quote at 18,077-mark

Tuesday, November 16, 2021

The Indian benchmark indices started in the negative territory today(16th Nov.2021) amid selling in metals and financial counters. The BSE Sensex index declined 134 points, or 0.22 percent, in early deals at 60,585 levels, dragged by Tata Steel, HDFC, Reliance Industries, Axis Bank, Kotak Bank, and Asian Paints. The NSE Nifty50, too, dipped 32 points to quote at 18,077-mark. Meanwhile, the broader MidCap and SmallCap indices on the BSE rose up to 0.2 percent. Among individual stocks, Escorts rose 0.23 percent after the company said its board is scheduled to meet on November 18, to consider and evaluate proposals for raising funds by way of issue of bonds/ debentures/ any other securities. Read more

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

MARKET UPDATE:Sensex quoted at 61,026 levels, up 339 points, while Nifty at 18,197 levels, up 94 points

MARKET UPDATE:Sensex quoted at 61,026 levels, up 339 points, while Nifty at 18,197 levels, up 94 points

Monday, November 15, 2021

The Indian benchmark indices started nearly 0.5 percent higher today (15th Nov.2021) supported by firm global cues and broad-based buying back home. In early deals, the BSE Sensex quoted at 61,026 levels, up 339 points, while the Nifty50 was at 18,197 levels, up 94 points. Hero MotoCorp was among the top gainers on the Nifty index, up 3 percent, on a healthy operational performance in Q2. The company reported standalone Ebitda of Rs 1,156 crore, up from Rs 515 crore YoY, and higher than Street estimates of Rs 904 crore. Margins, meanwhile, came in at 13.5 percent, up from 9.4 percent YoY and Bloomberg estimate of 11.2 percent. In the broader markets, the BSE MidCap and SmallCap indices added up to 0.4 percent. Read more

Air India will be transferred to Tata Group by the third week of January 2022

Air India will be transferred to Tata Group by the third week of January 2022

Friday, November 12, 2021

Air India will be transferred to Tata Group, the new owner, by the third week of January 2022, Union aviation minister Jyotiraditya M Scindia said at the Times Now Summit 2021 yesterday(11th Nov.2021). India will also see a startup, Akasa, take to the skies along with a reborn Jet Airways next year. January 23 is the 'long stop date' by which Tatas have to take over the airlines. Soaring aviation turbine fuel prices have led to a 400% increase in Indian airlines’ operating cost in recent months, Scindia said, adding that had the government not recently raised domestic fare bands by 12.5%, there “won’t have been any airline left for us to board”. “We are seeing a tremendous amount of green shoots. The last weekend saw a high of 3.8 lakh passengers daily, with the pre-Covid high being 4.2 lakh. So we are only 10% below the pre-Covid high. Almost 90% of (domestic) traffic has recovered. But it is important to be cautious,” he said.

Sensex up 362 points at 60,281.5 levels and Nifty at 17,973-mark, up 100 points

Sensex up 362 points at 60,281.5 levels and Nifty at 17,973-mark, up 100 points

Friday, November 12, 2021

Equity markets clocked a gap-up start on the bourses today(12th Nov.2021) amid across-the-board buying. Besides, firm Asian cues also supported the sentiment on the Street. The S&P BSE Sensex was up 362 points, or 0.6 percent, in early deals at 60,281.5 levels while the Nifty50 quoted at 17,973-mark, up 100 points. Among individual stocks, Tata Steel added around 2 percent after the Tata Group company reported an 8-fold jump in consolidated net profit at Rs 11,918 crore in the September quarter. Sun Pharma, Kotak Bank, Nestle India, Tech M, Infosys, and HDFC were the other top gainers on the Sensex. Meanwhile, in the broader market, the BSE MidCap and SmallCap indices added up to 0.65 percent. Read more

GDP to clip at 9.5% as growth impulses strong: RBI Governor

GDP to clip at 9.5% as growth impulses strong: RBI Governor

Thursday, November 11, 2021

Reserve Bank Governor Shaktikanta Das yesterday(10th Nov.2021) expressed confidence in the economy clipping at the projected 9.5 percent this fiscal as per the growth impulses and the strong fast-moving indicators. Giving all the credit for the faster-than-expected recovery of the economy to the government, Das said the central bank has only been supporting the government in reviving the economy ravaged by the pandemic. Citing a slew of measures the government has taken since the pandemic struck in March 2020, the governor specifically mentioned tax cuts on fuels, tax resolution for the telecom sector, annulling of the retro tax legislation, sale of Air India, plans to sell some of the public sector banks and PLI scheme as the major reforms and growth-drivers bearing fruits now. Read more

MARKET UPDATE: Sensex at 60,133 levels, down 220 points and Nifty down 75 points at 17,942 levels

MARKET UPDATE: Sensex at 60,133 levels, down 220 points and Nifty down 75 points at 17,942 levels

Thursday, November 11, 2021

Indian benchmark indices started lower for the third straight day today(11th Nov.2021) amid tepid global cues. The BSE Sensex was quoting at 60,133 levels, down 220 points or 0.36 percent, in early deals dragged by Tech M, HDFC, ICICI Bank, HCL Tech, M&M, and Axis Bank. On the upside, Titan Company, Maruti Suzuki, Tata Steel, L&T, and NTPC were lending some support. All these stocks were up in the range of 0.2 percent and 1.7 percent. Its NSE counterpart, Nifty50, was down 75 points at 17,942 levels. In the broader markets, the BSE MidCap and SmallCap indices gained 0.05 percent and 0.17 percent, respectively. Among individual stocks, shares of Zomato surged 5 percent in the intra-day trade on the BSE after the company said it will invest $50 million in e-commerce start-up Magicpin for a 16 percent stake as part of the total funding round size of $60 million. Read more

MARKET UPDATE:Sensex down 428 points at 60,005 and Nifty down 121 points at 17,923

MARKET UPDATE:Sensex down 428 points at 60,005 and Nifty down 121 points at 17,923

Wednesday, November 10, 2021

The BSE benchmark index, the Sensex, opened 138 points lower at 60,295, and soon extended losses in the opening trades on account of subdued global cues, a spike in crude oil prices, and persistent selling by foreign investors. At 09:20 AM, the BSE Sensex was down 428 points at 60,005. The NSE Nifty once again gave up the 18,000-mark and was down 121 points at 17,923. Index heavyweight, HDFC was down 1.5 percent at Rs 2,898. Kotak Bank, Axis Bank, ICICI Bank, SBI, and IndusInd Bank were the other prominent losers in the Sensex 30 stocks. On the other hand, Mahindra & Mahindra extended its upward move following the September quarter results. The stock was up 1.5 percent at Rs 807. The broader indices were slightly better-off, with the BSE Midcap index down 0.3 percent, and the Smallcap index almost unchanged.

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

MARKET UPDATE: Sensex down 92 points at 59,975 levelsand Nifty at 17,878 levels, down 38 points

MARKET UPDATE: Sensex down 92 points at 59,975 levelsand Nifty at 17,878 levels, down 38 points

Monday, November 8, 2021

Equity markets were volatile on the first trading day of Samvat 2078(8th November 2021). After hitting an opening high of 60,434, the BSE Sensex gave up gains and was down 92 points at 59,975 levels in early deals. Its NSE counterpart Nifty50, on the other hand, was at 17,878 levels, down 38 points. IndusInd Bank was the biggest loser, down 10 percent, amid reports of lapses in governance and accounting norms related to allegedly 'evergreen' loans running into thousands of crores since the outbreak of Covid-19. On its part, IndusInd Bank on Saturday admitted that its micro-finance arm gave nearly 84,000 loans "without customer consent" due to a "technical glitch" on May 21, but denied whistleblowers' allegations of "evergreening". Sun Pharma, Asian Paints, Tata Steel, M&M, HCL Tech, and HDFC Bank were some of the other tops drags on the 30-pack index. On the upside, L&T, Kotak Bank, Maruti Suzuki, and Airtel were trading with up to 1 percent gains. Read more

Paytm, 2 other public issues to open next week

Paytm, 2 other public issues to open next week

Friday, November 5, 2021

With three firms- One97 Communications, owner of Paytm; Sapphire Foods India, which operates KFC and Pizza Hut outlets; and Latent View Analytics set to launch their initial share-sales to collectively mop up about Rs 21,000 crore, the hectic fundraising through IPOs will continue next week. This comes after five companies successfully concluded their public offerings (IPOs) this week. The three-day IPOs of Paytm, Sapphire Foods India, and Latent View Analytics are scheduled to open on November 8, November 9, and November 10, respectively. So far in 2021, as many as 46 companies have floated their IPOs to raise Rs 80,102 crore and market experts believe that the year should close with the Rs 1-lakh crore primary market fundraising. Read more

Muhurat Trading session to be held today (6:15 pm to 7:15 pm)

Muhurat Trading session to be held today (6:15 pm to 7:15 pm)

Thursday, November 4, 2021

The Muhurat Trading session to be held on Thursday(4th Nov.2021) evening is considered one of the auspicious occasions to invest in the stock market. This year, the Muhurat trading session will begin at 6:15 pm and end at 7:15 pm. The session will mark the end of the previous Samvat 2077 and the beginning of a new year for the financial community. Sentiment heading into the session has been muted given the correction seen in the market over the past two weeks. Hence the correction has provided buying opportunities in certain large-cap stocks. Indian Energy Exchange, Container Corporation of India, Honeywell Automation, Whirlpool of India, Clean Science Tech, and KPR Mill are some such stocks as suggested by some analysts. Read more

MARKET UPDATE: Sensex up 311 points at 60,340, and Nifty gained 92 points at 17,981

MARKET UPDATE: Sensex up 311 points at 60,340, and Nifty gained 92 points at 17,981

Wednesday, November 3, 2021

The key benchmark indices managed to hover near the highs of the day(3rd Nov.2021) due to buying support in select index heavyweights like - HDFC, Larsen & Toubro, and Infosys. The BSE Sensex was up 311 points at 60,340, and the NSE Nifty had gained 92 points at 17,981. The broader markets were also seen holding gains towards the end of the first hour of trades. The BSE Midcap and Smallcap indices were up 0.5 percent and 0.4 percent, respectively. The breadth too was fairly positive early on, with two advancing shares for every single declining stock on the BSE. Larsen & Toubro was up 3.3 percent at Rs 1,876 and was the top gainer among the Sensex 30 stocks. Tech Mahindra, UltraTech Cement, and Kotak Bank were the other prominent gainers. On the other hand, Sun Pharma has slipped 1.5 percent. Read more

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points

MARKET UPDATE: Sensex at 60,118 levels, down 21 points,while at 17,923, down 6 points

Tuesday, November 2, 2021

Profit-booking in metals, pharma, and select market heavyweights like Reliance Industries, HDFC, ITC, SBI, and Tech M has brought the benchmark indices off highs today(2nd Nov.2021) At 10:10 AM, the Sensex index was at 60,118 levels, down 21 points, while the Nifty50 was at 17,923, down 6 points. In the broader market, however, the BSE MidCap index was up 0.4 percent and the BSE SmallCap index was up 0.8 percent. Sectorally, shares of the companies engaged in the Shipping business were rallying on the bourses after data showed exports in the month of October surged over 40 percent. Shreyas Shipping rallied over 13 percent in the intra-day trade, followed by GE Shipping Corp (4 percent), and SCI (3 percent). The Nifty Healthcare index was down 1 percent with Sun Pharma falling over 3 percent, Dr. Reddy's Labs (1.5 percent), and Dr. LalPath Labs (1 percent). In the currency markets, the rupee opened at 74.85 per US dollar compared with Monday's close of 74.87/$.

Closing Bell: Sensex settled with a gain of 831 points at 60,138 and Nifty ended 258 points higher at 17,930

Closing Bell: Sensex settled with a gain of 831 points at 60,138 and Nifty ended 258 points higher at 17,930

Monday, November 1, 2021

The markets reversed its 3-day losing streak led by renewed buying interest in IT and select financial shares. The BSE Sensex reclaimed the 60,000-mark, and surged to a high of 60,220, before settling with a gain of 831 points at 60,138. The NSE Nifty touched a high of 17,954 and ended 258 points higher at 17,930. India VIX was down 1.4 percent at 17.18. The broader markets also logged strong gains. The BSE Midcap index surged 1.8 percent, while the Smallcap index moved up 1.1 percent. Among sectors, the BSE Realty index soared 3.7 percent, while the Telecom and Metal indices surged around 3.5 percent each. The IT index was up 2.3 percent, and the Bankex jumped 1.8 percent. The overall market breadth was also fairly positive, with 2,171 advancing shares versus 1,137 declining stocks on the BSE. Read more

MARKET UPDATE: Sensex was at 59,821 levels, up 514 points while Nifty at 17,815 levels, up 144 points

MARKET UPDATE: Sensex was at 59,821 levels, up 514 points while Nifty at 17,815 levels, up 144 points

Monday, November 1, 2021

Dalal street started the day (1st Nov.2021) with a positive note driven by Supportive global cues, marginal ease in crude oil prices, and the ongoing earnings season. Besides, low-level buying after last week's profit-booking resulted in a bounce-back rally. In early deals, the BSE Sensex was at 59,821 levels, up 514 points or 0.87 percent, led by Bharti Airtel (up 3 percent), Axis Bank, Titan, Tech M, and Tata Steel. The Nifty50, on the other hand, was at 17,815 levels, up 144 points. In the broader markets, meanwhile, the BSE MidCap and SmallCap indices were up 0.89 percent and 0.92 percent, respectively. Sectorally, the Nifty Realty index was up 3 percent, followed by the Nifty Metal index (up 1.4 percent). On the downside, the Nifty Auto index was down 0.5 percent. Read more

MARKET UPDATE: Sensex down 743 points at 59,241 levels while Nifty at 17,676-mark, down 180 points

MARKET UPDATE: Sensex down 743 points at 59,241 levels while Nifty at 17,676-mark, down 180 points

Friday, October 29, 2021

The Indian benchmark indices extended yesterday's decline today(29th Oct.2021) as well with the frontline S&P BSE Sensex sliding 743 points at 59,241 levels, while the Nifty50 at 17,676-mark, down 180 points. Only 2 constituents, Tata Steel and Asian Paints were trading in the green on the Sensex, while Bajaj Finserv, NTPC, IndusInd Bank, and L&T fewere leading the list of losers. In the broader markets, the BSE MidCap and SmallCap declined 1.5 percent and 1.8 percent, respectively. Dalal Street is witnessing an across-the-board sell-off with banks being the worst lot. The Nifty PSU Bank index is down 2.6 percent while the Nifty Bank index is trading over 2 percent lower. All other key sectoral indices were down up to 1 percent. Read more

Closing Bell: Sensex closed 1,158 points lower at 59,985 and Nifty lost 354 points to end the day at 17,857 levels

Closing Bell: Sensex closed 1,158 points lower at 59,985 and Nifty lost 354 points to end the day at 17,857 levels

Thursday, October 28, 2021

The key benchmark indices broke respective psychological levels in trade today(28th Oct.2021) amid heavy broad-based sell-off. While the Sensex closed 1,158 points lower at 59,985, the Nifty lost 354 points to end the day at 17,857 levels. At the end of the day, the Nifty has slipped below its 20-DMA, which has opened the door for further downside, technical analysts said. "Relentless selling by FIIs is a key reason for this correction in the market. The next support level for the Nifty is around 17,650 level. Below this, 17,450-17,250 will be the next support zone. On the upside, 18,150-18,300 has become an immediate supply zone," said Santosh Meena, head of research at Swastika Investment. Read more

MARKET UPDATE: Sensex at 60,962 levels, down 181 points while Nifty at 18,139 levels, down 72 points

MARKET UPDATE: Sensex at 60,962 levels, down 181 points while Nifty at 18,139 levels, down 72 points

Thursday, October 28, 2021

Indian benchmark indices started in the negative territory today(28th Oct.2021), ahead of the monthly F&O expiry later today. In early deals, the BSE Sensex was at 60,962 levels, down 181 points or 0.3 percent led dragged by Titan, ICICI Bank, and ITC. Its NSE counterpart Nifty50 was at 18,139 levels, down 72 points or 0.4 percent. In the broader markets, the BSE MidCap and SmallCap indices slipped up to 0.34 percent. Among individual stocks, shares of ITC dipped 2 percent after the cigarette-to-hotels major reported a 10.09 percent YoY increase in consolidated profit at Rs 3,763.73 crore in the September quarter of FY22, led by a recovery across segments. Meanwhile, Titan shed 4 percent after the jewelry firm's net profit jumped 270.5 percent to Rs 641 crore in Q2FY22 when compared to Rs 173 crore during the same period last year at a consolidated level, riding on recovery in demand across its consumer businesses. Read more

MARKET UPDATE: Sensex up 37 points at 61,387 levels and Nifty at 18,284 levels, up 16 points

MARKET UPDATE: Sensex up 37 points at 61,387 levels and Nifty at 18,284 levels, up 16 points

Wednesday, October 27, 2021

Healthy corporate earnings and tepid trading among Asian markets, led to a volatile start for benchmarks in Indian markets today(26th Oct.2021). In early deals, the frontline BSE Sensex was trading at 61,387 levels, up 37 points, supported by Asian Paints, Dr. Reddy's Labs, and ITC. The Nifty50, on the other hand, was at 18,284 levels, up 16 points. Among individual stocks, Axis Bank slipped nearly 4 percent amid profit booking after the private lender posted its highest-ever quarterly profit of Rs 3,133 crore, backed by robust growth in fee income and a sharp fall in provisions. Bajaj Finance was also down 3 percent on profit booking after Q2 consolidated net jumped 53 percent to Rs 1,481 crore for the quarter ended September on healthy interest income. Total income rose 19 percent YoY to Rs 7,732 crore. Read more

MARKET UPDATE:Sensex at 61,231 levels, up 263 points while Nifty testing 18,200 levels

MARKET UPDATE:Sensex at 61,231 levels, up 263 points while Nifty testing 18,200 levels

Tuesday, October 26, 2021

In Indian markets, the frontline indices extended their winning ways into the second day, on the back of across-the-board buying. Positive global cues also lent support to the markets in early trade, the headline S&P BSE Sensex was at 61,231 levels, up 263 points or 0.43 percent while the Nifty50 index was testing 18,200 levels. In the broader markets, the BSE MidCap and SmallCap indices added 0.4 percent and 0.6 percent, respectively. Among individual stocks, Tech M shares surged over 5 percent in early trade after the company's Q2FY22 net rose 25.8 percent YoY to Rs 1,339 crore, while revenue grew 16.1 percent YoY to Rs 10,881 crore. However, CEAT shares declined over 6 percent after Q2FY22 net plunged 76.9 percent to Rs 42 crore as against Rs 181.9 crore in Q2FY21. Revenue, however, was up 23.9 percent at Rs 2,451.8 crore from Rs 1,978.5 crore in the same period. Read more

Big Indian companies are steping up investments following the post pandemic

Big Indian companies are steping up investments following the post pandemic

Friday, October 22, 2021

With healthy cash reserves and aided by stronger balance sheets post-Covid, Indian companies are looking to step up their capital expenditure and investment plans. Industry captains and analysts say a mix of factors such as accommodative monetary policy and lower interest rates, reduced corporate tax rates and government incentives such as Production-Linked Incentive (PLI) scheme, global liquidity, and upward commodities cycle are fueling optimism among companies. "Corporates are sitting on cash as profitability has picked up in the post-pandemic period. They are looking to invest in order to capture available opportunities of increased government spending, divestment, consumer demand revival, and export market. PLI scheme and revival of real estate and housing will make a positive impact on the investment cycle. We believe sectors like IT pharma steel, sugar, cement, real estate, and infrastructure will take lead on investment" says an economic expert. Read more

The Indian economy is picking up leaving behind the shadow of the pandemic: RBI report

The Indian economy is picking up leaving behind the shadow of the pandemic: RBI report

Tuesday, October 19, 2021

The Indian economy is picking up leaving behind the shadow of the pandemic as consumer demand improves and supply constraints ease due to strong Kharif agricultural production and revival in manufacturing and services. Also, softer food prices are aligning headline inflation closer to the target of 5.3 percent for FY'22. "The green shoots of revival have spilled out of the high-frequency indicators and on to the headline metrics in a recovery that is progressively solidifying," the report said. RBI's Economic Activity Index (EIA) indicates that real GDP grew by 9.6 percent in July-September 2021

MARKET UPDATE:Sensex up 394 points at 62,159 and the NSE Nifty up 112 points at 18,589

MARKET UPDATE:Sensex up 394 points at 62,159 and the NSE Nifty up 112 points at 18,589

Tuesday, October 19, 2021

The Indian markets were trading on a firm note in morning trade today(19th Oct.2021), with the BSE Sensex up 394 points at 62,159, and the NSE Nifty up 112 points at 18,589. The broader market was also trading on a firm note, with both the BSE Midcap and Smallcap indices up around 0.8 percent each. The overall market breadth was also largely positive, with nearly 1,700 advancing shares versus 1,100 declining stocks on the BSE. IRCTC joined the elite club of companies commanding Rs 1-trillion market capitalization (m-cap) on the BSE after its share price hit a new high of Rs 6,332.25 in the intra-day trade today. The shares rallied nearly 8 percent today and have zoomed 33 percent in the past five trading days and a whopping 293 percent in the last six months. L&T Infotech surged 10 percent to a high of Rs 6,496 on the NSE on the back of 21 percent YoY growth in Q2FY22 net at Rs 552 crore. Revenue was up 25.6 percent at Rs 3,767 crore in the same period.

MARKET UPDATE:Sensex registered a new high at 61,159 while Nifty touched a new summit at 18,295

MARKET UPDATE:Sensex registered a new high at 61,159 while Nifty touched a new summit at 18,295

Thursday, October 14, 2021

The Indian markets continue to trade on a firm note well supported by IT stocks following a good Q2 show today(14th Oct.2021). The BSE Sensex so far has registered a new high at 61,159 and was up 352 points at 61,089. The NSE Nifty touched a new summit at 18,295 and was up 111 points at 18,273. The BSE IT index has pared considerable gains but is still up 1.2 percent at 35,217. The index had touched a high of 35,794. The BSE Realty, Metal, and Capital Goods indices are the other major gainers, up 1.3-2.7 percent, each. Infosys which touched a high of Rs 1,784, was up 1.4 percent at Rs 1,733. Wipro touched a new high at Rs 723.65 on the BSE and continues to trade firm, at Rs 705, up 4.8 percent. Tech Mahindra has gained 1.4 percent, while HCL Technologies has slipped into the red, down 0.8 percent at Rs 1,255 ahead of its results. Read more

Sensex opened with a positive gap of 336 points at 60,620 and was quoted at 60,505 while Nifty up 83 points at 18,075

Sensex opened with a positive gap of 336 points at 60,620 and was quoted at 60,505 while Nifty up 83 points at 18,075

Wednesday, October 13, 2021

The Indian markets opened on a positive note today (13th Oct.2021), with benchmark indices scaling new peaks in opening trades, on the back of better-than-expected CPI September Inflation and August Industrial Output data. The headline inflation dropped to a 8-month low at 4.35 per cent, while the IIP grew at 11.9 per cent. The BSE Sensex opened with a positive gap of 336 points at 60,620, and was quoted at 60,505 at 09:17 AM. The NSE Nifty touched a high of 18,099 in opening deals, and was up 83 points at 18,075. Tata Motors zoomed 15 per cent to Rs 483.90 on the BSE after the company secured funding up to Rs 7,500 crore from TPG for its electric vehicle arm. This is the first major fundraising by an Indian carmaker to push mobility. Read more

MARKET UPDATE:Sensex down 83 points at 60,052 levels while Nifty down 10 points at 17,936

MARKET UPDATE:Sensex down 83 points at 60,052 levels while Nifty down 10 points at 17,936

Tuesday, October 12, 2021

The markets were exhibiting volatility in early morning trade today (12th Oct.2021), amid negative gloabl cues and stock specific trading action. The BSE Sensex touched a low of 59,992 in the opening deals, but soon recovered losses and jumped to a high of 60,264. The Sensex, however, could not hold gains for long, and slipped back into the negative zone, down 83 points at 60,052.The NSE Nifty 50 index was down 10 points at 17,936. The broader markets, however, were holding some gains. The BSE Midcap was up 0.1 per cent at 26,000, and the Smallcap index was up 0.2 per cent at 29,555. IT stocks continued to reel under selling pressure for the second straight day. The BSE IT index was down 0.4 per cent at 34,600. The BSE Realty index is the other major loser, down 0.8 per cent at 4,177. Read more

Domestic benchmark indices regained their charm after initial weakness

Domestic benchmark indices regained their charm after initial weakness

Monday, October 11, 2021

Indian benchmark indices regained their charm after initial weakness today(11th Oct.2021) even as weak global cues weighed on investor morale. Expectation of a better September quarter earnings kept buying intact in most counters.IT stocks were the biggest drags on indices as the underwhelming earnings report by TCS disappointed investors. Rest of the sectors saw heavy buying. After opening in the red, benchmark indices climbed higher. At 10.55 am, BSE flagship Sensex was up 247 points or 0.41 per cent to 60,306. NSE benchmark Nifty advanced 95 points or 0.53 per cent to 17,990. The index hit 18,000 mark during the day. “On the technical front, markets are in a structurally positive trend. Strong support can be seen at 17,700 level and 18,100 level may act as a near-term resistance in Nifty50,” said an expert. Read more

MARKET UPDATE:Sensex drops 100 points, Nifty at 17,875

MARKET UPDATE:Sensex drops 100 points, Nifty at 17,875

Monday, October 11, 2021

The renewed strength in the equity market, which got a boost from the Reserve Bank of India (RBI) persisting with its accommodative monetary policy on Friday,8th October, could push the Nifty past the 18,000-mark in the days ahead. While investors will shift focus to September quarter earnings season starting this week, analysts warn that disappointments could take the wind out of their sails as stronger profits are seen as imperative to justify elevated share valuations. On 8th October (Friday), the Sensex reclaimed the 60,000 and the Nifty ended 0.6% shy of 18,000,though the market gave up a portion of early gains sparked by the Indian central bank's continued monetary support. Both indices had gained 2% last week, shrugging off global concerns over the likelihood of persistent high inflation, which is putting upward pressure on US bond yields.

MARKET UPDATE:Sensex up 432 points to 60,110 while Nifty advanced 126 points to 17,917

MARKET UPDATE:Sensex up 432 points to 60,110 while Nifty advanced 126 points to 17,917

Friday, October 8, 2021

Indian domestic benchmark equity indices extended their gains today(8th Oct.2021), led by strong global cues and RBI's decision to maintain status quo. Auto and metal stocks saw buying while realty names were under pressure. “The market looks very volatile at the current position. We advise investors to book partial profits and keep a bit of cash balance in hand," said a expert. After opening in the green, benchmark indices maintained the lead. At 10.45 am, BSE flagship Sensex was up 432 points or 0.72 per cent to 60,110. NSE benchmark Nifty advanced 126 points or 0.71 per cent to 17,917. Read more

Sensex soared 576 points at 59,766 levels while Nifty aadvanced 168 points to quote at 17,814

Sensex soared 576 points at 59,766 levels while Nifty aadvanced 168 points to quote at 17,814

Thursday, October 7, 2021

Indian benchmark indices mirrored trends in Asian markets and posted solid gains today. The frontline S&P BSE Sensex soared 576 points, or 0.97 percent, at 59,766 levels in early deals today led by Titan Company (up 9 percent), IndusInd Bank, Asian Paints, M&M, SBI, Reliance Industries, and ICICI Bank.Nifty50, meanwhile, advanced 168 points to quote at 17,814. In the broader markets, the BSE MidCap and SmallCap indices rallied 1 percent and 1.3 percent, respectively. The broader markets have also started the day on a firm note, with the BSE Midcap and Smallcap indices up over a percent each. Here's a detailed view of the broader indices on the BSE. Read more

MARKET UPDATE:Sensex rose over 120 points to trade at 59,872 levels while Nifty above 17,850

MARKET UPDATE:Sensex rose over 120 points to trade at 59,872 levels while Nifty above 17,850

Wednesday, October 6, 2021

The Indian benchmark indices opened in the positive territory today(6th October 2021) with Nifty above 17,850. The BSE Sensex rose over 120 points to trade at 59,872 levels. The 50-pack index, meanwhile, gained nearly 50 points at 17,870. ONGC, IOC, and Coal India were the top gainers on the benchmark index. Top laggards were Titan, Divi's Lab, SBI Life, and IndusInd Bank. Sectorally, barring Nifty IT and Pharma, all indices were in the green. The broader indices, too, opened higher. The Nifty Midcap 100 rose 0.4 percent and the Smallcap 100 was higher by 0.7 percent. In pre-open itself, the Midcap index had hit new record high levels. Read more

MARKET UPDATE:Sensex down 100 points at 59,199 while Nifty fell 23 points to 17,667

MARKET UPDATE:Sensex down 100 points at 59,199 while Nifty fell 23 points to 17,667

Tuesday, October 5, 2021

The Indian domestic benchmark indices opened lower today(5th October 2021) amid weak global cues. The Sensex was down 100 points or 0.12% at 59,199. The Nifty, meanwhile, fell 23 points to 17,667. Top gainers in the 50-pack index were ONGC, IOC, UPL, and Maruti Suzuki. Top losers included Cipla, Bajaj Finserv, and Sun Pharma. On the sectoral front, barring Nifty Media, FMCG, and auto, all indices were trading in the red. However, broader markets were in the green, with the Nifty Midcap 100 rising 0.06 percent and the Smallcap 100 up by 0.39 percent.

MARKET UPDATE:Sensex up 350 points at 59,123 and Nifty up 100 points at 17,634

MARKET UPDATE:Sensex up 350 points at 59,123 and Nifty up 100 points at 17,634

Monday, October 4, 2021

The Indian benchmark indices kicked off the week on an upbeat note amid mixed cues from global markets. The Sensex was up 350 points at 59,123. The Nifty, meanwhile, was up 100 points at 17,634. Top gainers on the 50-pack index include Divi's Lab, Tata Motors, M&M, and NTPC. Grasin, JSW Steel, Eicher Motors, and Nestle India remain top laggards. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.7 percent and the Smallcap 100 0.09 percent. The volatility indicator-India VIX-rose by 1.6 percent at 17.48 level.

Amit Shah-led AISAM to soon approve Air India sale

Amit Shah-led AISAM to soon approve Air India sale

Friday, October 1, 2021

Amid the buzz of the Centre approving Air India's sale to Tata Sons, government officials said that the highest decision-making body constituted for the national carrier's divestment is yet to meet to grant its nod for the transaction. The Air India Specific Alternative Mechanism (AISAM) headed by Home Minister Amit Shah is yet to meet to approve the sale of Air India, an official said. The panel is expected to meet soon to grant a final nod to the sale of the national carrier. The panel has Finance Minister Nirmala Sitharaman, Commerce Minister Piyush Goyal, and Aviation Minister Jyotiraditya Scindia as members. The government expects the final bid to at least match the reserve price. But, it may still go ahead with the disinvestment process even if the bid quoted is lower than the reserve price. The government is looking to complete the sale of Air India as early as this month.

MARKET UPDATE:Sensex down 394 points at 58,732 and Nifty down 110 points at 17,508

MARKET UPDATE:Sensex down 394 points at 58,732 and Nifty down 110 points at 17,508

Friday, October 1, 2021

The Indian benchmark indices opened lower today(1st October 2021) tracking weak global cues. The Sensex was down 394 points at 58,732. The Nifty, meanwhile, was down 110 points at 17,508. The broader indices were trading mixed with the Nifty Midcap 50 falling 0.3 percent, and the Nifty Smallcap 100 up 0.1 percent. The risk-off in equity markets has gathered momentum with sharp cuts in the US market. The Dow and S&P500 are now more than 5% off from their record highs. Markets, globally, have turned weak. In India too there are indications of a correction. The leader of this rally, IT, is showing signs of exhaustion. Read more

MARKET UPDATE:Sensex sheds around 100 pts, Nifty tests 17,700

MARKET UPDATE:Sensex sheds around 100 pts, Nifty tests 17,700

Thursday, September 30, 2021

The Indian benchmark indices looked set to extend their fall to the third day in a row amid a host of weak macro cues. Also, volatility could remain high on account of monthly F&O expiry. At 8.15 am, SGX Nifty was trading 50 points down at 17,655. The US markets traded with caution on Wednesday amid crude oil disruptions, inflation, and ongoing debt ceiling debate. Overnight, the Dow Jones and S&P 500 index bounced back a wee bit in green, but Nasdaq however, ended 0.3 percent lower. This morning, the Asian markets are trading on a mixed note. Shanghai and Straits Times are up, while Nikkei and Hang Seng are down.

MARKET UPDATE:Sensex touched a low of 59,149, was down around 290 points while Nifty recovered from a low of 17,608 and down 76-odd points at 17,673

MARKET UPDATE:Sensex touched a low of 59,149, was down around 290 points while Nifty recovered from a low of 17,608 and down 76-odd points at 17,673

Wednesday, September 29, 2021

The Indian benchmark indices have recovered partially from the early morning lows on the back of selective buying interest in pharma, realty, and energy shares. The Sensex, which, touched a low of 59,149, was down around 290 points at 59,376 in mid-morning deals today(29th Sept.2021). The NSE Nifty recovered from a low of 17,608 and was down 76-odd points at 17,673. Lupin and Dr.Reddy's are the major gainers up 3.1 percent and 2.5 percent respectively. Sun Pharma, Torrent Pharma, and Biocon are the other prominent gainers on the NSE. The Power index has logged smart gains for the second straight day on the back of follow-up buying in power majors - NTPC and PowerGrid Corporation. Tata Power, CESC, and Adani Power too have logged strong gains.

MARKET UPDATE:Sensex dropped over 100 points to trade below the 60,000 while Nifty trading near the 17,800-mark at 17,921

MARKET UPDATE:Sensex dropped over 100 points to trade below the 60,000 while Nifty trading near the 17,800-mark at 17,921

Tuesday, September 28, 2021

The Indian benchmark indices opened in the negative territory today(28th Sept.2021) amid tepid Asian cues. The BSE Sensex dropped over 100 points to trade below the 60,000-mark at 59,943. The Nifty50, meanwhile, was trading near the 17,800-mark at 17,921. Coal India, NTPC, UltraTech Cement, ONGC were among the top gainers in the 50-pack index. The top laggards were in the IT sector, namely HCL Tech, Infosys, Tech Mahindra, and Wipro. On the sectoral front, most indices were in the red with Nifty Realty falling 2 percent. Other losers were Nifty IT, Media, and Pharma. the only gainers were PSU Bank up 1 percent, Nifty Metal, and FMCG.

India and Taiwan Talks on $7.5-billion chip plant, trade deal on a fast track

India and Taiwan Talks on $7.5-billion chip plant, trade deal on a fast track

Monday, September 27, 2021

India and Taiwan are in talks on an agreement that could bring chip manufacturing to South Asia along with tariff reductions on components for producing semiconductors by the end of the year. Officials in New Delhi and Taipei have met in recent weeks to discuss a deal that would bring a chip plant worth an estimated $7.5 billion to India to supply everything from 5G devices to electric cars, the people said. India is currently studying possible locations with adequate land, water, and manpower while saying it would provide financial support of 50% of capital expenditure from 2023 as well as tax breaks and other incentives, the people said. Officials in Taipei wanted quick progress on a bilateral investment agreement that would include tariff reductions on dozens of products used to make semiconductors - a precursor to a broader trade deal also under consideration, according to the sources.

MARKET UPDATE:Sensex trading 240 points up at 60,280 level while Nifty held above the 17,900 level at 17,925

MARKET UPDATE:Sensex trading 240 points up at 60,280 level while Nifty held above the 17,900 level at 17,925

Monday, September 27, 2021

The benchmark indices in India today (27th Sept.2021) kicked off the week on an upbeat note, tracking positive global cues. The BSE Sensex was trading 240 points up at 60,280 levels. The Nifty50, meanwhile, held above the 17,900 level at 17,925. ONGC, Tata Motors, M&M, Maruti Suzuki, and Eicher Motors were among the top gainers in the 50-pack index while the top laggards were Divi's Lab, Wipro, HCL Tech, and Cipla. Nifty Bank led the gainers in the sectoral space after it hit a fresh record high of 38,177. The index was trading nearly 1 percent higher. Other sectors that were gaining included Nifty Realty, Auto, PSU Bank, and Media. Some selling was seen in IT, FMCG, and pharma stocks. The broader indices, too, opened in the positive territory with the Nifty Midcap 100 up 0.1 percent and the Smallcap 100 higher by 0.3 percent. The volatility indicator--India VIX--rose by 3.3 percent at 17.47 level.

MARKET UPDATE:Sensex surged past the 60,000 mark for the first time while Nifty 105 points higher at 17,927

MARKET UPDATE:Sensex surged past the 60,000 mark for the first time while Nifty 105 points higher at 17,927

Friday, September 24, 2021

The Indian markets made history as Sensex surged past the 60,000 marks for the first time, achieving another feat since the bull run started last year. Led by strong gains in IT and banking counters, the BSE Sensex was trading 400 points up at 60,286 and the Nifty was 105 points higher at 17,927. The top gainers in the 50-pack index included Infosys, Wipro, and HCL Tech, while the top losers were Hindalco, JSW Steel, and Tata Consumer Products. The broader indices, too, opened firm, with the Nifty Midcap 100 up 0.5 percent and the Smallcap 100 higher by 0.74 percent. The volatility indicator--India VIX--rose by 1.14 percent at 16.79 level. Further, sectorally, the top gainer remained to be the Nifty IT pack, which rose over 2 percent. The only sectoral laggards in opening trade were Nifty Media (down 0.93 percent), Nifty Metal (0.84 percent), Nifty FMCG (down 0.14 percent), and Nifty PSU Bank (down 0.02 percent).

India may seek a ratings upgrade from Moody’s

India may seek a ratings upgrade from Moody’s

Thursday, September 23, 2021

Indian finance ministry officials plan to pitch for a sovereign rating upgrade from Moody’s Investors Service in the meeting with Moody's scheduled for Sept. 28, according sources. Finance officials plan to provide details on how India will meet its budget targets for the current fiscal year, which runs through March. Moody’s cut India’s sovereign rating to Baa3 in June 2020, the lowest investment grade, citing policy challenges in addressing a prolonged economic slowdown and its deteriorating fiscal position Neither the finance ministry nor Moody’s responded to requests for comment S&P Global Ratings in May said it sees no change in India’s sovereign rating for the next two years. Read more

MARKET UPDATE:BSE up 351.37 points at 59,278.70 while Nifty 115.10 points higher at 17,661.80

MARKET UPDATE:BSE up 351.37 points at 59,278.70 while Nifty 115.10 points higher at 17,661.80

Thursday, September 23, 2021

The Indian benchmark indices opened on a strong footing today (23rd Sept.2021) after the US Fed signaled that tapering could begin earlier than what market participants expect, but the committee remained equally split on interest rate lift-off. The Sensex was up 351.37 points at 59,278.70, and the Nifty was 115.10 points higher at 17,661.80. The top gainers on the 50-pack index included Coal India, Tata Motors, Axis Bank, and Tata Steel, while the only laggards were Tech Mahindra, Titan, and TCS. The broader indices, too, opened firm, rising around 1 percent each. Sectorally, all indices were trading positively, led by the Nifty Realty (up over 4 percent). Besides, the Nifty Bank, Media, and Metal indices also gained by 1 percent each.

Markets have given a thumbs up to the Zee Sony merger news;stock may get re-rated

Markets have given a thumbs up to the Zee Sony merger news;stock may get re-rated

Wednesday, September 22, 2021

The news of Zee Entertainment - Sony Pictures India merger news has resulted in the stock of the Punit Goenka controlled firm hitting the upper circuit of 20 percent at Rs 306.75 on the BSE. This is also the 52-week high level for the counter. According to the analysts, the deal should put to rest investor's concerns regarding corporate governance issues and can result in significant re-rating for the stock going ahead. It currently trades at around 16/14x FY23/24 earnings. Among the other Essel Group stocks, Dish TV India surged 10 percent to Rs 21.54 on the BSE. Zee Media Corporation hit the upper circuit of 5 percent at Rs 12.36, while Zee Learn was up 20 percent to Rs 16.64 on the BSE in intraday trades. In comparison, the S&P BSE Sensex gained 0.27 percent at 59,162 points. Read more

MARKET UPDATE:BSE Sensex traded 40 points lower at 58,964 levels while Nifty tested 17,550-mark, up 2 ponits

MARKET UPDATE:BSE Sensex traded 40 points lower at 58,964 levels while Nifty tested 17,550-mark, up 2 ponits

Wednesday, September 22, 2021

Indian equity markets were volatile in early trade today(22nd Sept.2021) as investors assessed the impact of the Evergrande crisis on India, and ahead of the US Federal Reserve's monetary policy outcome. The 30-share BSE Sensex traded 40 points lower at 58,964 levels while the NSE Nifty50 tested 17,550-mark, up 2 points. HCL Tech, BPCL, Hindalco, IndusInd Bank, and Tata Motors were the top gainers on the benchmark indices. In the broader market, the BSE MidCap and SmallCap indices added 0.91 percent and 0.80 percent, respectively. Globally, the Shanghai Composite fell 0.26 percent amid the ongoing Evergrande crisis. Elsewhere in Asia, the Nikkei 225 in Japan was down 0.5 percent and Australia's S&P/ASX 200 edged 0.83 percent higher.

No need to lap up metal stocks yet, hint tech charts

No need to lap up metal stocks yet, hint tech charts

Tuesday, September 21, 2021

On Monday(20th Sept.2021) metal shares witnessed their biggest meltdown in recent times as a debt crisis at one of China’s biggest property developers, Evergrande, led to a global decline in industrial metals and ore prices. The BSE Metal index tumbled nearly 7 percent in trade in the last session. Naturally, the question arises that Should you enter the stocks at current levels or wait for them to turn cheaper? Tech charts suggest the latter seems to be a better option. Read more

MARKET UPDATE:BSE Sensex rose 265 points to 58,710 while Nifty added 58 points to trade above 17,450 levels

MARKET UPDATE:BSE Sensex rose 265 points to 58,710 while Nifty added 58 points to trade above 17,450 levels

Tuesday, September 21, 2021

The Indian benchmark indices today(21st Sept.2021) rose, defying the weak global market sentiment, tracking gains in IT majors and Reliance Industries. The BSE Sensex rose 265 points to 58,710 while the NSE Nifty added 58 points to trade above 17,450 levels. HCL Tech, Tech Mahindra, TCS, and Asian Paints were among the top gainers in the Sensex pack of stocks. On the other hand, Nestle, Maruti, and Ultratech Cement were the only losers. The broader indices traded in tandem with the benchmarks. The BSE Midcap index added 0.31 percent and the BSE Smallcap 0.25 percent.

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Monday, September 20, 2021

Last week the Sensex almost touched 60,000, while the Nifty edged closer to 18,000. These levels would have been difficult to fathom when the Sensex dropped below 26,000 and the Nifty fell to 7,500-levels on March 23, 2020, at the peak of the Covid-19 sell-off. Market experts point out that such low levels were an aberration and one should not look at the gains made from these levels. But even from the valuation standpoint, stocks, across the board, are expensive. The bullish sentiment, especially towards Indian equities, stems from factors, such as the easy monetary stance of the US Fed and other central banks, the hope of strong revival in the economy and corporate earnings, strong domestic and retail flows, and reallocation of foreign flows due to the regulatory crackdown in China. Experts warn investors against going overboard as they see the risk-reward ratio turning unfavourable at the current levels.

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Risk-reward ratio turning unfavourable at the current levels of Indian markets: Experts

Monday, September 20, 2021

MARKET UPDATE:BSE Sensex trading 140 points down at 58,870 level while Nifty reclaimed the 17,500 mark but down 45 points

MARKET UPDATE:BSE Sensex trading 140 points down at 58,870 level while Nifty reclaimed the 17,500 mark but down 45 points

Monday, September 20, 2021

Today's session (20th Sept.2021) was kicked off on a gap-down note and the benchmark indices recouped some losses amid buying in FMCG and IT shares. The BSE Sensex was trading 140 points down at 58,870 level while Nifty50 reclaimed the 17,500 marks but was down 45 points. Financials, private banks, and metal stocks were among the worst drags in the opening session. The broader markets, too, declined, underperforming benchmarks. Both the BSE Midcap and Smallcap indices dropped over 1 percent. In sectoral space, all indices, barring the Nifty FMCG pack, traded in the red. Nifty Metal tumbled the most, down 3 percent. Meanwhile, PSU Bank, Private Bank, Bank, and Auto indices too shed over 1 percent each.

Government will select the winner in Air India’s disinvestment in about three weeks

Government will select the winner in Air India’s disinvestment in about three weeks

Friday, September 17, 2021

The government will select the winner in Air India’s disinvestment in about three weeks and two high-level committees will finalise the reserve price for the national carrier within this period. The reserve price of the carrier will be soon decided by the inter-ministerial group (IMG) headed by the secretary, Department of Investment and Public Asset Management (DIPAM), based on the inputs from government-appointed valuers. The Core Group of Secretaries on Divestment (CGD), chaired by the cabinet secretary, will then consider the IMG’s recommendation. The Tata group and SpiceJet promoter Ajay Singh are in the race to acquire the loss-making airline. This process is being targeted to be completed in three weeks, said a top government official. The security clearance of the bidders who have shown an interest by placing financial bids is underway, he added. Read more

MARKET UPDATE:BSE Sensex hit a new pinnacle of 59,551, up 400 points while NSE Nifty claimed 17,747, up 118 points

MARKET UPDATE:BSE Sensex hit a new pinnacle of 59,551, up 400 points while NSE Nifty claimed 17,747, up 118 points

Friday, September 17, 2021

Today (17th Sept.2021) financial stocks, along with RIL, ITC, and Tata Steel, fired upon the bourses, lifting Indian benchmark indices to fresh all-time highs. The BSE Sensex index hit a new pinnacle of 59,551 in early deals, up 400 points, while the Nifty50 claimed 17,747, up 118 points. Bajaj Finance (up 2.7%), SBI, ITC, Bajaj Finserv, Bharti Airtel, Kotak Bank, Maruti Suzuki, and Titan were the top gainers on the 30-share pack. Sectorally, the Nifty PSU Bank index jumped 1%, followed by the Nifty Bank index (0.8%) and the Nifty Financial Services (0.7%). Shares of Vodafone Idea continued their upward movement and were up 10 percent at Rs 12.37 on the BSE in the intra-day trade today. The stock has zoomed 39 percent in the past two trading days after the government announced a relief package for the telecom sector.

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

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

MARKET UPDATE:Profit taking pulls benchmarks off record highs;BSE Sensex down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 mark

Thursday, September 16, 2021

Indian benchmark indices After hitting fresh record highs in opening trade witnessed some profit-taking and turned flat. The BSE Sensex was down 5 points at 58,660 level while NSE Nifty slipped below the 17,550 marks. It was trading flat at 17,520. Shares of FMCG major ITC witnessed a sharp rally and was the major index contributor. On the other hand, index heavyweights Infosys, TCS, HDFC Bank, and RIL were the top drags. Sectorally, the FMCG index gained the most, up 1.5 percent. The banking, auto, and realty sector were among other gainers.

Market rally would remain broad-based going ahead: Experts

Market rally would remain broad-based going ahead: Experts

Wednesday, September 15, 2021

Markets have been trading sideways ahead of the meetings of the two major global central banks – the US Federal Reserve and the Reserve Bank of India (RBI) – over the next couple of weeks. Market experts expect natural profit-taking to happen with rising markets, but do not see any meaningful correction unless there is a more aggressive taper stance by the US Fed. They are cautiously optimistic on markets for 2021, on surplus global liquidity, and benign interest rates. The US Federal Reserve (US Fed), prior to the pandemic, had an outstanding balance sheet size of $4.2 trillion as of December 2019, which doubled in size to $8.3 trillion. Likewise, the European Central Bank (ECB), which had a pre-pandemic balance sheet size of 4.7 trillion euros also saw a similar proportional increase in size to 8.2 trillion euros. This liquidity is providing support to asset inflation in high-risk asset classes, including emerging equities like India. Read more

MARKET UPDATE:BSE Sensex rose 117 points at 58,360-level while NSE Nifty nearing the 17,450 mark,up 45 points

MARKET UPDATE:BSE Sensex rose 117 points at 58,360-level while NSE Nifty nearing the 17,450 mark,up 45 points

Wednesday, September 15, 2021

The Indian benchmark indices extended gains (today) after a beginning on a cautious note with the 50-pack Nifty nearing the 17,450 marks as it traded 45 points higher. Meanwhile, BSE Sensex rose 117 points at 58,360-level. Titan, NTPC, Airtel, and M&M were the top-performing stocks in the Sensex kitty of stocks, up between 1-3 percent. Axis Bank, TechM, HDFC Bank, and HCL Tech, on the other hand, were the worst laggards. The broader market outperformance showed no signs of abating. The BSE Midcap and Smallcap indices were up nearly 0.4 percent each. Sectorally, Nifty Private Bank, Nifty Bank, and Nifty Financial Services were the only losers. Media pack once again was the best performer, up 2 percent. Other top gainers included realty, FMCG, and auto. Read more

MARKET UPDATE:Sensex was up 192 points at 58,370 while NSE Nifty up 50 points at 17,400

MARKET UPDATE:Sensex was up 192 points at 58,370 while NSE Nifty up 50 points at 17,400

Tuesday, September 14, 2021

The Indian benchmark indices today (14th Sept.2021) opened for trade on a firm note amid strong cues from global markets and hopes of continuity in easy RBI money policy following the latest inflation print. The BSE Sensex was up 192 points at 58,370 in the opening session while Nifty was up 50 points at 17,400. Sectorally, all indices gained with Nifty Media leading, up over 4.5 percent. The realty, financial, and pharma sectors also gained traction. The broader markets outperformed as both BSE Midcap and Smallcap indices added over 0.6 percent each. Read more

MARKET UPDATE:BSE Sensex quoted at 58,120.5 levels, down 189.5 points while NSE Nifty at 17,320,down 50 points

MARKET UPDATE:BSE Sensex quoted at 58,120.5 levels, down 189.5 points while NSE Nifty at 17,320,down 50 points

Monday, September 13, 2021

Indian markets started on a tepid note today(13th September 2021), following a wobbly trade in the global markets. The S&P BSE Sensex quoted at 58,120.5 levels, down 189.5 points or 0.3 percent in early deals while the broader Nifty50 slipped below the 17,350-mark at 17,320, down 50 points. Individually, Reliance Industries slipped 1 percent after the company postponed the launch of JioPhone Next till Diwali amid chip shortage. That apart, ICICI Bank, HCL Tech, Infosys, Nestle India were the other top losers. In the broader market, the BSE MidCap and SmallCap indices traded mixed. Read more

Indian Economic recovery to continue even in event of third wave: FinMin

Indian Economic recovery to continue even in event of third wave: FinMin

Thursday, September 9, 2021

Today (9th September 2021) the Finance Ministry said that economic recovery, which was impacted during the second wave, will see faster revival in the next three quarters of the current financial year, even if the third wave hits the country. It is said that this confidence is mainly due to a rapid surge in the inoculation drive and a rebound in leading macroeconomic indicators. “Rapidly increasing vaccination coverage and richer experience with pandemic management provide the confidence that the recovery can continue even in the event of a third wave,” the finance ministry’s Department of Economic Affairs said in its monthly review for August. Read more

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

FRL-RIL deal: SC asks NCLT, CCI, Sebi not to pass final orders for 4 weeks

Thursday, September 9, 2021

Today (9th Sept.2021) The Supreme Court of India stayed all the proceedings before the Delhi High Court for four weeks related to the implementation of an award by Singapore's Emergency Arbitrator (EA) restraining Future Retail Ltd (FRL) from going ahead its Rs 24,731 crore merger deal with Reliance Retail. A bench headed by Chief Justice N V Ramana, in a consent order, also directed the statutory authorities like National Company Law Tribunal (NCLT), Competition Commission of India (CCI), and market regulator Sebi not to pass any final order related to the merger deal for next four weeks. It considered the statements of senior advocates Harish Salve and Mukul Rohatgi, appearing for FRL and Future Coupons Private Ltd (FCPL) respectively, that the arbitrator has reserved the final verdict in the case after hearing both sides. Read more

MARKET UPDATE:BSE Sensex was down 36 points at 58,172 while NSE Nifty shed 18 points to trade at 17,333

MARKET UPDATE:BSE Sensex was down 36 points at 58,172 while NSE Nifty shed 18 points to trade at 17,333

Thursday, September 9, 2021

The Indian benchmark indices continued to consolidate for the third day in a row as they opened marginally in the red. Profit-taking at all-time high levels and tepid global cues kept the market mood subdued. BSE Sensex was down 36 points at 58,172 while NSE Nifty shed 18 points to trade at 17,333. Axis Bank, Infosys, M&M, and Sun Pharma were the top Sensex losers while Kotak Bank, Bajaj Finserc, and Airtel were the best gainers. In the broader markets, the BSE Midcap index was unchanged while BSE Smallcap rose 0.2 percent. Sectorally, IT names continued to be under pressure while banking and financial names gained traction.

MARKET UPDATE:Volatile markets;BSE Sensex rose 112 points at 58,409 levels and Nifty at 17,420, up 42 points

MARKET UPDATE:Volatile markets;BSE Sensex rose 112 points at 58,409 levels and Nifty at 17,420, up 42 points

Tuesday, September 7, 2021

Benchmark indices in India traded with tepid gains today(7th September 2021) amid muted global cues, supported by no negative domestic triggers. The BSE barometer of 30 shares rose 112 points, or 0.2 percent, at 58,409 levels in early deals while the NSE's Nifty50 held above the 17,400-mark at 17,420, up 42 points. Asian Paints, Tata Consumer Products, HUL, ITC, and Britannia lifted the benchmarks, rising up to 1 percent. On the downside, Wipro, BPCL, Coal India, and Sun Pharma capped gains. In the broader markets, the BSE MidCap and SmallCap indices gained 0.3 percent and 0.2 percent, respectively.

A unexpected bond rally sweeps over India

A unexpected bond rally sweeps over India

Monday, September 6, 2021

A rally in India’s sovereign bonds, fueled by mutual funds and overseas investors has left most Mumbai traders baffled at their sudden fortune. Yields dropped across the curve last week, with those on the benchmark 10-year bond declining ten basis points, the biggest weekly drop since April. Government debt auctions are finding buyers again, after a spate of earlier sales were canceled or rescued by underwriters. A rally in India’s sovereign bonds, fueled by mutual funds and overseas investors after weeks of indifference, has left most Mumbai traders baffled at their sudden fortune. Mutual funds turned net buyers with purchases of 151 billion rupees ($2.1 billion) of debt over the last 10 trading days. Read more

MARKET UPDATE:Bull run extended;Indices at fresh peaks;BSE Sensex clocked 58,480 and Nifty hit a new lifetime high of 17,421

MARKET UPDATE:Bull run extended;Indices at fresh peaks;BSE Sensex clocked 58,480 and Nifty hit a new lifetime high of 17,421

Monday, September 6, 2021

Indian benchmark indices extended their bull-run and hit new peaks today(6th Sept.2021). The NSE Nifty50 surpassed the 17,400-mark and touched a new lifetime high of 17,421 while the S&P BSE Sensex clocked 58,480. Reliance Industries, up 2.7 percent, was the top-performing stock on the 30-share pack. It hit a new peak of Rs 2,454 apiece on the BSE. HUL, L&T, and M&M were the other gainers on the Sensex index. On the flipside, Tata Steel, Power Grid, Nestle India, and Tech M declined. In the broader markets, the BSE MidCap index hit a new record high of 24,562.5. The SmallCap index, meanwhile, claimed a new high of 27,502.

MARKET UPDATE:BSE Sensex valued past the 58,000 for the first time and Nifty hit a new peak of 17,300

MARKET UPDATE:BSE Sensex valued past the 58,000 for the first time and Nifty hit a new peak of 17,300

Friday, September 3, 2021

The Indian benchmark indices, led by a positive global market setup, hit new record highs at opening tick today(3rd September 2021). The BSE Sensex valued past the 58,000 marks for the first time. It rose 200 points to 58,081. Meanwhile, NSE Nifty also hit a new peak of 17,300, up 55 points. Kotak Bank, Titan, RIL, and IndusInd Bank were the top gainers in the 30-pack index while HCL Tech, TCS, Nestle India, and Maruti were the top losers. Broader market indices rose in tandem with the benchmark. BSE Midcap and Smallcap were up between 0.4-0.5 percent. Globally, the S&P 500 and Nasdaq eked out record finishes on Thursday, while the Dow also posted a modest gain after data showed the number of Americans filing new claims for jobless benefits fell to the lowest since March 2020. The Dow Jones Industrial Average rose 0.37 percent, the S&P 500 gained 0.28 percent, and the Nasdaq Composite added 0.14 percent. Read more

Apple hit with antitrust case in India over in-app payments issues

Apple hit with antitrust case in India over in-app payments issues

Thursday, September 2, 2021

Apple Inc is facing an antitrust challenge in India for allegedly abusing its dominant position in the apps market by forcing developers to use its proprietary in-app purchase system. The allegations are similar to a case Apple faces in the European Union, where regulators last year started an investigation into Apple's imposition of an in-app fee of 30% for the distribution of paid digital content and other restrictions. The case was filed by a little-known, non-profit group that argues Apple's fee of up to 30% hurts competition by raising costs for app developers and customers, while also acting as a barrier to market entry. "The existence of the 30% commission means that some app developers will never make it to the market. This could also result in consumer harm," said the filing, which has been seen by Reuters. Read more

India's market capitalisation to GDP ratio hits 13-year high

India's market capitalisation to GDP ratio hits 13-year high

Thursday, September 2, 2021

The listed companies in India are worth 122 percent of India’s latest annualised gross domestic product (GDP) — the highest since December 2008, when it had hit an all-time high of around 150 percent. The ratio was 112 percent at the end of June and 103 percent at the end of March. India’s current market capitalisation (m-cap) to GDP ratio is nearly 55 percent higher than the 15-year median ratio of 79 percent. The combined m-cap of nearly 3,500 companies listed and actively traded on the BSE reached a new high of Rs 250 trillion on Tuesday and is up 120 percent since the end of March 2020, and 33 percent since the beginning of the current calendar year. This has created a wedge between stock valuations and India’s macroeconomic fundamentals. Read more

Red-hot property stocks set for next leg of rally

Red-hot property stocks set for next leg of rally

Wednesday, September 1, 2021

Recent weakness in India’s red-hot property stocks looks short-lived as record low-interest rates and an economic recovery from the pandemic fuel demand from an increasingly affluent middle class. That’s the view of analysts, who see large listed firms emerging as the biggest beneficiaries amid ongoing consolidation in the $200 billion sectors. India’s property market is rebounding after being in a down cycle for the last six years as a series of headwinds ranging from the pandemic, a bad-loan crisis, and a surprise 2016 cash ban hurt demand for new houses and apartments. Stronger sales and weak launches are leading to faster absorption of outstanding inventory and this favorable demand-supply situation has started to build a case for price increases, according to experts.

Use dips to add auto stocks despite chip shortage concerns

Use dips to add auto stocks despite chip shortage concerns

Wednesday, September 1, 2021

The shortage of semiconductors and chips has hit the Indian automobile sector hard and after Tata Motors, Maruti Suzuki India has slashed output target for September due to a chip shortage. Yesterday (31st August 2021) Maruti Suzuki said that its vehicle production in September will tumble by 60 percent. The company, which had earlier cut down production at its Gujarat plant, said the chip shortage will hit production in Gurugram and Manesar plants, effectively forcing the automaker to cut production by 60 percent. Consequently, shares of the automaker declined 2 percent to Rs 6,700 on the BSE. The ripple effect dented other shares as well with stocks of M&M, Ashok Leyland, and TVS Motors slipping up to 1 percent. Read more

MARKET UPDATE:BSE Sensex traded at 57,679 level, up 126 points and Nifty at 17,176, up 44 points

MARKET UPDATE:BSE Sensex traded at 57,679 level, up 126 points and Nifty at 17,176, up 44 points

Wednesday, September 1, 2021

Indian benchmark indices came off highs but were trading in the green today(1st September 201) amid gains in realty, energy, FMCG, and auto stocks. The frontline S&P BSE Sensex traded at 57,679 level, up 126 points on the BSE while the broader Nifty50 was at 17,176, up 44 points. Earlier today, the indices hit new lifetime highs of 57,765.92 and 17,185.60, respectively. Axis Bank (up 3 percent), L&T, Bajaj Auto, Asian Paints, and Nestle India were the top gainers on the BSE barometer. On the contrary, HDFC (down 1 percent), Bharti Airtel, Tata Steel, and Maruti Suzuki were the top laggards. Meanwhile, in the broader market, the BSE MidCap and SmallCap indices advanced 0.7 percent each.

MARKET UPDATE:BSE Sensex claimed new all-time high of 57,125 and Nifty touched 16,996

MARKET UPDATE:BSE Sensex claimed new all-time high of 57,125 and Nifty touched 16,996

Tuesday, August 31, 2021

Indian markets hit fresh record peaks today(31st August 2021) even as concerns over the crackdown of private industries in China capped rally elsewhere in Asia. The benchmark S&P BSE Sensex claimed a new all-time high of 57,125 while the Nifty50 touched 16,996. The indices, however, succumbed to profit-booking and were later trading flat at 56,914 and 16,930. HCL Tech, Tech Mahindra, Bharti Airtel, Adani Ports, and TCS were the top gainers on the 50-share index while Tata Motors, HDFC Life, IndusInd Bank, SBI, and RIL were the biggest laggards. In the broader markets, the BSE MidCap index added 0.2 percent while the BSE SmallCap index advanced 0.4 percent.

India will continue to be a favoured investment destination

India will continue to be a favoured investment destination

Monday, August 30, 2021

India will continue to be a favoured investment destination like we have seen in the last 20 years. Markets have probably discounted a gradual tapering by the US Fed. Recently, small caps and commodities did correct more than large caps. However, keeping the short-term reactions aside, the impact of any taper really depends on the circumstances under which the US Fed starts tapering, according to some analysts. The upside potential in large caps is probably in single-digit percentages. As far as small and mid-caps are concerned, valuations are stretched after the super run of the past 12 months and for the first time in over a decade, the mid-cap indices’ valuations are at a premium to large-caps. Read more

MARKET UPDATE:BSE Sensex hit a new high of 56,544.35 and Nifty touched 16,836 levels

MARKET UPDATE:BSE Sensex hit a new high of 56,544.35 and Nifty touched 16,836 levels

Monday, August 30, 2021

Indian equities scaled new record peaks in early deals today(30th August 2021) as Jerome Powell's speech last Friday suggested interest rate hike in the US could be later than previously thought. The frontline S&P BSE Sensex hit a new high of 56,544.35 while the Nifty50 touched 16,836 levels. Both the indices later scaled down to 56,458 and 16,803 levels, up 333 points and 98 points, respectively. In the broader markets, the BSE MidCap and SmallCap indices gained 1 percent each. Shares of Bharti Airtel gained 1.9 percent and traded at Rs 605.5 on the BSE in the intra-day trade today after the telecom services provider announced a Rs 21,000-crore rights issue. The stock hit an intra-day low of Rs 591.10 after opening at Rs 597.75. In comparison, the S&P BSE Sensex was up 0.69 percent at 56,513 points at 09:35 am.

HCL Tech gains 5% on signing contract with reinsurers Munich Re

HCL Tech gains 5% on signing contract with reinsurers Munich Re

Monday, August 23, 2021

Shares of HCL Technologies surged 5 per cent to hit a new high of Rs 1,168 on the BSE in intra-day trade on Monday, after the company said it has signed a contract with Munich Re, one of the world’s leading reinsurers, to create a next generation digital workplace for its workforce. The Indian IT major said that building on its strategic digital transformation partnership with Munich Re, HCL will modernize and standardize workplace services for more than 16,000 employees in 40 countries. The company further said it will adopt a “global” strategy to support Munich Re’s global workforce in multiple languages, including German, Spanish and Mandarin, from near-shore locations. HCL will also implement a highly personalized service desk solution and leverage the power of automation and self-service capabilities to improve efficiency and enhance employee user experiences, the company said. Read more

Indian stock market likely to underperform: Chris Wood

Indian stock market likely to underperform: Chris Wood

Friday, August 20, 2021

Indian stock markets are likely to underperform their global peers in case of a global risk-off triggered by a taper scare, believes Christopher Wood, global head of equity strategy at Jefferies. Yet, he remains structurally positive and has hiked allocation to Indian equities by two percentage points (2 ppt). Currently, 31 percent of Wood's Asia ex-Japan thematic equity portfolio for long-only absolute-return investors is in India and includes marquee names such as Reliance Industries (RIL), HDFC, ICICI Prudential Life Insurance, ICICI Lombard General Insurance, Godrej Properties, and ICICI Bank. The major risk to Indian equities, according to him, is the arrival of a new Covid variant, which he says the country shares with the rest of the world. The other risk, according to him, is a change in the Reserve Bank of India's (RBI's) dovish policy.

Sensex falls amid global sell-off

Sensex falls amid global sell-off

Friday, August 20, 2021

Indian stocks tanked today (20th August 2021) following their global peers as the fear of earlier-than-expected Fed tapering set off a selling spree. Barring select names in the IT sector, all sectoral indices traded in the red. Metals were among the worst hit as they also dealt with plunging iron ore and other metal futures prices. India VIX, barometer of volatility, surged nearly The 30-share Sensex index declined 300 points, or 0.4 percent, and closed at 55,329 levels on Friday while the Nifty50 index ended at 16,451 levels, down 118 points or 0.7 percent. Both the indices had hit intra-day lows of 55,014 and 16,376, respectively, earlier today(20th August 2021). Read more

MARKET UPDATE:BSE Sensex tumbled 232 points at 55,398 levels and Nifty at 16,467 level, down 101 points

MARKET UPDATE:BSE Sensex tumbled 232 points at 55,398 levels and Nifty at 16,467 level, down 101 points

Friday, August 20, 2021

The Indian equities were hit today(20th August 2021) due to Worries that the US Federal Reserve could rein in vast stimulus measures this year, coupled with the rapid spread of the coronavirus Delta variant, signs of faltering Chinese economic growth, and the Taliban's takeover of Afghanistan. The BSE Sensex index tumbled 232 points, or 0.42 percent, at 55,398 levels while the Nifty50 tested the 16,450-mark at 16,467 level, down 101 points. In the broader markets, both, the BSE MidCap and SmallCap indices were down 1 percent each. Sectorally, all except the Nifty IT index (up 0.56 percent) were in the red, led by the Nifty Metal index (down 3 percent).

