Tag: india market

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.

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.

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