Posts in category Business Standard
Nifty50, Bank Nifty overbought on charts; check key levels for this week (01-01-2024)
Technical indicators such as RSI, Stochastic, and MACD are signaling an overbought condition on near-term charts for the Nifty50, says Ravi Nathani
Stock Market Live: Lower start likely with global markets shut for new year (01-01-2024)
Stock market live updates on January 1, 2024: BHEL will be in focus amid reports it has won a Rs 19,422-crore turnkey contract for a thermal power plant for NLC India at Talabira, Odisha
Delightful year for IPO investors as 54 of 59 issues return 45% on average (31-12-2023)
In a year when the key equity benchmarks scaled new highs and rallied nearly 20 per cent making investors richer by close to Rs 82 lakh crore, IPO investors laughed all the way to the bank as 55 of the 59 issues gave them handsome returns of 45 per cent on average.
In fact, 2023 turned out to be an outlier for primary market investors when 59 companies hit the street, raising Rs 54,000 crore, and returned over 45 per cent more than the issue prices on average, according to exchange data.
This means that more than two-thirds of companies outperformed benchmark indices which rallied close to 20 per cent in the year.
The average listing gain for all the 59 IPOs is 26.3 per cent and their average gain as of December 29 is 45 per cent and only four of the 59 main-board IPOs are traded below the issue price on the trading session of the year on December 29.
As much as 23 of the 59 issues rallied more than 50 per cent since listing and of them, nine gave more than two-fold gains over the
Equity market set for eventful journey on interest rate trajectory in 2024 (31-12-2023)
With tailwinds of a remarkable year and handsome investor returns, Indian equities are set for an eventful journey in 2024, with a slew of local and global cues -- varying from interest rates to Lok Sabha polls to geopolitical happenings.
Analysts are of the view that the bull run in the domestic equity market will continue, and over the next 3-6 months, the benchmark indices -- Sensex and Nifty -- could climb up to 7 per cent.
In 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent, and the NSE Nifty climbed 3,626.1 points or 20 per cent.
Lok Sabha elections, the US Presidential polls, the trajectory of interest rates, particularly in the US and India, inflation trends and geopolitical situation will be the key factors for the stock market, analysts opined.
Experts said the return of the BJP government with a majority in the 2024 general elections is a pivotal factor on the market's wishlist for the new year.
As political stability plays a significant role in .
FPIs inject Rs 1.7 trn into Indian equities in 2023, uptick in flows in Dec (31-12-2023)
In a remarkable comeback, foreign portfolio investors (FPIs) have pumped Rs 1.7 lakh crore into the Indian equity markets in 2023, propelled by confidence in the country's robust economic fundamentals amid a challenging global landscape.
The year 2023 has witnessed massive investment by FPIs, thanks to the sharp uptick in inflows of Rs 66,134 crore in December.
Going forward, FPI flows are expected to be robust. However, their allocation is likely to be selective, said Kislay Upadhyay - smallcase Manager and founder of Fidel Folio.
Anticipating a continued decrease in the US interest rates throughout 2024, it is likely that FPIs are likely to increase their purchases, especially in the early months of the New Year in the run-up to the general elections, VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
In 2023, FPIs made a net investment of Rs 1.71 lakh crore in equities and Rs 68,663 crore in the debt markets. Together, they infused Rs 2.4 lakh crore
M-cap of 8 of top-10 valued firms jump Rs 1.29 trn; HDFC biggest gainer (31-12-2023)
The combined market valuation of eight of the top-10 most valued firms jumped Rs 1,29,899.22 crore in a holiday-shortened last week, where equity benchmark indices recorded a sharp rally.
Last week, the BSE benchmark jumped 1,133.3 points or 1.59 per cent. The index reached its all-time high of 72,484.34 on December 28.
Equity markets were closed on Monday for Christmas.
While Reliance Industries, HDFC Bank, ICICI Bank, Hindustan Unilever, Bharti Airtel, ITC, State Bank of India and Life Insurance Corporation of India (LIC) were the gainers, Tata Consultancy Services (TCS) and Infosys were the laggards.
HDFC Bank, LIC, Bharti Airtel and Hindustan Unilever were the biggest winners from the top-10 pack.
The market valuation of HDFC Bank jumped Rs 29,828.84 crore to Rs 12,97,972.04 crore.
LIC added Rs 25,426.49 crore, taking its valuation to Rs 5,27,062.06 crore.
The valuation of Bharti Airtel surged Rs 24,510.96 crore to Rs 5,80,645.54 crore, and that of Hindustan Unilever rallied
No need for a second trial of FTX founder Sam Bankman-Fried: Prosecutors (30-12-2023)
A second trial of FTX founder Sam Bankman-Fried on charges not in the cryptocurrency fraud case presented to a jury that convicted him in November is not necessary, prosecutors told a judge Friday.
Prosecutors told US District Judge Lewis A. Kaplan in a letter that evidence at a second trial would duplicate evidence already shown to a jury. They also said it would ignore the "strong public interest in a prompt resolution" of the case, particularly because victims would not benefit from forfeiture or restitution orders if sentencing is delayed.
They said the judge can consider the evidence that would be used at a second trial when he sentences Bankman-Fried on March 28 for defrauding customers and investors of at least USD 10 billion.
Bankman-Fried, 31, who has been incarcerated since several weeks before his trial, was convicted in early November of seven counts, including wire fraud, wire fraud conspiracy and three conspiracy charges. He could face decades in prison.
Last spring,
Gold price dips Rs 380 to Rs 63,870, silver falls Rs 1,200 to Rs 78,300 (30-12-2023)
The price of 22-carat gold declined Rs 350, with the yellow metal selling at Rs 58,550
2023: A year when equity gains surprised investors, Sensex surged 18.7% (29-12-2023)
Sensex has gained 18.7 per cent, and the Nifty 20 per cent and debt funds have given single-digit returns
‘Everyone got burned’: Wall Street missed great stock rally of 2023 (29-12-2023)
Blended together, these three calls - sell US stocks, buy Treasuries, buy Chinese stocks - formed the consensus view on Wall Street