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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.

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

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

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

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 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

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: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.

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).

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 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

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 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.

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.

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.

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

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.

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

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

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

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