Stock market LIVE updates on February 5: At 7:15 am, the Gift Nifty futures were 40 points lower at 21,909 levels
Posts in category Business Standard
Nifty, Bank Nifty: Wait for confirmed breakout from trading range (05-02-2024)
According to Ravi Nathani, an independent technical analyst, the Nifty is moving in a trading band of 21,650 – 22,000.
Market resilience in a pill: Pharma’s formula for Q3 earnings upgrades (04-02-2024)
Rx for returns: Pharma firms’ dominance in market recovery prescription
M-cap of 8 of top-10 most valued firms climb Rs 2.90 trn, Reliance shines (04-02-2024)
The combined market valuation of eight of the top-10 most valued firms climbed Rs 2.90 lakh crore last week, with Reliance Industries emerging as the lead gainer, amid optimism in equities.
Last week, BSE benchmark Sensex jumped 1,384.96 points or 1.95 per cent.
From the top-10 pack, Reliance Industries, Tata Consultancy Services, HDFC Bank, ICICI Bank, Infosys, LIC, State Bank of India, and Hindustan Unilever were the gainers, while Bharti Airtel and ITC faced erosion of their valuation.
The combined market valuation of eight of the top-10 most valued firms stood at Rs 2,90,267.98 crore.
The market capitalisation (mcap) of Reliance Industries jumped Rs 1,38,290.85 crore to reach Rs 19,72,028.45 crore. Shares of the company jumped 7.54 per cent last week.
Tata Consultancy Services (TCS) added Rs 57,867.9 crore, taking its valuation to Rs 14,51,307.84 crore.
The market valuation of State Bank of India climbed Rs 33,467.29 crore to Rs 5,80,456.76 crore and that of Life Insurance ..
FPIs investment in debt market over 6-year high at Rs 19,800 cr in January (04-02-2024)
Foreign Portfolio Investors (FPIs) have injected over Rs 19,800 crore in the country’s debt market in January, making it the highest monthly inflow in more than six years, on the back of inclusion of Indian government bonds in the JP Morgan Index.
On the other hand, they pulled out Indian equities worth Rs 25,743 crore last month owing to surging bond yield in the US.
According to the data with the depositories, FPIs made a net investment of Rs 19,836 crore in the debt markets in January. This was the highest inflow since June 2017, when they infused Rs 25,685 crore.
Before this, FPIs injected Rs 18,302 crore in the debt market in December, Rs 14,860 crore in November, and Rs 6,381 crore in October.
“Indian fixed income markets witnessed robust net inflows from FPIs to the tune of USD 2.39 billion in January on the back of inclusion of Indian government bonds in the JP Morgan Index,” Himanshu Srivastava, Associate Director- Manager Research, Morningstar Investment Research India, .
RBI interest rate decision, global trends to dictate stock mkts: Analysts (04-02-2024)
Stock markets will be driven by quarterly earnings by index majors, global trends and the RBI’s interest rate decision this week after digesting news on budget proposals and US Federal policy outcome, say analysts.
The trading activity of foreign investors and the movement of global oil benchmark Brent crude would also dictate trends in equities.
“On the domestic front, the MPC (Monetary Policy Committee) meeting is scheduled from February 6-8. The Q3 quarterly results season will continue to remain in focus. Bharti Airtel, Power Grid, Nestle, Lupin and Tata Power will announce their results this week,” said Pravesh Gour, Senior Technical Analyst, Swastika Investmart Ltd.
Market participants will be keeping an eye on the movement of the rupee against the dollar and crude oil prices, Gour said.
Investments by Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) will also be monitored, he added.
“With the US Fed and interim Budget now behind, all eyes w
Northern Arc Capital files IPO papers with Sebi; to raise Rs 500 crore (03-02-2024)
Non-banking financial institution Northern Arc Capital Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial share-sale.
The Initial Public Offering (IPO) is a combination of fresh issue of equity shares worth Rs 500 crore and an Offer For Sale (OFS) of up to 2.1 crore equity shares by investor shareholders, according to the Draft Red Herring Prospectus (DRHP) filed with Sebi on Friday.
Those offering shares through the OFS include Leapfrog Financial Inclusion India (II) Ltd, Accion Africa-Asia Investment Company, Augusta Investments II Pte Ltd, Eight Roads Investments Mauritius II Ltd, Dvara Trust, and IIFL Special Opportunities Fund.
Northern Arc Capital may consider mobilising up to Rs 100 crore in a pre-IPO round.
Proceeds from the fresh issue will be used to meet future capital requirements of the company towards onward lending.
Registered with the RBI, the company is a non-deposit taking non-banking financial company and has
SBI Mutual Fund garners over Rs 900 crore from Nifty50 index fund NFO (03-02-2024)
The largest fund house SBI Mutual Fund has collected over Rs 900 crore through its new fund offer, the AMC said in a statement on Saturday.
The fund house said it has received more than 40,000 applications for the Nifty50 equal weight index fund, which closed on January 29.
The fund house recorded huge collections on the back of significant contributions from all distribution channels and a strong interest from the direct channel, it added.
The new fund is an open-ended scheme replicating or tracking the Nifty50 equal weight index, effectively with relatively lower cost as it is a passive offering.
The investment objective of the scheme is to provide returns that correspond to the total returns of the securities as represented by the underlying index, subject to tracking errors. The fund manager is Viral Chhadva.
BSE, NSE cut daily trading limit on Paytm shares to 10% after market rout (03-02-2024)
The new 10% limits will be applicable from Monday, the Bombay Stock Exchange and the National Stock Exchange said on their websites
Prismx Global Ventures reports consolidated net profit of Rs 1.46 crore in the December 2023 quarter (03-02-2024)
Sales decline 61.55% to Rs 2.73 crore