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Tag: Sensex

  • Sensex, Nifty Seen Lower With Earnings In Focus

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    Indian shares look set to open on a sluggish note Friday after TCS and Tata Elxsi reported disappointing earnings results.

    TCS beat revenue estimates for Q2FY26, but severance costs dented profit. Tata Elxsi reported a fourth straight quarter of widening profit fall as its key transportation business declined amid the impact of U.S. tariffs.

    Benchmark indexes Sensex and Nifty rose around half a percent each on Thursday, after having snapped their four-day winning run the previous day. The rupee fell by 4 paise to close at 88.79 against the dollar.

    Foreign institutional investors (FIIs) were net buyers of shares to the extent of Rs 1,308.16 crore on Thursday, while domestic institutional investors (DIIs) net bought shares to the tune of Rs 864.36 crore, according to provisional exchange data.

    Asian stocks were lower this morning on concerns over stretched valuations, even as Seoul markets rose sharply as traders returned from holidays.

    The dollar dipped after a four-day rally took it to its strongest level since July. Gold was slightly lower below $4,000 an ounce after having fallen 2 percent on Thursday, the most since August.

    Oil steadied after falling more than 1 percent in the previous session amid cooling tensions in the Middle East.

    Overnight, U.S. stocks ended slightly lower after a week of record-breaking gains. Caution crept in as IMF and JPMorgan Chase warned of potential market correction, and the U.S. government shutdown entered its ninth day with no end in sight.

    Meanwhile, with three weeks until the Federal Reserve’s next policy meeting, New York Federal Reserve President John Williams signaled he would be comfortable cutting rates again.

    On the contrary, Fed Governor Michael Barr leaned heavily into the risks of inflation. Fed Chair Jerome Powell provided no new policy updates.

    The tech-heavy Nasdaq Composite finished marginally lower, the S&P 500 gave up 0.3 percent and the Dow shed half a percent.

    European stocks fell from record levels on Thursday amid renewed concerns about the political situation in France.

    The pan-European Stoxx 600 dropped 0.4 percent. The German DAX edged up marginally, while France’s CAC 40 slid 0.2 percent and the U.K.’s FTSE 100 dipped 0.4 percent.

    For comments and feedback contact: editorial@rttnews.com

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  • Sensex, Nifty Seen Tad Higher With Earnings In Focus

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    Indian shares are likely to open a tad higher on Thursday as investors brace for the September-quarter earnings season, with TCS, India’s largest IT services company, scheduled to report results after the market close later today. Tata Elxsi and GM Breweries are also due to report their quarterly earnings results.

    Meanwhile, Union Commerce and Industry Minister Piyush Goyal on Wednesday said no power on earth can stop India from becoming a developed nation by 2047 and that the government is taking a series of initiatives to promote the domestic economy, build infrastructure and expand international trade.

    He also said that India and the U.S. are in continuous dialogue on the proposed bilateral trade agreement, and all possibilities exist to meet the November deadline for concluding the talks.

    Benchmark indexes Sensex and Nifty ended down around 0.2 percent each on Wednesday to snap their four-day winning run. The rupee fell by 3 paise to close at 88.80 against the U.S. dollar.

    Foreign institutional investors (FIIs) were net buyers of shares to the extent of Rs 81 crore on Wednesday, while domestic institutional investors net bought shares to the tune of Rs 330 crore, according to provisional exchange data.

    Asian markets were mixed this morning as China returned from holidays. Traders are seeking clues about potential policy changes after the Golden Week results indicated that consumer spending in China remains weak.

    The dollar held steady and was on track for its best week in nearly a year as the U.S. government shutdown stretched into a ninth day.

    Gold traded lower but still traded above $4,000 an ounce. Oil prices fell as Israel and Hamas agreed to the “first phase” of U.S. President Donald Trump’s peace plan to pause fighting and release at least some hostages and prisoners, making a major breakthrough in the U.S.-brokered negotiations to end their two-year war.

