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Tune in for a Moneycontrol newsbreak, now confirmed - the acquisition of Encora by IT services firm Coforge. Also find an analysis on how big tech was bullish on Indian talent despite visa curbs and what hiring shifts are in store. Besides: why was it a mixed year for India's richest families, what the soon to be 40-year-old BSE SENSEX has meant for Indian markets, a guidebook for Indian investors in 2026 and how Ranveer Singh is a superstar in the making after Dhurandhar's stupendous success. All this and more in today's Moneycontrol Editor's Picks.

This is the Catchup on 3 Things by The Indian Express and I'm Flora Swain.Today is the 1st of April and here are the headlines.Domestic Stock Market Crashes Ahead of Trump's Tariff AnnouncementOn Tuesday, Indian stock markets experienced a sharp decline due to massive selling, driven by uncertainty over the upcoming US President Donald Trump's reciprocal tariffs set to be implemented on April 2. The BSE Sensex plunged by 1.69%, losing 1,313 points, while the Nifty fell by 1.41%, down 332 points. Investors are awaiting details on how these tariffs will impact various sectors globally, with market reactions likely hinging on the specifics of the tariff announcement tomorrow, said VK Vijayakumar, Chief Investment Strategist at Geojit Investments.Assam CM Condemns Bangladesh Official's Statement on Northeast IndiaAssam Chief Minister Himanta Biswa Sarma strongly condemned the statement by Bangladesh interim government advisor Muhammad Yunus, who claimed that Bangladesh is "the only guardian of the ocean" for Northeast India. Yunus had stated that Bangladesh holds a unique position to benefit from the economic possibilities of the region. Sarma called the remark offensive, highlighting its connection to India's vulnerable "Chicken Neck" corridor, which connects the Northeast with the rest of India, emphasizing India's territorial integrity and strategic concerns.Ruckus in Lok Sabha Over Question Hour AdjournmentA heated scene unfolded in the Lok Sabha after the Question Hour concluded, with Samajwadi Party MPs protesting the decision and demanding that Akhilesh Yadav be allowed to speak. Despite Speaker Om Birla assuring that Yadav would get time during Zero Hour, the MPs continued with slogans and placards, leading to the adjournment of the House until 2 pm. In the Rajya Sabha, Congress leader Mallikarjun Kharge called for an immediate decadal census and caste census, highlighting the delay's impact on welfare schemes. The Waqf (Amendment) Bill is scheduled for discussion tomorrow.Mohali Court Sentences Pastor to Life for 2018 Rape CaseBajinder Singh, a self-proclaimed Christian pastor, was sentenced to life imprisonment in a rape case dating back to 2018 by a Mohali court. Singh had been convicted for luring a woman under the pretext of helping her settle abroad, only to rape her and threaten to post a video of the act online. The court convicted him under IPC sections related to rape, voluntary hurt, and criminal intimidation. Singh had been arrested at Delhi airport in 2018 and released on bail until his recent conviction.Trump's Reciprocal Tariffs Could Lead to Uncertainty in Global TradeAs trade tensions escalate, all eyes are on the US President's announcement of reciprocal tariffs scheduled for April 2. Trump's plan to impose tariffs matching those charged by other countries has raised concerns about how the levies will be rolled out. With over 200 trading partners and thousands of tariff categories, the US could face an administrative nightmare. The initial focus is likely on the 20 countries the US has trade agreements with, with some speculating a blanket tariff could simplify the process but complicate global trade relations.That's all for the today. This was the CatchuUp on 3 Things by The Indian Express

In this episode of Market Minutes, Zoya Springwala talks about the key factors to watch out for today before the domestic market opens. The BSE Sensex and NSE Nifty 50 are expected to resume trading on a positive note, extending their gains from the previous session. Also, catch Nirav Chheda, Assistant Vice President, Nirmal Bang on the Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.

Welcome to Top of the Morning by Mint, your weekday newscast that brings you five major stories from the world of business. It's Tuesday, September 17, 2024. My name is Nelson John. Let's get started. Indian frontline indices ended Monday's trading session with modest gains despite hitting fresh record highs intraday. The Nifty 50 ended the session 0.11 per cent higher, while the BSE Sensex ended with a 0.12 per cent gain.  After delaying hikes last year, Wipro is likely to give a raise to its staff on time this year. Jas Bardia reports that India's fourth-largest IT company is doling out hikes to its 2 lakh employees just in time for the festive season. The hikes will be around three to eight percent on average. The company had rolled out smaller increments in December last year, as opposed to the usual cycle of September or October. Slowly, but surely, India's IT sector is getting back on track. Millions of soft drink bottles are sold today in India. While glass bottles ruled the sales, plastic bottles are more common today. One thing's clear: it's a good time to be a bottler in India. Coca Cola is considering listing its subsidiary in India. Priyamvada C writes that this move allows the popular soft drink company to cash in on its investment. The parent company can also reduce its exposure risk to seasonal problems. Moreover, FMCGs might consider spinning off their subsidiaries to optimise their balance sheets — much like Coca Cola hopes to do, if the IPO goes through. The Reserve Bank of India's tightening grip on unsecured loans has fintechs pivoting to secured loans, using assets like stocks and mutual funds as collateral. Companies like PhonePe and Mobikwik are teaming up with non-bank lenders to offer these digital loans, appealing to a tech-savvy crowd that prefers to skip bank visits. Mint's Anshika Kayastha spoke to fintech insiders who shared that leveraging their digital prowess can reshape secured lending, making it more accessible and efficient. This shift comes as unsecured loan growth cools off, thanks to stricter regulations. The central government's production-linked incentive schemes have been successful in invigorating certain sectors: solar energy, mobile phone components, semiconductors, and automobiles. Soon, drones too might get such a financial incentive, report Shouvik Das and Mihir Mishra. At 165 crore rupees, the government already has a tiny purse for developing drones. Shouvik and Mihir report that this kitty might go up to 3,000 crore rupees to facilitate better research and local manufacturing of components.  As India gears up for the festive season, starting in October and stretching until Holi next year, OTT platforms like Netflix, Amazon Prime Video, and ZEE5 are queuing up major releases. They're timing big releases like Netflix's "CTRL" starring Ananya Pandey and Amazon's spy series "Citadel: Honey Bunny" with Varun Dhawan, to coincide with holidays and long weekends, aiming to capture the festive binge-watching crowd. During this season, platforms typically see a spike in viewership, writes Lata Jha. While new subscriptions might not jump dramatically, renewals keep steady thanks to special festive offers and campaigns that keep existing viewers hooked.   Wipro to hand out an average 8% salary hike to its top performers this yearMint Explainer: Inside the lucrative world of soft-drink bottling manufacturersLoans against stocks, MFs, FDs on fintech radar amid regulator's scrutinyCentre plans ₹3,000-cr PLI scheme to indigenise domestic drone ecosystemStreaming platforms line up big releases for festive season engagement

In this episode of Market Minutes, Nandita Khemka talks about the key factors to watch out for this week. The BSE Sensex and Nifty 50 shed over a percent on Friday amid a selloff in global equities. Experts feel that the index could see more weakness amid global selloff and escalating tensions in the middle-east. Stock specific action based on first quarter earnings will continue this week as well. Bharti Airtel, ONGC, Vedanta, LIC, Eicher Motors among others will be reporting their results throughout the week. It promises to be a busy week for the primary markets as well as as IPOs of Ola Electric, Firstcry and Ceigall India will be open for subscription. Also catch Gaurang Shah of Geojit Financial Services in the Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.

In this episode of Market Minutes, Nandita Khemka talks about the key factors to watch out for this week. The BSE Sensex and Nifty 50 shed over a percent on Friday amid profit booking. This week the Union Budget on Tuesday will be the trend decider. Corporate earnings, monthly F&O expiry and US GDP data are some of the other important factors that will be in focus. Also, catch Sahil Kapoor of DSP Mutual Fund in the Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.

This is the Catch Up on 3 Things for the Indian Express and I'm Flora Swain.It's the 18th of July and here are today's headlines.he Supreme Court today said that any order for conducting the NEET-UG 2024 afresh has to be on the concrete footing that the sanctity of the entire medical entrance exam was affected. The counsel, as per LiveLaw, told the top court that the NTA has said that the inflation of the mark is attributed to the decrease in the syllabus, however, there is an increase and decrease in the syllabus. The judges further asked about the spread of NEET question papers.Several coaches of the Chandigarh-Dibrugarh Express overturned Thursday afternoon in Gonda district of Uttar Pradesh after the train derailed from the tracks. Two persons are dead and the number of people injured in the accident was yet to be known, according to UP Relief Commissioner GS Naveen Kumar. Meanwhile, Chief Minister Yogi Adityanath has directed immediate deployment of rescue and relief personnel at the spot, the Chief Minister's Office said. Emergency helpline numbers have also been issued for assistance.Stock indices soared today with the BSE Sensex hitting a fresh all-time high at 81,523 and was up over 800 points. The NSE Nifty 50 index registered a new peak at 24,838, and was up over 200 points. Earlier in the day, the 30-share BSE Sensex opened on a weak note, but bounced back later and climbed 193.9 points to hit a new record peak of 80,910.45.Karnataka BJP leaders staged protests against the Siddaramaiah-led Congress government today in Bengaluru, demanding the chief minister's resignation over the alleged Karnataka Maharshi Valmiki Scheduled Tribes Development Corporation Ltd. (KMVSTDC) scam. The opposition BJP leaders, including the party's state unit President B Y Vijayendra, were detained as they tried to lay siege to Vidhana Soudha. In today's Karnataka Legislative Assembly session, the BJP labeled the Congress government a “Tughlaq government” for delaying the Bill on reservations for locals in private sector management.The Bangladesh government will hold talks with protesting students, Law Minister Anisul Haq said as unrest over job quotas continued today. Protesters called for a nationwide shutdown, with protest coordinator Nahid Islam saying that all establishments will remain closed, and only hospitals and emergency services will remain operational. Meanwhile, the Federal Minister said that mobile internet has been temporarily suspended in the country in the wake of the protests. The Indian High Commission in Dhaka has advised its nationals to avoid travel.This was the Catch-Up on the 3 Things by The Indian Express.

In this episode of Market Minutes, Nandita Khemka talks about the key factors to watch out for today before the equity market opens. The BSE Sensex and Nifty 50 clocked record highs but saw moderate gains for the week. What are the key levels to watch out for on the Nifty 50 and Nifty Bank indices? Can the Nifty 50 finally cross the 24,000 milestone this week? Fertiliser and online gaming stocks may garner attention after the GST meet outcome. Quant Mutual Fund's smallcap holdings may come under pressure after Sebi conducts a search and seizure operation on suspected front-running. Also watch out for CarTrade, MCX and Cipla. Catch Deven Choksey, Managing Director, DRChoksey FinServ in the Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trend

In this episode of Market Minutes, Nandita Khemka talks about the key factors to watch out for today before the domestic market opens. The BSE Sensex and Nifty 50 saw a record closing high on weekly expiry day. What are the key levels to watch out for on the Nifty 50 and Nifty Bank indices? Can the Nifty 50 finally cross the 23,500 hurdle as we head into the long weekend? Ambuja Cements, Vodafone Idea and Suzlon will be among the stocks to watch out for today. Also, catch Jonathan Garner of Morgan Stanley in the Voice of the Day segment. Market Minutes is a morning podcast that puts the spotlight on hot stocks, key data points, and developing trends.

