Ajay Bodke & Dharmendra DaveNifty50 made a new high of 12,158 on November 28, 2019. However, on the same day, BSE Small Cap Index and BSE Midcap Index were still trading lower by 32 percent and 17 percent, respectively, from their respective highs of January 2018.Close Even the recent rally of little over 1,200 points in the Nifty between August and November 2019 has been so narrow that only 4 stocks (RIL, HDFC Bank, ICICI Bank and HDFC) contributed around 60 percent of the total rise with top 10 stocks contributing around 75 percent. related news Brokerages expect these 10 stocks could return 14-33% as market rally broadens in 2020 Yes Bank, Tata Motors among 5 stocks that are on experts' buy list Voltas share price gains 2% as analysts retain bullish stance after management meet During the same time, Midcap and Small-cap stocks continued to remain laggards. It would not be far fetched to say that this is the narrowest of the narrow rally that one has seen in … [Read more...] about This hotel stock is a hidden gem in smallcap space amid a narrow bull market
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How NRI bonds helped stem rupee fall in the past
The rupee touched an all-time low of 72.67 against the dollar on Monday and put the government in a tough spot. Since the beginning of the year, the rupee has fallen 13 percent, making it the worst performing Asian currency.Moneycontrol had first reported that the government may consider opting for overseas borrowing through Non-Resident Indian (NRI) bonds or deposit scheme. Apart from NRI bonds, the Centre and the Reserve Bank of India will take steps to narrow the current account deficit to contain rupee's fall.NRI bonds are forex deposits raised from non-resident Indians at attractive rates for a period of 3-5 years, with some lock-in and an implicit RBI guarantee. The government floats these bonds to get a foreign pension and institutional funds.Close Bank of America Merril Lynch said in a report last week that issuance of NRI bonds could help whip up $30-35 billion in the December quarter. related news Citizenship Act protest: Those indulging in arson 'can be … [Read more...] about How NRI bonds helped stem rupee fall in the past
‘If Nifty manages to stay above 11,695 in 2020, then it is a bull run’
For Nifty50, 11,695 is going to be the key level for 2020. The ongoing bull run can only be considered valid if it stays above this level, Gaurav Garg, Head of Research, CapitalVia Global Research, said in an interview with Moneycontrol’s Kshitij Anand.Edited excerpt:Close Q) Nifty50 is above 12,000 levels. Do you think the week macro data could spoil the party for bulls? related news D-Street Buzz: FMCG stocks under pressure led by HUL, ITC; Tech Mahindra, TCS up 2% each Voltas share price gains 2% as analysts retain bullish stance after management meet A) According to the data released by the National Statistical Office (NSO), India's retail inflation has surged to 5.54 percent in November, while factory output has gone down to 3.8 percent in October from 4.3 percent in September.These numbers are worse than those in the same quarter last year. All these factors tend towards a negative bias for market growth and could definitely spoil the chances of a major … [Read more...] about ‘If Nifty manages to stay above 11,695 in 2020, then it is a bull run’