    Overnight, U.S. stocks ended broadly higher, with tech stocks leading the way after reports suggested that Nvidia will invest $2 billion into a $20 billion equity and debt funding round for Elon Musk’s AI venture.

    On the economic front, data showed home loan applications in the U.S. declined for a second week in a row, but at a slower pace.

    The minutes covering the Fed’s Sept. 16-17 policy meeting signaled more rate cuts could be in play for the rest of 2025 despite steep divisions within the central bank about the outlook for jobs and inflation.

    The tech-heavy Nasdaq Composite and the S&P 500 gained 1.1 percent and 0.6 percent, respectively to reach new record closing highs while the narrower Dow ended marginally lower.

    European markets closed on a firm note on Wednesday after the European Commission proposed measures to protect the EU’s domestic steel industry.

    The pan-European Stoxx 600 advanced 0.8 percent. The German DAX climbed 0.9 percent, France’s CAC 40 rallied 1.1 percent and the U.K.’s FTSE 100 added 0.7 percent.

    For comments and feedback contact: editorial@rttnews.com

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  • ‘Worst broker ever’: Kotak Securities app users rush to Twitter to vent fury amid tech glitches all day

    ‘Worst broker ever’: Kotak Securities app users rush to Twitter to vent fury amid tech glitches all day

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    With Kotak Neo app beset by tech glitches for whole day, many investors and traders on Monday took to Twitter to vent their anger. Users said they were unable to place orders, or square off positions as the app wasn’t working the whole day.

    At 11:40 am on Monday, Kotak Securities took to the micro-blogging site to provide an update. “We’re facing issues with the NSE adapter and NSE orders in Kotak Neo currently. The trades in BSE are working fine. The team is actively working on resolving the issue. We regret the inconvenience caused,” it said.

    However, even at 9:15 pm, Kotak Securities responded to a user admitting the glitches continue to persist. “Hello, we are extremely apologetic for this. We completely understand your side and the team is working on this. We are trying to ensure such instance does not repeat,” it said. 

    “This must be the first time in Indian Stock Exchange history that a broker was down for the full day. Very bad service” wrote a Twitter user while tagging Kotak Securities. 

    “Anyone facing problem with order placing in Kotak ? Third time in a row this is happening,” said another hassled user of the app.

    “2022 Worst broker award goes to @kotaksecurities,” said another user.

    An options trader said option price wasn’t getting updated since 45 minutes. Another options trader said he wasn’t able to book profit on Monday and faced a similar situation on Thursday. 

    “How can Kotak just release a product with so many faults and not take any accountability?,” asked an user of Kotak Neo.

    Many traders also posted screenshots of the losses incurred as they were not able to square off their positions on time.

    “This (app glitch) is the heights of carelessness and unprofessionalism,” said another user.

    Last month, markets watchdog directed stock exchanges to impose “financial disincentives” on stock brokers for technical glitches at their end, amid instances of snags at the brokers’ end impacting the overall trading system.

    Besides, the stock brokers would have to inform the bourses within one hour of any glitch happening in their trading sysstems as well as submit a preliminary incident report in one day.

     As part of tightening the regulations, Sebi also said that the bourses should disseminate on their websites the instances of technical glitches occurring in the trading systems of stock brokers along with the Root Cause Analysis (RCA) of such issues. The new framework would be effective from April 1, 2023, the Securities and Exchange Board of India (Sebi) said in a circular.

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  • Nifty and Sensex posted second consecutive weekly gains after hitting all time highs amid signals of cooling off global inflation

    Nifty and Sensex posted second consecutive weekly gains after hitting all time highs amid signals of cooling off global inflation

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    The Federal Open Market Committee (FOMC) minutes which hinted towards a less hawkish approach in the coming policies are expected to start a rally in global equities. While in the domestic market, India’s forex reserves have grown by $2.537 billion to $547.252 billion for the week ended November 18. Some optimism also came as Fitch Ratings said India’s bank credit will see strong growth in the current financial year despite effects of higher interest rates.