Is the market for IPO in India is turning wild?

Is the market for IPO in India is turning wild?

Thursday, August 19, 2021

The amount of money raised in IPOs this year in India has reached $8.8 billion, already surpassing the totals of the past three years. At the current pace, 2021 would exceed the all-time record of $11.8 billion. Founders, bankers, lawyers, and advisers are racing to cash in on fervent demand for fresh public offerings. The performance of recent IPOs, such as Zomato, has fed the enthusiasm. Newly listed Indian stocks are beating the benchmark Nifty 50 Index by more than 40 percentage points this year, the biggest gap in seven years. Oyo Hotels & Homes Pvt started work last week on its draft prospectus and aims to file in October, according to people familiar with the matter. The ride-hailing leader Ola and fintech startup Pine Labs Pvt have also begun talks with investment bankers, according to other people aware of the situation. Read more

MARKET UPDATE:BSE Sensex rose 294 points to touch 56,086.50 and Nifty hit 16,692-mark, up over 70 points

MARKET UPDATE:BSE Sensex rose 294 points to touch 56,086.50 and Nifty hit 16,692-mark, up over 70 points

Wednesday, August 18, 2021

Today (18th August 2021) the S&P BSE Sensex index rose as much as 294 points to touch 56,086.50 in the first few minutes of trade, and the broader NSE Nifty50 benchmark climbed to as high as 16,691.95, up 77 points from its previous close. HDFC Bank, Ultratech Cement, HDFC, Asian Paints, and Nestle India lifted the headline indices to new highs on Wednesday. The BSE Sensex index scaled a new all-time high of 56,086.5, up 250 points or 0.5 percent. The Nifty50, on the other hand, hit the 16,692-mark, up over 70 points or 0.4 percent. In the broader markets, both, the BSE MidCap and SmallCap indices were up 0.3 percent each.

India's GDP likely to grow 13-23% in first quarter

India's GDP likely to grow 13-23% in first quarter

Tuesday, August 17, 2021

Indian GDP growth is estimated by the economists to grow in the range of 13.1-23 percent for the first quarter (Q1) of this fiscal year. The index of industrial production (IIP) would take into account 45 percent of manufacturing while the rest will be corporate data, he said. Soumya Kanti Ghosh, the chief economic advisor to the SBI group, said: “Our preliminary estimates suggest that GDP growth could be in the range of 17-18 percent for Q1.” However, he said ideally one should look at the gross value added (GVA) numbers because the GDP numbers were likely to be bolstered by strong tax collection in Q1. Net product taxes, which take out subsidies, are added to GVA to arrive at GDP. Read more

MARKET UPDATE:Volatile market;BSE Sensex up 45 points at 55,628 levels and Nifty at 16,572 level, up 9 points

MARKET UPDATE:Volatile market;BSE Sensex up 45 points at 55,628 levels and Nifty at 16,572 level, up 9 points

Tuesday, August 17, 2021

Indian equities were volatile today(17th August 2021) amid tepid gains in Asian markets and stretched valuations back home. The headline S&P BSE Sensex was up 45 points at 55,628 levels while the Nifty50 index was at 16,572 level, up 9 points. Both the indices hit new all-time highs of 55,688.5 and 16,591 levels, respectively. In the broader markets, the BSE MidCap and SmallCap indexes were mildly below the flatline. Sectorally, markets looked defensive with pharma and FMCG stocks in the green and cyclical like banks and auto in the red.

MARKET UPDATE:BSE Sensex at 55,357 levels, down 81 points and Nifty down 23 points at 16.505 levels

MARKET UPDATE:BSE Sensex at 55,357 levels, down 81 points and Nifty down 23 points at 16.505 levels

Monday, August 16, 2021

Indian benchmark equities were slipped today(16th August 2021), in line with Asian markets. The benchmark S&P BSE Sensex was at 55,357 levels, down 81 points or 0.15 percent, while the Nifty50 defended 16,500-mark, down 23 points at 16.505 levels. The Nifty Metal and Auto indices were the only indices in the green. In the broader market, the BSE MidCap and SmallCap indices were down 0.1 percent and 0.2 percent, respectively. Globally, Japan's Nikkei slipped 2 percent, Australia's ASX 200 fell 0.4 percent, and MSCI's broadest index of Asia-Pacific shares outside Japan traded flat. South Korea’s markets are closed on Monday for a holiday. Read more

Larsen & Toubro Gains On Bagging Order From Technip Energies

Larsen & Toubro Gains On Bagging Order From Technip Energies

Friday, August 13, 2021

Shares of Larsen & Toubro (L&T) gained 2.8 percent and hit a record high of Rs.1,676, on the BSE in intra-day trade on Friday, after the company’s heavy engineering arm won an order for Oxidation Reactor from Technip Energies-India, which develops indigenous technology for the critical equipment."This order for the technologically critical Titanium Clad Reactor is for a Public Sector Petrochemical project for Purified Terephthalic Acid plant. The scope of supply involves Design, Material Procurement, fabrication, inspection, and testing of Reactor meeting the Licensors stringent quality requirements," Larsen & Toubro said. This order marks the opening of multiple avenues for L&T Heavy Engineering for critical titanium-clad reactors in both domestic and global markets. Read more

MARKET UPDATE:BSE Sensex claimed new record high of 55,138 and Nifty zoomed to 16,462

MARKET UPDATE:BSE Sensex claimed new record high of 55,138 and Nifty zoomed to 16,462

Friday, August 13, 2021

Indian equities hit fresh lifetime highs today(13th August 2021) despite subdued global cues. The S&P BSE Sensex claimed a new record high of 55,138 while the Nifty50 index zoomed to 16,462. Tata Consumer Products, Hindalco, TCS, Bajaj Auto, ITC, and BPCL were the top Nifty gainers In the broader markets, the BSE MidCap and SmallCap index were up 0.3 percent and 0.5 percent, respectively. Shares of Globus Spirits were locked in the upper circuit for the fifth straight trading day, up 5 percent at Rs 941, also its new high on the National Stock Exchange (NSE) today after the promoter and institutional investors bought a stake in the company through the open Read more

Bata India gains 5 percent, Q1 loss narrows to Rs 69 crores

Bata India gains 5 percent, Q1 loss narrows to Rs 69 crores

Thursday, August 12, 2021

Footwear maker's Bata India shares gained 5 percent and hit a 52-week high of Rs 1754.80 on the BSE in intra-day session on Thursday after the company reported narrowing of consolidated net loss to Rs 69.47 crore for the first quarter ended June 30, 2021. The company had posted a net loss of Rs 100.88 crore for the same period of 2020-21, Bata India said in a BSE filing. The firm’s operating revenue grew 98 percent to Rs 267 crore on a low base of Rs 135 crore that it has reported in the year-ago period. While revenues have almost doubled year-on-year to Rs 267.04 crore, helped by a favorable base, sales are still 70% lower than Q1FY20. "Sales across retail outlets remained largely subdued, owing to the second wave of COVID-19 infections and ensuing lockdowns. However, sales through e-commerce platforms continued to remain robust and witnessed an uptick despite the restrictions," Total expenses were higher at Rs 371.61 crore as compared with Rs 321.85 crore in the year-ago period. Read more

India’s largest fund house has waved the red flag on the country’s stock market

India’s largest fund house has waved the red flag on the country’s stock market

Thursday, August 12, 2021

SBI Mutual Fund, India’s largest mutual fund asset manager, has waved the red flag on the country’s stock market. The asset manager, which manages assets worth more than Rs 5 lakh crore, is concerned over the prospects of returns from the Indian equities going ahead, because of the euphoria on display in the primary market and among retail investors. “Primary market activity is flashing warning signs. Such level of activity is normally associated with euphoria (in the market),” Dinesh Balachandran, fund manager at SBI Mutual Fund said at the launch of the SBI Balanced Advantage Fund yesterday(11th August 2021). Read more

MARKET UPDATE:Sensex up 80 points at 54,600 levels and Nifty hovered around 16,312-mark, up 30 points

MARKET UPDATE:Sensex up 80 points at 54,600 levels and Nifty hovered around 16,312-mark, up 30 points

Thursday, August 12, 2021

Indian equities made a cautious start today(12th July 2021), after a roller-coaster session yesterday, on the back of gains in auto, metal, and PSU bank stocks. The BSE Sensex index was up 80 points at 54,600 levels while the Nifty50 hovered around 16,312-mark, up 30 points. In the broader markets, the BSE MidCap and SmallCap indices were trading higher, up 0.28 percent and 1 percent, respectively. Key companies like Ashok Leyland, Aurobindo Pharma, Eicher Motors, Hero MotoCorp, IRCTC, NMDC, Natco Pharma, Oil India, Page Industries, Power Finance, BPCL, and Tata Steel are slated to post their quarterly earnings today.

MARKET UPDATE:Sensex skidded 165 points to trade at 54,390 levels and Nifty gave up 16,250 levels

MARKET UPDATE:Sensex skidded 165 points to trade at 54,390 levels and Nifty gave up 16,250 levels

Wednesday, August 11, 2021

In Indian markets, an across-the-board selloff hit Street today(11th August 2021), erasing early morning gains. At the headline level, BSE Sensex skidded 165 points to trade at 54,390 levels while the Nifty50 gave up 16,250 levels. The broader markets, too, succumbed to profit-booking. The BSE MidCap and SmallCap indices fell 1.5 percent and 2.5 percent, respectively. Around 300 companies including Bata India, Cadila Healthcare, Endurance Tech, New India Assurance, Antony Waste Handling Cell, Bajaj Electricals, HEG, IDFC, India Cement, VIP Industries, and Pidilite are slated to post their quarterly earnings today.

Coal India quarterly result

Coal India quarterly result

Tuesday, August 10, 2021

The country's largest coal mining company, Coal India reported a 52.4 percent year-on-year rise in consolidated net profit to Rs 3,174 crore for the quarter ended June, which was below analysts’ expectations. Profit was estimated at Rs 3,805 crore on revenue of Rs 24,400 crore for the June quarter, according to the average estimates of analysts polled by CNBC. It was Rs 2,080 crore in the year-ago period. Consolidated revenue from operations increased 36.8 percent year-on-year to Rs 25,282.1 crore in Q1FY22, with offtake (raw coal) rising sharply by 32.8 percent YoY to 160.44 million tonnes. The company also saw a sharp rise in expenses during the quarter led by raw material costs. Coal India’s consolidated total expenses in the reported quarter jumped 31.3 percent on year to Rs 21,626.5 crore. The state-owned coal mining firm produced 123.98 million tonnes of raw coal in Q1FY22, increasing compared to 121.04 million tonnes of production in the corresponding period last fiscal. Read more

MARKET UPDATE: Sensex up 260 points to trade at 54,662 levels and Nifty hovering above 16,300-mark, up 60 points

MARKET UPDATE: Sensex up 260 points to trade at 54,662 levels and Nifty hovering above 16,300-mark, up 60 points

Tuesday, August 10, 2021

Indian equities picked pace today(10th August 2021), amid mixed global signals, propelled by gains in consumer durables, bank, and realty stocks. The benchmark S&P BSE Sensex added 260 points, or 0.48 percent, to trade at 54,662 levels while the Nifty50 index was hovering above the 16,300-mark, up 60 points. In the broader market space, the BSE MidCap and SmallCap indices gained up to 0.2 percent. More than 200 companies including Zomato, Coal India, Lupin, Power Grid Corporation of India, Ashoka Buildcon, Deepak Fertilisers, Eveready Industries, KIMS, Max Financial Services, Motherson Sumi Systems, and Whirlpool of India are slated to post their quarterly earnings today.

Five bank stocks that can rally up to 13% from current levels

Five bank stocks that can rally up to 13% from current levels

Monday, August 9, 2021

Since April 2021 the NIFTY BANK index has faced resistance at higher levels and has been unable to cross 36,000 levels, as per the weekly setup. The recent momentum, however, has propelled Nifty Bank above the said resistance and there are chances that it can see 36,750 levels in the days ahead, as per the daily chart. The overall structure of weekly and daily charts suggests a positive rally that could see Nifty Bank surpass 37,000 levels and gain more ground. The immediate support comes at 35,500 levels. NIFTYBANK Likely target: 36,750 and 37,000 Upside potential: 2% to 2.50% Read more

MARKET UPDATE: Volatile markets;Sensex was trading at 54,452 levels, up 174 points and Nifty was quoting at 16,285 levels, up 47 points

MARKET UPDATE: Volatile markets;Sensex was trading at 54,452 levels, up 174 points and Nifty was quoting at 16,285 levels, up 47 points

Monday, August 9, 2021

Indian equity markets were volatile today(9th August 2021) amid mixed global trends. The frontline S&P BSE Sensex was trading at 54,452 levels, up 174 points or 0.32 percent, in early deals while the Nifty50 was quoting at 16,285 levels, up 47 points. Tech M, HCL Tech, UltraTech Cement, Infosys, SBI, and IndusInd Bank were the top gainers. In the broader markets, the BSE MidCap index slipped 0.12 percent while the BSE SmallCap index added 0.3 percent. In the commodities market, gold slumped to the lowest since March as the prospect of higher rates makes bullion less attractive relative to other assets. Silver dropped to its lowest since November and crude oil extended last week's decline on concern the delta virus strain will hamper demand growth. Read more

MARKET UPDATE: Sensex declined 108 points,at 54,261 levels and Nifty dipped 45.5 points to quote at 16,214-mark

MARKET UPDATE: Sensex declined 108 points,at 54,261 levels and Nifty dipped 45.5 points to quote at 16,214-mark

Thursday, August 5, 2021

Indian equities erased gains and slipped into the red amid profit-booking. The frontline BSE Sensex declined 108 points, or 0.2 percent, at 54,261 levels while the Nifty50 index dipped 45.5 points, or 0.28 percent, to quote at 16,214-mark. Both the indices hit new highs of 54,576.64 and 16,294.65 in morning deals. Sectorally, all expect the Nifty IT index was in the red led by banking and realty counters. Individually, shares of Vodafone Idea hit 15 percent lower circuit after Kumar Mangalam Birla stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company. More than 100 companies, including Adani Power, NCC, GAIL, Tata Chemicals, Cipla, Quess Corp, Indiabulls Housing Finance, and Gujarat Gas are slated to post their results.

Service activities decline for 3rd straight month in July due to Lockdown

Service activities decline for 3rd straight month in July due to Lockdown

Wednesday, August 4, 2021

The biggest sector of India's economy, Services, continued to contract for the third month in a row in July due to restrictions imposed by state governments to arrest the spread of the Covid-19 pandemic according to a widely tracked IHS Markit purchasing managers' index (PMI) survey. Business activity, new orders, and employment declined in July, according to a commentary associated with the survey. The latest data also pointed to an intensification of inflationary pressures across the sector, it said. New work intakes also fell for the third month running in July, albeit at a softer pace than in June. In addition to challenging conditions domestically, firms observed a further deterioration in international demand for services. New business from abroad decreased at a sharp pace that was little changed from June. Read more

Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Sensex leaps 546 pts,but investors poorer by Rs 50,000 cr.

Wednesday, August 4, 2021

Indian benchmark indices continued to scale new record highs today(4th August 2021) as in-line earnings and positive global cues lifted the morale. Bank and financial services stocks were in demand while others saw selling. Broader market indices ended in the red after traders booked profits. However, the volatility indicator cooled off. The return of FIIs also supported the market. The 30-share pack Sensex climbed 546.41 points or 1.02 percent to close at 54,369.77. Its broader peer NSE Nifty advanced 128.05 points or 0.79 percent to 16,258.80. Both indices closed at record high levels. However, overall investor wealth came down by Rs 49,576 crore as the total market cap of BSE-listed companies stood at 239.55 lakh crore. Read more

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

SBI reports highest-ever quarterly net profit of Rs 6,504 crore in Q1

Wednesday, August 4, 2021

The country's largest lender, State Bank of India shares surged more than 2 percent on Wednesday as the bank reported a net profit of ₹ 6,504 crores in the quarter ended June 2021, which marked an increase of 55 percent from a profit of ₹ 4,189.34 crores during the same period last year. This was the highest quarterly net profit reported by the lender, SBI said in the BSE filing. The profit was higher than Street’s expectations. A CNBC-TV18 poll of analysts had estimated Q1 profit at Rs 6,374.5 crore. The bank's net interest income, the difference between interest earned and expended, witnessed a growth of 3.7% at ₹27,638 crores as against ₹26,641 crore year-on-year (YoY).SBI's other income jumped 48 percent to ₹ 11,803 crores while provisions for bad loans declined 47 percent to ₹ 5,030 crores on a year-on-year basis. The bank’s operating profit surged 5.06 percent year-on-year to Rs 18,975 crore in Q1FY22, against Rs 18,061 crore in Q1FY21. Read more

MARKET UPDATE: Sensex zoomed 510 points to quote at 54,333 levels and Nifty at 16,270 levels, up 130 points

MARKET UPDATE: Sensex zoomed 510 points to quote at 54,333 levels and Nifty at 16,270 levels, up 130 points

Wednesday, August 4, 2021

Factors like ample liquidity, solid earnings by India Inc, and a conducive global mood fired up stocks on Dalal Street today(4th August 2021) with benchmarks claiming fresh record peaks for the second consecutive day. The frontline BSE Sensex zoomed 510 points to quote at 54,333 levels after hitting a new peak of 54,340.5-mark in early deals. Its NSE counterpart, on the other hand, traded at 16,270 levels, up 130 points. In the intra-day session, it hit a new peak of 16,271. In the broader markets, the BSE MidCap and SmallCap indices also claimed new lifetime highs, adding 0.3 percent and 0.6 percent, respectively. About 70 companies, including State Bank of India, Titan Company, Godrej Consumer Products, HPCL, and PNB Housing Finance, that are slated to report their June quarterly result. Read more

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

MARKET UPDATE: Sensex trading at 53,230 levels, up 280 points and Nifty hit fresh record peak of 15,975, up 90 points

Tuesday, August 3, 2021

Indian equities rallied today(3rd August 2021), bucking weak Asian trend, amid gains in realty, FMCG, pharma, and IT stocks. The frontline S&P BSE Sensex was trading at 53,230 levels, up 280 points while the Nifty50 index hit a fresh record peak of 15,975, up 90 points. The index is only 25 points shy of the 16,000-mark. In the broader markets, too, the BSE Mid- and SmallCap indices hit new peaks, advancing up to 0.5 percent, in intra-day trade. about seventy companies are looking to release their quarterly earnings, including Adani Ports, Adani Enterprises, Bharti Airtel, Barbeque Nation, Dabur, Inox Leisure, and Tata Consumer Products. In regards to Airtel, analysts believe the company may report stable ARPU sequentially and nearly flat revenue growth. Further global cues will continue to sway market sentiments.

Sale of two state-run banks differed to next year?

Sale of two state-run banks differed to next year?

Monday, August 2, 2021

India’s plan to sell two state-controlled banks may get deferred to the next financial year as the government is yet to seek parliament’s nod for changes in laws required to start the transaction, according to reliable sources. The Finance Ministry hasn’t finalised modalities to seek approval from lawmakers for the sale, which leaves little time for the process to be completed this year, it is said. The government will seek buyers for two state-run banks by March 2022, Finance Minister Nirmala Sitharaman had said in February, in the nation’s budget for the current financial year that began on 1st April.

MARKET UPDATE: Sensex rallied 330 points to trade at 52,916 levels and Nifty hovered around the 15,850-mark, up 92 points

MARKET UPDATE: Sensex rallied 330 points to trade at 52,916 levels and Nifty hovered around the 15,850-mark, up 92 points

Monday, August 2, 2021

The Indian benchmark indices were up by over 0.5 percent today (2nd August 2021) mainly due to hopes of strong June quarter results, supported by a firm global set-up. Japan's Topix index rose 1.5 percent, Australia's S&P/ASX 200 Index rose 0.1 percent and South Korea's Kospi index gained 0.3 percent in Asia. The S&P BSE Sensex rallied 330 points in early deals to trade at 52,916 levels while the Nifty50 hovered around the 15,850-mark, up 92 points. In the broader markets, small-cap stocks outperformed the frontline indices. In terms of sectoral rotation, investors moved away from metals towards auto stocks. Forty-nine companies HDFC, Punjab National Bank, and Varun Beverages are among the 49 companies slated to report their June quarter results today.

India equity deals: Cash-rich investors are set to step up the hunt for Indian firms

India equity deals: Cash-rich investors are set to step up the hunt for Indian firms

Friday, July 30, 2021

Cash-rich investors are set to step up the hunt for Indian firms, mainly tech start-ups, likely to benefit in the post-pandemic world, after pumping in a record $30 billion via public and private equity deals this year, analysts said. Global investors have flocked to online platforms in the country and helped swell the ranks of unicorns, or start-ups valued at $1 billion or above. The regulatory clampdown by China on its technology firms is spurring some foreign investors to turn to the world's second-most populous nation instead, analysts said. The fundraising boom in India by companies, ranging from an e-commerce platform to a food delivery app operator, comes even as the country's economic rebound, already weakened in recent months, faces risk from coronavirus variants. Read more

MARKET UPDATE: Sensex advanced 40 points to trade at 52,693 levels and Nifty held above 15,750-mark down 2 points

MARKET UPDATE: Sensex advanced 40 points to trade at 52,693 levels and Nifty held above 15,750-mark down 2 points

Friday, July 30, 2021

In Indian markets the S&P BSE Sensex advanced 40 points, or 0.04 percent, to trade at 52,693 levels in early deals today(30th July 2021)led by Tech Mahindra (up 6 percent), HCL Tech, Power Grid, HDFC, and TCS. NSE's Nifty50, meanwhile, held above 15,750-mark at 15,776 levels, down 2 points. In the broader markets, the BSE MidCap and SmallCap indices were trading in the red. Globally, selling resumed in Asian markets as risks of China crackdown still loomed. Japan's Topix index shed 1 percent, Hong Kong Hang Seng tanked 1.4 percent and China's Shanghai Composite index lost 0.8 percent. At the same time, Nasdaq and S&P futures were down 1.3 percent and 0.8 percent, respectively. Read more

Cabinet Clears amendments for privatisation of general insurance firm

Cabinet Clears amendments for privatisation of general insurance firm

Thursday, July 29, 2021

The cabinet has approved an amendment to the General Insurance Business (Nationalisation) Act, 1972 paving the way for privatisation of one state-run general insurer. At present, there are four state-run general insurance companies - National Insurance Company Limited, New India Assurance Company Limited, Oriental Insurance Company Limited, and the United India Insurance Company Limited. According to reports, NITI Aayog which was to recommend suitable candidates for privatisation has suggested the name of United India Insurance to the Core Group of Secretaries on Disinvestment headed by the Cabinet Secretary. Read more

MARKET UPDATE: Indian markets resumed their uptrend; Sensex gained 238 points, to quote at 52,681 and Nifty at 15,780 levels, up 81 points

MARKET UPDATE: Indian markets resumed their uptrend; Sensex gained 238 points, to quote at 52,681 and Nifty at 15,780 levels, up 81 points

Thursday, July 29, 2021

Indian markets resumed their uptrend today (29th July 2021) after three days of a selloff as global mood stabilised post favourable US Fed meet outcome. Besides, reports that the Chinese Securities regulator has stepped in to assuage investor concerns over tech crackdown supported sentiment. The S&P BSE Sensex gained 238 points, or 0.45 percent, to quote at 52,681. levels in early deals, led by HCL Tech, Bharti Airtel, Tech M, Asian Paints, and Titan.It's NSE counterpart Nifty 50, meanwhile, held above the 15,750-mark at 15,780 levels, up 81 points. The BSE Mid- and SmallCap indices too added 0.54 percent and 0.65 percent, respectively. More than 90 companies, including Tech Mahindra, TVS Motors, Future Retail, Lauras Labs, PVR, Raymond, Stove Kraft, and Union Bank will announce their quarterly numbers today.

Sensex falls for third day; what frightens investors on D-Street?

Sensex falls for third day; what frightens investors on D-Street?

Wednesday, July 28, 2021

In across-the-board selling by the investors, the benchmark indices tumbled for a third day while volatility shot up ahead of the US Federal Reserve outcome later today and Thursday's July F&O expiry. Overall, the BSE barometer Sensex gave up the 52,000 marks as it cracked 776 points to day's low of 51,803. NSE's Nifty50 tumbled over 200 points to 15,513. Index heavyweights HDFC twins, Reliance Industries, ICICI Bank, Axis Bank, and Infosys were among the top Sensex drags. Select counters like IndusInd Bank, HUL, and Titan held their ground. Investors, meanwhile, turned poorer by nearly Rs 3 trillion. Today's (27th July 2021) fall is due mainly to a regulatory crackdown by the Chinese government. Investors worried whether the selloff in Chinese tech stocks would spread to other segments. Read more

MARKET UPDATE: Weak global cues drag Sensex lower. All sectoral indices in red

MARKET UPDATE: Weak global cues drag Sensex lower. All sectoral indices in red

Wednesday, July 28, 2021

Bears tightened their grip on the Indian markets as nervousness in the global markets amid China's tech crackdown and ahead of the US Federal Reserve nudged investors to book profits. The frontline S&P BSE Sensex declined 515 points to trade at 52,067 levels. The Nifty50, on the other hand, gave up 15,600-mark and was at 15,592, down 154 points. Broader indices fell in line with the benchmarks as well. Globally, most Asian indices tracked a weak Wall Street finish to open in the red. Japan's Topix index fell 0.5 percent and Australia’s S&P/ASX 200 lost 0.1 percent although Hong Kong's Hang Seng was up 1.45 percent. Read more

Sell-off in pharma stocks: Sensex drops 274 points

Sell-off in pharma stocks: Sensex drops 274 points

Tuesday, July 27, 2021

Weak global cues and some disappointing shows by India Inc. in the June quarter pushed benchmark indices lower today(27th July 2021), wiping off early gains. Pharma stocks were among the biggest drags. Investors grew nervous on the back of selling across Chinese markets by global funds. On the other hand, certain pockets across the broader market like textile exporters and coffee stocks posted smart gains on the back of rising coffee futures, according to an analyst. The 30-share pack Sensex declined 273.51 points or 0.52 percent to close at 52,578.76. The index fell nearly 450 points from its highs. Its broader peer NSE Nifty fell 78 points or 0.49 percent to 15,746.45. Barring Nifty Metal and Nifty PSU Bank that rose 1.46 percent and 0.38 percent, respectively, all other sectoral indices on NSE ended in the red. Nifty Pharma tanked the most at 4.33 percent. Nifty Private Bank and Nifty Realty fell about a percent each. Read more

MARKET UPDATE: Sensex climbed 153 points to trade at 53,006 levels and Nifty at 15,861, up 36 points

MARKET UPDATE: Sensex climbed 153 points to trade at 53,006 levels and Nifty at 15,861, up 36 points

Tuesday, July 27, 2021

Indian indices started higher today(27th July 2021), tracking a solid sentiment in global equities. The benchmark S&P BSE Sensex climbed 153 points, or 0.29 percent, to trade at 53,006 levels while the broader Nifty50 was at 15,861, up 36 points. Broader markets outperformed the frontline indices with the BSE MidCap and SmallCap indices adding 0.4 percent and 0.8 percent, respectively. Sectorally, all the indices were in the green, led by the Nifty Metal index, up 1 percent. Globally, Japan’s Topix index added 0.6 percent, Australia’s S&P/ASX 200 index rose 0.4 percent, South Korea’s Kospi index increased 0.8 percent, and Hong Kong’s Hang Seng and China’s Shanghai Composite indices added 0.2 percent each. About 60 companies, including IndiGo, IndusInd Bank, DRL are slated to post their quarterly numbers today.

MARKET UPDATE: Sensex tumbled 147 points to quote at 52,828 levels and Nifty held at 15,807 levels, down 47 points

MARKET UPDATE: Sensex tumbled 147 points to quote at 52,828 levels and Nifty held at 15,807 levels, down 47 points

Monday, July 26, 2021

The Indian benchmark indices started weak today(26th July 2021), in tune with the other Asian markets, dragged by financials. The headline S&P BSE Sensex tumbled 147 points, or 0.28 percent, to quote at 52,828 levels in early deals while the broader Nifty50 held above the 15,800-mark at 15,807 levels, down 47 points. Shares of RIL dipped 0.35 percent after the Mukesh Ambani-led Reliance Industries (RIL) reported a consolidated net profit of Rs 12,273 crore for the three months ended June 30, 2021 (Q1FY22), down 7.2 percent from Rs 13,233 crore posted in the same period last year (Q1FY21). However, last year's June quarter profit included an exceptional gain of Rs 4,966 crore. This will mean a 48.4 percent growth in adjusted profit after tax over last year's Rs 8,267 crore. Read more

MARKET UPDATE: Sensex slipped 85 points at 52,752 levels and Nifty tested 15,750-mark, down 49 points

MARKET UPDATE: Sensex slipped 85 points at 52,752 levels and Nifty tested 15,750-mark, down 49 points

Friday, July 23, 2021

Indian equity markets erased gains and traded 0.3 percent lower in morning deals today(23rd July 2021). After a positive start, the S&P BSE Sensex slipped 85 points at 52,752 levels while the broader Nifty50 tested 15,750-mark, down 49 points. The broader markets, meanwhile, were mixed. Sectorally, all except the Nifty IT and Pharma indices were in the red, led by the Nifty Realty and Bank indices, down 0.5 percent and 0.3 percent, respectively. Forty-one companies, including RIL, JSW Steel, SBI Card, YES Bank, and Federal Bank will report their quarterly numbers today. Analysts expect improvement in RIL's energy margins on the back of a pickup in global demand to support the consolidated performance of Reliance Industries in the first quarter. However, the gains are also expected to be offset by the challenges in the retail and petrochemicals businesses, and a flattish show in telecom.

Sensex climbs 639 pts, Nifty tops 15,800;Signs of a strong corporate earnings season lifted demand for risky equities

Sensex climbs 639 pts, Nifty tops 15,800;Signs of a strong corporate earnings season lifted demand for risky equities

Thursday, July 22, 2021

Taking cues from firm global markets, the Indian market witnessed robust momentum shrugging off concerns over the spread of Covid-19 and FII selling. Global markets continued to hold onto their gains owing to solid earnings reports and turned their focus on the ongoing European Central Bank’s policy announcement. A confirmation by Fed to continue its supportive policy in the upcoming meet despite rising inflationary pressure will be a key factor in maintaining the direction of the rally. The benchmark indices snapped their three-day losing run and closed over a percent higher today(22nd July 2021). The headline S&P BSE Sensex index closed the session at 52,837 levels, up 639 points while the broader Nifty50 shut shop at 15,825, up 193 points. The broader markets, on the other hand, outperformed and rallied over 1.5 percent higher each. Read more

MARKET UPDATE: Sensex was at 52,619 levels, up 420 points, and Niftyhovering around 15,750-mark, rising 124 points

MARKET UPDATE: Sensex was at 52,619 levels, up 420 points, and Niftyhovering around 15,750-mark, rising 124 points

Thursday, July 22, 2021

Indian markets started gap-up today(22nd July 2021) amid broad-based buying, bolstered by strong gains in global markets. The frontline S&P BSE Sensex was at 52,619 levels in early deals, up 420 points, while the Nifty50 index was hovering around 15,750-mark, rising 124 points. Australia’s S&P/ASX 200 index rose 0.9 percent in global markets, South Korea’s Kospi index increased 0.9 percent while Japan was closed for a holiday. S&P 500 and Nasdaq futures also traded firm. Forty-four companies including Hindustan Unilever, Bajaj Auto, Ultratech Cement, Biocon, Hindustan Zinc, IIFL Securities, IndiaMART InterMESH, and Wockhardt will release their quarterly earnings today.

India's economic fundamentals strong, recovery underway: HDFC Chairman

India's economic fundamentals strong, recovery underway: HDFC Chairman

Tuesday, July 20, 2021

"Owing to the second wave, the Indian economy is likely to mirror a similar trend seen in FY21, where the first half of the financial year is weaker and the second half is significantly stronger,” according to HDFC Chairman Deepak Parekh. However, in terms of the overall macroeconomic environment, “the key challenge remains the unpredictability of the virus. The world is still susceptible to recurring waves of infections. Thus, economic recovery will remain uneven and patchy,” he said. There are a couple of factors working in favour of India. The foreign exchange reserves and foreign direct investment inflows are at a record high, agriculture growth is expected to remain strong with foodgrains estimated at over 305 million tonnes. RBI’s accommodative stance and government measures to alleviate covid-related stress would also help in the recovery, Parekh said.

MARKET UPDATE: Sensex quoted at 52,351 levels, down 202 points and Nifty at 15,715, down 37 points

MARKET UPDATE: Sensex quoted at 52,351 levels, down 202 points and Nifty at 15,715, down 37 points

Tuesday, July 20, 2021

Indian equity markets opened lower for the second straight day today(20th July 2021) as investors turned pessimists over the rising Delta variant of Covid-19 cases globally, fear of possible lockdown, and the impact of rising inflation on economic recovery. The S&P BSE Sensex quoted at 52,351 levels in early deals, down 202 points while the Nifty was at 15,715, down 37 points. In the broader markets, the BSE MidCap and SmallCap indices were mixed. In global markets, equities fell in Japan, Australia, and South Korea on Tuesday but the drops were orderly. Japan’s Topix index fell 1%, Australia’s S&P/ASX 200 index fell 0.9% and South Korea’s Kospi index fell lost 0.4%. S&P 500 and Nasdaq futures, meanwhile, gained 0.4% each. Thirty-three companies, including Asian Paints, Bajaj Finance, Crisil, and Network 18 are slated to post their June quarter results today.

Analysts see Burger King India stock as a multibagger

Analysts see Burger King India stock as a multibagger

Monday, July 19, 2021

The quick-service restaurants (QSR) are in a comfortable position to tap the growth in the Indian foodservice industry, with Covid acting as a strong tailwind, say analysts. While they expect Jubilant Foodworks, the master franchisee for Domino's Pizza in India, to be the most profitable and efficient of the lot, its expensive valuations at 177x FY21 P/E is a key concern. They, however, find more comfort in Burger King India amid expectations of swift expansion in topline and margins. Some analysts expect Burger King India to rise as much as 117 percent in the next three years. They have a target price of Rs 365 per share, assuming 25x multiple. "Burger King will enjoy an attractive opportunity for both topline and margin expansion, led by a big shift in its business model through the introduction of 'barbell' product strategy and BK Café. In addition, aggressive store network expansion and capped royalty rate will also be key drivers of EPS growth," say the experts.

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

MARKET UPDATE: Sensex traded at 53,215 levels, up 56 points and Nifty at 15,949 levels, up 25 points

MARKET UPDATE: Sensex traded at 53,215 levels, up 56 points and Nifty at 15,949 levels, up 25 points

Friday, July 16, 2021

Indian equity markets sustained their uptrend today(16th July 2021) despite the weak global trends and the benchmark indices hitting a new record high in intra-day deals. The S&P BSE Sensex traded at 53,215 levels, up 56 points or 0.11 percent while the Nifty50 was at 15,949 levels, up 25 points. In the intra-day trade, the indices touched new lifetime highs of 53,291 and15,962.25, respectively. The BSE MidCap and SmallCap indices advanced 0.11 percent and 0.38 percent in the broader market, respectively. Read more

MARKET UPDATE: sensex at 53,067 levels, up 160 points and Nifty up 41 points, to quote at 15,895 levels

MARKET UPDATE: sensex at 53,067 levels, up 160 points and Nifty up 41 points, to quote at 15,895 levels

Thursday, July 15, 2021

Indian benchmark indices saw modest gains on Dalal Street today(15th July 2021) amid mixed global cues. The frontline S&P BSE Sensex was at 53,067 levels, up 160 points or 0.31 percent. It's NSE counterpart, Nifty50, added 41 points, or 0.26 percent, to quote at 15,895 levels. Shares of Infosys added 1 percent in early deals as the IT major raised its revenue growth guidance for FY22 to 14-16 percent from an earlier estimate of 12-14 percent. L&T, HCL Tech, and Tech M were the other top gainer on the BSE barometer. The BSE MidCap index added 0.25 percent while the BSE SmallCap index advanced 0.63 percent. Twenty-two companies, including Wipro, Angel Broking, Tata Elxsi, L&T Infotech, and Cyient are slated to post their quarterly numbers today. Read more

MARKET UPDATE: Sensex dipped 135 points to quote at 52,633 levels and Nifty hovering just above 15,750-mark, down 44 points

MARKET UPDATE: Sensex dipped 135 points to quote at 52,633 levels and Nifty hovering just above 15,750-mark, down 44 points

Wednesday, July 14, 2021

Indian benchmark indices were trading lower today(14th July 2021), tracking mixed cues from other Asian markets. The frontline S&P BSE Sensex dipped 135 points, or 0.26 percent, to quote at 52,633 levels. Its NSE counterpart Nifty50, on the other hand, was hovering just above the 15,750-mark, down 44 points. In the broader market, the BSE MidCap index and SmallCap indices were up 0.06 percent and 0.32 percent, respectively. Sectorally, the Nifty IT index advanced over 1 percent while the Nifty Financial Services index dropped 0.6 percent. Nineteen companies including Infosys, 5paisa Capital, Craftsman Automation, Dodla Dairy, L&T Technology Services, and Hatsun Agro Product are slated to post their quarterly earnings today. Read more

MARKET UPDATE: Sensex gained 237 points to quote at 52,609 levels and Nifty held above the 15,750-mark, up 78 points

MARKET UPDATE: Sensex gained 237 points to quote at 52,609 levels and Nifty held above the 15,750-mark, up 78 points

Tuesday, July 13, 2021

Indian markets opened with modest gains today(13th July 2021) amid across-the-board buying. The benchmark S&P BSE Sensex gained 237 points, or 0.45 percent, in early deals to quote at 52,609 levels. The Nifty50, on the other hand, held above the 15,750-mark, up 78 points. ICICI Bank, Bajaj Finance, L&T, HDFC, and Tata Steel were the top gainers on the 30-share barometer while Tech M, HCL Tech, Bajaj Finserv, and Infosys slipped the most. Sectorally, the Nifty Realty index was leading with the most gains on the NSE. In the broader markets, the BSE MidCap and SmallCap indices rallied 0.35 percent and 0.65 percent, respectively. Among these, the SmallCap index hit a fresh record high of 26,263 in the intra-day trade. Eight companies including Mindtree, Tata Metaliks, Deccan Health Care, Shree Ganesh Remedies, and WS Industries will release quarterly earnings today.

Revival uncertain, Which stock to bet on -IT, pharma or consumer stocks?

Revival uncertain, Which stock to bet on -IT, pharma or consumer stocks?

Monday, July 12, 2021

Clearly, the market has been able to take the Second Covid Wave in stride, and very strong liquidity continues to flow into the markets. In addition to that, some of the very short-term high-frequency indicators have been pretty much positive and have been in strong momentum. On the whole, the market has essentially been able to take any kind of softness in the June quarter numbers and is willing to look at the second half of this financial year and beyond. The markets probably are more in a medium-term mindset, the experts feel. Read more

MARKET UPDATE: Sensex up 246 points at 52,632 levels and Nifty traded above 15,750 levels, up 81 points

MARKET UPDATE: Sensex up 246 points at 52,632 levels and Nifty traded above 15,750 levels, up 81 points

Monday, July 12, 2021

Indian benchmark indices started gap-up on Dalal Street today (12th July 2021), mirroring firm trends in Asia. S&P BSE Sensex jumped 246 points, or 0.47 percent, in early deals to quote at 52,632 levels. NSE's Nifty50, meanwhile, traded above 15,750 levels, up 81 points. ICICI Bank, Grasim Industries, Tata Motors, and Maruti Suzuki were the top gainers on the broader 50-share index. In the broader markets, the BSE MidCap index advanced 0.6 percent while the BSE SmallCap index added 0.91 percent. Sectorally, the Nifty PSU Bank index was ruling as the best performing index, up 1 percent. A total of 11 companies, including HFCL, Steel Strips Wheels, and Welcure Drugs & Pharmaceuticals will release quarterly earnings today.

MARKET UPDATE: Sensex fell 310 points to 52,260 levels and Nifty gave up the 15,700-mark

MARKET UPDATE: Sensex fell 310 points to 52,260 levels and Nifty gave up the 15,700-mark

Friday, July 9, 2021

The Indian benchmark indices fell over half a percent in morning deals today(9th July 2021), tracking weak cues from their Asian peers. The S&P BSE Sensex fell 310 points, or 0.6 percent, to 52,260 levels and the Nifty50 index gave up the 15,700-mark. Axis Bank, indusInd Bank, and Reliance Industries were the top Sensex drags. The stock of TCS was trading 0.85 percent lower at Rs 3,229 at 09:32 am, marginally recouping the morning loss. It had hit a high of Rs 3,274 in opening trade. There is a sudden bout of negative news for markets. The elusive virus, which is foxing even the World's best epidemiologists, has again become a threat with countries like South Korea and Australia imposing fresh restrictions. However, the valuations are excessive and there is room for markets to correct significantly. 'Buy on dips' may not prove to be a good strategy now. Profit booking and increasing the cash component in the portfolio are advisable, according to analysts.

MARKET UPDATE: Sensex hovered around 52,920 levels, down 120 points and Nifty gave up the 15,850 level

MARKET UPDATE: Sensex hovered around 52,920 levels, down 120 points and Nifty gave up the 15,850 level

Thursday, July 8, 2021

The Indian benchmark indices edged lower in morning deals today(8th July 2021), ahead of the weekly options expiry. The S&P BSE Sensex hovered around 52,920 levels, down 120 points and the broader Nifty50 index gave up the 15,850 level. Hindustan Unilever, Sun Pharma, and Nestle India were the top Sensex drags. The Nifty sectoral indices were mixed, with the Nifty IT index, up 0.5 percent, leading the gainers. Read more

MARKET UPDATE: Sensex hovered around 52,800 levels, down 60 points and Nifty slipped below the 15,800-mark

MARKET UPDATE: Sensex hovered around 52,800 levels, down 60 points and Nifty slipped below the 15,800-mark

Wednesday, July 7, 2021

The Indian benchmark indices traded flat with a negative bias in early deals today(7th July 2021), amid weak global cues. The S&P BSE Sensex hovered around 52,800 levels, down 60 points and the broader Nifty50 index slipped below the 15,800-mark. Titan fell over 1 percent and was the top Sensex laggard post Q1 update. Mahindra & Mahindra and IndusInd Bank were the other top laggards. All the Nifty sectoral indices, barring the Nifty Realty index, traded in the red, with the Nifty Auto index, down 0.6 percent, blee. ding the most. Read more

MARKET UPDATE: Sensex traded 60 points up at 52,940 levels and Nifty holding the 15,800-mark

MARKET UPDATE: Sensex traded 60 points up at 52,940 levels and Nifty holding the 15,800-mark

Tuesday, July 6, 2021

The benchmark indices in Indian markets traded flat with a positive bias in morning deals today(6th July 2021). The S&P BSE Sensex traded 60 points up at 52,940 levels and the Nifty50 index was holding the 15,800-mark. HDFC Bank, Maruti Suzuki, and Bajaj Finance were the top Sensex gainers. The Nifty sectoral indices traded mixed, with the Nifty Realty index, up 0.55 percent, leading the gainers. The S&P BSE MidCap and SmallCap indices traded 0.23 percent and 0.47 percent higher in the broader markets, respectively. Shares of cement companies were in focus on the bourses today in an otherwise subdued market with Ambuja Cement (up 6 percent to Rs 360) and JK Lakshmi Cement (up 4 percent at Rs 622.50) hitting their respective record highs on the expectation of the profitability of the sector companies remaining intact despite cost rise.

MARKET UPDATE: Sensex up 310 points at 52,800 and Nifty traded above the 15,800-mark;All Nifty sectoral indices traded in green

MARKET UPDATE: Sensex up 310 points at 52,800 and Nifty traded above the 15,800-mark;All Nifty sectoral indices traded in green

Monday, July 5, 2021

The benchmark indices in Indian markets rose half a percent in morning deals today(5th July 2021), tracking firm cues from other Asian markets. The S&P BSE Sensex was up 310 points, or 0.6 percent, at 52,800, and the broader Nifty50 index traded above the 15,800-mark. Bajaj Auto, TCS, and PowerGrid were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by Nifty Realty and Nifty Auto indexes, both up 0.6 percent. The S&P BSE MidCap and SmallCap indices rose 0.3 percent and 0.6 percent in the broader markets, respectively.

Chris Wood launches India-dedicated equity portfolio

Chris Wood launches India-dedicated equity portfolio

Friday, July 2, 2021

In his Asia ex-Japan long-only portfolio, Christopher Wood, global head of equity strategy at Jefferies has launched India long-only equity portfolio with 16 stocks, which include marquee stocks such as ICICI Bank, HDFC, Bajaj Finance, Reliance Industries (RIL), ONGC, Maruti Suzuki India, Tata Steel, and Jubilant FoodWorks. India always had a significant representation in GREED & fear’s long-only Asia ex-Japan portfolio, launched nearly 19 years ago at the end of the third quarter of 2002 (Q3-2002). The move comes despite the Indian equities nearing all-time high levels and rich valuations. Read more

MARKET UPDATE:Indices trade flat;Sensex hovered around 52,320 levels and Nifty below the 15,700-mark

MARKET UPDATE:Indices trade flat;Sensex hovered around 52,320 levels and Nifty below the 15,700-mark

Friday, July 2, 2021

The benchmark indices in India traded flat in early deals (2nd July 2021), despite favourable global cues. The S&P BSE Sensex hovered around 52,320 levels and the Nifty50 index was below the 15,700-mark. TCS, Infosys, and Tata Steel were the top Sensex laggards, while ICICI Bank and Reliance Industries gained the most. The Nifty sectoral indices traded mixed, with the Nifty Realty index, up 0.9 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index rose half a percent.

MARKET UPDATE:Volatile market;Sensex traded around 52,480 levels, and Nifty hovered near the 15,750-mark

MARKET UPDATE:Volatile market;Sensex traded around 52,480 levels, and Nifty hovered near the 15,750-mark

Thursday, July 1, 2021

The benchmark indices in India fluctuated between gains and losses in early deals today(1st July 2021), amid mixed cues from other Asian markets. The S&P BSE Sensex traded around 52,480 levels, and the broader Nifty50 index hovered near the 15,750-mark. IndusInd Bank, Infosys, and Ultratech Cement were the top Sensex laggard. On the other hand, Mahindra & Mahindra, Bajaj Auto, and Asian Paints were the top Sensex gainers. The Nifty sectoral indices were largely in the green, led by the Nifty Auto index, up 0.8 percent. In the broader markets, the S&P BSE MidCap index traded flat, while the SmallCap index ticked up 0.2 percent.

MARKET UPDATE:Sensex gained 100 points at 52,650 levels and Nifty topped the 15,750-mark

MARKET UPDATE:Sensex gained 100 points at 52,650 levels and Nifty topped the 15,750-mark

Wednesday, June 30, 2021

The benchmark indices in India edged up in early deals today(3othJune 2021), amid largely positive cues from other Asian markets. The S&P BSE Sensex gained 100 points at 52,650 levels and the broader Nifty50 index topped the 15,750-mark. Maruti Suzuki, Titan, and Tata Steel were the top Sensex gainers. All the Nifty sectoral indices, barring Nifty Realty, traded in the green, led by the Nifty Metal index, up 0.75 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.2 percent and 0.5 percent higher, respectively. More than 900 companies including SpiceJet, Vodafone Idea, Dish TV India, IRCON International, and Sadbhav Engineering are scheduled to release their quarterly earnings today. Read more

FDI in India is to pick up going ahead on the back of a strong rebound in growth

FDI in India is to pick up going ahead on the back of a strong rebound in growth

Tuesday, June 29, 2021

After a March 2020 low, the valuation of Indian stock market has become a concern now, HSBC said in their Asian outlook conference for the second half of 2021. It expects foreign direct investment (FDI) to pick up pace going ahead as the economic recovery gathers steam. “FDI in India is likely to pick up going ahead on the back of a strong rebound in growth. Any pullback in FDI, I think, will only be temporary. The government’s latest stimulus measures announced Monday are marginally positive. However, relative to the economic dislocation seen in India, the package is not very large. Most emerging markets (EMs) witnessed healthy flows for the most part of FY21 as global central banks, especially the US Federal Reserve (US Fed), remained ‘accommodative’ and pushed liquidity to help revive economic growth. Read more

S&P Global cuts India's growth forecast to 9.5% from 11%

S&P Global cuts India's growth forecast to 9.5% from 11%

Tuesday, June 29, 2021

S&P Global cut its growth forecasts for some of Asia's top economies including India, the Philippines, and Malaysia on Monday, offsetting upgrades to China and South Africa, and much of Latin America. The estimates, which feed into S&P's closely-followed sovereign ratings, saw India's growth projection cut to 9.5% from 11% due to its COVID-19 outbreak, the Philippines' lowered to 6% from 7.9% and Malaysia's downgraded to 4.1% from 6.2%.In contrast, China's forecast was surged up to 8.3% from 8%, Brazil's was upgraded to 4.7% from 3.4%, Mexico's to 5.8% from 4.9% while those of South Africa, Poland, and Russia were lifted to 4.2%, 4.5%, and 3.7%, respectively, from 3.6%, 3.4%, and 3.3%. "The top risk facing emerging market economies (EMs) is a slower-than-expected rollout of the vaccines," S&P's economists said in a news report, adding that the pandemic would only subside once vaccinations "reach a level consistent with herd immunity". Read more

MARKET UPDATE:Sensex hovered around 52,750 levels and Nifty fell below the 15,850-mark

MARKET UPDATE:Sensex hovered around 52,750 levels and Nifty fell below the 15,850-mark

Tuesday, June 29, 2021

The Indian benchmark indices traded flat in early deals today(29th June 2021), amid largely weak cues from other Asian markets. The S&P BSE Sensex hovered around 52,750 levels and the Nifty50 index fell below the 15,850-mark. Asian Paints, Reliance Industries, and Larsen & Toubro were the top Sensex gainers. On the other hand, HDFC Bank and Kotak Mahindra Bank were the top laggards. The Nifty sectoral indices were mixed, with Nifty Private bank, down 0.4 percent, taking the deepest cuts. The broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.37 percent and 0.47 percent higher, respectively. IRCTC, Ruchi Soya, Cochin Minerals & Rutile, DCM, Omaxe and Sintex Industries are among the list of companies that will announce their quarterly earnings today.

MARKET UPDATE:Sensex traded flat around the 53,000-mark and Nifty topped the 15,900-mark

MARKET UPDATE:Sensex traded flat around the 53,000-mark and Nifty topped the 15,900-mark

Monday, June 28, 2021

The markets in India traded flat with a positive bias in early deals today (28th June 2021)amid cautious trade in Asian markets. The S&P BSE Sensex traded around the 53,000-mark and the Nifty50 index topped the 15,900-mark. Dr. Reddy's, NTPC, and Asian Paints were the top Sensex gainers, while Titan and TCS were the top drags. Majority of the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.8 percent. The S&P BSE MidCap and SmallCap indices were up 0.1 percent and 0.4 percent in the broader markets, respectively. Dodla Dairy and Krishna Institute of Medical Sciences will list on the bourses today The two IPOs that ran between June 16-18 were subscribed 46 times and 4 times, respectively. Around 300 companies are slated to post their quarterly numbers today including NALCO, Future Lifestyle, Zee Media, GIC Housing Finance, and NLC India. Read more

Can PSU banks offer good returns even after a stellar rally?

Can PSU banks offer good returns even after a stellar rally?

Saturday, June 26, 2021

Stocks of the public banks have been on a gradual upward trend during the month of June. Privatisation buzz, strong earnings, and fund-raising plans have lent confidence to investors which resulted in buying in these names. The stocks did see some weakness recently but the positive sentiment remains intact. Union Bank shares have gained over 12 percent so far in June while UCO Bank has surged 5 percent. Notably, Union Bank said on Thursday (24th June 2021), it has raised Rs 850 crore while UCO Bank has received Board's nod to raise up to Rs 500 crore. Meanwhile, other stocks in the PSU bank basket-like Central Bank of India and Indian Overseas Bank have seen a sharp rise on the news of divestment plans. Read more

Accenture Q3FY21 earnings: Indian IT firms may surprise D-St in Q1 earnings season

Accenture Q3FY21 earnings: Indian IT firms may surprise D-St in Q1 earnings season

Friday, June 25, 2021

Accenture reported a 21 percent growth in revenues at $13.26 billion for the quarter ended May 31, beating its own guidance of $12.55 billion-$12.95 billion in revenues. The performance and revenue guidance of Accenture is typically seen as a barometer for the performance of Indian technology companies. While the Nifty IT index was trading over half a percent higher in early deals today, most stocks, barring Wipro, gained up to 2 percent. Shares of TCS, Infosys, Tech Mahindra, Mindtree, and Coforge even logged fresh 52-week highs. Analysts at Edelweiss Research said, a strong operational performance by Accenture during Q3FY21 in its outsourcing vertical sets the tone for an upcoming earnings season for the Indian IT service companies. "We reiterate that a robust tech upcycle or 'techolution' is in its starting phase and may continue for 4–5 years," they added. Read more

MARKET UPDATE:Sensex up 84 points at 52,780 levels and Nifty hovered around the 15,830-zone

MARKET UPDATE:Sensex up 84 points at 52,780 levels and Nifty hovered around the 15,830-zone

Friday, June 25, 2021

The benchmark indices in India traded flat with a positive bias today(25th June 2021), although heavyweight Reliance Industries being the top drag. The S&P BSE Sensex was up 84 points at 52,780 levels and the Nifty50 index hovered around the 15,830-zone. Tata Steel, Tech Mahindra, and HCL Tech were the top Sensex gainers, while Reliance Industries (down 2%) was the top laggard. The majority of the Nifty sectoral indices traded in the green, led by Nifty Metal, were up 1.9 percent. One hundred and ninety-two companies, including Antony Waste Handling Cell, Finolex Industries, Indraprastha Gas, JSW Energy, and RailTel Corporation of India, are scheduled to release quarterly earnings today.

Bull run will last for very long time:Rakesh Jhunjhunwala

Bull run will last for very long time:Rakesh Jhunjhunwala

Thursday, June 24, 2021

According to billionaire investor Rakesh Jhunjhunwala, annual equity returns from Indian stocks will be about five percentage points on top of the economic growth of 7%-10% in the coming years. Jhunjhunwala is counting on the nation’s potential for long-term growth and political stability to fuel further gains in the $3 trillion stock market that’s already been hitting record after record this year. His bets range from banks and health insurance -which he says will be boosted by the pandemic - to a broad consumer rally on the back of Prime Minister Narendra Modi’s policies to give every Indian home and access to clean water. “We are in the middle of a bull phase which will last for a very, very long time,” Jhunjhunwala said in an interview earlier this month. “India will also look lucrative when the U.S. Federal Reserve begins to withdraw stimulus, but there will be short-term disruptions.”

MARKET UPDATE:Sensex up 250 points at 52,560 levels and Nifty topped the 15,750-mark

MARKET UPDATE:Sensex up 250 points at 52,560 levels and Nifty topped the 15,750-mark

Thursday, June 24, 2021

The Indian benchmark indices traded nearly half a percent higher in early deals today (24th June 2021) ahead of 44th Reliance Industries AGM and the monthly F&O expiry. The S&P BSE Sensex was up 250 points, or 0.5 percent, at 52,560 levels and the Nifty50 index topped the 15,750-mark. TCS, Infosys, and Tata Steel were the top Sensex gainers, while Bajaj Auto and NTPC were the top laggards. Majority of the Nifty sectoral indices traded in the green, led by the Nifty IT index, up 0.9 percent. The S&P BSE MidCap index was flat in the broader markets while the SmallCap index ticked up 0.3 percent. The shares of Shyam Metalics and Sona Comstar are slated to list on the bourses today. A strong debut is on the cards for Shyam Metalics while Sona Comstar is likely to witness a muted listing, suggest grey market trends. Read more

Indian benchmark indices snapped their three-day winning streak as investors booked profits

Indian benchmark indices snapped their three-day winning streak as investors booked profits

Wednesday, June 23, 2021

Benchmark indices snapped their three-day winning streak and ended half a percent lower today(23rd June 2021) as investors booked profits at higher levels. Besides, a cut in India's CY21 growth forecast by Moody's further dampened the sentiment on the Street. Barring the auto segment, all other sectoral indices settled the session in the red with the Nifty Metal (1 percent) and IT (0.87 percent) indices nursing the steepest losses. Overall, the S&P BSE Sensex index closed at 52,306 levels, down 282.6 points or 0.54 percent while the Nifty50 index ended at 15,687 levels, down 86 points or 0.54 percent. Maruti Suzuki, Titan Company, Bajaj Finserv, M&M, Ultratech Cement, Hero MotoCorp, and ONGC were the top gainers in the large-cap space while Adani Ports, Wipro, JSW Steel, Divis Labs, Shree Cement, L&T, Kotak Bank, and TCS were the top laggards. Read more

MARKET UPDATE:Sensex hovered around 52,680 levels, up 90 points and Nifty topped the 15,800-mark

MARKET UPDATE:Sensex hovered around 52,680 levels, up 90 points and Nifty topped the 15,800-mark

Wednesday, June 23, 2021

The benchmark indices in India traded flat with a positive bias in morning deals today(23rd June 2021)after a volatile start to the session. The S&P BSE Sensex hovered around 52,680 levels, up 90 points, or 0.17 percent, and the broader Nifty50 index topped the 15,800-mark. IndusInd Bank and Tata Steel were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 0.8 percent. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index ticked up 0.2 percent. Sixty-four companies, including Apollo Hospitals Enterprise, Mcleod Russel India, Allcargo Logistics, and HCC are scheduled to release their quarterly earnings today. Read more

Indian firms' market capitalisation grew at the fastest pace last year:SBI

Indian firms' market capitalisation grew at the fastest pace last year:SBI

Tuesday, June 22, 2021

Last year Indian companies' market capitalization has grown at the fastest pace among major economies in spite of contraction in GDP, according to economists from SBI. Further, retail investors have shown higher interest in markets and their numbers have increased by 1.42 crore in FY21 and another 44 lakh in April and May, they said in a note, wondering if this will be a lasting behavioral change or is transitory. The economists at SBI attributed the growth in equity markets to lower returns on other financial instruments amid a low rates regime, increase in global liquidity, and even a tendency to spend more time at home because of mobility restrictions which led many to trade more. The 30-share benchmark index BSE has rallied from 28,000 points in early April 2020, to over 52,000 points at present. Read more

MARKET UPDATE:Sensex was up 360 points at 52,930 levels and Nifty testing the 15,850-mark

MARKET UPDATE:Sensex was up 360 points at 52,930 levels and Nifty testing the 15,850-mark

Tuesday, June 22, 2021

The benchmark indices in India rose over half a percent in early deals today(22nd June 2021), amid favourable cues from other global markets. The S&P BSE Sensex was up 360 points, or 0.69 percent, at 52,930 levels and the Nifty50 index was testing the 15,850-mark. Maruti Suzuki rose 2 percent and was the top Sensex gainer, followed by IndusInd Bank, Titan, ICICI Bank, and State Bank of India (all up over 1%). The Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 1.9 percent. The broader markets, meanwhile, outran their benchmark peers. The S&P BSE MidCap and SmallCap indices traded 0.9 percent and 1.2 percent higher, respectively. Seventy-nine companies, including NMDC, Aster DM Healthcare, Bharat Electronics, and Jaypee Infratech are scheduled to release their quarterly earnings today.

These stocks show positive momentum

These stocks show positive momentum

Monday, June 21, 2021

Taking cues from global markets, the Indian benchmark indices have declined over 2 percent from recent peaks while the Nifty Bank index has tumbled over 5.50 percent from its peak. Today(21st June 2021), the Indian benchmark indices clawed their way out of the early lows but were still trading half a percent down. The weakness, however, can be seen as an opportunity by investors as major medium-term supports are not broken, technical charts suggest. Here are some stocks showing positive momentum. Read more

MARKET UPDATE:Sensex slid 350 points to 51,960 levels and Nifty around the 15,550-mark

MARKET UPDATE:Sensex slid 350 points to 51,960 levels and Nifty around the 15,550-mark

Monday, June 21, 2021

The benchmark indices in India fell over half a percent in early deals today(21st June 2021), tracking weak cues from other Asian markets. The S&P BSE Sensex slid 350 points, or 0.68 percent, to 51,960 levels and the broader Nifty50 index was around the 15,550-mark. ICICI Bank fell 2 percent and was the top Sensex laggard, followed by Mahindra & Mahindra, State Bank of India, and IndusInd Bank (all down over 1%). The Nifty sectoral indices were painted red, with Nifty Metal and Nifty PSU Bank indexes, down 2 percent each, bleeding the most. The S&P BSE MidCap and SmallCap indices traded 0.9 percent and 0.7 percent down in the broader markets, respectively. Seventy companies, including Oil India, Info Edge, Bharat Dynamics, TCNS Clothing, and VST Tillers Tractors, are slated to post their quarterly numbers.

What next week

What next week

Friday, June 18, 2021

Next week with no major event, global cues will continue to dictate the c experts feel. On the domestic front, the progress of the monsoon and updates on the vaccination drive will be closely watched. Indications are in the favor of further consolidation in the index but the bias would remain on the positive side till Nifty holds above 15,400. Meanwhile, participants should maintain their focus on the selection of stocks and use dips to gradually accumulate the fundamentally sound counters.

RIL, HUL, Airtel help indices log V-shaped recovery

RIL, HUL, Airtel help indices log V-shaped recovery

Friday, June 18, 2021

In today's(18th June 2021) intra-day session Indian benchmark equity indices slumped over 1 percent but made a sharp V-shaped recovery to end the day with little change. Financials and metals exerted pressure on the bourses, even as gains in Reliance Industries, FMCG, and select private bank stocks tried to limit the losses. The S&P BSE Sensex fell 722 points intra-day but recovered to close 21 points, or 0.04 percent, higher at 52,344 levels. The broader Nifty50 index, meanwhile, bounced back from the day's low of 15,451 to end at 15,683 levels, down 8 points or 0.05 percent. The correction was deeper in the broader markets where the BSE MidCap and SmallCap indices closed 0.70 percent and 0.89 percent down, respectively. Read more

MARKET UPDATE:Sensex traded around 52,390, up 70 points and Nifty holding the 15,700-mark

MARKET UPDATE:Sensex traded around 52,390, up 70 points and Nifty holding the 15,700-mark

Friday, June 18, 2021

The benchmark indices in India edged up in early deals today(18th June 2021), but off the day's high, amid mixed global cues. The S&P BSE Sensex traded around 52,390, up 70 points and the broader Nifty50 index was holding the 15,700-mark. Bajaj Finserv and Sun Pharma gained 1 percent, each, and were the top Sensex gainers. On the other hand, ONGC fell 2 percent. The Nifty sectoral indices traded mixed, with the Nifty IT index, up 0.8 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index fell 0.2 percent while the SmallCap index was up 0.25 percent. Fifty-two companies, including Ashoka Buildcon, GMR Infrastructure, Hinduja Global Solutions, Insecticides (India), and Welspun Specialty Solutions are set to release their quarterly earnings today. Read more

MARKET UPDATE:Sensex fell 210 points to 52,290 and Nifty traded below the 15,700-mark

MARKET UPDATE:Sensex fell 210 points to 52,290 and Nifty traded below the 15,700-mark

Thursday, June 17, 2021

In Indian markets, benchmark indices followed the losses in global markets and edged lower in early deals today(17th June 2021) amid the US Federal Reserve's indication that it could begin raising interest rates in 2023. The S&P BSE Sensex fell 210 points to 52,290 and the broader Nifty50 index traded below the 15,700-mark. HDFC Bank, HDFC, Axis Bank, and Kotak Mahindra Bank fell 1 percent, each, and were the top Sensex laggards. All the Nifty sectoral indices were trading in the red, with the Nifty Metal index, down 1.5 percent, bleeding the most. In the broader markets, the S&P BSE MidCap index fell 0.6 percent, while the SmallCap index was flat. Thirty-three companies, including Power Grid Corporation, Natco Pharma, Jammu & Kashmir Bank, DB Corp, and Khadim India are scheduled to release their quarterly earnings today. Read more

India’s best-performing stock funds have bet on companies that produces chemical substances

India’s best-performing stock funds have bet on companies that produces chemical substances

Wednesday, June 16, 2021

For three funds that have delivered the biggest returns, this year Chemicals producers make up at least 14% of the portfolio according to the data available. Those bets have paid off thanks to the rising global appetite for specialty chemicals in industries such as automobiles and cosmetics amid a recovery from the pandemic. India is emerging as a hub for specialty chemicals, helped by favorable policy measures that include decisions such as imposing anti-dumping duty on some imports and a proposal for production-linked incentives. Producers have also benefited from a ‘China-plus-one’ strategy that has made companies around the world diversify their supply chains from the Asian superpower amid geopolitical concerns. Read more

MARKET UPDATE:Sensex traded 100 points down at 52,690 levels and Nifty slipped below the 15,850-mark

MARKET UPDATE:Sensex traded 100 points down at 52,690 levels and Nifty slipped below the 15,850-mark

Wednesday, June 16, 2021

The Indian benchmark indices edged lower in early deals today(16th June 2021), amid weakness in financials and pharma stocks. The S&P BSE Sensex traded 100 points down at 52,690 levels and the broader Nifty50 index slipped below the 15,850-mark. The Nifty sectoral indices traded mixed, with gains in the Nifty FMCG index, up 0.35 percent, being offset by the Nifty Bank index, down 0.3 percent. Thirty-two companies, including RITES, CESC, Welspun Enterprises, Commercial Syn Bags, DIC India, and Kakatiya Cement Sugar are set to release their quarterly earnings today. Read more

Financial wealth in India jumps 11% to $3.4 trillion in pandemic year

Financial wealth in India jumps 11% to $3.4 trillion in pandemic year

Tuesday, June 15, 2021

Financial wealth is the total wealth excluding real assets and liabilities held by adult individuals. Financial wealth in India grew 11 percent to USD 3.4 trillion in 2020 despite the coronavirus pandemic, according to a global consultancy estimation published today(15th June 2021). The 11 percent growth in financial wealth was at par with the compounded annual growth rate for the five years to 2020, the report said. It can be noted that after a sharp correction in the early days of the pandemic, there has been a continuing rally in stocks since April last year, which has led to concerns being expressed across quarters. Concerns are also being expressed about a greater disparity in incomes and the pandemic widening the divide. The report noted that the next few years will also see a faster expansion in financial wealth, but the rate of expansion will slow down marginally to 10 percent per annum to take the number to USD 5.5 trillion by 2025. Read more

MARKET UPDATE:Sensex rose 270 points at 52,820 levels and Nifty topped the 15,850-mark

MARKET UPDATE:Sensex rose 270 points at 52,820 levels and Nifty topped the 15,850-mark

Tuesday, June 15, 2021

The benchmark indices in India logged fresh lifetime highs in early deals today(15th June 2021), on the back of across-the-board buying. The S&P BSE Sensex rose 270 points, or 0.48 percent, at 52,820 levels and the broader Nifty50 index topped the 15,850-mark. IndusInd Bank and Asian Paints ticked up 1 percent and were the top Sensex gainers. All the Nifty sectoral indices, except Nifty Pharma, traded in the green, led by the Nifty Private Bank index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.44 percent and 0.63 percent, respectively. Forty-five companies, including Jubilant FoodWorks, Power Finance Corporation, LIC Housing Finance, and Easy Trip Planners are set to release their quarterly earnings today.