Noticias Económicas y Financieras Más de 6 millones de migrantes han cruzado a Estados Unidos ilegalmente bajo la administración Biden, que ahora está preparando una orden ejecutiva para detener el flujo en la frontera entre Estados Unidos y México. La acción, que probablemente se dará a conocer hoy en la Casa Blanca, se basará en una autoridad del Código de Estados Unidos conocida como Sección 212(f). Cerraría temporalmente la frontera a los solicitantes de asilo cuando el umbral diario de cruces supere los 2.500, pero la reabriría cuando el número caiga por debajo de 1.500, poniendo en la mira a los operadores de centros de detención que cotizan en bolsa como CoreCivic $CXW y GEO Group $GEO. El lunes, la Bolsa de Nueva York fue testigo de un fallo técnico que provocó suspensiones de operaciones en alrededor de una docena de empresas, como las acciones Clase A de Berkshire Hathaway $BRK.A, que se mostraron con una caída del 99%. El problema parecía estar relacionado con una nueva versión de software, pero sigue a otro fallo reciente que provocó que los sitios web financieros detuvieran las actualizaciones de los principales índices durante más de una hora. Hablando de volatilidad, E*Trade $MS está considerando expulsar de su plataforma al comerciante de acciones meme Keith Gill debido a las crecientes preocupaciones sobre la manipulación de acciones después de sus recientes compras de GameStop $GME. Los planes para triplicar la capacidad mundial de energía renovable en esta década no están en línea con los objetivos acordados en la cumbre COP28, según la Agencia Internacional de Energía. "Incluso si todos los países implementaran plenamente sus ambiciones actuales, el mundo se quedaría un 30% por debajo", escribió la AIE en su último informe. El objetivo de 2030 es un factor clave en el objetivo de lograr emisiones netas cero para mediados de siglo y limitar el calentamiento global a 1.5 °C. Se produce cuando los delegados se reúnen en Alemania para conversaciones sobre el clima esta semana, que influirán en las principales decisiones que se tomarán en la cumbre COP29 en noviembre. Los índices de referencia de la India cayeron durante la noche a su mayor caída en cuatro años, ya que las votaciones en las elecciones más importantes del mundo indicaron que una alianza liderada por el partido gobernante BJP podría no obtener una mayoría amplia como lo predijeron las encuestas a pie de urna. El índice Nifty $NIFTY y la BSE $SENSEX cayeron más del 8% cada uno durante la sesión, marcando las mayores caídas irradiarías desde el inicio de la pandemia en marzo de 2020. La caída revirtió las ganancias récord observadas el lunes, cuando un deslizamiento de tierra Se esperaba ampliamente la victoria del BJP, liderado por el primer ministro Narendra Modi. $SPOT Spotify está aumentando los precios para los suscriptores premium. $AMD AMD presenta nuevos procesadores a medida que la carrera por la IA se intensifica. Skydance anunciará la adquisición de Paramount $PARA.

Welcome to CNBC-TV18's Marketbuzz Podcast. Here are the important cues ahead of the trading session of May 24 -With nearly a fortnight left for the results of Lok Sabha polls, benchmark stock indices Sensex and Nifty zoomed more than 1.6% to close at lifetime high levels, making investors richer by Rs 4.28 lakh crore. -Regaining the 75,000 level, the BSE Sensex ended at an all-time peak of 75,418.04, up by almost 1200 points. The NSE Nifty inched closer to the 23,000 mark during the day. It ended 370 points higher. -The market may have made new records but the VIX has not cooled off in equal proportion. Although the index ended 0.4% lower on Thursday, it remains above the mark of 21 and analysts suggest that it will continue to remain at elevated levels till the results for the Lok Sabha Elections are declared on June 4. -Stocks in focus: Bikaji, JK Lakshmi Cement, Zaggle Prepaid, ITC, Page Industries -Results: Hindalco, Bosch, Torrent Pharma, United Spirits, Ashok Leyland, Glenmark Pharma, Manappuram, Karnataka Bank, Bharat Dynamics -Overnight in the US, the Dow Jones Industrial Average marked its worst session of the year as it slid 1.53%, with aircraft manufacturer Boeing falling 7.6% — the biggest laggard in the index. -The S&P 500 dropped 0.74%, and the Nasdaq Composite  tumbled 0.39%. Earlier in the session, both the broad-market index and the tech-heavy benchmark had hit record highs. -Asian stocks this morning tracked Wall Street lower following activity data that signaled the Federal Reserve may keep rates on hold for most of this year. -In commodities, oil steadied on Friday after slipping in its previous session as traders weighed signs of a weakening physical market ahead of the start of the US summer driving season. Elsewhere, gold held Thursday's loss following the US economic data. -GIFTNifty was in green, trading marginally higher from Nifty Futures Thursday close, indicating a muted but most likely a start in the green for the domestic market. Tune in to Marketbuzz Podcast for more cues

This is the Catch Up on 3 Things for the Indian Express and I'm Flora Swain.It's the 23rd of May and here are today's headlines.Tensions flared in Nandigram in West Bengal's Purba Medinipur district today. Hours after a woman worker of the BJP was killed and seven others were injured after being attacked on Wednesday night, days before the sixth phase of the Lok Sabha elections in the state. As the BJP took to the streets in protest today by torching shops and blocking roads using trees and setting them on fire, security was beefed up with Rapid Action Force and central forces being deployed, apart from the police.A senior Kolkata police officer said that the initial probe into the “murder” of Bangladesh MP Anwarul Azim Anar revealed that one of his friends had paid around Rs 5 crore to kill the neighbouring country's parliamentarian. Anar, who went missing in Kolkata since 13th of May, was found murdered and three people have been arrested, Bangladesh Home Minister Asaduzzaman Khan had said on Wednesday. The West Bengal Police had said investigation of the case has been taken up by the state CID.Recent heavy showers have caused significant destruction in Kerala, and resulted in at least four deaths. The India Meteorological Department has issued an orange alert for Ernakulam, Thrissur, Idukki, Palakkad, Malappuram, Kozhikode, and Wayanad districts today. With heavy rainfall forecast, the weather department has also issued a yellow alert for Thiruvananthapuram, Kollam, Alappuzha, Pathanamthitta, Kottayam, Kannur and Kasargod districts. An ‘orange' alert is an indication to be prepared and warns of waterlogging and major traffic disruptions.Frontline equity index NSE Nifty 50 hit an all-time high of 22,880.55, going past the previous mark of 22,794.  30-share BSE Sensex, along similar lines, is trading 873.12 points, or 1.19 per cent higher, at 75,061.74 points.Among the Sensex firms, Asian Paints, Axis Bank, State Bank of India, Larsen & Toubro, Reliance Industries, Wipro, Titan and Bharti Airtel were the major gainers. On the other hand, Sun Pharma, JSW Steel, Power Grid, and Tata Steel were the laggards.Norway said it will further tighten its restrictions on the entry of people from Russia. It further stated that those with tourist visas issued by Norway before regulations were tightened in 2022 or issued by another European country will be barred from entering the Scandinavian country as of next week. Justice Minister Emilie Enger Mehl said the tightening was a response to “Russia's illegal war of aggression against Ukraine.” Norway has a 198-kilometer (123-mile) -long border with Russia in the Arctic.This was the Catch-Up on the 3 Things by The Indian Express.

Hello and welcome to CNBC-TV18's daily markets podcast. Here's a snapshot of all that you need to know before the February 15 trading action -In the previous session, the Indian market defied the negative cues from global peers and made a smart recovery during intra-day trading to settle at day's high led by gains in State Bank of India, Bank of Baroda, and other PSU banks. At close, the BSE Sensex rose 267 to settle at 71,822.83 and the Nifty50 gained 96 points to end at 21,840. - Foreign institutional investors (FIIs) net sold shares worth Rs 3,929.60 crore, while domestic institutional investors (DIIs) purchased Rs 2,897.98 crore worth of stocks on February 14, provisional data from the NSE showed. -Will Nifty 50 retest the 22000 or 22100 levels? Analysts say with the third quarter earnings season almost over, the focus will now shift to global cues and economic data points. And that the market may see a gradual up move on the back of strong fundamentals. - Overnight in the US, all three major indexes regained some ground after the sell-off on February 13, following hotter-than-anticipated inflation reading. The S&P 500 advanced almost a percent while the Nasdaq Composite climbed more than a percent. The Dow Jones  was up 0.4%. -In morning trade, Asian markets rebounded after mostly falling in the previous session. This is even as GDP numbers from Japan showed that Asia's second-largest economy had entered a technical recession. -All eyes will be on US retail sales data, jobless claims and industrial production data that will be released in the evening -Stocks to track: Utkarsh Small Finance Bank, Hindustan Unilever, IRCTC, Paytm, M&M, Muthoot Finance, Gland Pharma, Glenmark Pharma and Sun TV. -Trends in the GIFT Nifty indicate a positive start for the broader index in India, with a gain of 80 points or 0.37 percent. The Nifty futures were trading around the 21,993 level. -Results: EPACK Durable and R Systems International -Nifty's weekly options expiry is also due today. Tune in to the Marketbuzz Podcast fore more cues

Hello and welcome to CNBC-TV18's daily markets podcast. Here's a snapshot of all that you need to know before the February 12 trading action - Stocks on Wall Street ended higher on February 9, after December's revised inflation reading came in lower than first reported. S&P 500 closed above the key 5,000 level for the first time ever while the tech heavy Nasdaq Composite rallied more than a percent. The Dow Jones, meanwhile, slipped 54 points to settle at 38,671. - Asian markets were mixed in February 12 morning trade as they started a holiday-shortened week for most markets due to the Lunar new year. China remains shut for the week. - Oil declined half a percent with Brent crude trading near the $82 a barrel mark. - The CPI inflation data for January and the industrial production data for the month of December are due to be released later in the day. - In the previous session, India's stock benchmarks made a recovery in the second half of the trading session. Investors bought banking, financial, and pharma stocks ahead of the last leg of the third-quarter corporate results. - Foreign investors were net buyers, buying ₹141 crore in the cash market on February 9, the last trading session while domestic investors were heavy sellers, selling ₹421.87 crore in equities. - Nifty 50 shed 120 points to finish at 21,782.5, while BSE Sensex tumbled 723 points or 1% to close at 71,595. PSU banks were a key highlight as they outshined with the State Bank of India leading with a 12% rally in just five trading sessions. - Key stocks to watch: ONGC, MCX, Apeejay Surrendra Park Hotels - Results today: Vinati Organics, Bharat Forge, Chambal Breweries & Distilleries, Coal India, Dilip Buildcon, GE Power India, Hindustan Aeronautics, JM Financial  and Mazagon Dock Shipbuilders - Gift Nifty was trading 0.09% higher at 21,945 at around 7 am, indicating a start near the flatline for the domestic market. Tune in to the Marketbuzz Podcast for more cues

Indian benchmark indices, Sensex and Nifty 50, are likely to open in the green in the trading session of January 30 with a heavy week ahead as Budget 2024, auto sales numbers and corporate earnings are all lined up this week.   India's GIFT Nifty was trading at 21,961 points as of 7:50 a.m. IST, suggesting the NSE Nifty 50 will open above its January 29 close of 21,737.60. Overnight in the US, Wall Street equities rose overnight with the S&P 500 hitting a fresh record high, ahead of key corporate earnings and Fed policy decision on January 31. Asian markets were muted. Oil prices cooled off from two-month highs with brand futures down a little over a percent to the $82.4 a barrel mark. Meanwhile, in the previous session, the Nifty 50 and the BSE Sensex logged their best day since December 4, 2023, driven by gains in heavyweights Reliance Industries and ONGC as oil prices climbed. Stocks to watch: ITC, Bajaj Finance, NTPC, Vodafone Idea, Piramal Enterprises, Marico  Tune in to the Marketbuzz Podcast for more cues

Indian benchmark indices, Sensex and Nifty 50, are likely to open flat on December 21 after closing a percent lower in the previous session, which led to the worst session in nine months. India's GIFT Nifty was trading at 21,143 as of 8:15 am, indicating the NSE Nifty 50 is likely to open near its previous close of 21,150.15. In the previous session, the Nifty and BSE Sensex shed 1.41% and 1.30%, respectively, as selling pressure emerged across public sector banks, information technology, energy and metal stocks after a recent rally. Despite the fall, however, the Nifty is still up 5.05% in December so far, and is likely to post its second-best month in 2023. On the global front, Asian shares opened lower after a drop in Wall Street equities overnight ahead of US third quarter growth data on December 21 and a key inflation reading on December 22. Stocks to track in the domestic market include Cochin Shipyard, Mazagon Dock Shipbuilders, Zee Entertainment Enterprises and Astrazeneca Pharma India. Tune in to the Market Podcast for more cues

