Tag: nifty50 index

Sensex may hit 53,000 soon. Markets in bubble zone?

Friday, May 28, 2021
Today the benchmark Nifty50 index achieved another milestone when it scaled a fresh record peak of 15,455.5. The feat comes just a day after the Reserve Bank of India issued caution over the meteoric rise in stock prices amid a ravaging Covid-19 pandemic. India's benchmark indices have more than doubled from the post-pandemic lows made in March 2020 while several individual companies have seen multi-fold jump in their stock prices. In May alone, nearly a dozen Nifty50 stocks have hit a lifetime high. These include State Bank of India, Wipro, Bajaj Finserv, Tata Steel, and JSW Steel. IT companies dominate the list of stocks that hit lifetime highs this year, followed by banks and financial services. "This order of asset price inflation in the context of the estimated 8 percent contraction in GDP in 2020-21 poses the risk of a bubble," the RBI said in its annual report yesterday. Read more

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

Tata Consumer is expected to replace GAIL in the Nifty50 index

Thursday, January 14, 2021
Tata Consumer is expected to replace state-run GAIL in the Nifty50 index as part of the semi-annual reshuffle, say experts. The index is reconstituted semi-annually, considering six months of data ending January and July, respectively, and a four weeks’ prior notice is given to the market participants. In the last rejig, SBI Life Insurance and Divi's Laboratories had replaced Bharti Infratel and ZEE Entertainment Enterprises. GAIL currently has an estimated weight of 40 bps in the index, while Tata Consumer is expected to enter the index with a weight of 60 bps. The rejig would entail ETFs and index funds buying worth Rs 7.6 billion and selling worth Rs 5.1 billion. According to the Nifty index inclusion criteria, the stock should be a part of the F&O segment.

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