Indian banks proved the doomsday predictions wrong in a pandemic year

Indian banks proved the doomsday predictions wrong in a pandemic year

Monday, June 14, 2021

When the Covid-19 pandemic broke out in March last year and a nationwide lockdown was imposed to restrict its spread, there were concerns all around over its impact on the banking sector. Bad loans were stabilising after a relentless rise for several years and there was a ray of hope for the banking sector after a long time with non-performing assets have crossed the hump. Then the Covid-19 pandemic broke out crippling economic activity due to the lockdown and fears of asset quality problems resurfaced. The Reserve Bank of India (RBI) too, raised a red flag about the possible ballooning of bad loans. Stress tests by RBI projected gross non-performing assets of the Indian banks to shoot up to 13.5% by September 2021 as compared to 7.5% in September 2020 – under a baseline scenario. The situation was predicted to worsen under a severe stress scenario. Read more

MARKET UPDATE:Sensex dipped 230 points and hovered around the 52,240-mark and Nifty hovered below the 15,750-mark

MARKET UPDATE:Sensex dipped 230 points and hovered around the 52,240-mark and Nifty hovered below the 15,750-mark

Monday, June 14, 2021

The markets in India traded lower, but off the day's bottom, in morning deals today(14th June 2021), amid a weak trend in metals and public sector banks. The S&P BSE Sensex dipped 230 points, down 0.4 percent, and hovered around the 52,240-mark. The index fell to as low as 51,936 in intra-day deals. Meanwhile, the broader Nifty50 hovered below the 15,750-mark. Bajaj Finance fell 2 percent and was the top Sensex laggard, followed by NTPC, Dr. Reddy's, Bharti Airtel, and State Bank of India (all down 1%). Among other individual stocks, Adani Group stocks (Adani Enterprises, Adani Power, Adani Ports, Adani Transmission) hit their respective lower circuits on a report that the NSDL has frozen the accounts of three foreign funds — Albula Investment Fund, Cresta Fund, and APMS Investment Fund — which together own over Rs 43,500 crore worth of shares in four Adani Group companies. Read more

Nomura ups India's 2022 GDP forecast to 7.7%

Nomura ups India's 2022 GDP forecast to 7.7%

Friday, June 11, 2021

Nomura has raised India’s gross domestic product (GDP) forecast for 2022 by 0.7 percentage points (pp) to 7.7 percent in spite of the second wave of Covid infections that brought the economic activity in most cities to a standstill in the past few months. The research and brokerage house has rejigged the forecasts for consumer price inflation (CPI) and current account deficit. “We raise our 2021 and 2022 current account (CA) deficit forecasts to 1.5 percent and 1.3 percent of GDP, respectively (from 1.1 percent and 0.8 percent), and CPI inflation to 5 percent and 5.3 percent (from 4.9 percent in both years). We also pencil-in an additional 25bp repo rate hike in Q3 2022,” according to a note of Nomura. The first flush of growth indicators for May, according to Nomura, suggest a significant hit to consumption and services, with the manufacturing and export sectors being more resilient. The overall impact, Varma and Nandi said, is turning out to be less than during the first wave Read more

MARKET UPDATE:Sensex up 250 points, at 52,550 levels and Nifty topped the 15,800-mark

MARKET UPDATE:Sensex up 250 points, at 52,550 levels and Nifty topped the 15,800-mark

Friday, June 11, 2021

The markets in India made a strong start to today's(11th June 2021) session, with the benchmark indices logging fresh record highs in the early deals. The S&P BSE Sensex was up 250 points, or 0.48 percent, at 52,550 levels and the Nifty50 index topped the 15,800-mark. PowerGrid (up 2%) was the top Sensex gainer, followed by Reliance Industries and ONGC trading 1 percent, each. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 1.5 percent. The S&P BSE MidCap and SmallCap indices traded 0.6 percent and 0.8 percent higher in the broader markets, respectively. Fifty-seven companies, including BEML, BHEL, CG Power, Cochin Shipyard, DLF, and Sun TV are scheduled to announce their March quarter results today.

Bata India surges 6% despite poor Q4 numbers

Bata India surges 6% despite poor Q4 numbers

Thursday, June 10, 2021

Shares of Bata India surged 6 percent to Rs 1,657.50 on the BSE in intra-day trade on Thursday despite the company reporting a poor set of numbers in the quarter ended March 2021. The Company expects that it would be able to revive its revenue growth trajectory as and when the impact of the Covid-19 phases out. The stock of the footwear company was trading close to its 52-week high level of Rs 1,705 touched on January 11, 2021. According to a regulatory filing by the company to the stock exchanges, Bata India reported a net profit of ₹ 29.47 crores on a consolidated basis in the March quarter of fiscal 2020-21. The country's largest shoemaker's net profit declined 23.3 percent in the March quarter of fiscal 2021. It reported a net profit of ₹ 38.40 crores in the corresponding quarter of the previous fiscal year. The company's revenue from operations was down to ₹ 589.90 crores in the fourth quarter, compared to ₹ 620.57 crores in the same quarter of the previous fiscal. Read more

MARKET UPDATE:Sensex up 160 points at 52,100 levels and Nifty hovered around the 15,700-mark

MARKET UPDATE:Sensex up 160 points at 52,100 levels and Nifty hovered around the 15,700-mark

Thursday, June 10, 2021

The benchmark indices in India were trading nearly half a percent in early deals today(10th June 2021), amid favorable cues from other Asian markets. The S&P BSE Sensex was up 160 points at 52,100 levels and the Nifty50 index hovered around the 15,700-mark. PowerGrid, Tech Mahindra, IndusInd Bank, and Bajaj Finance rose 1 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices, except Nifty FMCG, traded in the green, led by the Nifty Metal index, up 1.3 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 0.85 percent and 1.32 percent higher, respectively. Sixty-four companies, including Century Plyboards, Mazagon Dock Shipbuilders, NHPC, and SAIL, are scheduled to announce their quarterly earnings today.

MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points

MARKET UPDATE:Sensex at 52,275 levels, down 53 points and Nifty at 15,740-mark, down 11.5 points

Wednesday, June 9, 2021

Indian Benchmark indices traded range-bound around flat line today(9th June 2021). However, broader markets scaled fresh record peaks as stock-specific action dominated the equity markets today. The BSE-barometer of 30 shares ended at 52,275 levels, down 53 points or 0.10 percent while the Nifty50 shut shop at 15,740-mark, down 11.5 points or 0.07 percent. Tata Motors, Tech M, Bharti Airtel, Indian Oil Corporation, HCL Tech, and Infosys were the top gainers on the indices. Hindalco, Tata Steel, JSW Steel, Kotak Bank, HDFC, and SBI, meanwhile, were the top laggards. In the broader market space, the BSE MidCap index hit a record peak for the fifth consecutive day, at 22,822.6 levels, and ended the day at 22,769.5 levels, up 0.36 percent. The SmallCap counterpart, on the other hand, closed 0.9 percent higher at 24,827 levels after hitting a new peak of 24,868 earlier today. Read more

MARKET UPDATE:Sensex fell 110 points at 52,210 levels and Nifty slipped below the 15,750-mark

MARKET UPDATE:Sensex fell 110 points at 52,210 levels and Nifty slipped below the 15,750-mark

Tuesday, June 8, 2021

The markets in India slid in morning deals today(8th June 2021), dragged mainly by metals and banks. The S&P BSE Sensex fell 110 points at 52,210 levels and the Nifty50 index slipped below the 15,750-mark. Tech Mahindra, NTPC, Bajaj Finance, and HCL Tech rose 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were largely in the red, with the Nifty Metal index, down 2 percent, bleeding the most. Meanwhile, the Nifty IT index was up 1 percent. The broader markets, meanwhile, outran their benchmark indexes, with the S&P BSE MidCap and SmallCap indices trading 0.5 percent and 0.6 percent higher, respectively. Forty-six companies including Engineers India, Petronet LNG, Max Financial Services, and Suven Pharmaceuticals are scheduled to release their quarterly earnings today.

Central Bank of India, IOB could be privatised in current fiscal

Central Bank of India, IOB could be privatised in current fiscal

Monday, June 7, 2021

Two state-run banks shortlisted by the NITI Aayog-Central Bank of India and Indian Overseas Bank (IOB)-may be privatised by the Centre, according to the sources. The report further added that the Bank of India could be a potential candidate for privatisation too. NITI Aayog had submitted the names of the two state-run banks and one general insurer to the committee of secretaries on disinvestment. The announcement regarding the privatisation of these banks was made in the Union Budget of 2021-22. The proposal is being vetted by DIPAM and the department of financial services, according to the sources. The Centre has budgeted a target of Rs 1.75 lakh crore from stake sale in the current fiscal. It also aims to conclude the privatisation of Air India, BPCL, and Shipping Corporation the process for which has already started in the current fiscal.

MARKET UPDATE:Sensex hovered around 52,160 levels and Nifty near the 15,700-mark

MARKET UPDATE:Sensex hovered around 52,160 levels and Nifty near the 15,700-mark

Monday, June 7, 2021

The markets in India fluctuated between gains and losses in early deals today(7th June 2021), amid positive global cues. The S&P BSE Sensex hovered around 52,160 levels and the Nifty50 index near the 15,700-mark. Bajaj Finance fell over 3 per cent and was the top Sensex laggard, followed by Bajaj Finserv (down 2%). On the other hand, ONGC ticked up over 1 per cent. All the Nifty sectoral indices, except Nifty Financial Services, were painted green, led by Nifty PSU Bank index, up 1 per cent. Thirty-one companies which includ Union Bank of India, Central Bank of India, Mrs Bectors Food Specialities, Jubilant Ingrevia and MRF are slated to post their quarterly numbers today.

MARKET UPDATE:Sensex up 120 points and hovered around 52,350 levels; Nifty topped the 15,700-mark

MARKET UPDATE:Sensex up 120 points and hovered around 52,350 levels; Nifty topped the 15,700-mark

Friday, June 4, 2021

The markets in India ticked up in morning deals today(4th June 2021) after the Reserve Bank of India (RBI) maintained the status quo and left the repo rate unchanged at 4 percent, with an accommodative stance. The S&P BSE Sensex hovered around 52,350 levels, up 120 points, and the Nifty50 index topped the 15,700-mark. ONGC gained 2 percent and was the top Sensex gainer, followed by Larsen & Toubro and Mahindra & Mahindra (both up 1%).

RBI's Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

RBI's Monetary Policy Committee expected to hold rates and continue with an accommodative stance to encourage growth

Thursday, June 3, 2021

The RBI is expected tomorrow(4th June 2021) to hold interest rates after a three-day meeting of its Monetary Policy Committee (MPC). The policy will likely maintain an accommodative stance, as helping economic growth remains a priority. Here are key decisions to look at from the review meeting: The market will look out for RBI’s GDP growth forecast for the financial year. In the last policy review meeting of April, GDP growth for the current financial year was projected at 10.5%. For the first quarter, it was projected at 26.2%. The prediction was before the second wave of the coronavirus pandemic that has hurt economic activity due to lockdowns by state governments. Most economists and rating agencies have trimmed their forecasts following the second wave. Many see GDP growth for FY22 in single-digit now, as compared to double-digit predictions made before the second wave. Read more

MARKET UPDATE:Sensex gained 320 points at 52,170 levels, and Nifty topped the 15,650-mark

MARKET UPDATE:Sensex gained 320 points at 52,170 levels, and Nifty topped the 15,650-mark

Thursday, June 3, 2021

The markets in India edged higher in early deals today(3rd June 2021), up half a percent, tracking similar cues from other Asian markets. The S&P BSE Sensex gained 320 points at 52,170 levels, and the Nifty50 index topped the 15,650-mark. Titan rose 4 percent and was the top Sensex gainer, followed by Reliance Industries (up 2%). The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indexes ruled 0.7 percent and 0.9 percent higher, respectively. Twenty-nine companies, including GSPL, Arvind Fashions, and APL Apollo Tubes, are slated to announce their quarterly results today.

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses

Wednesday, June 2, 2021

Fag-end buying in Reliance Industries, auto, and metal counters helped Indian benchmark indices erase most of the day's losses and helped them end nearly flat for the second straight day. Moreover, a surge in Brent Crude price, which was hovering around $71 per barrel, exerted pressure on the bourses. The frontline S&P BSE Sensex ended at 51,849 levels, down 85 points or 0.16 percent, with ITC (down 3 percent), Asian Paints, HDFC, Axis Bank, Tech M, HCL Tech, and TCS leading the list of losers. This was countered by gains in IndusInd Bank, Reliance Industries, SBI, Power Grid, Bajaj Auto, and Maruti Suzuki, which rallied up to 2 percent. On the NSE, the Nifty50 index settled at 15,576 levels, up 1 point. Both the indices hit their respective lows of 51,450 and 15,460 earlier in the day. The BSE MidCap index, which hit a record peak of 22,164 earlier today, closed 1.7 percent higher at 22,141 levels. Read more

MARKET UPDATE:Sensex down by 320 points at 51,600 levels and Nifty traded around the 15,550-mark

MARKET UPDATE:Sensex down by 320 points at 51,600 levels and Nifty traded around the 15,550-mark

Wednesday, June 2, 2021

The benchmark indices in India slid over half a percent in early deals (today 2nd June 2021), amid mixed global cues. The S&P BSE Sensex fell 320 points, or 0.64 percent, at 51,600 levels and the Nifty50 index traded around the 15,550-mark. Tech Mahindra and ITC fell 2 percent, each, and were the top Sensex laggards. The Nifty sectoral indices were mixed, with the Nifty Metal index, up 1 percent, leading the gainers. The broader markets, meanwhile, outran their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.7 percent and 0.6 percent higher, respectively. Twenty-three companies, including Motherson Sumi Systems, MTAR Technologies, Muthoot Finance, and PVR are scheduled to release their quarterly earnings today.

MARKET UPDATE:Sensex traded around 51,970, up 30 points and Nifty fell below the 15,600-mark

MARKET UPDATE:Sensex traded around 51,970, up 30 points and Nifty fell below the 15,600-mark

Tuesday, June 1, 2021

The markets in India traded flat in morning deals today's(1st June 2021) volatile session, with gains in auto stocks being offset by losses in metals. The S&P BSE Sensex traded around 51,970, up 30 points and the broader Nifty50 index fell below the 15,600-mark. Bajaj Auto (up 2%) was the top Sensex gainer, followed by HDFC, Bajaj Finance, IndusInd Bank, and State Bank of India (all up 1%). The Nifty sectoral indices were mixed, with the Nifty Auto index, up over 1 percent. leading the gainers. Seventeen companies, including ITC, Balrampur Chini Mills, Gujarat Gas, and Radico Khaitan are scheduled to release quarterly earnings today. Analysts expect ITC to post high single-digit revenue growth on a yearly basis during the quarter under review, although the profit after tax (PAT) is expected to fall.

Indian economy is on track to grow 10% in the year that began April 1st

Indian economy is on track to grow 10% in the year that began April 1st

Monday, May 31, 2021

The resilience of the Indian economy will be tested by its ability to overcome a devastating outbreak of Covid-19, although no one is yet doubting its potential to pull off the world’s fastest pace of growth among major economies this year. The economy is on track to grow 10% in the year that began April 1, according to the median of 12 estimates compiled by Bloomberg News. That’s after several economists downgraded their forecasts in recent weeks to factor in local curbs on activity, including in India’s political and commercial hubs. Economists say the relaxation of restrictions across states will determine the strength of the rebound, while the willingness of consumers to spend will also be key. Data likely to be released today(31st May 2021) will probably show gross domestic product grew 1% in the three months ended March, making it the second straight quarter of expansion since India exited a rare recession. Read more

MARKET UPDATE:Sensex up 330 points at 51,440 levels and the Nifty testing the 15,450-mark

MARKET UPDATE:Sensex up 330 points at 51,440 levels and the Nifty testing the 15,450-mark

Friday, May 28, 2021

The markets in India made a firm start to the June F&O series, with the benchmark indices trading over half a percent higher in morning deals today(28th May 2021) and the Nifty50 index scaling a fresh lifetime high. The S&P BSE Sensex traded 330 points, or 0.65 percent, higher at 51,440 levels and the Nifty50 index was testing the 15,450-mark after earlier surpassing the earlier record high of 15,431.75. ONGC, HDFC, HDFC Bank, and Reliance Industries rose 1 percent, each, and were the top Sensex gainers. In the broader markets, the S&P BSE MidCap and SmallCap indexes traded 0.27 percent and 0.44 percent higher, respectively. Ninty-six companies, including Mahindra & Mahindra, Glenmark Pharmaceuticals, Indian Bank, Ipca Laboratories, Aditya Birla Fashion and Retail, Dilip Buildcon, and Nazara Technologies, are scheduled to release quarterly earnings today.

MARKET UPDATE:Sensex hovered around 51,000 and Nifty gave up the 15,300 level

MARKET UPDATE:Sensex hovered around 51,000 and Nifty gave up the 15,300 level

Thursday, May 27, 2021

The markets in India traded little differently from yesterday's closing in early deals today(27th May 2021), ahead of the May series F&O expiry later in the day. The S&P BSE Sensex hovered around 51,000,the psychological level that the benchmark index reclaimed in the previous session. The broader Nifty50 index, meanwhile, gave up the 15,300 level. Tech Mahindra gained 1 percent and was the top Sensex gainers, followed by TCS (up 0.8 percent). On the other hand, Asian Paints, Bajaj Finserv, and IndusInd Bank fell 1 percent, each. The Nifty sectoral indices were mixed, with the nifty IT index, up 1.6 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices tracked their benchmark peers and also traded flat. Read more

MARKET UPDATE:Sensex hovered around 50,680 levels, up 40 points and Nifty holding above the 15,250-mark

MARKET UPDATE:Sensex hovered around 50,680 levels, up 40 points and Nifty holding above the 15,250-mark

Wednesday, May 26, 2021

The Indian benchmark indices traded flat with a positive bias in early deals today(26th May 2021) on the back of mixed global cues. The S&P BSE Sensex hovered around 50,680 levels, up 40 points and the Nifty50 was holding above the 15,250-mark. All the Nifty sectoral indices, except Nifty Metal index (down 1.5 per cent), traded in the green. Fifty-two companies including Berger Paints, BPCL, Burger King India, and Pfizer are slated to report their March quarter results today.

Range-bound trade ended flat as indecision weighed on investors' mind

Range-bound trade ended flat as indecision weighed on investors' mind

Tuesday, May 25, 2021

Today(25th May 2021)trade ended flat as indecision weighed on investors' minds. Tracking solid global cues, the domestic equity indices opened gap-up with the frontline S&P BSE Sensex and NSE's Nifty50 indices extending their gains to surge as high as 50,961 and 15,294 levels, respectively in the intra-day deals. However, profit-booking at higher levels and selling in financial counters put a lid on gains. During the day, the BSE barometer of 30 shares gyrated within a band of 490 points and eventually settled 14 points lower from previous day's closing at 50,637.5 levels. On the NSE, the Nifty50 defended the psychological level of 15,200 and shut shop at 15,208, up 11 points. Read more

Barclays pegs India's FY22 GDP growth at 7.7%

Barclays pegs India's FY22 GDP growth at 7.7%

Tuesday, May 25, 2021

Barclays, as measured by gross domestic product (GDP) has pegged India’s economic growth -for fiscal 2021-22 (FY22) – at 7.7 percent in the bear-case scenario, if the country is hit by the third wave of the Covid pandemic going ahead. The economic cost, it believes, could rise by at least a further $42.6 billion, assuming another round of similar stringent lockdowns is imposed across the country for eight weeks later this year. After factoring in recent developments, Barclays has pegged the economic cost of the latest shutdowns at $8 billion per week in May, up from $5.3 billion per week in the last two weeks of April, and well above the $3.5 billion a week estimated early in the second wave. “We believe these economic losses will remain steady at $8 billion a week through the month of May but expect them to ease from June,” Barclays said. Read more

Sensex up 150 points at 50,830 levels and Nifty testing the 15,300-mark

Sensex up 150 points at 50,830 levels and Nifty testing the 15,300-mark

Tuesday, May 25, 2021

The markets in India climbed off their early highs but were still trading in the green in morning deals today(25th May 2021). The S&P BSE Sensex was up 150 points at 50,830 levels, while the broader Nifty50 index was testing the 15,300-mark. ONGC, Titan, Mahindra & Mahindra, Nestle, and HDFC gained 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted mixed, with the gainers led by the Nifty Metal index, up 2 percent. The broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.6 percent and 0.7 percent higher, respectively. Sixty-eight companies, including Emami, VIP, Ajmera Realty & Infra India, Alkem Laboratories, and AstraZeneca Pharma India are set to announce their quarterly results today.

Banks in India report loan fraud worth Rs 5 trillion

Banks in India report loan fraud worth Rs 5 trillion

Monday, May 24, 2021

Banks operating in India reported fraud of Rs 4.92 trillion as of March 31, 2021, which represents nearly 4.5% of the total bank credit, showed Reserve Bank of India (RBI) data, according to a reply to an RTI query. The data showed 90 banks and financial institutions reported a total of 45,613 cases of loan fraud till March 31, 2021. State Bank of India – the country’s largest lender – reported the highest amount of loans as fraud - Rs 78,072 crore as of March 31, 2021. SBI is followed by Punjab National Bank (Rs 39,733 crore), Bank of India (Rs 32,224 crore), and Union Bank of India (Rs 29,572 crore). The top five banks account for 42.1% or Rs 2,06,941 crore of the total frauds classified by the banks. Read more

MARKET UPDATE:Volatile deals;Sensex trading around 50,580 levels and Nifty hovered around the 15,150-mark

MARKET UPDATE:Volatile deals;Sensex trading around 50,580 levels and Nifty hovered around the 15,150-mark

Monday, May 24, 2021

The benchmark indices in India fluctuated between gains and losses in today's(24th May 2021) volatile early deals. The S&P BSE Sensex was trading around 50,580 levels. The broader Nifty50 index, meanwhile, hovered around the 15,150-mark. State Bank of India and PowerGrid traded 2 percent higher, each, followed by HDFC Bank, ICICI Bank, and HDFC (all up 1%). The Nifty sectoral indices were mixed, with gains in Nifty Pharma and Nifty PSU Bank indexes (both up 0.8 percent) being offset by the Nifty Metal index (down 1.5 percent). The broader markets tracked the gains in the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.6 percent and 0.8 percent higher, respectively. Thirty-three companies including Grasim Industries, India Cements, JK Paper, Mahanagar Gas, and Barbeque-Nation Hospitality are slated to post their quarterly results today.

Closing Bell: Sensex gains 976 points, Nifty at 15175.30

Closing Bell: Sensex gains 976 points, Nifty at 15175.30

Friday, May 21, 2021

At close, the Sensex was up 975.62 points or 1.97% at 50,540.48, and the Nifty was up 269.30 points or 1.81% at 15,175.30 after India's largest public sector bank, State Bank of India, reported a healthy quarterly show and also supported by a rally in other financial stocks.SBI was the top gainer on the Sensex, up 5 percent, while IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank, HDFC, and Kotak Mahindra Bank were the other top gainers. On the downside, Dr Reddy's Labs and Power Grid on the Sensex, and Eicher Motors, Indian Oil Corporation, Grasim, and SBI Life on the Nifty were the only laggards. About 1909 shares have advanced, 1140 shares declined, and 157 shares are unchanged. Financial indices -- Nifty Bank, Private Bank, PSU Bank, and Financial Services gained between 3-3.5 percent. Meanwhile, all other sectoral indices settled up to 1 percent higher. The S&P BSE MidCap and SmallCap indices gained 0.8 percent and 0.65 per cent higher, respectively.

MARKET UPDATE:Sensex gained 420 points at 49,980 levels and Nifty reclaimed the psychological level of 15,000

MARKET UPDATE:Sensex gained 420 points at 49,980 levels and Nifty reclaimed the psychological level of 15,000

Friday, May 21, 2021

The markets in India rose over half a percent in morning deals today(21st May 2021), tracking firm trends in other Asian markets. The S&P BSE Sensex gained 420 points, or 0.86 percent, at 49,980 levels and the Nifty50 index reclaimed the psychological level of 15,000. IndusInd Bank and State Bank of India were up 2 percent, each. The Nifty sectoral indices were painted green, with the Nifty Bank index trading over 1 percent higher. Forty-nine companies, including State Bank of India, Hindalco Industries, JSW Steel, Shree Cement, Godrej Industries, and South Indian Bank are set to release their quarterly earnings today. Read more

BSE SmallCap index hit a new record high of 23,093

BSE SmallCap index hit a new record high of 23,093

Thursday, May 20, 2021

Today (20th May 2021) the S&P BSE SmallCap index hit a new record high of 23,093 in the intra-day trade driven by its constituents that have rallied by up to 112 percent in the past one month after the respective companies reported strong earnings to show for the quarter ended March 2021 (Q4FY21). At 12:48 pm, the S&P BSE Smallcap index, the top gainer among broader indices, was up 0.59 percent as compared to a 0.16 percent rise in the S&P BSE Midcap index and a 0.03 percent decline in the benchmark index S&P BSE Sensex. In the past month, the SmallCap index has rallied 11 percent as against a 4.6 percent and a 7.6 percent gain in the MidCap and Sensex, respectively. Automotive Axles, Gayatri Projects, Shakti Pumps, Pokarna, TV Today, TCI Express, Just Dial, Walchandnagar Industries, SORIL Infra Resources, H.G. Infra Engineering, Shivam Auto, and Emami Realty rallied between 10 percent and 20 percent in the intra-day session today.

MARKET UPDATE:Sensex gave up the psychologial level of 50,000 and Nifty holding above the 15,000-mark

MARKET UPDATE:Sensex gave up the psychologial level of 50,000 and Nifty holding above the 15,000-mark

Thursday, May 20, 2021

The markets in India gave up their meagre early gains and traded flat in early deals today(20th May 2021), amid mixed global cues. The S&P BSE Sensex gave up the psychological level of 50,000 while the broader Nifty50 index was holding above the 15,000-mark. Titan, Larsen & Toubro, ICICI Bank, and Infosys climbed 1 percent, each. The Nifty sectoral indices were largely in the green, barring for Nifty Metal index, which slipped 3 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices both traded flat. Thirty-two companies, including Bosch, Havells India, Zee Entertainment Enterprises, HPCL, Brookfield India Real Estate Trust REIT, and Torrent Power are scheduled to release quarterly earnings today.

More than half of BSE 500 stocks trade below their all-time highs

More than half of BSE 500 stocks trade below their all-time highs

Wednesday, May 19, 2021

Two hundred and sixty-three stocks or more than half of stocks that comprise the BSE 500 are trading at least 10 percent below their all-time high levels, despite the index hitting a record high 20,515 points on the BSE in intra-day trade today(19th May 2021), surpassing its previous high of 20,390 touched on March 12, 2021. The index, which accounts for 93 percent market capitalisation of BSE listed companies, has gained 8 percent from its recent low of 18,983 touched on April 19. In comparison, the benchmark S&P BSE Sensex gained 6 percent during the same period but is still nearly 4.5 percent away from its all-time high level of 52,517 hits on February 16. Analysts ascribe the underperformance of bulk of BSE 500 stocks to a classic case of polarisation, where investors are lapping up stocks of sectors that are likely to do well going ahead. Read more

MARKET UPDATE:Volatile market;Sensex fell 100 points and hovered around 50,000 levels;Nifty slid below 15,100-mark

MARKET UPDATE:Volatile market;Sensex fell 100 points and hovered around 50,000 levels;Nifty slid below 15,100-mark

Wednesday, May 19, 2021

The benchmark indices in India traded with a slight cut in early deals today(19th May 2021) amid weak global cues. The S&P BSE Sensex fell 100 points and hovered around 50,000 levels. The broader Nifty50 index, meanwhile, slid below the 15,100-mark. Mahindra & Mahindra, Kotak Mahindra Bank, IndusInd Bank, and ONGC were all down over 1 percent. Among other individual stocks, Tata Motors slid over 5 percent after announcing its March quarter results. The trend among Nifty sectoral indices was mixed, with gains in the Nifty Pharma index being offset by losses in the Nifty Auto index. Meanwhile, the broader indices outran their benchmark peers, with both the S&P BSE MidCap and SmallCap indices ruling over half a percent higher. Twenty-five companies, including Indian Oil Corporation, Indiabulls Housing Finance, JK Tyre & Industries, and SML Isuzu are scheduled to release quarterly earnings today.

Sensex soared 613 pts; Nifty at 15,108 levels; MidCap index hits record peak

Sensex soared 613 pts; Nifty at 15,108 levels; MidCap index hits record peak

Tuesday, May 18, 2021

As the daily Covid-19 cases reported become less than three lakh for the second straight day, domestic indices advanced over 1 percent today(18th May 2021). Automobile and consumer discretionary stocks caught investors' fancy as they hoped that restrictions/curbs would ease once cases decline further. Supporting the sentiment were news flows around the vaccination front that more and more pharma companies are tying up for vaccine manufacturing. Visibility on economic recovery has largely continued even during the lockdown and now, with restrictions likely to ease, consumer demand is expected to make a come-back, believe analysts. Given this, the benchmark S&P BSE Sensex soared 613 points, or 1.24 percent, to end the day at 50,193 levels. On the NSE, the Nifty50 index reclaimed the 15,000-mark for the first time since March 12 on a closing basis, and shut shop at 15,108 levels, up 185 points or 1.24 percent. Read more

MARKET UPDATE:Sensex surged 550 points to 50,100 levels and Nifty reclaimed the psychological level of 15,100

MARKET UPDATE:Sensex surged 550 points to 50,100 levels and Nifty reclaimed the psychological level of 15,100

Tuesday, May 18, 2021

The markets in India shot up 1 percent in early deals today (18th May 2021), tracking similar firm trends in other Asian markets. Besides, another day of a dip in daily Covid-19 cases also supported investor sentiment. The S&P BSE Sensex surged 550 points, or 1 percent, to 50,100 levels and the Nifty50 index reclaimed the psychological level of 15,100. Bajaj Finance, IndusInd Bank, and PowerGrid rose over 2 percent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.2 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 1.5 percent and 1 percent higher, respectively. Thirty-five companies, including Tata Motors, Canara Bank, Aarti Industries, Abbott India, Torrent Pharmaceuticals, Ujjivan Small Finance Bank, and Route Mobile, are set to release their quarterly earnings today. Read more

MARKET UPDATE:Sensex rose 400 points to 49,130 levels and Nifty topped the 14,750-mark

MARKET UPDATE:Sensex rose 400 points to 49,130 levels and Nifty topped the 14,750-mark

Monday, May 17, 2021

The indices in India added to their early gains and rose nearly one per cent in early trade today (17th May 2021) amid favourable global cues and further fall in daily Covid-19 cases across the country. The S&P BSE Sensex rose 400 points, or 0.83 percent, to 49,130 levels and the Nifty50 index topped the 14,750-mark. IndusInd Bank and State Bank of India rose 2 percent, each, and were the top Sensex gainers. Meanwhile, Larsen & Toubro and Sun Pharma slipped 1 percent, each. All the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 2.2 per cent. Broader markets tracked the gains in the benchmarks, and the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.8 percent higher, respectively. Twenty-four companies including mainly Bharti Airtel, Federal Bank, Colgate-Palmolive, and Orient Cement are slated to post their quarterly results today 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

Markets will digest dent on June quarter earnings as one-time hit: Analysts

Markets will digest dent on June quarter earnings as one-time hit: Analysts

Friday, May 14, 2021

The present Covid-19 pandemic situation across key economic hubs will dent corporate earnings in the June 2021 quarter (Q1FY22), but the markets will take this in their stride and digest them as a one-time hit look forward to growth as the economy normalises after this wave, believe analysts. They expect the second wave in India to peak by June. Economic normalisation, is likely by August – September 2021 according to them. Economic pain, most analysts believe, will be restricted to the second quarter of this fiscal (Q2FY22) as the stringency of the lockdown measures is relatively low as compared to the first wave in 2020. Yet, leading brokerages and rating agencies, including Moody’s, Nomura, Crisil, QuantEco Research, and CARE Ratings, have cut India’s GDP growth estimates for FY22. Read more

MARKET UPDATE:Sensex hovered around 48,760 levels Nifty topped the 14,700-mark

MARKET UPDATE:Sensex hovered around 48,760 levels Nifty topped the 14,700-mark

Friday, May 14, 2021

The benchmark indices in India fluctuated between gains and losses in early deals today(14th May 2021). The S&P BSE Sensex hovered around 48,760 levels, and the broader Nifty50 index topped the 14,700-mark. Asian Paints rose 4 percent and were the top Sensex gainer, followed by Titan, SBI, and ITC gained 1 percent, each. On the other hand, TCS, Mahindra & Mahindra, and Tech Mahindra fell 1 percent, each. All the Nifty sectoral indices, except the Nifty IT index, traded with gains, led by the Nifty PSU Bank index, up 2 percent. Forty-one companies, including the likes of Larsen & Toubro, Dr. Reddy's Laboratories, Cipla, Aditya Birla Capital, Just Dial, and Mindspace Business Parks REIT are scheduled to release their quarterly results today. Read more

Indian stock market’s passive reaction to new Covid-19 situation is not a mystery

Indian stock market’s passive reaction to new Covid-19 situation is not a mystery

Wednesday, May 12, 2021

The stock market’s passive reaction to the harrowing reality on the ground caused by a destructive wave of Covid-19 is a mystery for many. Last year in the US people was dismayed by the stocks rally amid the US Fed’s unprecedented intervention, even as the healthcare infrastructure collapsed in the city after city. This year in India in a similar way the participants and non-participants are equally baffled by the resilience shown by the market even in the face of rising infections, deaths, and localized lockdowns. It goes back to the old adage in the investing world: investors hate uncertainty; they hate fogginess when they look into the future, even though their track record in predicting it accurately is about as good as a flipped coin. Read more

MARKET UPDATE:Sensex dipped 350 points to 48,820 and Nifty hovered around 14,800-level

MARKET UPDATE:Sensex dipped 350 points to 48,820 and Nifty hovered around 14,800-level

Wednesday, May 12, 2021

The Indian markets fell over half a percent in early trade today (12th May 2021), tracking similar cues from other Asian markets. The S&P BSE Sensex dipped 350 points, or 0.7 percent, to 48,820 and the broader Nifty50 hovered around 14,800-level. HDFC, Mahindra & Mahindra, Hindustan Unilever, and HDFC Bank fell over 1 percent, each. The Nifty sectoral indexes were mixed, with the Nifty Financial Services index, down 0.7 percent, bleeding the most. The broader markets, meanwhile, continued to outrun their benchmark peers, with the S&P BSE MidCap and SmallCap indexes trading 0.1 percent and 0.4 percent higher, respectively. Thirty-six companies, including Asian Paints, Lupin, UPL, Apollo Tyres, Tata Power, and Pidilite Industries are scheduled to release quarterly earnings today.

Top investor Bay Tree cuts stake in YES Bank by a third

Top investor Bay Tree cuts stake in YES Bank by a third

Tuesday, May 11, 2021

Record bad loans, weak corporate governance, as well as depleting capital and deposits led to the collapse of Yes Bank in March 2020, forcing the regulator to ask a group of lenders to infuse capital and rescue it. Since then, the bank has cut back lending to companies and tried to win back depositors under its new CEO Prashant Kumar. Still, its bad loans remain high and a second coronavirus wave is adding to the challenges of growing its business. Bay Tree India Holdings was the largest anchor investor in Yes Bank’s $2 billion equity raising last year when it paid 22 billion rupees for about 55% of the investor portion. It’s now the second-largest single shareholder after the State Bank of India. Read more

Markets in a vulnerable zone: Analysts

Markets in a vulnerable zone: Analysts

Tuesday, May 11, 2021

The equity market in India is in a ‘vulnerable zone’ and is likely to remain very volatile, impacted by the sharp rise in Covid cases since the past few weeks that have seen many state governments impose lockdowns and mobility restrictions to check the rampant spread, said analysts. They, however, have ruled out a deep correction for now. From a medium-to-long term perspective, however, most analysts remain bullish about the markets but do caution against the possible earnings downgrades given the sporadic lockdowns and expensive valuation. While lockdowns can weigh on growth expectations in the near term, acceleration of vaccine drives and the overall direction of active cases will still act as the key catalyst for the market. Read more

MARKET UPDATE:Sensex fell 360 points to 49,140 levels and Nifty gave up the 14,850-mark

MARKET UPDATE:Sensex fell 360 points to 49,140 levels and Nifty gave up the 14,850-mark

Tuesday, May 11, 2021

The benchmark indices in India fell close to 1 percent in morning deals today (11th May 2021), tracking weak global cues amid inflation fears. The S&P BSE Sensex fell 360 points, or 0.74 percent, to 49,140 levels and the broader Nifty50 index gave up the 14,850-mark. HDFC, Kotak Mahindra Bank, IndusInd Bank, and Mahindra & Mahindra slid over 1 percent, each, and were the top Sensex laggards. All the Nifty sectoral indices, except Nifty Pharma, were painted red, with the Nifty Metal index, down 2.2 percent, bleeding the most. The losses were relatively contained in the S&P BSE MidCap index, which traded 0.2 percent down. On the other hand, the S&P BSE SmallCap index rose 0.2 percent. Twenty-eight companies, including Siemens, Alembic Ltd, Godrej Consumer Products, Granules India, and KEC International, are scheduled to release their quarterly earnings today.

MARKET UPDATE:Sensex rose 300 points at 49,530 levels and Nifty topped the 14,900-mark

MARKET UPDATE:Sensex rose 300 points at 49,530 levels and Nifty topped the 14,900-mark

Monday, May 10, 2021

The benchmark indices in India traded firm, up over half a percent, in early deals today(10th May 2021), tracking similar trends in other Asian markets. The S&P BSE Sensex rose 300 points, or 0.6 percent, at 49,530 levels and the Nifty50 index topped the 14,900-mark. Dr Reddy's rose 2 percent and was the top Sensex gainer, followed by ONGC, Titan, and Kotak Mahindra Bank (all up 1%). The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.9 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices ruled 0.5 percent and 0.8 percent higher, respectively. Twenty-two firms, including Chambal Fertilizers & Chemicals, Venky's, JMC Projects, and Zydus Wellness are slated to post their quarterly numbers today.

MARKET UPDATE:Sensex gained 350 points at 49,300 levels and Nifty index reclaimed the 14,800-mark

MARKET UPDATE:Sensex gained 350 points at 49,300 levels and Nifty index reclaimed the 14,800-mark

Friday, May 7, 2021

The benchmark indices in India rose over half a percent today(7th May 2021), tracking firm cues from their Asian peers. Among headline indices, the S&P BSE Sensex gained 350 points, or 0.7 percent, at 49,300 levels and the broader Nifty50 index reclaimed the 14,800-mark. Mahindra & Mahindra, Dr Reddy's, State Bank of India, and Kotak Mahindra Bank rose 1 percent, each. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2 percent. The broader markets, meanwhile, underperformed, with the S&P BSE MidCap and SmallCap indices trading 0.3 percent and 0.5 percent higher, respectively. Twenty-five companies, including Housing Development Finance Corporation, UltraTech Cement, Dabur India, Cholamandalam Investment and Finance Company, and Kansai Nerolac Paints are scheduled to release their quarterly earnings today. Read more

Why isn’t India’s stock market falling more?

Why isn’t India’s stock market falling more?

Thursday, May 6, 2021

What are the reasons for India’s stock market not falling much in spite of the most pervasive second wave of Covid-19 pandemic considering the risky asset class in a country struggling with its most horrific calamity. New daily Covid-19 infections have remained above 300,000 for two weeks now, the worst caseload the world has seen. The death rate is 3,700-plus. Fear of the virus is pervasive. Even the rich and the powerful are finding it hard to arrange a hospital bed or track down an oxygen cylinder. But in all this, the benchmark Nifty 50 Index is down ever so slightly, clocking a less than 5% decline since mid-February. At 32 times earnings, almost double the valuations in China, the Indian market is super-expensive. The logic for those prices runs like this: Unlike last year, there’s no national lockdown. And there may not be one if the peak of the surge is just a week or two away, as some epidemiological models indicate. Read more

MARKET UPDATE:Sensex hovered around 48,820 levels, up 150 points, and Nifty topped the 14,650-mark

MARKET UPDATE:Sensex hovered around 48,820 levels, up 150 points, and Nifty topped the 14,650-mark

Thursday, May 6, 2021

The benchmark indices in Indian markets traded with slim gains in today's(6th May 2021) morning deals amid favourable cues from other Asian markets. The S&P BSE Sensex hovered around 48,820 levels, up 150 points, and the Nifty50 index topped the 14,650-mark. Bajaj Auto, ONGC, and Bajaj Finance gained 1 percent, each, and were the top Sensex gainers. Among other individual stocks, IDBI Bank zoomed 15 percent after the Cabinet Committee on Economic Affairs gave its in-principle approval for strategic disinvestment along with transfer of management control in the bank. The Nifty sectoral indices were painted green, led by the Nifty Metal index, up 2.8 percent. Read more

RBI announces relief measures to cushion NPA blow from second Covid wave

RBI announces relief measures to cushion NPA blow from second Covid wave

Wednesday, May 5, 2021

The announcement of Reserve Bank of India(RBI) a fresh round of restructuring of loans for individual and small borrowers for up to two years is a start of a possible long-drawn battle, say analysts who hailed the timely action by the central bank but fell short of giving a verdict on the impact on the sector. The possible impact on the banking sector of the announcements is difficult to be assessed at the moment as the Covid-19 situation remains precarious, they say. “The RBI has done something, to begin with, which addresses the concerns of, both, the lenders and the borrowers because of the uncertainty due to the rising cases and subsequent lockdowns,” says an expert. He also adds that to pre-empt the situation and comment on the impact is extremely difficult right now because we don’t know how long the local lockdowns will stay or whether the vaccination drive will pick up sooner than expected to improve the economic situation.

MARKET UPDATE:Sensex up 200 points at 48,470 and Nifty topped the 14,550-mark

MARKET UPDATE:Sensex up 200 points at 48,470 and Nifty topped the 14,550-mark

Wednesday, May 5, 2021

The benchmark indices in India climbed off their early highs but were still trading in the green today(5th May 2021) as RBI Governor Shaktikanta Das unveiled liquidity support measures amid rising Covid-19 cases in India. Among the headline indices, the S&P BSE Sensex was up 200 points at 48,470 and the broader Nifty50 index topped the 14,550-mark. ONGC gained 3 percent and was the top Sensex gainer, followed by NTPC, Axis Bank, and Bharti Airtel (all up 1%). All the Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 1.8 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.6 percent and 0.5 percent higher, respectively. Twenty companies, including Tata Steel, Adani Enterprises, Adani Green Energy, Blue Dart Express, Ceat, Craftsman Automation, and Deepak Nitrite are set to release quarterly earnings today.

Stocks that have doubled your money so far in 2021

Stocks that have doubled your money so far in 2021

Tuesday, May 4, 2021

Equity markets have so far had a turbulent year with indices oscillating between gains and losses. On a year-to-date basis, the benchmark S&P BSE Sensex has advanced merely 2 percent while the Nifty50 index has added 4.6 percent. Buying in the broader markets has been relatively better with the S&P BSE500 index climbing around 8 percent during the period. Individually though, certain stocks have outperformed the indices by a huge margin on the back of positive news flow. Adani Total Gas, for instance, has soared 207 percent YTD. It recently became the fourth Adani Group company to enter the elite club of Rs 1 trillion market capitalisation after posting a stellar December quarter (Q3FY21) earnings show. During the said period, it saw the highest-ever financial performance with robust physical infrastructure growth despite the ongoing Covid-19 pandemic. That apart, stocks of Hindustan Copper, HEG, and Adani Enterprises have zoomed between 142 percent and 153 percent. Read more

Air India pilots threaten to stop work if not vaccinated on priority

Air India pilots threaten to stop work if not vaccinated on priority

Tuesday, May 4, 2021

Air India pilots union - ICPA - has raised an issue with Air India Director Captain R S Sandhu that they will "stop work" if the airline fails to set up vaccination camps on a 'Pan India' basis for the flying crew above the age of 18 years Also said, "With no healthcare support to the flying crew, no insurance, and a massive opportunistic pay cut, we are in no position to continue risking the lives of our pilots without vaccination. "Our finances are already spread thin covering our bedridden colleagues and provisioning for families lest we inadvertently infect them with the deadly virus that is an ever-present occupational hazard for us." According to the union, many crew members have been diagnosed as Covid positive and are struggling to get oxygen cylinders."The employees who are doing desk jobs and the majority opting to work from home are allowed to get vaccinated, leaving the flying crew vulnerable."

Accumulate stocks of PSUs that are likely to be disinvested say analysts

Accumulate stocks of PSUs that are likely to be disinvested say analysts

Tuesday, May 4, 2021

Analysts suggest investors accumulate stocks of PSUs, especially the ones that are likely to be disinvested, at the current levels from a medium-to-long-term perspective. “There are a lot of PSU stocks that have not participated in the market rally. The fall from their peak levels is a good opportunity to buy from a medium-to-long-term horizon. I am confident that the government will be able to achieve the fiscal 2021-22 (FY22) divestment target. Due to the ongoing second wave of Covid, it may dole out some relief measures, which will cost money. To fund such initiatives, it will have to go aggressive on divestment once the market conditions improve,” say experts. Read more

MARKET UPDATE:Sensex hovered around 48,670 levels and Nifty hovered below 14,650-mark

MARKET UPDATE:Sensex hovered around 48,670 levels and Nifty hovered below 14,650-mark

Tuesday, May 4, 2021

The markets in India fluctuated between gains and losses in today's(4th May 2021) morning deals. The S&P BSE Sensex hovered around 48,670 levels, down 40 points. Earlier, the index had risen to as high as 48,997. The broader Nifty50 index hovered below 14,650-mark. IndusInd Bank, Axis Bank, and ICICI Bank rose 2 percent, each, and were the top Sensex gainers. Among other individual stocks, L&T Technology Services fell over 8 percent after announcing their quarterly results. Majority of the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.9 percent. Twenty companies, including Adani Ports and Special Economic Zone, Alembic Pharmaceuticals, Apollo Pipes, DCM Shriram, IIFL Securities, Larsen & Toubro Infotech, and RBL Bank are set to release their quarterly earnings today.

Indian government is unlikely to impose a nationwide lockdown

Indian government is unlikely to impose a nationwide lockdown

Monday, May 3, 2021

The Indian government is unlikely to impose a nationwide lockdown, though states and UTs have been advised to take stringent measures and implement “customised lockdowns” to break the chain of transmission and curb the spread of COVID-19 infection, official sources said. The Supreme Court today directed the central and state governments to consider enforcing a ban on mass gatherings and super spreader events as well as consider imposing a lockdown. "We would seriously urge the central and state governments to consider imposing a ban on mass gatherings and super spreader events. They may also consider imposing a lockdown to curb the virus in the second wave in the interest of public welfare," the Supreme Court said. Read more

India's manufacturing sector activity was largely flat in April

India's manufacturing sector activity was largely flat in April

Monday, May 3, 2021

Manufacturing sector activity in India was largely flat in April, as rates of growth for new orders and output eased to eight-month lows amid the intensification of the COVID-19 crisis, a monthly survey said today(3rd May 2021). The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers' Index (PMI) was at 55.5 in April, little changed from March's reading of 55.4. "The PMI results for April showed a further slowdown in rates of growth for new orders and output, both of which eased to eight-month lows amid the intensification of the COVID-19 crisis," said Pollyanna De Lima, Economics Associate Director at IHS Markit. Lima also noted that "the surge in COVID-19 cases could dampen demand further when firms' financials are already susceptible to the hurdle of rising global prices." On the prices front, survey participants also signaled a steep increase in input costs, the quickest since July 2014, and upward revisions to selling prices. Read more

MARKET UPDATE:Sensex down 350 points at 48,430 levels, and Nifty hovered below 14,550-mark

MARKET UPDATE:Sensex down 350 points at 48,430 levels, and Nifty hovered below 14,550-mark

Monday, May 3, 2021

The Indian markets came out of the opening lows but were still trading over half a percent down in today's (3rd May 2021) morning deals. The S&P BSE Sensex traded at 48,430 levels, down 350 points and the broader Nifty50 index hovered below the 14,550-mark. State Bank of India, Titan, and Bajaj Finance fell over 2 percent, each, and were the top Sensex laggards. Reliance Industries also slipped 2 percent after the announcement of its March quarter results. All the Nifty sectoral indices, except the Nifty Pharma index, traded in the red, with the Nifty PSU Bank index, down 2 percent, bleeding the most. Twenty-one companies are slated to post their March quarter numbers today, including Kotak Mahindra Bank, SBI Life Insurance Company, Tata Chemicals, Godrej Properties, L&T Technology Services, and Varun Beverages.

GST collection for April 2021 sets new record (Rs.1.41 trillion)

GST collection for April 2021 sets new record (Rs.1.41 trillion)

Saturday, May 1, 2021

Surpassing the previous high in March, GST collections in the month of April set another fresh record at Rs 1.41 trillion, according to the government data released today(1st May 2021). April month's GST revenues are about 14 percent higher when compared with the collections of the previous month. GST collections have consistently crossed Rs 1 trillion marks for the last seven months. "Despite the second wave of coronavirus pandemic affecting several parts of the country, Indian businesses have once again shown remarkable resilience by not only complying with the return filing requirements but also paying their GST dues in a timely manner during the month," the government said in an official statement. During April, the revenues from the domestic transactions (including import of services) are 21 percent higher than the revenues from these sources during the last month. Read more

India's coronavirus crisis may derail the world economy

India's coronavirus crisis may derail the world economy

Saturday, May 1, 2021

The second wave of the COVID-19 pandemic has struck India with a devastating impact. With over 300,000 new cases and 3,000 deaths across the country each day at present, the total number of deaths has just passed the 200,000 mark – that’s about one in 16 of all COVID deaths across the world. There is now a humanitarian crisis of significant proportions. India is a country of 1.4 billion people and makes up a sixth of the world’s population. Hence it is also most likely going to affect the world economy. India is itself the fifth largest economy in the world. With relatively high growth rates (of between 4% and 8%) and its large size, it has a significant impact on the world economy. Read more

Sensex ends 984 points lower, halts 4-day rally-investors' wealth came down by Rs 2.02 lakh

Sensex ends 984 points lower, halts 4-day rally-investors' wealth came down by Rs 2.02 lakh

Friday, April 30, 2021

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

MARKET UPDATE:Sensex dropped 517 points to quote at 49,249 levels while Nifty hovered around 14,750-mark

MARKET UPDATE:Sensex dropped 517 points to quote at 49,249 levels while Nifty hovered around 14,750-mark

Friday, April 30, 2021

Indian markets drove lower today(30th April 2021) after four straight sessions of gains this week due to unfavourable global market cues, unabated rise in Covid cases, and hiccups in vaccination. The benchmark indices started gap-down with up to 1 percent cuts. In absolute terms, the headline S&P BSE Sensex dropped 517 points to quote at 49,249 levels in early deals. On the NSE, the Nifty50 hovered around 14,750-mark, down 137 points. Wipro (up nearly 4 per cent) was leading the list of gainers on the Nifty after the IT major revised its IT services revenue guidance to $2,324-$2,367 million for the April-June quarter of FY22, which translates to a sequential growth of 8-10 per cent. Bajaj Auto, ONGC, Divis's Labs, Dr Reddy's Labs, and Sun Pharma were the other top-performing stocks on the 50-share index. Read more

Markets are geared up for a bull-phase

Markets are geared up for a bull-phase

Thursday, April 29, 2021

Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues. Starting gap-up, frontline indices reclaimed major psychological marks in the early deals with the S&P BSE Sensex reclaiming the 50,000 marks. Profit booking, mainly in banking counters, saw the frontline index give up some of its gains as trading progressed. There are indications that the markets will continue their journey north, as long as global and domestic cues remain supportive. S&P BSE SENSEX has scaled the resistance range of 50,270 with an intra-day high of 50,375 on Thursday Read more

MARKET UPDATE:Sensex up 300 points at 50,045 level while Nifty up 87 points at 14,960

MARKET UPDATE:Sensex up 300 points at 50,045 level while Nifty up 87 points at 14,960

Thursday, April 29, 2021

Indian benchmark indices extended their bull run to the fourth straight day today(29th April 2021) supported by the US Fed decision to keep policy loose and firm global markets cues, Starting gap-up, frontline indices reclaimed major psychological marks in the early deals. The indices, however, pared gains marginally with the benchmark S&P BSE Sensex up 300 points to quote at 50,045 level while the Nifty50 was at 14,960, up 87 points. Earlier in the day, the indices hit respective day highs of 50,376 and 15,044, respectively. The Sensex index is back above 50,000 after 12 trading sessions while the Nifty has reclaimed the 15,000-mark for the first time since March 16. The benchmark indices leaned on Reliance Industries, HDFC twins, Axis Bank, ICICI Bank, and Bajaj Finance to support the fresh breakouts. All the heavyweights were up in the range of 2 percent to 2.5 percent. Read more

Sensex zooms 790 pts; banks rally: Investors look beyond Covid cases' surge

Sensex zooms 790 pts; banks rally: Investors look beyond Covid cases' surge

Wednesday, April 28, 2021

Expectations that Covid-19 cases could soon peak in the country boosted investor confidence on Dalal Street today(28th April 2021). Besides, healthy buying in the financial counters ahead of the monthly expiry of the F&O contracts of April due tomorrow further lifted benchmark indices 1.6 percent today. Today was the third consecutive day of gains at the bourses. Maharashtra’s stabilising Covid cases could be a precursor to India's curve flattening over one-two months, believes some experts. Meanwhile, CLSA opines that the surge in Covid cases in Maharashtra may taper in May as the state is in its fourth month of the second wave. This, it believes, will be positive for the markets. Read more

Economists tweak their GDP projections for FY22 due to Lockdown and mobility curbs

Economists tweak their GDP projections for FY22 due to Lockdown and mobility curbs

Wednesday, April 28, 2021

Recent lockdown and mobility curbs in more Indian cities – have led to economists tweak their gross domestic growth (GDP) projections for fiscal 2021-22 (FY22). In a recent note, those at IHS Markit suggest that they expect the Indian economy (as measured by GDP) to grow at 9.6 percent in FY22. Maharashtra’s lockdown, it said, represents a significant dampener on growth, as the state accounts for 16 percent of the national GDP. “IHS Markit forecasts 9.6 percent real GDP growth in FY 2021, though the wider restrictions forecast above indicate that there is scope for further reductions in economic growth, as these measures would mean income and job losses for workers alongside significant output and revenue losses for firms, particularly in the services sector and the informal economy,” wrote Deepa Kumar, deputy head, Asia-Pacific, IHS Markit. Read more

MARKET UPDATE:Sensex advanced 390 points to quote at 49,300 levels and Nifty reclaimed the 14,750-mark

MARKET UPDATE:Sensex advanced 390 points to quote at 49,300 levels and Nifty reclaimed the 14,750-mark

Wednesday, April 28, 2021

Starting higher for the third straight day, Indian equity markets edged up 0.8 percent in early deals today(28th April 2021). Among the frontline indices, the S&P BSE Sensex advanced 390 points to quote at 49,300 levels while the NSE's Nifty50 reclaimed the 14,750-mark and was at 14,764. Bajaj Auto, Bajaj Finance, and Bajaj Finserv, all up between 1.5 percent and 2 percent, were the top-performing stocks on the Nifty. These were followed by the State Bank of India, Tata Motors, Hero MotoCorp, and Divis Labs. On the downside, Britannia, HUL, Hindalco, JSW Steel, and Maruti Suzuki slipped up to 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices gained 0.76 percent and 0.74 percent, respectively. As regards sectoral trends on the NSE, the Nifty Metal index witnessed profit-booking and slipped 0.25 percent on the NSE. On the contrary, the Nifty Auto index zoomed 1.4 percent, trailed by the Nifty Bank index, up 0.7 percent. Read more

MARKET UPDATE:Sensex up 162 points at 48,549 levels, and Nifty hovered around 14,522 levels

MARKET UPDATE:Sensex up 162 points at 48,549 levels, and Nifty hovered around 14,522 levels

Tuesday, April 27, 2021

Following the weak trend in Asian markets, Indian equity indices started higher today(27th April 2021) amid a healthy buying in metal, realty, and pharma counters. Among key indices, the benchmark S&P BSE Sensex quoted at 48,549 levels, up 162 points, in morning deals. Tech M, Bajaj Finance, Reliance Industries, and Power Grid were the top gainers on the Sensex while Kotak Mahindra Bank, Axis Bank, Asian Paints, and HDFC were leading the list of losers. On the NSE, the Nifty50 hovered around 14,522 levels. Individually, Tech Mahindra gained 1.7 percent on the BSE after the IT major on Monday reported a net profit of Rs 1,081 crore for the fourth quarter ended March 31, 2021, up 34.6 percent year-on-year (YoY). On a sequential basis, the figure was down 17.4 percent from Rs 1,309.8 crore. SBI Card, meanwhile, rallied 1.3 percent on a net profit of Rs 175 crore in the March quarter of FY21, up 110 percent compared to Rs 84 crore in the same period last year. Read more

India’s double-digit growth forecast in risk

India’s double-digit growth forecast in risk

Monday, April 26, 2021

Fifteen days back, the International Monetary Fund upgraded India’s economic growth forecast to 12.5% -- the quickest rate among major economies. Now, as Covid-19 cases surge the most globally, that bullish view is looking increasingly in doubt. In Delhi, India’s political capital, the streets are mostly empty and the markets nearly deserted with almost all shops closed in response to curbs put in place by the local administration to fight the pandemic. The scene is not so different in Mumbai, the financial hub. Aimed at controlling the COVID-19 spike, the Karnataka government today announced "close down" across the state for 14 days from Tuesday(27th April 2021) night. High-frequency data are already pointing to a deepening contraction in retail activity in the week through April 18 relative to its pre-pandemic January 2020 level, said a Bloomberg Economist. That’s a key risk for an economy where consumption makes up some 60% of gross domestic product.

Sensex ruling 730 points up at 48,600 levels and Nifty jumped 190 points,hovering above 14,500 mark

Sensex ruling 730 points up at 48,600 levels and Nifty jumped 190 points,hovering above 14,500 mark

Monday, April 26, 2021

Indian benchmark indices opened higher in today's(26th April 2021) session, tracking firm cues from global peers, even as India continued to report over 3 lakh Covid-19 cases. The BSE barometer Sensex was ruling 730 points up at 48,600 levels while NSE Nifty jumped 190 points and was hovering above14,500 mark. ICICI Bank, Axis Bank, ONGC, UltraTech, and SBI were among the top Sensex gainers while HCL Technologies, Power Grid, and DRL were among the top drags. Broader markets traded in tandem with benchmark indices with Nifty Midcap and Nifty Smallcap indices up 1 percent each. On the sectoral front, barring Nifty Pharma, all indices traded in the green. Nifty Bank with a gain of nearly 2 percent was the best performing index. Tech M, SBI Card, and HDFC Life are among the 15 companies that are scheduled to announce their quarterly numbers today. Read more

Indian Industrial gas maker shares jump amid shortage of life-saving oxygen

Indian Industrial gas maker shares jump amid shortage of life-saving oxygen

Friday, April 23, 2021

India recorded 314,835 new infections yesterday (22nd April 2021), the world’s biggest one-day jump, and taking its case count to almost 16 million, the second-most globally. Supplies of medical oxygen, essential in many cases to treat seriously ill patients, have been depleted as hospitals around India have been overwhelmed by Covid-19 cases. An acute shortage of medical oxygen in India, amid a deadly wave of coronavirus infections, has triggered a surge in stocks seen linked to industrial gases. Oxygen manufacturer Linde India Ltd. has gained more than 90% so far this year, while National Oxygen Ltd. has advanced 59%.