Chinese companies, it seems, have been under increased scrutiny in India since 2020 border clashes. Hundreds of apps have been banned, several smartphone makers have been served with tax evasion notices and telecom firms have been kept out of 5G trials. In our first segment, Ayush Mishra dwells into details to find out why are Chinese companies under scrutiny in India?   After China, let us now move on to a much-awaited annual event. The two-day Business Standard BFSI Insight Summit is starting from October 30. It will feature prominent voices from India's economic, financial, and corporate landscape, including RBI governor Shaktikanta Das, IRDAI Chairman Debasish Panda, Sebi wholetime member Ananth Narayan, Jio Financial Services Chairman K V Kamath, SBI Chairman Dinesh Khara and PhonePE CEO Sameer Nigam. For an international perspective, the summit will also have global head of equity strategy at Jefferies Christopher Wood. The summit comes at a time when India's digital banking infrastructure is expanding at a very fast clip and its economy is projected to become the third largest in a matter of years. However, challenges are mounting too. Against this backdrop, join A K Bhattacharya, Tamal Bandyopadhyay and Ruchika Chitravanshi to find out what to expect from this summit and why you cannot afford to miss it.   One of the challenges that the experts just spoke about was global uncertainty. It is singeing Indian equity markets too. Key indices have been in a free fall over the past couple of days with the BSE Sensex index crashing 900 points on Thursday, and the Nifty50 index nearing 18,850-mark. The markets are at their lowest levels in 4 months. With them, shares India's most valuable company, Reliance Industries, too, have lost ground as they dropped 4% in 5 days. Analysts believe volatility in the commodity market, coupled with heavy capex plans, have been weighing on the stock. So, will the company's September quarter results help it come out of its slumber? Or will it trigger another round of sell-off? What are the markets expecting from RIL's Q2 results?    After the markets, let us see what is happening on domestic front. It seems, caste survey in Bihar has changed the course of country's election narrative. But some believe that the ruling BJP could implement Rohini Commission's report to turn the table on opposition. But what is this commission? Listen to this episode of the podcast for answers. 

For today there are a very mixed set of queues as far as BSE Sensex and Nifty 50 are considered. While US markets ended Friday's session on a positive note, it's important to note that all of the US indices ended the week on by with cuts. Also, another important queue is the fact that oil prices now are trading near a nine month high. Brent futures have gone ahead and breached the $90 a barrel mark on the upward trend. So oil prices continue to move higher, indicating a certain amount of worry, however Indian market continued to outperform in the last week. On Friday, Nifty 50 saw the sixth straight session of gains aided by heavyweights. In fact, Indian markets managed to outperform other emerging markets and even most developed markets. In last week the important trend was the fact that you actually saw metals PSU stocks, especially the CPSE index, as well as oil and gas stocks continuing to outperform. Going into today's trading session there are quite a few important queues to keep an eye out for. Number one AMFI would be releasing the monthly data. Also a company Rishabh Instruments would be listening today, Jupiter hospitals, this particular stock or this particular IPO company has actually been oversubscribed over 64 times on last day. Furthr TVS supply chain the company that recently listed on its exchanges would be delivering its results today, Asian markets however, indicate a muted opening, but the GIFT NIFTY after adjustments actually indicates a slightly positive start and this will be something that we need to keep an eye out for. Tune in to Marketbuzz Podcast for more news and cues ahead of today's session

Barring a few names such as Apollo Hospitals and Fortis Healthcare, most hospital stocks have firmly outperformed the market in the last six months.  Aster DM Healthcare, Shalby, Max Healthcare, and Krishna Institute of Medical Sciences have gained up to 23% during this period versus a 3% slide each in the BSE Sensex and BSE healthcare indices. Analysts, too, remain firmly upbeat on the sector, which is undergoing a healthy expansion cycle, and is seeing a recovery in its non-Covid business. Param Desai, Research Analyst, Prabhudas Lilladher says, the sector is reaping benefits of previous capex. Most companies are yet to reach optimum utilisation. Average revenue per operating bed remains healthy. Pricing, international patient inflow to drive near-term growth.  Analysts see strong growth visibility over the next 4-5 years as hospitals would add twice the current capacities by this time. Apollo Hospitals, for instance, recently, marked its entry into Haryana as it acquired a hospital asset in Gurugram for Rs 450 crore. Fortis Healthcare, too, has lined up a capex of Rs 400 crore for the current fiscal, while Max Healthcare is said to be in the race to acquire Care Hospitals. The companies are generating strong cash flows, and the debt leverage for major players has significantly improved vs pre-Covid year of FY20. According to Jefferies, in FY22, Max and Fortis' net debt to EBITDA came below 1x, while it was 1.2x for Apollo. This has slipped from over 3.5x levels over the last five years Besides, the sector's shift towards taking land-on-lease, instead of owning it, has allowed companies to use fewer funds to set up hospitals. Aditya Khemka - Fund Manager, InCred PMS says, hospitals have shifted to asset-light model. This allows higher return on equity, faster expansion. Expect FY23 sales to rise in the range of low-high teens. Turnaround in high margin non-Covid business to lift profits.  Khemka prefers companies that undertake mostly brownfield expansion as these players break-even quicker than the larger chains. He remains bullish on Aster DM Healthcare, and Healthcare Global Enterprises. Equity markets will be closed today on account of the Dussehra holiday. 

Russian war has finally started to cast a shadow over India's balance of payment. Rising global commodity prices, especially that of crude oil, have widened India's current account deficit to 2.8% of GDP in the first quarter -- highest in nearly four years. But RBI Governor Shaktikanta Das appears confident. He said on Friday that the foreign exchange reserves compared favourably with most peer economies. Das also said that India's external debt to GDP ratio was the lowest among major emerging market economies. Indian automobile industry seems to have shrugged off the pandemic blues with fancy models, especially SUVs. Notwithstanding the global uncertainty and lingering chip shortage, it has posted a healthy growth in the last few months. But wait. If you are planning to book your favourite model during the ongoing festival season, then think again.    Moving on to markets, benchmarks ended nearly flat after a challenging first half of FY23. The Nifty50, and the BSE Sensex dipped around 2% during the first six months of the current financial year. But the indices may be eyeing greater volatility in the remaining part of this fiscal. We trace the outlines how the next six months of FY23 may shape up for equity markets amid tighter monetary policies. Not just the stock movements, but you can also watch Supreme Court proceedings live now. Last week, the apex court started live-streaming proceedings of Constitution benches. But what exactly is a Constitution bench. This episode of the podcast tells more

Volatility swept domestic markets last week, marred by declining global sentiments, after the US Federal Reserve Chairman Jerome Powell propelled rate hike concerns on reiteration of hawkish stance. Yet, strong foreign inflows helped frontline indices end flat. The benchmark index Nifty50, for instance, dipped a meagre 0.1% last week, while the BSE Sensex fell 0.05%. While analysts attribute the Indian markets' resilience to healthy foreign inflows, they fear the peak of FII buying may be over. According to VK Vijaykumar of Geojit Financial Services, “FIIs are increasing their short positions in derivatives amid a surging dollar index, that hit a 20-year high of 109.6 last Thursday. This, and the US 10-year bond yield racing to 3.26%, is unfavorable for emerging market equities.”  Analysts at Credit Suisse, too, have downgraded equities to ‘underweight' on the back of rising inflation and recession fears. Going forward, analysts see markets to remain range-bound in the near-term. Neeraj Chadawar, Head - Quantitative Equity Research, Axis Securities says RBI's rate hike trajectory to guide markets. Watch out bond yield cues, commodity prices. Markets to remain range-bound in near-term. Apart from FII buying, falling crude oil prices also supported Indian equities last week. Brent crude prices have retreated below the 100 dollars per barrel-mark, and may be heading towards 80 dollars per barrel level, hopes Mohammed Imran of Sharekhan. He says, “We expect prices to fall further under $80 in coming weeks. Though a resilient labour market in the US may push crude to test resistance of $92, we remain bearish on crude oil outlook in near term.” Against this backdrop, technical charts suggests that the 50-pack index can move towards 17,850 levels this week with a support of 17,350 on the downside. The S&P BSE Sensex, meanwhile, can steer towards 59,800 on the upside with 58,000 acting as a strong support. Fundamentally, the European Central Bank's interest rate decision, rupee movement, and crude oil prices will guide markets during the week.

The jaw-dropping success of movies such as KGF Chapter 2 and RRR had lifted spirits of multiplex owners, who were looking to shake off the pandemic blues after two long years. However, latest regional movies including Liger have failed to cheer the Box Office. Besides, Bollywood movies such as Laal Singh Chaddha, Shamshera and Dobaaraa, too, have faced public backlash. All of this, analysts say, will lead to a bumpy road for listed players like PVR and Inox Leisure. Deepak Jasani, Head of Retail Research, HDFC Securities says only handful of regional movies do well nationwide. Revenue from South Indian movies unlikely to fill the gap. Multiplexes need good show from Bollywood movies. Pinning hopes on regional movies is too optimistic.  Shares of PVR and Inox Leisure have slumped around 14% each over the past one month as revenue from Bollywood movies account for 40-45% each for both these players. In comparison, the BSE Sensex was unchanged during the period. Financially… ...PVR reported highest-ever revenue and net profit of Rs 1,000.4 crore, and Rs 68.3 crore, respectively, in the June quarter of FY23.Inox, meanwhile, reported record revenue of Rs 589 crore, and profit of Rs 74 crore. However, this was largely driven by higher food and beverages revenue, lower employee costs and higher other income. Further, Net Box Office Collection, as a percentage of revenue, improved only 2 percentage points for both, PVR and Inox Leisure. Moreover, Inox Leisure clocked a mere 6% increase in footfalls above the pre-pandemic levels, while PVR is yet to recover the lost ground. G CHOKKALINGAM, FOUNDER AND CHIEF INVESTMENT OFFICER, EQUINOMICS RESEARCH says, movie goers are switching to OTT. Low budget movies are being released directly on OTT platforms. Big ticket movies make their way to streaming apps after two-three weeks of Box Office run. OTT will eat into multiplexes' revenues in the long-run.    Against this backdrop, analysts see another 10-15% correction in stock prices. They also expect weak earnings to put pressure on price-to-earnings valuation multiples.  On Friday, stock-specific action and auto sales data will guide investors. Globally, market participants will await the US jobs data.

