Sensex

The Indian equity benchmarks closed higher for the third straight session on January 4, with the Sensex and the Nifty adding a percent each led by gains in power, oil & gas and banking names. After a flat start, the market resumed its upward march and remained in the positive terrain through the session to close near the day's high. The 30-share Sensex jumped 672.71 points, or 1.14 percent, to close at 59,855.93, while the Nifty gained 179.60 points, or 1.02 percent, at 17,805.30. "Tracking strong momentum of global peers, domestic bourses witnessed a smooth sail, steered by index heavyweights and gains in financials & consumer durables,” said Vinod Nair, Head of Research at Geojit Financial Services. Despite a surge Covid cases, investor sentiment remained positive as reports suggested a lower impact of the new variant on the global recovery, he said. Close "However, India’s unemployment rate rose to 7.9 percent in December as compared to 7 percent in … [Read more...] about Taking Stock | Sensex, Nifty up a percent each; oil & gas, power, banks gain

Indian benchmark equity indices continued the bull run for fourth straight session on January 5, with Sensex reclaiming the psychological 60,000-levels after the correction since October last year. The 30-share barometer touched an intraday high of 60,332.72, while the broader NSE Nifty scaled 17,944.70. On 20 December, Sensex and Nifty hit a low of 55132.68 and 16410.20 and since then they advanced 9.3% each. Analysts attribute gains in equities to improvement in key macroeconomic numbers, better than expected GST collections, improvement in auto monthly numbers and banking credit growth. Here's a look at the key drivers: GST Collection in December : Investors cheered the GST collection, which was above Rs 1 trillion for six month in a row. The GST collection for December month stood at 1.29 trillion, up 13% from a year ago. “Coupled with economic recovery, anti-evasion activities, especially action against fake billers have been contributing to the enhanced GST. The … [Read more...] about Sensex reclaims 60k-mark; key factors behind the bull run

Investors turned Happy and wealthy The benchmark indices rallied almost 9 percent from their December 20 lows, with the Nifty 50 inching towards 18,000 and the BSE Sensex trading above the psychological 60,000-mark for the first time since November 2021. The market reversed sharply after the recent fall, helping investors generate enormous wealth over 13 trading sessions. The rally was initially sector-specific and turned into a broad-based one with every sector participating on expectations there would not be any major lockdown as in 2020. Investor wealth during the period increased by Rs 20 lakh crore. The BSE’s market capitalisation jumped to Rs 272.4 lakh crore on January 5 from Rs 252.57 lakh crore on December 20. Strong bank credit growth, expected healthy earnings growth in the third quarter of FY22, a rally in global peers and consistent buying by foreign institutional investors (FIIs) after more than Rs 1 lakh crore of net selling in the fourth quarter of CY21 … [Read more...] about Sensex reclaims 60,000; investors generate Rs 20 lakh crore of wealth in 13 days

Allirajan M With the Sensex marching past the 44,000 mark for the first time early this week, equity mutual fund (MF) investors must be pondering whether it makes sense to take some profits off now. After all, the Sensex is up a whopping 71.6 percent since it went to its 52-week low of 25,638 in March. COVID-19 had just been declared a global pandemic, markets the world over were in shock and many nations around the world, including India, had imposed strict lockdowns to curb the spread of the virus. But things have changed ever since; the Sensex has been slowly but surely rising since the start of April. All the major equity MF categories have logged reasonable gains on a year-to-date basis. While many investors are busy trying to get into a running bus, searching for the next big investment idea, financial advisors suggest taking a cautious approach. It is time to take some money off equities as the markets have run up quite sharply, they say. Investors with no major … [Read more...] about Sensex at a new high: Should you take profits from equity funds now?

The market started off the second week of the year on a strong note with the BSE Sensex reclaiming 60,000 mark and the Nifty50 closing above the psychological 18,000-mark, on January 10, despite mixed trend in global markets. The broader market also traded in line with the equity benchmarks as the Nifty Midcap 100 and Smallcap 100 indices jumped 0.8 percent and 1.3 percent, respectively. At close, the Nifty50 rallied 190.60 points or 1.07 percent to 18,003.30, and the BSE Sensex jumped 650.98 points or 1.09 percent to 60,395.63 Here are four factors that pushed the market higher: Earnings Season Close The market seems to be hoping for yet another strong earnings season. The December 2021 quarter earnings season will kick off by the IT majors and HDFC Bank in the current week. Analysts expect double-digit growth in earnings, though it could be driven by few sectors and not broad-based due to expected margin pressure. "Overall the earnings are expected … [Read more...] about Nifty above 18,000, Sensex jumps over 650 pts: 4 factors fuelled the rally