    Added to that Foreign portfolio investors have infused funds worth Rs 32,344 crore in Indian stock markets so far in November and became net buyers again along with this market participants also turned bullish with S&P Global Ratings’ latest report that the global slowdown will have less impact on domestic demand-led economies such as India, Indonesia and the Philippines. These positive signals helped the BSE Sensex to gain 574.86 points, or 0.92 per cent, at 62,868.5 during the week ended December 02, while the Nifty inclined 183.35 points, or 0.99 per cent, to 18,696.1.

    Market veteran Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said: “Nifty and Sensex gained around 0.8% in the past week creating all-time highs. The BSE Midcap Index gained 1.63% while the BSE SmallCap Index gained 1.94%. A steady softening of global bond yields on expectations of ‘peak’ inflation and a decline in crude prices, helped equity markets continue the momentum and helped the Nifty-50 Index log its new all-time high on a closing basis.”

    “FPIs were net buyers in the past five trading sessions, while DIIs were net sellers in the same period. Going forward, D-street will focus on macro trends. Going ahead, markets may be dominated by global news flows and steps taken by different governments to tackle their economies. On the economy front, Q2FY23 real GDP grew by 6.3%, while GST collections for October (collected in November) stood at Rs1.469 lakh cr (September: Rs1.517 lakh cr)” Chouhan added.

    As many as 41 stocks in the Nifty 50 index delivered a positive return to investors in the passing week. With a gain of (5.8 per cent), Britannia Industries emerged as the top gainer in the index. It was followed by Tata Steel (up 5.5 per cent), Ultratech Cement (up 5.3 per cent), Bharat Petroleum Corporation (up 5.1 per cent), and Grasim Industries (up 5.0 per cent).

    SBI Life Insurance Company, Hindalco Industries, Hero MotoCorp and Reliance Industries also advanced by over 4 per cent. On the other hand, Eicher Motors, Maruti Suzuki India and Coal India declined 2.4 per cent, 2.2 per cent and 2.1 per cent, respectively.

    Sector-wise, the BSE Realty index gained 4.2 per cent during the week gone by. BSE Metal has also given a 3.4 per cent return. While, BSE Fast Moving Consumer Goods, BSE Information Technology, BSE Oil & Gas, BSE Carbonex, BSE Teck and BSE Healthcare indices also surged more than 1 per cent during the week.

    Market strategist Vinod Nair, Head of Research at Geojit Financial Services, said: “The rally in the domestic market was halted by negative cues from global counterparts and broad-based profit booking in large caps. The correction in the market was led by auto stocks as the sales data came in lower than expected due to weaker exports and sequential de-stocking. Declining manufacturing activity in the US is proof that the central bank’s policy tightening has started to show results, which in turn will encourage the Fed to keep rate hikes at bay.”

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  • Nifty and Sensex regained strength amid Dovish US Fed remarks, strong domestic macros

    Nifty and Sensex regained strength amid Dovish US Fed remarks, strong domestic macros

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    Indian equity benchmarks regained the lost ground by recapturing positive momentum after a week of halt boosted by an advance in global risk assets after Federal Reserve meeting minutes showed support for smaller rate hikes from now on. Also, the Organisation for Economic Cooperation and Development (OECD) in its latest report states that India, with a growth rate of 6.6 per cent in this financial year, is set to be the second-fastest growing economy in the G20 in FY 2022-23 behind Saudi Arabia, despite decelerating global demand and the tightening of monetary policy to manage inflationary pressures.

    While Revenue Secretary Tarun Bajaj has said India’s tax collection will exceed the budget estimate by nearly Rs 4 lakh crore in the current fiscal on the back of buoyant income tax, customs duty and GST mop-up. These positive signals helped the BSE Sensex to gain 630.16 points, or 1.0 per cent, at 62,293.64 during the week ended November 25, while the Nifty inclined 205.10 points, or 1.1 per cent, to 18,512.75.