As our country celebrates its Platinum Independence anniversary, here's a throwback on the many events that brought financial markets to where they are today. Even before India got independence in 1947, it had at least one stock exchange up and running in BSE in 1857. The other prominent exchange, the NSE, was incorporated in 1992, and was recognised as a stock exchange by market regulator Sebi in 1993. BSE, meanwhile, remains one of the world's oldest stock exchanges and the 8th largest exchange in terms of market capitalisation. One of the first few steps taken by the government post-independence was enactment of The Capital Issues (Control) Act that set the ball rolling for the Indian capital markets. And as investors equated investing in stock markets with wealth creation, the pool of investors kept growing over time. At the end of fiscal year 2021-22, the total demat account holders in India stood at 89.7 million compared to 35.9 million at the end of FY19 – up almost 150% in three years. In all these years, veterans have innumerable stories of booms and busts spread across decades. Within a decade of independence, India saw its first market scandal, involving Life Insurance Corporation of India and Haridas Mundhra group. The scam led to the resignation of the then finance minister. After the markets stablised, Reliance Industries launched its initial public offer in 1977, which market mavens say, brought about the equity cult in India. In fact, Dhirubhai Ambani had booked an entire football stadium in 1985 to hold its annual general meeting - a gala event for its 12,000 shareholders back then. And then there was no looking back for the equity markets then. After the big-bang ‘reformist' Budget in 1991, FPIs and FIIs were allowed to invest in Indian equities in 1992. Today, they hold stocks worth around a fifth of India's total market capitalisation. The period, thereafter, saw more frequent troughs than peaks. The Harshad Mehta scam hit the markets in April 1992, when the Sensex tanked 13%. While Mehta died in 2001, the stories of his modus operandi live on through OTT series like Scam 1992. The crashes that followed, include the Dot-com collapse of 2000; the 2004 fall post NDA's defeat in the national elections; and 2008's market slump amid the Global Financial Crisis. The GFC led to a sharp crash with the Sensex plunging 63% in 2008 to under 7,700 levels. 2008 also saw India's financial capital under siege amid the 26/11 attacks, rattling investors. The last market crash came in 2020, when the world was hit by the Covid-19 pandemic. The Sensex and Nifty closed at their lowest level in four years, after nosediving 33% in just 13 trading sessions. In the commodity market, WTI crude oil futures dropped 306% on April 20, 2020, to settle at minus 37.63 dollars a barrel. The one-day plunge was the largest based on records going back to 1983. But, between these crashes, there were periods of massive gains. India's Sensex touched 1,000-mark for the first time in 1990, and marched to hit the 10,000-mark in 2006. The index, then, hit the milestone of 25,000 in 2014, and scaled mount-50K in 2021. The lifetime high for the markets was during the same year. Going ahead, as India looks forward to its Centenary year celebration 25 years down the line, equity investors in India are optimistic that the BSE Sensex 30 will have scaled the 100,000-mark by then.

The BSE Sensex and the Nifty50 indices rose for the first time in seven days yesterday, as markets looked to stabilise after last week's blow. The indices, however, succumbed to the global doom in 2022 amid rising rates and hot inflation. The Nifty is nearing a bear market, having declined 17% from its lifetime peak. However, when compared with global peers, Indian markets have been resilient.  According to Motilal Oswal Financial Services, the MSCI India index has gained 7% in the past year whereas the MSCI emerging market index has corrected 22%. Analysts attribute this outperformance to the unshaken confidence of domestic investors. DIIs, for instance, have pumped in around 2.15 trillion rupees, so far this year, as against FPI outflow of around 3 trillion rupees. Naveen Kulkarni, Chief Investment Officer, Axis Securities says DIIs are positive as India has seen high inflation previously. Sticky inflation a challenge for the West, he says. Unexpected rise in inflation in developed markets making FIIs jittery.  Kulkarni expects equity markets to reverse the current downbeat trend once the global turmoil settles. Kulkarni says corporate earnings looking strong, and investors are waiting for global events to cool down. Once interest rate hikes settle, focus will shift to domestic front, he says.  Another silver lining is the attractive market valuation. At the end of May, the Nifty was at a one-year forward price-to-earnings ratio of 18.7 times, down from 23 times seen in October 2021. The current valuation is a 4% discount to its 10-year average.  "Markets often need trigger events to comply with the universal law of mean reversion and the Russia-Ukraine war is one such event this time," says Santosh Meena, Head of Research, Swastika Investmart. Meena recommends investors lap up stocks with good fundamentals and robust financials, using the buy-on dips strategy. That said, the risk of inflation continues to shadow near-term prospects. According to Kotak Institutional Equities, "Peaking of inflation could put a cap on bond yields and a floor on equity valuations. However, if inflation were to surprise on the upside, the already high yield gap may become more negative and likely result in a further correction in market multiples” - Kotak Institutional Equities Against this backdrop, the markets are likely to continue to be range-bound today given a lack of domestic triggers.

Markets snapped their three-week winning run last week, marred by increased volatility, after the RBI hiked repo rate by 50 basis points and raised inflation target for FY23. The sentiment weakened further as global markets tumbled ahead of the US Federal Reserve's monetary policy meeting this week. Meanwhile, last week the BSE Sensex touched a high of 55,832 early in the week, and thereafter drifted to a low of 54,206, and finally ended the week with a loss of 1,466 points or 2.6 per cent. The NSE Nifty shed 2.3 per cent to 16,202, and the Bank Nifty dropped 2.2 per cent. This week, all eyes will be on the US Fed's two-day monetary policy meeting on June 14 and 15, where investors will track Fed chair Jerome Powell's outlook on energy prices, inflation and economic recovery.   According to a Reuters poll, the US Fed is expected to hike interest rate by 50 basis points in June and July, with higher probability of a similar rate hike in September. That apart, Bank of England and Bank of Japan are also slated to take interest rate decisions on Thursday and Friday, respectively. Back home, markets will take note of crucial inflation numbers. The Consumer Price Index-based inflation for May will be announced on Monday, followed by Wholesale Price Index-based inflation on Tuesday. Technically, weekly trend for the Nifty has turned bearish with its 20-Weekly Moving Average slipping below the - . The broader trend indicates that the index could slide towards 15,800 - 15,300 if the 50-pack index fails to cross 16,900 level.   Against this backdrop, the NSE Nifty may test its support at 16,000-mark, below which the next significant support is at 15,800. Similarly, the BSE Sensex may swing in a range of 53,300 to 55,300, with support expected around 53,950 and resistance at 55,050. Among individual stocks, Bajaj Auto will be in focus ahead of its board meet on June 14 to consider share buyback. Besides, recently listed LIC India and Prudent Advisory will be on investor radar as the compulsory 30-day lock-in period for anchor investors will end on June 13 and June 17, respectively.  

Equities fought volatility and surged last week, as stocks danced to the tunes of global cues, domestic news flow and corporate earnings.  Among indices, financials lead from the front, while a steep cut in excise duty on fuel prices and capping of sugar exports, saw stocks from these sectors react negatively. Eventually, the BSE Sensex moved in a band of 1,500 points, and finally ended the week with 1 per cent gain. The NSE Nifty, on the other hand, was up 0.5 per cent, while the Bank Nifty surged nearly 4 per cent. However, despite last week's gains, the benchmark indices may end the current month on a negative note, marking their biggest declines in May since 2012. The BSE benchmark Sensex and the Nifty were down close to 4 per cent so far this month, primarily dragged down by the persistent FII selling.  Foreign investors have, now, been net sellers for eight straight months and have net sold stocks worth more than 52,000 crore rupees so far this month. According to VK Vijayakumar of Geojit Financial Services, FPI selling is showing mild signs of exhaustion. DII and retail buying together with overwhelming FPI selling along with short covering can trigger a near-term rally. High quality large-caps can stage a rally, says Vijayakumar, adding that leading banks are safe bets.  Against this backdrop, Business Standard's Avdhut Bagkar shares how the banking stock is placed on the charts. Going ahead, markets will look at Q1CY22 GDP number, slated to be announced on Tuesday, for fresh cues on the economic recovery. As per a Reuters poll of economists, India's economic recovery from the Covid-19 pandemic likely stumbled again in the first quarter of this year primarily due to Omicron-related restrictions and higher inflation. ‘Growth in Asia's third-largest economy was pencilled in at 4.0% for the January-March quarter from the same period a year ago, down from 5.4% in Q4 2021. If realised, that would be the slowest in a year and a third consecutive quarter of weaker growth'. Amid these triggers, technical charts suggest that the NSE Nifty managed to close above its 20-DMA for the first time since April 13, 2022. The Nifty may look to target the trendline resistance around 16,750 in the near term.  On the downside, the index can expect support around 16,200-level. As we draw curtains on the Q4 earnings season, stocks like Aurobindo Pharma, Delhivery, IRCTC, Jindal Steel and Sun Pharma could see some action ahead of earnings on Monday.

Equities fought volatility and surged last week, as stocks danced to the tunes of global cues, domestic news flow and corporate earnings.  Among indices, financials lead from the front, while a steep cut in excise duty on fuel prices and capping of sugar exports, saw stocks from these sectors react negatively. Eventually, the BSE Sensex moved in a band of 1,500 points, and finally ended the week with 1 per cent gain. The NSE Nifty, on the other hand, was up 0.5 per cent, while the Bank Nifty surged nearly 4 per cent. However, despite last week's gains, the benchmark indices may end the current month on a negative note, marking their biggest declines in May since 2012. The BSE benchmark Sensex and the Nifty were down close to 4 per cent so far this month, primarily dragged down by the persistent FII selling.  Foreign investors have, now, been net sellers for eight straight months and have net sold stocks worth more than 52,000 crore rupees so far this month. According to VK Vijayakumar of Geojit Financial Services, FPI selling is showing mild signs of exhaustion. DII and retail buying together with overwhelming FPI selling along with short covering can trigger a near-term rally. High quality large-caps can stage a rally, says Vijayakumar, adding that leading banks are safe bets.  Against this backdrop, Business Standard's Avdhut Bagkar shares how the banking stock is placed on the charts. Going ahead, markets will look at Q1CY22 GDP number, slated to be announced on Tuesday, for fresh cues on the economic recovery. As per a Reuters poll of economists, India's economic recovery from the Covid-19 pandemic likely stumbled again in the first quarter of this year primarily due to Omicron-related restrictions and higher inflation. ‘Growth in Asia's third-largest economy was pencilled in at 4.0% for the January-March quarter from the same period a year ago, down from 5.4% in Q4 2021. If realised, that would be the slowest in a year and a third consecutive quarter of weaker growth'. Amid these triggers, technical charts suggest that the NSE Nifty managed to close above its 20-DMA for the first time since April 13, 2022. The Nifty may look to target the trendline resistance around 16,750 in the near term.  On the downside, the index can expect support around 16,200-level. As we draw curtains on the Q4 earnings season, stocks like Aurobindo Pharma, Delhivery, IRCTC, Jindal Steel and Sun Pharma could see some action ahead of earnings on Monday.

Dalal Street witnessed another bloodshed on Thursday as weak earnings by retailers listed on Wall Street rang alarm bells regarding subdued consumer demand. The BSE Sensex crashed 1,416 points to slip below the 53,000-mark, while the Nifty50 gave up over 300 points to slip below the 15,900-mark. So far in calendar year 2022, frontline indices -- S&P BSE Sensex and Nifty50 -- have bled over 10% each whereas, broader markets have tumbled up to 21 per cent. The selling comes on the back of monetary tightening by global central banks that are walking a tight-rope to tame inflation while allowing growth to prosper. Soaring oil prices and earning downgrades are expected to keep market confidence muted in the near-term.   That said, what has worsened the correction is the relentless selling by foreign portfolio investors for eight consecutive months. Since October last year, FPIs have sold equities worth nearly 2 trillion rupees with 4 of the eight months seeing selling of over 30,000 crore rupees each. And despite retail investors and domestic institutional investors giving muscle to the market, FPIs are having an upper hand. So what's worrying the FPIs and when will this selling abate?   Nischal Maheshwari, CEO – Institutional Equities, Centrum Broking, says rising inflation, tapering balance sheet spooking markets. Exit of easy money policy stoking inflationary pressures, he says. Money moving back to US; 10-year yields at 3%.  He says that Daily FII sell-off is seeing slowdown, but FII will remain cautious until inflation is controlled. FII buying still a couple of quarters away   While Maheshwari believes retail investors have behaved maturely during this breakdown a break below 15,000 on the Nifty can trigger fresh bout of panic selling. After yesterday's closing, tech charts suggest that the Nifty50 formed bearish pattern on the daily charts on Thursday, signaling a negative trend. The index now needs to hold 15,671 for a reversal, while it may face stiff resistance at 16,000. On Friday, investors will watch out India's forex reserves data, the UK's retail sales data for April, March quarter results, and other global cues for today's trading session.

