Posts in category Business Standard
Nifty, Bank Nifty can fall up to 7%, warn charts; Key hurdles to watch out (19-02-2024)
According to Ravi Nathani, an independent technical analyst, the trading strategy for Nifty and the Bank Nifty is 'sell on rise'.
Global trends to guide mkts this week amid lack of local triggers: Analysts (18-02-2024)
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts.
Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment.
"With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - Technical Research, Religare Broking Ltd, said.
Markets traded volatile in the continuation to the prevailing consolidation phase but managed to edge higher. The beginning was subdued, however, gradual recovery in the following sessions not only pared losses but also helped the index to close around the week's high, Mishra said.
Due to robust macroeconomic data, domestic markets concluded the previous week on a positive note, with the frontline indices gaining more than a per cent. Sensex settled at 72,426.64 and Nifty at 22,040.70.
The markets also got sup
Cautious FPIs take out Rs 3,776 cr in Feb due to spike in US bond yields (18-02-2024)
Foreign investors adopted a cautious approach offloading Indian equities worth close to Rs 3,776 crore so far this month owing to a spike in the US bond yields and uncertainty over the interest rate environment in the domestic as well as the global front.
In contrast, they are bullish on the debt market and injected Rs 16,560 crore in during the period under review, data with the depositories showed. '
According to the data, Foreign Portfolio Investors (FPIs) pulled out a net sum of Rs 3,776 crore from the Indian equities this month (till February 16). This came following a net withdrawal of Rs 25,743 crore in January.
With this, the total outflow for this year has reached Rs 29,519 crore.
"The spike in US bond yields triggered by the higher-than-expected consumer price inflation led to sustained selling by FPIs," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Also, the latest selling could be attributed to the uncertainty surrounding the interest r
Realty sentiment index moves upward as financial institutes remain bullish (18-02-2024)
Real estate developers and financial institutions are bullish on their outlook for the property market for the next six months and expect the high demand to sustain its momentum, according to a Knight Frank and NAREDCO report.
Real estate consultant Knight Frank and realtors' body Naredco on Sunday released their 39th edition of Real Estate Sentiment Index for Q4 2023 (October-December 2023).
As per the report, the current sentiment index score remained in the optimistic zone, rising to 69 from 59 in the third quarter of 2023 calendar year.
The sentiment index is based on the survey of supply-side stakeholders like developers, investors and financial institutions.
A score of above 50 indicates 'optimism' in sentiments, a score of 50 means the sentiment is 'same' or 'neutral'. The score below 50 indicates 'pessimism'.
The future sentiment score, which indicates stakeholders' outlook, has also increased from 65 in Q3 2023 to 70 in Q4 2023, driven by general optimism about the Indian
Hybrid mutual funds scheme gain popularity, attract Rs 20,634 crore in Jan (18-02-2024)
Hybrid mutual fund schemes have been gaining popularity among investors, attracting Rs 20,634 crore in January, marking a 37 per cent surge from the previous month, largely due to their appeal as an alternative investment option post-change in taxation laws for debt funds.
With this, total inflow in the category reached Rs 1.21 lakh crore in the April-January period of the current financial year (FY24).
However, hybrid schemes saw outflow in the same period of the preceding financial year.
Hybrid funds are mutual fund schemes that typically invest in a combination of equity and debt securities and sometimes in other asset categories such as gold.
The category has been attracting regular inflows since April 2023, after a change in taxation for debt funds that kicked off in the same month. Before that, the segment saw a net withdrawal of Rs 12,372 crore in March last year.
According to the latest data with the Association of Mutual Funds in India (Amfi), hybrid schemes witnessed an
Mcap of 6 most valued firms fall by Rs 71,414 cr; LIC, TCS biggest laggards (18-02-2024)
The combined market valuation of six of the top-10 most valued firms eroded by Rs 71,414 crore last week, with state-owned company LIC emerged as the biggest laggard.
Of the top-10 most valued firms, Life Insurance Corporation of India (LIC), Tata Consultancy Services (TCS), ITC, Hindustan Unilever, Bharti Airtel and Reliance Industries faced a total erosion of Rs 71,414.03 crore.
On the other hand, State Bank of India, Infosys, HDFC Bank and ICICI Bank were emerged as the gainers. They collectively added Rs 62,038.86 crore.
However, in last week, the BSE benchmark climbed 831.15 points or 1.16 per cent.
The market valuation of state-owned insurer LIC fell by Rs 26,217.12 crore to Rs 6,57,420.26 crore.
TCS's market valuation tumbled by Rs 18,762.61 crore to Rs 14,93,980.70 crore.
The market capitalisation of ITC eroded by Rs 13,539.84 crore to Rs 5,05,092.18 crore, while that of Hindustan Unilever dimnished Rs 11,548.24 crore to Rs 5,58,039.67 crore.
Market valuation of Bharti A
Kaynes Tech incorporates subsidiary in Karnataka (17-02-2024)
Kaynes Technology India announced that it has incorporated a wholly owned subsidiary company (WOS) named 'Kaynes Mechatronics' (KMPL) on 16 February 2024.
Mediaone Global Entertainment standalone net profit declines 82.73% in the December 2023 quarter (17-02-2024)
Sales decline 77.30% to Rs 2.20 crore
Essel Lucknow Raebareli Toll Roads standalone net profit rises 167.52% in the December 2023 quarter (17-02-2024)
Sales rise 96.03% to Rs 22.23 crore
Goswami Infratech Pvt reports standalone net loss of Rs 690.88 crore in the December 2023 quarter (17-02-2024)
Sales rise 140.00% to Rs 0.12 crore