Report Wire

Tag: nifty 50

  • Markets tumble after preliminary rally amid blended international developments

    Equity indices began the commerce on a agency observe on Monday with the Sensex climbing 254 factors, however inside minutes, the benchmarks pared all early beneficial properties to commerce within the unfavorable territory.

    The BSE benchmark was buying and selling with a soar of 253.69 factors at 51,614.11 in early commerce. The Nifty too gained 69.6 factors to fifteen,363.10.

    But, the benchmark indices failed to carry on to the preliminary beneficial properties, with the Sensex quoting 287.1 factors decrease at 51,073.32, whereas the Nifty declined by 94.75 factors to fifteen,198.75.

    From the Sensex pack, Tata Steel, M&M, PowerGrid, Tech Mahindra, Larsen & Toubro and ICICI Bank have been among the many main laggards.

    Best of Express PremiumPremiumPremiumPremiumPremium

    On the opposite hand, HDFC, Hindustan Unilever, Sun Pharma and HDFC Bank have been among the many gainers.

    In Asia, markets have been buying and selling on a blended observe, with Tokyo and Seoul quoting decrease, whereas Shanghai and Hong Kong have been buying and selling within the inexperienced.

    Stock exchanges within the US ended principally larger on Friday.

    Meanwhile, worldwide oil benchmark Brent crude dipped 0.18 per cent to USD 112.95 per barrel.

    Foreign institutional buyers (FIIs) remained internet sellers within the capital market, as they offered shares value Rs 7,818.61 crore on Friday, as per change information.

  • Sensex tumbles 375 factors in early commerce amid weak international markets

    Equity benchmarks fell for the third day working on Tuesday, with the Sensex tumbling 375 factors in early commerce, monitoring weak international markets as buyers remained cautious forward of the Federal Reserve assembly end result.

    Unabated overseas fund outflows continued to weigh on the home fairness markets.

    The 30-share BSE benchmark was buying and selling 374.72 factors decrease at 52,471.98. The Nifty declined by 100.15 factors to fifteen,674.25. From the Sensex pack, Asian Paints, Tech Mahindra, IndusInd Bank, HDFC Bank, Titan and HDFC had been the foremost laggards in early commerce.

    On the opposite hand, Bharti Airtel, Power Grid, NTPC, M&M and Bajaj Finserv had been among the many gainers.

    Best of Express PremiumPremiumPremiumPremiumPremium

    Elsewhere in Asia, markets in Seoul, Tokyo, Hong Kong and Shanghai had been buying and selling decrease in mid-session offers. Stock exchanges within the US ended sharply decrease on Monday.

    The 30-share BSE Sensex tumbled 1,456.74 factors or 2.68 per cent to settle at 52,846.70 on Monday. The Nifty tanked 427.40 factors or 2.64 per cent to fifteen,774.40.

    “The Fed is scheduled to make its next policy announcement on Wednesday and investors will be highly focused on any clues for how aggressive the central bank intends to be in raising rates,” stated Mohit Nigam, Head – PMS, Hem Securities.

    Meanwhile, worldwide oil benchmark Brent crude fell 0.02 per cent to USD 122.24 per barrel.

    Foreign institutional buyers (FIIs) remained internet sellers within the capital market, as they bought shares value Rs 4,164.01 crore on Monday, as per trade information.

  • Sensex nosedives 1,394 factors in early commerce; Nifty tanks to fifteen,800 stage

    The Sensex additional plummeted over 1,394 factors in early commerce on Monday, whereas the Nifty slumped to the 15,800 stage, monitoring weak world markets and unrelenting overseas fund outflows.

    Weakness in index majors Reliance Industries and ICICI Bank additionally weighed on the home fairness markets.

    The 30-share BSE benchmark was buying and selling 1,394.17 factors decrease at 52,909.27. The Nifty tanked 399.55 factors to fifteen,802.25.

    All the 30-share Sensex pack of companies had been buying and selling decrease in early commerce, with Bajaj Finserv, Bajaj Finance, ICICI Bank, State Bank of India, Reliance Industries, Kotak Mahindra Bank, Tech Mahindra and IndusInd Bank rising as the key laggards.

    Best of Express PremiumPremiumPremiumPremiumPremium

    The BSE benchmark index had ended 1,016.84 factors or 1.84 per cent decrease at 54,303.44 on Friday. The broader NSE Nifty plunged 276.30 factors or 1.68 per cent to 16,201.80. Elsewhere in Asia, markets in Seoul, Tokyo, Hong Kong and Shanghai had been buying and selling with deep cuts in mid-session offers.