Indian equity markets have been at the mercy of foreign portfolio investors for over six months now. Since October 2021, FPIs have sold equities worth nearly 1.58 trillion rupees as rising crude oil prices and steep valuation of the markets made them nervous. Of this, peak selling was witnessed in March 2022, when FPIs sold equities worth 41,123 crore rupees. According to analysts at Jefferies India's positioning has come down to neutral or slight overweight level over the last 3-6 months, implying 50-100 bps weight reduction. While valuations have come off from peak, they still remain the key discomfort. VK Vijayakumar of Geojit Financial Services, says that along with relative rich valuations, FPIs think markets have not priced in Fed's monetary tightening.   That said, a recent trend has emerged in the markets, which is slowdown in the buying momentum of domestic institutional and retail investors. Data compiled by BS Research Bureau shows that DIIs bought equities worth 4,471 crore rupees in October last year. This buying increased to little over 42,000 crore rupees in February this year. However, so far in April, DIIs have bought equities worth 11,000 crore rupees only. So, is this a worrying sign for the markets? From investment viewpoint, analysts at HSBC remain bullish on defensiveness, recovery plays with strong earnings outlook, and industrials. Individually, they like ICICI Bank, Infosys, Bajaj Auto, Maruti, L&T, HUL, Apollo Hospitals and Sun Pharma. On Thursday, the BSE Sensex index ended at 57,912, up 874 points, while the Nifty50 closed at 17,393, up 256 points. On Friday, markets will react to HCL Tech's Q4 numbers and await March quarter earnings of Hindustan Zinc, Tata Metaliks and 12 other companies. Globally, developments around Ukraine-Russia war and rising Covid-19 cases will guide the sentiment.

The week began on a dismal note at the markets, as earnings disappointment by index heavyweights Infosys and HDFC Bank triggered a sell-off in IT and financial stocks. A spike in WPI-based inflation to 14.55% in March also weighed on the investor sentiment. At close, the BSE Sensex and the NSE Nifty 50 declined 2.0 per cent and 1.7 per cent, respectively. The Nifty IT tumbled 4.6 per cent, and the Bank Nifty shed 2 per cent. The HDFC duo – that is, HDFC and HDFC Bank – along with Infosys accounted for more than 70 per cent of the day's losses on the S&P BSE Sensex. Infosys registered its biggest intra-day fall in two years as it tumbled over 9 per cent. The stock eventually ended 7.3 per cent lower at Rs 1,621. Other major losers were.... HDFC, HDFC Bank, Tech Mahindra and TCS – down in the range of 3.7 to 4.8 per cent on Monday. According to Naveen Kulkarni of Axis Securities, the markets will continue to witness volatility in FY23, especially in the first half of the year with rising interest rates globally and high inflation, expected to persist. In this scenario, he expects money to move from long-duration debt funds to equity funds in the second half of the year. Kulkarni is positive on metals, hospitals, hospitality, oil refining and capital goods sectors, but believes discretionary consumption, IT, NBFCs may underperform. Given the fall in indices, wherein the NSE Nifty has shed nearly 6 per cent in just eight trading sessions from its recent high of 18,115. The next major question on investors mind is that will the indices decline further or shall we see a reversal?   That apart on Tuesday, shares of ACC, L&T Infotech, Mastek and Tata Steel Long Products are likely to be in focus as the companies are scheduled to announce Q4 earnings.   Watch video

Shares of new-age tech companies like Zomato, Nykaa, Paytm, Policybazaar and CarTrade witnessed a huge selloff after their listing as global headwinds and uncertainty over rate hikes battered them below their issue prices.   However, a rub-off effect has occurred in new-age tech stocks after markets saw a smart comeback as geopolitical tensions eased. While the BSE SmallCap index has outperformed the MidCap by 0.77 per cent in the past one month, the S&P BSE Sensex surged over 3 per cent during the same period. Shares of Nykaa, Paytm, Policybazaar, Zomato, CarTrade, too have zoomed between 2 and 34 per cent in the past one month. However, despite the recent euphoria, analysts remain cautious over the new-age tech stocks as interest rates rise. This is because these companies use weighted average cost of capital as discounting factor while valuing their firms. A rise in interest rate and in effect their respective WACCs will, therefore, reduce the current discounted value of expected earnings. Outlook-wise, too, a dark cloud of speculation continues to hover above the new-age tech pack as companies struggle to justify their valuations. AK Prabhakar of IDBI Capital, for instance, suggests investors to avoid the new-age tech pack even if it corrects another 20 per cent. Other brokerages, too, have been raising red flags over the new-age tech pack for a while now. While Jefferies warns adverse regulations to impact Zomato's growth, Axis Capital believes that Nykaa's expenditure remains at risk if consumer conversion rates fail to commensurate marketing returns. Hence, with rising interest rates, only hard-numbers are expected to rescue these stocks from a treacherous road ahead. The BSE Sensex and the Nifty50 closed 0.41 per cent and 0.31 per cent down respectively on Wednesday. Markets will now resume trade on Monday after an extended weekend.  

The cost of the Ukraine-Russia conflict is being paid by global economies. The conflict, which began nearly a month ago, has pushed up prices of various commodities. Prices of building material, for instance, have increased significantly in the past three weeks owing to the conflict and supply chain bottlenecks in Australia.   International petcoke prices rose 57% in the past few weeks and could rise further if coal prices remain elevated. Moreover, the rally in crude oil prices will also lead to more hike in diesel prices.   One of the key users of these raw materials is the cement sector, which has been seeing consistent price hike since November 2021. The sector had exited the December quarter on an already rough patch, marred by weak demand. The geo-political crisis has only weakened the near-term outlook further. On the bourses, too, cement stocks have corrected sharply in the last few months. The likes of JK Cement, Ambuja Cements, UltraTech Cement, and ACC have plunged up to 31 per cent thus far in calendar year 2022. In comparison, the BSE Sensex has slipped about a per cent during the same period. These higher costs, analysts say, will impact cement earnings in the near term. Global brokerage Jefferies has cut its FY23 operating profit estimates for the sector by 19 per cent. It said, “Earnings visibility has sharply declined for the Indian cement sector due to the unprecedented increase in costs. The industry needs to take an 8% price hike for every $50 per tonne increase in coal+petcoke prices just to maintain its operating profit per tonne.” That said, analysts believe that the current headwinds are transitory in nature as likely price hikes by companies will help aid their margin pressures over the medium-term. Besides, they feel the current elevated international coal and petcoke prices are unsustainable in the long-run.   Vishal Periwal of IDBI Capital expects cement players to hike price from the April-June quarter in line with the recent increase in diesel and petrol prices. Shah of Geojit BNP Paribas sees cement stocks as contrarian bets. He advises investors to buy select stocks in a phased manner.  ICICI Securities, meanwhile, is bullish on UltraTech Cement, ACC, JK Lakshmi and Sagar Cement. In nutshell, cement stocks are likely to trade range-bound in the near term, driven by volatility in commodity prices. However, the sector is expected to see gradual reset in profitability, underpinned by improving demand-supply dynamics, better price discipline and cost optimisation and de-risking efforts. On Thursday, weekly F&O expiry back home, and US President Biden's meeting with NATO members will be keenly watched by the markets. Besides, they will also track the two-day European Council meeting on further cues regarding banning. Watch video

The election euphoria swept the markets yesterday as Bharatiya Janata Party clinched victory in three of the five states. The S&P BSE Sensex sprinted 1,595 points intra-day while the Nifty climbed over 400 points.   The BJP strode ahead of the Samajwadi Party in Uttar Pradesh while the Aam Aadmi Party cornered a landslide win in Punjab. The BJP also reigned in Uttarakhand, Manipur and Goa, the other three states for which elections were held last month.   Though the election results were for assembly polls, this assumed significance as these are seen as a pointer to general elections, which are two years away. “State polls are touted as semi-final, before 2024 general elections have some impact on the direction of economic reforms and visibility of Modi-led government beyond 2024. Given that it included UP and a state from the Northeast, makes it very important,” says Amnish Aggarwal, Head of Research, Prabhudas Lilladher Pvt Ltd. The mandate, analysts say, is a good omen for investors from a medium-term perspective as majority states have shown their overwhelming acceptance to work done by the ruling party. Another interesting sub-trend is the emergence of a new creditable alternative to the existing parties on the national stage with pro-populist policies around management efficiency.   Both philosophies, analysts say, will lead to focus on efficient governance, which is a good long-term indicator for investments in India. Devarsh Vakil of HDFC Securities, meanwhile, says the election euphoria may not last for long as potential macro shocks weigh on sentiment. The market's fag-end trade yesterday confirmed Vakil's fears. The benchmark indices failed to hold on to their gains as global cues remained fluid. The BSE Sensex slipped nearly 800 points from the day's high to end at 55,464. The Nifty50, too, cooled off around 160 points from intra-day high to end at 16,595.   Given the global headwinds including simmering Russia-Ukraine tension and swinging commodity prices, analysts suggest investors exercise caution. Aishvarya Dadheech of Ambit Asset Management says, “Investors need to be vigilant because the uncertainty of geopolitical standoff still looms large. Commodity prices are least likely to see a secular downturn even after war subsides because sanctions will continue to disrupt the global supply chain. Unless sanctions are withdrawn, the global markets can remain volatile in the coming months and India will not remain insulated.” On Friday, global cues, including commodity prices, Ukraine war, European Central Bank's interest rate decision and inflation and jobs data for the US will continue to sway indices.  Twitter: @Pun_ditry  Watch video

Global headwinds, followed by the ongoing Russia-Ukraine crisis, has soured investor sentiments across geographies. The same was reflected in the domestic equity markets, which have been highly volatile in the last few weeks. The trend may continue in the short-term or until a resolution appears on the horizon for the geopolitical tensions, experts say.   Given the multitude of uncertainties on the global front, the markets have seen a sharp correction in February with the benchmark BSE Sensex and the Nifty50 indices slipping around 5 per cent each. Given the volatility, analysts suggest investors choose stocks wisely and look at defensive plays within the information technology, FMCG and healthcare space, believing that these could be the safest bets for investors in the present scenario.   On a year-to-date basis, the BSE IT index has corrected 12 per cent, while the BSE FMCG index has demonstrated better performance with a relatively smaller cut of 6 per cent. The BSE healthcare index, meanwhile, has fallen 11 per cent so far this year. In comparison, the benchmark Sensex has lost 3.4 per cent.   Prices of key raw materials have continued to inch higher in the last few months, with both palm and crude oil at multi-year highs and materially above the levels in the December quarter. Analysts say, the product price hikes will likely continue going forward given the higher input costs, which could further delay a potential volume growth recovery.   “Staple stocks have corrected 15-30 per cent from their 52-week highs. While there have been some earnings downgrades, valuations have still derated and are now close to five-year averages across most companies based on current estimates — of course, earning downside risk persists,” according to Jefferies.   Meanwhile, Amit Kumar Gupta, portfolio manager, Adroit Financial is bullish on hospitals within the healthcare category, as he believes these players will be largely insulated from the current headwinds and foreseeable interest rate hikes.   On Wednesday, the markets will open after a day's holiday on account of Mahashivratri. Besides reacting to the global markets, geopolitical issues and the GDP numbers for the October – December 2021 period for India announced post market hours on Monday, stock-specific action is likely to continue. 

