Tag: stock market

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

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

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

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

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

Major factors for today's market mayhem

Major factors for today's market mayhem
Monday, August 29, 2022
US markets plunged sharply after Powell’s speech on Friday. The Nasdaq shed the most by falling nearly 4 percent. The futures of the frontline indices were also steeply lower in after-market hours. The same was true for Asian equities as Nikkei, Hang Seng, and Strait times indices tanked up to 2.9 percent on Monday. Fresh recession fears: The US Fed's chair not only maintained that the bank would continue with interest rate hikes but also triggered renewed fears of an impending recession in the US economy. That apart, spiraling gas prices spiral in Europe are further lending strength to fears of a recession in major Western economies. European gas prices hit a record high above €343 per megawatt hour ($100 per million British thermal units) on Friday, hinting at the stark threat to energy-intensive industries. Read more

Asian and emerging markets entering the late stages of a bear market

Asian and emerging markets entering the late stages of a bear market
Thursday, May 12, 2022
Asian and emerging markets are entering the late stages of a bear market, said some analysts in their outlook note yesterday(12 May 2022). The near-term risks, the note said, are known, but potent. Typically, a market is said to be in a bear phase when the frontline stock indices drop 20 percent or more from their recent high. Read more

Indian equities-buy only on a dip: Chris Wood

Indian equities-buy only on a dip: Chris Wood
Friday, May 6, 2022
Christopher Wood, global head of equity strategy at Jefferies in his latest note to investors, GREED & fear suggested that India remains Asia's best long-term structural story in terms of equities and investors should buy their favourite stocks on a decline. However, given the macro headwinds – the need to tighten monetary policy combined with the continuing risk, if not probability, of a much higher oil price, are the key reasons Wood has been in no hurry to add to the 'overweight' position he has in Indian equities in his Asia ex-Japan portfolio. Read more

Cryptocurrency market:Bitcoin hits two-week high; Solana, Ethereum, Dogecoin jump up to 11%,

Cryptocurrency market:Bitcoin hits two-week high; Solana, Ethereum, Dogecoin jump up to 11%,
Saturday, February 5, 2022
The world's biggest and best-known cryptocurrency Bitcoin rallied 10 percent to a two-week high today(5t February 2022)mainly due to a return in risk appetite and a rally in stock markets cryptocurrency Ethereum, the second-largest crypto in m-cap terms, also jumped 9 percent. Among key cryptos, Bitcoin was up 10 percent in the last 24 hours at $41,615.37. Earlier, it hit a high of $41,983, taking gains from Thursday's lows to nearly 16 percent and marking a 27 percent rise from the year's low of $32,950.72 on January 24. Ethereum was quoting at $3,030.08, up 8.57 percent. Most of the 10 top digital tokens were trading with strong gains on Saturday. Solana climbed up 10.82 percent, taking its 7-day rise to 23 percent. Polkadot soared 15.37 percent, taking its 7-day rise to 20 percent. At the same time, Terra was up 11.53 percent. BNB, XRP, and Cardano gained 9-12 percent. Tether was trading flat.

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.

Rally had sustained through 2020 and the second wave and was “not a blip”.FM Nirmala Sitharaman

Rally had sustained through 2020 and the second wave and was “not a blip”.FM Nirmala Sitharaman
Wednesday, August 18, 2021
Finance minister Nirmala Sitharaman does not agree with the sentiment that there is a disconnect between the stock market's current run and the real economy. She said the rally had sustained through 2020 and the second wave and was “not a blip”. “Stretched valuations of financial assets pose risks to financial stability. Banks and financial intermediaries need to be cognisant of these risks and spillovers in an interconnected financial system,” wrote Reserve Bank Governor Shaktikanta Das in the Financial Stability Report earlier this year. Read more

Rolex rings lists at 1250 39 percent jump over IPO price

Rolex rings lists at 1250 39 percent jump over IPO price
Monday, August 9, 2021
Auto components maker Rolex Rings based in Gujarat made its stock market debut on Monday with its shares listing at ₹1,250 per share on the NSE, surging nearly 39% premium over its issue price of ₹900 per share. It rallied up to Rs 1,264.95, up 40 percent. Analysts had expected it to debut with a 45-50 percent premium. The Rolex Rings was subscribed a massive 130 times by investors last month. Rolex Rings’ Rs 731 crore IPO was a mix of fresh issues of equity shares worth Rs 56 crore while the remaining Rs 675 crore was an offer for sale (OFS) by existing shareholders. The company's price band was fixed at ₹880-900 per share. The company is one of the top five forging companies in India, in terms of installed capacity The client base of Rolex Rings consists of leading global bearing manufacturers such as SKF, Timken, Schaeffler, NEI & NRB Bearings. Read more

Investors need to be careful reg.current excitement in small-caps

Investors need to be careful reg.current excitement in small-caps
Tuesday, July 13, 2021
The global stock market rally continues unabated with the Dow, Nasdaq, S&P 500, and the pan European Stoxx 600 again setting new record highs. It looks like markets are currently ignoring valuation concerns. The fact that 583 stocks, mostly mid and small-caps were locked in the upper circuit yesterday is an indication of the frenzied retail activity in markets. These are warning signals to investors. However, the news from the inflation front is positive with June CPI coming at 6.26% against an expectation of 6.5%. This gives room for the RBI to continue on the accommodative mode further strengthening the bulls. While remaining invested in high-quality stocks investors should be careful regarding investments in small-caps, according to market analysts.

