Among sectors, Nifty Auto, Nifty PSU Bank and Nifty Pharma ended in green while Nifty IT, Nifty FMCG and Nifty Metal ended on the lower side, he said.
Category: BUSINESS
Benchmark indices at record highs, markets in overbought condition
The benchmark indices reached new record highs on Monday, with Nifty surpassing 20,650 and Bank Nifty achieving a record high, gaining 1617.20 points, said Mandar Bhojane, Research Analyst at Choice Broking.
Retail investor exuberance pushing up broader market
Retail investor exuberance is pushing up the broader market. Investors should not be blinded by the recency bias and chase small caps running away without fundamental support, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Superstar investors preference for companies with low or no debt
Mid and small-cap stocks, known for their higher risk-reward ratio, have delivered high returns to investors like Kedia. Two of his top three holdings have risen by almost 100 per cent over the last year.
October sees third highest monthly inflow into equity funds
India equity mutual funds got inflows worth Rs 19,957 crore in October, up from Rs 14,091 crore in September, and the month saw the third highest monthly inflow into equity funds in the year 2023, as per Deepak Jasani, Head of Retail Research, HDFC Securities.
Unacademy's Graphy slashes about 30% jobs amid restructuring
Edtech platform Unacademy-owned software-as-a-service platform Graphy has laid off about 20-30 per cent of its workforce, or nearly 50 employees, in the last few weeks, as part of a restructuring exercise, media report said on Thursday.
Sensex plunges more than 600 points to below 64K mark
The uncertainties associated with the Israel-Hamas conflict will continue to weigh on markets in the near-term, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Bitcoin rocketing higher, topping $35,000 for the first time since May 2022
BlackRock applied in June to register a bitcoin spot ETF, which is pending approval. The company is the largest provider of ETFs in the world, managing trillions of dollars of assets. A BlackRock bitcoin ETF would give the cryptocurrency a new sense of legitimacy.
India poised to surpass Japan to become world’s 3rd largest economy by 2030: S&P
India is likely to surpass Japan to become the world's third-largest economy with its GDP doubling to $7.3 trillion by 2030, according to the latest S&P Global Market Intelligence report.
Nifty nosedives to 3-month low; small & mid-caps fall sharply
Nifty nosedived 261 points (-1 per cent) to close at a three-month low of 19,281.75, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.
'Suspicious' payout that exposed Rs 16,000 cr scam bigger than PNB con
The police investigators said that the Safexpay’s Payout Platform was allegedly hacked by certain unknown entities, and the subsequent probe has shown that at least Rs 16,180 crore has been siphoned off, including some monies transferred abroad.
Israel-Hamas conflict negatively impacts market confidence
Nifty concluded on a downbeat tone, following the lead of the global market, with the majority of sectoral indices also doing so, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.
Financial stocks likely to face more selling pressure due to large FPI exposure
The market responds to economic headwinds more than geopolitical tensions. From that perspective, the sustained rise in US bond yields is becoming a major challenge for the US, and thereby for global markets, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Suzuki eyes to make India its global electric car manufacturing hub
Maruti Suzuki's parent Suzuki Motor Corporation plans to make India its global electric car manufacturing hub with the first batch of vehicles expected to be rolled out as early as 2025, according to a news report.
Nifty surpasses 19800 mark on all round buying
Benchmark indices closed higher on Tuesday with Nifty surpassing 19,800, thanks to widespread buying across various sectors, says Mandar Bhojane, Equity Research Analyst, Choice Broking.
Sitharaman calls for private sector capital funding for SDGs
Private sector capital must complement the efforts of governments and multilateral institutions in pursuit of sustained financing needed for sustainable development goals (SDGs), Finance Minister Nirmala Sitharaman said on Saturday.
Indian Oil, BPCL, HPCL to take a hit due to soaring crude prices: Moody’s
The report points out that the market margins of the three oil companies -- the difference between their net realized prices and international prices -- have already weakened significantly from the high levels seen in the April-June quarter of the current financial year.
In first four days of Oct, FPIs sold stocks for Rs 9,412 cr
The dominant factor impacting capital flows to markets in recent weeks has been the steadily rising US bond yields, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
RBI doubles gold loans limit to Rs 4L for UCBs under bullet scheme
The Reserve Bank of India (RBI) on Friday announced an increase in the monetary ceiling of gold loans that can be granted under the bullet repayment scheme from Rs 2 lakhs to Rs 4 lakhs for urban co-operative banks (UCB) who have met the overall PSL target and sub targets as on March 31, 2023.
RBI retains repo rate; GDP growth at 6.5%, inflation at 5.4%
Announcing the decision of the MPC after its three-day deliberations, RBI Governor Shaktikanta Das said on Friday that the committee unanimously decided to keep the repo rate at 6.5 per cent.
'Rs.18,000-22,000 crore impact on Indian GDP by World Cup Cricket'
The Cricket World Cup being held in India will impact the country’s gross domestic product (GDP) with an additional output of about Rs 18,000-22,000 crore and the gross value added (GVA) will be about Rs 7,000-8,000 crore and will have a very minimal impact on the inflation, said a report by two economists of Bank of Baroda.
RBI should hold repo rate, reduction in rate in near future preferable: Industry
The Reserve Bank of India’s (RBI) Monetary Policy Committee (MPC) is expected to retain the repo rate at the current level though a reduction in the rate in the near future is preferable, said officials in the real estate and financial services sectors.
Sensex falls below 65K mark as heavyweights under selling pressure
Axis Bank is down 3.6 per cent, Ultratech Cement is down 2.7 per cent, Indusind Bank is down 2.6 per cent, NTPC is down 2.5 per cent, SBI is down 2.5 per cent, L&T is down 2.3 per cent, Tata Steel is down 2.3 per cent, Bajaj Finserv is down 2.2 per cent, and Sun Pharma is down 2 per cent.
GST collections rise 2.2% to stand at Rs 1,62,712 crore in September
Out of the Rs 1,62,712 crore GST collections for September, CGST was Rs 29,818 crore, SGST was Rs 37,657 crore, IGST was Rs 83,623 crore (including Rs 41,145 crore collected on import of goods) and cess was Rs 11,613 crore (including Rs 881 crore collected on import of goods).
Commercial LPG cylinder price hiked by huge Rs 209 in setback to consumers
In a huge setback for millions of consumers, oil marketing companies (OMCs) have hiked the prices of commercial LPG cylinders by Rs 209, with effect from Sunday, according to industry sources.