    Market veteran Shrikant Chouhan, Head of Equity Research (Retail) at Kotak Securities, said: “A steady softening of global bond yields on expectations of ‘peak’ inflation and a decline in crude prices helped equity markets continue the momentum and helped the Nifty-50 Index log its new all-time high on a closing basis. FPIs were net sellers in the past five trading sessions, while DIIs were net buyers in the same period. Going forward, D-street will focus on the macro trends. Markets going ahead may be dominated by global news flows and steps taken by different governments to tackle their economy.”

    “In the US Federal Reserve officials expect to switch to smaller interest rate increases “soon,” according to minutes from the November meeting released Wednesday. Some officials expressed concern over the impact rate increases could have on financial stability and the economy. In Asia, Mainland China reported more than 31,000 Covid infections on Wednesday, including cases without symptoms. That’s more than the country reported during the Shanghai lockdown in April. In Japan, Tokyo saw the highest core consumer price index reading since 1982” Chouhan added.

    As many as 41 stocks in the Nifty 50 index delivered a positive return to investors in the passing week. With a gain of (10.3 per cent), HDFC Life Insurance company emerged as the top gainer in the index. It was followed by Apollo Hospitals Enterprise (up 8.7 per cent), Bharat Petroleum Corporation (up 6.7 per cent), IndusInd Bank (up 5.3 per cent), and Axis Bank (up 3.3 per cent).

    Mahindra & Mahindra, NTPC, JSW Steel and Sun Pharmaceutical Industries also advanced by over 2.5 per cent. On the other hand, Nestle India, Kotak Mahindra Bank and Bajaj Finserv declined 2.1 per cent, 1.6 per cent and 1.3 per cent, respectively.

    Sector-wise, the BSE Information Technology index and BSE Teck index both gained 1.9 per cent during the week gone by. BSE Oil & Gas has also given a 1.8 per cent return. While, BSE Auto, BSE Capital Goods, BSE Metal, BSE Carbonex, BSE Healthcare and BSE Bankex indices also surged more than 1 per cent. While BSE Power and BSE Realty indices declined 2.1 per cent and 0.9 per cent respectively during the week.

    Market strategist Deepak Jasani, Head of Retail Research at HDFC Securities, said: “Nifty gained 1.12% over the week rising in 5 out of past 6 weeks. Global markets traded largely unchanged Friday in thin trading conditions even as they gained for the week. Nifty could continue its upmove and challenge the all time high of 18604 soon while 18325-18403 band could provide support in the near term.”

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  • Sensex, Nifty: Key factors that may influence Dalal Street this week

    Sensex, Nifty: Key factors that may influence Dalal Street this week

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    The coming week is likely to be a volatile one for local equity markets on account of the F&O (Futures and Options) expiry, which is scheduled to take place on November 24, 2022. On the economic data front, market participants will be eyeing foreign exchange reserves data to be out on November 25 for further cues. Foreign exchange reserves in India decreased to $529.990 billion on November 4 from $531.080 billion in the previous week. Meanwhile, the trend in investment by foreign institutional investors and the movement of the rupee against the dollar will also be closely watched by the market participants.

    Dr. Joseph Thomas, Head of Research, Emkay Wealth Management, said: “Markets will look forward to the developments in Europe and the statements from leading Fed officials on the future stance of the Federal Reserves. Though price pressures have ebbed, the retail inflation numbers are too high for the comfort of the central banks, especially in the US and India.”

    At the same time, he further said, the prominent view is that probably inflation has peaked and that central banks might still hike rates but the quantum of hikes would be more moderate. “Some signs of sluggishness in growth could set in soon due to the aggressive rate action in the last few months. Markets would focus on the actual numbers to get a sense of the trajectory of inflation and official policy as well,” Thomas said.

    On the global front, investors would be eyeing a few economic data from the world’s largest economy, the United States (US), starting with Chicago Fed National Activity Index on November 21, Redbook and Fed Mester Speech on November 22, API Crude Oil Stock Change, Initial Jobless Claims, S&P Global Manufacturing PMI, S&P Global Services PMI, S&P Global Composite PMI, New Home Sales, EIA Crude Oil Stocks Change, Baker Hughes Total Rig Count on November 23, and FOMC Minutes on November 24.