    Stock exchanges within the US ended sharply decrease on Friday. “The near-term market development is weak. The May US inflation print at 8.6 per cent towards the market expectation of 8.3 per cent is more likely to flip the Fed extra hawkish.

    “Such a scenario would be negative for risky assets like equity, particularly in the context of declining global growth. The Indian market will stabilize only when the US market stabilises,” mentioned V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

    Meanwhile, worldwide oil benchmark Brent crude fell 1.37 per cent to USD 120.31 per barrel.

    Foreign institutional traders (FIIs) remained web sellers within the capital market, as they bought shares value Rs 3,973.95 crore on Friday, as per change information.

  • Stock Market Today: Indices erase intraday positive factors, finish a tad decrease; Sensex slips 49 factors

    The benchmark fairness indices on the BSE and National Stock Exchange (NSE) erased their intraday positive factors and ended with marginal cuts on Friday.

    The S&P BSE Sensex slipped 48.88 factors (0.09 per cent) to finish at 55,769.23 whereas the Nifty 50 declined 43.70 factors (0.26 per cent) to settle at 16,584.30. Both the indices had opened over 0.75 per cent increased earlier within the day and traded within the optimistic territory by way of a lot of the session earlier than giving up the positive factors and slipping within the purple over the last hour.

    Ultratech Cement, Maruti Suzuki India, NTPC, Axis Bank, Bajaj Finserv, IndusInd Bank, Mahindra & Mahindra (M&M), Bharti Airtel, Tata Steel and State Bank of India (SBI) had been the highest laggards of the day. In distinction, Reliance Industries (RIL), Infosys, Larsen & Toubro (L&T), Sun Pharmaceutical Industries, Tata Consultancy Services (TCS) and Wipro had been the highest gainers.

    Among the sectoral indices on NSE, Nifty Auto fell 1.82 per cent, Nifty Bank declined 0.95 per cent, Nifty Metal slipped 1.27 per cent and Nifty Media crasked 1.52 per cent.

    Best of Express PremiumPremiumPremiumPremiumPremium

    In the broader market, the S&P BSE MidCap ended at 22,774.98, down 336.23 factors (1.45 per cent) whereas the S&P BSE SmallCap settled at 26,384.14, down 310.64 factors (1.16 per cent).

    “The late sell-off indicates the lack of confidence in the domestic market driven by the concerns over Central Bank policy. While in the global market, the investors were waiting for the release of US job data. The RBI is expected to hike rates by 25 bps to 35 bps and the Fed by 50 bps, but the outlook & changes in the economic growth and inflation will determine the market trend. If the central banks decide on a stringent policy tightening, the market mood can swing bearish,” stated Vinod Nair, Head of Research at Geojit Financial Services.

    Global market

    Global shares rose Friday amid blended indicators for buyers comparable to rising power costs and COVID-19 restrictions easing in China.

    European shares edged up in early buying and selling, with France’s CAC 40 gaining 0.3 per cent to six,517.73. Germany’s DAX added 0.3 per cent to 14,528.45, whereas buying and selling was closed in Britain for a nationwide vacation.

    Trading additionally was closed in China for the Dragon Boat Festival, a nationwide vacation. Benchmarks in the remainder of Asia edged increased, cheered by a rally in a single day on Wall Street.

    The future for the Dow industrials was down 0.2 per cent at 33,161.00. The S&P 500 future fell 0.3 per cent to 4,164.75.

    -global market enter from AP

  • Stock Market Today: Sensex surged over 750 factors in early commerce, Nifty over 16,550-mark; IT shares acquire

    The benchmark fairness indices on the BSE and National Stock Exchange (NSE) opened over 1 per cent larger on Monday taking cues from their Asian friends.

    At 9:22 am, the S&P BSE Sensex was up 752.85 factors (1.37 per cent) whereas the Nifty 50 was buying and selling at 16,571.00, up 218.55 factors (1.34 per cent).

    On the Sensex pack, all of the shares had been buying and selling larger. Infosys, HCL tech, Wipro, Titan Company, Tech Mahindra and Ultratech Cement had been the highest gainers in early commerce.

    More to comply with

    Best of Express PremiumPremiumPremiumPremiumPremium

  • Sensex rallies 353 factors in early commerce

    Benchmark indices on Thursday made a agency begin because the Sensex rallied 353 factors in early commerce on shopping for in HDFC twins and ICICI Bank amid optimistic traits in international markets.