MARKET UPDATE:Sensex down 270 points at 47,812 levels and Nifty hovering below 14,350 levels

MARKET UPDATE:Sensex down 270 points at 47,812 levels and Nifty hovering below 14,350 levels

Friday, April 23, 2021

Equity markets in India were under pressure today(23rd April 2021) amid muted investment sentiment across Asian markets and on a record single-day spike of over 3 lakh Covid-19 cases for the second consecutive day. Among the headline indices, the S&P BSE Sensex was at 47,812 levels in early deals, down 270 points or 0.56 percent. On the NSE, the Nifty50 was hovering below 14,350 levels. Power Grid was the top gainer on the Nifty, up 4 percent, followed by Tata Steel, SBI Life, Dr. Reddy's Labs, and Asian Paints. On the downside, Wipro, ICICI Bank, Bajaj Finance, Hero MotoCorp, and State Bank of India were the top laggards in morning deals. In the broader markets, the S&P BSE MidCap index was up 0.59 percent while the S&P BSE SmallCap index gained 0.72 percent. Sectorally, only Nifty Metal, Pharma, and Media indices were trading in the green, up between 0.3 percent and 1 percent. On the contrary, the Nifty Financial Services index slipped 0.7 percent. Read more

India's midcap rally amid Covid may be poised for a break

India's midcap rally amid Covid may be poised for a break

Thursday, April 22, 2021

The outperformance of India’s midcap stocks over the larger stocks since the coronavirus pandemic engulfed global markets may take a breather. Some Fund managers are currently avoiding midcaps based on global economic cues and valuations. They said there is more safety in buying large stocks now that India has become the epicenter of virus resurgence in Asia, while inflation is set to rise in the U.S. and China as the world’s two biggest economies are rebounding. The S&P BSE Midcap Index has outperformed the benchmark S&P BSE Sensex Index in all but five months since the end of 2019, according to data compiled by Bloomberg. The smaller stock measure has gained nearly 33% in that span, more than double the rise in the broader benchmark, with the outperformance becoming particularly pronounced amid the recent market chill. Read more

Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials

Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials

Thursday, April 22, 2021

Today (22nd April 2021) from the day's low of 47,204, the benchmark S&P BSE Sensex bounced back over 900 points to hit a high of 48,143 on the back of a brisk buying in financial and metal counters. Supportive global cues and expectations that the mass vaccination drive would help curtail the raging second Covid-19 wave in the country gave ammunition to the bulls. By the close, the Sensex was at 48,081 levels, up 375 points or 0.79 percent. The broader Nifty50, on the other hand, gained 255 points higher from the day's low to settle at 14,406, up 110 points or 0.77 percent. About 18 of the 30 constituents on the Sensex and 27 of the 50 constituents on the Nifty ended the day in the green with Wipro, ICICI Bank, JSW Steel, Tata Steel, HDFC, Bajaj Auto, and BPCL topping the charts on the latter. On the Sensex, HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, and SBI were the additional gainers. All these stocks were up in the range of 2 percent to 3.5 percent. Read more

MARKET UPDATE:Sensex down 250 points at 47,462 levels and Nifty hovering around 14,250 levels

MARKET UPDATE:Sensex down 250 points at 47,462 levels and Nifty hovering around 14,250 levels

Thursday, April 22, 2021

Indian equity markets opened gap-down today (22nd April 2021) as a record single-day spike of over three lakh Covid-19 cases kept investor sentiment at bay. However, buying at lower levels in IT and metal counters helped indices stage mild recovery. The benchmark S&P BSE Sensex was quoting at 47,462levels, down 250 points or 0.5 percent. On the NSE, the Nifty50 was hovering around 14,250 levels, down 56 points. Ultratech Cement, Shree Cement, IndusInd Bank, Axis Bank, Hero MotoCorp, and NTPC, down up to 3.5 percent, were leading the list of losers on the Nifty while Bajaj Auto, Dr. Reddy's Labs, Wipro, BPCL, and Tata Steel outperformed the market and gained between 1.5 percent and 3.5 percent. In the broader markets, the S&P BSE MidCap index slipped 0.13 percent while the S&P BSE SmallCap index gained 0.3 percent. Read more

Covid second wave may not dent FY22 earnings: Analysts

Covid second wave may not dent FY22 earnings: Analysts

Tuesday, April 20, 2021

Despite the sharp rise in Covid cases and the ensuing lockdown imposed in some important cities across India that can dent the economic momentum, analysts remain optimistic on the earnings trajectory of India Inc and have not yet downgraded / cut projections for fiscal 2021-22 (FY22). “Corporate earnings are yet to come back to their pre-Covid levels in realistic terms even though they may look optically higher due to the low base effect of the last year. Despite the recent lockdown measures, the companies engaged in essential services continue to run. The curbs can, at best, slow the earnings growth for a couple of months. I do not see any major impact on FY22 numbers at an aggregate level as of now,” say experts. Read more

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Pharma index hits record high as govt launches phase 3 of Covid vaccination

Tuesday, April 20, 2021

Shares of pharmaceutical companies are in demand with Nifty Pharma and the S&P BSE Healthcare indices gaining 2 per cent each and hitting their respective all-time highs on Tuesday as a significant resurge in Covid-19 cases across India led to a spike in demand for Covid-related drugs. Shares of Cadila Healthcare up 6.17 per cent, Dr Reddy's Laboratories up 4.58 per cent, Aurobindo Pharma up 3.42 per cent, Lupin up 3.1 per cent and Sun Pharmaceutical Industries up 1.97 per cent were among the top gainers. Sun Pharmaceutical Industries, Cadila Healthcare, Glenmark Pharmaceuticals, Panacea Biotech and RPG Lifesicenes are among those that hit 52-week highs in the intra-day trade today.Dr Reddy's stock is in focus after the company said it is going to roll out the Sputnik V COVID-19 vaccine by May-end or early June. Read more

MARKET UPDATE:Sensex traded around 48,230 levels, up 230 points, and Nifty hovered around 14,450

MARKET UPDATE:Sensex traded around 48,230 levels, up 230 points, and Nifty hovered around 14,450

Tuesday, April 20, 2021

The benchmark indices in Indian markets climbed off the early highs but were still trading half a percent up in today's(20th April 2021) morning deals as the Indian government's decision to vaccinate everyone above 18 years of age against Covid-19 from May 1 buoyed investor sentiment. The S&P BSE Sensex traded around 48,230 levels, up 230 points, and the Nifty50 index hovered around 14,450. Bajaj Finance, Dr. Reddy's, Mahindra & Mahindra, and Bajaj Finserv gained 3 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices traded in the green, led by the Nifty PSU Bank index, up 1.7 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 1.7 percent higher, each. A total of nine companies, including Nestle India, Tata Steel Long Products, and Welspun Investments and Commercials are scheduled to release their quarterly earnings today. Read more

Sensex tumbles 1,300 pts, Nifty below 14,300

Sensex tumbles 1,300 pts, Nifty below 14,300

Monday, April 19, 2021

The Indian benchmark indices slid over 2 percent in today's(19th April 2021) early deals as India continued to report a record spike in daily Covid-19 cases. India recorded over 2.75 lakh new Covid cases in the last 24 hours, as per Worldometer. The S&P BSE Sensex traded around 47,490 levels, down 1,300 points, and the Nifty50 index fell below the 14,300-mark. IndusInd Bank fell 5 percent and was the top Sensex laggard, followed by State Bank of India, Bajaj Auto, Bajaj Fiannce, and ICICI Bank (down 4% each). The Nifty sectoral indices were painted red, with the Nifty PSU Bank index, down 4.7 percent, bleeding the most. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 2.8 percent, each. ACC, ICICI Prudential Life Insurance Company, Bajaj Consumer Care, CRISIL, Agio Paper & Industries, Pratik Panels, Response Informatics, and Sri Chakra Cement will release quarterly numbers on Monday. Read more

MARKET UPDATE:Sensex rose 180 points around 49,000 level and Nifty topped the 14,650-mark

MARKET UPDATE:Sensex rose 180 points around 49,000 level and Nifty topped the 14,650-mark

Friday, April 16, 2021

The benchmark indices in India ticked nearly half a percent up in today's(16th February 2021) morning deals, tracking mixed cues from their Asian peers. The S&P BSE Sensex rose 180 points around 49,000 level and the broader Nifty50 index topped the 14,650-mark. Asian Paints, HCL Tech, UltraTech Cement were up 1 percent, each, and were the top Sensex gainers. The Nifty sectoral indices, barring the Nifty Pharma index, traded in the green, led by the Nifty IT index, up 0.8 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 1.2 percent higher, each. Mindtree, Den Networks, GTPL Hathway, MMTC, and AAR Commercial Company are scheduled to release quarterly numbers today.

Foreign brokerages modify return expectation from Indian equities

Foreign brokerages modify return expectation from Indian equities

Thursday, April 15, 2021

Foreign brokerages trim their return expectation from Indian equities over the next 12 months due to the sudden rise in Covid cases and the micro-lockdowns imposed across key economic hubs in India. After Nomura that recently cut its March 2022 Nifty50 target to 15,340 (earlier target: 14,680 by December 2021), analysts at Goldman Sachs, too, have tempered their expectations, albeit modestly. They now see the Nifty at 16,300 levels in 12 months (16,500 earlier). However, they have retained their ‘overweight’ stance on India for now. With the new Covid-19 cases in India surging to a record high and a host of states announcing stricter lockdown restrictions, investors, Goldman Sachs said, are concerned about the risks to macro and earnings recovery. Despite the near-term headwinds, they expect the recovery to resume from Q3 onwards as restrictions normalise, vaccination pace accelerates and the global growth backdrop remains supportive.

India records highest ever single-day spike with 200,739 Covid-19 cases

India records highest ever single-day spike with 200,739 Covid-19 cases

Thursday, April 15, 2021

The number of new coronavirus cases in India hit a record daily high with over 200,000 infections being reported in a day, while the active cases surpassed the 14- lakh mark, as per the Union Health Ministry data updated today(15th April 2021). With the new cases, the total tally of Covid-19 cases in the country rose to 14,074,564. A total of 200,739 new Covid-19 cases have been registered in a span of 24 hours, while the death toll increased to 173,123 with 1,038 daily new fatalities, the highest sinceOctober3,2020, the data updated at 8 am showed. Registering a steady increase for the 36th day in a row, the active cases have increased to 1,471,877 comprising 10.46 percent of the total infections, while the national Covid-19 recovery rate has dropped to 88.31 percent. Read more

MARKET UPDATE:Sensex hovered around 48,230 levels, down 300 points and Nifty gave up the 14,450-mark

MARKET UPDATE:Sensex hovered around 48,230 levels, down 300 points and Nifty gave up the 14,450-mark

Thursday, April 15, 2021

The benchmark indices in India slid over half a percent in today's (15th April 2021) morning's volatile session, dragged by public sector banks, IT, and auto stocks, as India recorded over 2 lakh fresh Covid-19 cases in the last 24 hours. The S&P BSE Sensex hovered around 48,230 levels, down 300 points and the Nifty50 index gave up the 14,450-mark. Infosys fell 5 percent after the announcement of its March quarter results and was the top Sensex laggard, followed by Mahindra & Mahindra, and IndusInd Bank (both down 3%). On the other hand, ONGC (up 3%) was the top Sensex gainer, followed by NTPC, State Bank of India, and UltraTech Cement (all up 1%). The Nifty sectoral indices were largely in the red, with Nifty Auto and Nifty PSU Bank index, down 2.5 percent, each. On the other hand, Nifty Pharma ticked up 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indices traded 0.3 percent lower, each. Read more

Johnson & Johnson set to begin its trial of single-dose vaccine in India

Johnson & Johnson set to begin its trial of single-dose vaccine in India

Friday, April 9, 2021

Johnson & Johnson is in talks with India's government to begin a clinical trial of its single-dose COVID-19 vaccine in the country, the company said on Friday. India is looking to ramp up its vaccine doses amidst high demand due to the second surge of coronavirus in the country, with several states saying they are running out of supplies. Top government sources told The Indian Express that J&J will soon conduct the trials, which could pave the way for its vaccine to be marketed in India. “Johnson & Johnson has sent a letter to the CDSCO (Central Drugs Standard Control Organisation) that they will very shortly apply for permission to conduct clinical bridging trials in India,” the sources said. A bridging study tests the safety and immunogenicity of a vaccine, and India has indicated that any vaccine maker must conduct such a trial for a shot to be considered for its immunisation programme.

MARKET UPDATE:Sensex up 120 points around 49,870 levels and Nifty hovered around 14,900

MARKET UPDATE:Sensex up 120 points around 49,870 levels and Nifty hovered around 14,900

Friday, April 9, 2021

The benchmark indices in India fluctuated between gains and losses in today's(9th April 2021) late morning deals. The S&P BSE Sensex traded around 49,870 levels, up 120 points, and the Nifty50 index hovered around 14,900. Bajaj Finance, ICICI Bank, IndusInd Bank, and Larsen & Toubro dipped 1 percent, each, and were the top Sensex laggards. On the other hand, Hindustan Unilever and Sun Pharma rose 2 percent, each. The Nifty sectoral indices were trading mixed, with the Nifty PSU Bank index, up over 3 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.4 percent and 0.9 percent higher, respectively.

MARKET UPDATE:Sensex leaped 700 points at 49,900 and Nifty50 index jumped 200 points and hit 14,880-mark

MARKET UPDATE:Sensex leaped 700 points at 49,900 and Nifty50 index jumped 200 points and hit 14,880-mark

Thursday, April 8, 2021

The Indian equity markets welcomed the decision of RBI governorShaktikanta Das to keep rates unchanged during the first bi-monthly monetary policy of FY22, along with holding the GDP growth rate steady at 10.5 percent for the new financial year. Despite the recent surge in Covid-19 cases, the governor said the central bank and the government are prepared to tackle the second wave. Soothed by the comments, the benchmark S&P BSE Sensex index leaped 700 points and hit the day's high of 49,900. The Nifty50, meanwhile, jumped nearly 200 points and hit 14,880 on the back of an across-the-board buying. Banking and financial stocks outperformed on Wednesday with the Nifty Bank, Private Bank, and PSU Bank indices settling higher in the range of 1.5 percent to 2 percent. The Nifty Financial Services, IT, Pharma, Metal, and Realty indices, on the other hand, gained up to 1.5 percent. Read more

MARKET UPDATE:Sensex up 500 points at 49,730 and Nifty testing the 14,850-mark

MARKET UPDATE:Sensex up 500 points at 49,730 and Nifty testing the 14,850-mark

Wednesday, April 7, 2021

The markets in India were trading at day's high, up 1 percent, in today's( late morning deals as the Reserve Bank of India kept the repo rate unchanged at 4 percent while maintaining the 'accommodative stance. The FY22 growth projection was also maintained at 10.5 percent. The S&P BSE Sensex traded 500 points, or 1 percent, up at 49,730 and the Nifty50 index was testing the 14,850-mark. Bharti Airtel, Nestle India, and Reliance Industries gained 2 percent, each, and were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 2 percent.

MARKET UPDATE:Sensex up by 350 points to 49,520 and Nifty topped 14,650-mark

MARKET UPDATE:Sensex up by 350 points to 49,520 and Nifty topped 14,650-mark

Tuesday, April 6, 2021

The benchmark indices in India rose over half a percent in early deals today(6th April 2021) after a volatile start to the session. The S&P BSE Sensex hovered around 49,520 levels, up 350 points. NTPC, Hindustan Unilever, Mahindra & Mahindra, and Dr. Reddy's climbed 1 percent, each, and were the top Sensex gainers. Meanwhile, the broader Nifty50 index topped 14,650-mark. Majority of the Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 1.4 percent.

MARKET UPDATE:Sensex fell 400 points to 49,620 and Nifty gave up the 14,800-mark

MARKET UPDATE:Sensex fell 400 points to 49,620 and Nifty gave up the 14,800-mark

Monday, April 5, 2021

The benchmark indices in India fell over half a percent in today's(5th March 2021) early deals amid worry over the rapidly increasing Covid-19 cases in the nation. The volatility index, India VIX, rose 6 percent to 21.2 levels. Among headline indices, the S&P BSE Sensex fell 400 points, or 0.8 percent, to 49,620 and the Nifty50 index gave up the 14,800-mark. Bajaj Finance, IndusInd Bank, and Bajaj Auto fell over 2 percent, each, and were the top Sensex laggards. The Nifty sectoral indices were largely in the red, with Nifty Bank, Nifty Financial Services, and Nifty Realty index falling over 1 percent, each. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.4 percent and 0.6 percent, respectively.

MARKET UPDATE:Sensex up 300 points at 49,820 levels and Nifty topped the 14,750-mark

MARKET UPDATE:Sensex up 300 points at 49,820 levels and Nifty topped the 14,750-mark

Thursday, April 1, 2021

The markets in India began the FY22 on a firm note, with the benchmark indices trading over half a per cent in Thursday's morning deals, on the back of favourable global cues. Among the headline indices, the S&P BSE Sensex was up 300 points at 49,820 levels and the Nifty50 index topped the 14,750-mark. HCL Tech, IndusInd Bank, and Titan rose 2 per cent each and were the top Sensex gainers. All the Nifty sectoral indices, barring the Nifty Realty index, were trading in the green. Nifty Auto, Nifty IT, and Nifty PSU Bank indexes were up 1 per cent, each. The broader markets, meanwhile, outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.8 per cent and 1.2 per cent higher, respectively.

MARKET UPDATE:Sensex fell 300 points to 49,830 levels and Nifty gave up the 14,800-mark

MARKET UPDATE:Sensex fell 300 points to 49,830 levels and Nifty gave up the 14,800-mark

Wednesday, March 31, 2021

The benchmark indices in India fell over half a percent in early deals of the last trading day of the financial year 2020-21 (FY21), amid mixed global cues. The S&P BSE Sensex fell 300 points to 49,830 levels and the broader Nifty50 index gave up the 14,800-mark. HDFC twins (HDFC and HDFC Bank) were the top Sensex laggards, both down over 2 percent, followed by PowerGrid, ICICI Bank, and Tech Mahindra (down over 1%) each. All the Nifty sectoral indices, barring the Nifty Pharma index, slipped into the red, with the Nifty IT index, down 1 percent. Meanwhile, the broader markets outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.2 percent higher, each.

Nazara Technologies lists at 81% premium; Investors can book profit

Nazara Technologies lists at 81% premium; Investors can book profit

Tuesday, March 30, 2021

Nazara Technologies made a stellar debut on the bourses today(30th March 2021) as the shares of the firms listed at Rs 1,990, an 81 percent over its issue price of Rs 1,101 on the National Stock Exchange (NSE). Meanwhile, on the BSE, the stock debuted at Rs 1,979, 79 percent above its issue price. Post-listing, it moved higher to 2,026.90, up 84 percent. At 10:02 am, Nazara Technologies was trading 74 percent higher against its issue price at Rs 1,917.75, after hitting a low of Rs 1,869.05 on the BSE. A combined around 1.4 million equity shares changed hands on the counter on the NSE and BSE so far. Nazara Technologies is an Indian gaming and sports media platform with a presence in India, North America, Africa, and the Middle East. The company derives revenues mainly from subscription fees paid by users for accessing gamified early learning content, as well as, from the eSports business. Read more

MARKET UPDATE:Sensex gained 650 points at 49,680 levels and Nifty reclaimed the 14,700-mark

MARKET UPDATE:Sensex gained 650 points at 49,680 levels and Nifty reclaimed the 14,700-mark

Tuesday, March 30, 2021

The benchmark indices in India traded over one percent higher in today's(30th March 2021) early deals as investors returned to their trading terminals after three days. Among the headline indices, the S&P BSE Sensex gained 650 points at 49,680 levels and the Nifty50 index reclaimed the 14,700-mark. Hindustan Unilever, Titan, Dr Reddy's, ONGC, and NTPC gained 2 percent, each, and were the top Sensex gainers. The majority of the Nifty sectoral indices were painted green, with the Nifty Metal index, up 2.8 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices traded 0.9 percent higher, each. Nazara Technologies shares are set to be listed on the stock exchanges today. The issue was subscribed 175.46 times, with the retail portion subscribed 75.29 times, the non-institutional investors' portion subscribed 389.89 times and the qualified institutional buyers segment attracted 103.77 subscriptions.

MARKET UPDATE: Sensex gained 250 points at 48,720 levels and Nifty topped the 14,450-mark

MARKET UPDATE: Sensex gained 250 points at 48,720 levels and Nifty topped the 14,450-mark

Friday, March 26, 2021

In today(26th March 2021) morning deals benchmark indices in India started the April series on a firm note and were trading over half a per cent on the back of favourable global cues. Among headline indices, the S&P BSE Sensex gained 250 points, or 0.6 per cent, at 48,720 levels and the Nifty50 index topped the 14,450-mark. Mahindra & Mahindra and Tech Mahindra rose 2 per cent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, with Nifty Bank, Nifty Auto, Nifty Financial Services, and Nifty Metal indices rising over 1 per cent, each. Shares of Kalyan Jewellers and Suroday Small Finance Bank will list at the bourses today. The IPO of Suryoday SFB was subscribed 2.37 times while that of Kalyan Jewellers was subscribed 2.61 times.

Are Indian markets among worst performers globally?

Are Indian markets among worst performers globally?

Thursday, March 25, 2021

The S&P BSE Sensex and the Nifty 50 have been among the worst-performing major frontline indices across the globe. if analysts and technical chartists are to be believed, there is still more pain left before the Indian markets start to look up again. The recent surge in Covid cases across the country, elevated commodity prices, and higher bond yields have punctured the market sentiment. From its 52-week high of 52,516.76 hits in intra-day deals on February 16, the S&P BSE Sensex has slipped over 3,000 points, or 6 percent till now. Only the ones in Turkey, Sri Lanka, the Philippines, and Hong Kong have fared worse during this period, data show. At the global level, the positive news of the $1.9 trillion fiscal stimuli in the US and the good progress of the vaccine campaign got overshadowed by the adverse effects of a rebound in the US dollar and rising US bond yields. Read more

MARKET UPDATE:Sensex fell 600 points at 48,580 levels and Nifty gave up the 14,400-mark

MARKET UPDATE:Sensex fell 600 points at 48,580 levels and Nifty gave up the 14,400-mark

Thursday, March 25, 2021

Bears tightened their grip today(25th March 2021), with the benchmark indices in India sliding over 1 percent in morning deals, ahead of the expiry of the March series derivative contracts. The S&P BSE Sensex fell 600 points, or 1.2 percent, at 48,580 levels and the Nifty50 index gave up the 14,400-mark. IndusInd Bank fell 2 percent and was the top Sensex laggard, followed by Axis Bank, State Bank of India, Bajaj Finance, and Maruti Suzuki (all down over 1%). Shares of Laxmi Organic listed at Rs 155.50 on the NSE, a premium of 20 percent over the issue price, while Craftsman Automation listed at 9 percent discount. All the Nifty sectoral indices, traded in the red, with the Nifty PSU Bank index, down 2 percent, bleeding the most. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 1.1 percent, each. Read more

MARKET UPDATE:Sensex fell 250 points to 49,750 levels and Nifty gave up the 14,750-mark

MARKET UPDATE:Sensex fell 250 points to 49,750 levels and Nifty gave up the 14,750-mark

Wednesday, March 24, 2021

The benchmark indices in India fell half a percent in today's(24th March 2021) early deals amid feeble global cues. Among the headline indices, the S&P BSE Sensex fell 250 points, or 0.5 percent, to 49,750 levels and the broader Nifty50 index gave up the 14,750-mark. ONGC, State Bank of India, ICICI Bank, and IndusInd Bank fell 1 percent each. Among other individual stocks, Rail Vikas Nigam fell over 7 percent after the company said the government will sell up to 15 cent stake in the company through an offer for sale. All the Nifty sectoral indices, barring the Nifty FMCG index, traded in the red, with the Nifty Metal index, down 1 percent, bleeding the most. The shares of Anupam Rasayan are set to list on the bourses today. The specialty chemicals company raised Rs 760 crore through its public issue which was subscribed 44 times.

MARKET UPDATE:Sensex gained 200 points, at 50,000 levels and Nifty traded above the 14,800-mark

MARKET UPDATE:Sensex gained 200 points, at 50,000 levels and Nifty traded above the 14,800-mark

Tuesday, March 23, 2021

The benchmark indices in India ticked up in today's(23rd March 2021) morning deals ahead of the Supreme Court's verdict on a batch of pleas by various trade associations seeking an extension of loan moratorium in view of the Covid-19 pandemic. Among headline indices, the S&P BSE Sensex gained 200 points, or 0.4 percent, at 50,000 levels, and the Nifty50 index traded above the 14,800-mark. IndusInd Bank, Axis Bank, HCL Tech, ICICI Bank, Titan, and Maruti Suzuki gained over 1 percent each and were the top Sensex gainers. The Nifty sectoral indices were painted green, led by the Nifty IT index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.6 percent and 1 percent higher, respectively.

Bulls fought back to lift indices over a per cent higher

Bulls fought back to lift indices over a per cent higher

Friday, March 19, 2021

Today (19th March 2021) bulls fought back to lift indices over a percent higher. A drop in the US Treasury yield and a GDP growth upgrade by Moody's for India helped the markets snap a 5-day losing streak. Tracking sluggishness in the global markets, the domestic equity markets opened in a sea of red with the frontline indices dropping over a percent. The dip was, however, quickly bought-into, pushing markets in the positive territory in less than two hours into the trade. Mood in the global markets changed after the US Treasury yields slipped to 1.5 percent from Thursday's high of 1.74 percent. Back home, Moody's Analytics said India's economy is likely to grow by 12 percent in CY2021 following a 7.1 per cent contraction last year as near-term prospects have turned more favourable. Read more

MARKET UPDATE:Sensex trading around 48,940 levels, down 275 points and Nifty gave up the 14,400-mark

MARKET UPDATE:Sensex trading around 48,940 levels, down 275 points and Nifty gave up the 14,400-mark

Friday, March 19, 2021

In the Indian markets today (19th March 2021), the benchmark indices fell over half a percent in morning deals, but off the early lows, following weak global cues amid a spike in bond yields. The S&P BSE Sensex was trading around 48,940 levels, down 275 points. The index hit an intra-day low of 48,587, earlier in the session. Meanwhile, the broader Nifty50 index also gave up the 14,400-mark. ONGC (down 4%) was the top Sensex laggard, followed by Larsen & Toubro and Tech Mahindra (both down 2%). Among other individual stocks, Future Retail shares tumbled 10 percent after the Delhi High Court upheld the Emergency Award that Amazon had won against the Future Retail-RIL deal. The Nifty sectoral indices were painted red, with the Nifty PSU Bank index, down 1.9 percent, bleeding the most. The broader markets fared worse than their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 1.4 percent and 2 percent down, respectively. Read more

Sensex has sunk over 2,300 points in five sessions

Sensex has sunk over 2,300 points in five sessions

Thursday, March 18, 2021

Sensex tanked close to 800 points today after initially starting the day in the green. Sensex has now sunk over 2,300 points in five sessions and is inching closer towards its first technical correction since the crash of last March caused by the COVID-19 pandemic. To back its determination to keep monetary policy accommodative, the US Fed also hiked the limit for overnight reverse repo auction exposure to $80 billion from $30 billion earlier to assuage the mayhem in the US Treasury bond market. Yet the market does not seem convinced. The major factors driving the skittishness in the Indian equity market are: Read more

MARKET UPDATE:Sensex zooms 440 points at 50,240 levels and Nifty hovered above 14,850-mark

MARKET UPDATE:Sensex zooms 440 points at 50,240 levels and Nifty hovered above 14,850-mark

Thursday, March 18, 2021

The benchmark indices in India traded nearly 1 per cent higher in today's(18th March,2021) early deals amid firm global cues after the Federal Reserve pledged to keep monetary policy and rates unchanged and projected a rapid jump in US economic growth this year. The S&P BSE Sensex gained 440 points, or 0.9 per cent, at 50,240 levels and the Nifty50 index hovered above 14,850-mark. All the Nifty sectoral indices were trading with gains, led by Nifty Metal index, up 2 per cent.

MARKET UPDATE:Sensex gained 150 points to 50,600 levels and Nifty reclaimed the 15,000-mark

MARKET UPDATE:Sensex gained 150 points to 50,600 levels and Nifty reclaimed the 15,000-mark

Tuesday, March 16, 2021

The Indian markets in India traded with slim gains in today's(16th March 2021) early deals, on the back of positive global cues. Among the headline indices, the S&P BSE Sensex gained 150 points to 50,600 levels and the Nifty50 index reclaimed the 15,000-mark it had given up in the previous session. Bharti Airtel, Titan, Asian Paints, Dr. Reddy's, and UltraTech Cement rose 1 percent, each, and were the top Sensex gainers. Among other individual stocks, Tata Communications slipped over 7 percent as the offer for sale (OFS) to divest the government’s shareholding in the company opened for institutional investors at the floor price of Rs 1,161 per share. The Nifty sectoral indices were mixed, with the Nifty IT index, up 0.4 percent, leading the gainers. Read more

Government to sell remaining stake in Delhi, Mumbai, Bangalore, Hyderabad airports

Government to sell remaining stake in Delhi, Mumbai, Bangalore, Hyderabad airports

Monday, March 15, 2021

The aviation ministry is preparing to sell its stakes in companies that operate airports in Delhi, Mumbai, Bengaluru, and Hyderabad, a move that will help achieve the government’s target of raising ₹20,000 crores from monetisation of assets in FY22. The ministry has started the process to fetch approvals, including those from the cabinet, to speed up the sale process. “The aviation ministry has an asset monetisation target of ₹20,000 crores for FY22. While privatisation of airports will contribute to that target, this move could become the largest contributor,” said an official who did not want to be named. Read more

MARKET UPDATE:Sensex fell 500 points to 50,280 levels and Nifty gave up the 14,900-mark

MARKET UPDATE:Sensex fell 500 points to 50,280 levels and Nifty gave up the 14,900-mark

Monday, March 15, 2021

The benchmark indices in India added to their early losses and were trading over 1 percent lower in today's(15th March 2021) morning deals. Meanwhile, the volatility index, India VIX, ticked up 5 percent to 22.9 levels. The S&P BSE Sensex fell 500 points, or 1 percent, to 50,280 levels and the Nifty50 index gave up the 14,900-mark. Bajaj Finance, Bajaj Finserv, HDFC, State Bank of India, and HDFC Bank fell over 1 percent each and were the top Sensex laggards. The Nifty sectoral indices were painted red, with the Nifty Bank index, down 1.8 percent, bleeding the most. In the broader market, the S&P BSE MidCap and SmallCap indices were down 0.5 percent and 0.4 percent, respectively. Read more

Maharashtra, TN, Punjab, MP, Delhi, Gujarat and Karnataka - displaying an upward trajectory in the number of fresh Covid-19 cases

Maharashtra, TN, Punjab, MP, Delhi, Gujarat and Karnataka - displaying an upward trajectory in the number of fresh Covid-19 cases

Friday, March 12, 2021

India reported 23,285 fresh Covid-19 cases yesterday pushing the overall tally to 11,308,846, according to Worldometer. The death toll from the deadly infection jumped to 158,326. The country continues to be second-most-affected globally and ranks 11th among worst-hit nations by active cases. The five most affected states are Maharashtra, Kerala, Karnataka, Andhra Pradesh, and Tamil Nadu. The total number of Covid-19 vaccine doses administered in the country crossed 26,164,000. Coronavirus cases rise unabated across the globe with 119,097,578 infected by the deadly virus. While 94,635,198 have recovered, 2,640,868 have died so far. The US remains the worst-hit country with 29,922,718, followed by India, Brazil, Russia, and the United Kingdom. However, in terms of the total number of active cases, the US tops the charts, followed by France, Brazil, UK, and Belgium.

Demand-driven rise in crude oil prices is good for equity markets

Demand-driven rise in crude oil prices is good for equity markets

Wednesday, March 10, 2021

A rise in oil prices – if driven by a surge in demand/consumption – is a positive for equity markets, according to analysts. Analysts at Jefferies estimate that every $10 per barrel (bbl) rise in the Brent oil price raises India’s trade deficit by around 40-50 basis points (bps). Yet, they believe that the equity markets should be able to digest the recent spurt. “A $70/bbl of crude would have a 100-120 bps impact on current account deficit (CAD). Improving domestic demand on a low base would drive CAD to 1.5 percent in fiscal 2021-22 (FY22) versus a 0.7 percent surplus this year. However, we still expect the balance of payments (BoP) to be a positive around 1.2 percent as capital account (FDI, ECB and NRI deposits) should see over $80 billion surpluses,” wrote Mahesh Nandurkar, managing director at Jefferies in a recently co-authored note with Abhinav Sinha. Read more

MARKET UPDATE:Sensex rose 250 points to 51,280 levels and Nifty topped the 15,150-mark

MARKET UPDATE:Sensex rose 250 points to 51,280 levels and Nifty topped the 15,150-mark

Wednesday, March 10, 2021

The markets in India traded over half a percent higher in today's(10th March 2021) early deals, tracking similar trends from other Asian markets, ahead of the weekly options expiry. Among the headline indices, the S&P BSE Sensex rose 250 points to 51,280 levels and the broader Nifty50 index topped the 15,150-mark. IndusInd Bank rose 3 percent and was the top Sensex gainer, followed by Mahindra & Mahindra, Bajaj Finance, Sun Pharma, State Bank of India, and Titan (all up 1% each). The Nifty sectoral indices traded with gains, led by the Nifty Realty index, up 1.5 percent. Meanwhile, the broader markets outran their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.8 percent higher, each.

BPCL tanks 6% after BPCL Trust offloads stake in firm

BPCL tanks 6% after BPCL Trust offloads stake in firm

Tuesday, March 9, 2021

Shares of BPCL dipped 6 percent to Rs 438 on the National Stock Exchange (NSE) in intra-day trade today(9th March 2021) after BPCL Trust for Investment in Shares (BPCL Trust) sold up to 7 percent of its stake in state-owned energy company through a block deal. Till 09:21 am, around 153.66 million equity shares, representing 7.08 percent of total equity, of BPCL had changed hands on the NSE. On the BSE, around 7.5 million equity shares or 0.34 percent equity of the state-owned company had changed hands. On Monday, BPCL informed the stock exchanges that, a sub-committee of the board of directors of the company has approved the sale of BPCL equity shares which are held by the BPCL Trust for Investment in shares through accelerated book built offering of equity shares on the screen-based trading platform of the stock exchanges. Read more

Spike in Covid-19 cases takes toll on business recovery:NIBRI

Spike in Covid-19 cases takes toll on business recovery:NIBRI

Tuesday, March 9, 2021

Nomura Global Markets Research flagged that the sharp resurgence in pandemic cases in some states and the expected spike due to upcoming elections in five states may have a deeper effect if mobility gets affected. The Nomura India Business Resumption Index (NIBRI) fell to 95.2 for the week ended March 7 versus 98.5 in the week before as both the Apple driving index and the Google retail and recreation indices took a hit while power demand and labour participation rates fell as Covid cases rose. “However, in our view, this threatens near-term normality equilibrium, rather than triggering more serious economic damage,” the research firm said. Read more

MARKET UPDATE:Sensex rose 400 points to 50,860 levels and the Nifty holding above the 15,000-mark

MARKET UPDATE:Sensex rose 400 points to 50,860 levels and the Nifty holding above the 15,000-mark

Tuesday, March 9, 2021

The Indian benchmark indices traded over half a percent higher in today's(9th March 2021) early deals, tracking similar trends in other Asian markets. The S&P BSE Sensex rose 400 points to 50,860 levels and the Nifty50 was comfortably holding above the 15,000-mark. HDFC Bank and UltraTech Cement gained 2 percent, each, and were the top Sensex gainers. Among other individual stocks, BPCL dipped 6 percent after media reports said that BPCL Trust for Investment in Shares (BPCL Trust) will sell up to 4 percent of its shares in the company. The Nifty sectoral indices traded in the green, led by the Nifty Bank index, up 1.4 percent.

RBI governor is optimistic about the growth prospects of the economy

RBI governor is optimistic about the growth prospects of the economy

Monday, March 8, 2021

RBI governor Shaktikanta Das in an interview with TOI said that savers can look at various small savings schemes for better returns while asserting that inflation management remains a top priority. He said equity investors must be judicious and not get carried away by short-term trends. Growth impulses are gradually and steadily getting broad-based. The high-frequency indicators such as steel consumption, PMI for manufacturing and services are expanding, GST collections and e-way bills are showing improvement. Earlier, there was an impression that it was due to pent-up and festival demand. But now, it is genuine demand that is visible. The vaccination drive is giving greater confidence to consumers, so the demand is expected to sustain. The only downside risk is the recent spike in the number of Covid cases in certain parts of the country. With daily vaccination numbers going up, we should be able to contain a further spike. Read more

MARKET UPDATE:Sensex rose 450 points to 50,880 levels and the Nifty reclaimed the psychological level of 15,000

MARKET UPDATE:Sensex rose 450 points to 50,880 levels and the Nifty reclaimed the psychological level of 15,000

Monday, March 8, 2021

The benchmark indices in India traded over half a percent higher in today's(8th March 2021) early deals, mirroring the firm trend in other Asian markets. Among the headline indices, the S&P BSE Sensex rose 450 points to 50,880 levels and the Nifty50 index reclaimed the psychological level of 15,000. ONGC (up 4%) was the top Sensex gainer, followed by State Bank of India, NTPC, Mahindra & Mahindra, and HDFC Bank (all up 1%). The Nifty sectoral indices were painted green, led by the Nifty PSU Bank index, up 3 percent.

MARKET UPDATE:Sensex gained 350 points to 50,700 levels and Nifty reclaimed the psychological level of 15,000

MARKET UPDATE:Sensex gained 350 points to 50,700 levels and Nifty reclaimed the psychological level of 15,000

Wednesday, March 3, 2021

The markets in India traded over half a percent higher in today's(3rd March 2021) early deals after opening on a firm note for the third consecutive day. The S&P BSE Sensex gained 350 points to 50,700 levels. The broader Nifty50 index, meanwhile, reclaimed the psychological level of 15,000 and was holding above that mark. HDFC, ONGC, PowerGrid, NTPC, and Infosys rose 1 percent, each, and were the top Sensex gainers. Among other individual stocks, IRCON slid 6 percent as the offer for sale for up to 16 percent government stake at a floor price of Rs 88 per share in the railway PSU opened today. The Nifty sectoral indices traded in the green, led by the Nifty Metal index, up 2 percent.

India's economy is on an "upswing" but it might take longer to become a USD 5 trillion economy due to pandemic disruptions:Panagariya

India's economy is on an "upswing" but it might take longer to become a USD 5 trillion economy due to pandemic disruptions:Panagariya

Tuesday, March 2, 2021

India's economy is on an "upswing" and the government's plans for increased spending comes in the backdrop of pro-growth reforms, former Niti Aayog Vice-Chairman Arvind Panagariya said today(2nd March 2021) even as he opined that it might take longer to become a USD 5 trillion economy due to the coronavirus pandemic-induced disruptions. Panagariya, who is currently a Professor of Economics at the Columbia University, said the country's GDP growth in October-December 2020 quarter returned to a hair's breadth above its level a year ago. "At 0.4 percent, the year-on-year growth in GDP may seem low but given the large negative growth during the preceding two quarters ((-)24.4 percent during April-June and (-)7.3 percent during July-Sept), the quarter-on-quarter growth momentum is very strong," he said. Read more

India's exports marginally declined 0.25 percent while imports grew by 6.98 percent in February

India's exports marginally declined 0.25 percent while imports grew by 6.98 percent in February

Tuesday, March 2, 2021

India's exports marginally declined 0.25 percent to $27.67 billion in February while imports grew by 6.98 percent to $40.55 billion during the month, according to provisional data released by the commerce ministry today(2nd March 2021). The trade deficit widened to $12.88 billion in February as compared to $10.16 billion in the year-ago period, the ministry said in a statement. The exports during April-February 2020-21 period stood at $255.92 billion. In the same period a year ago, it was at $291.87 billion, showing negative growth of 12.32 percent. Imports during the April-February period too dipped 23 percent to $340.88 billion. In February 2021, Oil imports were $8.99 billion, as compared to $10.78 billion in February 2020, a decline of 16.63 percent. Oil imports in April-February 2020-21 stood at $72.08 billion, as compared to $120.50 billion, showing a decline of 40.18 per cent. Read more

MARKET UPDATE:Sensex 540 points up at 50,390 and Nifty holding above the 14,900-mark

MARKET UPDATE:Sensex 540 points up at 50,390 and Nifty holding above the 14,900-mark

Tuesday, March 2, 2021

The markets in India extended their opening gains and were trading over 1 percent higher in today's(2nd March 2021) morning deals. The S&P BSE Sensex traded 540 points up at 50,390 and the Nifty50 index was holding above the 14,900-mark. Bajaj Finance rose 2 percent and was the top Sensex gainer, followed by Tech Mahindra, HDFC Bank, Infosys, and Mahindra & Mahindra (all up 1%). Among other individual stocks, BPCL rose 4 percent in early deals after the company said it will exit Numaligarh refinery in Assam by selling its entire stake to a consortium of Oil India Ltd and Engineers India Ltd for Rs 9,876 crore. All the Nifty sectoral indices, barring the Nifty Metal index, traded higher, led by the Nifty IT index, up 1.3 percent.

GDP and GVA giving conflicting signals on economic recovery during FY21?

GDP and GVA giving conflicting signals on economic recovery during FY21?

Monday, March 1, 2021

In India, the GDP and the gross value added (GVA) seem to be giving conflicting signals on economic recovery during FY21. This happens because of the definition of these two numbers. For instance, GDP was projected to fall by 8 percent in the fiscal year 2020-21 (FY21) by the second advance estimates (AE), sharper than 7.7 percent by the first one. On the other hand, GVA is projected to fall 6.5 percent in the second estimate. The first estimates pegged the figure at less than 7.2 percent. Also, while GDP was projected to fall 1.1 percent in Q4, GVA was forecast to grow by 2.5 percent in the same quarter by the second AE. This mismatch happens due to a change in the definition of GDP in 2015 with effect from 2012-13 on the base year 2011-12. The revised method of GDP did not only change the base year, but also the way it is computed. Read more

Automobile industry records growth for the 7th straight month

Automobile industry records growth for the 7th straight month

Monday, March 1, 2021

In the Indian market passenger vehicle wholesale continued to grow year-on-year for the seventh straight month in February as demand for personal mobility remains strong during the pandemic despite soaring fuel prices. About 308,000 cars and SUVs were dispatched from factories to showrooms during February, a 23% growth over the preceding year, industry data show. Market leader Maruti Suzuki sold 144,700 passenger vehicles during the month, a year-on-year growth of 8%. Its market share improved by 116 basis points over January to 46.9% but was considerably lower than 53.3% achieved in February 2020. Hyundai Motor and Tata Motors sold 51,600 and 27,224 units during the month, growing by 29% and 119% over last year. Read more

MARKET UPDATE:Sensex rallied 600 points to 49,750 levels and the Nifty topped the 14,700-mark

MARKET UPDATE:Sensex rallied 600 points to 49,750 levels and the Nifty topped the 14,700-mark

Monday, March 1, 2021

The benchmark indices in India made a firm start to the first trading session of March, up over 1 percent, in early deals, on the back of upbeat global mood and the Q3 GDP print. The S&P BSE Sensex rallied 600 points to 49,750 levels and the Nifty50 index topped the 14,700-mark. ONGC, PowerGrid, and IndusInd Bank rose over 3 per cent, each, and were the top Sensex gainers. The Nifty sectoral indices were painted green, with the Nifty IT index, up 1.6 percent, leading the gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 1 percent and 1.3 percent, respectively.

Private sector investments will pick up soon, say experts

Private sector investments will pick up soon, say experts

Saturday, February 27, 2021

Investments in India grew after a gap of three quarters, driven by the government, while demand contracted for the third consecutive quarter during October-December (Q3) of the financial year 2020-21 (FY21). Even then, investments remained subdued, growing by a marginal 2.56 percent in Q3FY21. It had started declining even before the pandemic started impacting India’s economy. Gross fixed capital formation (GFCF) contracted by 6.48 percent in Q4FY20. It plunged in Q1FY21 before returning to earlier levels in Q2. according to experts investments in Q3 were driven purely by the government. This is backed up by the data from the Centre for Monitoring Indian Economy (CMIE), which showed that investments in new projects declined to Rs 0.91 trillion in Q3, compared with Rs 1.15 in Q2. Investment activity reverted to growth, supported by high levels of public investment spending, said Rahul Bajoria, chief economist at Barclays India. Read more

India's GDP grows 0.4% in Q3 after shrinking for two quarters: NSO

India's GDP grows 0.4% in Q3 after shrinking for two quarters: NSO

Saturday, February 27, 2021

GDP of India returned to growth (0.4 percent)in October-December after two-quarters of contraction, the National Statistical Office (NSO) said yesterday (26th Feb.2021). In 2020-21, GDP is set to fall 8 percent against an earlier estimate of 7.7 percent, the release said. This is a “reflection of further strengthening of V-shaped recovery”, which began in Q2 of 2020-21, especially after a large GDP contraction in Q1 due to the lockdown, the Ministry of Finance said in a release. However, the cheer may not last because GDP is likely to fall 1.1 percent in Q4 if we triangulate the data available for the first three quarters with the annual estimate. A more surprising fact is that even this likely contraction in Q4 needs 29 percent real growth in government spending. Expenditure by the government fell in Q2 and Q3 when the private corporate and informal sectors in the economy were in pandemic pain, the data shows. Read more

What's behind Sensex's 1,939-point crash today

What's behind Sensex's 1,939-point crash today

Friday, February 26, 2021

amid a global equity market rout. Benchmark indices tumbled over 4 percent in the intra-day trade with the S&P BSE Sensex sinking over 2,149 points while the Nifty50 tumbled over 629 points. The indices ended near the lowest point of the day, at 49,100 and 14,529 levels, respectively, down 1,939 points and 568 points or 3.8 percent. A rise in commodity prices has fanned inflation risks, pushing bond yields higher. That apart, reports that the United States launched airstrikes in Syria on Thursday, targeting facilities near the Iraqi border further dented global mood. Going forward, analysts expect the markets to consolidate after a sharp run since March in the backdrop of near-term headwinds. US Treasury yields vaulted to their highest in a year on expectations of a strong economic expansion and related inflation. Back home, the 10-year government bond yield jumped to 6.18 percent on Thursday, February 25. Read more

India may beat recession even as new virus cases loom

India may beat recession even as new virus cases loom

Friday, February 26, 2021

some of the gains. However, Data shows gross domestic product expanded 0.6% in the three months ended December, after contracting for two consecutive quarters, according to the median forecast in a Bloomberg survey of economists. That will help Asia’s third-largest economy exit an unprecedented recession. India will become one of the few major economies to post growth in the last quarter of 2020, with any improvement in the economy’s performance inversely tied to a drop in Covid-19 infections. But the nation has seen an uptick in cases over the last few weeks raising the risk of a new round of localised lockdowns. New curbs on the movement of people or restrictions on businesses are a risk to the nascent recovery, given that gains in the October-December quarter probably came from the reopening of the economy, which is primarily driven by domestic consumption. The government also boosted spending in the final months of last year to spur growth. Read more

MARKET UPDATE:Sensex tumbled 700 points and hovered around 50,340-mark ;Niftyfell below the 14,900 level

MARKET UPDATE:Sensex tumbled 700 points and hovered around 50,340-mark ;Niftyfell below the 14,900 level

Friday, February 26, 2021

The markets in India dropped over 1 percent in today's(26th Feb.2021) morning deals, tracking a similar feeble trend in the global markets amid continued sell-off in bond markets. Volatility index, India VIX, meanwhile shot up 10 percent. The S&P BSE Sensex tumbled 700 points and hovered around 50,340-mark while the Nifty50 index fell below the 14,900 level. ICICI Bank, IndusInd Bank, and Axis Bank fell 3 percent each and were the top Sensex laggards. The Nifty sectoral indices were painted red, with the Nifty Bank index, down over 2 percent, bleeding the most. The damage was relatively contained in the broader markets, where the S&P BSE MidCap and SmallCap indices were trading 0.5 percent and 0.3 percent lower, respectively. RailTel Corporation of India will list its shares at the bourses today. The issue price has been fixed at Rs 94 per share.

India's fiscal position to remain weak: Moody's

India's fiscal position to remain weak: Moody's

Thursday, February 25, 2021

According to the Global rating agency, Moody's India's weak fiscal position will remain a key credit challenge in 2021. Also, the prospects for fiscal consolidation remain weak. Meanwhile, Icra, Moody's Indian affiliate, said it expects a considerable rebound in India's economic growth in the fiscal year ending March 31, 2022 (FY22) on the back of higher central government spending, and a pick-up, albeit uneven, in consumption. Overall, Icra projects that real GDP will rise 10.5 percent in FY22 and nominal GDP by 14.5 percent for fiscal 2022 as the pandemic recedes. Moody's said the central government's fiscal deficit for FY21 and FY22 should be lower than projected. This is on the back of stronger revenue generation in the fourth quarter of fiscal 2021 and higher nominal GDP growth in fiscal 2022. Read more

MARKET UPDATE:Sensex zoomed 400 points to 51,210 levels and Nifty reclaimed the 15,100-mark

MARKET UPDATE:Sensex zoomed 400 points to 51,210 levels and Nifty reclaimed the 15,100-mark

Thursday, February 25, 2021

The markets in India traded nearly 1 percent higher in Today's(25th Feb.2021) morning deals ahead of the February series derivative contracts expiry. Among the headline indices, the S&P BSE Sensex zoomed 400 points to 51,210 levels and the Nifty50 index reclaimed the 15,100-mark. Axis Bank rose 3 percent and was the top Sensex gainer after the Irdai gave its approval for the acquisition of up to 12 percent stake in Max Life Insurance by the bank and its subsidiaries. Max Financial, meanwhile, rallied 10 percent in intra-day deals. Meanwhile, Nureca listed at Rs 635 apiece, a premium of 59 percent against the issue price of Rs 400. The Nifty sectoral indices were painted green, with the Nifty Private Bank index, up 2 percent, leading the way.

National Stock Exchange halted trading after glitch freezes stock prices

National Stock Exchange halted trading after glitch freezes stock prices

Wednesday, February 24, 2021

The National Stock Exchange (NSE), India’s largest stock exchange, today(24th Feb.2021) abruptly shut its cash and derivatives segment following a glitch that froze stock prices. Trading was halted at 11:40 am. Stock and index prices had stopped updating from 10:08 am, said market participants. "NSE has multiple telecom links with two service providers to ensure redundancy and we have received communication from both the telecom service providers that there are issues with their links due to which there is an impact on NSE system. We are working on restoring the systems as soon as possible. In view of the above all the segments have been closed at 11.40 and will be restored as soon as the issue is resolved,” said a spokesperson of the exchange. Indices turned volatile in the afternoon trade after the National Stock Exchange (NSE) resumed trading after an over three-hour-long halt due to a technical glitch. Markets shall remain open for trade till 5 PM today

MARKET UPDATE: Sensex traded around 49,950 levels, up 200 points, and Nifty holding above the 14,750-mark

MARKET UPDATE: Sensex traded around 49,950 levels, up 200 points, and Nifty holding above the 14,750-mark

Wednesday, February 24, 2021

The benchmark indices in India traded higher in today's(24th February 2021) volatile early deals, with metal stocks continuing their rally. The S&P BSE Sensex traded around 49,950 levels, up 200 points, or 0.4 percent, and the broader Nifty50 index was holding above the 14,750-mark. ONGC, Bajaj Finance, and Axis Bank (all up over 1%) led the way for the Sensex gainers, while tech stocks TCS and Infosys slid 1 percent, each. Among other individual stocks, Tata Consumer Products surged 4 percent and hit a fresh lifetime high after it was announced that it will replace Gail India in the benchmark Nifty 50 index, effective from March 31. All the Nifty sectoral indices, barring the Nifty IT index-down 0.8 percent, traded with gains.

India to clear 45 investments from China

India to clear 45 investments from China

Monday, February 22, 2021

India may clear 45 investment proposals from China, which are likely to include those from Great Wall Motor and SAIC Motor Corp, according to government and industry sources, as military tensions between the two countries ease at the disputed border. The proposals have been held up since last year after India tightened controls on Chinese investment in the country in retaliation against alleged Chinese troop incursions in the western Himalayan region. China blamed Indian troops for the standoff. About 150 investment proposals from China worth more than $2 billion were stuck in the pipeline. Companies from Japan and the U.S. routing investment through Hong Kong were also caught in the cross-fire as an inter-ministerial panel led by the home ministry increased scrutiny of such proposals. Read more

MARKET UPDATE: Sensex fell to 50,480 levels, down 400 points and the Nifty gave up the 15,000-mark

MARKET UPDATE: Sensex fell to 50,480 levels, down 400 points and the Nifty gave up the 15,000-mark

Monday, February 22, 2021

The markets in India slid in the early deals of today's(22nd February 2021) volatile session, with public sector banks being the top drags. Among the headline indices, the S&P BSE Sensex fell to 50,480 levels, down 400 points and the Nifty50 index also gave up the 15,000-mark shortly after reclaiming it in the opening deals. IndusInd Bank, Bajaj Auto, Larsen & Toubro, PowerGrid, and HDFC were all down over 1 percent. The Nifty sectoral indices, barring the Nifty Metal index, were painted red. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.13 percent and 0.3 percent, respectively.

250-billion-rupee govt fund for finishing stalled housing projects begins to pay off

250-billion-rupee govt fund for finishing stalled housing projects begins to pay off

Friday, February 19, 2021

A 250-billion-rupee fund set up by GOI to complete stalled housing projects is set to deliver its first finished apartments in 2021, offering a template for a problem that has washed out savings of thousands of home buyers and bankrupted developers. The fund will hand over some 16 projects or more than 4,000 homes in the financial year starting April 1, said Irfan A. Kazi, chief investment officer at SBICAP Ventures Ltd., the government-appointed manager of the alternative investment fund. The ‘Special Window for Completion of Construction of Affordable and Mid-Income Housing Projects’ (SWAMIH) fund was announced in November 2019.

SBI Cards m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel

SBI Cards m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel

Friday, February 19, 2021

With a market-capitalisation (m-cap) of Rs 1.02 trillion, the State Bank of India-arm SBI Cards and Payment Services today(19th February 2021) stood at 34th position in the overall m-cap ranking, BSE data showed. The firm’s m-cap is now more than that of Tata Motors, Shree Cement, and JSW Steel. With the government's push towards digitalisation, coupled with developments in e-commerce and growth in POS infrastructure, India is gradually shifting towards a cashless economy. This and recovery from the Covid-19 pandemic are some of the factors fuelling the rally in the stock price, analysts say. “With the focus now on growth, SBI Cards will be an early beneficiary as the economy recovers on the back of being a play on rising discretionary spends and non-cash economy, the broad reach of parent SBI, under-utilised captive Banca potential, and leadership in co-branded cards,” says an expert. Read more

MARKET UPDATE: Sensex fell 250 points to 51,080 levels and the Nifty gave up the 15,100-mark

MARKET UPDATE: Sensex fell 250 points to 51,080 levels and the Nifty gave up the 15,100-mark

Friday, February 19, 2021

The markets in India slid nearly half a percent in today's(19th February 2021) early deals, amid subdued global trends, although gains in Reliance Industries and public sector banks helped benchmark indices cap losses. The S&P BSE Sensex fell 250 points to 51,080 levels and the Nifty50 index gave up the 15,100-mark. PowerGrid and ICICI Bank declined 2 percent, each, and were the top Sensex laggards, followed by NTPC, Bajaj Auto, and State Bank of India (all down 1%). On the other hand, Reliance Industries, and Hindustan Unilever ticked up over 1 percent, each. The majority of the Nifty sectoral indices were painted red, although the Nifty PSU Bank index bucked the trend and was up 1.2 percent. Mahindra CIE Automotive, Asian Tea & Exports, Binani Industries, Chromatic India, Sunedison Infrastructure, Uniply Decor, Uniply Industries, and Uniworth Securities are scheduled to announce their quarterly earnings today.

Nomura ups rating on Indian equities to overweight in Asia

Nomura ups rating on Indian equities to overweight in Asia

Thursday, February 18, 2021

Nomura has raised its rating on Indian equities to ‘overweight’ in its Asia ex-Japan portfolio. Nomura is now much less concerned about two of the central issues that plagued India – India’s limited fiscal space and vulnerability from Covid-19. The recent developments, it said, have surprised them. However, Nomura does caution that the execution of Budget and other policy proposals remains one of the key risks. “A number of recent positive developments in India lead us to change our stance to an Overweight (from Neutral) in our regional Asia-ex-Japan (AeJ) allocation. We view India as a counterweight to North Asia as a large liquid market that – despite its strong run recently – does provide a hedge in portfolios. We are modestly reallocating to India from Korea – although we remain Overweight on Korea (alongside China and Indonesia),” wrote Chetan Seth and Nirransh Jain of Nomura in a February 17 co-authored report. Read more

MARKET UPDATE: Sensex up 60 points at 51,760 levels and the Nifty holding above the 15,200-mark

MARKET UPDATE: Sensex up 60 points at 51,760 levels and the Nifty holding above the 15,200-mark

Thursday, February 18, 2021

The benchmark indices in India traded flat with a positive bias in today's(18th February 2021) early deals, ahead of the weekly options expiry, on the back of mixed global cues. Among the headline indices, the S&P BSE Sensex was up 60 points at 51,760 levels and the Nifty50 was holding above the 15,200-mark. ONGC gained 3 percent and was the top Sensex gainer, followed by State Bank of India which rose 2 percent. On the other hand, ICICI Bank and Bajaj Finance fell over 1 percent, each. The Nifty sectoral indices traded mixed, with the Nifty PSU Bank index, up 3 percent, leading the gainers. Ambuja Cements, Enkei Wheels, RCL Retail, Rollatainers and Twinstar Industries are scheduled to announce their quarterly earnings today.

Sharper-than-expected economic recovery can fuel further rally in domestic cyclicals, industrials, and financials

Sharper-than-expected economic recovery can fuel further rally in domestic cyclicals, industrials, and financials

Wednesday, February 17, 2021

Investors are now betting big on cyclical recovery after a sharp economic contraction with most of the related stocks doing well at the bourses after playing safe during the initial phase of the pandemic in 2020 and sticking to defensive plays such as pharmaceuticals, fast-moving consumer goods (FMCG) and information technology (IT). Till June-July, defensive sectors like pharma and FMCG were leaders, followed by IT, as investors wanted to play safe given the uncertainty around the pandemic, its impact on the economy, and the fortunes of India Inc, analysts say. From August – September, cyclical like auto and banking & financials picked up the pace. Post budget, infrastructure, industrials, and stocks of public sector undertakings (PSUs) have rallied. Read more

MARKET UPDATE: Sensex fell 200 points at 51,870, and Nifty gave up the 15,300-mark

MARKET UPDATE: Sensex fell 200 points at 51,870, and Nifty gave up the 15,300-mark

Wednesday, February 17, 2021

The markets in India slid in today's(17th February 2021) early deals after opening lower, tracking similar cues from other Asian markets. The S&P BSE Sensex fell 200 points at 51,870, and the Nifty50 index gave up the 15,300-mark. Nestle fell 3 percent post the December quarter results and was the top Sensex laggard, followed by ONGC, HDFC, and PowerGrid (down 1 percent, each). The majority of the Nifty sectoral indices, barring two, were trading in the red, with the Nifty Financial Services index dipping 0.6 percent. The broader markets, meanwhile, outperformed their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.3 percent and 0.4 percent up, respectively. Pasupati Spinning, Sanghvi Forging and Engineering, SR Industries, Uniply Decor, and Uniply Industries are set to announce their quarterly earnings today.

SC upholds validity of e-voting for winding up Franklin Templeton's 6 MFs

SC upholds validity of e-voting for winding up Franklin Templeton's 6 MFs

Friday, February 12, 2021

The Supreme Court today(12th Feb.2021) upheld the validity of the e-voting process for winding up of six mutual fund schemes of Franklin Templeton and said disbursal of funds to unitholders will continue. A bench of justices S A Nazeer and Sanjiv Khanna, while rejecting the opposition by some unitholders to the e-voting process, said disbursal of funds has to be done as per the earlier order of the apex court. The top court had on February 2 ordered that Rs 9,122 crore be disbursed within three weeks to the unitholders of Franklin Templeton's six mutual fund schemes which are proposed to be wound up. It had said that disbursal of money would be done in proportion to unitholders' interest in the assets. Earlier, the apex court had asked the Securities and Exchange Board of India (SEBI) to appoint an observer for overseeing the e-voting process. Read more

MARKET UPDATE: Sensex traded 200 points up at 51,720, Nifty topped 15,200

MARKET UPDATE: Sensex traded 200 points up at 51,720, Nifty topped 15,200

Friday, February 12, 2021

The markets in India added to their early gains in today's(12th February 2021) late morning deals, with IT stocks and private banks doing the majority of the lifting. The S&P BSE Sensex traded 200 points up at 51,720, and the broader Nifty50 index topped 15,200. ITC fell 3 percent after announcing its December quarter results and was the top Sensex laggard. On the other hand, IT stocks, including Infosys, HCL Tech, and Tech Mahindra ticked up 1 percent, each. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 1.1 percent, leading the gainers. In the broader markets, the S&P BSE MidCap index fell 0.3 percent while the SmallCap index rose 0.2 percent. Nine hundred and fifty-three companies, including Grasim Industries, Bharat Forge, Glenmark Pharmaceuticals, Apollo Hospitals, and Mazagon Dock Shipbuilders, are set to announce their quarterly earnings today.

MARKET UPDATE: Indices volatile;Sensex trading around 51,280 levels and the Nifty hovered around 15,100

MARKET UPDATE: Indices volatile;Sensex trading around 51,280 levels and the Nifty hovered around 15,100

Thursday, February 11, 2021

The benchmark indices in India fluctuated between gains and losses in today's(11th February 2021) early morning deals, ahead of the weekly options expiry. The S&P BSE Sensex was trading around 51,280 levels, down 30 points while the broader Nifty50 index hovered around 15,100. Titan slid 2 percent after the announcement of its December quarter results and was the top Sensex laggard, followed by ONGC, Mahindra & Mahindra, and HDFC (all down over half a percent). Among other individual stocks, Magma Fincorp rallied 10 percent on a report that Adar Poonawalla-controlled Rising Sun Holdings will acquire a 60 percent stake in the non-banking financial company by subscribing to a Rs 3,456-crore preferential issue. The Nifty sectoral indices were trading mixed, with the Nifty Auto index, down 0.7 percent, being the worst-performer. Read more

MARKET UPDATE: Indices volatile;Sensex traded around 51,380 levels and the Nifty near the 15,100 mark.

MARKET UPDATE: Indices volatile;Sensex traded around 51,380 levels and the Nifty near the 15,100 mark.

Wednesday, February 10, 2021

The markets in India fluctuated between gains and losses after opening little changed today(10th February 2021), amid mixed cues from their Asian peers. Among the headline indices, the S&P BSE Sensex traded around 51,380 levels, up 50 points and the Nifty50 index was near the 15,100 marks. PowerGrid, Tech Mahindra, Infosys, and Larsen & Toubro fell 1 percent, each, and were the top Sensex laggards. On the other hand, Bajaj Finserv (up 2%) was the top gainer. The Nifty sectoral indices were trading mixed, with gains in the Nifty Metal index, up 0.6 percent, offsetting the losses in the Nifty Bank index, down 0.5 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.4 percent and 0.3 percent higher, respectively. Three hundred and thirty companies, including Eicher Motors, Titan Company, GAIL India, Hindalco Industries, and Aurobindo Pharma are set to announce their quarterly earnings today.

MARKET UPDATE: Sensex up 360 points at 51,700 levels and the Nifty hit the 15,200-mark

MARKET UPDATE: Sensex up 360 points at 51,700 levels and the Nifty hit the 15,200-mark

Tuesday, February 9, 2021

The benchmark indices in india extended their winning run and scaled fresh lifetime highs in today's(9th Feb.2021) morning deals, lifted mainly by tech stocks, after opening higher for the seventh straight day. Among the headline indices, the S&P BSE Sensex was up 360 points at 51,700 levels and the Nifty50 hit the 15,200-mark. HCL Tech, Infosys, Titan, ONGC, and UltraTech Cement were all up 1 per cent, each. On the other hand, State Bank of India, Axis Bank, and Bajaj Finserv fell 1 per cent, each. The majority of the Nifty sectoral indices were trading in the red, with Nifty PSU Bank index slipping 1.4 per cent. Two hundred and eighteen companies, including Tata Steel, Adani Ports, Berger Paints India, and Burger King India are set to announce their quarterly earnings today.

Rajyasabha-PM Modi asks farmers to end protests

Rajyasabha-PM Modi asks farmers to end protests

Monday, February 8, 2021

Prime Minister Narendra Modi today (8th February 2021) slammed those calling agitating Sikh farmers names, saying it won't do the country any good as he went on to appeal to the protesting farmers to withdraw they are over two-month-long stir and give the new agriculture reform laws a chance. He also slammed the politics over the farm laws, saying opposition parties were mum over the reasons for the agitation. Punning on the term FDI, which stands for Foreign Direct Investment, Modi said a new thing of FDI has emerged in India, which he said was Foreign Destructive Ideology."We need to be more aware to save the country from such an ideology," he said while replying to a discussion in Rajya Sabha on a motion thanking the President for his address to the joint sitting of Parliament at the start of the Budget session. He also slammed the mushrooming of a new breed of 'Andolan-jivi' - professional protestors-who can be seen at every agitation. Read more

Dixon Technologies to produce 50 million smartphones this year

Dixon Technologies to produce 50 million smartphones this year

Monday, February 8, 2021

Vachani’s startup Dixon Technologies boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones this year. It’s an early indicator of the country’s opportunities -- and challenges -- in building a sophisticated manufacturing sector, a top priority for Prime Minister Narendra Modi. Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing. While Vachani, 52, struggled in his early days, his company’s shares surged 824% since a 2017 initial public offering through Friday’s close. Sales and profits have boomed with domestic demand for smartphones, along with India’s ambitious plans to develop its own local industry. Read more

MARKET UPDATE: Sensex clocked a fresh lifetime high and trading over 700 points at 51,440 levels and Nifty conquered the 15,100 level

MARKET UPDATE: Sensex clocked a fresh lifetime high and trading over 700 points at 51,440 levels and Nifty conquered the 15,100 level

Monday, February 8, 2021

The benchmark indices in India were trading firm, up over 1 percent, in today's(8th February 2021) morning deals after opening higher for the sixth straight day, on the back of favourable global cues. The S&P BSE Sensex clocked a fresh lifetime high and was trading over 700 points, 1.4 percent, at 51,440 levels. The broader Nifty50 index also opened above the 15,000-mark and then later conquered the 15,100 level. Mahindra & Mahindra shot up 9 percent and was the top Sensex gainer, followed by State Bank of India and Axis Bank, up 3 percent, each. The Nifty sectoral indices were painted green, with the Nifty Bank index, up 2 percent, leading the charge. Hundred and forty companies are slated to report their December quarter results today including Aditya Birla Fashion, Balkrishna Industries, and Globus Spirits.

MARKET UPDATE: Sensex up 400 points and hovered near 51,000 levels and Nifty around 15,000 mark

MARKET UPDATE: Sensex up 400 points and hovered near 51,000 levels and Nifty around 15,000 mark

Friday, February 5, 2021

The markets in India were holding on to their gains near their fresh lifetime highs today(5th Feb.2021) after the Reserve Bank of India kept the repo rate unchanged at 4 percent while the stance remained 'accommodative'. Besides, the RBI projected GDP growth of 10.5 percent in FY22 for India while the projection for CPI-based inflation was revised to 5.2 percent for Q4FY21. The S&P BSE Sensex was trading 400 points up and hovered near the 51,000 levels while the Nifty50 was around the 15,000 marks as well. One hundred and forty-seven companies including Britannia Industries, Mahindra & Mahindra, Punjab National Bank, Mrs. Bectors Food, Fortis Healthcare, Pfizer, and Shipping Corporation of India are scheduled to release their December quarter numbers today. Read more

MARKET UPDATE: Sensex fell 200 points to 50,040 levels and Nifty slipped below 14,750

MARKET UPDATE: Sensex fell 200 points to 50,040 levels and Nifty slipped below 14,750

Thursday, February 4, 2021

The Indian markets slipped nearly half a percent in today's(4th February 2021) early deals, after three straight days of gains, amid mixed global cues, ahead of the weekly F&O expiry. The S&P BSE Sensex fell 200 points to 50,040 levels and the Nifty50 index slipped below 14,750. IndusInd Bank, ICICI Bank, and Asian Paints fell 1 percent each and were the top Sensex laggards. On the other hand, Mahindra & Mahindra rose 3 percent while ONGC and Bajaj Auto were both up 2 percent. The trend among Nifty sectoral indices was mixed, with gains in the Nifty Auto index, up 1.6 percent, being offset by the Nifty Bank index, down 1 percent. The broader indices, meanwhile, outran their benchmark peers, with both the S&P BSE MidCap and SmallCap indices ruling half a percent higher, each. Read more

MARKET UPDATE: Sensex trading 320 points up at 50,118 levels and Nifty testing the 14,750-mark

MARKET UPDATE: Sensex trading 320 points up at 50,118 levels and Nifty testing the 14,750-mark

Wednesday, February 3, 2021

The benchmark indices in India scaled their fresh lifetime highs in morning trading of today's(3rd February 2021) volatile session. Among the headline indices, the S&P BSE Sensex was trading 320 points up at 50,118 levels. The index had earlier hit a fresh lifetime high of 50,231. The broader Nifty50 index was testing the 14,750-mark. Kotak Mahindra Bank and Maruti Suzuki slipped 1 percent each and were the top Sensex laggards. On the other hand, Dr. Reddy's zoomed 4 percent. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 2 percent, leading the gainers. The broader markets, meanwhile, outran their benchmark peers, with the S&P BSE MidCap and SmallCap indexes up 0.9 percent and 0.8 percent, respectively. Read more

MARKET UPDATE: Sensex shot up over 1,400 points and reclaimed the 50,000 levels and Nifty topped the 14,700-mark

MARKET UPDATE: Sensex shot up over 1,400 points and reclaimed the 50,000 levels and Nifty topped the 14,700-mark

Tuesday, February 2, 2021

The excitement in the Indian markets continued with the benchmark indices soaring another 3 percent today(2nd February 2021) after recording their biggest Budget-day rally (point-wise) in the previous session. Besides, a firm set of global cues also spurred the bulls. Among the headline indices, the S&P BSE Sensex shot up over 1,400 points and reclaimed the 50,000 levels. The broader Nifty50 index topped the 14,700-mark. Larsen & Toubro, up 8 percent, was the top Sensex gainer, followed by HDFC Bank and HDFC, up 6 percent and 5 percent, respectively. The Nifty sectoral indices were painted green, with the Nifty Financial Services index, up 4.4 percent, leading the gainers. Meanwhile, the Nifty Bank index surged over 1,500 points in intra-day deals to 34,618, a fresh high. Read more

MARKET UPDATE: Sensex trading 530 points up at 46,820 levels and Nifty hovered around 13,750 level

MARKET UPDATE: Sensex trading 530 points up at 46,820 levels and Nifty hovered around 13,750 level

Monday, February 1, 2021

The markets in India were trading firm in today's(1st February 2021) late morning deals as Finance Minister Nirmala Sitharaman began her Budget 2021 speech in the Parliament. Among the headline indices, the S&P BSE Sensex was trading at 46,820 levels, up 530 points. The broader Nifty50 index hovered above the 13,750 level. IndusInd Bank rallied 7 percent and was the top Sensex gainer, followed by ICICI Bank (up 4%). Besides, Titan, State Bank of India, and HDFC rose over 1 percent, each. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Bank index, up 1.5 percent. On the other hand, the Nifty Pharma index slipped 1.4 percent. The broader markets, meanwhile, slipped into the red, with the S&P BSE MidCap and SmallCap indices down 0.1 percent, each.

