Tag: ukraine

Investors should sell stocks on a rally: Chris Wood

Investors should sell stocks on a rally: Chris Wood
Tuesday, June 21, 2022
Markets have found it tough to cling to higher ground. CHRISTOPHER WOOD, global head of equity strategy at Jefferies advises that investors should look to sell stocks on a rally in the short term. What will see the markets rally is a sudden end to the Russia – Ukraine conflict as it will ease supply pressure across commodities, he tells. He also suggested that the bet for a sustained equity market rally before the 2022 end is a possible change in the US Fed's language.

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 155 points to 58,019 levels, and Nifty gained 12 points to reach the 17,300 mark

MARKET UPDATE:Sensex rose 155 points to 58,019 levels, and Nifty gained 12 points to reach the 17,300 mark
Monday, March 21, 2022
The Indian key benchmark indices started today's(21 March 2022) session with mild gains amid the ensuing uncertainty of the Russia-Ukraine war. The BSE Sensex rose 155 points to 58,019 levels, and the NSE Nifty50 hardly gained 12 points to reach the 17,300 mark. On the Sensex, Maruti, Infosys, Wipro, Tata Steel, Tech M, Titan, TCS, and Sun Pharma were the front winners, with opening gains of up to 1.8 percent. In the broader markets, the BSE MidCap and SmallCap indices were mixed with the former in red, while the latter held gains of 0.26 percent.

MARKET UPDATE:Sensex rose 300 points to 55,850, while NSE Nifty at 16,681, higher by 51 points

MARKET UPDATE:Sensex rose 300 points to 55,850, while NSE Nifty at 16,681, higher by 51 points
Monday, March 14, 2022
The Indian benchmark indices started today's(14th March 2022) session on a positive note. Despite uncertainty on developments around Russia-Ukraine talks, The BSE Sensex rose 300 points to 55,850, while the NSE Nifty was at 16,681, higher by 51 points. On the Sensex, HDFC Bank, Infosys, ICICI Bank, HDFC, SBI, Asian Paints, Tech M, Bajaj Finserv, and Wipro were the leading frontrunners, up between 0.5-2 percent. On the flip side, Hindustan Unilever, HCL Tech, Dr. Reddy's, M&M, Reliance, PowerGrid, IOC, BPCL, Tata Motors, SBI Life were the top losers, down up to 1.6 percent. The broader markets were also firmly up with the BSE MidCap and SmallCap indices up to 0.4 percent higher. 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

LIC IPO may be delayed to next fiscal year amid market swings: Report

LIC IPO may be delayed to next fiscal year amid market swings: Report
Friday, March 4, 2022
The IPO of LIC of India is set to be delayed into the next financial year amid market swings triggered by the Russia-Ukraine crisis, according to some sources. Bankers and officials are preparing to shift the listing of the state-run insurer to after the current fiscal year, which ends in March, as per the source. A formal announcement could be expected this week or next, they added. LIC’s underwriters have seen muted interest during early meetings with potential anchor investors, according to the people. Many fund managers have been wary of making major commitments amid the market volatility, the people said. 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

State Bank of India stops handling trade with sanctioned Russian entities

State Bank of India stops handling trade with sanctioned Russian entities
Tuesday, March 1, 2022
India's top lender, State Bank of India(SBI) will not process any transactions involving Russian entities subject to international sanctions imposed on Russia after its invasion of Ukraine, according to a letter seen by Reuters and people familiar with the matter. "No transactions involving entities, banks, ports or vessels appearing" on a U.S., European Union, or United Nations sanctions list shall be processed irrespective of the currency of the transaction, said a letter sent by State Bank of India (SBI) to certain clients. Read more

Oil Marketing Companies under pressure

Oil Marketing Companies under pressure
Thursday, February 24, 2022
Shares of oil marketing companies (OMC) and city gas distribution players (CGDs) are under pressure, falling up to 6 percent on the BSE in Thursday’s intra-day trade as oil prices topped the $100 a barrel-mark for the first time since 2014 after Russia ordered military operations in Ukraine and reports emerged of blasts in some major Ukrainian cities. Rising crude oil prices are considered a major challenge for India Inc. because any hike in raw material and energy prices may put further pressure on the margins of domestic companies going ahead. Unsurprisingly, following escalating geopolitical tensions, the Indian stock markets nosedived. Following the rise in crude oil prices, the cost of aviation turbine fuel (ATF) has advanced 19 percent to Rs 90,519 per kl from Rs 76,062 per kl on January 1. The rise in ATF prices may hit the balance sheet of airline companies which accounts for more than 35 percent of the cost of running an airline in India. Read more

Russia attacks Ukraine

Russia attacks Ukraine
Thursday, February 24, 2022
Russian troops launched their anticipated attack on Ukraine today (24th Feb.2022), as President Vladimir Putin cast aside international condemnation and sanctions, warning other countries that any attempt to interfere would lead to “consequences you have never seen.” Big explosions were heard before dawn in Kyiv, Kharkiv, and Odesa as world leaders decried the start of a Russian invasion that could cause massive casualties and topple Ukraine’s democratically elected government. U.S. President Joe Biden pledged new sanctions meant to punish Russia for an act of aggression that the international community had for weeks anticipated but could not prevent through diplomacy. Read more

