Category: Market

FPI flows into India continue unabated in July, too. India is the largest recipient of FPI flows YTD among emerging markets, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The substantial cut in the guidance is majorly attributed to lower-than-expected volume and discretionary spends, delays in decision-making and push-outs in anticipated mega deals, the report said.

Nifty opened flat on Thursday, but soon gained momentum to close with handsome gains of 146 points at 19,979 levels, said Siddhartha Khemka, Head of Retail Research at Motilal Oswal Financial Services.

Comparing the newly discovered ex-JFSL price of RIL shares, and the pre-demerger cum-JFSL share price on the previous day, the market has valued each JFSL share at Rs 261.85 on the NSE.

The market discovered price of Rs 261.85 per share of Jio Financial Services has come much higher than most brokerages' estimates, says V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Indian benchmark indices continued the winning run for the fifth consecutive session on July 19, amid buying across sectors, said Vikram Kasat, Head Advisory, Prabhudas Lilladher.

After witnessing high volatility at the highs on Tuesday, Nifty witnessed choppy movement for mid part and sharp upsurge in the later part of Wednesday and closed the day higher by 83 points, says Nagaraj Shetti, Technical Research Analyst, HDFC Securities

According to the central bank's monthly bulletin, which was released on Monday, India's per capita income is currently estimated at $2,500, while it must be more than $21,664 by 2047, as per World Bank standards, to be classified as a high-income country.

Elon Musk-run SpaceX now controls 60 per cent share of the global launch business, as he aims to bring Starlink, which uses low-orbit satellites to provide broadband internet connections, to India.

As tomatoes are still sold at a premium rate of Rs 160 per kg in many parts of the country, the government on Sunday said that it has decided to sell the vegetable at Rs 80 per kg from Sunday (July 16) onwards.

The valuations in China at a PE of 9 is hugely attractive now compared to valuations in India with a PE of around 20 and, therefore, the ‘Sell China, Buy India’ policy of FPIs cannot continue for long, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

A sharp rally in IT stocks powered the Sensex to close above the 66,000-mark for the first time ever on Friday. IT heavyweights led the rally as the BSE Sensex closed at 66,060, up 502 points.

India's wholesale price index (WPI) based inflation further fell to stand at -4.12 per cent in June, from -3.48 per cent in May, according to the commerce ministry data released on Friday.

A visit to the Ghazipur vegetable Mandi revealed a distressing reality that the wholesale market is experiencing up to a 66 per cent reduction in supply, resulting in retail prices skyrocketing up to four times the regular selling price.

Weak global cues and profit booking in domestic equities dragged the key indices down on Friday. Nifty opened lower and remained in negative territory throughout the session to close near the day’s low with a loss of 166 points (-0.8 per cent) at 19,332 levels.

The strengthening of the US dollar and the slight reduction in global recession concerns have resulted in a decline in gold prices, said an analyst with Geojit Financial Services. 

The e-commerce transaction value in India is likely to rise from $83 billion in 2022 to nearly $150 billion in 2026 at a 16 per cent compound annual growth rate, a report showed on Wednesday.

It seems to be a merger season in the Indian banking sector. On Monday, the Board of Directors of listed IDFC FIRST Bank Ltd approved the composite scheme of amalgamation amongst IDFC Financial Holding Company Ltd, IDFC Ltd and the bank.

The valuation gap between the two major private sector banks – HDFC Bank (post merger of HDFC Ltd) and the ICICI Bank Ltd - may not widen in the short run, said an analyst with LKP Securities.

On the other hand, countries such as South Korea, Taiwan and Indonesia have received far less inflows compared to India, Jahnavi Prabhakar, Economist at Bank of Baroda, said in a report.

Out of the GST collected in June, CGST was Rs 31,013 crore, SGST was Rs 38,292 crore, IGST was Rs 80,292 crore (including Rs 39,035 crore collected on import of goods) and cess Rs 11,900 crore (including Rs 1,028 crore collected on import of goods).

Statistics Canada said on Tuesday this was the smallest increase since June 2021 and the slowdown was largely driven by lower year-over-year prices for gasoline resulting from a base-year effect, Xinhua news agency reported.

A Mumbai share-broker has been arrested for allegedly indulging in illegal 'dabba trading' activities worth over Rs 4,600-crore between March and June, officials said here.

Industry experts said the upward trend will be there for some more months and the markets may turn nervous during the next round of state elections in November/December 2023.

With a value of Rs 16.3 lakh crore, Reliance Industries is India's most valuable company, followed by Tata Consultancy Services (TCS) with Rs 11.8 lakh crore and HDFC Bank with Rs 9.4 lakh crore.