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Budget 2021 LIVE: FM arrives at North Block; all eyes on high stakes Budget

Monday, February 1, 2021

Finance Minister Nirmala Sitharaman will present her third Union Budget in Parliament at 11 am today. The Budget speech will be keenly watched not only by the domestic and foreign investors but also by various interest groups like farmers, anxious middle class, and corporate entities. As the Covid-19 pandemic hit India last year, the government witnessed a rising expenditure and tumbling revenue, even as at one stage economic activity came to a standstill due to the pandemic-induced lockdown. However, the economy is now in a recovery mode. On Friday,29th January 2021 the government tabled the Economic Survey 2020, which pegged India's real GDP growth at 11 percent in FY22. Meanwhile, the finance minister has promised a 'Budget like never before'. Read more

MARKET UPDATE: Sensex trading 400 points down at 46,990 levels and Nifty slipped below 13,900

MARKET UPDATE: Sensex trading 400 points down at 46,990 levels and Nifty slipped below 13,900

Thursday, January 28, 2021

The benchmark indices in India continued their weak run and fell one percent in today's(28th January 2021) morning deals, ahead of the monthly derivatives contracts expiry later in the day. Among the headline indices, the S&P BSE Sensex was trading 400 points down at 46,990, thus giving up the psychological mark of 47,000. The index fell to as low as 46,821 in intra-day deals. The broader Nifty50 index, meanwhile, slipped below 13,900. The HDFC twins fell 2 percent, each, and were the top Sensex drags. Besides, Sun Pharma, HCL Tech, and PowerGrid were also down 2 percent, each. On the other hand, RIL was up 1 percent. The Nifty sectoral indices were trading weak, with the Nifty PSU Bank index, down 2 percent, faring the worst. In the broader markets, the S&P BSE MidCap and SmallCap indices fell 0.6 percent and 0.8 percent, respectively. Read more

Tiktok to shut down India business

Tiktok to shut down India business

Wednesday, January 27, 2021

Bytedance, the owner of Tiktok and Helo apps, has announced the closure of its India business following continued restrictions on its services in the country. TikTok's global interim head Vanessa Pappas and vice president for global business solutions Blake Chandlee in a joint email to employees have communicated the decision of the company that it is reducing team size and the decision will impact all employees in India. The executives expressed uncertainty about the company's comeback to India but expressed hope to do so in times to come. "We look forward to receiving the opportunity to relaunch TikTok and support the hundreds of millions of users, artists, storytellers, educators, and performers in India," the spokesperson said.

Retail investors in driver's seat :UBS

Retail investors in driver's seat :UBS

Monday, January 25, 2021

Foreign investor flows have taken a backseat over the past couple of years with retail investors now being in the driver’s seat, suggests a recent report from foreign brokerage firm UBS. “Overall, when we combine household equity savings through mutual funds and direct share purchase, we see that households are a material force to be reckoned with: overall 25 percent higher than foreign portfolio investment (FPI) net inflows over the last two years,” a January 20 UBS note said. the key trigger for the increased retail participation in equities has been the lockdown triggered by Covid-19 that saw investors channelizing their savings to capital markets in search of a better return on their investments and the need to increase their disposable income. The share of client participation in capital markets at the NSE for individuals rose to 46 percent in fiscal 2020-21 (FY21) on a YTD basis, as compared to 39 percent in FY20, UBS said.

MARKET UPDATE:volatile session; Sensex hovered around 48,770 levels and Nifty testing the 14,450-mark

MARKET UPDATE:volatile session; Sensex hovered around 48,770 levels and Nifty testing the 14,450-mark

Monday, January 25, 2021

The benchmark indices in India fluctuated between gains and losses in morning deals of today's(25th January 2021) volatile session, with gains in financials being offset by losses in index-heavyweight Reliance Industries. The S&P BSE Sensex hovered around 48,770 levels, having earlier risen to 49,010 levels in intra-day deals. The broader Nifty50 index was testing the 14,450-mark. Reliance Industries dipped 4 percent post the announcement of its December quarter results. The conglomerate saw its profit jump 12.5 percent to Rs 13,101 crore during the said quarter. Besides, Asian Paints and HCL Tech also slipped 2 percent, each. On the other hand, UltraTech Cement climbed 2 percent and was the top Sensex gainer. The Nifty sectoral indices were mixed, with the Nifty PSU Bank index trading 2 percent lower. In the broader markets, the S&P BSE MidCap and SmallCap indices slipped 0.9 percent and 1.7 percent, respectively. Read more

Some expectation from Budget 2021

Some expectation from Budget 2021

Friday, January 22, 2021

Markets are now eyeing the upcoming proposals in the Union Budget – scheduled to be presented on February 01 – After a stupendous rally that has seen the S&P BSE Sensex more than double from March 2020 low and hit the 50,000 marks. The budget proposals may help revive Covid-19 impacted economy and lift the fortunes of corporate India as well. While most experts suggest the government loosen its purse strings and not worry about the fiscal deficit in a pandemic impacted year, it will be a tightrope walk for the government to increase spending without going overboard. Growth and not fiscal prudence, experts say, should be the priority for the government now. Read more

Chris Wood bullish on Indian equities

Chris Wood bullish on Indian equities

Friday, January 22, 2021

Christopher Wood, global head of equity strategy at Jefferies has maintained a bullish view on Indian equities for 2021 in spite of the runaway market rally since March 2020. "GREED & fear still likes the Indian stock market this year. The key reason is the scale of the cyclical recovery in the coming fiscal year as a result of the dramatic collapse in growth in the second quarter of last calendar year when the real gross domestic product (GDP) declined by 23.9 percent YoY," Wood wrote in his recent weekly note to investors, GREED & fear. "The economic downturn is not going to happen in GREED & fear’s view since the vaccine rollout implies the opposite and the resulting unleashing of pent-up demand, which will be given further momentum by the sheer scale of the Covid-19 stimulus announced last week by President Joe Biden," Wood wrote. Read more

MARKET UPDATE:volatile session; Sensex fell 120 points to 49500 and Nifty fell below 14,550

MARKET UPDATE:volatile session; Sensex fell 120 points to 49500 and Nifty fell below 14,550

Friday, January 22, 2021

The Indian benchmark indices inched lower in the morning deals of today's(22nd January 2021) volatile session, dragged by Reliance Industries and private banks. The S&P BSE Sensex fell 120 points to 49,500 and the broader Nifty50 index fell below 14,550. Bajaj Auto gained 6 percent and was the top Sensex gainer, followed by Mahindra & Mahindra and Asian Paints (both up 1%). On the other hand, Axis Bank and HDFC fell1 percent, each. Reliance Industries also slipped 1 percent ahead of its quarterly results later in the day. Among other individual stocks, Biocon tumbled 9 percent while SBI Card rose as much as 4 percent after announcing their respective December quarter results. The Nifty sectoral indices were mixed, with the Nifty Auto index, up 3 percent leading the gainers. Read more

India's GDP is within the striking distance of attaining positive growth: RBI bulletin

India's GDP is within the striking distance of attaining positive growth: RBI bulletin

Thursday, January 21, 2021

India's GDP is within the striking distance of attaining positive growth, the Reserve Bank said. The Indian government launched the world's biggest vaccination drive on January 16 to protect people from COVID-19. "What will 2021 look like? The shape of the recovery will be V-shaped after all and the 'V' stands for the vaccine," said an article on the 'state of the economy' in the RBI's January Bulletin. India has launched the biggest vaccination drive in the world, backed by its comparative advantage of having the largest vaccine manufacturing capacity in the world and a rich experience of mass inoculation drives against polio and measles. "If successful, it will tilt the balance of risks upwards," said the authors who among others include RBI Deputy Governor Michael Debabrata Patra. Read more

MARKET UPDATE:Sensex crossed the 50,000 landmark; up by 270 points at 50,070 levels and the Nifty was above 14,700-mark

MARKET UPDATE:Sensex crossed the 50,000 landmark; up by 270 points at 50,070 levels and the Nifty was above 14,700-mark

Thursday, January 21, 2021

The markets in India scaled record highs today(21st January 2021), with the S&P BSE Sensex crossing the 50,000 landmark for the first time ever, on the back of favourable global cues. The S&P BSE Sensex gained 270 points at 50,070 levels and the Nifty50 index was trading above the 14,700-mark. Bajaj Finance and Bajaj Finserv rose 4 percent and 3 percent, respectively, after announcing their December quarter results, while Bajaj Auto gained over 1 percent ahead of its quarterly results announcement, later in the day. The Nifty sectoral indices were painted green, led by the Nifty Auto index, up 1 percent.

FM Nirmala Sitharaman's upcoming budget may be unlike anything seen in the last 100 years

FM Nirmala Sitharaman's upcoming budget may be unlike anything seen in the last 100 years

Wednesday, January 20, 2021

FM Nirmala Sitharaman has described her upcoming budget as unlike anything seen in the last 100 years. Prime Minister Narendra Modi’s government has been parsimonious in pump-priming the economy, for fear of a rating downgrade to junk, and may find that kicking the can down the road is no longer an option. When Finance Minister Nirmala Sitharaman presents her budget on Feb. 1, she will not only aim to repair battered government finances and ensure demand recovers in an economy facing its worst contraction since 1952. She must also revive declining revenue and restore millions of jobs lost during the pandemic. That will be crucial to boosting consumer sentiment in a country where local demand contributes nearly 60% of gross domestic product. Read more

MARKET UPDATE:Sensex up by 100 points at 49,500 levels and the Nifty was above 14,550-mark

MARKET UPDATE:Sensex up by 100 points at 49,500 levels and the Nifty was above 14,550-mark

Wednesday, January 20, 2021

The benchmark indices in India inched higher after a flat start in today's(20th January 2021) opening deals, lifted by IT stocks. The S&P BSE Sensex was up 100 points at 49,500 levels and the Nifty50 index was above the 14,550-mark. ONGC, Tech Mahindra, ICICI Bank, and HCL Tech (all up 1%) were the top Sensex gainers. Among other individual stocks, Tata Communications slid 4 percent as the government is set to sell its entire 26.12 percent stake in the company by the end of the current fiscal year. All the Nifty sectoral indices, except Nifty FMCG, were painted green, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.4 percent, each. Thirty-six companies including Bajaj Finance, Bajaj Finserv, HDFC Asset Management Company, and Havells India are set to announce their quarterly results today.

PVR plans to release films in theatres as virus eases

PVR plans to release films in theatres as virus eases

Tuesday, January 19, 2021

PVR Ltd. is now planning to release their movies in cinema halls rather than on streaming sites like those run by Netflix Inc. and Amazon.com Inc., now that the pandemic is easing in India. The country’s biggest cinema operator, which runs about 835 screens across 71 cities, is currently operating most theaters at half capacity due to Covid-related restrictions. However, it sees benefits in the “age-old strategy” of movies first coming to the big screen before being monetized on other platforms. A number of Indian films starring top actors such as Amitabh Bachchan, Akshay Kumar, and Vidya Balan opted for streaming platform release in 2020 as theaters were shuttered by shelter-at-home rules. PVR’s shares, which snapped eight years of gains to fall about 30% in 2020, have risen almost 14% this year. The stock has 20 buy calls, six holds, and four sales among analysts tracked by Bloomberg.

MARKET UPDATE:Sensex rose 350 points and hovered around 48,900 levels and the Nifty held above 14,400

MARKET UPDATE:Sensex rose 350 points and hovered around 48,900 levels and the Nifty held above 14,400

Tuesday, January 19, 2021

The Indian benchmark indices made a strong start today(19th January 2021), tracking firm cues from other Asian markets. The S&P BSE Sensex rose 350 points and hovered near 48,900 levels. The index hit an intra-day high of 49,060. The broader Nifty50 index held above 14,400. Bajaj Finance and IndusInd Bank (both up 2%) were the top Sensex gainers. Besides, Reliance Industries, HDFC, and Maruti Suzuki were also trading over 1 percent, each. Among other individual stocks, shares of Mindtree gained 4 percent after the company's consolidated net profit jumped 65.7 percent year-on-year (YoY) to Rs 326.5 crore in the December 2020 quarter. The trend among Nifty sectoral indices was positive, with the Nifty Realty index, up 2.2 percent, leading the list of gainers.

Govt likely to target fiscal deficit at 4% of GDP by FY26

Govt likely to target fiscal deficit at 4% of GDP by FY26

Monday, January 18, 2021

The GOI is likely to lay down a road map in the upcoming Budget to reduce its fiscal deficit to 4 percent of gross domestic product (GDP) by 2025-26. This is necessary because there will be demands for expansionary policies, even in the next couple of years. This implies the government is set to deviate from the long-standing medium-term target of 2.5-3 percent of GDP as prescribed by amendments to the Fiscal Responsibility and Budget Management Act (FRBM). The government had changed the recommendations of the N K Singh Committee on fiscal consolidation and targeted bringing down the fiscal deficit to 3.1 percent of GDP by 2022-23 (FY23). However, to enable widen the fiscal deficit beyond the permissible limit under the present legislation, the government may have to propose an amendment to the FRBM Act in the Finance Bill.

MARKET UPDATE:Sensex down 400 points to 49,620 levels and the Nifty hovered around 14,350-mark

MARKET UPDATE:Sensex down 400 points to 49,620 levels and the Nifty hovered around 14,350-mark

Monday, January 18, 2021

The Indian equity markets in India slipped over half a percent in today's(18th January 2021) early deals, tracking similar cues from their Asian peers. The S&P BSE Sensex fell 400 points to 48,620 levels and the Nifty50 index hovered around 14,350-mark. ONGC (down 4%) was the top Sensex loser, followed by Bajaj Finance, Bajaj Finserv, and IndusInd Bank (all down 3%). On the other hand, HDFC Bank gained over 2 percent after recording an 18 percent rise in net profit at Rs 8,758.3 crore in the December quarter of the current fiscal year (Q3FY21), driven by robust growth in net interest income and other income. Among other individual stocks, shares of diagnostic chain Metropolis Healthcare rose 4 percent after the company said it will acquire Dr. Ganesan's Hitech Diagnostic Centre to strengthen its leadership position in southern India. Read more

India Inc goes into hiring mode as demand picks up

India Inc goes into hiring mode as demand picks up

Friday, January 15, 2021

The mood of optimism all around has given rise to positive sentiment in the hiring market, with top companies such as the Tatas, Birlas, Reliance, and ITC planning to add more staff in the coming months. Most of the hirings are, however, in the entry or junior level, say HR managers. While TCS, created a record of sorts by hiring 15,721 people in the December quarter, other group companies are not far behind. Tata Projects, which recently bagged the prestigious Central Vista project, also plans to hire more people soon. Infosys, too, has announced it will hire 24,000 freshers from campuses this year. The Aditya Birla group is looking at fresh talent for its various verticals. Hiring by Reliance Retail and Reliance Jio has picked up as well, with both getting ready to onboard people from the Future Group and other acquisitions, according to sources. Auto is another sector where hiring is set to rise.

MARKET UPDATE:Sensex down 200 points to 49,360 levels and the Nifty gave up the 14,550-mark

MARKET UPDATE:Sensex down 200 points to 49,360 levels and the Nifty gave up the 14,550-mark

Friday, January 15, 2021

The equity markets in India edged lower in today's(15th January 2021) early deals, tracking similar cues from their Asian peers. The S&P BSE Sensex hovered around 49,360 levels, down 200 points, and the Nifty50 index gave up the 14,550-mark. UltraTech Cement dipped 2 percent and was the top Sensex laggard, followed by Tech Mahindra, Infosys, and Asian Paints (all down 1%). On the other hand, Bharti Airtel surged 5 percent after the MSCI said it would decide on increasing the weight of Bharti Airtel during its upcoming index review in February. HCL Technologies also rose 1 percent in early deals after posting a 34.8 percent year-on-year (YoY) jump in its consolidated net profit to Rs 3,969 crore for the December 2020 quarter (FY2021). The Nifty sectoral indices were trading largely in the red, with the Nifty IT index, down 0.8 percent, leading the list of losers. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.1 percent up, each. 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.

MARKET UPDATE:Sensex fell 200 points to 49,260 levels and the Nifty fell below 14,550 levels

MARKET UPDATE:Sensex fell 200 points to 49,260 levels and the Nifty fell below 14,550 levels

Thursday, January 14, 2021

The Indian equity markets declined nearly half a percent in today's(14th January 2021) early deals, dragged by tech stocks, ahead of the weekly F&O expiry later in the day. The S&P BSE Sensex fell 200 points to 49,260 levels and the Nifty50 index fell below 14,550 levels. Infosys tumbled 4 percent in opening deals as investors booked profit after the company largely beat Street estimates on all fronts for the December quarter results. Among other IT stocks, HCL Tech and Tech Mahindra also slipped 2 percent each. Besides, Hindustan Aeronautics surged as high as 12 percent in early deals after the government approved procurement of 83 indigenously-developed light combat aircraft 'Tejas' for the Indian Air Force at a cost of Rs 48,000 crore. The majority of the Nifty sectoral indices were trading higher, although the Nifty IT index dipped 2 percent. Read more

India’s endless bank salvage pain

India’s endless bank salvage pain

Wednesday, January 13, 2021

India's state-dominated lending system’s aggregate balance sheet had a gaping hole even before Covid-19. Now things could turn uglier. The regulator’s latest stress test projects nonperforming assets to jump to 13.5% of loans and advances by September in its baseline scenario, and 14.8% in the worst-case situation, almost doubling from 7.5% a year earlier. After many tough years, making India’s broken banks whole is still very much like pulling teeth. The twists and turns in the $12 billion bankruptcy of a housing finance company show how challenging it may be for the country to nurse its post-pandemic financial system to health.

MARKET UPDATE:SSensex up by 210 points at 49,730 levels and Nifty holding above the 14,600-mark

MARKET UPDATE:SSensex up by 210 points at 49,730 levels and Nifty holding above the 14,600-mark

Wednesday, January 13, 2021

The markets in India continued their record-breaking spree and logged fresh lifetime highs today(13th January 2021), with the S&P BSE Sensex eyeing the landmark 50,000 level. The Sensex was trading 210 points, or 0.4 percent, at 49,730 levels and the Nifty50 index was holding above the 14,600-mark. Bharti Airtel surged 5 percent after the company said it is initiating the process to revise its foreign investment limit to 100 percent with immediate effect. Besides, ONGC and State Bank of India were also up 2 percent, each. All the Nifty sectoral indices were ruling higher, led by the Nifty Metal index, up 1.5 percent. Besides, the Nifty Bank index hit a fresh record high at 32,559 in intra-day deals. Infosys, Wipro, Amtek Auto, GTPL Hathaway, and six other firms are slated to release their Q3 numbers today. Read more

MARKET UPDATE:SSensex gained 400 points at 49,190 levels and Nifty topped 14,420 level

MARKET UPDATE:SSensex gained 400 points at 49,190 levels and Nifty topped 14,420 level

Monday, January 11, 2021

The Indian markets scaled fresh record highs on Monday, with the S&P BSE Sensex scaling Mount 49,000 for the first time ever, on the back of favorable global cues and strong Q3 earnings. The S&P BSE Sensex gained 400 points, or 0.8 percent, at 49,190 levels and the Nifty50 index topped the 14,420 level. Technology stocks were the lead Sensex gainers, with Infosys, HCL Tech, and TCS rising 3%, 2%, and 1%, respectively. Tata Consultancy Services' profit jumped 7 percent YoY in the December quarter to Rs 8,701 crore, according to the results announced post market hours on Friday. Besides, shares of Avenue Supermarts gained 2 percent after the firm posted a 16 percent jump in Q3 profit. All the Nifty sectoral indices, except the Nifty Metal index, were trading higher, led by the Nifty IT index, up 2 percent.

Few stocks that may give better returns in 2021

Few stocks that may give better returns in 2021

Friday, January 8, 2021

The market which is already trading at record highs has more legs than earlier, believe many analysts. They believe the market will run up ahead of, and in anticipation of, and ensuing economic recovery. The following few stocks may get the best of the rally in the market in the next year, according to many analysts: 1. Sobha | Target: Rs 640 | Upside: 45%: Sobha is a better-placed company in the realty space backed by its strong brand, better product realizations, back‐ward integration of processes including in‐house design, architecture, mechanical, electrical, plumbing and engineering, superior execution capabilities and diversifications from Bangalore market to a pan India player. Also, the company is likely to be a prime beneficiary of consolidation in the industry. Read more

MARKET UPDATE:Sensex up 300 points at 48,410 levels and Nifty hit an intra-day high of 14,259

MARKET UPDATE:Sensex up 300 points at 48,410 levels and Nifty hit an intra-day high of 14,259

Friday, January 8, 2021

The markets in India made a strong start to today's(8th January 2021) session, with the Nifty50 index and the MidCap index hitting their fresh record high levels, on the back of firm global cues. The S&P BSE Sensex was up 300 points at 48,410 levels, while the Nifty50 index hit an intra-day high of 14,259, also its fresh record high. Tech Mahindra, Sun Pharma, and Infosys (all up 2%) were the top Sensex gainers. All the Nifty sectoral indices were trading with gains, led by the Nifty IT index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.5 percent 0.9 percent higher, respectively. Information technology (IT) major TCS is among the five companies scheduled to announce their December quarter earnings today. Read more

MARKET UPDATE:Sensex trading 250 points higher at 48,420 levels and Nifty holding above 14,220-mark

MARKET UPDATE:Sensex trading 250 points higher at 48,420 levels and Nifty holding above 14,220-mark

Thursday, January 7, 2021

The equity markets in India returned to their winning ways after a day's hiatus, with the headline indices trading half a percent higher and the MidCap index hitting their fresh lifetime highs, on the back of broad-based buying, in today's(7th January 2021) early deals. The S&P BSE Sensex was trading 250 points, or half a percent, up at 48,420 levels. The broader Nifty50 index was also holding above the 14,220-mark, after hitting a fresh all-time high of 14,256 in early deals. IndusInd Bank and Axis Bank (both up 2%) were the lead Sensex gainers, followed by State Bank of India, Larsen & Toubro, ICICI Bank, and Mahindra & Mahindra (all up 1% each). All the Nifty sectoral indices were trading in the green. Realty stocks were ruling higher after the Maharashtra government approved the proposal to cut the premium on real estate projects by half till December 31, 2021. As a result, the Nifty Realty index surged 3 percent and was the top Nifty sectoral gainer. Read more

Resurgence in coronavirus infections: Services sector in India loses steam in December

Resurgence in coronavirus infections: Services sector in India loses steam in December

Wednesday, January 6, 2021

Growth in India's services industry continued to lose momentum in December as a resurgence in coronavirus infections weighed on new business and employment, according to a private survey today. Asia's third-largest economy has been gradually recovering from a coronavirus-induced recession but is not expected to return to pre-pandemic levels soon, especially within the service industry - the engine of economic growth and jobs in the country. The Nikkei/IHS Markit Services Purchasing Managers' Index fell to 52.3 in December from November's 53.7 but held above the 50-mark separating growth from contraction for a third straight month. "A spike in Covid-19 cases was reported as a key factor restricting the growth of new work intakes among service providers, which in turn curbed the rise in output and led to increased business uncertainty about the outlook,", said the report. Read more

Chris Wood has increased weightage of Indian equities in his Asia Pacific ex-Japan relative-return portfolio

Chris Wood has increased weightage of Indian equities in his Asia Pacific ex-Japan relative-return portfolio

Wednesday, January 6, 2021

Christopher Wood, Global Head of Equity Strategy at Jefferies, has nudged to increase exposure to Indian equities in his ‘GREED and Fear’ portfolio yet again due to a downward-sloping Covid-19 graph and an upward-sloping Nifty50 chart in India. Wood has increased the weightage of Indian equities by 150 basis points to 14 percent in his Asia Pacific ex-Japan relative-return portfolio, by trimming exposure to Chinese and Pakistani equity markets Last month, Wood had raised concerns over the sharply expanding valuations of the Indian equity market, but he sounded confident that valuations will become relatively cheaper as corporate earnings growth catch up in 2021.

MARKET UPDATE:Sensex trading 55 points higher at 48,490 levels and Nifty holding above 14,200 levels

MARKET UPDATE:Sensex trading 55 points higher at 48,490 levels and Nifty holding above 14,200 levels

Wednesday, January 6, 2021

The markets in India were trading flat with a positive bias in today's(6th January 2020) early deals, tracking mixed global cues. The S&P BSE Sensex was trading 55 points higher at 48,490 levels and the Nifty50 index was holding above 14,200 levels. ONGC (up 4%) was the top Sensex gainer, followed by Titan which rose 3 percent after giving a business update for the December quarter of FY21. ICICI Bank, Larsen & Toubro, and Bharti Airtel (all up 1%) were the other top gainers. The majority of the Nifty sectoral indices were trading with gains, led by the Nifty Metal index, up 1 percent.

Indian economy witnessing 'V-shaped' recovery since June: FinMin

Indian economy witnessing 'V-shaped' recovery since June: FinMin

Tuesday, January 5, 2021

According to a Finance Ministry report India has been witnessing a 'V-shaped' recovery since June with the gradual easing of restrictions on economic activities." The sustained improvement in high-frequency indicators ignite optimism of improved performance in the second half of the year," it said. The Monthly Economic Recovery for December by the Department of Economic Affairs (DEA) also noted that the impending vaccination is set to spur the momentum in economic activity globally. "The effective management of Covid-19 spread despite the festive season and onset of the winter season, combined with sustained improvement in high-frequency indicators and V-shaped recovery along with easing of lockdown restrictions distinguish Indian economy as one riding against the Covid-wave," it said. Read more

MARKET UPDATE:Sensex fell 100 points to 48,070 levels and Nifty hovered around 14,100

MARKET UPDATE:Sensex fell 100 points to 48,070 levels and Nifty hovered around 14,100

Tuesday, January 5, 2021

Markets in India were trading lower in today's(5th January 2020) opening deals, on the back of weak global cues. Among headline indices, the S&P BSE Sensex fell 100 points to 48,070 levels and the Nifty50 index hovered around 14,100. ONGC (down 2%) was the top Sensex laggard, followed by Mahindra &Mahindra, NTPC, and ICICI Bank (all down 1%). The majority of the Nifty sectoral indices were trading in the red, led by Nifty PSU Bank and Nifty Metal indexes, down 1 percent, each.

Seventh round of Centre-farmer unions' talks today in Delhi

Seventh round of Centre-farmer unions' talks today in Delhi

Monday, January 4, 2021

The seventh round of meeting between the Central government and farmers' representatives is underway at Vigyan Bhawan in Delhi. Farmers' leaders and officials present at the meeting observed silence to pay condolence to the farmers who died during the ongoing protest. Bharatiya Kisan Union (BKU) spokesperson, Rakesh Tikait claimed that a total of 60 farmers have so far lost their lives during the ongoing farmers' protest against the new farm laws. Protesting farmers who have been camping at Delhi borders for the last 39 days braving the bone-chilling cold and now rains have threatened to intensify their protest if their two major demands -- repeal of the three new farm laws and legal backing for the minimum support price (MSP) -- are not accepted by the government in today's meeting. Read more

Manufacturing sector activities showed a marginal improvement in December

Manufacturing sector activities showed a marginal improvement in December

Monday, January 4, 2021

Indian manufacturing sector activities showed a marginal improvement in December compared to the previous month even as employment generation remained low, showed the widely-tracked IHS Markit purchasing managers' index (PMI) survey. PMI inched up to 56.4 in December compared to 56.3 in November. However, it remained lower than 58.9 in October and 56.8 in September, the two months during which the economy saw a gradual lifting of lockdowns. A reading above 50 shows growth, while the print below 50 means contraction. Reflecting the loosening of Covid-19 restrictions, strengthening demand, and improved market conditions, factory orders increased during December. In response, firms lifted production again. In both cases, rates of expansion remained sharp despite easing to four-month lows. Read more

MARKET UPDATE:Sensex shot up 230 points to above the 48,000 levels for the first time ever and Nifty hovered around 14,100 zone

MARKET UPDATE:Sensex shot up 230 points to above the 48,000 levels for the first time ever and Nifty hovered around 14,100 zone

Monday, January 4, 2021

The markets in India made a firm start today(4th January 2021), recording their fresh new high, after the Indian drug regulator DGCI gave its approval to Covid vaccines produced by AstraZeneca and Bharat Biotech for emergency use in the country. Among the headline indices, the S&P BSE Sensex shot up 230 points and was trading above the level of 48,000 for the first time ever. The broader Nifty50 index also hovered around the 14,100 zones. ONGC, TCS, State Bank of India, Infosys, and IndusInd Bank (up 1% each) were the top Sensex gainers. On the other hand, Reliance Industries was trading with marginal cuts after Sebi imposed penalties on the conglomerate for alleged manipulative trading in the shares of erstwhile Reliance Petroleum, back in November 2007. Read more

India Inc goes on M&A spree despite pandemic in 2020, New year will be brighter

India Inc goes on M&A spree despite pandemic in 2020, New year will be brighter

Thursday, December 31, 2020

Indian conglomerates bought and sold companies in record-breaking deals despite a majority of smaller firms ending the year on a dull note. Many corporate India is ending 2020 with battered sales and profits due to the pandemic while a few top companies saw a phenomenal rise in their market valuation. The year 2020 will be remembered for the billions of dollars’ worth of investments reported by Reliance Industries by selling a stake in its telecom services arm, Jio Platforms. As soon as the Mukesh Ambani-led firm stopped selling stakes in Jio, global investors queued up to invest in its organised retail arm, making the company virtually debt-free. Backed by billions of dollars of investments from marque global investors, Ambani then acquired Future group’s entire retail and wholesale business for Rs 25,000 crore, giving the group a significant lead in organised retail. Read more

MARKET UPDATE:Sensex hovered around 47,740 levels and Nifty testing the 14,000-mark

MARKET UPDATE:Sensex hovered around 47,740 levels and Nifty testing the 14,000-mark

Thursday, December 31, 2020

The markets in India were trading flat with a positive bias in the final trading session of the year 2020 today(31st December 2020) ahead of the expiry of December series derivative contracts later in the day. Among headline indices, the S&P BSE Sensex hovered around 47,740 levels and the Nifty50 index was testing the 14,000-mark. ONGC (up 1%) was the top Sensex gainer, followed by Titan, Bajaj Finance, and ICICI Bank (up to half a percent, each). The Nifty sectoral indices were mixed, with the Nifty Realty index, up 1 percent, leading the list of gainers. Anarock yesterday said that housing sales in the October-December rose to 50,900 units across seven big cities from 29,520 units in the previous quarter. In the broader markets, the S&P BSE MidCap and SmallCap indices were up 0.4 percent each, outperforming their headline peers.

MARKET UPDATE:Sensex gained 310 points at 47,660 levels and the Nifty50 index hovered around 13,960 zone

MARKET UPDATE:Sensex gained 310 points at 47,660 levels and the Nifty50 index hovered around 13,960 zone

Tuesday, December 29, 2020

The benchmark indices in India scaled fresh lifetime highs today(29th December 2020) after opening higher for the fifth straight session, on the back of favorable global cues. The S&P BSE Sensex gained 310 points at 47,660 levels and the Nifty50 index hovered around the 13,960 zones, inching closer to the landmark of 14,000. IndusInd Bank (up 2%), HCL Tech, Axis Bank, and State Bank of India (up 1%) were among the top Sensex gainers. The Nifty sectoral indices were painted green, with the Nifty Bank index, up 1 percent, leading the gainers. The broader markets tracked the gains in their benchmark peers, with the S&P BSE MidCap and SmallCap indices trading 0.6 percent and 0.8 percent higher, respectively.

MARKET UPDATE:Sensex hovered around 46,000 levels and Nifty index was testing the 13,500 mark

MARKET UPDATE:Sensex hovered around 46,000 levels and Nifty index was testing the 13,500 mark

Wednesday, December 23, 2020

The equity markets in India fluctuated between gains and losses in today's(23rd December 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex hovered around 46,000 levels and the Nifty50 index was testing the 13,500 marks. Tech stocks, Infosys, Tech Mahindra, HCL Tech, and TCS (all up 1%) were the top Sensex gainers. On the other hand, ONGC, down 2 percent, fell the most, while index heavyweights Reliance Industries and HDFC Bank were also down half a percent, each. Among other individual stocks, Wipro gained nearly 3.5 percent after announcing the commencement date for its Rs 9,500-crore share buyback programme. The Nifty sectoral indices were trading mixed, with the Nifty IT index, up 1.5 percent, leading the list of gainers.

MARKET UPDATE:Indian benchmark indices in red;Sensex hovered around 45,240 levels, down 310 points and Nifty fell below the 13,300-mark

MARKET UPDATE:Indian benchmark indices in red;Sensex hovered around 45,240 levels, down 310 points and Nifty fell below the 13,300-mark

Tuesday, December 22, 2020

The Indian benchmark indices quickly erased their opening gains and slipped into the red, down over half percent, in today's(22nd December 2020) morning deals as investors were unable to shake off concerns amid the new strain of Covid-19. The S&P BSE Sensex hovered around 45,240 levels, down 310 points, after hitting an intra-day high of 45,938. The broader Nifty50 index also fell below the 13,300-mark. HCL Tech and Tech Mahindra (both up 2%) were the top Sensex gainers, followed by ONGC, NTPC, and PowerGrid (up to over 1% each). On the other hand, Bajaj Finance and Reliance Industries slipped 1 percent, each. All the Nifty sectoral indices, except Nifty IT, were trading lower. In the broader market, the S&P BSE MidCap and SmallCap indices were trading half a percent and 0.8 percent higher, respectively.

New Covid-19 strain effect:Sensex sinks 1,407 points

New Covid-19 strain effect:Sensex sinks 1,407 points

Monday, December 21, 2020

Investors on Dalal Street witnessed wealth erosion of over Rs 7 lakh crore today(21st December 2020) as market participants preferred to book profits, amid weak global cues and concerns over a new strain of the virus leading to fresh restrictions in European countries. The market capitalisation of BSE-listed firms tanked to Rs 178 lakh crore from Rs 185 lakh crore on Friday From the day's high, the Sensex index dropped 2,133 points and logged it's sharpest intra-day fall since April 2020. The Nifty index, on the other hand, lost 646 points from the day's high. Read more

India suspends flights from UK Amid Concern Over Virus Strain

India suspends flights from UK Amid Concern Over Virus Strain

Monday, December 21, 2020

The government of India has suspended all flights from and to the UK from Tuesday midnight till December 31, in view of the rising spread of a new Covid strain there. The announcement follows the discovery of a new strain of COVID-19 in the UK, leading to several nations restricting flight services to Britain. The statement came after Delhi Chief Minister Arvind Kejriwal urged the Centre to ban all flights from the UK "immediately" to contain the spread of the virus in the country. India joins a growing list of countries who have already announced restrictions on travel to the UK. These countries include Ireland, Germany, France, Italy, the Netherlands and Belgium.

MARKET UPDATE:Indian benchmark indices erased their early losses;Sensex trading 33 points up at 46,990 and Nifty testing the 13,750-mark

MARKET UPDATE:Indian benchmark indices erased their early losses;Sensex trading 33 points up at 46,990 and Nifty testing the 13,750-mark

Monday, December 21, 2020

The domestic benchmark indices in India erased their early losses and turned flat after falling nearly 0.5 percent in today's(21st December 2020) opening deals amid weak cues from their Asian peers. The S&P BSE Sensex was trading 33 points up at 46,990 after hitting an intra-day low of 46,694. The broader Nifty50 index was also testing the 13,750-mark. ONGC, Axis Bank, ICICI Bank, and Mahindra & Mahindra (all down 2%) were the top Sensex laggards. On the other hand, Reliance Industries rose 1 percent after the conglomerate and its partner BP announced the first gas from the R Cluster, an ultra-deep-water gas field in block KG D6 off the east coast of India. Meanwhile, aviation stocks were under pressure in intra-day deals over the UK border closure, with SpiceJet and InterGlobe Aviation falling 5 percent and 3 percent, respectively. Read more

Indian IT shares gain on Accenture's strong performance

Indian IT shares gain on Accenture's strong performance

Friday, December 18, 2020

Shares of information technology majors, including Infosys, TCS, HCL Tech, Wipro and Tech Mahindra, traded with gains on BSE on December 18 morning hitting their respective record highs after Ireland-based Accenture reported better-than-expected results for the quarter ending November 30. The Nifty IT index hit a record high of 23,408, up 2 per cent on the NSE in intraday trade. Accenture reported strong earnings and revenue growth, revised upwards revenue growth forecast for the full fiscal year of 2021 to 4 – 6 per cent from an earlier estimate of 2 – 5 per cent. Accenture's revenue for the quarter, at $11.8 billion and up 4 per cent on a year-on-year (YoY) basis was well above its guidance and street’s estimate. Infosys gained 3 per cent at Rs 1,193 and TCS rose 2 per cent to Rs 2,894., Larsen & Toubro Infotech, HCL Technologies, Wipro and Tech Mahindra from the Nifty IT index were up in the range of 1 per cent to 3 per cent. Read more

MARKET UPDATE:Sensex down 100 points at 46,799 and Nifty fell below the 13,750-mark

MARKET UPDATE:Sensex down 100 points at 46,799 and Nifty fell below the 13,750-mark

Friday, December 18, 2020

The benchmark indices in Indian markets came under slight pressure in today's(18th December 2020) early trade after scaling fresh lifetime highs in their opening deals, with the Sensex hitting the 47,000 level for the first time ever. The S&P BSE Sensex was down 100 points at 46,799, after hitting an intra-day high of 47,026. The broader Nifty50 index fell below the 13,750-mark. IT stocks lead the way for the gainers, with HCL Tech and Infosys (both up 2%) being the top gainers, followed by TCS and Tech Mahindra (both up 1%). The Nifty sectoral indices were mixed, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap and SmallCap indices were down 0.2 percent and 0.3 percent, respectively.

MARKET UPDATE:Sensex gained 106 points to 46,770 levels and Nifty above the 13,700-mark

MARKET UPDATE:Sensex gained 106 points to 46,770 levels and Nifty above the 13,700-mark

Thursday, December 17, 2020

The Indian equity markets were trading with meager gains today(17th December 2020) amid mixed global cues, ahead of the weekly options expiry. Among the headline indices, the S&P BSE Sensex gained 106 points to 46,770 levels and the broader Nifty50 index was above the 13,700-mark. IndusInd Bank rose 2 percent after the Sebi granted a one-month extension for the bank's promoters to infuse residual capital in lieu of conversion of warrants, issued to them last year, into equity. Besides, Reliance Industries, Sun Pharma, and Ultratech Cement (all up 1%) were the other top gainers. The trend was mixed among the Nifty sectoral indices, with the Nifty Pharma index, up 1 percent, leading the list of gainers. In the broader markets, the S&P BSE MidCap index was flat while the SmallCap index gained 0.4 percent.

RBI does not want rupee appreciate much?

RBI does not want rupee appreciate much?

Wednesday, December 16, 2020

A torrential foreign fund inflow in India’s equity markets is getting mopped up by the Reserve Bank of India (RBI), swelling its reserves and preventing the rupee from appreciating. The intervention is leading to two outcomes: It is not letting the rupee to appreciate and adding liquidity in the banking system to help the government borrow a record Rs 12 trillion from the market.

MARKET UPDATE:Sensex rose 317 points at 46,580 levels and Nifty surpassed the 13,650-mark

MARKET UPDATE:Sensex rose 317 points at 46,580 levels and Nifty surpassed the 13,650-mark

Wednesday, December 16, 2020

The markets in India scaled fresh record high levels today (16th December 2020), tracking strong gains in Asian indices. The S&P BSE Sensex rose 317 points, or 0.7 percent, at 46,580 levels. The index hit an intra-day high of 46,592. The broader Nifty50, meanwhile, surpassed the 13,650-mark. Mahindra & Mahindra rose 3 percent and was the top Sensex gainer after saying it will hike prices of its entire range of passenger and commercial vehicles from next month. Besides, ONGC (up 2%), Asian Paints, Bajaj Finance, and Tata Steel (all up1%) were the other top gainers. All the Nifty sectoral indices, except the Nifty PSU Bank index, we're going strong, led by the Nifty Metal index, up 1 percent. In the broader markets, both the S&P BSE MidCap and SmallCap indices were ruling half a percent up.

India is the world's best market for portfolio disclosure: Morningstar report

India is the world's best market for portfolio disclosure: Morningstar report

Tuesday, December 15, 2020

India and the U.S. are the two most investor-friendly markets in the world in terms of best practices for portfolio disclosure, while Australia ranks at the bottom, according to a global study by Morningstar Inc. The two countries earned top grades for their robust disclosure regimes across six categories including fees, transparency of fund holdings, and issues such as conflicts of interest. The report covering 26 markets across North America, Europe, Asia, and Africa singled out Australia as a notable laggard. “The U.S. has consistently led the pack in this area, while India has gradually added global best practices to its disclosure framework,” Christina West, director of manager research services at Morningstar and co-author of the study, said in a statement. “India has also set a high standard with monthly required portfolio holdings disclosure.”

S&P raised India's growth projection for the current fiscal to (-) 7.7% from (-) 9%

S&P raised India's growth projection for the current fiscal to (-) 7.7% from (-) 9%

Tuesday, December 15, 2020

S&P Global Ratings today(15th December 2020) raised India's growth projection for the current fiscal to (-) 7.7 percent from (-) 9 percent estimated earlier on rising demand and falling COVID infection rates. "Rising demand and falling infection rates have tempered our expectation of COVID's hit on the Indian economy. S&P Global Ratings has revised real GDP growth to negative 7.7 percent for the year ending March 2021, from negative 9 percent previously," S&P said in a statement. The US-based rating agency said its revision in growth forecast reflects a faster-than-expected recovery in the quarter through September. For the next fiscal, it projected India's growth to rebound to 10 percent. Read more

Jio and Facebook to help India's small businesses

Jio and Facebook to help India's small businesses

Tuesday, December 15, 2020

Mukesh Ambani, Chairman, Reliance Industries Limited (RIL) has said that the partnership between Jio and Facebook is great for India, Indians and small Indian businesses. Even Facebook CEO Mark Zuckerberg on Tuesday said at the first Facebook Fuel for India 2020 event that its partnership with Jio Platforms will help support millions of small businesses in India." At Facebook, we are in the business of serving small businesses. And nowhere is this more true than in India," the Facebook CEO said. He also said that supporting small businesses has become more important in view of the Covid-19 induced impact on the economy.“With more than 60 million small businesses and millions of people around the country relying on them for jobs - these small businesses form a big part of what our partnership with Jio can serve here. This is especially important because small businesses in India will be a key part of the global economic recovery going forward. And we're focused on making sure we build. Read more

MARKET UPDATE:Sensex fell 300 points at 45,950 levels and Nifty breached the 13,500-mark

MARKET UPDATE:Sensex fell 300 points at 45,950 levels and Nifty breached the 13,500-mark

Tuesday, December 15, 2020

The Indian benchmark indices extended their early losses and were down nearly 1 percent in today's(15th December 2020) morning deals, dragged primarily by financials and FMCG stocks. The S&P BSE Sensex fell 300 points, or 0.8 percent, at 45,950 levels, this giving up the psychological level of 46,000. The broader Nifty50 also breached the 13,500-mark. Axis Bank (down 2%) was the top Sensex laggard, followed by ONGC, ICICI Bank, and IndusInd Bank (all down 1%). On the other hand, HDFC Bank gained over 1 percent. The trend among Nifty sectoral indices was largely negative, with the Nifty PSU Bank index, down 3 percent, leading the list of losers. In the broader market, the S&P BSE MidCap slipped 0.2 percent while the S&P BSE SmallCap index was flat.

Tata Group show interest in Air India

Tata Group show interest in Air India

Monday, December 14, 2020

Tata Sons are likely to submit an expression of interest (EoI) for state-owned carrier Air India, the deadline for which ends on December 14. Singapore Airlines (SIA), with which Tata Sons operates full-service airline Vistara, may not be part of the bid in the initial stages, according to sources. “The opportunity to acquire Air India is too good to let go if the company wants to have scale and size in the business of aviation. In all sectors Tata Sons operates, the focus has been to either be a market leader or No.2. Air India provides that opportunity,” a person aware of the development said. However, Tata Sons management will not like to have a third airline venture and wants to merge Air India and Vistara in the future. Besides Vistara, Tata Sons owns a 51 percent stake in low-cost airline AirAsia India.

MARKET UPDATE:Sensex gained 200 points and rose to 46,300 levels and Niftywas testing the 13,600-mark

MARKET UPDATE:Sensex gained 200 points and rose to 46,300 levels and Niftywas testing the 13,600-mark

Monday, December 14, 2020

The equity markets in India logged their fresh lifetime highs and were trading half a percent higher on Monday, on the back of strong global cues. Among headline indices, the S&P BSE Sensex gained 200 points and rose as high as 46,300 levels. The broader Nifty50 index, meanwhile, was testing the 13,600-mark. ONGC (up 2%), Larsen & Toubro, NTPC, Tata Steel, and PowerGrid (all up 2%) were the top Sensex gainers. Shares of pharma major Cipla jumped over 4 percent after the company announced the settlement of its patent litigation with Celgene Corporation, a wholly-owned subsidiary of Bristol Myers Squibb, relating to patents for Revlimid (lenalidomide) All the Nifty sectoral indices, except the Nifty Realty index, were trading in the green, led by the Nifty PSU Bank index, up 1.7 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.5 per cent and 0.7 per cent higher, respectively. Read more

MARKET UPDATE:Sensex gained 300 points at 46,240 levels and Nifty topped the 13,550-mark

MARKET UPDATE:Sensex gained 300 points at 46,240 levels and Nifty topped the 13,550-mark

Friday, December 11, 2020

The Indian benchmark indices returned to their record-breaking ways after a day's break, logging fresh record highs in today's911th December 2020) morning deals. The S&P BSE Sensex gained 300 points, or 0.6 percent, at 46,240 levels and the Nifty50 index topped the 13,550-mark. ONGC (up 6%) was the top Sensex gainer, followed by NTPC, Tata Steel, and Bajaj Finance (all up 1%). Meanwhile, shares of UPL rose 3 percent after the management clarified that the matter flagged by a whistleblower was an old matter and was reported to the audit committee in 2017. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were up 0.6 percent and 0.9 percent, respectively

MARKET UPDATE:Sensex dipped 300 points at 45,790 levels and Nifty slipped below the 13,500-mark

MARKET UPDATE:Sensex dipped 300 points at 45,790 levels and Nifty slipped below the 13,500-mark

Thursday, December 10, 2020

The equity markets in India fell over half a percent in today's(10th December 2020) opening deals, on the back of weak global cues. Among the headline indices, the S&P BSE Sensex dipped 300 points, or 0.7 percent, to 45,790 levels, thereby giving away the 46,000-mark it had conquered in the previous session. The broader Nifty50 index also slipped below the 13,500-mark. Ultratech Cement (down 2%) was the top Sensex loser, followed by Tata Steel, Infosys, and Tech Mahindra (all down 1%). Shares of Indian Railway Catering and Tourism Corporation (IRCTC) fell as much as 15 percent after the company said the government will sell up to 20 percent stake in the company through an offer for sale on Thursday and Friday to raise Rs 4,374 crores. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 2 percent, leading the list of losers. Read more

MARKET UPDATE:Sensex up 280 points at 45,880 levels and Nifty topped the 13,450-mark

MARKET UPDATE:Sensex up 280 points at 45,880 levels and Nifty topped the 13,450-mark

Wednesday, December 9, 2020

The markets in India up half a percent, logged their fresh record high today(9th December 2020) on the back of firm global cues. Among headline indices, the S&P BSE Sensex gained 280 points, or 0.6 percent, at 45,880 levels and the Nifty50 index topped the 13,450-mark. ITC and IndusInd Bank (both up 1%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were both up 0.5 percent.

Fitch revises India's FY21 GDP contraction forecast

Fitch revises India's FY21 GDP contraction forecast

Tuesday, December 8, 2020

Fitch Ratings today(8th December 2020) raised India's GDP forecast to -9.4 percent in the current fiscal year to March 2021 from a previously projected contraction of 10.5 percent after the economy staged a sharper rebound in the second quarter. In its Global Economic Outlook, Fitch said the coronavirus recession has inflicted severe economic scarring and the country needs to repair balance sheets and increase caution about long-term planning. "We now expect GDP to contract 9.4 percent in the fiscal year to end-March 2021 (FY21) (+1.1 percentage point), followed by +11 percent growth (unchanged) and +6.3 percent growth (+0.3pp) in the following years," the rating agency said. The projections compare to a GDP growth of 4.2 percent in 2019-20 (April 2019 to March 2020) fiscal and 6.7 percent annual expansion between 2015 and 2019. Read more

MARKET UPDATE:Sensex rose 100 points to 45,530 levels and Nifty hit the 13,400-mark

MARKET UPDATE:Sensex rose 100 points to 45,530 levels and Nifty hit the 13,400-mark

Tuesday, December 8, 2020

The markets in India scaled new lifetime highs for the fourth consecutive session despite trading with meagre gains, on the back of mixed global cues, in today's(8th December 2020) morning deals. Among headline indices, the S&P BSE Sensex rose 100 points to 45,530 levels and the broader Nifty50 index hit the 13,400-mark. Ultratech Cement, Bharti Airtel, Maruti Suzuki, and HCL Tech (all up 1%) were the top Sensex gainers. Jet Airways was locked in a 5 percent upper circuit after the consortium of UAE-based businessman Murari Lal Jalan and London's Kalrock Capital said it expects to start operating the airline by the summer of 2021. Canara Bank also gained 5 percent after launching its Rs 2,000 crore QIP. The trend among Nifty sectoral indices was mixed, with the Nifty Auto index, up 0.9 percent, leading the list of gainers.

MARKET UPDATE:Sensex gained 150 points at 45,216 levels and Nifty surpassed the 13,300-mark

MARKET UPDATE:Sensex gained 150 points at 45,216 levels and Nifty surpassed the 13,300-mark

Monday, December 7, 2020

The markets in India scaled their fresh lifetime highs despite trading with meagre gains in today's( 8th December 2020) early deals, on the back of a mixed set of global cues. The S&P BSE Sensex gained 150 points, or 0.3 percent, at 45,216 levels and the Nifty50 index surpassed the 13,300-mark. ONGC (up 3%) was the top Sensex gainer, followed by Axis Bank, ICICI Bank, and Bharti Airtel was up 1 per cent, each. IRCTC, meanwhile, rose as high as 7 percent while Adani Ports hit a fresh lifetime high. The Nifty sectoral indices were trading largely in the green, led by Nifty PSU Bank index, up 0.8 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.3 per cent and 0.8 percent higher, respectively

Chris Wood hikes exposure to Indian equities

Chris Wood hikes exposure to Indian equities

Friday, December 4, 2020

The sharp up move from the March 2020 low in the absence of a meaningful recovery in corporate earnings has made Christopher Wood, global head of equity strategy at Jefferies sound caution against the expensive valuation of the Indian equity market. Yet, he has increased exposure to Indian equities in his Asia Pacific ex-Japan relative-return portfolio by one percentage point. Wood had recently hiked allocation to Indian equities in October 2020. “The Indian stock market is not cheap with the market trading at 21.6x 12-month forward consensus earnings. But the positive point is that the multiple should have a tendency to decline going forward. Jefferies expects over 30 percent earnings growth for the fiscal year 2022 (FY22) and 13.2 percent real GDP growth,” Wood wrote in his latest weekly note to investors, GREED & fear.

MARKET UPDATE:Sensex up 200 points at 44,860 levels and Nifty testing the 13,200-mark

MARKET UPDATE:Sensex up 200 points at 44,860 levels and Nifty testing the 13,200-mark

Friday, December 4, 2020

The equity markets in India were trading half a percent higher in today's(4th December 2020) early morning deals ahead of the announcement of the decision of RBI's monetary policy committee. Among headline indices, the S&P BSE Sensex gained 200 points, or 0.5 percent, at 44,860 levels and the Nifty50 index was testing the 13,200-mark. Ultratech Cement (up 4%) was the top Sensex gainer, followed by Bharti Airtel, Mahindra & Mahindra, and Larsen & Toubro (all up 1%).

MARKET UPDATE:Sensex gained 150 points at 44,800 levels and Nifty hovered around 13,160-mark

MARKET UPDATE:Sensex gained 150 points at 44,800 levels and Nifty hovered around 13,160-mark

Thursday, December 3, 2020

The equity markets in India were trading with marginal gains in today's(3rd December 2020) early morning deals after opening at record high levels. Meanwhile, the volatility index, India VIX, cooled off over 7 percent to 18.5 levels. Among individual stocks, the S&P BSE Sensex gained 150 points at 44,800 levels. The index hit an intra-day high of 44,953, also its fresh lifetime high. The Nifty50 index hovered around 13,160-mark. Maruti Suzuki, up 4 percent, was the top Sensex gainer, followed by ONGC, Tata Steel, Larsen & Toubro, and State Bank of India (all up 1 percent). IndiGo, meanwhile, gained 2 percent after the company said it has reached 70 percent of its pre-Covid capacity and is operating 1,000 daily international and domestic flights. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1 percent.

MARKET UPDATE:Sensex 100-odd points down at 44,560 levels and Nifty slipped below the 13,100-mark

MARKET UPDATE:Sensex 100-odd points down at 44,560 levels and Nifty slipped below the 13,100-mark

Wednesday, December 2, 2020

The Indian markets were trading marginally lower in today's(2nd December 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex was trading 100-odd points down at 44,560 levels and the Nifty50 index slipped below the 13,100-mark. Maruti Suzuki, Asian Paints, Titan, and Bajaj Auto (all up 1%) were the top Sensex gainers. Tata Motors rose over 3 percent after the company's November sales also grew to 49,650 vehicles from 41,124 units in the year-ago period. The trend among Nifty sectoral indices was mixed, with Nifty Pharma and Nifty Auto indexes, both up 1 percent, leading the list of gainers. The broader indices outperformed the benchmarks, with the S&P BSE MidCap and SmallCap indices trading 0,3 percent and 0.5 percent higher, respectively.

Indian manufacturing sector on the right path to recovery

Indian manufacturing sector on the right path to recovery

Tuesday, December 1, 2020

"The Indian manufacturing sector remained on the right path to recovery, with strong growth of new orders and output sustained during November," Pollyanna De Lima, Economics Associate Director at IHS Markit, said. While all three broad areas of the manufacturing industry recorded expansion, the consumer goods segment led the growth, the only sector to see a stronger rate of increase, the report said. It is believed that the loosening of Covid-19 restrictions, combined with an improvement in market conditions and a pick-up in demand, supported another increase in production, it said. According to the PMI report based on a survey of 500 private sector companies, new export orders expanded at the quickest rate in one year. Read more

MARKET UPDATE:Sensex up 200 points at 44,350 level and Nifty hovered above the 13,000-mark

MARKET UPDATE:Sensex up 200 points at 44,350 level and Nifty hovered above the 13,000-mark

Tuesday, December 1, 2020

The Indian benchmark indices were trading nearly half a percent higher today(1st December 2020), amid mixed global cues. Among headline indices, the S&P BSE Sensex was up 200 points at the 44,350 level and the Nifty50 index hovered above the 13,000-mark. Ultratech Cement (up 3%) was the top Sensex gainer, followed by Infosys, Sun Pharma Powergrid, and Bajaj Auto (all up 1%). The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 1 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indices were trading half a percent higher, each.

MARKET UPDATE:Sensex up 70 points at 44,330 levels and Nifty hovered around the 13,000-mark

MARKET UPDATE:Sensex up 70 points at 44,330 levels and Nifty hovered around the 13,000-mark

Friday, November 27, 2020

The equity markets in India were trading flat with a positive bias in today's( 27th November 2020) early deals, on the back of mixed global cues. The S&P BSE Sensex was up 70 points at 44,330 levels and the Nifty50 index hovered around the 13,000-mark. NTPC (up 2%) was the top Sensex gainer, followed by Asian Paints, Maruti Suzuki, and Nestle India (all up 1%). Nearly all the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 1 percent.

Crude price rally to benefit Indian equities

Crude price rally to benefit Indian equities

Thursday, November 26, 2020

The Indian equity markets corrected yesterday(25th November 2020) after hitting a lifetime high earlier in the day. The benchmark Nifty50 index ended with losses of around 200 points, the biggest one-day fall in nearly a month. This sharp reversal was attributed to a rally in crude oil prices. On Wednesday, Brent crude price hit an eight-month high of $48 to a barrel as traders bet on a faster-than-expected recovery in energy demand and a likely production cut by members of the Organization of Petroleum Exporting Countries (Opec) and Russia later this month. Some analysts believe higher crude oil prices could significantly increase India’s energy import bill creating pressure on the current account balance, apart from raising input costs for companies in sectors ranging from metals and mining, chemicals, paints, personal care, cement, petrochemical, plastics, and agro-chemicals. Read more

MARKET UPDATE:Sensex hovered around 43,840 levels and Nifty held the 12,850 mark

MARKET UPDATE:Sensex hovered around 43,840 levels and Nifty held the 12,850 mark

Thursday, November 26, 2020

The markets in India were trading flat with a positive bias, on the back of mixed global cues, in today's(26th November 2020) early deals ahead of the expiry of November series derivative contracts. The S&P BSE Sensex hovered around 43,840 levels and the Nifty50 index held the 12,850. Larsen & Toubro, Bajaj Auto, Mahindra & Mahindra, and Titan (all up 1%) were the top Sensex gainers, Siemens, meanwhile, rose 6 percent after announcing its September quarter results. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, up 0.9 percent, leading the list of gainers.

Dalal St Selloff: Investors lost Rs 2 lakh crore

Dalal St Selloff: Investors lost Rs 2 lakh crore

Wednesday, November 25, 2020

Benchmark indices took a beating after hitting record highs earlier today, led by across the board selling. Indices fell ahead of the monthly settlement of futures and options contracts on Thursday. By the close, Indian investors had lost nearly Rs 2.26 lakh crore in wealth, with shares of the three most valuable companies seeing m-cap erosion of Rs 39,581 crore. IT and banking stocks were hit badly. 211 stocks hit their lower circuit limits. Select midcaps fell up to 7 percent. Read more

MARKET UPDATE:Sensex hit a fresh lifetime high of 44,825 while Nifty surpassed the 13,100-mark

MARKET UPDATE:Sensex hit a fresh lifetime high of 44,825 while Nifty surpassed the 13,100-mark

Wednesday, November 25, 2020

The Indian markets extended their record-breaking run today(25th November 2020) on the back of favourable global cues. Among headline indices, the S&P BSE Sensex rose 250 points to hit a fresh lifetime high of 44,825 while the Nifty50 index surpassed the 13,100-mark. ONGC (up 5%) was the top Sensex gainer, followed by State Bank of India, ICICI Bank, Tata Steel, and Axis Bank (all up 1%). Meanwhile, HDFC Bank joined the elite club of Rs 8-trillion market capitalization (market-cap) on the BSE, after its share price hit a new high of Rs 1,464 after rising nearly 2 percent today. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, which rose 1.2 percent to an over a 9-month high while surpassing the level of 30,000. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.12 percent and 0.3 percent higher, respectively.

Nifty at 13,000-mark and Sensex at record peak: Is it time to book profits?

Nifty at 13,000-mark and Sensex at record peak: Is it time to book profits?

Tuesday, November 24, 2020

The rally of Indian equities reached a new high today(24th November 2020) when the Nifty50 index surpassed the 13,000-mark for the first time ever. The S&P BSE Sensex, meanwhile, kissed the 44,500-mark in intra-day deals. A cocktail of better-than-expected earnings, improved Goods and Services Tax (GST) collection, better macro-data, and progress in Covid-19 vaccine development have pushed the markets to their peaks, analysts say. That said, while the markets look poised for a sustained uptrend, investors may consider profit-booking gradually, according to some analysts. Four virus-vaccines – one each by Pfizer and BioNTech; AstraZeneca and Oxford; Sputnik V; and Moderna Inc – have shown over 90 percent efficacy. The development, analysts say, will trigger rallies in the beaten-down and cyclical stocks, while starting the cycle of economic recovery. Read more

MARKET UPDATE:Sensex gained 300 points at 44,380 levels and Nifty hit 13,000 mark for the first time ever

MARKET UPDATE:Sensex gained 300 points at 44,380 levels and Nifty hit 13,000 mark for the first time ever

Tuesday, November 24, 2020

The Indian benchmark indices logged their respective fresh lifetime highs today(24th November 2020), on the back of favourable global cues. The S&P BSE Sensex gained 300 points at 44,380 levels and the broader Nifty50 index hit the psychological level of 13,000 for the first time ever. Maruti Suzuki gained 2 percent and was the top Sensex gainer. Besides, HDFC Bank, Axis Bank, Larsen & Toubro, ICICI Bank, and Mahindra & Mahindra also gained 1 percent, each. All the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 1.3 percent.

MARKET UPDATE:Sensex hovered around 43,880 levels and Nifty gave up 12,950 level

MARKET UPDATE:Sensex hovered around 43,880 levels and Nifty gave up 12,950 level

Monday, November 23, 2020

The equity markets in India pared all gains and were trading flat in today's(23rd November 2020) early deals, dragged largely by financials. Among headline indices, the S&P BSE Sensex hovered around 43,880 levels. The index had risen as high as 44,271, earlier in the day. The Nifty50 index also gave up 12,950. Reliance Industries gained over 3 percent in early deals after the Competition Commission of India cleared RIL's bid to buy Future group's retail, wholesale, and logistics assets amid a legal battle with Amazon. Besides, Bajaj Finserv and IndusInd Bank rose 3 percent each and were among the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1 percent. In the broader markets, the S&P BSE MidCap and SmallCap indices were trading 0.7 percent higher, each.

Lakshmi Vilas Bank under Moratorium by RBI

Lakshmi Vilas Bank under Moratorium by RBI

Wednesday, November 18, 2020

Shares of Lakshmi Vilas Bank was locked in 20 per cent lower circuit in the early trade on November 18 after Reserve bank of India has the Bank under a moratorium with effect from November 17 6 pm till December 16, 2020, and capped deposit withdrawals by customers to Rs 25,000. The Reserve Bank of India (RBI) in the draft scheme of amalgamation has said that the shares or debentures of the Lakshmi Vilas Bank, listed in any stock exchange shall stand delisted upon the merger with DBS Bank India “On and from the appointed date, the entire amount of the paid-up share capital and reserves and surplus, including the balances in the share/securities premium account of the transferor bank, shall stand written off,” the draft scheme said. In this merger shareholder of LVB will not get any benefit, After looking at continuous withdrawal of deposits, erosion of net worth, and escalation asset quality issues RBI took the right step to prevent interest of depositor and financials market. Read more

MARKET UPDATE:Sensex hit a new record high of 44,161 level and Nifty hit new high of 12,934

MARKET UPDATE:Sensex hit a new record high of 44,161 level and Nifty hit new high of 12,934

Tuesday, November 17, 2020

Indian equity indices hit scaled fresh lifetime highs today(17th November 2020) as positive news from Moderna Inc, that its Covid-19 vaccine has a 94.5 percent efficacy rate, boosted investor sentiment. Indices surpassed their previous highs touched on November 14 during the special one-hour Muhurat Trading. Among frontline indices, the S&P BSE Sensex hit a new record high of 44,161 levels in the opening deals, surpassing the previous high of 43,830.93 level. It was, however, later trading around 43,938 levels, up 300 points or 0.7 percent. Tata Steel (up 4 percent), State Bank of India and Bharti Airtel (up 2 percent each), and Reliance Industries (up 1 percent) were the top gainers on the 30-share index. The broader Nifty50, meanwhile, hit a new high of 12,934, but later retreated to 12,882 levels, up 100 points. The index surpassed the previous lifetime high of 12,828.7. Read more

MARKET UPDATE:Sensex fell 210 points to 43,150 levels and Nifty gave up the 12,650 level

MARKET UPDATE:Sensex fell 210 points to 43,150 levels and Nifty gave up the 12,650 level

Friday, November 13, 2020

The markets in India were trading with half a percent cut amid weak global cues. The S&P BSE Sensex fell 210 points, or 0.5 percent, to 43,150 levels and the broader Nifty50 index gave up the 12,650 level. IndusInd Bank and Larsen & Toubro (both down 2%) were the top Sensex losers. On the other hand, Titan, Asian Paints, and Reliance Industries gained 1 percent, each. Meanwhile, Eicher Motors rose 3 percent after announcing its September quarter results. The trend among Nifty sectoral indices was largely negative, with the Nifty Bank index and Nifty Metal index down over percent, each. Five hundred and four companies including ONGC, Tata Steel, Eveready Industries, and Future Retail are set to declare their results today.

