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Technically, Nifty formed a Bearish candle on a daily scale but presence of long lower shadow indicates that declines were quickly bought. Now, it has to hold above 15600 zones to witness an up move towards 15800 and 15900 zones while on the downside support can be seen at 15500 and 15450 zones.
Foreign portfolio investors (FPIs) pumped in a net Rs 13,667 crore so far in June as Indian markets continued to remain attractive to overseas investors. However, market experts noted that FPIs withdrew money from Indian equities this week. According to depositories data, FPIs invested Rs 15,312 crore in equities between June 1 and June 18.
He noted that production at the company's passenger vehicle plants operated at about 50 per cent capacity during the lockdown period in April and May, constrained by pandemic restrictions and compliance to safety protocols as also shortfall in supplies from vendor partners located in auto clusters across various states.
Read about Prashant Jain’s take on value rebound, probability of a losing bet in this bull market, outlook on smallcap space and financials in this week’s edition of ‘Long & Short of Markets’. Talking about one of the important supporting factors for value resurgence , Jain says the corporate NPA cycle is clearly over for India. Also, the smallcap index has rebounded around 290% twice. This time, the index has rallied 182% so far.
Value investor Vijay Kedia asked investors to be careful in good times as more than 4,000 out of 5,000 stocks fit in the category of being "Bhangar Cap". PMS fund manager Shankar Sharma said investors must always insist on knowing how much money the PMS fund manager has made himself in his personal investing career. He also said PMS fund managers who do not charge performance fees should be avoided at all costs.
The transaction, which has come under the lens of Sebi and Reserve Bank of India (RBI) following concerns raised in certain quarters, including by a proxy advisory firm, would eventually see private equity major Carlyle group taking control of PNB Housing Finance, which is a subsidiary of Punjab National Bank.
At home, signs that global liquidity may normalise soon from the extraordinarily high levels seen over the past 14 months due to money printing by major central banks forced investors to dial back on the euphoria seen in many pockets of the market. Both the Nifty50 and BSE-Sensex ended in the red for the week for the first time in five weeks, while broader markets faced deeper cuts.
Bank Nifty ended lower for the consecutive week, it lost 5.3% from the recent high. However today it swiftly recovered from lower levels and ended above 34500. Bank Nifty formed a long legged candle, positive follow-up through could lift it towards 35000. FMCG index rallied for the straight fourth week, sustained up move indicates more room on the upside for FMCG space.
While the pandemic has given a big fillip to ESG investing, it has also resulted in some parts of the investment community seeing it as a fad. The monstrous rally seen in sectors such as steel, energy and power over the past 12 months has been used by some as evidence that sustainable investing is just a trend. This notion has been given some credence by the likes of Warren Buffett and Charlie Munger investing in energy companies over recent years.
In the ranking of top-10 most valued firms, RIL maintained its numero uno status, followed by TCS, HDFC Bank, Infosys, HUL, HDFC, ICICI Bank, State Bank of India (SBI), Bajaj Finance and Kotak Mahindra Bank. During the last week, the 30-share BSE benchmark Sensex declined 130.31 points or 0.24 per cent.
Research from UBS Group AG says that should the Federal Reserve turn off the spigot on its annual $1.4 trillion in quantitative-easing spending, the hit to the S&P 500 Index would be a 3% decline in prices. That’s a relatively paltry headwind for companies whose combined earnings growth analysts put at roughly 10% in each of the next two years.
The selloff coincides with the plateauing of earnings estimates and a rotation into growth stocks from value. It didn’t help that leaders of the biggest banks started the week by warning about a slump in trading revenue. Without stronger lending and a boost from higher interest rates, earnings probably won’t pick up.
On Thursday, Reliance Industries will hold its annual general meeting, which more often than not ends up dictating how the next 12 months for the company’s stock will fare. This time around, investors' focus will be on the proposed launch of a Budget smartphone in tie-up with Google, progress on the 5G technology deployment, update on the deal to sell part of the energy business to Saudi Aramco and progress on e-commerce initiatives.
The Department of Economic Affairs has stipulated a minimum offer size of at least Rs 5,000 crore or 5% of issued capital “if the post-issue capital of the company calculated at offer price is above one lakh crore rupees,” according to the notification.
Gone are the days when brokers manufactured their products in-house. Now they partner with startups that offer these services in the digital mode. Startups are giving brokerages a technological edge with a range of products and services for investors — from helping them buy overseas equities to offering trade simulators.
Kashkari said he believes higher prices are being driven by a reopening economy and will subside as supply constraints recede.
In 2020-21, NTPC group recorded the highest ever gross generation of 314.07 BU as against 290.19 BU during the previous year.
EIG said the co-investment process for the deal attracted a global group of investors from China, Saudi Arabia, Korea, the United Arab Emirates and the United States.
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