    The 30-share BSE Sensex jumped 353.1 factors to 54,102.36 factors. The broader NSE Nifty gained 104.1 factors to 16,129.90 factors.

    From the Sensex pack, Tech Mahindra, Nestle, HDFC Bank, HDFC, ICICI Bank and TCS have been among the many outstanding gainers in early offers.

    In distinction, Asian Paints, Maruti, NTPC, Hindustan Unilever Limited and M&M have been among the many lagards.

    The Sensex tanked 303.35 factors or 0.56 per cent to settle at 53,749.26 factors on Wednesday. The Nifty declined 99.35 factors or 0.62 per cent to finish at 16,025.80 factors.

    Asian markets in Seoul, Shanghai and Tokyo have been buying and selling within the inexperienced whereas Hong Kong quoted marginally decrease.

    Stock markets within the US had ended greater on Wednesday.

    “There are indications of market stabilising and consolidating round present ranges. In the mom market, US, there’s a sturdy view that the fears of recession are overdone.

    “For the Indian economy, elevated crude prices will continue to be a major headwind and sustained FPI selling, which can be expected to continue, will be a major hurdle for the market to rally,” V Okay Vijayakumar, Chief Investment Strategist at Geojit Financial Services, mentioned.

    International oil benchmark Brent crude jumped 0.35 per cent to USD 114.47 per barrel.

    Continuing their promoting spree, international institutional traders offloaded shares value a web Rs 1,803.06 crore on Wednesday, as per inventory change knowledge.

  • Indian share, commodity and foreign money markets closed on account of Holi

    Indian inventory, commodity and cash markets will stay shut on Friday, March 18, 2022, on account of Holi. They will resume buying and selling on Monday, March 21, 2022.

    On Thursday, the S&P BSE Sensex rallied 1,047.28 factors (1.84 per cent) to settle at 57,863.93 whereas the Nifty 50 climbed 311.70 factors (1.84 per cent) to finish at 17,287.05.

    The rupee spurted by 37 paise to shut at 75.84 towards the US greenback on Thursday, supported by optimistic home equities and broad greenback weak spot after the US Federal Reserve hiked charges.

    Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities stated, “Previously, the area of 16,800-17,000 level has acted as a strong support for the market in past and the recent downside breakout of it has resulted in a 1,000 points decline in short span of time. Hence, present decisive upside breakout of this area could indicate continuation of sharp upside momentum for the near term. The potential upside targets to be watched around 17,800-18,000 levels in the next few weeks. Immediate support is placed at 17,050 levels.”

  • Are rising markets like India cheaper than the US market?

    Going again to the basics of investing and market valuations let’s perceive if the markets are at the moment overvalued or undervalued. The query turns into vital within the mild of value corrections after geopolitical tensions between Russia and Ukraine that noticed indexes right throughout geographies. We will have a look at the price-to-earnings (P/E) ratio which is a well-liked monetary metric that helps traders analyse the general valuations of the indexes.

    How costly is the Nifty 50 index

    The Nifty 50 index is at the moment buying and selling at about 18.5-19×12-month ahead P/E which is near its historic common P/E of 19. The index was buying and selling at 22-23x ahead P/E till just lately. This a number of was additionally the best as compared with different rising markets as per knowledge from the Goldman Sachs report in January. The Nifty 50 index noticed its highest ranges of P/E ratio of round 40x in February-March final yr and the bottom P/E ratio was about 11 occasions seen in May 2003. After the latest correction seen within the home markets adopted by that within the world markets, the 12-month ahead P/E ratio of the Nifty 50 index has come down. However, the market cap-to-GDP ratio for the index is about 98% and in accordance with the unique Buffet Indicator, which means that the markets are ‘modestly overvalued’. Goldman Sachs, in its report in January, acknowledged that it prefers rising economies like Mexico over India for investments amongst rising economies largely as a result of lofty valuations seen within the Indian markets. However, the latest corrections seen on the index made most analysts re-examine their views which noticed some cooloff within the valuations. Although the valuations are down from the highs seen final yr through the pandemic, and the start of 2022, analysts imagine that the continued headwinds are more likely to see additional corrections within the markets. The earnings progress of 28.3% for FY22 and 11.7% for FY23 should still work in favour of the bulls partially within the home markets which can probably stop markets from a steeper correction.