Moody's raises India's 2020 GDP forecast to -8.9 from -9.6%

Moody's raises India's 2020 GDP forecast to -8.9 from -9.6%

Thursday, November 12, 2020

Moody's today(12th November 2020) raised India's GDP forecast for the calendar year 2020 upwards to -8.9 percent contraction from -9.6 percent contraction forecast earlier. Similarly, India's GDP forecast for the calendar year 2021 has been revised upwards to 8.6 percent from 8.1 percent projected earlier. The report released by Moody's Investors Service attributed the reason behind better growth to the falling of coronavirus cases in the country. "The test positivity rate has fallen below 5 percent in India and below 10 percent in South Africa. Fatality rates have also steadily declined in most emerging market countries, similar to the trends in advanced economies. If these trends are sustained, greater mobility and social interactions will be likely over time. In addition, the development and dissemination of a vaccine will make the pandemic itself a less important macro factor in 2021 and 2022," the report stated. Read more

Sensex fell 100 points to 43,520 levels and Nifty overed around 12,710 marks

Sensex fell 100 points to 43,520 levels and Nifty overed around 12,710 marks

Thursday, November 12, 2020

The equity markets in India were trading marginally lower, amid mixed global cues, today (12th November 2020). A Reuters report said that the Centre is likely to unveil another stimulus package of about $20 billion this week focusing on stressed sectors, middle-income groups in urban and rural areas, and employment generation before Diwali. Among headline indices, the S&P BSE Sensex fell 100 points to 43,520 levels and the Nifty50 index hovered around 12,710 marks. HDFC, Kotak Mahindra Bank, IndusInd Bank, and ICICI Bank were all trading 1 percent down. On the other hand, M&M and Titan gained 2 and 1 percent, respectively. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 1 percent, leading the list of gainers. Eight hundred and eight companies including Eicher Motors, IRCTC, and Jubilant FoodWorks are set to declare their quarterly earnings today.

India's exports show signs of improvement

India's exports show signs of improvement

Tuesday, November 10, 2020

India's exports grew 22.47 per cent year-on-year to $6.75 billion in the first week of November, Showing signs of improvement, mainly driven by healthy growth in pharmaceuticals, gems and jewellery and engineering sectors, an official said today(10th November 2020). The exports during the first week of November last year was $5.51 billion. Imports in November (1st - 7th) this year too increased by 13.64 percent year-on-year to $9.30 billion as against $8.19 billion, the official said. Imports, excluding petroleum, jumped 23.37 percent during the week, the official added. The trade deficit during the week stood at $2.55 billion. Exports of pharmaceuticals, and gems and jewelry grew 32 per cent to $139.12 million and 88.8 per cent to $3,360.71 million, respectively. Read more

MARKET UPDATE:Sensex gained 100 points at 42,700 levels and Nifty topped the 12,500-mark

MARKET UPDATE:Sensex gained 100 points at 42,700 levels and Nifty topped the 12,500-mark

Tuesday, November 10, 2020

The markets in India were trading at record high levels for the second consecutive day today(10th November 2020) after Pfizer said its experimental Covid-19 vaccine was more than 90 percent effective based on initial trial results. Among benchmarks, the S&P BSE Sensex gained 100 points at 42,700 levels and the Nifty50 index topped the 12,500-mark. HDFC, ICICI Bank, Larsen & Toubro, and State Bank of India were all up 2 percent each. Meanwhile, Pfizer zoomed 19 percent in early deals on the Covid vaccine-related development. The Nifty sectoral indices were mixed, with gains in the Nifty Bank index, up 1.5 percent, being offset by the Nifty IT index, down 2 percent. Five hundred and thirty-five companies including GAIL India, Mahindra & Mahindra, Hindalco Industries, and Tata Power are scheduled to announce their quarterly earnings today.

India looks to rural sector to rescue virus-ravaged economy

India looks to rural sector to rescue virus-ravaged economy

Monday, November 9, 2020

India’s economy suffered badly by the pandemic is drawing energy from one of its rather unexpected engines: farmers. Business leaders, policymakers, and politicians alike are pinning hopes on the rural sector as bountiful rains have set the stage for another year of record crops. Higher disposable incomes with farmers are expected to boost demand from automobile to cement to gold jewelry. That contrasts with the urban areas, where companies are still struggling to boost their sales following the pandemic that has hit business activities, hurt demand, and caused labor shortage. The adverse impact of the world’s strictest lockdown in March continues to haunt, but the hinterland is holding out hope. Read more

MARKET UPDATE:Sensex surged over 600 points to as high as 42,534 and Nifty hit 12,445.2

MARKET UPDATE:Sensex surged over 600 points to as high as 42,534 and Nifty hit 12,445.2

Monday, November 9, 2020

The Indian benchmark indices hit their respective fresh lifetime highs after making a firm start today(9th November 2020) as clarity emerged on the US presidential polls front. Among the headline indices, the S&P BSE Sensex surged over 600 points to as high as 42,534 and the Nifty50 index hit 12,445.2, surpassing their previous record highs of 42,273.87 and 12,430.5, respectively, hit in January 2020. ICICI Bank, Infosys, HCL Tech, and Powergrid rose 2 percent each and were the top Sensex gainers. All the BSE constituents were trading in the green. The Nifty sectoral indices were also painted green, led by gains in the Nifty Bank index, up 1.6 percent. Two hundred and fifty-three companies, including Equitas Small Finance Bank, IndiaMART InterMESH, and JK Cement, are set to announce their September quarter earnings today.

Payments on WhatsApp go live in India

Payments on WhatsApp go live in India

Friday, November 6, 2020

WhatsApp pay owned by Facebook Mr. Zuckerberg can go live from Nov 5th using the homegrown, multibank Unified Payments Interface, its operator the National Payments Corporation of India said in a statement Thursday. While introducing a 30 per cent cap on the number of UPI transactions that can be processed by third-party apps like Google Pay, PhonePe and others. Also, payments are available now in 10 Indian regional language versions of the platform. The two decisions have the potential to change India’s digital payments landscape. While WhatsApp, which had one million people using its beta app, can extend the payments service to another 19 million users, the 30 per cent cap will provide a level playing field and prevent a monopoly from getting created on the UPI space. Read more

MARKET UPDATE:Sensex gained 300 points at 41,650 levels and Nifty topped the 12,200-mark

MARKET UPDATE:Sensex gained 300 points at 41,650 levels and Nifty topped the 12,200-mark

Friday, November 6, 2020

The equity markets in Indian were trading firm today's(6th November 2020) early deals, up over half a percent, amid mixed global cues. The S&P BSE Sensex gained 300 points at 41,650 levels and the Nifty50 index topped the 12,200-mark. Reliance Industries was up 2 percent after the conglomerate said that Saudi Arabia’s Public Investment Fund will invest Rs 9,555 crore for a 2.04 percent equity stake in Reliance Retail. Besides, Bajaj Finserv and HDFC were also up 1 percent each. The Nifty sectoral indices were trading mixed. In the broader market, the S&P BSE MidCap and SmallCap indexes were up 0.6 percent, each. Two hundred and nineteen companies including ITC, Cipla, Ashok Leyland, and Bank of India are scheduled to declare their quarterly earnings today. Read more

India-made COVID-19 vaccine could be launched by February?

India-made COVID-19 vaccine could be launched by February?

Thursday, November 5, 2020

An Indian government-backed COVID-19 vaccine could be launched as early as February as last-stage trials begin this month and studies have so far shown it is safe and effective, according to sources. Bharat Biotech, a private company that is developing COVAXIN with the government-run Indian Council of Medical Research (ICMR), had earlier hoped to launch it only in the second quarter of next year. "The vaccine has shown good efficacy," senior ICMR scientist Rajni Kant, who is also a member of its COVID-19 task-force, said at the research body's New Delhi headquarters on 5th November 2020.. "It is expected that by the beginning of next year, February or March, something would be available." A launch in February would make COVAXIN the first India-made vaccine to be rolled out. Read more

MARKET UPDATE:Sensex gained 500 points at 41,144 levels and Nifty topped the 12,000-mark

MARKET UPDATE:Sensex gained 500 points at 41,144 levels and Nifty topped the 12,000-mark

Thursday, November 5, 2020

The equity markets in India made a firm start today(5th November 2020), up over 1 percent, amid favourable global cues as Democrat candidate Joe Biden inched closer to the win in the US Presidential Elections 2020. The S&P BSE Sensex gained 500 points at 41,144 levels while the broader Nifty50 index topped the 12,000-mark for the first time since October 21, 2020. The Nifty50 index rose to above 12,050 level, the highest level in more than eight months. Among individual stocks, SBI rose over 6 percent, after the Q2 results, and was the top Sensex gainer, followed by HCL Tech (up 4 percent). Besides, other tech stocks Tech Mahindra and Infosys were also up 2 percent each. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 3 percent. The broader markets were also up, but not to the extent of the benchmarks. The S&P BSE MidCap and SmallCap indexes were both ruling 0.8 percent higher. Read more

MARKET UPDATE:Sensex gained 280 points to 40,530 levels and Nifty was above the 11,850-mark

MARKET UPDATE:Sensex gained 280 points to 40,530 levels and Nifty was above the 11,850-mark

Wednesday, November 4, 2020

The Indian equity markets rose over half a percent today(4th November 2020) as early trends showed Democratic candidate Joe Biden racing ahead of Republican Donald Trump in the US presidential elections. Among the headline indices, the S&P BSE Sensex gained 280 points, or 0.7 percent, to 40,530 levels and the Nifty50 index was above the 11,850-mark. Infosys, Sun Pharma, and HCL Tech (all up 3%) were the top Sensex gainers. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 2 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indices were up half a percent, each. Ninety-one companies including State Bank of India, Lupin, and Adani Enterprises, are scheduled to announce their quarterly results today. Read more

MARKET UPDATE:Sensex gained 400 points to 40,190 levels and Nifty testing the 11,800-mark

MARKET UPDATE:Sensex gained 400 points to 40,190 levels and Nifty testing the 11,800-mark

Tuesday, November 3, 2020

The equity markets in India were trading firm today, up over 1 percent, on the back of favourable global cues, ahead of the US presidential polls. Among the headline indices, the S&P BSE Sensex gained 400 points, or 1.1 percent, to 40,190 levels and the Nifty50 index was testing the 11,800-mark. ICICI Bank (up 4%) was the top Sensex gainer, followed by State Bank of India, IndusInd Bank, and HDFC Bank (all up 2%). NTPC also ticked up in early deals after its board approved the buyback of 197.8 million equity shares at a price of Rs 115 per unit. All the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 2 percent, which was trading at its highest level since March 13. Read more

India's factory output hits decade high in October as demand bounces back

India's factory output hits decade high in October as demand bounces back

Monday, November 2, 2020

Factory activity in India expanded at its fastest pace in over a decade in October as demand and output continued to recover strongly from coronavirus-related disruptions, but firms cut more jobs, as per a private survey. Indian economy is healing after shrinking a record 23.9 percent in the April-June quarter. The Indian government has removed most restrictions imposed to control the spread of the virus, though infections continue to climb and now number over 8 million people. The Nikkei Manufacturing Purchasing Managers' Index INPMI=ECI, compiled by IHS Markit, rose to 58.9 in October from September's 56.8. The reading was the highest since May 2010 and above the 50-level separating growth from contraction for the third straight month. "Levels of new orders and output at Indian manufacturers continued to recover from the Covid-19 induced contractions seen earlier in the year," said Pollyanna De Lima, economics associate director at IHS Markit. Read more

MARKET UPDATE:Sensex dipped 90 points at 39,500 levels and the Nifty neared the 11,600-mark

MARKET UPDATE:Sensex dipped 90 points at 39,500 levels and the Nifty neared the 11,600-mark

Monday, November 2, 2020

The equity markets in India pared its early gains and slipped into the red in today's(2nd November 2020) volatile session, ahead of the Supreme Court hearing in the interest waiver case. The S&P BSE Sensex dipped 90 points at 39,500 levels and the Nifty50 index neared the 11,600-mark. ICICI Bank rose over 6 percent after announcing its September quarter results. The stock was the top Sensex gainer. Besides, IndusInd Bank was also up 3 percent. On the other hand, Reliance Industries dipped 4 percent post Q2 results. The Nifty sectoral indices were trading largely in the green, led by the Nifty Bank index, up 1.3 percent. in the broader market, the S&P BSE MidCap index was up 0.2 percent while the SmallCap index fell 0.4 percent. Equitas Small Finance Bank will debut on the bourses today after the issue price was fixed at Rs 33 per share. The Rs 518 crore public issue was subscribed to 1.95 times. Read more

Bidding parameter changed for Air India,deadline extended till Dec 14

Bidding parameter changed for Air India,deadline extended till Dec 14

Friday, October 30, 2020

The government has changed a bidding parameter for airline Air India, allowing potential buyers to quote enterprise value instead of equity value. Simultaneously, the deadline for submitting bids has been extended to December 14 from October 30. Civil Aviation Minister Hardeep Singh Puri said this would entice bidders who till now had constructed the debt amount as a minimum threshold bid amount. The Tata group, which operates two airlines Vistara and AirAsia India, is a favourite for acquiring the national carrier. “We expect to complete the bidding process by end of December,” Puri said. The enterprise value of a company includes the equity value, debt as well as cash with the company. Equity value measures the value of a company’s shares. However, the government has mandated that a willing bidder will have to pay 15 percent of his quote as upfront cash payment, disinvestment secretary Tuhin Kanta Pandey said.

MARKET UPDATE:Sensex up by 120 points,hovered around 39,870 levels,and Nifty holding 11,650-mark

MARKET UPDATE:Sensex up by 120 points,hovered around 39,870 levels,and Nifty holding 11,650-mark

Friday, October 30, 2020

The Indian benchmark indices rose half a percent after a volatile start today(30th October 2020). Among headline indices, the S&P BSE Sensex hovered around 39,870 levels, up 120 points, and the Nifty50 index was holding the 11,650-mark. Nestle India, IndusInd Bank, and HCL Tech (all up 1%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1 percent. Meanwhile, in the broader market, the S&P BSE MidCap and SmallCap indexes were ruling 0.9 percent and 0.8 percent higher, respectively. Seventy -seven companies including Reliance Industries, IndusInd Bank, DLF are slated to report their quarterly earnings today. In a Bloomberg poll, 14 analysts estimated a net profit of Rs 8,194 crore for Reliance Industries; 10 analysts estimated revenue of Rs 1.11 trillion for the company.

Yearly gold demand in 2020 can be the lowest since 1995 in India: WGC

Yearly gold demand in 2020 can be the lowest since 1995 in India: WGC

Thursday, October 29, 2020

The 2020 calendar year may turn out to be the worst year for gold demand in India since 1995. According to the World Gold Council (WGC), gold demand in India so far in CY20 stands at 252 tonnes, as compared to 496 tonnes in the same period last year. Even if October – December 2019 (Q4CY19) demand of 194 tonnes is added to the CY20 demand till now, the total demand for CY20 will be lower compared to CY19 total demand of 696 tonnes. As per WGC data, the calendar year 1995 was the worst with the yearly gold demand in India at 462 tonnes, which improved marginally to 511 tonnes in 1996, 547 tonnes in 2002, and 642 tonnes in 2009. Read more

MARKET UPDATE:Sensex dipped 250 points to 39,630 levels and the Nifty fell below 11,650-mark

MARKET UPDATE:Sensex dipped 250 points to 39,630 levels and the Nifty fell below 11,650-mark

Thursday, October 29, 2020

The equity markets in India fell over half a percent today(29th October 2020), on weak global cues, ahead of the expiry of the October series derivative contracts. The S&P BSE Sensex dipped 250 points to 39,630 levels and the Nifty50 index fell below 11,650-mark. Larsen & Toubro slid 4 percent after announcing its September quarter results. The stock was the top Sensex loser in early deals. Besides, Titan (down 3%) and Tech Mahindra (down 2%) were the other main drags. The Nifty sectoral indices were a sea of red, with Nifty Bank, Nifty Auto, Nifty IT, and Nifty Metal all trading with over 1 percent cut. In the broader market, the S&P BSE MidCap and SmallCap indexes were down half a percent and 1 percent, respectively. Eighty -two companies including Maruti Suzuki, BPCL, Bank of Baroda, Vodafone Idea, and InterGlobe Aviation, are scheduled to declare their quarterly earnings today. Read more

Indian economy's animal spirits soar

Indian economy's animal spirits soar

Wednesday, October 28, 2020

The economy in India picked up speed in September as a revival in demand and business activity helped drive the nation toward recovery from the pandemic-induced slump. Five of the eight high-frequency indicators, including exports, tracked by Bloomberg News improved last month, while three were steady. That helped move the needle on a dial measuring the so-called ‘Animal Spirits’ to 5 from 4 in August -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. Economists, including those at the Reserve Bank of India, attributed the recovery to pent-up demand after a strict lockdown imposed in March to contain the coronavirus outbreak hit the consumption of goods and services. While inventory re-stocking will underpin business activity in the coming months, the improvement might still not be enough to prevent Asia’s third-largest economy from contracting in the financial year to March 2021. Read more

MARKET UPDATE:Sensex up 80 points at 40,590 levels and the Nifty reclaimed the 11,900-mark

MARKET UPDATE:Sensex up 80 points at 40,590 levels and the Nifty reclaimed the 11,900-mark

Wednesday, October 28, 2020

The equity markets in India were trading flat with a positive bias in today's(28th October 2020) early morning deals after a volatile start. The S&P BSE Sensex was up 80 points, or 0.2 percent, at 40,590 levels and the broader Nifty50 index reclaimed the 11,900-mark. Bharti Airtel surged 10 percent after announcing its September quarter results. Besides, Mahindra & Mahindra, Axis Bank, and Reliance Industries (all up 1%) were the other top gainers. On the other hand, Kotak Mahindra Bank, HDFC, and Ultratech Cement (all down over 1%) were the top Sensex laggards. Hero MotoCorp was also up 4 percent after it announced a wide-ranging partnership with Harley-Davidson for the Indian market. The Nifty sectoral indices were mixed, with gains in the Nifty IT index, up 0.7 percent, being offset by the Nifty Financials index, down 0.6 percent. Read more

Indian economy saw growth rebound through Q2FY21: Nomura

Indian economy saw growth rebound through Q2FY21: Nomura

Tuesday, October 27, 2020

The Indian economy saw growth rebound through the second quarter of the ongoing fiscal with gross domestic product (GDP) contraction likely to have narrowed to -10.4% from the sharp -23.9% seen in the previous quarter, according to Nomura. The Nomura Monthly Activity Indicator, which takes into account high-frequency indicators from across sectors, improved to -8.6% year-on-year in September from -19.7% in August and a record low of -37.8% in June, “implying a swift GDP growth rebound”, the firm said in a report today. In the run-up to the festive season, aggregate demand recovered to 77% of normal in September against 71% recorded in the month earlier while aggregate supply picked up to 92% of normal in September against 86% in August, it said.

India, US sign landmark defence pact

India, US sign landmark defence pact

Tuesday, October 27, 2020

India and the United States today(27th Oct.2020) inked a landmark defence agreement that will allow sharing of high-end military technology, classified satellite data and critical information between the two countries. The signing of the long-negotiated Basic Exchange and Cooperation Agreement (BECA) during the third edition of the 2+2 dialogue between the two strategic partners also signals further boosting of bilateral defence and military ties and it comes in the backdrop of India's tense border standoff with China in eastern Ladakh. External Affairs Minister S Jaishankar and Defence Minister Rajath Singh held the talks with US Secretary of State Mike Pompeo and Defence Secretary Mark T Esper. Both sides were assisted by their top military and security officials. Read more

MARKET UPDATE: Sensex hovered around 40,050 levels, and Nifty gave up the 11,750 level

MARKET UPDATE: Sensex hovered around 40,050 levels, and Nifty gave up the 11,750 level

Tuesday, October 27, 2020

The markets in India turned flat in today's(27th October 2020) volatile start on the back of weak global cues. Among headline indices, the S&P BSE Sensex hovered around 40,050 levels, and the Nifty50 index gave up the 11,750 level. Kotak Mahindra Bank, up 5 percent, was the top Sensex gainer, followed by NTPC (up 4%) and Nestle India (up 2%). The trend among Nifty sectoral indices was largely in the red, led by the Nifty PSU Bank index, down 1.2 percent. In the broader market, the S&P BSE MidCap index was up 0.2 percent while the SmallCap index fell by 0.2 percent. Thirty-seven companies including Bharti Airtel, Tata Motors, and Amara Raja Batteries are scheduled to announce their September quarter earnings today. Read more

Amazon.com Inc. and RIL fight for dominance of India’s e-commerce space

Amazon.com Inc. and RIL fight for dominance of India’s e-commerce space

Monday, October 26, 2020

Amazon.com Inc. and RIL’s fight for dominance of India’s e-commerce space is turning into a face-off, with both sides battling over the assets of a supermarket chain that could be key to their wider ambitions. Ambani and Jeff Bezos want the stores and warehouses of Future Retail Ltd., which has penetrated Indian cities and small towns with sales of everything from grocery to fashion and electronics. Amazon, which owns a stake in a Future unit, and Reliance have in recent months made pacts with the Future Group, which they say are now being violated. Amazon wants to block Reliance’s purchase of Future’s brick-and-mortar assets because such a deal would give Ambani unparalleled dominance in the only billion-people economy open to foreign firms. Bezos has bet more than $6 billion on India, and Future’s assets will allow it to reach small towns that house key consumers in a market estimated to swell to $1 trillion.

PM Modi to inaugurate India Energy Forum:India may see $206 bn investment in oil and gas

PM Modi to inaugurate India Energy Forum:India may see $206 bn investment in oil and gas

Monday, October 26, 2020

The country's oil and natural gas sector is likely to see investment to the tune of $206 billion during the next eight to ten years.With Prime Minister Narendra Modi addressing the top global executives at the India Energy Forum by CERA Week 26th Oct.2020, it is expected he would further entice companies to promote a cor a self-reliant India. This when the domestic fuel market is recovering from the pandemic-driven decline. The three-day forum will see participation from Dan Brouillette (US Secretary of Energy), Prince Abdulaziz (Minister of Energy of Saudi Arabia) and Sultan Ahmed Al Jaber (CEO of Abu Dhabi National Oil Company). “The importance of such a global meet comes when you realize that the country is set to see such large investment this decade. Read more

MARKET UPDATE:Sensex slipped 150 points to 40,540 levels and the Nifty slipped below the 11,900-mark

MARKET UPDATE:Sensex slipped 150 points to 40,540 levels and the Nifty slipped below the 11,900-mark

Monday, October 26, 2020

The Indian benchmark indices dipped slightly in today's(26th October 2020) early deals, tracking mixed cues in other Asian markets. The S&P BSE Sensex slipped 150 points, or 0.36 percent, to 40,540 levels and the Nifty50 index slipped below the 11,900-mark. Tech Mahindra (down 2%) and Reliance Industries (down 1%) were the top Sensex drags. On the other hand, IndusInd Bank gained 4 percent on a report that Kotak Mahindra Bank was exploring an all-stock takeover of the bank. Meanwhile, Nestle India rose as high as 2 percent after the announcement of its September quarter results. The trend among the Nifty sectoral indices was largely negative, with the Nifty Metal index, down 1 percent leading the list. In the broader market, the S&P BSE Sensex slipped 0.14 percent while the S&P BSE SmallCap index gained 0.3 percent. Read more

MARKET UPDATE:Sensex rose 140 pointsto 40,700 levels and the Nifty testing 12,000-mark

MARKET UPDATE:Sensex rose 140 pointsto 40,700 levels and the Nifty testing 12,000-mark

Friday, October 23, 2020

The markets in India advanced close to half a percent in today's(23rd October 2020) early deals, in line with the overnight gains in the main Wall Street indices. The S&P BSE Sensex rose 140 points, or 0.35 percent, to 40,700 levels and the Nifty50 index was testing the psychological mark of 12,000. Tata Steel (up 2%), ICICI Bank, HDFC Bank, and Bharti Airtel (all up 1%) were the top Sensex gainers. Meanwhile, SBI Cards plunged 10 percent after announcing its September quarter results. All the Nifty sectoral indices were trading higher, led by the Nifty Bank index, up 1 percent. The broader market tracked the gains in the headline indices, with the S&P BSE MidCap and SmallCap indices trading half a percent higher, each. Tech Mahindra, Nestle India, Yes Bank, and ICICI Lombard General Insurance Company are among the 38 companies set to announce quarterly earnings today. Read more

GOI sets aside $7 bn for COVID-19 vaccination

GOI sets aside $7 bn for COVID-19 vaccination

Thursday, October 22, 2020

Govt of India has set aside about 500 billion rupees ($7 billion) to vaccinate the world’s most populous nation after China against the coronavirus, according to some sources. The govt estimates an all-in cost of about $6-$7 per person in the nation of 1.3 billion, it is said. The money provisioned so far is for the current financial year ending March 31 and there will be no shortage of further funds for this purpose, they added. While a government-backed panel predicts that India is past the peak of infections and may contain the spread by February, the nation has taken a massive blow to economic growth and Modi has been reopening the economy. Starting this weekend, Indians will be celebrating several festivals that could lead to a sharp jump in daily virus infections. Pm Narendra Modi on Tuesday said his government will ensure all Indians have access to a Covid-19 vaccine as soon it is ready.

MARKET UPDATE:Sensex fell 116 points to 40,590 levels and Nifty hovered around 11,900-mark

MARKET UPDATE:Sensex fell 116 points to 40,590 levels and Nifty hovered around 11,900-mark

Thursday, October 22, 2020

The benchmark indices in India were trading with marginal cuts today(22nd October 2020), on the back of weak global cues. Among the headline indices, the S&P BSE Sensex fell 116 points to 40,590 levels and the Nifty50 index hovered around 11,900-mark. ICICI Bank, PowerGrid, and Asian Paints (all down 1%) were the top Sensex laggards. On the other hand, Bajaj Finserv gained 2 percent after the announcement of its September quarter results. Meanwhile, Vedanta rose 5 percent after announcing that the company's board of directors will meet on October 24 to consider interim dividend. The Nifty sectoral indices were largely in the red, with the Nifty Pharma index, down 1 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.2 percent higher, each. Forty-eight companies including Asian Paints, Bajaj Auto, Bharti Infratel, and SBI Cards are set to announce their quarterly earnings today. Read more

MARKET UPDATE:Sensex hovered around 40,530 levels,up 100 points and Nifty reclaimed the 11,900 level

MARKET UPDATE:Sensex hovered around 40,530 levels,up 100 points and Nifty reclaimed the 11,900 level

Tuesday, October 20, 2020

The markets in India were up marginally today(20th October 2020) in a volatile session, amid weak global cues. The S&P BSE Sensex hovered around 40,530 levels, up 100 points and the Nifty50 reclaimed the 11,900 level. HCL Tech (up 2%), TCS, and Tech Mahindra (both up 1%) were the top Sensex gainers. On the other hand, Axis Bank, Kotak Mahindra Bank, State Bank of India, and ICICI Bank (all down 1%) were the top Sensex drags. Meanwhile, Britannia Industries slipped over 4 percent despite posting a healthy 23 percent increase in net profit for the September quarter at Rs 495 crore as compared to the corresponding quarter a year ago. The Nifty sectoral indices were trading mixed, with the Nifty PSU Bank index, down 1 percent. In the broader market, the S&P BSE MidCap index was flat while the SmallCap index gained 0.2 percent. Read more

MARKET UPDATE:Sensex up by 350 points to 40,330 levels and Nifty topped the 11,850-mark

MARKET UPDATE:Sensex up by 350 points to 40,330 levels and Nifty topped the 11,850-mark

Monday, October 19, 2020

The Indian equity markets started today (19th October 2020) on a strong footing, with the benchmark indices rising nearly one percent, amid positive cues from Asian indices. Among headline indices, the S&P BSE Sensex gained 350 points, or 0.88 percent, to 40,330 levels and the Nifty50 index topped the 11,850-mark. HDFC Bank rose as much as 3 percent after reporting a healthy set of September quarter results. Besides, ONGC (up 4%), ICICI Bank, and HDFC (both up 2%) were the other top Sensex gainers. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Financial Service index, up 1.3 percent In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.4 and 0.5 percent higher, each. Twenty-one companies including ACC, Britannia Industries, and HDFC Life are set to report their quarterly earnings today.

Christopher Wood hiked allocation to Indian equities in his Asia Pacific relative-return portfolio

Christopher Wood hiked allocation to Indian equities in his Asia Pacific relative-return portfolio

Friday, October 16, 2020

Christopher Wood, global head (equity strategy) at Jefferies in his latest note to investors, said that he has hiked allocation to Indian equities in his Asia Pacific ex-Japan relative-return portfolio by one percentage point and added two percentage points to the existing investment in HDFC in the Asia ex-Japan long-only portfolio. At 2x 12-month forward adjusted book, compared with a five-year average forward price-to-book ratio (P/BV) of 2.6x, Wood feels HDFC’s valuation remains attractive. Among Indian stocks, besides HDFC, Wood also holds Reliance Industries (RIL), Maruti Suzuki, SBI Life Insurance, ICICI Lombard General Insurance, DLF, and Cipla in his Asia ex-Japan thematic equity portfolio for long-only absolute-return investors. Read more

MARKET UPDATE:Sensex rose 350 points to 40,080 levels and Nifty reclaimed the 11,750-mark

MARKET UPDATE:Sensex rose 350 points to 40,080 levels and Nifty reclaimed the 11,750-mark

Friday, October 16, 2020

Markets in India were steady and trading nearly a percent higher today morning(16th October 2020). Among headline indices, the S&P BSE Sensex rose 350 points, or 0.9 percent, to 40,080 levels and the Nifty50 index reclaimed the 11,750-mark. IndusInd Bank and Infosys (up 2% each) were the top Sensex gainers, followed by Tata Steel and HDFC Bank (both up 1%). Meanwhile, HCL Tech slipped over 4 percent after the announcement of its September quarter results. All the Nifty sectoral indices were trading in the green, led by Nifty IT and Nifty Bank indexes, both up 1 percent, each. In the broader market, the S&P BSE MidCap and SmallCap indices were both up half a percent, each. Six companies, including Bajaj Consumer Care, and Federal Bank are scheduled to announce their quarterly earnings today.

MARKET UPDATE:Sensex down 90 points around 40,700 levels and Nifty hovered around 11,950

MARKET UPDATE:Sensex down 90 points around 40,700 levels and Nifty hovered around 11,950

Thursday, October 15, 2020

The benchmark indices in India were trading lower today(15th October 2020) after quickly giving up the opening gains. The S&P BSE Sensex was trading around 40,700 levels, down 90 points, and the Nifty50 hovered around 11,950. Infosys gained 4 percent after delivering a healthy set of numbers in the second quarter of FY21. Besides, Tata Steel (up 2%), ONGC, and NTPC (both up 1%) were the other top Sensex gainers. The trend among the Nifty sectoral indices was mixed, with the Nifty Bank index, down 0.7 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indices were both up 0.2 percent, each. Oil and gas pipeline infrastructure service provider Likhitha Infrastructure will list its shares on bourses today, with the final issue price fixed at Rs 120 per share. Overall, the issue was subscribed to 9.51 times, and analysts expect the issue to see a muted listing. Read more

Indian economy to bounce back with 8.8% growth in 2021 after contracting by 10.3% in 2020

Indian economy to bounce back with 8.8% growth in 2021 after contracting by 10.3% in 2020

Wednesday, October 14, 2020

The International Monetary Fund (IMF) yesterday (13th October 2020) slashed the growth forecast for India saying that the country’s economy will contract 10.3% in FY21, the third steepest decline after Spain and Italy, and the sharpest fall among emerging markets and developing countries. This is the second downgrade for India by IMF after it reversed its forecast of 1.9% growth in April to a 4.5% contraction in June for 2020-21. The economies of Spain and Italy are seen shrinking by 12.8% and 10.6%, respectively. IMF’s forecast for the Indian economy is gloomier than the Reserve Bank of India’s projection of a 9.5% contraction in the real gross domestic product (GDP) in the full fiscal. The economy shrank an unprecedented 23.9% in the June quarter. Last week, the World Bank said the situation in India is worse than ever, forecasting the country’s economy will shrink 9.6% in FY21, much steeper than the 3.2% fall estimated by IMF in June. Read more

MARKET UPDATE:Sensex dipped 100 points to 40,520 levels and the Nifty hovered around 11,900 levels

MARKET UPDATE:Sensex dipped 100 points to 40,520 levels and the Nifty hovered around 11,900 levels

Wednesday, October 14, 2020

The markets in India were trading with slight cuts on today(14th October 2020), in line with the trend in Asian indices, ahead of the Supreme Court hearing on a batch of petitions seeking a waiver of interest on loans during the moratorium period. Among the headline indices, the S&P BSE Sensex dipped 100 points to 40,520 levels and the Nifty50 index hovered around 11,900 levels. ONGC, PowerGrid, NTPC, and IndusInd Bank (all down 1 percent) were the top Sensex laggards. On the other hand, Tata Steel gained 1 percent. Wipro slipped 5 percent despite improving its performance in the second quarter of FY21 on several parameters. Karnataka Bank, on the other hand, rose 5 percent after announcing its September quarter results. Sixteen companies including Infosys, Tata Elxsi, and Den Networks are scheduled to declare their September quarter earnings today. Infosys is expected to report a strong set of numbers for the quarter, mainly led by the ramp-up of large deal wins.

MARKET UPDATE:Sensex down 30 points around 40,550 levels and Nifty hovered around 11,900-mark

MARKET UPDATE:Sensex down 30 points around 40,550 levels and Nifty hovered around 11,900-mark

Tuesday, October 13, 2020

The markets in India were trading flat with a negative bias today(13th October 2020) ahead of the Supreme Court's hearing on a batch of petitions seeking a waiver of interest on loans during the moratorium period. Among headline indices, the S&P BSE Sensex was trading around 40,550 levels, down 30 points, and the Nifty50 index hovered around 11,900-mark. ICICI Bank, IndusInd Bank, and Axis Bank (all down 1%) were the top Sensex laggards. On the other hand, Bharti Airtel gained 2 percent after Trai's released the subscription data for July. Ultratech Cement and Tata Steel were also up 1 percent each. The trend among Nifty sectoral indices was mixed, with the Nifty Private Bank index, down 0.9 percent, leading the list of losers. Read more

MARKET UPDATE:Sensex gained 300 points to 40,860 levels, and the Nifty reclaimed the level of 12,000

MARKET UPDATE:Sensex gained 300 points to 40,860 levels, and the Nifty reclaimed the level of 12,000

Monday, October 12, 2020

The markets in India rose nearly one percent today(12th October 2020), ahead of the press conference of Finance Minister Nirmala Sitharaman on economic issues at 12:30 pm today. Among headline indices, the S&P BSE Sensex gained 300 points to 40,860 levels, and the Nifty50 index reclaimed the psychological level of 12,000 for the first time since February 24, 2020. Axis Bank, State Bank of India, ITC, and HDFC (all up 2%) were the top Sensex gainers. On the other hand, shares of Vedanta hit 10 percent lower circuit after the company failed to receive the required number of shares to delist Vedanta Limited. The trend among Nifty sectoral indices was mixed, with the Nifty Bank index, up 1 percent, leading the list of gainers. The broader market continued to underperform, with the S&P BSE MidCap and SmallCap indexes trading 0.3 percent higher, each. Read more

MARKET UPDATE:Sensex dipped 50 points to 40,140 levels and the hovered around 11,850-mark

MARKET UPDATE:Sensex dipped 50 points to 40,140 levels and the hovered around 11,850-mark

Friday, October 9, 2020

In Indian markets, the benchmark indices fluctuated between gains and losses today(9th Oct.2020) as RBI Governor Shaktikanta Das began the monetary policy address. The S&P BSE Sensex dipped 50 points to 40,140 levels after earlier rising to 40,320 levels. The Nifty50 index, meanwhile, hovered around 11,850-mark. Tata Steel (up 2%), Bharti Airtel, Larsen & Toubro, and Mahindra & Mahindra (all up 1%) were the top Sensex gainers. On the other hand, TCS and Reliance Industries slipped 0.7 percent, each. Besides, Lakshmi Vilas Bank surged 15 percent after the bank received an indicative non-binding offer from the Clix Group. The Nifty sectoral indices were trading largely in the green, led by the Nifty Metal index, up 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indices were trading 0.3 percent, each. Five companies including Rashtriya Chemicals & Fertilizers, and Steel Strips Wheels are scheduled to announce their quarterly earnings today.

MARKET UPDATE:Sensex up 400 points to 40,300 levels and the Nifty testing the 11,850-mark

MARKET UPDATE:Sensex up 400 points to 40,300 levels and the Nifty testing the 11,850-mark

Thursday, October 8, 2020

The markets in India started today's(8th October 2020) session on a strong footing, up 1 per cent, with major contribution from IT stocks. The S&P BSE Sensex was up 400 points to 40,300 levels and the Nifty50 index was testing the 11,850-mark. TCS gained 4 per cent after exceeding analysts' expectations on all fronts in its September quarter earnings. Wipro was also up 4 per cent after announcing that it will consider share buyback programme. Besides, Infosys and Tech Mahindra also gained 3 per cent and 2 per cent each, respectively. All the Nifty sectoral indices were trading in the green, led by Nifty IT index, up 3 per cent. In the broader market, the S&P BSE MidCap and SmallCap index were both trading half a per cent higher. seven companies including 5paisa Capital, GM Breweries, and Prabhat Dairy are scheduled to announce their September quarter earnings today.

Centre approves 16 proposals to fetch Rs 11,000-crore additional investments in electronics manufacturing

Centre approves 16 proposals to fetch Rs 11,000-crore additional investments in electronics manufacturing

Wednesday, October 7, 2020

The Centre yesterday(6thOct.2020) approved 16 proposals from marquee brands, including makers of Apple devices, under two new flagship schemes, in a move expected to fetch Rs 11,000-crore additional investments in local electronics manufacturing. In turn, this would imply production worth Rs 10.5 trillion over the next five years, giving a fillip to Prime Minister Narendra Modi’s Make in India and Atma Nirbhar Bharat schemes. A statement issued by the Ministry of Electronics and Information Technology said that of the total, Rs 6.5 trillion worth of electronic goods will be exported by 2025 under the Production Linked Incentive (PLI) plan. Read more

MARKET UPDATE:Sensex dipped 80 points at 39,500 levels and the Nifty hovered below the 11,650-mark

MARKET UPDATE:Sensex dipped 80 points at 39,500 levels and the Nifty hovered below the 11,650-mark

Wednesday, October 7, 2020

The markets in India opened flat with a negative bias today(7th October 2020), amid mixed cues from other Asian markets. Among the headline indices, the S&P BSE Sensex dipped 80 points at 39,500 levels and the Nifty50 index hovered below the 11,650-mark. Bajaj Finance dipped 3 percent and was the top Sensex drag after it gave a business update for the quarter ended September 2020. Besides, IndusInd Bank and Bajaj Finserv also slipped 2 percent each. On the other hand, Reliance Industries gained 1 percent after announcing that the Abu Dhabi Investment Authority would invest Rs 5,512 crore into Reliance Retail Ventures for a 1.2-per cent stake. TCS was also trading 1 percent higher ahead of its September quarter results announcement. The trend among Nifty sectoral indices was largely negative, led by the Nifty Private Bank index, down 1 percent. Read more

MARKET UPDATE:Sensex gained 300 points to 39,270 levels and the Nifty reclaimed the 11,600 mark

MARKET UPDATE:Sensex gained 300 points to 39,270 levels and the Nifty reclaimed the 11,600 mark

Tuesday, October 6, 2020

Markets in India rose over half a percent in today's(6th October 2020) early deals, on firm global cues. The S&P BSE Sensex gained 300 points to 39,270 levels and the Nifty50 index reclaimed the 11,600 marks. HDFC and IndusInd Bank gained 5 percent and 3 percent, respectively, after posting business updates. Meanwhile, Tata Motors also ticked up 3 percent as Jaguar Land Rover reported a 50 percent growth in September quarter sales at 1.13 lakh vehicles on a sequential basis. Britannia Industries gained 1 percent after its board has approved a bonus debenture issue and dividend. The trend among Nifty sectoral indices was largely positive, led by the Nifty Bank index, up 1.5 percent. In the broader market, the S&P MidCap and SmallCap indexes were trading 0.7 percent and 0.6 percent higher, respectively.

TCS becomes second Indian firm with Rs.10 lakh crore market cap after Reliance

TCS becomes second Indian firm with Rs.10 lakh crore market cap after Reliance

Monday, October 5, 2020

Tata Consultancy Services on Monday became the only second listed Indian firm after Reliance to reach the Rs 10 lakh crore market capitalization. Shares of Tata Consultancy Services rallied 7 per cent to Rs 2,706 on the BSE in the early morning trade on Monday after the company said it will consider a buyback on Wednesday, October 7, 2020. ICICI Securities believes that TCS has the potential to do a buyback of Rs 20,000 crore, which is around 2 per cent of its market capitalisation. Following the rally in its share price, the company’s market valuation jumped to Rs 10.16 lakh before the trade close.TCS is the second most-valuable domestic firm in terms of market capitalisation. Meanwhile, Reliance Industries Limited is the first Indian film to have crossed the Rs 10 lakh crore market valuation mark. Its market valuation is currently at Rs 15,02,355.71 crore – the highest for any listed company in the country. Read more

MARKET UPDATE:Sensex gained 400 points to 39,140 levels and the Nifty topped the 11,500-mark

MARKET UPDATE:Sensex gained 400 points to 39,140 levels and the Nifty topped the 11,500-mark

Monday, October 5, 2020

The markets in India were trading firm, in line with Asian indices, today(5th Oct.2020) on reports that US President Donald Trump could return to the White House today after responding well to Covid-19 treatment. Among headline indices, the S&P BSE Sensex gained 400 points, 1 percent, to 39,140 levels and the Nifty50 index topped the 11,500-mark. TCS and IndusInd Bank (up 5%) were the top Sensex gainers. The trend among Nifty sectoral indices was positive, led by the Nifty IT index, up 1.7 percent. Meanwhile, the volatility index, India VIX, shot up 6 percent. Meanwhile, in the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. One of the largest retail broking houses, Angel Broking, will debut at the bourses today. The issue price is fixed at Rs 306 per share, the higher end of the price band. The IPO was oversubscribed nearly four times.

Covid-19 crisis:Unlock 5.0 has been set in motion in India

Covid-19 crisis:Unlock 5.0 has been set in motion in India

Thursday, October 1, 2020

In India unlock 5.0 has been set in motion from today(1st Oct.2020). The new set of guidelines aims to further open up economic activities. Last month the MHA allowed metro rails to resume, allowed functions and gatherings of up to 100 people, allowed bars and pubs to open and removed all interstate and intrastate movement restrictions. However, education institutions were told to remain closed, cinemas and entertainment parks were kept shut, and international travel too, except as permitted by the MHA, remained suspended. What are the major changes expected in unlock:5? Read more

MARKET UPDATE:Sensex rose 400 points to 38,500 levels, and the Nifty topped the 11,350-mark

MARKET UPDATE:Sensex rose 400 points to 38,500 levels, and the Nifty topped the 11,350-mark

Thursday, October 1, 2020

The markets in India shot up 1 percent today(1st October 2020), on the back of favourable global cues. Among headline indices, the S&P BSE Sensex rose 400 points to 38,500 levels, and the Nifty50 index topped the 11,350-mark. Bajaj Auto and IndusInd Bank (up 3%) were the top Sensex gainers, followed by Bajaj Finance, Axis Bank, and Bajaj Finserv (all up 2%). Reliance Industries gained 1 percent after the company announced that US private equity firm Silver Lake Partners will invest an additional Rs 1,875 crore in Reliance Retail. PVR and Inox Leisure zoomed 15 and 17 percent, respectively, after the central government allowed the reopening of cinema halls, theatres, and multiplexes with effect from October 15 with a maximum of 50 percent capacity. Besides, ONGC and Oil India dipped 3 percent each after the government cut natural gas prices cut by 25 percent. Read more

India records current account surplus of $19.8 bn in Q1-2020-21

India records current account surplus of $19.8 bn in Q1-2020-21

Thursday, October 1, 2020

The current account balance (CAB) of India recorded a surplus of $19.8 billion (3.9 percent of GDP) in Q1 of 2020-21. This contrasts with a deficit of $ 15 billion (2.1 percent of GDP) in April-June 2019 (Q1Fy20). The surplus in April-June 2020 (Q1Fy21) comes on top of a surplus of $0.6 billion (0.1 percent of GDP) in the preceding quarter (Q4 Fy20), said the Reserve Bank of India in a statement. The surplus was due to a sharp contraction in the trade deficit to $10 billion, as the country’s merchandise imports declined sharply relative to exports on a year-on-year basis. Net services receipts remained stable, primarily on the back of earnings from computer services. Private transfer receipts, comprising broadly remittances by Indians working overseas, amounted to $ 18.2 billion--a decline of 8.7 percent from their level a year ago.

Serum Institute to make 200 mn Covid vaccines in 2021

Serum Institute to make 200 mn Covid vaccines in 2021

Tuesday, September 29, 2020

India registered 70,589 new Covid-19 cases, taking the total caseload to 6,145,291. The death toll now stands at 96,351. The Union Health Ministry has launched a web portal that will provide all important information on coronavirus, vaccine development, ongoing clinical trials, and progress made in this area locally and globally. The "vaccine web portal" and the ''National Clinical Registry for Covid-19'' have been developed by ICMR. The Ministry of Health and Family Welfare yesterday (28th Sept.2020) said that the first vaccine in India will most likely be available by early 2021. The WHO and its leading partners have agreed to roll out 120 million rapid-diagnostic tests for the coronavirus to help lower- and middle-income countries make up ground in a testing gap with richer countries - even if it's not fully funded yet. Read more

MARKET UPDATE:Sensex 90 points higher at 38,069 levels and the Nifty hovering around 11,250-mark

MARKET UPDATE:Sensex 90 points higher at 38,069 levels and the Nifty hovering around 11,250-mark

Tuesday, September 29, 2020

The markets in India were trading flat with a positive bias today(29th Sept.2020), on the back of firm cues from the main Wall Street indices. The S&P BSE Sensex was trading nearly 90 points higher at 38,069 levels and the Nifty50 index was hovering around the 11,250-mark. TCS, Asian Paints, Maruti Suzuki, and Bajaj Auto (all up 1%) were the top Sensex gainers. On the other hand, Powergrid dipped 1 percent in early deals. In the broader market, the S&P BSE MidCap index was trading at 14,738.75, up 0.12 percent while the S&P BSE SmallCap was trading at 14,860, down 0.02 percent.

MARKET UPDATE:Sensex rose 350 points to 37,740 levels and Nifty topped the 11,100-mark

MARKET UPDATE:Sensex rose 350 points to 37,740 levels and Nifty topped the 11,100-mark

Monday, September 28, 2020

The equity markets in India gained nearly one per cent today(28th Sept.2020), tracking positive cues from other Asian markets, ahead of the Supreme Court hearing in the loan moratorium and interest waiver case. Among headline indices, the S&P BSE Sensex rose 350 points to 37,740 levels and the Nifty50 index topped the 11,100-mark. ONGC (up 4%) was the top Sensex gainer, followed by Bajaj Finance (up 3%), NTPC, Axis Bank, and Larsen & Toubro (all up 2%). Meanwhile, Lakshmi Vilas Bank slipped 5 percent after a large section of the bank's shareholders voted against the reappointment of the managing director and chief executive, as well as seven directors and auditors, at the recent AGM. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 1.8 percent. The broader indices, meanwhile, outperformed the benchmark indices, with the S&P BSE MidCap and SmallCap indexes trading over 1 per cent higher, each.

COVID-19: India's active cases see net reduction

COVID-19: India's active cases see net reduction

Sunday, September 27, 2020

India reported a net reduction in its count of active coronavirus cases on Saturday,26th Sept.2020. In the seventh daily reduction in eight days, the country’s active cases came down by 9,147 to 960,969. A jump of 93,420 in the number of cured cases, meanwhile, pushed recoveries in the country to 4,849,584, or 82.14 percent all infections reported so far. While a single-day increase of 85,362 in total cases took India’s overall tally to 5,903,932, its death toll reached 93,379 with 1,089 fatalities being reported in 24 hours. The second-most-affected country by active and total cases, and third by a fatality, India has added 595,918 in the past seven days. following are the salient points of the coronavirus data released by the MoHFW on Saturday (September 26, 2020): Read more

Advanced Enzyme stock gains 33% in 2 days as Nalanda India picks up stake

Advanced Enzyme stock gains 33% in 2 days as Nalanda India picks up stake

Friday, September 25, 2020

Shares of agricultural products company Advanced Enzyme Technologies rallied 13 per cent to Rs 317 on the National Stock Exchange (NSE) in the early morning trade on Friday touching new 52 weeks high and surging over 33 per cent in the last 2 days, after foreign portfolio investor (FPI) bought nearly 4 per cent stake in the company via the open market. Nalanda India Equity Fund has bought 41,90,491 equity shares in Advanced Enzyme Technologies (representing 3.75 per cent of the total paid-up equity) for Rs 111 crore, at Rs 263.8 per share. Advanced Vital Enzymes Private Limited sold 3 million equity shares at a price of Rs 265 per share on the NSE. Advanced Enzyme Technologies in annual report 2019-20 said it may benefit from an increase in healthcare spending in the US and India. The US has the highest health spending in the world and it is drastically moving towards the usage of human healthcare enzymes and Probiotics. Read more

India’s economy showed signs of stabilising

India’s economy showed signs of stabilising

Friday, September 25, 2020

In August India’s economy showed signs of stabilising with manufacturing and services gradually improving even as coronavirus cases escalated across the country. Five of the eight high-frequency indicators compiled by Bloomberg News gained last month, while two were unchanged and one deteriorated. That kept the needle on a dial measuring so-called animal spirits steady at 4 -- a level arrived at by using the three-month weighted average to smooth out volatility in the single-month readings. A strong rebound is still a far way off though as a surge in virus cases continues to disrupt activity and has led many economists to downgrade their growth forecasts for the year. Read more

MARKET UPDATE:Sensex rose 350 points to 36,910 levels, and the Nifty topped the 10,900-mark

MARKET UPDATE:Sensex rose 350 points to 36,910 levels, and the Nifty topped the 10,900-mark

Friday, September 25, 2020

In Indian markets, benchmark indices gained 1 percent in today's(25th Sept.2020) opening deals, following similar trends in Asian indices. The S&P BSE Sensex rose 350 points to 36,910 levels, and the Nifty50 index topped the 10,900-mark. IndusInd Bank, Mahindra & Mahindra, Bajaj Finance, and TCS (all up 2%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 2 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were also trading 1 percent higher, each.

MARKET UPDATE:Sensex dipped 570 points to 37,090 levels and the Nifty slipped below 11,000 level

MARKET UPDATE:Sensex dipped 570 points to 37,090 levels and the Nifty slipped below 11,000 level

Thursday, September 24, 2020

The Indian markets started the expiry day of September(24th Sept.2020), derivative series on a feeble note, plunging over one percent, on the back of subdued global cues. The S&P BSE Sensex dipped 570 points to 37,090 levels and the Nifty50 index slipped below the psychological level of 11,000. Mahindra & Mahindra, Bajaj Finance, Infosys, Tata Steel, and IndusInd Bank, all slipped over 2 percent and were the top Sensex laggards. All the Nifty sectoral indices were painted red, with Nifty IT and Nifty Metal indexes, down 2 percent each, taking the biggest hit. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 1.75 percent and 1.9 percent lower, respectively.

MARKET UPDATE:Sensex up 340 points at 38,080 levels and the Nity testing the 11,250-mark

MARKET UPDATE:Sensex up 340 points at 38,080 levels and the Nity testing the 11,250-mark

Wednesday, September 23, 2020

Equity markets in India rose half a percent today(23rd Asept.2020), tracking the overnight gains on the major Wall Street indices. The S&P BSE Sensex was up 340 points at 38,080 levels and the Nity50 index was testing the 11,250-mark. Reliance Industries gained 2 percent after the company announced that KKR will invest Rs 5,500 crore for a 1.28 percent stake in Reliance Retail. The stock was the top Sensex gainer, followed by Infosys, Maruti, and IndusInd Bank (all up 1%). All the Nifty sectoral indices, barring the Nifty Metal index, were trading in the green, led by the Nifty Private Bank index, up 0.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.7 percent and 1.2 percent higher, respectively.

MARKET UPDATE:Sensex dipped 200 points to 37,820 levels and the Nifty fell below the 11,200-mark

MARKET UPDATE:Sensex dipped 200 points to 37,820 levels and the Nifty fell below the 11,200-mark

Tuesday, September 22, 2020

The markets in India headed lower after a flat start today(22nd Sept.2020), in tune with subdued global cues. The S&P BSE Sensex dipped 200 points to 37,820 levels and the Nifty50 index fell below the 11,200-mark. Bajaj Finance, Bajaj Finserv, ONGC, and Tata Steel, all slipped over 2 percent and were the top Sensex laggards. On the other hand, IT stocks HCL Tech, Tech Mahindra, and TCS rose 1 percent each. Shares of GMM Pfaudler tanked 10 percent on the BSE after the company said its promoters planned to sell up to 28 percent stake worth up to Rs 1,433 crore in the company via offer for sale. The trend among Nifty sectoral indices was mixed, with the Nifty Metal index, down 1 percent, leading the list of losers. Meanwhile, the broader markets underperformed their benchmark peers with the S&P BSE MidCap and SmallCap index dipping over 1 percent and 2 percent, respectively.

MARKET UPDATE:Sensex hovered around 38,850 and Nifty holding the 11,500-level

MARKET UPDATE:Sensex hovered around 38,850 and Nifty holding the 11,500-level

Monday, September 21, 2020

The Indian benchmark indices were started the expiry week of the September series derivative contracts on a flat note, tracking similar trends from the other Asian markets today(21st Sept.2020) The S&P BSE Sensex hovered around 38,850 and the Nifty50 index was holding the 11,500-level. Tech stocks were the top gainers in the Sensex pack, led by HCL Tech (up 4%). TCS, Tech Mahindra, and Infosys were also up 1 percent each. The trend among the Nifty sectoral indices were largely negative, led by the Nifty PSU Bank index, down half a percent. On the other hand, the Nifty Pharma index was trading 1 percent higher. In the broader market, the S&P BSE MidCap index was trading flat while the SmallCap index was up 0.5 percent. Route Mobile will debut at the bourses today after the finalisation of the issue price at Rs 350 per share. The issue was subscribed over 73 times and is expected to list at a premium of 50-60 percent.

MARKET UPDATE:Sensex dipped 184 points to 39,120 levels and the Nifty fell below the 11,600-mark

MARKET UPDATE:Sensex dipped 184 points to 39,120 levels and the Nifty fell below the 11,600-mark

Thursday, September 17, 2020

The equity markets in India slipped half a percent today(17th Sept.2020) in tune with the losses in other Asian markets. The S&P BSE Sensex dipped 184 points to 39,120 levels and the Nifty50 index fell below the 11,600-mark. ICICI Bank, TCS, and IndusInd Bank were all trading 1 percent lower in early deals. On the other hand, ONGC was up 1 percent. The trend among Nifty sectoral indices was largely negative, led by the Nifty Bank index, down 1 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading flat. IT services firm Happiest Minds Technologies will make stock market debut today. The Rs 702-crore initial public offering of Happiest Minds Technologies garnered massive responses from investors as it was subscribed to a whopping 151 times.

MARKET UPDATE:Indices flat;Sensex at 39,090 levels, and Nifty at 11,500-mark

MARKET UPDATE:Indices flat;Sensex at 39,090 levels, and Nifty at 11,500-mark

Wednesday, September 16, 2020

The equity markets in India today (16th Sept.2020) were trading flat with a positive bias, tracking mixed cues from other Asian markets. The S&P BSE Sensex added 50 points at 39,090 levels and the Nifty50 index topped the 11,500-mark. Mahindra & Mahindra, Larsen & Toubro, and Bajaj Auto (all up 3%) were the top Sensex gainers. On the other hand, State Bank of India and Axis Bank were trading half a percent lower. Aurobindo Pharma rose 4 percent in early deals after the company announced its collaboration with the Council of Scientific and Industrial Research to develop vaccines to protect against Covid-19. The trend among Nifty sectoral indices was largely positive, led by the Nifty Auto index, up 0.7 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.4 percent higher, each.

MARKET UPDATE:Sensex hovered around 38,820 levels, and Nifty at 11,450-mark

MARKET UPDATE:Sensex hovered around 38,820 levels, and Nifty at 11,450-mark

Tuesday, September 15, 2020

The equity markets in India climbed off the day's top to trade flat with a positive bias today(15th Sept.2020). The S&P BSE Sensex hovered around 38,820 levels, after rising as high as 39,013 levels intra-day. The Nifty50 index was, meanwhile, holding the 11,450-mark. Sun Pharma and Bajaj Finance (both up 2%) were the top Sensex gainers, followed by NTPC, ICICI Bank, and Tata Steel (all up 1%). The trend among Nifty sectoral indices was positive, led by the Nifty Pharma index, up 2 percent. The broader market, meanwhile, continued to outperform the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.8 percent and 1 percent higher, respectively. Six hundred and forty-two companies including Vedanta, SpiceJet, and Future Enterprises are scheduled to announce their earnings today.

MARKET UPDATE:Sensex up by 335 points at 39,190 levels and Nifty reclaimed the 11,550-mark

MARKET UPDATE:Sensex up by 335 points at 39,190 levels and Nifty reclaimed the 11,550-mark

Monday, September 14, 2020

The equity markets in India were trading firm today(14th Sept.2020), with the Sensex and Nifty gaining over half a percent. Meanwhile, the broader indices outperformed their benchmark peers after the Sebi tweaked rules for multi-cap mutual funds. According to the new norms, multi-cap funds must hold at least 75 percent of their assets in equities with 25 percent each in large, medium, and smaller companies. Consequently, the S&P BSE MidCap index rose 1.18 percent while the S&P BSE SmallCap was up 2 percent. Among the headline indices, the S&P BSE was up 335 points at 39,190 levels and the Nifty50 index reclaimed the 11,550-mark. HCL Tech (4 percent) gained the most after the company raised its guidance. Besides, Reliance Industries (up 1 percent) hit a fresh all-time high. The HDFC twins and IndusInd Bank were also trading 1 percent higher. The Nifty sectoral indices were all trading in the green, led by Nifty IT and Nifty Private Bank indexes, both up 1 percent. Read more

India, China agree on 5-point plan to resolve standoff

India, China agree on 5-point plan to resolve standoff

Friday, September 11, 2020

The Indian Army and the Chinese People's Liberation Army(PLA) have been locked in a tense standoff in multiple areas along the Line of Actual Control(LAC) in eastern Ladakh since early May. The two countries agreed to a five-point plan for resolving the prolonged border face-off in eastern Ladakh that included abiding by all existing agreements and protocol on management of the frontier, maintaining peace and tranquility, and avoiding any action that could escalate matters. The plan was finalised during the talks between External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi in Moscow on Thursday evening on the sidelines of a Shanghai Cooperation Organisation (SCO) meet. Read more

MARKET UPDATE:Volatile session-Sensex hovered around 38,760 points and the Nifty gave up the 11,450-mark

MARKET UPDATE:Volatile session-Sensex hovered around 38,760 points and the Nifty gave up the 11,450-mark

Friday, September 11, 2020

In Indian equity markets, the benchmark indices slipped into the red zone after giving up their modest opening gains in today's(11th Sept.2020) volatile session. The S&P BSE Sensex hovered around 38,760 points after falling around 150 points from the opening highs. The Nifty50 index also gave up the 11,450-mark. Titan, HDFC Bank, Kotak Mahindra Bank, and State Bank of India (all up 1%) were the top Sensex gainers. On the other hand, Reliance Industries slipped 0.9 percent after the company called the reports about Amazon's interest in Reliance Retail 'speculative'. The Nifty sectoral indices were trading largely in the green, led by the Nifty PSU Bank index, up 0.9 percent. In the broader market, both the S&P BSE MidCap and SmallCap indexes were trading half a percent higher. One hundred and four companies including IRCTC, BHEL, and Adani Green are scheduled to announce their quarterly earnings today.

Relief on NPAs extended after govt tells interest issue being looked into

Relief on NPAs extended after govt tells interest issue being looked into

Thursday, September 10, 2020

Today(10th Sept.2020)The Supreme Court of India extended its interim order that no account is to be declared NPA till further orders after the Centre said an expert panel has been set up to look into the issue of interest being charged by banks on instalments deferred during the moratorium period due to the COVID-19 pandemic. The top court was hearing a batch of pleas which have raised the issue of interest being charged on instalments which were deferred during the moratorium period due to the COVID-19 pandemic. The top court granted two weeks to the Centre and Reserve Bank of India (RBI) to file the affidavit and place before it the decisions taken in this regard. Read more

MARKET UPDATE:Sensex gained 440 points to 38,630 levels and the Nifty testing the 11,400-mark

MARKET UPDATE:Sensex gained 440 points to 38,630 levels and the Nifty testing the 11,400-mark

Thursday, September 10, 2020

The Indian benchmark indices added to their opening gains and were trading over 1 percent higher in today's(10th Sept.2020) late morning session. The S&P BSE Sensex gained 440 points to 38,630 levels and the Nifty50 index was testing the 11,400-mark. IndusInd Bank (up 3%) was the top Sensex gainer. Meanwhile, Reliance Industries scaled a new lifetime high after gaining 2 percent amid reports that marquee investors including KKR, Abu Dhabi Investment Authority, and Saudi Arabia’s Public Investment Fund (PIF) could be in line to pick stakes in the company's retail-arm Reliance Retail Ltd. All the Nifty sectoral indices were trading in the green, led by Nifty PSU Bank index, up 1.9 percent. In the broader markets, the S&P BSE MidCap and SmallCap indexes were trading 1 percent and 1.7 percent higher, respectively. Seventy-four companies including Hindustan Aeronautics and J&K Bank are scheduled to announce their June quarter results today.

MARKET UPDATE:Sensex slid 300 points to 38,060 levels and the Nifty gave up the 11,250-mark

MARKET UPDATE:Sensex slid 300 points to 38,060 levels and the Nifty gave up the 11,250-mark

Wednesday, September 9, 2020

Indian equity markets were dragged by over half a percent lower today(9th ASept.2020) mainly due to weak global cues, concerns over India-China tensions, and unwelcome news on the COVID front. The S&P BSE Sensex slid 300 points to 38,060 levels and the Nifty50 index gave up the 11,250-mark. ONGC and Tata Steel (both down 3 percent) were the top Sensex laggards. On the other hand, Reliance Industries rose 1 percent after announcing that Silver Lake would invest Rs 7,500 crore in Reliance Retail. Meanwhile, AstraZeneca Pharma tumbled 12 percent after the company "voluntarily paused" a randomized clinical trial of its coronavirus vaccine in what it called a routine action after a volunteer developed an unexplained illness. IRCTC shares also slid 4 percent in early deals after the company said the government plans to sell about 15-20 percent stake via offer for sale (OFS) and would like to complete the transaction in a minimum number of tranches. Read more

India-China standoff: Firing takes place on LAC in eastern Ladakh sector

India-China standoff: Firing takes place on LAC in eastern Ladakh sector

Tuesday, September 8, 2020

An incident of firing took place on the LAC in the Eastern Ladakh sector where troops of India and China have been engaged in a stand-off for over three months, according to sources, today(8th Sept.2020). India recently outflanked China by taking control of strategic height near Pangong lake's southern bank. It thwarted an attempt by the Chinese army to transgress into Indian areas near the southern bank of Pangong Tso near Chushul in Ladakh. India and China are engaged in a standoff since April-May over the transgressions by the Chinese Army in multiple areas including the Finger area, Galwan valley, Hot springs, and Kongrung Nala. The situation worsened after 20 Indian soldiers were killed in violent clashes with Chinese troops in Galwan valley in June. The talks between the two sides have been going on for the last three months including five Lieutenant general-level talks but have failed to yield any results, so far.

MARKET UPDATE:Sensex hovered around 38,400 levels;Nifty around 11,350-mark

MARKET UPDATE:Sensex hovered around 38,400 levels;Nifty around 11,350-mark

Tuesday, September 8, 2020

The equity markets in India fluctuated between minor gains and losses today (7th sept.2020) despite firm cues from Asian indices as investors turned cautious on geopolitical concerns. According to reports, incidents of firing were reported overnight on the Line of Actual Control in Eastern Ladakh sector where troops of India and China have been engaged in a stand-off for over three months. The S&P BSE Sensex hovered around 38,400 levels, and the Nifty50 index was around the 11,350 mark. Powergrid (down 1%) was the top Sensex loser, followed by Nestle, Titan, and HDFC (all down over half a percent). Bharat Dynamics plunged 12 percent as the government is set to sell a 15 percent stake in the defense company through an offer for sale today and tomorrow at a floor price of Rs 330 per share. The trend among the Nifty sectoral indices was largely negative, with the Nifty PSU Bank index, down half a percent, leading the list of losers. Read more

MARKET UPDATE:Volatile session;Sensex down by 200 points around 38,150 levels;Nifty near 11,300-mark

MARKET UPDATE:Volatile session;Sensex down by 200 points around 38,150 levels;Nifty near 11,300-mark

Monday, September 7, 2020

The equity markets in India were trading lower in today's (7th sept.2020) volatile session, with financials and FMCG stocks pressuring the benchmark indices. The S&P BSE Sensex hovered around 38,150 levels, down 200 points, and the Nifty50 index was near the 11,300-mark. Titan, IndusInd Bank, and Maruti (all up 1%) were the top Sensex gainers. On the other hand, Mahindra & Mahindra dipped 2 percent. Vodafone Idea surged 10 percent ahead of the company's strategic announcement today. The Nifty sectoral indices were trading mixed, with the Nifty Bank index, down 0.5 percent, leading the list of losers. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. Fifty-two companies are expected to report their earnings including CG Power, General Insurance Corporation of India, and Parag Milk Foods.