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

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

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

Manic Monday! Major factors for the stock market crash today

Manic Monday! Major factors for the stock market crash today
Monday, April 19, 2021
The Indian benchmark indices nosedived in today's(19th April 2021) session mainly due to a strong second wave of Covid-19 in the country, leaving the market bulls battered. An across-the-board selling resulted in a 1,469-point crash on the BSE barometer Sensex in intra-day trade. The index, however, recouped some losses and ended 883 points lower at 47,949 with HDFC twins, Reliance Industries, and select banking counters among the worst drags. Barring shares of Dr. Reddy's Labs and Infosys, all constituents of the 30-pack index traded in the red. Meanwhile, its NSE counterpart Nifty after shedding as much as 425 points ended with a 258-point cut at 14,359. High volatility marked today's session with India VIX settling 10.20 percent higher at 22.48. The sell-off was equally bad in the broader markets as mid-cap and small-cap indices lost 2.1 - 2.4 percent lower. Except for Nifty pharma, all indices on NSE traded in the red. Read more

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.

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

Key factors behind today's market fall

Key factors behind today's market fall
Monday, March 15, 2021
Today (15th March 2021) the equity benchmark indices were on track for the second day of fall.The fall comes on the back of weak macroeconomic data (dip in IIP, rise in inflation) and resurgence in Covid-19 infections. Besides, elevated crude prices and jump in bond yields also weighed on sentiment. The weak macroeconomic print spooked investors who have been plowing money into the market amid hopes of a strong economic recovery. In a double whammy for the economy, industrial production growth re-entered the negative territory by contracting 1.6 percent in January, while retail inflation soared to a three-month high of 5.03 percent in February on costlier food items. That apart, WPI inflation came in at 4.17 percent in February, up 2.03 percent from January. "Looking ahead, we expect large upticks in the WPI inflation over the next three months, as the wedge between the commodity prices and their year-ago level intensifies. We expect the headline and core WPI inflation to rise 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

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

Key factors behind today's market crash

Key factors behind today's market crash
Wednesday, January 27, 2021
Benchmark indices extended their losses to the fourth day today mainly led by losses in index heavyweight Reliance Industries, private lenders, and select IT stocks, Weak global markets, a mixed set of Q3 earnings, and selling by foreign institutional investors (FIIs) dented the domestic market mood in today's session. Meanwhile, investors chose to book profits ahead of the Union Budget on Monday, February 1. The BSE barometer Sensex plunged 938 points to 47,410 while its NSE counterpart Nifty slipped below the 14,000 marks to end at 13,968, down 271 points. Global stocks are mostly treading water near record highs as US corporate earnings roll in. Meanwhile, new coronavirus variants that sparked fresh lockdowns and other restrictions are weighing on the market mood. Read more

Major factors behind today's stock market rally

Major factors behind today's stock market rally
Monday, October 19, 2020
Today( 19th Oct 2020) almost all Sensex stocks opened higher on as investors went all out to buy amid renewed hopes of an early economic stimulus package from the US and a vaccine by year-end. In the last 12 sessions, bluechip indices have closed in the red for just one session, which outlines the one-way rally the the market has seen. HDFC twins were the biggest positive contributors during the first hours of the day. PSU stocks also saw some buying and were among the top gainers. "Nifty has good support at 11,650 and until we do not break that, we are in positive territory. The resistance on the the upside is at 12,050. If we are unable to move past either level convincingly, we would be range-bound and trading in this zone should be avoided. Stocks that look interesting for an up move include Axis Bank, HDFC Bank, and Tata Steel," experts opinied.Some of the key factors for the rally are Read more

The aversion to risks is steadily reducing in the stock market

The aversion to risks is steadily reducing in the stock market
Monday, July 6, 2020
The aversion to risks is steadily reducing in the stock market, which had surged to the highest levels in over a decade in March following the COVID-19-related worries. The Volatility Index (VIX) — a measure of options traders’ perception of near-term risks — has fallen to 25.77 on 3rd July, its lowest since March 6, from 86.6 on March 24 as the rebound in the markets aided by softer concerns over the pandemic made investors and traders return to Dalal Street. The index is, however, still above its average range of 13 to 20 — the levels within which it mostly moved in the years earlier. Brokers say the risk appetite is treading its way back as global markets have rallied on liquidity support from central banks, improvement in some economic indicators and strong participation from retail as well as high net-worth investors. Read more

Some factors which will contribute to stock market trends on Friday,13th March

Some factors which will contribute to stock market trends on Friday,13th March
Friday, March 13, 2020
After the worst intraday crash in the history of the Indian stock market, several analysts said the bearish trend is likely to continue, while investors looked drained of confidence to nibble even at the blue chips at attractive prices. The 2,919-point, or 8.18 percent, tumble in the Sensex wiped out around Rs 11.30 lakh crore in equity investors' wealth. And after an 868-point drop, Nifty was perilously poised at its key support at 9,500, below which it may plumb a bottom anywhere between 8,600 and 8,100. RBI announces $2 billion money shot: The Reserve Bank of India on Thursday made its first decisive move to counter the coronavirus-triggered market volatility by opening a US dollar–Indian Rupee swap window of $2 billion. Read more

Stock Market to remain open tomorrow

Stock Market to remain open tomorrow
Friday, January 31, 2020
Stock Trading on BSE and NSE will be open tomorrow to leverage special trading session on Budget Day. Modi led government has decided to present the budget on February 1 despite it being a Saturday this year. Since the government is expected to make some bold moves and relieve tax on long term capital gains, stock traders will keep a close watch on Budget day. Stock Market will be open for regular trading hours i.e. from 9:15 AM to 3:30 PM. Pre-open trade would be held normal from 9 am to 9.15 AM. There will be no settlement for tomorrow.

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