After a period of consolidation in the approximate range of Rs 505-530, UPL has successfully broken out of a bearish trendline that had persisted for 5 months
Posts in category Business Standard
Is it a good time to sell Nifty 50, MidCap Select index? What charts say (10-06-2024)
The NIFTY 50 Index is currently trading at 23,290.15. Although the overall trend remains bullish, recent volatility has disrupted the near-term pattern, evidenced by large candlestick formations
Market crash? Retail investors snap up shares worth nearly Rs 21,200 crore (09-06-2024)
NSE clocked volumes of a record Rs 2.71 trillion in the cash market segment on Tuesday, the election verdict day
Fed rate, US inflation, global cues to drive markets this week: Analysts (09-06-2024)
The US Fed interest rate decision, domestic inflation data and global trends would be key driving factors in dictating movement in the market this week, as the Lok Sabha elections outcome and the RBI policy decision are behind us, analysts said.
The past week was a roller-coaster ride for investors as markets swung sharply in both directions before closing with strong gains.
In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent and the Nifty zoomed 759.45 points or 3.37 per cent.
The 30-share BSE Sensex jumped 1,720.8 points or 2.29 per cent to hit a new record peak of 76,795.31 in day trade on Friday. The benchmark ended at a record high of 76,693.36, up 1,618.85 points, or 2.16 per cent.
“Now the Lok Sabha elections and the RBI policy decision are settled, attention now turns to global factors. Key areas to watch include the US Fed interest rate decision, the rupee’s movement against the dollar, crude oil prices and commodity prices.
“Additionally, …
FPIs take out Rs 14,800 cr from domestic stocks after election results (09-06-2024)
Foreign investors withdrew nearly Rs 14,800 crore from domestic stocks in the first week of this month, influenced by India’s Lok Sabha election results and attractive valuations of Chinese stocks.
The outflow came following a net outflow of Rs 25,586 crore in May on poll jitters and more than Rs 8,700 crore in April on concerns over a tweak in India’s tax treaty with Mauritius and a sustained rise in US bond yields.
Before that, FPIs made a net investment of Rs 35,098 crore in March and Rs 1,539 crore in February, while they took out Rs 25,743 crore in January, data with the depositories showed.
From a medium to long-term perspective, the direction of interest rates will remain a key driver for foreign investment flows into the Indian equity markets.
According to the data, Foreign Portfolio Investors (FPIs) made a net withdrawal of Rs 14,794 crore this month (till June 7).
The general election results in India significantly influenced foreign investor flows in Indian equity marke
Mcap of 8 most valued firms jumps Rs 3.28 trn; HUL, Reliance lead winners (09-06-2024)
Eight of the 10 most valued domestic firms together added Rs 3.28 lakh crore to their market valuation last week, with blue-chips Tata Consultancy Services, Hindustan Unilever and Reliance Industries emerging as the biggest winners.
In an eventful week, the BSE benchmark jumped 2,732.05 points or 3.69 per cent.
The 30-share BSE Sensex jumped 1,720.8 points or 2.29 per cent to hit a new record peak of 76,795.31 in intra-day trade on Friday. The benchmark ended at a record high of 76,693.36, up 1,618.85 points or 2.16 per cent.
From the top-10 pack, Reliance Industries, Tata Consultancy Services (TCS), HDFC Bank, Bharti Airtel, ICICI Bank, Infosys, Hindustan Unilever (HUL) and ITC were the gainers. These companies added a total of Rs 3,28,116.58 crore to their market valuations.
State Bank of India and Life Insurance Corporation of India (LIC) were the laggards from the top-10 pack.
The market valuation of TCS zoomed Rs 80,828.08 crore to Rs 14,08,485.29 crore, emerging as the bigge
Plea in SC seeks probe against media cos for telecasting exit polls (08-06-2024)
On June 4 counting took place and the share market crashed, resulting in a massive loss of Rs 31 lakh crore for common investors, said advocate BL Jain who filed the plea
Superhouse consolidated net profit declines 44.27% in the March 2024 quarter (08-06-2024)
Sales decline 5.39% to Rs 158.82 crore
Lumax Inds board appoints Raju Bhauso as CEO; Vishnu Johri resigns (08-06-2024)
Lumax Industries announced that its board has approved the appointment of Raju Bhauso as chief executive officer (CEO) of the company with effect from 1 July 2024.
Bajaj Housing Finance files papers with Sebi for Rs 7,000 crore IPO (08-06-2024)
The funds raised from Bajaj Housing Finance’s fresh issue will be used to augment its capital base to meet future business requirements