MARKET UPDATE:Sensex tanks 450 pts, Nifty below 11,400

MARKET UPDATE:Sensex tanks 450 pts, Nifty below 11,400

Friday, September 4, 2020

The equity markets in India today(4th September 2020), in tune with the overnight plunge in the US markets, were trading over one percent lower amid across-the-board selling. The S&P BSE Sensex dipped 456 points, or 1.17 percent, to 38,560 levels and the Nifty50 index gave up the psychological level of 11,400. ICICI Bank, State Bank of India, and IndusInd Bank, all cracked 2 percent each and were the top Sensex losers. All 30 constituents of Sensex were trading in the red. All the Nifty sectoral indices were painted red, led by the Nifty Bank index which fell 2.5 percent. The broader markets mirrored the losses in the benchmarks, with both the S&P BSE MidCap and SmallCap indexes trading with nearly one and a half percent cut. Sixty-eight companies including Nalco, Future Retail, and Jubilant Life Sciences, are scheduled to announce their June quarter earnings today.

India's Q2- 2020 GDP growth most affected among G-20 countries

India's Q2- 2020 GDP growth most affected among G-20 countries

Thursday, September 3, 2020

IMF chief economist Gita Gopinath yesterday(2nd Sept.2020) tweeted a graph suggesting India's gross domestic product (GDP) may have shrunk the most among G-20 countries in the April-June quarter, at 25.6%, when compared with the previous quarter. In her tweet, accompanying the graph, Gopinath said, “In #GreatLockdown Q2 (June quarter) 2020 GDP growth at historical lows. The graph puts G20 growth numbers on a comparable scale, quarter-on-quarter non-annualised. Should expect rebounds in Q3 (September quarter) but 2020 overall will see major contractions. China recovers strongly in Q2 after a collapse in Q1 (March quarter)." The chart shows all countries except China registering GDP contraction. While China's economy is shown to have expanded by a robust 12.3 percent over the March quarter on a non-annualised basis, the UK is the most affected after India, with a GDP contraction of 20.4 percent. The US economy is shown to have shrunk 9.1 percent on a quarterly basis. Read more

MARKET UPDATE:Sensex rose 70 points to 39,150 levels and the Nifty testing 11,600-mark

MARKET UPDATE:Sensex rose 70 points to 39,150 levels and the Nifty testing 11,600-mark

Thursday, September 3, 2020

The equity markets in India were trading flat with a positive bias today(3rd September 2020), amid favourable cues from other Asian markets. The S&P BSE Sensex rose 70 points, or 0.18 percent, to 39,150 levels and the Nifty50 index was testing the 11,600-mark. Mahindra & Mahindra, Larsen & Toubro, and Bajaj Auto (all up 1%) were the top Sensex gainers. On the other hand, Bajaj Finance and ICICI Bank slipped 1 percent each. Among other individual stocks, aviation stocks were flying high after the central government permitted Indian airlines to increase the number of passenger flights to 60 percent of their pre-COVID capacity. The trend among Nifty sectoral indices was mixed, with the Nifty Auto index, up 1 percent, leading the list of gainers. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading half a percent higher, each. Read more

IndiaMART InterMESH gains 98% in 2 months

IndiaMART InterMESH gains 98% in 2 months

Wednesday, September 2, 2020

Shares of IndiaMART InterMESH gained 9 per cent, hitting a new high of Rs 4,189, on the BSE in the intra-day trade on Wednesday on the expectation of strong earnings outlook . The stock was trading higher for the third straight day in an otherwise weak market.In the past two months, the stock has gained 98 per cent reporting strong operational performance for the quarter ended June 2020. The leading E-commerce company caters to the business-to-business model and has seen rapid growth since getting listed on the stock exchanges a year ago. It has disinvested 70 per cent stake in the equity share capital of 10 times to Mayank Chowdhary and Atul Todi for Rs 21.17 lakh.IndiaMART is a dominant market leader in the online B2B Classifieds industry with over 70% market share, catering to a large audience spread over 1000 cities. Total revenue from operations during the quarter grew 4 per cent year on year (YoY) at Rs 153 crore. Read more

GOI puts Rs 2 crore cap on exports promotion scheme

GOI puts Rs 2 crore cap on exports promotion scheme

Wednesday, September 2, 2020

The government has capped benefits at Rs 2 crore for each business on trade done between September 1 to December 31, sparking protests against the "unilateral step" under its biggest exports promotion scheme A Commerce Department notification released yesterday (1st sept.2020) said that all benefits under the Merchandise Exports of India Scheme (MEIS) will stop from January 1, 2021, effectively confirming the end date of the scheme. The department argued that the advance notice of four months of the end date of MEIS provides certainty for future pricing decisions. Read more

MARKET UPDATE:Sensex hovered around 38,870 levels and the Nifty trading near 11,490-mark

MARKET UPDATE:Sensex hovered around 38,870 levels and the Nifty trading near 11,490-mark

Wednesday, September 2, 2020

The equity markets in India were trading flat on today(2nd September 2020). Among the benchmark indices, the S&P BSE Sensex hovered around 38,870 levels and the Nifty50 index was trading near 11,490-mark. ONGC gained over 2 percent after the announcement of its June quarter results and was the top Sensex gainer in the early deals. UltraTech Cement, Tech Mahindra, and Tata Steel (all up 1%) were the other top gainers. On the other hand, Bajaj Auto and Kotak Mahindra Bank dipped 1 percent each. Shares of Vodafone Idea leaped 14 percent after the company announced a board meeting on September 4 to consider fundraising. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 0.9 percent, being the major drag. In the broader market, the S&P BSE MidCap index was trading 0.7 percent higher and the SmallCap index was ruling 1 percent up. Read more

MARKET UPDATE:Sensex climbed 450 points to reclaim 39,000-level and Nifty testing the 11,500-mark

MARKET UPDATE:Sensex climbed 450 points to reclaim 39,000-level and Nifty testing the 11,500-mark

Tuesday, September 1, 2020

The historic fall in Q1 GDP growth did not dampen the sentiment of investors who sent the benchmark indices near a percent higher in today's (1st September 2020) early deals ahead of the Supreme Court's verdict on AGR. The S&P BSE Sensex climbed 350 points, or 0.92 percent, and reclaimed the 39,000-level and the Nifty50 index was testing the 11,500-mark. IndusInd Bank (up 4%), Tata Steel, State Bank of India, and Bajaj Finance (all up 2%) were the top Sensex gainers. On the other hand, ONGC dipped 3 percent. The Supreme court is set to deliver decisions on three key issues: the tenure for staggered payment of AGR dues, whether or not Reliance Jio has to pay the hefty AGR dues bill of Rcom, and Bharti Airtel, that of Aircel and Videocon. And three, whether banks can, as creditors, transfer spectrum to a new buyer under IBC, without first taking cognizance of the dues of the government. Read more

MARKET UPDATE:Sensex zooms 400 points to 39,870 levels and Nifty hovered around 11,780 levels

MARKET UPDATE:Sensex zooms 400 points to 39,870 levels and Nifty hovered around 11,780 levels

Monday, August 31, 2020

Equity markets in India today(31st August 2020) gained one percent in early deals, lifted by financials, ahead of the release of Q1 GDP data later in the day. Among the benchmark indices, the S&P BSE Sensex was trading 400 points higher at 39,870 levels after briefly reclaiming the psychological level of 40,000, earlier in the session. The Nifty50 index hovered around 11,780 levels. IndusInd Bank (up 5%, Axis Bank, ONGC, and HDFC Bank (all up 2%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped 1 percent. Reliance Industries rose 2 percent and Future Retail surged as much as 20 percent after Reliance Industries announced the acquisition of retail & wholesale business and the logistics & warehousing business of the Future Group. The majority of the Nifty sectoral indices were trading in the green, led by the Nifty Bank index, up 1.5 percent. Read more

MARKET UPDATE:Sensex up 220 points at 39,334 levels and Nifty topped the 11,600-mark

MARKET UPDATE:Sensex up 220 points at 39,334 levels and Nifty topped the 11,600-mark

Friday, August 28, 2020

Equity markets in India today(28th August 2020) were trading firm, up to half a percent, on the first day of the September F&O series, with financials contributing majorly to the gains. The S&P BSE Sensex was trading 220 points up at 39,334 levels and the Nifty50 index topped the 11,600-mark. Axis Bank (up 4%) and Larsen & Toubro (up 2%) were the top Sensex gainers. GMR Infra shot up 10 percent after the company said the Group would separately list its airport business. The trend among Nifty sectoral indices was positive, led by the Nifty Bank index, up 2 percent. In the broader market, the S&P BSE MidCap was trading 0.8 percent higher and the SmallCap index was up 0.4 percent. Eighty-one companies, including Khadi India, and Archies, are scheduled to announce their June quarter results today.

Indian equities may continue to rise in anticipation of the ensuing recovery

Indian equities may continue to rise in anticipation of the ensuing recovery

Thursday, August 27, 2020

Reduced pessimism around Covid-19, Global stimulus, and significant reform expectation from the Indian government is keeping Indian market sentiments positive. Many of the concerns around banking, real estate, and the economy itself, should sort themselves out over the next 24 months. Notwithstanding the usual market gyrations, Indian equities may continue to rise in anticipation of the ensuing recovery. Investors must use this opportunity to build a high-quality portfolio for the next big upcycle. The following are a few stocks that may perform well in this direction as per Amar Ambani, Partner and Head of Research, Yes Securities ( Source: Economic Times). Read more

MARKET UPDATE:Sensex up 200 points at 39,260 levels and Nifty reclaimed the 11,600 level

MARKET UPDATE:Sensex up 200 points at 39,260 levels and Nifty reclaimed the 11,600 level

Thursday, August 27, 2020

The markets in India today(27th August 2020) rose half a percent ahead of the expiry of the August series derivative contracts. The S&P BSE Sensex was up 200 points at 39,260 levels, and the Nifty50 index reclaimed the crucial psychological level of 11,600. IndusInd Bank (up 2%) was the top Sensex gainer, followed by HDFC (up 1%). Hindustan Aeronautics tanked 11 percent in early deals after the company said that the government plans to sell as much as 15 percent stake in the company through a public offering of shares. The trend among Nifty sectoral indices was positive, led by the Nifty Bank index, up 0.9 percent. The broader markets tracked the benchmarks' gain, with the S&P BSE MidCap and SmallCap indices trading 0.6 percent higher, each. Fifty-one companies including NMDC and Avanti Feeds are scheduled to announce their June quarter results today.

MARKET UPDATE:Sensex flat, Nifty around 11,500

MARKET UPDATE:Sensex flat, Nifty around 11,500

Wednesday, August 26, 2020

The markets in India today(26th August 2020) were trading flat with a positive bias, on the back of mixed global cues. The S&P BSE gained 72 points at 38,910 levels and the Nifty50 index hovered around 11,500-mark. Bajaj Auto (up 3%) was the top Sensex gainer, followed by PowerGrid, Mahindra & Mahindra, and Bajaj Finserv (all up 2% each). On the other hand, Bharti Airtel dipped 1 percent in early deals. Can Fin Homes surged 8 percent after announcing its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty Auto index, up 1.6 percent. In the broader market, the S&P BSE MidCap as well as the SmallCap index were both up 0.5 percent each. Thirty-one companies, including Indraprastha Gas and Gillette India, are scheduled to announce their June quarter results today.

Indian economy will take longer to recover: RBI

Indian economy will take longer to recover: RBI

Tuesday, August 25, 2020

stimulus measures once the cure to Covid-19 is found, the report adds. High-frequency indicators so far pointed to a “retrenchment in activity that is unprecedented in history,” the annual report said, adding, “the improvements that became visible in May and June after the lockdown was eased in several parts of the country, appear to have lost strength in July and August, mainly due to reimposition or stricter imposition of lockdowns, suggesting that contraction in economic activity will likely prolong into the second quarter.” The central bank noted that the shock to consumption is severe, and it will take quite some time to mend and regain the pre-pandemic momentum. Read more

MARKET UPDATE:Indices at 6-month high;Sensex up 166 pts to 38,960 levels, Nifty reclaimed 11,500-level

MARKET UPDATE:Indices at 6-month high;Sensex up 166 pts to 38,960 levels, Nifty reclaimed 11,500-level

Tuesday, August 25, 2020

The markets in India today(25th August 2020) rose half a percent to the highest level in the last six months, due to firm global cues. The S&P BSE Sensex was up 166 points, or 0.43 percent, at 38,960 levels and the Nifty50 index reclaimed the psychological level of 11,500. IndusInd Bank (up 2%) was the top Sensex gainer, followed by State Bank of India, Axis Bank, and Asian Paints (all up 1%). Max Financial Services surged 10 percent after Axis Bank said it has reduced the size of the stake that it plans to buy in Max Life Insurance to 17 percent from 29 percent. All the Nifty sectoral indices, except Nifty IT index, were trading in the green, led by Nifty PSU Bank index, up 1 percent. The broader markets, once again, outperformed the benchmarks, with the S&P BSE MidCap and SmallCap indexes trading 0.7 and 0.8 percent higher, respectively. Seventy-six companies including Can Fin Homes, Atul Auto are scheduled to announce their June quarter results today.

MARKET UPDATE:Sensex climbed 206 pts to 38,640 levels, Nifty topped 11,400-mark

MARKET UPDATE:Sensex climbed 206 pts to 38,640 levels, Nifty topped 11,400-mark

Monday, August 24, 2020

The markets in India climbed half a percent today(24th August 2020), lifted mainly by financials. The S&P BSE Sensex rose 206 points, or 0.5 percent, to 38,640 levels and the Nifty50 index topped the 11,400-mark. Kotak Mahindra Bank gained the most 2 percent, followed by HDFC Bank, IndusInd Bank, and State Bank of India (all up 1 percent each). On the stock-specific front, Gautam Adani-led Adani Group gained 3 percent as it is set to acquire a 74 percent stake in Mumbai International Airport with the current operator settling its disputes with its minority partner and exiting the venture. The Nifty sectoral indices were largely in the green, led by the Nifty Bank index, up 1.4 percent. The broader markets continued their outperformance with the S&P BSE MidCap and SmallCap indexes ruling 0.6 percent and 1 percent higher, respectively. Read more

Public Sector Banks face fresh capital shortages as coronavirus aftermath: Moody's

Public Sector Banks face fresh capital shortages as coronavirus aftermath: Moody's

Friday, August 21, 2020

Public sector banks in India will need external capital injection of Rs 1.9-2.1 trillion over the next two years to restore loss absorption capacity, according to Moody’s. The most likely source of capital to plug these capital shortfalls is the government, despite its completion of a large recapitalisation just a few months ago. Uncertainty surrounding India's economic recovery and the ongoing clean-up of balance sheets are making it difficult for banks to raise equity capital from markets, the rating agency said in a statement. "PSBs dominate India's banking system, meaning any failure could jeopardise financial stability Moody’s, said. The sharp slowdown in India's economic growth, exacerbated by the coronavirus outbreak, will hurt public sector banks' (PSBs) asset quality and drive up credit costs. The Non-Performing Loans (NPLs) ratio will rise to 14.5 percent by March 2022 from 11 percent as of March 2020.

MARKET UPDATE:Sensex jumped 312 pts to 38,530 levels, Nifty reclaimed the 11,400-mark

MARKET UPDATE:Sensex jumped 312 pts to 38,530 levels, Nifty reclaimed the 11,400-mark

Friday, August 21, 2020

The markets in India rose over half a percent today(21st August 2020), following the firm trend in the Asian markets. The S&P BSE Sensex jumped 312 points, or 0.82 percent, to 38,530 levels, and the Nifty50 index reclaimed the 11,400-mark. PowerGrid (up 3%), NTPC, and SBI (both up 2%) were the top Sensex gainers. Among other individual stocks, GMM Pfaudler surged over 8 percent in early deals after it said it has acquired a 54 percent stake in its parent firm Pfaudler Group for a consideration of around $27.4 million. The trend among Nifty sectoral indices was positive, led by the Nifty PSU Bank index, up 1.6 percent. Meanwhile, the broader markets kept up their outperformance, with the S&P BSE MidCap and SmallCap indexes both trading over 1 percent higher. Fifty-one companies including PNB, Indiabulls Housing Finance, and Union Bank of India, are scheduled to announce their June quarter results today.

MARKET UPDATE:Sensex down 250 pts, Nifty hovered around 11,300-mark

MARKET UPDATE:Sensex down 250 pts, Nifty hovered around 11,300-mark

Thursday, August 20, 2020

The equity markets in India languished in today's late morning session, with financials dragging the indices. The S&P BSE Sensex was trading 278 points, or 0.72 percent, lower at 38,340 levels and the Nifty50 index hovered around 11,300-mark. ICICI Bank, down 2%, was the top Sensex loser, followed by IndusInd Bank, Larsen & Toubro, and ONBC (all down over 1%). On the other hand, IT stocks -- TCS, Infosys, and HCL Tech -- were among the few Sensex stocks trading in the green. The trend among Nifty sectoral indices was largely in the red, with the Nifty Bank, Nifty Financials, and Nifty Metal indexes all trading over 1 percent lower. The broader market, however, quickly erased the opening losses. The S&P BSE MidCap index turned flat while the SmallCap index inched into the green. Read more

MARKET UPDATE:Sensex rose 227 pts, Nifty hovered around 11,450-mark

MARKET UPDATE:Sensex rose 227 pts, Nifty hovered around 11,450-mark

Wednesday, August 19, 2020

The equity markets in India were trading half a percent higher today(19th August 2020), lifted by gains in some heavyweight stocks. The S7p BSE Sensex rose 227 points, or 0.6 percent, to 38,740 levels and the Nifty50 index hovered around the 11,450-mark. SBI (up 2%) was the top Sensex gainer, followed by ICICI Bank and Larsen & Toubro (both up 1%). Reliance Industries also climbed 1 percent in early deals after announcing the acquisition of a majority equity stake in online pharmacy delivery startup Netmeds for a cash consideration of approximately Rs 620 crore. All the Nifty sectoral indices were trading in the green, led by Nifty PSU Bank index, up 1.9 percent. The broader market outperformed the benchmark indices in early deals, with the S&P BSE Midcap and Small Cap indices trading 0.8 percent higher. Thirty-two companies including CSB Bank, Muthoot Finance, are scheduled to announce their June quarter earnings today.

MARKET UPDATE:Sensex gains 200 pts, Nifty tops 11,300

MARKET UPDATE:Sensex gains 200 pts, Nifty tops 11,300

Tuesday, August 18, 2020

The equity markets in India were trading half a percent higher today(18th August 2020), helped majorly by heavyweight Reliance Industries. The S&P BSE Sensex was trading 213 points higher at 38,260 levels and the Nifty50 index reclaimed the 11,300-mark. Reliance Industries (up 1.9 percent) was the top Sensex gainer, followed by ONGC, NTPC, and ICICI Bank (all up 1% each). On the other hand, HDFC Bank dipped 1 percent in early deals after US-based Rosen Law Firm said it plans to investigate potential securities claims against the bank following allegations of sharing "materially misleading business information" with investors. Bandhan Bank also gained 2 percent after the RBI lifted the restrictions imposed on the remuneration of the bank's MD & CEO. The trend among Nifty sectoral indices was positive, led by Nifty Financial Services, up 0.5 percent. Read more

The Indian economy may contract16.5 % in Q1FY21, as against previously expected contraction of 20%

The Indian economy may contract16.5 % in Q1FY21, as against previously expected contraction of 20%

Monday, August 17, 2020

There is a small Silverline for the Indian economy. It may report a contraction of16.5 percent in April-June quarter of FY21, as against a previously expected contraction of 20 percent, as degrowth in corporate GVA, courtesy better-than-expected results of some financial and non-financial companies have been significantly better than revenue degrowth in Q1FY21, said economists at SBI. "In May, we had indicated that the Q1FY21 GDP growth will exhibit a sharp decline at least in excess of 30 percent. However, the current situation warrants us to revisit our GDP growth... In principle, the revenue decline of listed companies has been far outstripped by cost rationalisation thereby not impacting margins. As per our estimates, Q1FY21 real GDP degrowth would be now around –16.5 percent," Soumya Kanti Ghosh, chief economic advisor for SBI wrote in his latest report Ecowrap, dated August 17. The government is expected to release Q1FY21 GDP data on August 31. Read more

MARKET UPDATE:Volatile market-Sensex 77 points down at 37,800 levels and Nifty slipped below 11,200-mark

MARKET UPDATE:Volatile market-Sensex 77 points down at 37,800 levels and Nifty slipped below 11,200-mark

Monday, August 17, 2020

The equity markets in India erased their opening gains and were trading flat with negative bias today(17th August 2020), following the mixed trend in Asian indices. The S&P BSE Sensex was trading 77 points lower at 37,800 levels after rising as high as 38,119 in the opening deals. The broader Nifty50 index also slipped below the 11,200-mark. NTPC, Larsen & Tourbo, Titan, and Tech Mahindra (all up 1%) were the top Sensex gainers. On the other hand, Reliance Industries and Axis Bank dipped over 2 percent each. Meanwhile, Glenmark Pharma surged as much as 7 percent after posting an over two-fold increase in consolidated net profit in June 2020 quarter. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 1 percent, leading the list of gainers. Thirty-seven companies, including Can Fin Homes, Petronet LNG, and Suven Pharmaceuticals, are set to report their quarterly earnings today.

MARKET UPDATE:Sensex up by 152 points at 38,460 levels and the Nifty hovered around the 11,350-mark

MARKET UPDATE:Sensex up by 152 points at 38,460 levels and the Nifty hovered around the 11,350-mark

Friday, August 14, 2020

The equity market in India edged up half a percent today(14th August 2020) ahead of the SC hearing on telcos' AGR dues later in the day. The S&P BSE Sensex added 152 points at 38,460 levels and the Nifty50 index hovered around the 11,350-mark. Reliance Industries, Larsen & Toubro, and Sun Pharma (all up 1%) were the top Sensex gainers. Besides, Eicher Motors slipped over 2 percent in early deals after posting a net loss of Rs 55 crore in the June quarter results (Q1FY21). Hero MotoCorp was also trading lower after reporting a 95 percent YoY dip in Q1 net profit. The Nifty sectoral indices were trading largely in the green, led by the Nifty Pharma index, up 0.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were trading 0.12 and 0.58 percent higher, respectively. Read more

The economic reality India may face after the reopening relief fades

The economic reality India may face after the reopening relief fades

Thursday, August 13, 2020

In India, ever since the sudden lockdown brought all economic activity to a screeching halt, all hopes of a turnaround have come to be pinned on an easing of restrictions. Easing began in May in stages and for some time, economic data was showing signs of a recovery in business activity. But as the lives-versus-economy dilemma enters a more critical stage, these signs are now waning. Even as the government clutches at straws in search of potential game-changers, the gradual easing of lockdowns has sparked hope in some quarters. But what will come to the economy's rescue after the reopening relief fades, remains entirely uncertain. Read more

MARKET UPDATE:Sensex up by 120 points at 38,490 levels and the Nifty at 11,350-mark

MARKET UPDATE:Sensex up by 120 points at 38,490 levels and the Nifty at 11,350-mark

Thursday, August 13, 2020

The equity market in India was trading with slim gains on Thursday, lifted primarily by metal stocks. Among the headline indices, the S&P BSE Sensex was up 120 points at 38,490 levels and the Nifty50 index topped the 11,350 marks. TCS, SBI, and Tech Mahindra (all up 1%) were the top Sensex gainers. On the other hand, Bharti Airtel dipped over 4 percent in early deals. Aurobindo Pharma also fell 4 percent despite reporting a 22.8 percent YoY rise in consolidated profit at Rs 780.7 crore in the June quarter. Indiabulls Group stocks gained after Sameer Gehlaut stepped down as the company's executive chairman with immediate effect. The trend among Nifty sectoral indices was largely in the green, led by Nifty Metal index, up 2 percent, The broader indices outperformed their benchmark peers with the S&P BSE MidCap and the SmallCap index trading 0.8 percent higher each. Read more

HAL share gains 10 per cent on approval of equipment acquisition

HAL share gains 10 per cent on approval of equipment acquisition

Wednesday, August 12, 2020

Shares of Hindustan Aeronautics (HAL) rallied as much as 10.5 per cent and hit a fresh 52-week high of Rs 1,126 on the BSE on Wednesday after the Ministry of Defence (MoD) on Tuesday approved the acquisition of 'Make in India' equipment worth Rs 8,722 crore required by the Indian Armed Forces. HAL stock price has rallied over 151 per cent from March lows of Rs 448 apiece and the total market capitalisation of the company stands at Rs 36,949.82 crore. The Defence Acquisition Council held meeting with Defence Minister Rajnath Singh, accorded approval for capital acquisitions of various platforms and equipment required by the Indian Armed Forces. Proposals for an approximate cost of Rs 8,722.38 crore were approved. DAC approved procurement of 106 basic trainer aircraft from HAL to address the basic training requirements of the Indian Air Force. It also added that post-certification, 70 BTA will be initially procured from HAL and balance 36 after operationalisation of HTT-40 fleet.

MARKET UPDATE:Sensex dipped 260 points to 38,140 levels and the Nifty hovered around 11,250-mark

MARKET UPDATE:Sensex dipped 260 points to 38,140 levels and the Nifty hovered around 11,250-mark

Wednesday, August 12, 2020

The equity markets in India slid half a percent today(12th August 2020), weighed down by metals and financials. The S&P BSE Sensex dipped 260 points to 38,140 levels and the Nifty50 index hovered around 11,250-mark. Bajaj Finance (down 2%), Bajaj Finserv, and Axis Bank (down 1%) were the top Sensex laggards. Besides, heavyweights HDFC Bank and Reliance Industries also slipped more than 1 percent each in early deals. The trend among NIfty sectoral indices was largely in the red, led by losses in the Nifty Metal index, down 1.4 percent. One thirty -seven companies, including Aurobindo Pharma, Ashok Leyland, and Tata Power are scheduled to announce their June quarter results today.

MARKET UPDATE:Sensex climbed 338 points to 38,520 levels and Nifty topped the 11,350-mark

MARKET UPDATE:Sensex climbed 338 points to 38,520 levels and Nifty topped the 11,350-mark

Tuesday, August 11, 2020

The equity markets in India India rose over half a percent today(11th August 2020), in line with a strong trend in other Asian markets. The S&P BSE climbed 338 points to 38,520 levels and the Nifty50 index topped the 11,350-mark. ICICI Bank gained 2 percent after the bank launched its qualified institutional placement (QIP), setting the floor price at Rs 351.36 per share. Besides, Axis Bank and Tata Steel (both up 2%) were among the other top gainers. On the other hand, Titan slipped over 3 percent after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty Metal index, up 2 percent. Today, 90 companies, including RITES, Motherson Sumi, and Metropolis Healthcare, are scheduled to announce their June quarter results.

Manmohan Singh offers three remedies to help to restore the country’s financial health

Manmohan Singh offers three remedies to help to restore the country’s financial health

Monday, August 10, 2020

Former prime minister Manmohan Singh and world-renowned economist has proffered three steps to restore the country’s financial health. Singh, a long-time Congress stalwart who is often credited as the architect of India's economic reforms program, suggested direct cash assistance to protect livelihoods and retain spending power, government-backed credit guarantee schemes to make capital available for businesses, and institutional autonomy to fix the financial sector. "I do not want to use words like 'depression' in a cavalier fashion," said Singh in a conversation with the BBC, adding that a deep and prolonged economic slowdown was inevitable. Read more

MARKET UPDATE:Sensex rose 300 points to 38,340 levels and Nifty reclaimed the 11,300 mark

MARKET UPDATE:Sensex rose 300 points to 38,340 levels and Nifty reclaimed the 11,300 mark

Monday, August 10, 2020

The equity markets in India were trading half a percent higher today(10th August 2020), lifted mainly by pharma stocks. Among the benchmark indices, the S&P BSE Sensex rose 300 points to 38,340 levels and the Nifty50 index reclaimed the 11,300 marks. Larsen & Toubro and Mahindra & Mahindra gained 3 percent each in early deals and were the top Sensex gainers. Meanwhile, Divi's Laboratories surged 15 percent after the announcement of its June quarter results. The Nifty sectoral indices were trading in the green, led by the Nifty Pharma index, up 2 percent. One hundred companies including Titan and Bank of Baroda are scheduled to announce their June quarter results today.

What India has been spending during the pandemic

What India has been spending during the pandemic

Friday, August 7, 2020

Months of lockdown and KOVID-19 threat have altered the habits of Indian consumers: Their spending patterns reveal just how deeply concerned they are with protecting their health and fortifying their store-cupboards, warding off boredom, and keeping their homes neat and tidy. Consumers around the world are showing an increased interest in safeguarding their health and boosting their immunity. In India, that often means Ayurveda and Companies such as Dabur India Ltd. and The Himalaya Drug Co. are witnessing high demand for traditional products like chyawanprash and proprietary supplements like Septilin. Read more

MARKET UPDATE:Sensex, Nifty in the red-sensex at 38000 levels and Nifty gaveup 11,200-mark

MARKET UPDATE:Sensex, Nifty in the red-sensex at 38000 levels and Nifty gaveup 11,200-mark

Friday, August 7, 2020

The equity market in India was trading with slight cuts today (7th August 2020) amid mixed global cues. Among the benchmark indices, the S&P BSE Sensex dipped 30 points to around 38,000 levels and the Nifty50 index gave up the 11,200-mark. HCL Tech, Tata Steel, ICICI Bank (all down over 1%) were the top Sensex laggards while ONGC gained 1 percent. Vodafone Idea slid as much as 7 percent after reporting a sharp rise in its losses to Rs 25,460 crore for the June quarter of FY21 while HPCL's stock gained 4 percent after the company reported a 157 percent jump in its June quarter net profit. The trend among Nifty sectoral indices was largely negative, with the Nifty Bank index, down 0.7 percent, leading the list of losers. On the other hand, the broader market outperformed their benchmark peers after changes in circuit limits for about 650 companies became effective today. The S&P BSE MidCap and SmallCap indexes were both trading 0.7 percent higher. Read more

Disparity between rallying global stocks and deteriorating data is the most pronounced in India

Disparity between rallying global stocks and deteriorating data is the most pronounced in India

Wednesday, August 5, 2020

The Indian shares have logged one of the best rebounds from the March lows globally while battling some of the world’s worst economic data. The surge has pushed up valuations to a record as investors look past the grim reality and the world’s third-highest tally in coronavirus cases. The disconnect between rallying global stocks and deteriorating data is very much pronounced in India. The situation does not go well for Asia’s third-largest economy that’s set for its first contraction in more than four decades. Further negative surprises from macro data or virus cases can unravel a rally that’s added $605 billion in market value from the depths of the swoon to outstrip the government’s stimulus package. Read more

MARKET UPDATE:Sensex up 350 points and reclaims 38,000-mark and Nifty at 11,200 level

MARKET UPDATE:Sensex up 350 points and reclaims 38,000-mark and Nifty at 11,200 level

Wednesday, August 5, 2020

Indian stock market was trading nearly a percent higher today(5th August 2020). The benchmark S&P BSE Sensex was ruling 325 points or 0.86 percent, higher at 38,013 level. Tata Steel and Axis Bank, up 2.4 percent each, were the top gainers on the index, followed by gains in IndusInd Bank and Reliance Industries (up 2 percent each), and Bajaj Finance (1 percent). On the downside, only Power Grid and Nestle were trading as laggards on the 30-share index, down 1 percent each. The broader Nifty50, meanwhile, was inching towards 11,200-level, and was at 11,187 in early deals Sectorally, metal stocks surged higher amid positive global cues. The nifty Metal index was up 2 percent on the NSE, while Nifty Auto and Private Bank indices advanced 1 percent, each. In the broader market, the S&P BSE MidCap index was at 13,984 level, up 0.92 percent. On the other hand, the S&P BSE SmallCap index was up 0.8 percent at 13,424 level.

MARKET UPDATE:Extended rally-Sensex up 333 points at 37,272 level and Nifty at 10,990 level

MARKET UPDATE:Extended rally-Sensex up 333 points at 37,272 level and Nifty at 10,990 level

Tuesday, August 4, 2020

Equities in Indian markets extended their rally and were trading nearly a percent higher today(4th August 2020). The benchmark S&P BSE Sensex was at 37,272 level in morning deals, up 333 points, or 0.9 percent. RIL, ONGC, ITC, Asian Paints, and Maruti Suzuki trading as top gainers on the index. On the downside, IndusInd Bank, TechM, Power Grid, and HCL Tech slipped in the red. HDFC Bank surged over 5 percent after media reports suggested the Reserve Bank of India has approved Sashidhar Jagdishan's name for the post of CEO of the bank. The broader Nifty50, meanwhile, was at 10,990 level, up 92 points, or 0.9 percent. Sectorally, the Nifty IT index slipped into the red, down 0.4 percent, after US President Donald Trump on Monday signed an executive order restricting federal agencies from contracting or subcontracting foreign workers, hurting Indian IT professionals who work in the US on the H-1B visa. Read more

MARKET UPDATE:Sensex slips 300 points aand Nifty below 11,000-mark

MARKET UPDATE:Sensex slips 300 points aand Nifty below 11,000-mark

Monday, August 3, 2020

Equity markets in India started the first trading session of August on a weak start, extending its consolidation phase from the previous week. The benchmark S&P BSE Sensex tanked 290 points, or 0.77 percent, to trade at 37,317 levels in early deals amid selling in financial counters. IndusInd Bank, HDFC Bank, and HDFC Bank, down between 1.5 and 2 percent, were the top laggards on the Sensex index, followed by weakness in HDFC, Bajaj Finance, and Reliance Industries. On the upside, Maruti Suzuki, Bajaj Auto, and M&M were the top gainers on the benchmark index on the back of healthy July auto sales figures. That apart, Bandhan Bank skid over 8 percent on the BSE after 356 million equity shares changed hands on the counter in a block deal. The broader Nifty50, meanwhile, was testing 11,000 level, down 73 points or 0.0.66 percent. Read more

Big countries such as India are at a disadvantage in dealing with pandemics

Big countries such as India are at a disadvantage in dealing with pandemics

Friday, July 31, 2020

India is now the epicenter of the global coronavirus pandemic. It ranks just behind the U.S. and Brazil in confirmed cases and is growing faster than either. The total rose 20% in just the last week, despite the fact that India is testing less than most of its peers. It’s looking increasingly likely that India will wind up being the country with the most cases in the world. It is a reflection of the fact that big, diverse countries are at a disadvantage in dealing with pandemics. Smaller nations such as New Zealand or Thailand can manage the flow of cases by shutting down their international borders. But internal borders are as porous in India as they are in the U.S. Read more

MARKET UPDATE:Volatile start-Sensex up by 60 points after slipping to as much as 37,538 levels, and Nifty gave up 11,100-mark

MARKET UPDATE:Volatile start-Sensex up by 60 points after slipping to as much as 37,538 levels, and Nifty gave up 11,100-mark

Friday, July 31, 2020

The equity markets in India fluctuated between gains and losses in a volatile start today(31st July 2020). The S&P BSE Sensex was trading 60 points higher at 37,800 levels after slipping to as much as 37,538 levels. The Nifty50 index gave up the 11,100-mark. Reliance Industries slid 2 percent after reporting its June quarter results. The HDFC twins slipped 2 percent each and were among the top Sensex losers. On the other hand, IT stocks were once again in focus with HCL Tech, TCS, Tech Mahindra, and Infosys all rising over 1 percent each. The trend among Nifty sectoral indices mixed. Nifty IT index rose 1 percent while the Nifty Financial Services index dipped 1 percent. Five hundred and seventy-six companies including State Bank of India, Tata Motors, Sun Pharmaceutical Industries, Indian Oil Corporation are scheduled to announce their quarterly results. Read more

MARKET UPDATE:Sensex up by 263 points to hover around 38,334 levels, and Nifty around 11,270 level

MARKET UPDATE:Sensex up by 263 points to hover around 38,334 levels, and Nifty around 11,270 level

Thursday, July 30, 2020

Equity markets in India were trading half a percent higher today(30th July 2020). The S&P BSE Sensex added 263 points to hover around 38,334 levels and the Nifty50 index was trading around 11,270 levels. IT stocks-HCL Tech, TCS, and Infosys-rose over 1 percent. Bharti Airtel gained 2 percent after posting a 15 percent growth in Q1 revenue. while InterGlobe Aviation slipped 4 percent before recouping losses after posting its biggest-ever quarterly loss. The Nifty sectoral indices were trading in the green, led by the Nifty IT index, up 1 percent. Four hundred and three companies, including Reliance Industries, HDFC, and Dabur India, are slated to report their quarterly earnings today. Read more

Moody's Investors Service forecast a negative outlook for the steel industry in India

Moody's Investors Service forecast a negative outlook for the steel industry in India

Wednesday, July 29, 2020

Due to the adverse effect of coronavirus pandemic on the economy Steel consumption is expected to decline at least 10 percent for rated Indian steel-makers, says a report. Moody's Investors Service in the latest report has forecast a negative outlook for the steel industry in the Asia Pacific region. According to Moody's Investors Service, India's (Baa3 negative) economic growth will remain materially lower than in the past, with real GDP contracting 3 percent in 2020. "We assume that economic activity will gradually pick up in July. However, given the possibility for second or third waves of virus infections or deeper economic costs than currently factored in, the downside risk to these forecasts is significant," the agency said. Moody's estimates that lower GDP growth will translate into steel consumption falling at least 10 percent for rated steel-makers in the 12 months to March 2021.

India's GDP growth to lose momentum from late third quarter: Oxford Economics report

India's GDP growth to lose momentum from late third quarter: Oxford Economics report

Wednesday, July 29, 2020

Oxford Economics, a Global forecasting firm, yesterday (28th July 2020) said it expects India's GDP growth to lose momentum from the late third quarter (October-December) of the current fiscal as the push from the initial reopening fades. It further said India fares the worst in its Asia recovery scorecard, implying that the country will likely take the longest among major economies to converge to its pre-coronavirus growth level. Oxford Economics, in a report titled 'India: A reopening went wrong', said the central government's attempts to restart the economy are already running aground. "In our baseline, we expect GDP growth to lose momentum from late Q3 on, once the push from the initial reopening fades and, likely compounded by the ongoing pandemic and inadequate policy support, legacy economic headwinds re-assert themselves. Read more

MARKET UPDATE:Volatile start: Sensex slipped 100 points to 38,400 levels, and Nifty slipped below 11,300-mark

MARKET UPDATE:Volatile start: Sensex slipped 100 points to 38,400 levels, and Nifty slipped below 11,300-mark

Wednesday, July 29, 2020

The equity market in India had a volatile start today on the back of mixed cues in Asian markets. The S&P BSE Sensex slipped 100 points to 38,400 levels and the Nifty50 index slipped below the 11,300-mark. IndusInd Bank surged as much as 7 percent after the bank got approval to raise Rs 3,288 crore through preferential issue of fully paid-up shares. Besides, YES Bank also rose 3 percent higher after the announcement of its June quarter results. All the Nifty sectoral indices were trading in the green, led by the Nifty PSU Bank index, up 1.6 percent. One hundred and eighty companies are scheduled to announce their quarterly earnings today. Analysts expect Bharti Airtel to post a loss of as much as Rs 318.9 crore as compared to Rs 5,236.9 crore loss reported in Q4FY20. Revenue growth for the quarter, however, is likely to remain flat with India's non-wireless revenues traction remaining robust. Read more

Indian IT firms go aggressive in mergers and acquisitions

Indian IT firms go aggressive in mergers and acquisitions

Tuesday, July 28, 2020

The top four Indian IT firms have a cash reserve of close to $15 billion. Market leader Tata Consultancy Services has around $5.9 billion, while it is around $3.6 billion for Infosys. Wipro is sitting on close to $3.4 billion, while HCL Technologies has $1.75 billion. As growth slows owing to the pandemic, these cash-rich tier-I IT services companies are pursuing organic growth, including acquisition, indicating a change in capital allocation policies. Apart from mergers and acquisitions (M&As), even large rebadging deals (outsourcing work while reducing employee strength) and buying out captives of global firms are part of these initiatives. This is being done to drive revenue growth at a time most firms posted a revenue decline in sequential terms in Q1 of FY21, which is traditionally considered to be a strong quarter for IT services companies. Read more

MARKET UPDATE:Sensex up by 210 points at 38,140 levels, and Nifty above at 11,200 level

MARKET UPDATE:Sensex up by 210 points at 38,140 levels, and Nifty above at 11,200 level

Tuesday, July 28, 2020

Equity markets in India climbed higher today(28th July 2020), tracking gains from other Asian markets. The S&P BSE Sensex was trading around 38,140 levels, up 210 points and the Nifty50 index was trading above the 11,200-mark. Tech Mahindra surged over 5 percent after its June quarter profit before tax rose 32.9 percent sequentially to Rs 1,283 crore. IndusInd Bank also gained over 2 percent ahead of its quarterly results. Meanwhile, YES Bank tanked another 10 percent in early deals. The trend among Nifty sectoral indices was green, led by the Nifty IT index, up 1.3 percent. One hundred and thirty-two companies, including IndusInd Bank, UltraTech Cement, and Nestle India, are scheduled to announce their results today.

MARKET UPDATE:Fluctuating market-Sensex at 38,100 levels, and Nifty holding at 11,200 level

MARKET UPDATE:Fluctuating market-Sensex at 38,100 levels, and Nifty holding at 11,200 level

Monday, July 27, 2020

Equity markets in India fluctuated between minor gains and losses today(27th July 2020) amid mixed global cues. The S&P BSE Sensex hovered around 38,100 levels while the Nifty50 index continued to hold the 11,200 level. Among individual stocks, HDFC Bank dipped over 2 percent after Managing Director Aditya Puri sold 95 percent of his shareholding in the bank valued at Rs 842.7 crore between July 21 and July 23. YES Bank tanked 10 percent after the over 12.5 billion new shares issued in the follow-on public offering commenced trading. Besides, Reliance Industries, TCS, and HCL Tech rose over 1 percent each and were the top Sensex gainers. The trend among Nifty sectoral indices was mixed, with the Nifty Bank index, down 1.3 percent, leading the list of losers. One hundred companies including Tech Mahindra, Marico, and Havells India are scheduled to announce their quarterly results today.

Indian GDP may not shrink too severely: DEA Secy

Indian GDP may not shrink too severely: DEA Secy

Friday, July 24, 2020

Economic Affairs Secretary Tarun Bajaj Speaking at an event organised by industry body Ficci, said that based on tax collections so far, India’s economic contraction in this fiscal year might be less severe than anticipated and that the proposal of a ‘bad bank’ had been discussed internally, but no decision had been taken. “Currently, there is no proposal for debt monetisation on the table. Questions on fiscal position and debt monetisation plan should be asked after three-four months,” said Bajaj. Economists, including former RBI governor Raghuram Rajan, and former advisor to the Prime Minister, Rathin Roy, have advocated that the government can get the RBI to monetise deficit, provided it has a clear expenditure plan on where it wants to spend the resources it raises. Read more

MARKET UPDATE:Sensex dips 250 points to 37,880 levels, and Nifty below 11,200

MARKET UPDATE:Sensex dips 250 points to 37,880 levels, and Nifty below 11,200

Friday, July 24, 2020

The Indian markets slipped half a percent today(24th July 2020), dragged down primarily by financials, due to weak global cues. The S&P BSE Sensex dipped 270 points to 37,880 levels and the Nifty50 index was hovering around 11,150-mark. Asian Paints and State Bank of India (both down 2%) were the top Sensex laggards. On the other hand, Sun Pharma rose as much as 3 percent in early deals, and Reliance Industries was also trading 1 percent higher on reports that Amazon is in talks to buy a 9.9 percent stake in its retail arm. Meanwhile, Biocon was trading with marginal gains after announcing its June quarter results while Mphasis rose over 5 percent after announcing its quarterly numbers. Barring the Nifty Pharma index, which is up 1 percent, the trend among Nifty sectoral indices was negative, led by the Nifty Bank index, down over 1 percent. Read more

MARKET UPDATE:Indian markets trading with slim gains -Sensex rose 54 points to 37,920 levels, and Nifty at 11,150 levels

MARKET UPDATE:Indian markets trading with slim gains -Sensex rose 54 points to 37,920 levels, and Nifty at 11,150 levels

Thursday, July 23, 2020

The equity markets in India were trading with slim gains today(23rd July 2020), in line with the trends in Asian markets. The S&P BSE Sensex rose 54 points to 37,920 levels and the Nifty50 index hovered above 11,150 levels. Asian Paints (up 2%) was the top Sensex gainer. Larsen & Toubro was also trading over 1 percent higher after announcing its June quarter results. ICICI Securities also rose as much as 7 percent following the announcement of its quarterly results. Meanwhile, YES Bank hit a 20 percent lower circuit at Rs 14.60 on the BSE. The Nifty sectoral indices were trading mixed, with the Nifty Metal index, up 0.7 percent, leading the list of gainers. Specialty chemical company Rossari Biotech will get listed at the bourses today. The public issue, which consists of a fresh issue of Rs 50 crore and an offer for sale of 1.05 crore shares by promoters, saw a massive subscription of 79.37 times backed by QIB and non-institutional investors. Read more

Pune's Serum Institute of India is placing its bets on the Oxford-AstraZeneca vaccine candidate AZD1222

Pune's Serum Institute of India is placing its bets on the Oxford-AstraZeneca vaccine candidate AZD1222

Wednesday, July 22, 2020

Oxford-AstraZeneca vaccine candidate AZD1222 being produced at Pune’s Serum Institute of India is most likely immunogenic and effective for mass use.CEO Adar Poonawalla stated that he would start manufacturing at personal risk. The company is investing $200 million in the vaccine facility and that he wants to keep the price at below Rs 1,000. I’m confident that the Oxford-AstraZeneca vaccine candidate will be immunogenic and effective for mass use. Once the trials are successful in India and the UK, we are certain that COVISHIELD will be one of the first vaccines to be introduced" Sri Poonawalla said. Read more

Burman family(Dabur India)may join hands with the Khaitans to manage the Eveready Ind. India

Burman family(Dabur India)may join hands with the Khaitans to manage the Eveready Ind. India

Wednesday, July 22, 2020

The promoters of Dabur India — The Burman family- may join hands with the Khaitan's of Williamson Magor Group to manage the country’s largest dry cell battery maker, Eveready Industries India. After the last tranche of a share purchase of 8.48 percent by the Burmans about a week back, the promoter holding in Eveready slipped below theirs. At present, the Burman family holding is at 19.84 percent while promoters of Eveready are at 15.07 percent. From the current holding pattern, the Burmans are likely to be the majority partner, sources said. With this partnership, the promoters of Eveready are hoping to ring-fence the long-term interests of the company. Eveready had earlier held talks with Energizer and Duracell for a slump-sale of the battery business. Finalising the deal is pending because of an interim order of the Delhi High Court, preventing a change in the capital structure and sale of assets of Eveready, McLeod Russel India, and other Williamson Magor group companies.

MARKET UPDATE:Indian market volatile-Sensex slipped 70 points to 37,861 level, and Nifty at 11,144 level down 18 points

MARKET UPDATE:Indian market volatile-Sensex slipped 70 points to 37,861 level, and Nifty at 11,144 level down 18 points

Wednesday, July 22, 2020

The benchmark S&P BSE Sensex slipped around 70 points, or 0.18 percent, to trade at 37,861 level, after hitting a high of 38,199 in the opening deals. Axis Bank, Bajaj Finserv, and ICICI Bank were the top gainers on the 30 shares index, while Hindustan Unilever, Maruti Suzuki, and Bajaj Finance were the top drags. Individually, Axis Bank leaped 6 percent after the lender's logged strong net interest income (NII) growth, controlled opex, and sequential decline in provisions. Besides, outstanding funded BB & below pool declined slightly to Rs 6,420 crore while the moratorium book plummeted to 9.7 percent, which eased concerns on the asset quality outlook. On the downside, HUL slipped 2 percent to Rs 2,277 on the BSE on profit booking post the FMCG major's June quarter result. Read more

MARKET UPDATE:Sensex aup 400 points to 37,856 levelels, and Nifty 112.5 points up at 11,135 levels

MARKET UPDATE:Sensex aup 400 points to 37,856 levelels, and Nifty 112.5 points up at 11,135 levels

Tuesday, July 21, 2020

The Indian stock market opened on a positive note today(21st July 2020) amid across-the-board buying and firm global cues. The S&P BSE Sensex was ruling over 400 points or over 1 percent higher at 37,856 levels while the NSE's Nifty50 was trading 112.5 points or 1 percent higher at 11,135 points. Among individual stocks, ICICI Bank was up 2.6 percent and was the top gainer on the Sensex, followed by Power Grid and Ultratech Cement. FMCG major HUL was trading nearly 0.5 percent higher at Rs 2,341.35 ahead of its June quarter numbers later in the day. On the sectoral front, all the indices on the NSE were trading in the green. Nifty PSU Bank was up over 2 percent at 1,472.40 levels. In the broader market, the S&P BSE MidCap index gained 0.78 percent higher at 13,761 levels while the S&P BSE SmallCap index was trading at 13,020, up 0.8 per cent. Read more

MARKET UPDATE:Sensex advanced 360 points to 37,380 levelels, and Nifty surpassed the crucial 11,000-mark

MARKET UPDATE:Sensex advanced 360 points to 37,380 levelels, and Nifty surpassed the crucial 11,000-mark

Monday, July 20, 2020

In Indian markets, bulls kept their hold on the benchmark indices today(20th July 2020) The frontline S&P BSE Sensex advanced 360 points, or 0.97 percent, to 37,380 level in the early deals with 20 out of 30 constituents trading in the green on the index. The broader Nifty50 index, on the other hand, surpassed the crucial 11,000-mark and hit a high of 11,013.90 level in the morning deals. Among individual stocks, HDFC Bank surged 3 percent to Rs 1,132 level after the bank's June quarter result came in line with Street expectations. That apart, parent company HDFC gained 1.5 percent on the Sensex. That apart, Vodafone Idea jumped 6 percent to Rs 9.4 apiece as it paid Rs 1,000 crore to the government over the weekend as part of its Adjusted Gross Revenue (AGR) dues. Read more

MARKET UPDATE:Sensex rose to 36,600 levels, and Nifty hovered around 10,800 mark

MARKET UPDATE:Sensex rose to 36,600 levels, and Nifty hovered around 10,800 mark

Friday, July 17, 2020

The Equity market in India was trading higher in today's(17th July 2020) range-bound session, lifted by metals and auto stocks. The S&P BSE Sensex rose 130 points to 36,610 levels and the Nifty50 index hovered around 10,800 levels. HCL Tech climbed as much as 2 percent after the announcement of its June quarter results. Britannia Industries also gained 2 percent ahead of the announcement of its quarterly results. Besides, Tata Steel, up 3 percent, was the top Sensex gainer. The trend among Nifty sectoral indices was positive, led by the Nifty Metal index, up 1 percent. Thirty-two companies including Britannia Industries, and ICICI Lombard are scheduled to announce their quarterly results.

India Coronavirus update: 32,695 new cases in the past 24 hours- biggest single-day spike yet

India Coronavirus update: 32,695 new cases in the past 24 hours- biggest single-day spike yet

Thursday, July 16, 2020

India has recorded 32,695 Covid-19 cases in the past 24 hours — its biggest single-day spike yet — to take its total number of coronavirus cases to 970,596. With over 600 deaths on 15th July 2020, the country's Covid-19 the death toll has now reached 24,929. India, the third-most-affected country by total cases and eighth by death toll, has added 201,580 cases — 21% of its total tally — in the past 7 days alone. Worldometer recorded an increase of over 230,000 coronaviruses. The recovery rate in West Bengal has gone downhill since the last two weeks, while the rate of infection has been increasing — and all these when the city is facing an acute shortage of beds in both government and private hospitals. In the last two weeks, from 30 June to 14 July, Bengal’s discharge/recovery rate has fallen from 66.48 percent to 60 percent. In Kolkata, it has nosedived from 64 percent to 56 percent, according to state government data. Read more

MARKET UPDATE:Sensex, Nifty volatile;Sensex around 36,050 levels, and Nifty hovered 10,600 mark

MARKET UPDATE:Sensex, Nifty volatile;Sensex around 36,050 levels, and Nifty hovered 10,600 mark

Thursday, July 16, 2020

In Indian markets, benchmark indices erased the majority of the opening gains in a volatile start today(16th July 2020). The S&P BSE Sensex was trading near 36,050 levels and the Nifty50 index hovered around 10,600-mark. IT services major Infosys surged 10 percent after its June quarter results beat Street estimates with an 11.5 percent YoY rise in net profit at Rs 4,233 crore. Besides, other IT stocks also gained. HCL Tech, TCS, and Tech Mahindra climbed between 1 to 4 percent and were the top Sensex gainers. Twenty-two companies including Cyient and Bajaj Consumer Care are scheduled to announce their March quarter results today

MARKET UPDATE:Sensex up 430 points,around 36,450 levels, and Nifty topped the 10,700 level

MARKET UPDATE:Sensex up 430 points,around 36,450 levels, and Nifty topped the 10,700 level

Wednesday, July 15, 2020

In Indian markets, today(15th July 2020)benchmark indices rose over one percent on the back of firm global cues. The S&P BSE Sensex was trading around 36,450 levels, up 430 points, and the broader Nifty50 index topped the 10,700 level. Infosys gained 2 percent ahead of the announcement of its June quarter results later in the day. Besides, Reliance Industries was also trading one percent higher ahead of the company's 43rd Annual General Meeting which will be held via videoconferencing later in the day. Moreover, Wipro surged 10 percent in early deals after reporting better-than-expected quarterly numbers. All the Nifty sectoral indices were trading in the green, led by the Nifty IT index, up 2 percent. Read more

MARKET UPDATE:Sensex down 315 points to 36,380 levels and Nifty slipped below the 10,750 levels

MARKET UPDATE:Sensex down 315 points to 36,380 levels and Nifty slipped below the 10,750 levels

Tuesday, July 14, 2020

The markets in India slipped half a percent today (14th July 2020), dragged mainly by the HDFC twins, following weak global cues. The S&P BSE Sensex was down 315 points to 36,380 levels. Both HDFC and HDFC Bank slipped more than 2 percent and were among the top Sensex laggards after the latter conducted a probe into allegations of improper lending practices in its vehicle-financing operation. Besides, IndusInd Bank also dipped 2 percent. The broader Nifty50 index also slipped below the 10,750 levels. The trend among Nifty sectoral indices was largely negative, led by the Nifty PSU Bank index, down 1.6 percent. Read more

Google announces $ 10 billion Google for India Digitisation Fund

Google announces $ 10 billion Google for India Digitisation Fund

Monday, July 13, 2020

Google announced "Google for India" Digitization Fund worth $10 billion (Rs 75,000 crore) today (13th July 2020), which the technology giant would invest in India over the next 5-7 years. The investment will be done through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. Calling India's digital journey far from complete, Pichai announced the Google for India Digitization Fund that will invest nearly $ 10 billion in India over 5-7 years. "We’ll do this through a mix of equity investments, partnerships, and operational, infrastructure, and ecosystem investments. This is a reflection of our confidence in the future of India and its digital economy," wrote Pichai. Read more

MARKET UPDATE: Sensex around 36,650; Nifty slipped below 10,800-mark

MARKET UPDATE: Sensex around 36,650; Nifty slipped below 10,800-mark

Friday, July 10, 2020

The Indian markets were trading with slight cuts today (10th July 2020) after weak cues from global markets. The S&P BSE Sensex hovered at around 36,650 levels. IndusInd Bank (down 2%) was the top Sensex loser, followed by Tech Mahindra and Mahindra & Mahindra (both down over 1%). TCS fluctuated between minor gains and losses after reporting a 13.8 percent YoY decline in its June quarter profits. The broader Nifty50 index also slipped below the crucial 10,800-mark. The majority of the Nifty sectoral indices were trading in the red, led by Nifty Private Bank and Nifty Metal indexes, both down 1 percent each. Forty-four companies, including IRCTC, Lakshmi Vilas Bank, SAIL are scheduled to announce their quarterly numbers.

MARKET UPDATE: Sensex up 120 points to hover around 36,800; Nifty holds 10,800

MARKET UPDATE: Sensex up 120 points to hover around 36,800; Nifty holds 10,800

Wednesday, July 8, 2020

Equity markets in India were trading with slim gains today(8th July 2020), lifted by public sector banks and metals. The S&P BSE Sensex was up 120 points to 36,800 levels and the Nifty50 index hovered around 10,830-mark. IndusInd Bank (up 5%) gained the most among Sensex constituents, followed by Bajaj Auto and Mahindra & Mahindra (both up 1%). As per media reports, US-based hedge fund Route One Investment Company is in talks to increase its stake in IndusInd Bank. Titan Company rose a little over 1 percent after giving a business update for the June quarter of FY21. The Nifty sectoral indices were largely in the green, led by the Nifty PSU Bank index, up 1.5 percent. Twelve companies are slated to report their March quarter earnings today, while South Indian Bank is scheduled to report June quarter results.

India Inc's combined dividend payout rises 6.5%

India Inc's combined dividend payout rises 6.5%

Tuesday, July 7, 2020

The current dividend season has turned out to be unexpectedly generous despite a poor show by India Inc in the fourth quarter and fiscal year ended March 2020. The combined dividend payout by India’s top listed companies, which are part of the BSE500 Index, for FY20 was up 6.5 percent, the fastest growth in the past three years. And, equity investors should thank cash-rich biggies such as Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Nestlé, and Bajaj Auto for this. However, excluding consumer and software services companies, dividend payout is down 17.6 percent year-on-year (YoY) to Rs 1.12 trillion in FY20, from Rs 1.36 trillion a year ago. In contrast, these firms had raised the payout by 5.3 percent in FY19. Read more

MARKET UPDATE: Sensex up 50 points to hover around 36,570; Nifty at 10,750 level

MARKET UPDATE: Sensex up 50 points to hover around 36,570; Nifty at 10,750 level

Tuesday, July 7, 2020

The Indian benchmark indices were trading with slim gains today(7th July 2020), in line with the trends in the Asian markets. The S&P BSE Sensex rose 50 points to 36,570 levels and the Nifty50 index hovered above 10,750 levels. Bajaj Finance rose 2 percent after announcing its June quarter (Q1FY21) business update. The stock was the top Sensex gainer. Among other individual stocks, Bajaj Auto and Infosys also climbed 2 percent each. The trend among Nifty sectoral indices was mixed, with the Nifty IT index, up 1%, leading the list of gainers. Twenty-four companies are scheduled to announce their March quarter earnings today.

MARKET UPDATE: Sensex up 250 points to hover around 36,280; Nifty at 10,700 level

MARKET UPDATE: Sensex up 250 points to hover around 36,280; Nifty at 10,700 level

Monday, July 6, 2020

In Indian markets the domestic benchmark indices rose half a percent today, mirroring similar gains in other Asian markets. The S&P BSE Sensex gained 250 points to 36,280 levels and the Nifty50 index topped the 10,700-mark. Among individual stocks, HDFC Bank climbed 3 percent on the BSE after the bank gave its first quarter (Q1FY21) business update. The stock was also the top Sensex gainer. Besides, IndusInd Bank (up 2%) and ITC and Bajaj Finance (both up 1%) also gained. The trend among Nifty sectoral indices was positive, led by the Nifty Bank index, up 1.9 percent. Thirty-five companies including NBCC are scheduled to announce their March quarter results today.

ONGC,Oil India stocks: Investors need to exercise caution

ONGC,Oil India stocks: Investors need to exercise caution

Friday, July 3, 2020

ONGC and Oil India shares gained up to 1.7 percent yesterday (2nd July 2020) as crude oil prices rose on the back of lower US oil inventories. The two stocks have gained 32-34 percent from their March lows, as oil prices rebounded from under-$20 per barrel to over $40 now. Though market sentiment has improved and a recovery in oil prices bodes well for the state-owned oil and gas producers, investors need to be cautious. The March quarter (Q4) performance has been weak, and the June quarter is likely to see the impact of the disruption caused by Covid-19. For FY21, too, analysts don’t expect significant growth in crude output and are factoring in lower oil and gas prices. Hence, they expect a decline in earnings. Read more

MARKET UPDATE: Sensex up 150 points to hover around 36,000; Nifty at 10,600 level

MARKET UPDATE: Sensex up 150 points to hover around 36,000; Nifty at 10,600 level

Friday, July 3, 2020

Benchmark indices climbed half a percent today(3rd July 2020), tracking similar trends in other Asian markets. The S&P BSE Sensex rose 150 points to over 36,000 and the Nifty50 index topped the 10,600 level. Bajaj Auto, Axis Bank, and Powergrid (all up 1%) were the top Sensex gainers. Reliance Industries gained 1 percent after the company announced that Intel has invested Rs 1,894.5 crore in Reliance Jio for a 0.39 percent stake. Moreover, JB Chemicals rose 3 percent after it said global investment firm KKR will pick up a controlling stake of 54 percent in the company. Meanwhile, HDFC Life was also trading 3 percent higher as the company will replace Vedanta on Nifty with effect from July 31. The trend among Nifty sectoral indices was positive, led by the Nifty Pharma index, up 0.8 percent. Eighteen companies including Indiabulls Housing Finance are scheduled to announce their results today.

MARKET UPDATE: Sensex up 300 points to hover around 35,750; Nifty at 10,500 mark

MARKET UPDATE: Sensex up 300 points to hover around 35,750; Nifty at 10,500 mark

Thursday, July 2, 2020

In Indian markets today (2nd July 2020)the benchmark indices rose nearly one percent tracking gains from other Asian markets. The S&P BSE Sensex was up 300 points at 35,750 levels and the Nifty50 index reclaimed the 10,500-mark. Mahindra & Mahindra, ONGC, and IndusInd Bank (all up 2%) were the top Sensex gainers. Eveready Industries surged as much as 9 percent on the BSE after the announcement of its March quarter results. The trend among Nifty sectoral indices was positive, led by the Nifty IT index, up 2 percent.

Soon we will have private run passenger trains!

Soon we will have private run passenger trains!

Thursday, July 2, 2020

The Indian Railways formally kickstarted on 1st July 2020 its plans to allow private entities to operate passenger trains on its network by inviting request for qualifications (RFQ) for participation on 109 pairs of routes through 151 modern trains, the national transporter said. The project would entail a private sector investment of about Rs 30,000 crore, the national transporter said. This is the first initiative for private investment for running passenger trains on the Indian Railways network. "The objective of this initiative is to introduce modern technology rolling stock with reduced maintenance, reduced transit time, boost job creation, provide enhanced safety, provide world-class travel experience to passengers," the Railways said. Read more

Indian IT services firms relying less on H1B visas

Indian IT services firms relying less on H1B visas

Wednesday, July 1, 2020

The recent move by the Trump Administration to ban employment visas until December is unlikely to have any impact on Indian IT firms. According to the US Citizenship and Immigration Services data, the share of Indian companies among the top 10 visa recipients has dropped from 51 percent to 24 percent during the 2016-19 period. For the financial year 2019 ended September (immigration cycle), global technology firms were the major beneficiaries of the H1B visa programme. It allowed temporary migration of workers for a specific job in the US. Indian information technology (IT) services firms’ reliance on non-immigrant visas has been falling over the years as most companies pursue an aggressive localisation strategy. Apart from the large technology majors, even large financial institutions and retailers were the beneficiaries of this temporary work visa program.

MARKET UPDATE: Sensex up 190 points to hover around 35,100; Nifty at 10,300 mark

MARKET UPDATE: Sensex up 190 points to hover around 35,100; Nifty at 10,300 mark

Wednesday, July 1, 2020

In India, domestic benchmark indices were trading half a percent higher on 1st July, the first day of the July-September quarter, in tune with the trend in the other Asian markets. The S&P BSE Sensex hovered around the 35,100-mark, up 190 points, while the Nifty held the 10,300-level. ITC, Axis Bank, HDFC, and Reliance Industries (all up 1%) were the top Sensex gainers. On the other hand, Kotak Mahindra Bank (down 3%) and NTPC (down 3%) were the top losers. Shares of ONGC declined 4 percent after the firm posted its first-ever quarterly loss. The trend among Nifty sectoral indices was mixed, with the Nifty Pharma index, down 0.6 percent, leading the list of losers. Six firms, including Eveready, are scheduled to report their March quarter earnings today.

India bans 59 Chinese mobile apps on security threat

India bans 59 Chinese mobile apps on security threat

Tuesday, June 30, 2020

India has banned 59 Chinese mobile apps, including the popular SHAREit, TikTok, UC Browser, and SHEIN, citing them to be a security threat. The government invoked its powers under Section 69A of the Information Technology Act and relevant provisions under IT Rules 2009 to block these apps, the Ministry of Electronics and Information Technology (MeitY) said on Monday. The move comes in the backdrop of stand-off along the Line of Actual Control in Ladakh with Chinese troops. The ministry said it had received complaints about the misuse of some mobile apps available on the Android and iOS platforms “for stealing and surreptitiously transmitting user data” in an unauthorized manner to servers located outside India. The Indian Cyber Crime Coordination Centre and the Home Ministry, who had had earlier sent an exhaustive recommendation on the apps to be blocked, were consulted on this issue, the Ministry statement said. Read more

MARKET UPDATE: Sensex gained 180 points to hover around 35,120; Nifty testing the 10,400 mark

MARKET UPDATE: Sensex gained 180 points to hover around 35,120; Nifty testing the 10,400 mark

Tuesday, June 30, 2020

The equity market in India rose over half a percent today (30th June 2020), mirroring the trend in most Asian markets. The S&P BSE Sensex gained 180 points to hover around 35,120 levels and the Nifty50 index was testing the 10,400 marks. Among individual stocks, Tata Steel climbed over 4 percent after the announcement of its March quarter results. The stock was the top Sensex gainer in the initial deals. Besides, IndusInd Bank, Axis Bank, and Bajaj Finance (all up 1%) were the other top gainers. The trend among Nifty sectoral indices was mixed, with the Nifty Auto index, up over 1 percent, leading the list of gainers. Five hundred and ninety-six companies including, Vodafone Idea, ONGC, and Sail, are scheduled to announce their March quarter earnings today.