    Vinod Nair, Head of Research at Geojit Financial services, said: “During the week, the direction of the domestic market was largely driven by the trend of global peers. Global markets were surging in the expectation that the Fed will scale back its aggressive rate hike in reaction to easing U.S. inflation data. However, the euphoria was dashed by better U.S. retail sales in October and aggressive remarks from Fed officials. Domestic CPI inflation has moderated to 6.8% owing to declines in food and commodity prices, however, it remained above the RBI’s tolerance level. The CPI is estimated to fall within the range from Q1 FY24.”

    “Although domestic macroeconomic indicators and FII inflows are favourable, negative vibes from global markets and premium valuation compared to peers, the domestic market traded with caution. In the absence of major domestic triggers, the domestic market is expected to continue its focus on global trends. Considering the current market scenario, a balanced approach with a mix of equity & debt, 60:40 for an average risk-averse investor, is advised as interest yields are becoming attractive, and the economy is slowing,” Nair added.

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  • Mazagon Dock, Alembic Pharma, Adani Enterprises among 30 BSE500 stocks that gained up to 22% this week

    Mazagon Dock, Alembic Pharma, Adani Enterprises among 30 BSE500 stocks that gained up to 22% this week

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    The Indian market ended in the green for the week buoyed by positive global cues. While Sensex gained 990.30 points or 1.65 per cent to 60,950, Nifty climbed 1.86 per cent or 330 points to 18,117.

    At least 30 stocks rose between 10 per cent to 22 per cent on the BSE 500 index in the last five trading sessions.

    Top gainer was Mazagon Dock Shipbuilders rising 21.93 per cent during the week to close at Rs 781.20. The stock also hit its 52-week high of Rs 798.50 on November 3 (Thursday).

    On a daily basis, the stock ended 3.63 per cent or Rs 27.40 higher on Friday.  It also touched an intraday high of Rs 792.50. Market cap of the firm rose to Rs 15,756 crore. The stock gained 22.74 per cent in the last four trading sessions. The company will announce its September quarter earnings on November 10, 2022.

    Shares of Alembic Pharmaceuticals were the second largest gainers on BSE 500 rising 19.37 per cent during the week. On a daily basis, the stock ended 0.36 per cent or Rs 2.40 lower on Friday. It also touched an intraday low of Rs 642.45 falling 2.49 percent in the last trading session. Market cap of the firm fell to Rs 12,903 crore. The stock fell on Friday after six sessions of gains. The company will announce its September quarter earnings on November 11, 2022

    Redington stock also gained 16.53 per cent during the week to close at Rs 158.20. On a daily basis, the stock ended 0.73 per cent or Rs 1.15 higher on Friday. It also touched an intraday high of Rs 164.45 rising 4.71 percent in the last trading session. Market cap of the firm rose to Rs 12,362 crore. The stock has risen consecutively for the last five sessions. The company reported a 26% rise in consolidated net profit to Rs 387 crore on a 25% increase in revenue to Rs 19,080.8 crore in Q2 FY23 on a year-on-year basis.

    Shares of Indian Overseas Bank climbed 16.08 per cent during the week to close at Rs 21.65. The banking stock touched an intraday high of Rs 21.9, rising 13.18% on BSE. Later, it closed 11.89 per cent higher on Friday. Market cap of the bank rose to Rs 38,750 crore. The stock has risen 15.78 per cent in the last two sessions. The lender will announce its September quarter earnings on November 5 (today).

    Shares of Adani Enterprises climbed 15.24 per cent during the week to close at Rs 3,832.5. The large cap stock touched an intraday high of Rs 3,850, rising 7.21% on BSE. Later, it closed 6.72 per cent higher on Friday. Market cap of the Adani Group firm rose to Rs 38,750 crore. The stock has risen 16.13 per cent in the last seven sessions. The company announced its September quarter earnings on November 3. Consolidated profit in Q2 jumped 117 per cent year-on-year (YoY) to Rs 461 crore from Rs 202 crore in the corresponding quarter last year. Consolidated total income for the quarter surged 183 per cent YoY to Rs 38,441 crore compared with Rs 13,597 crore in the same quarter last year. The top line growth was led by a strong show at IRM and Airport business.