Despite the worsening Ukraine-Russia crisis, global markets stabilised on Wednesday as sanctions announced by major economies, including the US, UK, Japan and Australia hit markets not with a bang, but a whimper.   Instead of a sweeping package that crippled top Russian banks, cutting its financial transactions off the global economy, or personally singling out Vladimir Putin -- the US and its allies settled on a modest ‘first tranche' of penalties. Markets responded with a shrug, underwhelmed by the tit-for-tat approach. The sanctions targeted a pair of Russian banks, VEB.RF and Promsvyazbank as well as three members of Russia's elite with close ties to the Kremlin. The penalties also sought to freeze future purchases of Russian sovereign debt.   Yet the sanctions hardly amounted to the economy-crippling measures the US and its partners long telegraphed if Russian troops were to roll across the border. Not surprisingly then, the BSE Sensex and the Nifty50 closed with tepid losses of 0.1% each, ending at 57,232 and 17,063 levels, respectively. However, the broader indices outperformed the frontline indices. The MidCap index on the BSE advanced 0.6% while the SmallCap index climbed 0.9%.   The likes of Yaari Digital, Raymond, Orient Bell, Crompton Greaves, Oberoi Realty, Adani Power, IRCTC, and JSW Energy rallied between 3 and 20%. This bounce back comes after a sharp fall of over 10% at index level in the past one week, where 13 stocks from the Nifty Midcap100 pack and 18 from the Nifty Smallcap pack hit 52-week lows. So, does the reversal mean that the downtrend has bottomed out? Or is it just a dead cat bounce?   Fundamentally, too, D-Street mavens say investors should stay away from the space as market situation remains volatile. They also say investing in large-caps could be a better option at the moment where balance sheet strength is strong. As regards today, the developing situation in Eastern Europe and monthly F&O expiry back home will guide the indices. That apart, stock-specific action, oil price movement and bond yields will also affect the market sentiment. Watch video

The simmering tensions between Russia and Ukraine have kept global equities under pressure for days now. Sliding for the fifth consecutive day, the BSE Sensex dropped 383 points while the Nifty50 fell 114 points to settle the day at 58,300 and 17,092 yesterday. Earlier in the day, both these indices had cracked around 1,300 point and 400 points, respectively, in intra-day trade.  The developments in Easter Europe roiled global markets as investors monitored the implications of potential sanctions against Russia, and the latter's counter-move, if any. Back home, investors have lost a chunk of their wealth as the benchmarks have skid around 1.5% so far this year.  The broader MidCap and SmallCap indices, meanwhile, have dropped up to 13% during this period. Given this, Dhananjay Sinha, managing director and chief strategist at JM Financial Institutional Securities, says retail investors should remain cautious and look at quality large-caps for now. Ambareesh Baliga, who is an independent market analyst, too, says retail investors should use any bounce back to get back into cash. That said, from a year-long perspective, Sinha says the year 2022 could be a year of flattish returns with downwards risks weighing more. And he may not be the only one with this view. Multiple headwinds in the form of Russia-Ukraine crisis, Brent crude oil price at $99 a barrel, prospects of faster-than-expected hike in rates by the global central banks and its impact on bond yields, impending state elections in India, and the fears of a rise in inflation has seen foreign brokerages recalibrate their return expectation from the markets in 2022. Thus, Jefferies has cut its December 2022 target for the Nifty50 to 17,500, which is around 3.5% higher from current levels. Its 10 mean reversion scenarios put the Nifty50 December 2022 in the range of 16,500-18,500 amid near-term risks including threat to liquidity due to LIC IPO, continued foreign selling, and a perception that the RBI might be behind the curve amidst the twin deficit concerns. BofA Securities, too, has cut its December-2022 Nifty target to 17,000 from 19,100 earlier. Thus, calendar year 2022 may give tepid returns to investors after two consecutive years of double-digit gains as outlook for the markets remains indefinite. Watch video

After four years of cajoling, Sebi has finally given in. Its efforts to introduce a good and established global corporate practice of keeping the offices of chairmen and managing directors at companies separate in India didn't yield results. In the market regulator's own words, it was a ‘tall order'. So, what does Sebi's about turn mean? And what lessons does it hold for the market regulator?  While some Indian companies may be resisting new ideas, people of the country seem open to experimenting when it comes to food. Stalls of spicy soya chaap are increasingly dotting the city markets across the country now. The last couple of years have seen the emergence of several plant-based meat brands in India. While the concept has been around in the West for a while, celebrities like Virat Kohli and Anushka Sharma are helping in its mainstreaming in India. A slow but steady change in consumer awareness has opened up opportunities in this space.  After food, let us move on to oil. Crude oil prices surged over 10% in the last one month to touch an eight-year high of $96 a barrel earlier this week amid tension between Russia and Ukraine. The BSE Sensex closed 105 points down at 57,892 yesterday, and the Nifty50 ended 17 points lower at 17,305, as investors monitored the Russia-Ukraine situation. Business Standard's Puneet Wadhwa caught up with London-based Paul Hickin, a director at S&P Global Platts, to understand how he expects crude oil prices to play out in the days to come. Stock markets in India are likely to remain cautious on Friday, and take cues from their global peers. Let us now move on to the world of software. A controversy brought Github into the limelight in India recently when a bunch of youths misused this platform to host an app, on which they allegedly organised fake auction of over 100 women of a particular faith. While police acted swiftly and nabbed all the key accused, Github, on its part, suspended the account used to create the app and slammed the crime. There is much more to Github than this controversy. Take a peek into the creative world of this huge open-source platform and more in this episode of the podcast. 

Money markets have been nervous since the announcement of the Budget on February 01. High borrowing numbers in the Budget as well as absence of any steps to facilitate global bond index inclusion roiled the domestic markets, pushing the yield on the benchmark debt to two-year high of 6.8%. This comes at a time when global central banks – the US Federal Reserve and the European Central Bank – are looking to hike rates soon. Bank of England, on the other hand, has already hiked rates.   And, this edginess in the bond markets may make Shaktikanta Das'S task more challenging. India's central bank may stick to baby steps for policy normalisation, as it is seized by the need to anchor borrowing costs for the government in addition to supporting a durable recovery in Asia's third-largest economy. Those objectives could also make the benchmark interest-rate a sideshow at today's monetary policy outcome. “G-sec market shows nervousness around impending policy actions and a possible supply-demand mismatch in the absence of RBI. Against this backdrop, even a reverse repo hike or a stance change could disturb the market further. Thus, cautious policy treading and communication will be the key,” says Madhavi Arora, Lead Economist at Emkay Global.  On the other hand, Joydeep Sen, an independent market analyst, believes the RBI may think twice before hiking the reverse repo rate today. Meanwhile, earlier this week, the government cancelled all bond auctions scheduled for February 11 which, analysts said, could help soothe market nerves. But a huge supply next fiscal will require the RBI's invisible hand in a more visible fashion, implying return of pre-committed G-sec Acquisition Programme. Nonetheless, analysts and the Street are baking-in, at most, a 25-basis point hike in reverse repo rate along with holding the accommodative stance. Given the policy outcome, market participants should expect a volatile day today with choppiness high in rate sensitive counters like banking, NBFCs, auto and real estate. That apart, stock-specific action amid Q3 results will also sway the indices. Over 300 companies, including GSPL, Hero MotoCorp, Tata Chemicals, MTAR Tech and M&M are slated to report their results later in the day. Yesterday, the BSE Sensex advanced for a second straight day and ended 657 points higher at 58,466. The Nifty50, on the other hand, closed at 17,464. Watch video

Brent crude is hovering around $92 per barrel-mark even as faint signs of progress in nuclear talks between the United States and Iran emerge. If US sanctions are lifted, Iran could export millions of barrels of crude and help to drive down red-hot oil prices. However, the move may not be enough to cool off the prices as tensions remain high in Eastern Europe.   Crude prices have rallied about 20% this year and 16% in the past month, as tensions between Russia and NATO simmered over Ukraine. Technically, if WTI March holds $91.60 level, it could rise up to $93.60 levels. Analysts worry oil prices are headed higher, and can hit $125 a barrel by June 2022 given these tensions and a pick-up in demand over the months ahead. Platts Analytics, for instance, expects India's gasoline demand to grow about 5 per cent in 2022 after rising 12 per cent in 2021.   "India's gasoline demand had already recovered back to above 2019's levels. The resurgence of COVID-19 in the country is expected to slow demand in Q1, but we still see growth for the whole of 2022 as the situation starts to improve. Mobility seems to be picking up as daily infections started to ease,” says JY Lim, Advisor, Oil Markets, S&P Global Platts Analytics But, rising crude oil prices may not be all that bad news, especially for companies that are engaged in drilling and extraction of oil. D-Street mavens are bullish on the road ahead for oil drilling companies such as ONGC, OIL India and Reliance Industries, who could gain from a rise in crude oil prices.   Another sector that is likely to benefit is electric vehicles (EV), as people may opt to buy EVs instead of the ones that run on conventional fuel. Technical chartists, too, remain bullish on these stocks from a medium-term perspective and expect these stocks to gain between 10 and 15% in the next 6 – 8 months. A mild dip in oil prices and bond yields on Tuesday did cap downside in the markets yesterday as benchmark indices snapped their three-day losing run. The BSE Sensex index is now at 57,808 while the Nifty50 is at 17,267 as global headwinds keep investors on their toes. Today, investors will react to Q3 earnings of Bharti Airtel and IRCTC, announced post-market hours yesterday, and will eye quarterly results of ACC, Berger Paints, Nykaa and Tata Power among others. Watch video

Top headlines ·       Sensex snaps 3-day losing run, ends 187 pts up; RIL gains 2% ·       Adani Wilmar gains 15% over issue price after weak debut ·       Ugar Sugar Works zooms 40% in 2 days on Rs 200-cr investment plan ·       Sansera Engineering hits new low as profit falls 50% in Q3 ·       Vedant Fashions IPO sails through on final day, subscribed 2.56 times   The equity markets were highly volatile on Tuesday, rocking back and forth between gains and losses but eventually snapping their 3-day losing streak to end higher amid mixed global cues and fag-end buying in metals, financials, and heavyweight Reliance.   The frontline BSE Sensex ended the choppy day 187 points higher at 57,808.58. The 30-pack index was lifted by Tata Steel, which rose 3%, and RIL, which was up 2%. These stocks were followed by the Bajaj twins, and Asian Paints. Titan, Axis Bank, Maruti Suzuki, ICICI Bank, and Bharti Airtel were other top gainers.   On the NSE, the Nifty50 ended the session at 17,267, up 53 points. Cipla and Divis Labs were the top gainers on the index. ONGC, Indian Oil Corporation, Power Grid, SBI Life, and Tata Consumer Products were the top laggards.   In the broader markets, the BSE SmallCap declined 1.4% and the BSE MidCap index slipped 0.45%.   Sectorally, the Nifty PSU Bank index was the top gainer. After falling 2% earlier in the day, it recouped losses by close to end 0.8% up. Other major gainers included Nifty Metal and Pharma, which rose by up to 0.8%.   On the flip side, the Nifty Realty, IT and Oil & Gas indices were subdued. They ended up to 0.8% lower.    Among individual stocks, edible oil major Adani Wilmar was in the spotlight today as it made a weak debut on the bourses, defying Street expectations. The stock listed on the BSE at a 4% discount to its issue price of Rs 230, but later climbed over 15% after investors rushed to buy it at lower levels. It settled 20% higher over its listing price.   That apart, the stock of Ugar Sugar Works hit a fresh 52-week high and closed 7% up on the BSE on the back of heavy volumes. The stock has zoomed 40% in the past two days, after the company on Friday announced an investment of Rs 200 crore in distillery capacity expansions for ethanol production.   On the downside, auto parts maker Sansera Engineering hit a new low as the company's consolidated profit after tax slipped by over 50% in the December quarter. Its revenues fell 3% from the previous financial year. The stock eventually closed 5% lower today.   In the primary market, the IPO of Manyavar brand owner Vedant Fashions managed to sail through on the final day. It was subscribed 2.56 times as at 4:10 PM. While the retail investor category was subscribed 0.39 times, the Non-Institutional Investors and Qualified Institutional Buyer portions were subscribed 1.07 and 7.49 times, respectively.   On Wednesday, the Q3 earnings of Berger Paints, and PowerGrid will likely be watched, and investors will also react to Bharti Airtel's results. The company posted 3% yearly decline in consolidated PAT at Rs 830 crore for the December quarter, while its revenue grew 12.6% helped by recent tariff hikes and subscriber additions. 