MARKET UPDATE:Sensex slipped 240 points to 34,850-mark and Nifty slipped below the 10,300 mark

MARKET UPDATE:Sensex slipped 240 points to 34,850-mark and Nifty slipped below the 10,300 mark

Monday, June 29, 2020

Equity markets in India dipped over half a percent today (29th June 2020), in line with the trends in other Asian markets. The Standard and Poor’s warning that the Indian economy is in deep trouble also weighed on investor sentiment. The rater has projected the Indian economy's growth to contract by 5 percent this fiscal. The headline index S&P BSE Sensex slipped 240 points to 34,850-mark and the broader Nifty50 index slipped below the 10,300 marks. Among individual stocks, Axis Bank, IndusInd Bank, and Bajaj Finance all slid over 3 percent each. Notably, S&P had downgraded the ratings of both Axis Bank and Bajaj Finance during the weekend. On the other hand, shares of ITC rose as much as 4 percent after the announcement of its March quarter results. The trend among Nifty sectoral indices was largely negative, led by the Nifty Bank index, down 1.9 percent. On the other hand, the Nifty Pharma index was up 1 percent. Read more

MARKET UPDATE:Sensex rose 250 points to 35,114 levels, and Nifty testing the 10,400-mark

MARKET UPDATE:Sensex rose 250 points to 35,114 levels, and Nifty testing the 10,400-mark

Friday, June 26, 2020

The equity markets in India were trading nearly a percent higher today 26th June 2020), in line with the trend in other Asian markets. The S&P BSE Sensex rose 250 points to 35,114 levels, and the Nifty50 index was testing the 10,400-mark. IndusInd Bank (up 4%) and Infosys (up 2%) were the top Sensex gainers. ITC was also trading 2 percent higher ahead of its March quarter results. The trend among Nifty sectoral indices was positive, led by the Nifty PSU Bank index, up 1.7 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes gained over 0.8 percent. Two hundred forty-seven companies, including ITC, Coal India, and Glenmark Pharma are scheduled to announce their March quarter earnings. According to analysts, ITC is expected to post up to 14 percent decline in its cigarette volumes due to hike in excise duty and Covid-19 induced lockdown.

MARKET UPDATE: Sensex dips 350 points at 34,520 levels, and the Nifty slips below 10,250-mark

MARKET UPDATE: Sensex dips 350 points at 34,520 levels, and the Nifty slips below 10,250-mark

Thursday, June 25, 2020

The equity markets in India dipped nearly 1 percent today(25th June 2020) after the International Monetary Fund (IMF) projected a sharp contraction of 4.5 percent in India's GDP in FY21. The S&P BSE Sensex hovered at 34,520 levels, down 350 levels, and the Nifty50 index gave up 10,250-mark. IndusInd Bank (down 4%) was the top Sensex loser, followed by Axis Bank, Bajaj Finance, and ICICI Bank (all down 2%). One hundred and forty-seven companies, including Apollo Hospitals, Ashok Leyland, and Bank of India are scheduled to announce their quarterly results today.

MARKRT UPDATE : Sensex up 241 points at 35,670 levels and the Nifty at 10,500 level

MARKRT UPDATE : Sensex up 241 points at 35,670 levels and the Nifty at 10,500 level

Wednesday, June 24, 2020

indices rose over half a percent today(24th June 2020). The S&P BSE Sensex gained 241 points at 35,670 levels and the Nifty50 index reclaimed the psychological level of 10,500. Asian Paints climbed over 3 percent post its March quarter results announcement and were the top Sensex gainer. Besides, Bajaj Finance and ITC also rose 2 percent each. On the other hand, HCL Tech dipped 1.2 percent. Bank of Baroda shot up 9 percent in opening deals after reporting a profit of Rs 507 crore in the March quarter of FY20 (Q4FY20). The trend among Nifty sectoral indices, except Nifty Realty index, was positive, led by the Nifty PSU Bank index, up 1.3 percent. The broader market was performing marginally better than the benchmarks. Both the S&P BSE MidCap and SmallCap index were trading 0.4 percent higher. Eighty-five companies, including the likes of Canara Bank, Indian Oil Corporation, GAIL, and India Cements, are scheduled to announce their March quarter earnings.

MARKET UPDATE:Sensex up 134 points at 35,045 and Nifty gained 50 points to 10,361

MARKET UPDATE:Sensex up 134 points at 35,045 and Nifty gained 50 points to 10,361

Tuesday, June 23, 2020

Bulls were in no mood to lose control of Dalal Street as domestic benchmark indices opened higher, on track to extend their gains to the fourth session today(23rd June 2020) following the global trend inequities. Today at 9.20 AM Sensex was up 134 points or 0.38 percent at 35,045 while NSE benchmark Nifty gained 50 points or 0.49 percent to 10,361. Metal, PSU banks, and auto stocks were in demand while IT stocks were under selling pressure. In the 30-share pack Sensex, IndusInd Bank was the biggest gainer, up 3.65 percent at Rs 507.75, followed by Bajaj twins, Axis Bank, Bajaj Auto, SBI, Maruti Suzuki and Tata Steel that gained in the range of 1-3 percent. All the Nifty sectoral indices, except Nifty IT, were trading higher, led by Nifty PSU Bank index, up 3 percent. Broader indices continued to outperform the benchmarks. The S&P BSE MidCap and SmallCap indexes were up 1 percent and 0.84 percent, respectively. Read more

MARKET UPDATE:BSE reclaimed the 35,000 level and the Nifty topped 10,300-mark

MARKET UPDATE:BSE reclaimed the 35,000 level and the Nifty topped 10,300-mark

Monday, June 22, 2020

Equity markets in India were rose over a percent in today's (22nd June 2020) morning deals, lifted by pharma and bank stocks. The S&P BSE Sensex gained 400 points and reclaimed the 35,000 level and the Nifty50 index also topped 10,300-mark. Bajaj twins (Bajaj Finserv, Bajaj Finance) both shot up 5 percent each and were the top Sensex gainers. Besides, IndusInd Bank and Bajaj Auto also rose over 2 percent each. Reliance Industries climbed another 2 percent and hit $150 billion m-capitalisation. Among other stocks, Glenmark Pharmaceuticals surged 15 percent to Rs 470.45 after it became the first Indian company to secure drug regulator’s nod on manufacturing and marketing the antiviral drug, Favipiravir in India. The trend among Nifty sectoral indices was all green, except the Nifty IT index, led by the Nifty Pharma index, up 1.8 percent. Read more

India-China standoff at Ladakh-why?

India-China standoff at Ladakh-why?

Saturday, June 20, 2020

Indian and Chinese armies witnessed a violent clash that led to the death of 20 Indian Army personnel. Why is it that the Chinese have chosen to make Ladakh a flashpoint, especially now? The answer lies in the strategic advantage offered by Ladakh. As reported by Economic Times, Chinese troops have intruded up to 3 km in the Galwan area and are dominating the heights that threaten the strategic Darbuk-Shyok-Daulat Beg Oldie (DSDBO) road. Colonel Bhat (retired) says that the intention of the Chinese could possibly be to attempt and capture the entire Galwan valley and its confluence point with the Shyok river, along which the Indian road runs. Read more

MARKET UPDATE:Sensex up 40 points at 34,240 levels and Nifty hovered around 10,100-mark

MARKET UPDATE:Sensex up 40 points at 34,240 levels and Nifty hovered around 10,100-mark

Friday, June 19, 2020

The equity markets in India were trading flat with a positive bias today (19th June 2020), in line with the trends in most Asian indices. The S&P BSE Sensex was up 40 points at 34,240 levels and the Nifty50 index hovered around 10,100-mark. Bajaj Finance, up 4 percent, and ONGC, up 2 percent, were the top gainers in the Sensex pack. Reliance Industries scaled a new lifetime high of Rs 1,684 on the BSE after group chairman Mukesh Ambani said the conglomerate was now net debt-free after recent investments in its digital arm. He also said that RIL will list two group companies in five years. The trend among the Nifty sectoral indices was largely positive, led by the Nifty PSU Bank index, up 1.2 percent. In the broader market, the S&P BSE MidCap index and the SmallCap index climbed 0.6 percent and 1 percent, respectively. Read more

India's sovereign rating outlook from stable to negative: Fitch ratings

India's sovereign rating outlook from stable to negative: Fitch ratings

Thursday, June 18, 2020

The outlook on India's sovereign ratings has been revised to negative from stable but retained the ratings at the lowest investment grade by the Fitch Ratings. Earlier, S & P's retained the ratings and outlook on India while Moody's Investors Service downgraded the ratings but maintained the outlook. Fitch expects economic activity to contract by five percent in the current financial year from the strict lockdown measures imposed since 25 March 2020, before rebounding by 9.5 percent during the next year. The rebound will mainly be driven by a low-base effect. Read more

MARKET UPDATE:Sensex dipped 55 points to 33,450 levels and the Nifty hovered around 9,870

MARKET UPDATE:Sensex dipped 55 points to 33,450 levels and the Nifty hovered around 9,870

Thursday, June 18, 2020

Today (18th June 2020)in Indian markets benchmark indices were trading flat with a negative bias as market participants remained cautious ahead of the Supreme Court hearing on adjusted gross revenue (AGR) case. The ongoing India-China border tensions also kept investor sentiment in check. The S&P BSE Sensex dipped 55 points to 33,450 levels and the Nifty50 index hovered around 9,870. ONGC (down 2%) was the top Sensex loser while Infosys was up 1 percent. Among individual stocks, Muthoot Finance surged over 9 percent to Rs 1,095 after declaring its March quarter results. The trend among sectoral indices was mixed, with the Nifty Bank index trading 0.4 percent lower. In comparison, the broader market outperformed the benchmarks. The S&P BSE MidCap and SmallCap indexes were trading 0.6 and 0.8 percent higher, respectively. Fifty-seven companies, including Bajaj Consumer Care, Whirlpool, and Care Ratings are scheduled to announce their results today.

Billionaire Radhakishan Damani Considers Taking Control of India Cements

Billionaire Radhakishan Damani Considers Taking Control of India Cements

Wednesday, June 17, 2020

Shares of India Cements rallied over 10.6 per cent to Rs 139.30 apiece in early trade on Wednesday nearing its 52-week high of Rs 140, touched on May 26, 2020, after reports that ace investor Radhakishan Damani is considering acquiring a controlling stake in India Cements Ltd. The stock has rallied 74 per cent from its March lows and gained 95 per cent so far in 2020. Damani, the owner of Avenue Supermarts Ltd., has informally reached out to the cement manufacturer’s controlling shareholder, N. Srinivasan, to explore a takeover.N Srinivasan and other promoters held 28.26 % equity stake in the cement maker, while Radhakishan S Damani family has 19.89 per cent shareholding in the company as of March 2020. Radhakishan S Damani held 4.73 per cent in India Cements as of December 2019, which has gone up to 10.29 per cent, while his brother Gopikishan Shivkishan Damani owned 8.26 per cent on March 31, 2020. Company will announce its results for the year ended March 31 20, on June 24th.

MARKET UPDATE: Sensex erases early losses, jumps 80 points; Nifty tops 9,900

MARKET UPDATE: Sensex erases early losses, jumps 80 points; Nifty tops 9,900

Wednesday, June 17, 2020

Equity markets in India were trading with slim gains after erasing all of the opening losses today (17th June 2020). The S&P BSE Sensex was trading around 33,630 level, up 80 points and the Nifty50 index reclaimed the 9,990-mark. Maruti Suzuki India (up 2%) was the top Sensex gainer, followed by Tech Mahindra and Tata Steel (both up 1%). Powergrid (down 2%) dragged the most. The trend among Nifty sectoral indices was mixed, with the Nifty PSU Bank index, down 1.3 percent, bleeding the most. The broader market fared better than the benchmarks. The S&P BSE MidCap and SmallCap indexes were up over 0.5 percent each. Forty-six companies, including Indraprastha Gas Ltd, JK Cement, and Pidilite Industries, are scheduled to report their March quarter results today.

MARKET UPDATE:Sensex zooms 650 pts, Nifty tops 10k

MARKET UPDATE:Sensex zooms 650 pts, Nifty tops 10k

Tuesday, June 16, 2020

In the Indian equity market today (16th June 2020) Benchmark indices were trading 2 percent higher on the back of an overnight rally in global markets. The S&P BSE Sensex surged 650 points to 33,920 levels and the Nifty50 index topped the 10,000 level. All the constituents of the Sensex were trading in the green. ICICI Bank and Bajaj Finance (both up 4%) were the top index gainers. All the Nifty sectoral indices were in the green as well, led by the Nifty Bank index, up 3.3 percent. Twenty-five companies, including HPCL, NMDC, and Ipca Labs are scheduled to report their March quarter earnings.

MARKET UPDATE:Sensex dipped 320 points to 33,460 levels and Nifty at around 9,900 mark

MARKET UPDATE:Sensex dipped 320 points to 33,460 levels and Nifty at around 9,900 mark

Monday, June 15, 2020

The equity markets in India today were trading with half a percent cuts, in line with trends in other Asian markets. The S&P BSE Sensex dipped 320 points to 33,460 levels and the Nifty50 index gave up around 9,900 marks. Tata Steel and IndusInd Bank (both down 3%) were the top Sensex laggards while Infosys and Sun Pharma gained 1 percent each. The trends in Nifty sectoral indices were mixed with the Nifty Bank index, down 2 percent, leading the losses. Fifty-six companies are scheduled to report their numbers including Ashoka Buildcon, JK Tyre, Pfizer, and Tata Motors.

MARKET UPDATE:Sensex down 786 points at 32,750 levels and NIfty hovered around 9,670 levels

MARKET UPDATE:Sensex down 786 points at 32,750 levels and NIfty hovered around 9,670 levels

Friday, June 12, 2020

Today (12th June 2020) in Indian Markets benchmark indices are trading over 2 percent lower tracking a huge plunge on Wall Street and weakness in Asian markets. Among individual stocks, S&P BSE Sensex was trading 786 points lower at 32,750 levels and the NIfty50 index hovered around 9,670 levels. IndusInd Bank (down 6 percent) bled the most in the Sensex pack, followed by ONGC and Kotak Mahindra Bank (both down 4 percent). The trend among Nifty sectoral indices was firmly in red, led by the Nifty Bank index, down 3.8 percent. Thirty companies including Mahindra & Mahindra and Eicher Motor are scheduled to announce their results today.

MARKET UPDATE:Indices off lows, Sensex in the red;Nifty around 10,090 mark

MARKET UPDATE:Indices off lows, Sensex in the red;Nifty around 10,090 mark

Thursday, June 11, 2020

The equity markets in India clawed their way off the opening lows but were still trading with nearly half a percent cut today(11th June 2020) amid weakness in global stocks after the US Fed's latest policy statement in which it reassured investors of its support for the economy but projected a 6.5 percent decline in US GDP this year. The S&P BSE Sensex dipped 80 points at 34,150 levels and the Nifty50 index hovered around 10,090 marks. Sun Pharma (down 3%) was the top Sensex laggard, followed by HDFC Bank and Kotak Mahindra Bank (both down over 1%). On the other hand, IndusInd Bank rose 5 percent. The trend among Nifty sectoral indices was mixed. Nifty PSU Bank index, up over 1 percent was the top gainer. Twenty-three companies including Dixon Tech, Shriram City, Union Finance are scheduled to announce their March quarter results today.

MARKET UPDATE:Sensex up 250 points at 34,200 levels,Nifty trading around 10,120 levels

MARKET UPDATE:Sensex up 250 points at 34,200 levels,Nifty trading around 10,120 levels

Wednesday, June 10, 2020

Indian equity indices were trading over half a percent higher today (9th June 2020), propped up by financials and bank stocks. The S&P BSE Sensex hovered around 34,200 levels, up 250 points while the Nifty50 index was trading around 10,120 levels. HDF and HCL Tech (both up 1%) were the top Sensex gainers. On the other hand, Tata Steel and Hero MotoCorp slipped 2 percent each and were the top laggards in the index. The Nifty sectoral trend was mixed, with the Nifty Bank index, up 1.2 percent, being the lead gainer. Twenty-four companies including Shriram Transport Finance, Tanla Solutions, Century Textiles are scheduled to announce their March quarter numbers.

MARKET UPDATE:Sensex surged 546 points to 34,830 levels and Nifty topped 10,300-mark

MARKET UPDATE:Sensex surged 546 points to 34,830 levels and Nifty topped 10,300-mark

Monday, June 8, 2020

Equity markets were trading firm today(8th June 2020), in line with trends in other Asian markets, lifted primarily by banks and metals. The S&P BSE Sensex surged 546 points, or 1.83 percent, to 34,830 levels and the Nifty50 index topped 10,300-mark. IndusInd Bank gained 6 percent and Axis Bank shot up 5 percent. Besides, Reliance Industries gained over 2 percent and hit a new lifetime high of Rs 1,624 on the BSE after the conglomerate announced a 1.16 percent stake sale in Jio Platforms to Abu Dhabi Investment Authority. All the Nifty sectoral indices, except the Nifty Pharma index, were trading in the green, led by the Nifty Bank index, up 3.3 percent. Nineteen companies, including Titan, PVR, and Abbot India are scheduled to announce their March quarter results. Read more

Make in India: Samsung, Foxconn, Lava likely to apply for PLI scheme

Make in India: Samsung, Foxconn, Lava likely to apply for PLI scheme

Thursday, June 4, 2020

About seven global and Indian companies are expected to seek benefits under the Centre’s production-linked incentive (PLI) scheme, aimed at making India a global hub for mobile device exports. Under the scheme, which was formally announced on Tuesday, prospective companies have to apply by July 31. The government will offer the scheme to five global and domestic entities. However, if there are more than five applications, eligibility will be decided by the ranking of companies based on their global consolidated revenues in the base year. According to sources, global players that are likely to apply for the scheme include Foxconn, Wistron (both of which manufacture mobile devices for Apple), South Korean major Samsung, and US’s electronic manufacturing services giant Flextronics. Lava International and Micromax are among the home-grown players.

MARKET UPDATE:Sensex gains 126 points, Nifty nears 10,100

MARKET UPDATE:Sensex gains 126 points, Nifty nears 10,100

Thursday, June 4, 2020

Equities in the Indian market were fluctuating between gains on losses in today's(4th June 2020) early deals ahead of the F&O (futures & options) weekly expiry. Among headline indices, the S&P BSE Sensex hovered around 34,000 levels and the Nifty50 slipped below the 10,100-mark. Tech Mahindra (up 2%) was the top Sensex gainer. Besides, HDFC Bank and ICICI Bank gained 1 percent each. On the other hand, Titan dipped 3 percent. HDFC Life Insurance rose as much a 4 percent on the BSE post block deals. Aurobindo Pharma also shot up 4 percent after reporting a 32 percent jump in its Q4 net profit. On the other hand, Bharat Petroleum Corporation (BPCL) fluctuated after announcing its March quarter results. The trend among Nifty sectoral indices was all-green, led by the Nifty PSU Bank index, up 1.9 percent. Fifteen companies including DLF, PI Industries, and SRF are scheduled to announce their March quarter results today.

MARKET UPDATE:Sensex gains 500 pts, Nifty reclaims 10,100

MARKET UPDATE:Sensex gains 500 pts, Nifty reclaims 10,100

Wednesday, June 3, 2020

Equity markets in India were trading firm today(3rd June 2020), in line with trends in Asian counterparts, with banks, autos, and metal stocks contributing the most. The S&P BSE Sensex breached the 34,000-mark and was trading 515 points higher at 34,300 levels. The Nifty50 index also reclaimed the psychological level of 10,000 -- the first time since March 13 -- and was hovering around 10,140-mark. Bajaj Finance and ICICI Bank (both up 4%) were the top Sensex gainers. Besides, Britannia Industries surged 6 percent after its consolidated Q4 net profit rose 26.5 percent YoY to Rs 372.35 crore helped by a lower tax outgo. InterGlobe Aviation also zoomed 6 percent post its March quarter results. All the Nifty sectoral indices were in the green, led by the Nifty Bank index, up 3 percent. Fifteen companies including Aurobindo Pharma, BPCL, and Cholamandalam Investment are scheduled to announce their March quarter results today.

Five states leading Indian economy to recovery

Five states leading Indian economy to recovery

Tuesday, June 2, 2020

Five Indian states contributing nearly 27% of the country’s gross domestic product are leading a recovery in the economy as it slowly emerges from the world’s biggest lockdown, a study shows. Kerala, Punjab, Tamil Nadu, Haryana, and Karnataka have seen a pickup in activity, based on an analysis of indicators such as power consumption, traffic movement, the arrival of farm products at wholesale markets and Google mobility data, etc. Some of the most industrialized states such as Maharashtra and Gujarat were trailing because of tough measures still in place to contain the Covid-19 pandemic, the study showed. India will begin a phased lifting of the nationwide lockdown from June 8, allowing shopping malls, restaurants, and places of worship to reopen in areas where virus infections are under control. Read more

Stock investors ignore Moody’s India’s downgraded rating

Stock investors ignore Moody’s India’s downgraded rating

Tuesday, June 2, 2020

International rating agency Moody’s downgraded India’s sovereign rating by a notch to Baa3 from Baa2 with a negative outlook over a weak reform push contributing to a prolonged period of slow growth that it expects to continue beyond the Covid-19 pandemic. Downgrade by Moody’s was expected, and it is unlikely to unsettle the markets in a major way on Tuesday, said, experts. Finance ministry downplayed the demotion to the lowest investment grade, pointing out that “35 countries have been downgraded — this is their view”. But there can be some kneejerk reaction in the spot markets, which the Reserve Bank of India (RBI) can take care of. “It was expected that Moody’s would align back India’s rating with the other two rating agencies (Fitch and S&P). India continues to remain investment grade, and this downgrade should not materially impact the markets,” said experts. Read more

MARKET UPDATE: Sensex up by 328 pointsat 33,630 levels, and the Nifty at 9,900 levels

MARKET UPDATE: Sensex up by 328 pointsat 33,630 levels, and the Nifty at 9,900 levels

Tuesday, June 2, 2020

The equity markets in India were trading firm, a percent higher each, today(2nd June 2020), lifted mainly by auto, and pharma stocks. The S&P BSE Sensex was up 328 points, or 1 percent, at 33,630 levels, and the Nifty50 index conquered the psychological mark of 9,900. Kotak Mahindra Bank (up 4 percent) was the top Sensex gainer, followed by Mahindra & Mahindra and Bajaj Finance (both up 3 percent each). All the Nifty sectoral indices were trading in the green, led by Nifty Auto and Nifty Pharma indexes, both up over 1 percent. Eighteen companies, including the likes of Britannia, Indigo, and Motherson Sumi, are scheduled to announce their results today which will induce individual stock reactions. Read more

MARKET UPDATE: Sensex zoomed 900 points to 33,300, and Nifty topped at 9,800 levels

MARKET UPDATE: Sensex zoomed 900 points to 33,300, and Nifty topped at 9,800 levels

Monday, June 1, 2020

Equity markets in India shot up over 2 percent each today (1st June 2020), in line with other Asian markets, after the government eased curbs on most economic activities even as the lockdown in containment zones was extended till June 30. The S&P BSE Sensex zoomed 900 points, or 2.7 percent, to 33,300, and the Nifty50 index was topped 9,800 levels. Axis Bank and Tata Steel (both up 6%) were the top Sensex gainers. Besides, Bajaj Finance and IndusInd Bank also rose 4 percent each. All the Nifty sectoral indices were in the green, led by the Nifty Metal index, up 4 percent. Nifty Bank index also rose over 3 percent. Twelve companies, including V-Guard Industries and Orient Electric, are scheduled to announce their March quarter results.

India Unlock 1.0 begins: Hotels, malls, places of worship to open from June 8

India Unlock 1.0 begins: Hotels, malls, places of worship to open from June 8

Sunday, May 31, 2020

The Centre on 30th May eased the lockdown curbs significantly while announcing ‘’unlock 1’’ with an “economic focus”. With this, the Centre has outlined a plan to reopen nearly all activities outside of containment zones starting Monday,1st June. Places of worship, hotels, restaurants and malls can resume business by June 8, it has said. Coinciding with this, some states have extended the lockdown for 15 to 30 days. For areas in containment zones, the Centre has extended the lockdown till June 30. It’s up to the local authorities to demarcate containment and buffer zones. With lockdown 4.0 ending today (31st May), the Centre has issued detailed guidelines for phased reopening of all prohibited activities. Amid state governments imposing restrictions on inter-state travel, the Centre has suggested that there will be unrestricted inter-state and intra-state movement of people and goods. Read more

India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%

India's economic growth falls for a third successive year, fiscal deficit widens to 4.6%

Saturday, May 30, 2020

The central govt has officially admitted that the fiscal deficit last year was as large as 4.6 percent of gross domestic product (GDP), much wider than the 3.8 percent provided in the Budget presented in February earlier this year. On the economy front, the provisional estimates released on Friday showed that the rate of growth in India’s GDP fell steeply to 4.2 percent in 2019-20 from 6.1 percent in 2018-19. Look at it another way, the rate of growth for India’s GDP has more than halved in just three years – from 8.2 percent recorded in 2016-17, the year of demonetization. There was no respite in 2017-18, either, when the GDP grew by only 7 percent. Read more

MARKET UPDATE: Sensex at 31,990 levels and the Nifty gave up the 9,450 mark amid weak global cues

MARKET UPDATE: Sensex at 31,990 levels and the Nifty gave up the 9,450 mark amid weak global cues

Friday, May 29, 2020

The Indian markets dipped 1/2 percent on Friday, tracking weakness in global markets amid escalating US-China tensions, and ahead of the release of GDP data for January-March quarter of 2019-20 (Q4FY20). The numbers, which are likely to come in post-market hours, are expected to show growth contracting with some analysts penciling in a 5 percent dip. The S&P BSE Sensex slipped 207 points to 31,990 levels and the Nifty50 gave up the 9,450 marks. Infosys and Axis Bank (both down 2%) were the top Sensex laggards. On the other hand, Vodafone Idea surged 10 percent on a report that Google is in talks to buy a 5 percent stake in the company. The Nifty sectoral indices were largely in the red, led by Nifty Bank index, down 1.2 percent. On the other hand, Nifty Pharma was up over 1 percent. Thirty-one companies including Voltas, Jubilant Life Sciences, and Metropolis Healthcare, are scheduled to announce their March quarter results today.

MARKET UPDATE: Sensex gains 300 points, Nifty tops 9,400

MARKET UPDATE: Sensex gains 300 points, Nifty tops 9,400

Thursday, May 28, 2020

Markets in India were trading over one percent higher today, in line with other Asian markets, ahead of the expiry of futures and options contracts of May series. The S&P BSE Sensex jumped 350 points, or 1.12 percent, at 31,960 levels and the Nifty50 index reclaimed the 9,400 levels. Larsen & Tubro and ONGC (both up 3 percent) were the top Sensex gainers. Besides, the HDFC twins also inched 2 percent higher and contributed majorly to the index's up move. The trend among Nifty sectoral indices was largely green, led by the Nifty Private Bank index, up 1.8 percent. Twentyfour companies, including TVS Motor, Lupin, and Federal Bank, are scheduled to announce their March quarter results today.

India Faces Another Plague as Locusts Swarm

India Faces Another Plague as Locusts Swarm

Thursday, May 28, 2020

Swarms of locusts entered Uttar Pradesh's Jhansi district yesterday (27th May 2020) after damaging crops in Rajasthan and MP. It could head towards Maharashtra's Ramtek city amid what is being described as the worst attack in 26 years. Punjab, usually unaffected by the menace, is also gearing up for the possibility of a locust attack. "It is not a new problem and we had been facing it for a long time. This year, the locusts' attack is the worst in 26 years,” an official at the Faridabad-based Locust Warning Organisation (LWO) told PTI. According to the Union agriculture ministry, 21 districts in Rajasthan, 18 in Madhya Pradesh, two in Gujarat and one in Punjab have undertaken locust control measures till now. Rajasthan on Wednesday deployed a drone to spray pesticide on locusts in Jaipur district's Samod area and the Union minister said it too is acquiring the machines. The LWO official said there is a coordinated effort to contain the locust spread.

Fitch ratings, CRISIL, and SBI Research cut India’s economic growth forecast

Fitch ratings, CRISIL, and SBI Research cut India’s economic growth forecast

Wednesday, May 27, 2020

Fitch Ratings, CRISIL, and SBI Research have drastically cut India’s economic growth forecast in the current fiscal year due to a prolonged lockdown. While both Fitch and CRISIL projected the economy to contract 5 percent, from their earlier estimates of the economic growth at 0.8 percent and 1.8 percent, respectively, SBI Research slashed economic contraction to 6.8 percent from earlier 4.7 percent. CRISIL said it expected the current quarter’s GDP to shrink 25 percent year on year. In its latest report, CRISIL said it would really be a long road to recovery, and going back to the pre-COVID-19 trend level of gross domestic product (GDP) in India will not be possible for the next three fiscal years. The lockdown extension, higher economic costs, and an economic package that lacked muscle are the three key reasons why CRISIL has downgraded the GDP forecast

MARKET UPDATE: Sensex erases opening gains, slips in the red

MARKET UPDATE: Sensex erases opening gains, slips in the red

Wednesday, May 27, 2020

Indian markets quickly pared all the gains after a cautious start today (27th May 2020). The S&P BSE Sensex hovered around 30,600 levels and the Nifty50 index traded around 9,030 zones. Kotak Mahindra Bank was the top Sensex gainer, followed by ICICI Bank. On the other hand, Titan and Mahindra & Mahindra were the top laggards. The Nifty sectoral indices were mixed with the Nifty Bank index, up over 1 percent, logging the highest gains. Twenty-two companies, including Dabur India, Sun Pharma, and United Spirits are scheduled to announce their results.

MARKET UPDATE: Sensex jumps 330 points Nifty tops 9,100

MARKET UPDATE: Sensex jumps 330 points Nifty tops 9,100

Tuesday, May 26, 2020

Markets in India rose 1 percent, propped up by the HDFC twins, as trading resumed today (26th May 2020) after an extended weekend. The S&P BSE Sensex hovered near 31,000 levels, up 320 points. The Nifty50 index also surpassed 9,100 levels. ITC, up 4 percent, was the top Sensex gainer and HDFC Bank also ticked up 2 percent. among others, HDFC shot up 2 percent after reporting its March quarter results yesterday. Bharti Airtel, on the other hand, declined 4 percent on reports that its promoter Bharti Telecom was planning to raise $1 billion by selling a small stake in the telecom giant through block deals on the stock exchanges today. A majority of the Nifty sectoral indices were in the green, led by the Nifty Metal index, up 2 percent. Nineteen companies including Deepak Nitrate, Max Financial, and Torrent Pharma are scheduled to announce their March quarter results today.

Global supply chain being reconfigured : India must smartly restructure its economy

Global supply chain being reconfigured : India must smartly restructure its economy

Tuesday, May 26, 2020

Covid-19 has changed the collective calculation of uncertainty, experts feel now. It is more global in scope, more profoundly impactful, and much more complex than any crisis that countries and companies have ever experienced. Now it is required to confront the uncertainty head-on and build it into decision-making. The recent announcements of Govt of India to revive and restructure India’s economy, with multiple policies that will find common cause with another fallout of the contagion — possible reconfiguring of the global supply chain by multinationals. Read more

MARKET UPDATE: Sensex rises to 30,410 levels and the Nifty 8,960 levels

MARKET UPDATE: Sensex rises to 30,410 levels and the Nifty 8,960 levels

Wednesday, May 20, 2020

Equity markets in India were trading firm today (20th May 2020), lifted mainly by the HDFC twins. The S&P BSE Sensex rose 216 points to 30,410 levels and the Nifty50 index traded around 8,960 levels. ITC, up 2 percent, was the top gainer in the Sensex pack. Besides, HDFC and HDFC Bank were both up 1 percent each. IRCTC surged 5 percent after the Indian Railways decided to double the number of Shramik special trains to 400 a day by this week. Besides, Bajaj Finance rose 2 percent after announcing its March quarter earnings. The trend among Nifty sectoral indices was largely positive, led by the Nifty FMCG index, up 1.25 percent. Twenty two companies including Bajaj Auto, Dr Reddy's Laboratories, UltraTech Cement, and Jubilant FoodWorks, are scheduled to announce their March quarter earnings today.

MARKET UPDATE: Sensex at 30,550 and the Nifty around 8,970 levels

MARKET UPDATE: Sensex at 30,550 and the Nifty around 8,970 levels

Tuesday, May 19, 2020

Indian markets tracked the other Asian markets and advanced today (19th May 2020), propped up by HDFC twins and Bharti Airtel. The S&P BSE Sensex jumped 527 points, or 1.75 percent, to 30,550 levels and the Nifty50 index hovered around 8,970 levels. ONGC, up 6 percent, was the top Sensex gainer. Besides, Bharti Airtel surged 10 percent post its March quarter results to hit a new lifetime high, while HDFC also rose over 4 percent. Nifty sectoral trends remained largely positive, led by the Nifty Financial Services index, up 1.6 percent. In the broader market, the S&P BSE MidCap and SmallCap indexes were up half a percent each. Today, 18 companies, including Bajaj Finance, Apollo Tyre, and Ujjivan Small Finance Bank, are scheduled to announce their March quarter earnings.

MARKET UPDATE: Indices in red,Sensex around 31,100 levels and the Nifty below 9,150

MARKET UPDATE: Indices in red,Sensex around 31,100 levels and the Nifty below 9,150

Friday, May 15, 2020

Markets in India declined in today's (15th May 2020) early deals, pulled down by auto and bank stocks, amid mixed global cues. The S&P BSE Sensex hovered around 31,100 levels and the Nifty50 index was below 9,150. Mahindra & Mahindra (down 2%) and ITC (down 1%) were the top Sensex losers while ONGC gained 2 percent. Biocon dipped 2 percent after its Q4 net profit declined 42.2 percent to Rs 123 crore on a y-o-y basis. The trend among Nifty sectoral indices was largely negative, led by the Nifty Auto index, down 0.8 percent. Today,12 companies including Cipla, Aarti Drugs, and M&M Finance are scheduled to announce their results

MARKET UPDATE:Sensex tumbles 400 points, Nifty below 9,300

MARKET UPDATE:Sensex tumbles 400 points, Nifty below 9,300

Thursday, May 14, 2020

Markets in India declined over 1 percent today(14th May 2020), tracking weakness in global markets after Federal Reserve Chairman Jerome Powell warned of extended economic weakness due to the coronavirus pandemic. The S&P BSE Sensex was down 480 points, or 1.5 percent, to 31,500 levels and the Nifty50 index slid below 9,300. Infosys, Tech Mahindra, and Mahindra & Mahindra (all down 3%) were the top Sensex laggards. The Nifty sectoral trend was largely negative, led by the Nifty IT index, down over 2 percent. In comparison, the broader indices fared better. The BSE MidCap index gained 0.3 percent while the SmallCap index was trading 0.2 percent lower. 18 companies including Biocon, Escorts, and Manappuram Finance are scheduled to announce their results today.

MARKET UPDATE: Sensex jumped 630 points to 32,000 levels and the Nifty testing 9,400 levels

MARKET UPDATE: Sensex jumped 630 points to 32,000 levels and the Nifty testing 9,400 levels

Wednesday, May 13, 2020

Equity markets in India were trading firm, up 2 percent, today (13th May 2020) after Prime Minister Narendra Modi announced a Rs 20-trillion stimulus package to jump-start the battered economy, the details of which will be announced through the week. The S&P BSE Sensex jumped 630 points to 32,000 levels and the Nifty50 index was testing 9,400 levels. Maruti Suzuki India gained 6 percent ahead of its March quarter results. Vedanta hit a 10 percent upper circuit after promoter Anil Agarwal announced intention to take the firm private by buying out shares held by the public. All the Nifty sectoral indices were in the green, led by the Nifty Private Bank index, up 5 percent. Maruti Suzuki and nine other firms are slated to report their March quarter results today.

MARKET UPDATE: Sensex gains 600 points, Nifty above 9,400

MARKET UPDATE: Sensex gains 600 points, Nifty above 9,400

Monday, May 11, 2020

Indian markets followed their Asian counterparts and advanced over 1 percent today,11th May 2020 lifted by financials and auto stocks. The S&P BSE Sensex rose 608 points to over 32,200 mark and the Nifty50 index was above 9,400 levels. Among individual stocks, IRCTC rose 5 percent after the government said that 15 sets of trains will be started from tomorrow. Reliance Industries was also up over 2 percent after fixing May 14 as the record date for the rights issue. Besides, IndusInd Bank and Maruti Suzuki were also up 2 percent each. The trend among Nifty sectoral indices was positive, led by the Nifty Auto index, up 2.4 percent. A total of 13 companies, including Godrej Properties, Wockhardt, and Motilal Oswal, are scheduled to announce their March quarter earnings.

India COVID-19 cases near 63,000; death toll at 2,109

India COVID-19 cases near 63,000; death toll at 2,109

Sunday, May 10, 2020

The death toll due to COVID-19 rose to 2,109 and the number of cases climbed to 62,939 in the country today (10th May 2020), registering an increase of 128 deaths and 3,277 cases in the last 24 hours, according to the Union Health Ministry. The number of active COVID-19 cases stood at 41,472, while 19,357 people have recovered and one patient has migrated, the ministry said. The total number of cases also include 111 foreign nationals. Of the 2,109 fatalities, Maharashtra tops the tally with 779 deaths. Gujarat comes second with 472 deaths, followed by Madhya Pradesh at 215, West Bengal at 171, Rajasthan at 106, Uttar Pradesh at 74, Delhi at 73, and Andhra Pradesh and Tamil Nadu at 44. The death toll is 31 in Punjab, 30 each in Karnataka and Telangana. Jammu and Kashmir and Haryana each have registered nine COVID-19 deaths, Bihar five and Kerala four. Read more

Goldman Sachs, Nomura lower FY21 GDP estimate for India

Goldman Sachs, Nomura lower FY21 GDP estimate for India

Friday, May 8, 2020

Goldman Sachs and Nomura (Global research and broking houses) – have sharply cut their economic growth projections for India FY 21 and expect the RBI to cut rates sharply to stem the economic rout caused by the lockdown due to Covid-19 pandemic. Analysts at Goldman Sachs, for instance, expect the Indian economy to contract 0.4 percent in FY21 versus consensus median 2.7 percent following the extension of the nationwide lockdown. In April, they had expected the GDP growth to slip to 1.6 percent in FY21. Read more

MARKET UPDATE:Sensex surges to 31,920 levels and the Nifty to 9,340

MARKET UPDATE:Sensex surges to 31,920 levels and the Nifty to 9,340

Friday, May 8, 2020

The equity markets in India advanced today (8th May 2020) in line with other Asian markets, with RIL and Hindustan Unilever leading the gains. Reliance Industries rose 2 percent after PE firm, Vista Equity Partners, said it will buy a 2.3 percent stake in Jio Platforms for Rs 11,367 crore. Among headline indices, the S&P BSE Sensex surged 476 points to around 31,920 levels and the Nifty50 index was up 132 points to 9,340. IndusInd Bank and Hindustan Unilever (both up 3%) were the top Sensex gainers. All the Nifty sectoral indices were trading in the green, led by Nifty Private Bank index, up 1.7 percent 13 companies, including SBI Cards and Shree Cements, are scheduled to announce their March quarter results today. Besides, ICICI Bank will also be in focus as the private lender will announce the results tomorrow.

Trading at 17-year-old price, Indian PSU bids to draw China factories

Trading at 17-year-old price, Indian PSU bids to draw China factories

Thursday, May 7, 2020

Global multinational companies are looking to shift value chains out of China following the coronavirus-led disruptions, and India, which has so far lagged behind, wants its share of the pie in this big shift. To give 'Make in India' a lift, a domestic PSU firm has called for expression of interest (EOI) from foreign companies, which wish to use its currently idle factories. At Rs 23, shares of BHEL are trading at the lowest level since 2003. This is when the company’s net cash position accounts for 70 percent of its market-capitalisation (m-cap), and the receivable book stands at nearly five times its m-cap at Rs 38,000 crore. Read more

India’s GDP is likely to grow 2 per cent for the full financial year

India’s GDP is likely to grow 2 per cent for the full financial year

Wednesday, May 6, 2020

"India’s gross domestic product (GDP) will contract in the first quarter, but is likely to grow 2% for the full financial year and that a stimulus is expected “soon,” said Chief economic adviser KV Subramanian. But he cautioned against demands for government support similar to that provided by other nations as the cost would be too high. Comparisons with stimulus packages in other countries were invalid, he said. He drew parallels with the Spanish flu pandemic of 1918, suggesting a sharp revival. “From an epidemiological perspective and from the magnitude of the pandemic, the Spanish flu is a reasonable proxy to use and because there was a V-shaped recovery, I think it is reasonable to say that we can expect the same,” Subramanian said.

India readies land pool to lure businesses moving out of China

India readies land pool to lure businesses moving out of China

Tuesday, May 5, 2020

India is developing a land pool nearly double the size of Luxembourg to lure businesses moving out of China, according to some sources A total area of 461,589 hectares has been identified across the country for the purpose, it is said. That includes 115,131 hectares of existing industrial land in states such as Gujarat, Maharashtra, Tamil Nadu, and Andhra Pradesh, the source said. Luxembourg is spread across 243,000 hectares, according to the World Bank. Land has been one of the biggest impediments for companies looking to invest in India. The Central government is working with state governments to change that as investors seek to reduce reliance on China as a manufacturing base in the aftermath of the coronavirus outbreak and the resultant supply disruption.

MARKET UPDATE: Sensex up 200 points, Nifty tops 9,400

MARKET UPDATE: Sensex up 200 points, Nifty tops 9,400

Wednesday, April 29, 2020

The equity market in India made cautious gains today, 29th April 2020 amid mixed global cues. The S&P BSE Sensex was up 240 points, or 0.75 percent, at 32,350 levels. Index heavyweight HDFC surged 5 percent, followed by Bajaj Finance and Tech Mahindra that gained 3 percent each. On the other hand, IndusInd Bank slipped 4 percent. Axis Bank dipped 3 percent after reporting a net loss of Rs 1,388 crore in March quarter results. The majority of the Nifty sectoral indices were in the green, led by the Nifty Financial Services index, up 1.6 percent.

Lockdown exit plan in India will seek to sustain gains

Lockdown exit plan in India will seek to sustain gains

Friday, April 24, 2020

In India, the three-week lockdown imposed on March 25 was extended to May 3 to control the coronavirus outbreak. Now Indian govt. is working on a careful strategy to lift the lockdown without losing the gains that have been achieved through the stringent nationwide shutdown, said a senior government official. The Centre is monitoring various challenges related to the resumption of economic activities on a day-to-day and case-to-case basis, a senior govt. official said. One key obstacle is economic hubs being located in red zones, where the disease needs to be curbed. The Centre has been keeping a close watch on state and district-level administrations and trying to assist them as well as helping businesses to resume operations. The infection numbers are better than initial projections, he said. “The graph is not very alarming on the health side. India is in a much better position than what was predicted by our health authorities,” the official said.

Market update:Sensex tumbles 500 points, pvt banks, financials drag

Market update:Sensex tumbles 500 points, pvt banks, financials drag

Friday, April 24, 2020

India's equity markets slipped over one percent today,24th April 2020 due to weak global cues and dragged by private banks and financials. Among individual stocks, ICICI Bank and Bajaj Finance (both down 4%) were the top laggards while HDFC twins were also down 2 percent each. At the index level, the S&P BSE Sensex was down 505 points, or 1.6 percent, at 31,360 levels and the Nifty50 hovered around 9,200. All the Nifty sectoral indices were in the red, led by Nifty Private Bank and Nifty Financial indexes, both down 3 percent each.

MARKET UPDATE:Indices hold gains, Sensex up 250 pts;all Nifty sectors in the green

MARKET UPDATE:Indices hold gains, Sensex up 250 pts;all Nifty sectors in the green

Thursday, April 23, 2020

Equity markets in India were trading higher today (23rd April 2020) on the back of positive global cues. The S&P BSE Sensex rose 250 points, or 0.8 percent, to 31,630 and the Nity50 index was around 9,270 levels. Among individual stocks, Titan declined 3 percent after Goldman Sachs downgraded the stock to 'sell'. Zee Entertainment, on the other hand, hit 10 percent upper circuit. Kotak Mahindra Bank, up 5 percent, was the top gainer in the Sensex pack. All the Nifty sectors were in the green, led by the Nifty Metal index, up 2.8 percent. Broader indices outperformed the benchmarks with both the S&P BSE MidCap as well as SmallCap indexes up over 2 percent each. In the earnings department, a total of seven companies including Britannia, Bharti Infratel, and Hathway Cable are scheduled to announce their March quarter results today.

MARKET LIVE: Sensex, Nifty open with slim gains

MARKET LIVE: Sensex, Nifty open with slim gains

Thursday, April 23, 2020

Market in India will today react to the rebound in oil prices and global stocks, March quarter earnings, and coronavirus-related newsflow. US crude and Brent futures, both, rose more than 7 percent on Wednesday after touching their lowest levels since 1999 on the prospects for further production cuts. Besides, investors would track the two-day meeting of the economic advisory council which is expected to deliberate on the impact of the COVID-19 pandemic on economic growth in this fiscal year and the next. Read more

MARKET UPDATE: Sensex, Nifty volatile; RIL gains post Jio-Facebook deal

MARKET UPDATE: Sensex, Nifty volatile; RIL gains post Jio-Facebook deal

Wednesday, April 22, 2020

Equity markets in India today (22nd April 2020)fluctuated in early trade as the gains in Reliance Industries were offset by selling in banks and metal stocks amid weak global cues. Shares of Reliance Industries (RIL) gained 7 percent at Rs 1,326 on the BSE after the company announced that Facebook would invest Rs 43,547 crore ($5.7 billion) in the company’s wholly-owned subsidiary Jio Platforms to expand its presence in India. Among headline indices, the S&P BSE Sensex was up 27 points at 30,660 levels and the Nifty50 was hovering around the 9,000 mark. ONGC, down over 7 percent, was the top laggard in the Sensex pack. The Nifty sectoral indices were mixed, with the Nifty Metal index, down 2 percent, leading the list of losers.

Market live:Sensex tanks 1,000 points, Nifty below 9,000; ONGC, IndusInd fall 6% each

Market live:Sensex tanks 1,000 points, Nifty below 9,000; ONGC, IndusInd fall 6% each

Tuesday, April 21, 2020

Equity markets in India plunged today 21st April, following global trends, after US oil prices slipped below $0 a barrel in overnight trade. Further, US President Donald Trump's announcement that he would sign an executive order to temporarily suspend immigration into the US also impacted sentiment. Volatility index, India VIX, spiked 5 percent. Among headline indices, the S&P BSE Sensex slipped 928 points, or 2.93 percent, to 30,720 levels and the Nifty50 index hovered around 9,000 levels. Tata Steel and IndusInd Bank (both down over 7%) were the top laggards in the Sensex pack. Besides, Infosys slipped 2 percent post-March quarter results while oil-related stocks like Reliance Industries (down 4%) were also under pressure. All the Nifty sectoral indices were in the red, led by Nifty Metal index, down 5.8 percent

MARKET update: Sensex surged 1,000 points to to 31,600 levels and Nifty up 280 points around 9,270

MARKET update: Sensex surged 1,000 points to to 31,600 levels and Nifty up 280 points around 9,270

Friday, April 17, 2020

Equity markets in India rose today (, 17th April 2020)tracking firm global cues, ahead of the RBI's announcement of another imminent stimulus package from the government also lifted sentiment. Among headline indices, the S&P BSE Sensex surged 1,000 points, or 3.14 percent, to 31,600 levels. Banks and financials fired the index's rally with IndusInd Bank (up 6%), HDFC, Axis Bank, and Bajaj Finance (all up 5%) being the top gainers. IT giant Tata Consultancy Services (TCS) also jumped 4 percent post the company's March quarter results announcement. The broader Nifty50 index was up 280 points around 9,270 levels. All the Nifty sectoral indices were in the green, led by the Nifty Bank index, up over 4 percent.

MARKET LIVE: Sensex rises as govt eases lockdown rules

MARKET LIVE: Sensex rises as govt eases lockdown rules

Wednesday, April 15, 2020

The equity market in India rose today (15th April 2020), lifted mainly by pharma and FMCG stocks, following positive cues from global indices. That apart, government's move to ease lockdown rules starting April 20 also boosted sentiment. Today the government permitted industries to operate in rural areas, manufacturing to start in Special Economic Zones (workers will have to stay within their premises or in "adjacent buildings"), though the transportation will have to be arranged by employers. Food processing in rural areas will also begin from April 20. Restrictions have also been eased for the construction sector. The S&P BSE Sensex was up 666 points, or 2.1 percent, at 31,380 levels and the Nifty50 index hovered around 9,200 level, up 210 points. Sun Pharma and Larsen & Toubro (both up 4%) were the top gainers in the Sensex pack. Meanwhile, Metropolis Healthcare fell nearly 14 percent after two large trades on the NSE. All the Nifty sectoral indices were in the green, led by Nifty

Indian Equity markets trading firm

Indian Equity markets trading firm

Thursday, April 9, 2020

Equity markets in India are trading firm today (9th March) after Wall Street's overnight rally on the hope that the coronavirus outbreak in the United States was close to a peak. Among headline indices, the S&P BSE Sensex was up 703 points, or 2.4 percent, at 30,620 and the Nifty50 index hovered around 8,970 level, up 224 points, or 2.5 percent. Index heavyweights HDFC, up 5 percent, was the top contributor to the Sensex's gain. Besides, Bajaj Finance, ICICI Bank, Axis Bank, and ONGC were all up over 4 percent. All the Nifty sectoral indices were in the green, led by the Nifty Auto index, up 7 percent. Besides, Nifty Pharma index gained 5 percent. Among the index's components, Cipla (up 15%) and Lupin (up 10%) were the top gainers. The broader market also tracked gains in the main indices. The S&P BSE MidCap and SmallCap indexes were both up over 2.5 percent each.

Market:Sensex slips further, Nifty below 8,200; banks, financials dip

Market:Sensex slips further, Nifty below 8,200; banks, financials dip

Friday, April 3, 2020

Indian equity markets, today (3rd April 2020) continued to slip downwards dragged down by banks and financial stocks, despite a bounce back in crude oil prices and global stocks. The S&P BSE Sensex dipped 253 points, or 0.95 percent, at 28,000 levels and the Nifty50 index was down 105 points, or 1.08 percent, at 8,160 level. Among individual stocks, Kotak Mahindra Bank was again the top loser after slipping 7 percent. Besides, IndusInd Bank dipped another 5 percent while both ICICI Bank and HDFC were down 4 percent each. Nifty Bank and Nifty Financial Services indexes, both down over 3 percent, were the top sectoral losers.

Nifty needs to top and hold 8,550 to confirm bottom

Nifty needs to top and hold 8,550 to confirm bottom

Thursday, March 26, 2020

Indian equity market staged a stellar rebound on Wednesday, 25th March in line with the global markets. The rally, which was fuelled by massive short covering, took Nifty back inside the crucial 7,850-8,550 zone. The market made a shaky start, as the index rapidly pared its opening gains. After that, the 50-stock pack traded in a capped zone but stayed volatile. However, the second half of the session saw the market gaining ground again, as the index finally ended with a gain of 516.80 points or 6.62 percent at 8,317.85. Read more

Indian equity markets fluctuated between gains and losses in a volatile session

Indian equity markets fluctuated between gains and losses in a volatile session

Friday, March 20, 2020

Equity markets fluctuated between gains and losses in a volatile session today,20th March, with index heavyweights HDFC twins and ICICI Bank( down 3 percent) pressuring the indices. HDFC Bank slipped over 7 percent and HDFC was down 4 percent. The S&P BSE Sensex hovered around 28,400 levels, up 247 points, or 0.87 percent. The Nifty50 index was trading 40 points or 0.48 percent, higher at 8,300 levels. The Nifty sectoral indices were trading mixed. While Nifty FMCG and Nifty Pharma indexes traded over 3 percent up each, the Nifty Bank and Nifty Financial Services indexes dipped 3 percent each. In broader markets, the S&P BSE MidCap was up 43 points, or 0.4 percent, and the S&P BSE SmallCap traded flat.

Tuesday 17th March update:Sensex up 500 points, Nifty above 9,300

Tuesday 17th March update:Sensex up 500 points, Nifty above 9,300

Tuesday, March 17, 2020

Indian equity markets recovered after a volatile start on Tuesday with the volatility index, India VIX, surging over 7 percent to a 12-year high level of 63.14. The S&P BSE Sensex was hovering around 31,860 levels, up 487 points, or 1.5 percent after falling as much as 500 points earlier in the session. The Nifty50 index was trading 150 points, or 1.62 percent, higher at 9,340 levels. The majority of the Nifty sectoral indices were trading in the green with the Nifty Metal index, up 3 percent, and Nifty Pharma index, up 2 percent, leading the gains. Among individual stocks, HDFC Bank and HDFC were both down over 1 percent each. On the other hand, YES Bank continued its uptrend and surged another 30 percent to Rs 48. In the broader market, the S&P BSE MidCap index was up 33 points, or 0.28 percent, and the S&P BSE SmallCap index was flat.

Nifty enters bear market, slips below 10,000;Sensex cracks over 2,900 points

Nifty enters bear market, slips below 10,000;Sensex cracks over 2,900 points

Thursday, March 12, 2020

It was a ocean of red for Asian markets at the open. Indian markets opened also on a similar note. Declaration by WHO coronavirus as ‘Pandemic’triggered travel bans globally which sent shock waves across financial and commodity markets. US President Donald Trump's much-awaited speech at Oval Office could not allay investor concerns, as US stock futures tumbled 4 percent early on 12th March(Thursday), in addition to a near 6 percent slide in US stocks overnight, setting up the stage for a terrifying start for domestic indices. In the closing trades, the BSE Sensex cracked 2,919 points i.e. 8.1 percent, to 32,778.14. Nifty50 entered in to bear market, falling over 20 percent from the recent high. Read more

Market crash may force Indian barons to sell their crown jewels

Market crash may force Indian barons to sell their crown jewels

Wednesday, March 11, 2020

India’s cash-strapped barons may have to be ready for more yard sales of their crown jewels as stock volatility and ongoing credit market uncertainty pressure their ability to pay loans.Indian business leaders often take against the backing of their main assets - stakes in their listed firms. The value of such pledged shares has shrunk as the coronavirus outbreak triggered a sell-off globally. That’s placing more pressure on these barons looking to refinance. Founders at 811 Indian companies have pledged shares worth 1.8 trillion rupees ($24.4 billion) as collateral, according to Bombay Stock Exchange data. Read more

India’s crypto currency:What next after the Supreme Court’s judgment

India’s crypto currency:What next after the Supreme Court’s judgment

Sunday, March 8, 2020

On March 6 the Supreme Court of India struck down the Reserve Bank of India’s (RBI) ban on financial institutions providing banking services to cryptocurrency businesses. However, the decision is not final, and embedded in the text of the judgment are multiple red flags. In addition, a draft bill to ban cryptocurrencies, released on Feb. 28, 2019, could still move through Parliament. The partial court victory and the possibility of legislation moving forward mean that crypto’s legal status in India remains vulnerable, experts opined. However the court verdict will reduce friction for crypto startups, attract funding, and boost innovation, the lack of clarity on the legality of the technology can open a new front. Getting a regulator that can set things in motion is a challenge to be addressed soon.

Yes Bank Fiasco-Indian banks are well capitalised, no reason to worry: CEA Subramanian

Yes Bank Fiasco-Indian banks are well capitalised, no reason to worry: CEA Subramanian

Sunday, March 8, 2020

In the wake of Yes Bank fiasco, Chief Economic Adviser Krishnamurthy Subramanian on Sunday said Indian banks are well capitalised and there is no reason to worry. He further said that it is a wrong method to assess a lender's health based on the ratio of deposit to m-cap (market capitalisation). Read more

Indian Stock market: 5th March-Nifty to stay volatile; holding 11,000 level key for bulls

Indian Stock market: 5th March-Nifty to stay volatile; holding 11,000 level key for bulls

Wednesday, March 4, 2020

In a highly volatile session on Wednesday,4th March the stock market slipped back into the red.NSE Nifty made a tepid start and traded in a capped range in the morning trade. However, the bears made a comeback, as the headline index slipped below the 11,100 level. After recovering over 160 points from the day’s low in the last hour of the session, the 50-stock pack settled 52.30 points or 0.46 percent at 11,251. On 5th March, the expiry of weekly derivatives will dominate the session. As expected, Nifty is consolidating in volatile moves and is struggling to find a bottom. As of now, the index has stayed above the double bottom pattern support in the 11,050-11,100 zone. Experts expect the market to continue to consolidate with limited upsides. The trading range is also unlikely to let volatility come down significantly. Thursday’s session is likely to see a shaky start with 11,290 and 11,315 levels acting as resistance. The support is expected to come in at 11,190 and 11,100.

Government to allow NRI`s to acquire 100% stake in Air India

Government to allow NRI`s to acquire 100% stake in Air India

Wednesday, March 4, 2020

The Cabinet on Wednesday approved the proposal to allow non-resident Indians (NRIs) to acquire 100% stake in national carrier Air India. NRIs who are Indian nationals will get permission to invest in Air India. This will pave the way for fresh investments. Passengers will continue to get better and better services and it will also improve the business environment. The administration of Narendra Modi has made India a very attractive destination for foreign investment. The government said the successful bidder will need to absorb just ₹23,286.5 crores of debt while the rest, about ₹56,334 crores, will be transferred to a special purpose vehicle - Air India Assets Holding Ltd. Air India operates 98 destinations, including 42 spots overseas. It has 121 aircraft of which it owns 32 while the rest are leased. It has 9,426 permanent workers, 4,201 contract employees and over 2,867 employees who are on deputation from other companies as on 1 November.

Coronavirus impact: OECD slashes India's FY21 growth forecast to 5.1%

Coronavirus impact: OECD slashes India's FY21 growth forecast to 5.1%

Tuesday, March 3, 2020

The Organisation for Economic Cooperation and Development (OECD) Yesterday (2-3-2020) lowered India’s GDP growth forecast to 5.1 percent, from its earlier projection of 6.2 percent, for 2020 on concerns over the impact of deadly coronavirus on the domestic as well as the global economy. According to the latest OECD Forecasts, India’s real GDP growth is expected at 5.1 percent during the fiscal year starting April 1, 2020, and improve to 5.6 percent in the following year. The latest projection for 2020-21 is 1.1 percentage points lower than the November 2019 forecast. The OECD has projected India’s growth at 4.9 percent for the financial year ending March 2020. As per the report Global economic growth will sink to levels not seen in over a decade as the coronavirus outbreak hammers demand and supply, challenging central banks and governments to respond to a fast-changing situation, according to the OECD.

India's GDP growth at 4.7% in Q3 of FY2020, marginal improvement over Q2

India's GDP growth at 4.7% in Q3 of FY2020, marginal improvement over Q2

Saturday, February 29, 2020

India’s GDP growth in the October-December quarter of 2019 (Q3 of FY20) stood at 4.7 percent, as per the data released by the Central Statistics Office (CSO) on 28th Feb. The data also showed that projections for economic growth in FY2020 had been at 5 percent in the second advance estimates. The rate of the country’s economic growth had stood at a six-year low of 4.5 percent in the previous quarter (Q2) and 6.6 percent in the same quarter a year earlier (Q3 of FY19). India’s GDP growth in FY2019 had stood at 6.8 percent.

Indian Patent office rejects Google's application for wearable electronics

Indian Patent office rejects Google's application for wearable electronics

Saturday, February 29, 2020

The Indian Patent Office on Thursday rejected Google’s application on wearable electronic devices, observing that it lacks inventive steps and the use and method by which it is to be performed is not fully described incomplete specification. Google, in its patent specification, said that the invention comprises electronic devices provided in shoes or ankle bracelets. The patent application for ‘System and method for wearable electronic devices was filed in 2007. One of the objections raised by the patent office was that the claims lack inventive step as required under the Indian Patent Act, as the claims of the apparel being used as personal devices to transmit data and display them on a personal device, was already known as per the available documents. The claims relating to transmitting and receiving calls on a portable device worn the wrist are also known. There has also been a lack of proper specification and disclosure as required by the Act, the patents office said.

Investors lose Rs 11.4 trillion in 6 days:Selling overdone?

Investors lose Rs 11.4 trillion in 6 days:Selling overdone?

Saturday, February 29, 2020

Continuous selling for six sessions in the Indian markets in tune with global trends that have tumbled as coronavirus fears escalated has shaken investor confidence. Total investor wealth has dropped by Rs 11.4 trillion in the past six trading days to Rs 147 trillion, as per the exchange data. On 28th Feb 2020, the S&P BSE Sensex tumbled 3 percent, in intra-day deals to 38,565 levels. From a level of 41,323 on Wednesday, February 19, 2020, the index has tanked 6.7 percent in the past six trading days. There is more pain in store for global markets in the backdrop of the coronavirus scare. But it is widely felt that selling in the Indian markets has been overdone as the country has remained relatively immune to the pandemic till now. “Indian markets have been following the global trend and are better-off with the energy and commodity prices falling."If one is convinced about the long-term prospects, this is the time to buy fundamentally sound companies,” experts opined

Indo-US energy relations set to touch a new high

Indo-US energy relations set to touch a new high

Monday, February 24, 2020

Under the Indo-US deal,India is to get a share in natural gas from the proposed Driftwood project in Louisiana,US. The $12 billion worth of annual crude oil imports to India along with a possible LNG deal are set to take the energy relations of India and the US to a new high. The energy ties between the two nations had improved after Donald Trump took over as President of US in 2017. Under the deal, India is to get a share in natural gas from the proposed Driftwood project in Louisiana. Petronet LNG had signed a deal with US’s Tellurian for the project last September. The over $2 billion the deal is likely to get final shape during the current visit of Trump.

Trump India visit

Trump India visit

Monday, February 24, 2020

US President Donald Trump, along with First Lady Melania and daughter Ivanka, is on his maiden visit to India. He is scheduled to land at Ahmedabad’s Sardar Vallabhbhai Patel International Airport at 11:40 am, following which he will address the ‘Namaste Trump’ event at Motera stadium at 1 pm where he will be accompanied by Prime Minister Narendra Modi. The US President is also scheduled to visit the Taj Mahal today. On Day-2,he will visit samadhi of Mahatma Gandhi at Rajghat and then meet PM Narendra Modi at Hyderabad House and Exchange Agreements/ Press Statement. Then he will be meeting President Ram Nath Kovind at Rashtrapati Bhavan.At 10 PM he will be departing back to US.

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India

Flipkart has filed a legal challenge against an antitrust investigation by CCI in India

Friday, February 21, 2020

The Competition Commission of India (CCI) in January ordered a probe into alleged violations of competition law and certain discounting practices by the two e-commerce giants, but a state court put the investigation on hold last week following a challenge by Amazon. Flipkart has filed the case in a court in Bangalore aggrieved by the CCI's probe order. In the case Flipkart argues that CCI ordered its probe without initial evidence that the company's practices were harming competition. The filing comes days ahead of U.S. President Donald Trump's visit to India, and amid U.S. concerns about India's tightening of foreign investment rules for the ecommerce sector.

Rising ticket sales: Happy story of Indian cinema

Rising ticket sales: Happy story of Indian cinema

Friday, February 14, 2020

The top hit bollywood movies like Total Dhamaal,Gully Boy,Housefull 4,Mission Mangal,Bharat,Uri,Kabir Singh, War mopped up around 2557 crores in the box offices during 2019.Other language films also made fairly well during the year though Indian economy as a whole is in a slowdown phase. Indians bought 1.03 billion movie tickets, spending Rs 10,948 crore last year, an increase of 11.6 per cent over 2018. In 2019, there were some green shoots of rising ticket sales in the results for India’s major multiplex chains. This round of box-office growth is led by growth in the underlying factor that matters most – more people watching films. This trend is likely to continue going by the factors that underpin this growth. On an overall basis language is becoming more important.Many of the top 10 movies are more multilingual.Content is reported to be most important factor for the success and hence while star-led films naturally get a better opening, their staying power depends on the story

Air India arranges a special flight to evacuate Indians from Wuhan today

Air India arranges a special flight to evacuate Indians from Wuhan today

Friday, January 31, 2020

Coronavirus outbreak: National airline carrier Air India arranges a Jumbo Boeing-747 to rescue about 250 passengers from Wuhan, China, the site of the outbreak of Coronavirus. This comes a day after India confirmed its first case of Coronavirus in Kerala. The 423 seater flight will depart from Delhi airport at 12.30 pm as per a senior airline official. "The national carrier once again comes to the rescue" read the tweet from Air India’s national spokesperson Ashwani Lohani.

SBI Q3 result:Profit Jumps 41%

SBI Q3 result:Profit Jumps 41%

Friday, January 31, 2020

One of the largest lender State Bank of India announced its quarterly results today with a 41% increase in profits at Rs 5,583.4 crore compared to Rs 3954.81 crores in the corresponding period of the previous year as the Provisions for bad loans fell sharply by 25.8 per cent sequentially to Rs 8,193.06 crore.

Indian Railways: Many Foreign investors show interest

Indian Railways: Many Foreign investors show interest

Thursday, January 30, 2020

Piyush Goyal-led Indian Railways’ plan to allow private trains has caught the eyes of many foreign investors. Bombardier, Alstom, Talgo are among the few who have attended conferences held recently. This Rs 22,500 crore project is expected to privatise 150 trains on 100 routes in the first phase of the project. The trains will mainly be concentrated on the busy Delhi-Mumbai and Delhi-Kolkata routes

Tag: india

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