    How costly is the S&P 500 index

    Moving on to the worldwide markets, we noticed the S&P 500 index buying and selling at 2,400 ranges in March 2020 when markets noticed an enormous sell-off initially of the pandemic and that was when markets have been thought-about undervalued. The S&P 500 index is at the moment buying and selling at 4,300 ranges and noticed its latest lows of 4,225 on 23 February. The ahead 12-month P/E for the index is round 18.5x as in opposition to the five-year common of 18.6x. Its ahead 12-month EPS estimate is about $229. However, the S&P 500 index continues to be buying and selling above the 10-year, 20-year and 25-year historic common P/Es of 16.7, 15.5, and 16.5 respectively at present ranges.

    According to historic knowledge, the S&P 500 common P/E ratio for the final 40 years (1981-2020) is about 21.92. The highest P/E on the index was round 123.73 in May 2009 (after the market crash), and the bottom was 5.31 seen in December 1917. Markets are at the moment buying and selling nearer to the historic five-year common P/E and decrease than the highs of final yr (P/E of 45.89 seen in July 2021). When we take into account the earnings estimates of the index, it’s at the moment buying and selling at about 19.25 occasions the 2022 earnings estimates and 17.50 occasions the 2023 earnings estimates (decrease than the 40-year historic common P/E of 21.92) which explains why traders are transferring in direction of world and US markets purely on valuations perspective after the latest corrections. The S&P 500 index noticed a report stage of 4,796 on 3 January, with a ahead 12-month P/E a number of of round 21-22x at the moment. The index has corrected near 12% from its January peak at the moment and this has been the main catalyst of the lower within the P/E ratios to present ranges. Additionally, on the sectoral stage, a number of the S&P 500 sectors like healthcare, and communication companies are all buying and selling beneath the five-year sectoral averages and beneath the S&P 500 index five-year common P/E ratios.

    Conclusion

    Emerging markets together with India are principally taking a success on the again of slowdown in China, rising crude oil costs, larger inflation within the world markets and extra just lately the worsening Ukraine-Russia disaster that are resulting in fund outflow from the markets. However, valuations of US and Indian shares have come off from their stretched ranges of final yr and are actually buying and selling nearer to their historic averages. If you have a look at P/E for 2 indices: Nifty 50 and S&P 500, the ahead PE a number of is extraordinarily related. Robust earnings progress within the coming quarters are more likely to additional convey down the PE a number of for the S&P 500.

    Menaka Reddy, is affiliate, Investment Research (US Equities)

    Subscribe to Mint Newsletters

    * Enter a legitimate electronic mail

    * Thank you for subscribing to our e-newsletter.

    Never miss a narrative! Stay related and knowledgeable with Mint.
    Download
    our App Now!!

  • Indian share, commodity and forex markets closed on account of Mahashivratri

    Indian inventory, commodity and cash markets will stay shut on Tuesday, March 1, 2022, on account of Mahashivratri. They will resume buying and selling on Wednesday, March 2, 2022.

    On Monday, the S&P BSE Sensex surged 388.76 factors (0.70 per cent) to settle at 56,247.28 whereas the Nifty 50 climbed 135.50 factors (0.81 per cent) to finish at 16,793.90.

    The rupee closed flat at 75.33 towards the US greenback on Monday.

    Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The short-term trend of Nifty remains positive with range bound action. Any decisive upside breakout of 17,000 levels is likely to pull Nifty towards 17500 levels in a quick period of time. However, an inability of bulls to sustain above 16,800 levels could trigger another round of downward correction to 16,300 levels in the near term.”

  • Indian share, commodity and foreign money markets closed on account of Republic Day

    The Indian inventory, commodity and cash markets will stay shut on Wednesday, January 26, 2022, on account of Republic Day. They will resume buying and selling on Thursday, January 27, 2022.
    On Tuesday, the home inventory markets snapped out of a five-day dropping streak and staged an intra-day comeback. After plunging to a low of 56,409 at one stage, the S&P BSE Sensex rallied 1,448 factors intra-day to shut with a acquire of 367 factors (0.64 per cent) at 57,858.15 whereas the Nifty 50 rose 129 factors (0.75 per cent) to 17,277.95 on cut price searching.
    The rupee declined by 18 paise to shut at 74.78 towards the US greenback.

    Commenting on the outlook for Nifty, Nagaraj Shetti, Technical Research Analyst at HDFC Securities mentioned, “The sharp downtrend in the market seems to have halted at the important support and the market is now ready to show upside bounce. A confirmation of bottom reversal as per Tuesday’s low is likely to pull Nifty towards the upper 17,800 levels in the near term. Any dips could find support around 17,100 levels.”