Category: share-market

India's foreign exchange reserves surged by a whopping $10.47 billion to scale a two-year high of $636.1 billion for the week ended March 8, the latest data released by the RBI on Friday showed.

A sharp recovery was seen in the Nifty post noon on Wednesday. At close, Nifty was up 118 points, or 0.53 per cent, to close at 22,474.05 levels, said Deepak Jasani, Head of Retail Research at HDFC Securities.

BSE Sensex jumped more than 1,000 points on Friday reacting to India’s impressive GDP numbers. Sensex was trading up by 1045.99 points up by 1.44 per cent at 73,549.64 points.

In a volatile session, Nifty ended in the green on Thursday, touching a fresh record high helped by positive global cues, said Deepak Jasani, Head Retail Research at HDFC Securities.

Nifty extended its gains for the sixth consecutive session on Tuesday, once again touching a fresh record high in the last hour of trade, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Nifty ended higher for the fifth straight session on Monday after hitting an all-time high on the intra-day charts, said Deepak Jasani, Head of Retail Research at HDFC Securities.

Domestic equities gained for the fourth consecutive day on Friday, recovering more than 500 points or 2.3 per cent, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

The country’s merchandise imports also increased by 3.0 per cent in January 2024 to $54.41 billion but were lower than $58.25 billion in December 2023.

In early 2010, the Shanghai composite index was around 3,000. Now it is below that level at around 2,865: No return during the last 14 years. In sharp contrast, Nifty was around 5,000 in early 2010 and is now above 21,500, multiplying more than four times during 14 years, he said.

The weakness in the Sensex is led by the IT heavyweights with Infosys and Tech Mahindra down more than 1 per cent. The IT index is down more than 1 per cent.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services, said Nifty traded sideways for the most part of the session. However, last-hour selling led the index to close with a loss of 82 points.

Growth in India’s services sector rose to a 6-month high in January on the back of a higher demand and better outlook ahead, according to an HSBC report released on Monday.

This clearly shows that the GoI is totally committed towards the long-term macro-economic stability, even if it comes at the sacrifice of growth in the short-term, the report said.

Nifty bounced back from a weak start and closed with gains of 204 points at 21,726 levels on Wednesday, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

A tough battle unfolded in the market as the Nifty remained highly volatile throughout the day. The sentiment may continue to lean towards the bears as the Nifty struggled to surpass the 21,500 mark, where call writers held substantial positions, said Rupak De, Senior Technical Analyst, LKP Securities.

There is a sudden change in the strategy of the FPIs starting January 17 and they turned massive sellers in the cash market having sold equity worth Rs 24,147 crore in three days from January 17-19, says V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

An important trend in the market which has implications for retail investors is the revival of the tug of war between FIIs and DIIs, says V.K. Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Tech Mahindra is up more than 4 per cent, Wipro is up more than 4 per cent, TCS is up more than 3 per cent. BSE Sensex is trading up 631 points at 72,352 points.

The IPO market was very vibrant, following the bullish trend in the secondary market. 58 IPOs came to the market for subscription to raise funds worth Rs 48,000 crore against 40 IPOs last year (total issue size of Rs 64,000 crore).

Thanks to the dovish narrative from the US Fed at the Federal Open Market Committee (FOMC) meeting, the Nifty 50 on Thursday scaled to an all-time high level and crossed the 21,100-mark for the first time, said Pranav Haridasan, MD and CEO at Axis Securities.

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.

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 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.

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.

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.