Category: share-market

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.

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.

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.

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.

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.

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.

Global sentiments have been dampened over sharp rise in Brent crude price which touched almost $98 per barrel and US 10 year bond yields continuing to hover above 4.5 per cent (16 year highs). 

A show-cause notice will also be sent to the company if it doesn't comply. The sum asserted in the DG Notice is calculated using the total gross bet value of all games played at the casinos during the applicable time, said Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.

Nifty continued its downward journey to close with a loss of 159 points (-0.8 per cent) at 19,742 levels, while Sensex plunged 570.60 points (-0.85 per cent) to settle at 66,230, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Even though the ‘hawkish pause’ from the Fed was on expected lines, the US markets reacted negatively since the indication from the Fed is that rates will remain ‘higher for longer’, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The markets fell with volumes on the NSE that were close to the highest in recent times. Broad market indices recovered part of the losses during the day and ended with lower losses than the Nifty even as the advance decline ratio fell to 0.54:1, Jasani said.

Concerns reigned over the upcoming Fed policy, interest rate trajectory and rising oil prices. Bank Nifty underperformed on Wednesday due to rising cost of funds and reduction in deposits leading to moderation in net yields, Nair said.

The hectic activity in the mid- and small-caps has pushed valuations in these segments to high levels. The sharp rise in many of these stocks has been driven by hope. It remains to be seen whether this hope will translate into reality. Execution challenges may arise.

There is a ‘triple danger’ looming over markets in the near-term: dollar index above 105, steadily rising US 10-year bond now around 4.39 per cent and the Brent crude above $94, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The level of pessimism has risen in the stock market, leading to a precautionary approach to book profits on a notion that the valuation has extended beyond the rationale, said Vinod Nair, Head of Research at Geojit Financial Services.

Nifty covered the 1000 point journey from 19000 to 20000 in 52 trading sessions and this positive momentum is likely to continue going ahead as well, says Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services.

Nifty advanced for the seventh straight day to log the best stretch of gains in 11 weeks and touched the all time high level of 20,000 on Monday (September 11), says Deepak Jasani, Head of Retail Research, HDFC Securities.

With monsoon gradually improving and India hosting G20 summit over the weekend, sentiments are buoyant and may lift market towards its life high and 20K mark over the next few days, he added.

Benchmark indices staged a smart afternoon rally on Thursday with the help of PSU and infrastructure stocks, said S. Ranganathan, Head of Research at LKP Securities.

The rally in Indian equities that has swelled the market’s total valuation by $775 billion in a little more than five months has been accompanied by a notable shift in investor preference to smaller stocks, a media report said.

Domestic equities closed positively for the third consecutive day on Tuesday led by optimistic domestic cues, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Nifty opened higher and held on to steady gains through Monday barring a small downmove in the morning. At close, Nifty was up 0.48 per cent or 93.5 points at 19,528.8, Deepak Jasani, Head of Retail Research, HDFC Securities, said 

Domestic markets made significant gains buoyed by favourable global cues, a higher-than-expected domestic manufacturing PMI, and positive GDP growth data, said Vinod Nair, Head of Research at Geojit Financial Services.

The benchmark indices ended in the red on Thursday on the back of concerns regarding 9 per cent deficit in monsoon as several states have witnessed scarce rainfall this month across many districts, said S. Ranganathan, Head of Research at LKP Securities.

An important feature of the market performance this year is India’s underperformance relative to the US, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.