The equity market is on a rise for the fourth straight session today with the Nifty50 index topping the 18,200 points and the BSE-Sensex gaining more than 500 points intraday. The risk appetite on Dalal Street has seen a sharp recovery with the turn of the year with gains being spread out across market segments. The Nifty Midcap 100 and Nifty Smallcap 100 index also rose 0.7 percent each, matching the gains on the Nifty50 index. “The market has sustained well above the 18,000 level. We should be looking forward to 18,400-18,500 as the next target. Since the market has good support at 17,700, any intraday correction should be used to accumulate long positions on the Nifty,” said Manish Hathiramani, technical analyst at Deen Dayal Investments. Let's look at the four major factors that are boosting the confidence of investors on D-Street. Receding Omicron Threat The emergence of the new COVID variant in late November was one of the primary drivers of the correction in the … [Read more...] about Nifty, Sensex rally enters fourth day. What’s driving the bulls on Dalal Street

A historical Budget saw an equally historic rise! Indian market snapped six-day losing streak to rise nearly 5 percent as investor cheered Budget proposals made by Finance Minister Nirmala Sitharaman on February 1. At close, the Sensex was up 2,314.84 points or 5 percent at 48600.61, and the Nifty was up 646.60 points or 4.74 percent at 14281.20. The Budget which comes in the backdrop of a pandemic-ridden year focused on six pillars- Health and Wellbeing, Physical and Financial Capital, and Infrastructure, Inclusive Development for Aspirational India, Reinvigorating Human Capital, Innovation and R&D and minimum government and maximum governance. Moreover, lack of taxation reforms also cheered the market. "Bank Nifty has been bucking the trend since the last couple of sessions, while the broader market was correcting brutally. This outperformance has now turned into leadership. Hence, staying beyond 33,000 unfolds fresh leg of the rally for the banking index. Above this, … [Read more...] about Taking Stock | Market gives a thumbs up to Budget 2021 as Sensex breaks 6-day losing streak to jump 2,300 pts

Market continued the winning momentum in the fifth straight session on January 13 but ended with marginal gains in a volatile day due to mixed microeconomic data and earning from top 3 IT companies. Market started on flat note amid mixed global cues and gyrated between gains and losses throughout the session with buying saw in the metal, pharma, and power names. At close, the Sensex was up 85.26 points or 0.14% at 61,235.30, and the Nifty was up 45.50 points or 0.25% at 18,257.80. "Markets consolidated in a narrow range and settled marginally higher, taking a breather after the recent surge. Initially, the upbeat start of the IT majors triggered a firm opening, however, profit taking in the banking space trimmed the gains in no time," said Ajit Mishra, VP - Research, Religare Broking. "The benchmark continued to trade lacklustre thereafter however movement in the metal and pharma space kept the traders’ busy." "Consequently, the Nifty index ended at 18,257 levels; up by … [Read more...] about Taking Stock | Sensex, Nifty end marginally higher in choppy trade; metals outperform

Every major correction in a bull run is a buying opportunity when the economy looks robust and major drivers of the market are on a swing, says Santosh Meena, Head of Research at Swastika Investmart. “I believe wealth management is the new theme that the market would like to bet on amid a rising financial awareness, thanks to technology. The penetration of this segment is very low in India and, therefore, the opportunity is huge,” says the seasoned technical and derivative analyst in an interview with Moneycontrol . Upbeat about the market dynamics, Meena sees the Sensex hovering on 71,000, and the Nifty breaching the 21,000 mark by end of 2022. Excerpts from the interaction: Companies will start releasing their December quarter earnings scorecard from the next month. What are your expectations? The third quarter earnings session is likely to be better than the second quarter because we have seen a pick-up in economic activities in this quarter and I believe … [Read more...] about Daily Voice | Sensex can hit 71,000 mark by the end of 2022, says Santosh Meena of Swastika Investmart

Shares of Reliance Industries Ltd., India’s largest company by market capitalisation, underperformed the benchmark S&P BSE Sensex and the Nifty 50 in 2021 for the first time in seven years. Reliance shares gained 19.3 percent in 2021, while the Nifty climbed 22 percent and the Sensex advanced 24.1 percent. The stock had declined 5.2 percent in November and 2 percent in December. The fall in the share price came after Reliance Jio Infocomm, the telecom unit, saw a reduction in subscribers and a delay in the launch of JioPhone, a low-cost smartphone. Analysts said the launch of JioPhone Next is unlikely to increase subscribers. “The new smartphone JioPhone Next plans are less aggressive than we expected,” Morgan Stanley said in a note to investors. “While the subscriber market share increase could be more measured, considering the handset price point, subscriber churns could be lower as well.” The re-evaluation of a proposed investment in Reliance’s oil-to-chemicals … [Read more...] about RIL shares trail Sensex, Nifty for first time in seven years