Budget euphoria is slowly fading away on Dalal Street as global headwinds stare in the eye. Geo-political tensions involving Ukraine and Russia, coupled with fear of easy money drying up amid soaring inflation, are giving a rude reality check to stock market investors. Yesterday, the BSE Sensex plunged over 1,300 points in intra-day trade while the Nifty50 slipped below the 17,150 level. The Nifty 50 and BSE-Sensex tumbled for a third straight day and moved below the highs made on Budget-day. The indices ended nearly 2% lower at 17,214 and 57,621, respectively. With this, the markets have turned negative for the year, and are down 1 per cent YTD.   U R Bhat, who is co-founder & director at Alphaniti Fintech, believes markets can fall another 3-5% from here on as an actual clash on the Russian border is not priced in at all.    Brent crude prices are already up 16% in a month amid simmering tensions between Russia and NATO over Ukraine. Brent is above $93 per barrel-mark but a full-scale war can take it past the $100 per barrel mark, analysts worry. Most analysts, including those at Rabobank International and BofA Securities, see Brent hitting the $125 mark by June 2022. On their part, the benchmark indices – the S&P BSE Sensex and the Nifty50 – have slipped around 3% each in the past one month. On the contrary, the Nifty Energy index that comprises upstream players like Reliance Industries and ONGC has outperformed with a rise of nearly 6% as oil prices rose during this period. Going-forward, market mavens suggest investors to stay stock-specific and tread cautiously in the markets. These global factors will continue to dictate market trend on Tuesday as well. Domestically, investors will track the three-day RBI policy meeting, which will begin later today. That apart, December quarter result of prominent companies, including Bharti Airtel, Escorts, Indraprastha Gas, IRCTC and Godrej Consumer products will be on investor radar. Moreover, shares of Adani Wilmar will also debut on the bourses today. Watch video

Top headlines ·       Sensex dips 1,024 pts on downbeat sentiment; Nifty holds 17,200 ·       Nifty PSU Bank index outperforms benchmarks; SBI hits record high ·       IndiGo soars 10% on strong rebound in Q3 bottom line ·       DB Realty freezes at 5% upper circuit; board to mull fundraise ·       Vedant Fashions IPO sees 20% subscription on day 2   The triple whammy of rising crude oil prices, sell-off by FIIs, and fears of liquidity crunch amid monetary policy tightening by global central banks hit Indian benchmark equity indices on Monday. The market saw high volatility a day before the RBI monetary policy committee begins deliberations over key policy rates in the face of rising inflation.   The frontline BSE Sensex shed over 1,300 points to touch its intra-day low before ending 1,024 points, or 1.75% lower, at 57,621. On the NSE, the Nifty50 index slipped below the 17,150 mark during the day but settled at 17,214, down 303 points or 1.73%.   L&T, down nearly 4%, was the top laggard on the Sensex. It was followed by HDFC Bank, Bajaj Finance, HDFC, Bajaj Finserv, Kotak Bank, Titan, and ICICI Bank.   Only 5 stocks ended higher on the 30-pack index, including Power Grid, Tata Steel, SBI, NTPC, and Ultratech Cement, while only 8 stocks were in the green in the Nifty-50 pack.   Meanwhile, in the broader markets, the MidCap and SmallCap indices on the BSE outperformed the headline indices and ended 1.3% and 0.8% lower, respectively.   Sectorally, all indices except the Nifty PSU Bank index closed in the red zone. The PSU index was an outlier, closing 0.9% higher after it hit an over two-year high earlier in the day. The upmove came after select banks reported a solid set of numbers for the December quarter.   SBI hit a record high today on reporting a 62% year-on-year rise in net profit, while Bank of Baroda gained 6% as its profit after tax doubled in the reporting quarter.   On the flip side, the Nifty Private Bank index closed over 2% lower, dragged by heavyweights HDFC Bank and ICICI Bank. The Nifty Pharma, IT, Realty and Auto indices closed over 1% lower.   Among stocks, InterGlobe Aviation, the parent company of airline IndiGo, surged nearly 10% after the company's bottom line slipped back into green after a series of losses in previous quarters. The airline posted a profit after tax of Rs 128 crore, against a loss of Rs 626 crore in the year-ago period, while its revenue also rose by a massive 89% year-on-year to Rs 9,294 crore.   Further, the shares of DB Realty were locked in the 5% upper circuit, bouncing 10% up from their intra-day low on the BSE. This came on the back of heavy volumes, despite Godrej Properties cancelling its plans to invest Rs 700 crore in the real estate company. Its board will meet on Wednesday, February 9, to consider a fundraising proposal.   Lastly, in the primary market, the IPO of Manyavar brand owner Vedant Fashions did not pick up pace even on the second day of subscriptions. As of 4 PM, the IPO had been subscribed only 20%, while the retail investor category was subscribed 31%. The Qualified Institutional Buyer and the Non-Institutional Investor categories were subscribed only 0.11 and 0.08 times, respectively.

Top headlines   ·       Sensex slips 143 pts; Nifty holds 17,500; Realty worst hit ·       Nifty Metal shines; Hindustan Copper gains 6% ·       Godrej Properties slumps 10% as board approves stake buy in DB Realty ·       Monte Carlo Fashions sheds 10% on weak Q3 results ·       Vedant Fashions IPO subscribed only 11% on day 1   Mixed global cues kept the domestic equities volatile throughout the day on Friday, as Brent crude inched closer to $93-a-barrel mark, and bond yields climbed in the US and India, adding to the nervousness in the markets.   The BSE Sensex oscillated 517 points intra-day and eventually settled 143 points lower at 58,645. The Nifty50, on the other hand, ended at 17,516, down 44 points. Both benchmarks were down 0.2% each.   In the Sensex pack, SBI was the biggest loser. It dropped over 2%. M&M, NTPC, Kotak Bank, Bajaj Finserv, HDFC, Power Grid, and RIL were the other major losers.   On the upside, Sun Pharma, Asian Paints, Tata Steel, UltraTech Cement, and Bajaj Finance were the major gainers, all rising up to 1.4%.   The broader markets underperformed the benchmarks, with the BSE MidCap and SmallCap indices closing 0.7% and 0.45% lower, respectively.   Elsewhere in Asia, markets ended higher, with Japan's Nikkei and South Korea's Kospi rising 0.7% and 1.6%, respectively. European markets, however, were little changed. This was after the European Central Bank kept interest rates unchanged on Thursday, despite record inflation levels across the euro zone. The Bank of England, however, increased rates, in a first back-to-back rise since 2004.   Back home, among sectors, the Nifty Realty index was the biggest loser today. It closed 3% lower, and was followed by Nifty PSU Bank and Nifty Auto indices, which shed 2% and 1%, respectively. The Nifty IT and FMCG indices ended flat.   On the other hand, the Nifty Metal index was the sole gainer. It ended 1% higher in a weak market. Metal stocks have been gaining after the Union Budget proposed to extend customs duty exemption on steel scraps for a year. Index constituents Hindustan Copper, Vedanta, Ratnamani Metals, Hindustan Zinc and Jindal Steel were the top gainers, all up between 1% and 6%.   Among stocks, Monte Carlo Fashions lost 10% after investors were disappointed with its December quarter performance. The apparel company's net profit declined 2.4% year-on-year to Rs 77.45 crore. Its EBITDA margins also came lower at 24.6%, against 28.8% in the year-ago period.   Further, Godrej Properties slumped nearly 10% after its board approved an investment of Rs 400 crore in DB Realty to acquire around a 10% stake. The stock has tanked 16% in the past two sessions. The company also reported a subdued performance in the December quarter as its pre-sales volumes declined 7% year-on-year and 39% sequentially.   Lastly, the IPO of Manyavar owner Vedant Fashions saw a tepid response from investors on day 1 of the subscription period. As of 3:50 pm, the IPO had been subscribed only 11%, with the retail investor portion being subscribed 20%. The Non-Institutional Investor and Qualified Institutional Buyer categories did not see much participation.

Nasdaq-listed IT services company Cognizant will be onboarding 50,000 freshers from India in calendar year 2022, up from 33,000 freshers in CY21. Back home, TCS has added 77,000 freshers in the first nine months of FY22, while Infosys has revised total fresher hiring target for FY22 to 55,000 from earlier 45,000. Accenture, too, has done net addition of record 105,000 employees in H2CY21.   The Street, however, isn't liking such massive hiring numbers as these are weighing on the companies' financials at a time when growth rates are moderating. On a year-to-date basis, the Nifty IT index has slipped over 7% on the NSE, underperforming the benchmark Nifty50 index that has moved up over 2% during this period. We spoke to G Chokkalingam, founder and chief investment officer at Equinomics Research, to understand what's slowing down the momentum in the IT industry.   Analysts at Prabhudas Lilladher expect employee costs for IT firms in their coverage universe to increase by Rs 645/548/569 billion per year for FY22/23/24E, which is roughly 2x of last 6-year average.  Apart from domestic headwinds, the recent global tech rout has also eroded the market value of IT stocks. Tech-heavy NASDAQ, for instance, has lost nearly 8% thus far in CY22. FANGMAN stocks – or Facebook, Apple, NVIDIA, Google, Microsoft, Amazon and Netflix – are down 10-30% in the past one month. Analysts believe the concerns on the monetary policy tightening in the months ahead are weighing heavily on tech companies that are yet to show revenue and profit growth. But, should one invest in IT companies at current levels or stay on the sidelines? Chokkalingam believes the mid-cap IT companies still hold promise and investors can use the fall in these stocks to accumulate from a medium-to-long term horizon.   The Nifty IT index underperformed on the bourses yesterday, falling 2%. In comparison, the BSE Sensex and the Nifty50 closed 1.3% down at 58,788 and 17,560, respectively. Against this backdrop, the performance of IT stocks will be on investor radar today. That apart, December quarter results of 114 companies, including Bank of India, InterGlobe Aviation, Paytm and Tata Steel will also guide the markets.   Meanwhile, in the primary markets, ‘Manyavar' brand owner, Vedant Fashions, will open its initial public offer today. The company plans to raise up to Rs 3,150 crore, in the price band of Rs 824 to Rs 866 per share. Brokerage recommendations vary from ‘Neutral' to ‘Subscribe with caution' as current positives are captured in the valuations commanded by the company.   Watch video

The two most important economic documents – that is, the Economic Survey and the Budget – will set the near-term tone for the Indian stock market.   Economic Survey, which essentially gauges the health of the economy, will be tabled in the Parliament later today while the Union Budget will be presented tomorrow. According to a media report, a single volume Economic Survey for 2021-22 will be tabled this time, which could project a growth of around 9% for the next financial year.   In recent times, making projections for the next year, particularly for GDP growth, has become tricky. Even before Covid hit the economy, Economic Surveys in India had been way off the mark in projecting the outlook. Consider this: Of the eight surveys presented during the Modi regime so far, three predicted either a somewhat correct number or underestimated the actual growth. One was presented when the base year was changed in between. The remaining four, all presented during the past four years, were way off the mark in predicting growth numbers. Now, given that the govt's forecast pertaining to the country's growth holds supreme importance for stock market investors, these projections significantly affect the market sentiment. We have with us Madan Sabnavis, Chief Economist at Bank of Baroda, to understand the key data points that the Street will be tracking this time from these two documents. On their part, investors are starting off this week with lighter portfolios after a heavy bout of selling over the previous week. The BSE Sensex and the Nifty50 declined 3% last week as profit booking ahead of the Budget, along with global headwinds kept investors on the sidelines. Let's go to Business Standard's Avdhut Bagkar to know how to play the markets ahead of the Budget.   Clearly, markets are at their make-or-break levels and Budget will now hold the key for the next decisive move in the indices.   Apart from the Budget and the Economic Survey, Q3 earnings will keep stock-specific action alive on the Street this week. DLF, Hindustan Petroleum, Indian Oil Corporation, Sun Pharma, Tata Motors, Adani Ports, Tech M, HDFC, Titan, Paytm, Bank of Baroda, and State Bank of India are some of the prominent companies which will report their December quarter results this week. In the primary market, Vedant Fashions Ltd, which owns ethnic wear brand Manyavar, will launch its initial public offering on Friday, February 4. Globally, FII activity, oil prices, and bond yields will decide the movement in equities. Watch video

