After jumping 369 points intraday, Sensex cooled off to close with a nominal gain of 52 points on August 19, mostly due to losses in shares of select heavyweights, including HDFC Bank, State Bank of India and ITC.The market remained in the positive terrain throughout the session, in sync with major global peers, which rose on hopes of stimulus measures by central banks, but experienced bouts of volatility in the late afternoon session as investors used the opportunity to sell some of their holdings.Close "The market failed to hold altitude as concerns over weakening economy persist. Moreover, delay in a formal announcement by the government about the fiscal stimulus is also making investors nervous," said G. Chokkalingam, Founder, Equinomics Research & Advisory. related news Market Live: Sensex, Nifty erase gains following inflation data; Airtel, IndusInd Bank top drags Hot Stocks: Nifty50 may have made a short-term top near 12,000 levels Early on D-Street | Nifty … [Read more...] about An evening walk down D-St: Sensex, Nifty erase most gains to end marginally higher
Indian equity market looks fragile at this juncture as global and domestic headwinds have eroded investors' risk appetite.At first glance, it appears that the trend of 'sell-on-rise’ is dominant as every one or two sessions of gain in the market is succeeded by a fresh wave of selling.While the worries over the US-China trade war remain, deteriorating domestic microeconomic health, plunging auto sales—a major indicator of the country's economic health—and the budget proposal of tax surcharge on super-rich have shaken India's position as an attractive market.Close "Markets mostly have been a one-way street since the presentation of Union Budget on July 5 when the government proposed to increase tax on foreign portfolio investors (FPIs) up to 42 percent," said Standard Chartered (India). related news 'India's long-term outlook is good; invest in these 5 stocks for double-digit returns' In Focus with Udayan Mukherjee | Can the stock market rally despite … [Read more...] about These 9 mid & smallcap stocks look attractive in a fragile market; do you own any?
After three days of gains, Sensex ended in negative on August 20, dragged by losses in bank, financial and energy heavyweights, including Reliance Industries, ICICI Bank and HDFC.After opening with gains, the market benchmark kept trading flat as investors kept awaiting government's clarity on reports of a corporate tax rate cut. Besides, the government is yet to reveal its cards on widely anticipated fiscal stimulus measure which is keeping investors on tenterhooks.Close "The market is awaiting a concrete move by the government on the front of economy. Also, there must be more clarity on the magnitude and timing of the reduction in tax rates," said Pankaj Pandey, Head of Research at ICICI Securities. related news Market Live: Sensex, Nifty erase gains following inflation data; Airtel, IndusInd Bank top drags Hot Stocks: Nifty50 may have made a short-term top near 12,000 levels Early on D-Street | Nifty vulnerable for more downsides unless it closes above 11,950 The … [Read more...] about An evening walk down D-St: Sensex, Nifty snap 3-day winning run; Yes Bank, DHFL fall up to 7%