    Other stocks which rose between 10% to 15% during the week were UCO Bank, Bank Of India, JK Lakshmi Cement, Dalmia Bharat Ltd., Punjab & Sind Bank, Rajesh Exports Ltd, Rail Vikas Nigam Ltd, Amara Raja Batteries, Vedanta Ltd, FSN E-Commerce Ventures Ltd., Lemon Tree Hotels Ltd, MAS Financial Services, Delhivery, Jindal Stainless, Thermax, Ircon International, Cochin Shipyard, Godfrey Phillips India, Bank Of Maharashtra, Heidelberg Cement India and Aster DM Healthcare.

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  • Weekly Market Wrap: Nifty, Sensex posted gains in 2nd straight week as US GDP growth eases recession fears

    Weekly Market Wrap: Nifty, Sensex posted gains in 2nd straight week as US GDP growth eases recession fears

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    The BSE Sensex gained 652.70 points, or 1.1 per cent, at 59,959.85 during the week ended October 28, 2022, while the Nifty inclined 210.5 points, or 1.2 per cent to 17,786.80. Market participants got some encouragement as US GDP growth of 2.6 per cent in the third quarter and falling crude oil prices eases recession fear. Also, a report from a private rating agency states that the Indian economy’s recovery from the coronavirus pandemic, as well as the pace of the economy is better as compared to global peers despite headwinds such as high inflation, monetary policy tightening, rising interest rate, and the Russia-Ukraine war.

    Market veteran Vinod Nair, Head of Research at Geojit Financial Services, said: “The domestic market remained flat with a positive bias during the week as favourable domestic cues were countered by mixed global mood. The US GDP grew by 2.6 per cent during the quarter that ended in September. However, it failed to lift the market as US tech stocks saw a significant sell-off following disappointing quarterly results and a bleak forecast. The ECB raised interest rates by 75 basis points, also signalling that it is making progress in combating record inflation, though the plausibility of a recession grew.”

    “The expectation that the central banks would slow down the pace of rate hikes from the beginning of CY23 gave comfort to the global markets. As a result, bond yields across the globe softened, with the US 10yr yield diving below 4 per cent. The strengthening rupee, along with a softening treasury yield and decent Q2 earnings results, will support the domestic market in the near term”, he added.

    As many as 40 stocks in the Nifty 50 index delivered a positive return to investors in the passing week. With a gain of (9.1 per cent), Maruti Suzuki India emerged as the top gainer in the index. It was followed by JSW Steel (up 7.8 per cent), NTPC (up 5.5 per cent), Larsen & Toubro (up 5.3 per cent), and Power Grid Corporation of India (up 4.5 per cent).

    Mahindra & Mahindra, Apollo Hospitals Enterprise and Shree Cement also advanced by over 4 per cent. On the other hand, Hindustan Unilever, Bajaj Finance, and HDFC Life Insurance Co declined 4.9 per cent, 2.5 per cent and 2.2 per cent, respectively.

    Sector-wise, the BSE Auto index gained 3.9 per cent during the week gone by. BSE Oil & Gas index has also given a 3.3 per cent return. While BSE Capital Goods, BSE Metal, BSE Power and BSE Realty indices also surged more than 2 per cent. In contrast, the BSE Fast Moving Consumer Goods index has declined by 1.0 per cent.

    Market watcher Rupak De, Senior Technical Analyst at LKP Securities, said: “Nifty remained volatile during the day before closing on a muted note. The consolidation continued as the index failed to give any directional move. On the daily timeframe, the index has sustained above the crucial moving average, confirming the short-term uptrend. Over the short term, the trend may remain sideways to positive. On the lower end, support is visible at 17,700/17,550; resistance on the higher end is placed at 17,850/17,950”.

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