MARKET UPDATE:Sensex 2000 points lower around 55,300 levels, while Nifty slipped below the 16,500 mark down nearly 600 points

MARKET UPDATE:Sensex 2000 points lower around 55,300 levels, while Nifty slipped below the 16,500 mark down nearly 600 points
Thursday, February 24, 2022
The Indian benchmark indices extended their opening losses and slipped around 3 percent each in early morning trades today (24th Feb.2022) after Russia ordered military operations in Ukraine and reports emerged of blasts in some major Ukrainian cities. The BSE Sensex was 2000 points lower around 55,300 levels, while the NSE Nifty50 slipped below the 16,500 mark with a fall of nearly 600 points. Consequently, oil prices also soared and topped the $100 a barrel mark for the first time since 2014. Reports quoted Ukrainian officials as saying that both ballistic and cruise missiles strikes have targeted sites in Ukraine's capital city Kyiv. The city's airport is reportedly being evacuated with blasts being reported in three other major cities of Ukraine. Read more

MARKET UPDATE: Sensex fell 951 points to 56,732, while Nifty tanked 271 points to 16,935

MARKET UPDATE: Sensex fell 951 points to 56,732, while Nifty tanked 271 points to 16,935
Tuesday, February 22, 2022
The Indian key benchmark indices started sharply lower with a massive gap today (22 Feb.2022) amid downbeat global sentiment due to tensions around the Russia-Ukraine conflict. The BSE Sensex fell 951 points to 56,732, while the NSE Nifty tanked 271 points to 16,935. The two indices were nearly 2 percent lower. All the Sensex-30 constituents were in the negative territory, led by losses in Dr. Reddy's, Asian Paints, TCS, L&T, IndusInd Bank, HDFC twins, Bajaj Finserv, down 2-3 percent. On the Nifty, ONGC was the sole gainer, up 1.3 percent, while UPL was the additional loser. ONGC was firmly higher as crude oil prices have again jumped higher on the worsening Russia-Ukraine conflict. 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

American President Biden is 'convinced' Putin has decided to invade Ukraine

American President Biden is 'convinced' Putin has decided to invade Ukraine
Saturday, February 19, 2022
Yesterday(18th Feb.2022) US President Joe Biden said he's "convinced" that Russian President Vladimir Putin has decided to launch a further invasion in Ukraine, saying he has "reason to believe" it will occur in the "coming days" and will include an assault on its capital, Kyiv. After weeks of saying the US wasn't sure if Putin had made the final decision to launch a widespread invasion, Biden said that assessment had changed. "As of this moment I'm convinced he's made the decision," Biden said. "We have reason to believe that." He cited the United States' "significant intelligence capability" for the assessment. Biden reiterated his threat of massive economic and diplomatic sanctions against Russia if it does invade, and pressed Putin to rethink his course of action. He said the US and its Western allies were more united than ever to ensure Russia pays a price for the invasion.

Closing Bell:Sensex ended the day 54 points lower at 57,833 levels, while Nifty closed at 17,276, down 28 points

Closing Bell:Sensex ended the day 54 points lower at 57,833 levels, while Nifty closed at 17,276, down 28 points
Friday, February 18, 2022
The volatile streak in the markets extended into a third straight day today(18th Feb.2022) mainly due to the investor's fear about the ongoing tensions between Russia and Ukraine. The S&P BSE Sensex ended an extremely choppy day 54 points, or 0.1 percent, lower at 57,833 levels, while the Nifty50 shut shop at 17,276, down 28 points or 0.16 percent. Reliance Industries, Infosys, Ultratech Cement, Bajaj Finance, ICICI Bank, Bharti Airtel, and M&M were the major drag on the Sensex today(18th Feb.2022), accounting for most of the losses. This downside was capped by gains in HDFC twins, L&T, TCS, and Axis Bank. In the broader markets, the BSE MidCap and SmallCap indices shed 0.8 percent each with individual stocks, including Gland Pharma, Honeywell Automation, Astral Ltd, Hindustan Media Ventures, Asian Energy Services, and Unichem Labs cracking between 4 percent and 8 percent. Read more

MARKET UPDATE:Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points

MARKET UPDATE:Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points
Monday, February 14, 2022
The Indian key benchmark indices held on to sharp losses in early morning trade today (14th February 20222) but were slightly off lows. The indices had slumped at open amid high global volatility on a possible Russian invasion of Ukraine. The BSE Sensex was now 1,100 points at 57,041, and the NSE Nifty was at 17,032, lower by 348 points. HDFC, IndusInd Bank, Tata Steel, SBI, ICICI Bank, M&M, and Bharti Airtel were the top Sensex laggards, down 3-3.5 percent. JSW Steel led losses on the Nifty, trading 5 percent lower, followed by additional losers-HDFC Life and Tata Motors. The overall market breadth was also highly negative with 2,630 stocks declining on the BSE, while only 517 were trading higher. Read more

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