Markets Insider News

Key equity index, Nifty50, hit its lifetime high while Sensex jumped 493 points to close at an 11-week high driven by favourable macroeconomic data and continuous foreign fund inflows. The Nifty climbed 134.75 points or 0.67% to settle at an all-time high of 20,267.90. During the day, the benchmark touched its intra-day record high of 20,291.55, up 158.4 points or 0.78%.

Equity benchmark indices, the Nifty and the Sensex, continued their winning streak for the fourth day running on Friday, with the Nifty hitting a record high. The market reading the state exit polls results indicating a high possibility of political stability. Moreover, the latest GDP reading has beaten RBI forecast indicating growth momentum.​

​​The combined market valuation of all listed companies on the leading stock exchange BSE reached the USD 4-trillion milestone for the first time ever on Wednesday. BSE-listed companies reached Rs 3,33,26,881.49 crore in morning trade on Wednesday. Other markets valued more than USD 4 trillion of m-cap include the US, China, Japan and Hong Kong.

The combined market capitalisation of BSE-listed firms hit an all-time high of Rs 331 lakh crore on Tuesday and is just shy of entering the landmark USD 4-trillion club. At the end of trade, the market capitalisation of BSE-listed companies reached Rs 3,31,05,425.71 crore, which translates to USD 3.97 trillion at the current exchange rate of 83.34, thanks to a fag-end recovery in the equity market after a highly volatile trade.

Foreign Portfolio Investors (FPIs) have pared their bearish stance on Indian equities during November as they made a net investment of Rs 378 crore on the sharp decline in US treasury bond yields. This came after FPIs dumped Indian equities worth Rs 24,548 crore in October and Rs 14,767 crore in September, data with the depositories showed.

According to Morgan Stanley, the market is likely to price in continuity and a majority government, leading to a rise in equities. It forecasts a 14% upside to the BSE Sensex by December 2024 in their base case scenario. This is based on assumptions of continuity in the government with a majority mandate, stable policy, robust domestic growth, and benign oil prices.

Benchmark stock indices, the Nifty and the Sensex, rebounded on Tuesday after two days of decline following buying in metal, banking and energy shares and a bullish trend in the US markets. Among the Sensex firms, JSW Steel, Titan, Tata Steel, Sun Pharma, Reliance Industries, Bharti Airtel, Tata Motors and HDFC Bank were the biggest gainers.

The combined market valuation of seven of the top 10 valued firms climbed Rs 1,50,679.28 crore last week, with IT majors Tata Consultancy Services (TCS) and Infosys emerging as the biggest gainers, amid an overall optimistic trend in equities.

India could well be on its way to becoming another China. India will potentially lead the new era of equities in Asia, says Morgan Stanley in its outlook for 2024. India’s weightage on the MSCI All Country Asia Pacific Index (excluding Japan) has sharply risen by 4 percentage points to 10% in October 2023 from 6% in 2021.

Equity benchmark indices, the Nifty and the Sensex declined in early trade on Friday but recovered amidst volatility. The Nifty Bank is down a percent in trade after RBI tightened norms on personal loans late evening on Thursday. Axis Bank, SBI, Bajaj Finance, Bajaj Finserv, HDFC Bk and ICICI Bk are the biggest laggards.

The shareholding pattern of NSE500 stocks has witnessed significant changes in recent months, with foreign investors (FIIs) and mutual funds (MFs) increasing their respective holdings. Like retail investors, foreign investors too like small and midcap stocks. FII holdings are still significant in midcaps at 13.8% and have risen by 1.1 percentage point in the last six months

Earnings of India’s top 50 listed companies delivered stellar earnings during the September quarter, with many reporting surprisingly hefty profits. Five biggies accounted for 68% of the incremental accretion in earnings during the quarter. The auto sector posted a massive 112% year-on-year rise in profit growth, which was primarily led by Tata Motors, M&M and Maruti.

​​Benchmark equity indices, the Nifty and the Sensex, declined in early trade on Thursday amid weak trends in Asian markets, but soon bounced back to quote in the positive territory. Bajaj Finance, Power Grid, Bajaj Finserv were the main laggards in trade. NTPC, Tata Consultancy Services, Tata Motors were among the top gainers.

Protean eGov Technologies listed at 3% premium on Monday on the first day of Samvat 2080. The grey market is expecting 10% listing gains from the stock. The stock listed at ₹819 as compared to its issue price of ₹792 per share. Its market cap is at ₹3,307 crore, according to Bombay Stock Exchange. The stock listed only on BSE. The ₹490 crore IPO was subscribed 23.86 times the shares on offer. Most of the interest came from qualified institutional buyers (QIBs) as this portion was subscribed 46 times.

​​Benchmark equity indices, the Nifty and the Sensex, declined in early trade on Monday amid weak trends in Asian markets and unabated foreign fund outflows. Bajaj Finance, Infosys, ICICI Bank were the major laggards. NTPC, IndusInd Bank, Sun Pharma were the top gainers. The 50DMA at 19570 remains a stiff challenge, as per market watchers.

It's a bright start to Samvat 2080 for Indian stocks. Benchmark indices soared substantially to brighten the investors' fortune during the stipulated one-hour Muhurat trading on Diwali evening. During this one-hour window, investors placed orders for stocks according to their wishes which they believe to be auspicious and would bring in good returns.

The combined market valuation of four of the top-10 most valued firms fell by Rs 23,417.15 crore last week, with IT majors Infosys and Tata Consultancy Services (TCS) taking the biggest hit. Last week, the BSE benchmark advanced 540.9 points or 0.84 per cent. The market valuation of Infosys fell by Rs 8,465.09 crore to Rs 5,68,064.77 crore, the most among the top-10 firms.

Retail investors continue to be bullish on equities, going by the data released by the Association of Mutual Funds of India (AMFI). Retail investors have played a significant role in supporting markets, with inflows touching Rs 108,517 crore being pumped into equity oriented schemes in the first nine months of the year. Small cap funds continue to be the preferred investment option for investors.

A move towards same day settlement on a split and optional basis raises concerns about dividing the market from institutional investors. Sebi is likely to issue a consultation paper on how markets can move to instantly settle stock transactions. Concerns around "market fragmentation" are taking centre stage as the move may lead to two settlement cycles.

The Halloween Effect is nothing but an indicator that equity markets deliver returns between November and April more than they do between May and October. So the question is whether the Halloween Effect will kick in this year too. According to analysis done by JM Financial’s technical research team, Nifty has shown relatively average seasonality.

​Benchmark indices, the Sensex and the Nifty, rallied for a third straight session on Monday, closing higher by nearly 1% on gains in IT, private banks and capital goods shares amid favourable trends in global markets. Larsen & Toubro, Axis Bank, Tata Steel were some of the top gainers in Monday trade. State Bank of India, Hindustan Unilever, Tata Motors were the main laggards.

Indian benchmark equity indices, the Sensex and the Nifty, rebounded nearly 1% on Thursday after a two-day decline, following a rally in global markets amid the US Federal Reserve keeping rates unchanged. The Nifty climbed 144.10 points or 0.76% to 19,133.25. IndusInd Bank, Tata Steel, Tata Motors were the major gainers in trade.