Top headlines   ·       Sensex pares gains to end 77 points down; Nifty holds 17,100 ·       ONGC soars to 32-month high on improved outlook ·       Bharti Airtel rises 6% on Google's $1-bn investment plan, erases gains later ·       PSE stocks surge ahead of Budget; CPSE index gains 1% ·       Adani Wilmar IPO subscribed 1.08 times on day 2   The frontline indices started Friday's session on a positive note but ended the volatile week marginally in the red. The BSE Sensex started gap-up and gained 807 points to touch the day's high but a sharp sell-off in the last hour of trade dragged the index into the negative zone, down 77 points at 57,200.    Its NSE counterpart, the Nifty50, ended with a loss of 8 points at 17,102. This was 271 points lower than its intra-day high. For the week, the benchmark indices were lower by 3% each. The indices' breadth was slightly skewed towards buyers, as 14 of the 30 Sensex constituents and 19 of the 50 Nifty constituents ended in the red. The losses were led by Maruti Suzuki, Tech Mahindra, Power Grid, Hero MotoCorp, ICICI Bank and Axis Bank.  On the upside, NTPC, UPL, ONGC, Sun Pharma, IndusInd Bank, Tata Consumer Products, and ITC ended as top performers. In the broader markets, the BSE MidCap and SmallCap indices bucked the trend and ended 1% higher each, with LIC Housing Finance, Castrol India, Apollo Hospitals, Mindtree, Sun TV and HT Media rallying up to 18.5%.   Kriti Industries, Mahindra Logistics, HG Infra, TVS Motor, RBL Bank, and IDBI Capital were the worst-hit stocks from the space.   Sectorally, the Nifty IT index was a significant gainer. It ended with gains of 1%. With this, the index snapped its 8-day losing run. The IT pack was supported by strong Q3 results of Coforge and Birlasoft, which closed 7% and 1.6% higher, respectively.    The Nifty Healthcare index was the other prominent gainer, up 1.5%, followed by Realty and FMCG. On the BSE, the CPSE index gained 1% with public-sector companies putting up a good show ahead of the Union Budget. Mangalore Refinery, Bharat Immunologicals, ONGC, NTPC, IRCTC, Concor, NLC India and NMDC were some of the top gainers on the index.    On the other hand, Nifty Bank was the top loser, down 0.8% along with Financials and Auto indices.    Among individual stocks, oil major ONGC touched a 32-month high on the BSE on improved outlook amid rising oil prices as higher oil realisations and modest production could spur the company's EBITDA in the December quarter. The Brent crude benchmark has topped the 90-dollar-a-barrel mark for the first time in seven years.    Besides, the shares of telecom major Bharti Airtel rallied over 6% intra-day after it announced that internet giant Google would invest up to $1 billion in the company through equity investment and commercial partnership agreements. For the former, an investment of $700 million would be made by Google to acquire a 1.28% ownership in the company. Profit booking at higher levels, however, saw the counter erase these gains and close just 1.2% higher.    Lastly, the IPO of edible oil major Adani Wilmar had been fully subscribed at 1.08 times on day 2 as of 4:15 pm. The retail investor portion was subscribed 1.79 times, while the non-institutional investor and qualified institutional buyer categories had been subscribed 0.85 and 0.32 times, respectively.

The screeching halt in equity rally has taken investors by surprise. After starting the new calendar year on a solid note, market participants are looking for cover ahead of the US Federal Reserve's policy meeting. The Federal Open Market Committee is due to meet on Tuesday and Wednesday to decide on the next steps for US monetary policy. Fears that the policy could be hawkish and potentially outline the case for interest rate rises starting in March has spooked riskier assets. Given this, benchmark indices crashed 2.6 per cent yesterday, wiping off all the gains logged, so far, this year. The BSE Sensex plunged over 1,500 points while the Nifty50 gave up the crucial 17,150 level. With this, the indices have broken below their key support levels, indicating a wild ride ahead. The pain in the broader market is more severe, which is a cause of concern. The Mid Cap and Small Cap indices on the BSE have cracked 8 per cent each in a week. Individually, Spandana Sphoorty, Vodafone Idea, Max Healthcare, PI Industries, Info Edge (India), Mindtree, PTC India, Havells India, Tech Mahindra, Mphasis, and Aurobindo Pharma are some of the stocks from the mid- and small-cap segments that have lost between 10 per cent and 28 per cent this far in 2022.   At present, 221 stocks in Nifty 500 – nearly 44 per cent – are trading below their respective 200-DMA with Apollo Tyres, Finolex Cables, Jindal Steel & Power, Wipro, Godrej Properties, Adani Ports and Special Economic Zone witnessing intense selling pressure. And if the global sell-off continues, marquee names like Ambuja Cement, Axis Bank, BPCL, Divis Labs, HDFC Bank, HDFC, Hero MotoCorp, HUL, SBI Cards, Wipro and Tata Steel may see aggravated selling. As uncertainty around the tightness in the policy along with upcoming expiry and the Union Budget could keep the space volatile, analysts advise investors to stay away from the mid-and small-caps for now and use the market fall to buy large-caps.   That said, Jitendra Gohil, head of India equity research at Credit Suisse Wealth Management doesn't anticipate India's valuation premium to materially de-rate in the near-term given marked improvement in macro fundamentals and strength in corporate balance sheet. Currently, he continues to maintain a moderate overweight position in midcaps. As regards today, investors will eye the two-day meeting of the US Federal Reserve, bond yield and oil price movement, and news flow around likely Budget announcements. That apart, Q3 earnings of Cipla, Maruti Suzuki, Lodha Developers, and 60 other companies will also be tracked by the markets. Watch video

Top headlines   ·       Sensex crashes 1,546 pts, Nifty below 17,150 amid US Fed uncertainty ·       Broader markets worst hit, BSE SmallCap index slips over 4% ·       BSE IPO index plunges 7% as Zomato, Nykaa tank up to 20% ·       921 stocks freeze at lower circuit on the BSE ·       Sharda Cropchem hits record high on robust Q3 earnings   Dalal Street witnessed carnage on Monday with benchmark indices falling the most since April last year in intra-day deals. Panic selling amid uncertainty around the likely interest hikes by the US Federal Reserve spooked the markets.   The frontline BSE Sensex crashed nearly 2,000 points intra-day before staging a mild recovery to end 1,546 points, or 2.6%, down at 57,491.   On the NSE, the Nifty50 ended at 17,149, down 468 points or 2.7%, with only two stocks – Cipla and ONGC – managing to end in the green. Earlier in the day, it had slipped below the 17,000 mark, hitting a low of 16,998.   Among large-cap players, JSW Steel and Tata Steel plunged up to 7%, while Bajaj Finance, Grasim, Hindalco, Wipro, Tech Mahindra, Titan, and Reliance shed between 5% and 6% on the bourses.   The broader markets were the worst hit as they underperformed the benchmarks by logging significantly higher losses. The BSE MidCap and SmallCap indices lost 3.8% and 4.4%, respectively. From the latter, Astral, Godrej Properties, Vodafone Idea, Gland Pharma, and Zee Entertainment were among the top losers.   Overall, over 3,000 stocks declined on the BSE, while just 513 stocks managed to end higher. The volatility gauge – India VIX – also surged 20.8% to 22.8, indicating a high level of nervousness among investors ahead of the Union Budget.   Meanwhile, a total of 921 stocks were locked in their respective lower circuits, as against 259 stocks that were in their upper circuits.    Sectorally, all indices ended with sharp losses, led by the Nifty Realty, Metal, IT and Consumer Durable indices, down 6%, 5%, 4% and 3.4%, respectively. Oil & Gas, Financials, Auto and FMCG indices ended 2% lower each.   On the BSE, the IPO index closed 7% lower, as the recently listed stocks were also hammered amid a heavy sell-off in the markets. Zomato, Nykaa, MapmyIndia and Policybazaar ended 19.6%, 13%, and 10% lower, respectively. All these stocks hit their respective all-time lows since their listing on the market.   On the flip side, agrochemical company Sharda Cropchem was a major outlier in today's session, ending 15.5% higher on the BSE after it hit a new all-time high on the back of robust Q3 numbers. The company's net profit more than doubled to Rs 102 crore in the December quarter, while its revenue grew 78% year on year to Rs 879.8 crore, led by strong volume growth.   On Tuesday, auto major Maruti Suzuki, drugmaker Cipla and Torrent Pharma, along with Macrotech Developers and SRF, are likely to be in focus as investors will watch their Q3 earnings.   The Federal Reserve's meetings on Tuesday and Wednesday may also keep the markets on the edge as investors await clues on when and how the central bank might raise interest rates this year.

The countdown to Budget 2022 has begun and India is in the midst of resurgence in coronavirus cases driven by the new Omicron variant. While this pose downside risks to the economic growth, the impact isn't expected to be significant. Nonetheless, contact-intensive sectors, travel, tourism and hospitality sectors have been time and again hit by the pandemic's onslaught. Besides, private consumption is yet to come to pre-Covid levels which underscore stressed household incomes. Data provided by CMIE – or Centre for Monitoring Indian Economy – suggests that stress is more in lower tier and rural households where consumption to income ratio is generally higher.   Given this, the Street expects Finance Minister Nirmala Sitharaman to dole out fiscal measures to increase disposable incomes of people at the bottom of the pyramid.   On the tax front, D-Street experts don't expect any change in tax slabs. However, media reports suggest that the Centre could increase the standard deduction limit, which currently is at Rs 50,000 available to salaried taxpayers and pensioners by 30-35%. So, how can market investors benefit from this? Yesterday, the BSE Sensex fell 634 points, taking its three-day slide's tally to over 1,800 points. The NSE Nifty, on the other hand, ended just above the 17,750-mark yesterday. Given this, analysts suggest inventors accumulate quality names from the space which can benefit from the Budget.   When asked to pick stocks that may benefit post Budget, G Chokkalingam, founder and chief investment officer at Equinomics Research went with the FMCG pack. For AK Prabhakar, who is head of research at IDBI Capital, quality stocks from defence, agriculture, and capex should be looked at ahead of Budget 2022.   That apart, markets also expect the govt to focus on electric mobility, 5G technology and increasing allocation to healthcare sector. Given this, investors may look atlarge-caps like L&T, M&M, Sun Pharma, and Bharti Airtel which have an upside potential of 11-15% from current levels. Coming to Friday's session, global cues such as bond yield movement, oil prices, and FII activity will be the key market movers. Back home, Q3 earnings of RIL, HDFC Life, Vodafone Idea, PVR, and SBI Life will be keenly tracked by market participants. Watch video

The bulls roared on Dalal Street as the Nifty closed above 17,900. Except IT, pharma, and power, all other sectoral indices ended in the green with auto, bank, metal, realty and oil & gas indices up 1-2 percent. The BSE Midcap index added 0.36 percent, while the Smallcap index ended on a flat note. The Nifty50 closed at 17,925 and the BSE Sensex at 60,233. The Nifty has given a breakout of descending broadening wedge formation and the next resistance will be around 18,000-18,050 levels. On the downside, supports have been now placed at 17,750-17,800. The index is traveling above its short and medium-term moving averages which is a positive sign and the participation from largecap counters is what gives confidence to investors. Though the global markets had mixed cues ahead of the release of the US Federal Reserve meeting minutes, on the domestic front traders are more hopeful with the RBI's decision to keep the reverse repo rate unchanged in the next policy amid an increase of corona cases. The major contribution has come from Bank Nifty which has given nearly 4,000 or 12 percent from the recent bottom in the last couple of weeks. The move seems to continue if it breaks and sustains above 38,000 levels.