Category: Market

Rice prices soared to the highest levels in almost 15 years in Asia on mounting concerns over global supplies as dry weather threatens production in Thailand and after top shipper India banned some exports, media reports said.

Tata Group-owned BigBasket’s B2B arm Supermarket Grocery Supplies Pvt Ltd’s losses widened 21 per cent to Rs 215.2 crore in FY23, the media reported on Wednesday.

The cost of preparing a vegetarian thali at home has gone up by 34 per cent while that of a non-vegetarian thali went up by 13 per cent in July as compared to the input prices that prevailed in June 2023, CRISIL said in a report.

According to Pranav Haldea, Managing Director, Prime Database Group, this was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs. Net inflows from DIIs stood at just Rs 3,368 crore during the quarter.

India's economic growth efforts could get the tailwinds from its geopolitical position, said S&P Global Ratings in a report on the country's quest for stable and high economic growth.

The macro challenge in the decade ahead will be to achieve sustained high, stable and inclusive growth, which has thus far been elusive, S&P Global said in a report titled India's Moment.

There seems to be no respite for the people from the rising prices of tomatoes in Tamil Nadu as the wholesale price of the vegetable touched Rs 200 per kilogram in the state capital and many towns on Sunday.

It appears that the momentum of buying has slowed down and FPIs have turned sellers during the last two trading days, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

The Dow, up 7 per cent for the year, was flat on Thursday after rallying in recent weeks as cooler-than-expected inflation data has investors more optimistic that a soft landing, or no recession, could be in the cards for the economy, CNN reported.

In the last two days, FPIs have sold stocks worth Rs 2,081 crore indicating buying exhaustion, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

For investors, the market is buys on dips with a strict stop loss of 19500, and if the Nifty closes below the indicated level, we can expect more profit booking, says Deven Mehata, Equity Research Analyst, Choice Broking.

India may be sending spacecraft to orbit the Moon and Mars, and plans to send one to study the Sun and Venus, and finally, humans to space in the last four decades of this century, but its presence in the global space sector market is a mere two-three per cent.

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.