Shankar Sharma at BFSI Summit: Budget 2023 shouldn't tinker with LTCG tax

Market closing: The S&P BSE Sensex dropped 241 points to end at 60,826 levels in a broad-based sell-off. The Nifty50 gave up the 18,150-mark to close at 18,127, down 72 points

4:04 PM

BFSI Summit LIVE: Politics serves a central role to the equity markets, says Shankar Sharma

4:02 PM

BFSI Summit LIVE: Budget 2023 should not increase LTCG for the time, says Shankar Sharma

4:00 PM

BFSI Summit LIVE: If real estate is hurt by raising rates, it will hurt overall growth, says Shankar Sharma

3:56 PM

BFSI Summit LIVE: Don't think RBI should have raised interest rates, says Shankar Sharma

3:54 PM

BFSI Summit LIVE: Internal debt to GDP & external debt to GDP conservative indicators of economy, says Sharma

3:47 PM

BFSI Summit LIVE: India will feature in the top two performing markets going ahead, says Shankar Sharma

3:46 PM

BFSI Summit LIVE: China uses huge accumulation of debt to fund growth, says Shankar Sharma

>> The real estate bubble busted in Chinese economy due to huge debt accumulated to fund business growth

3:43 PM

BFSI Summit LIVE: Investors prefer India over China post pandemic, says Shankar Sharma

3:41 PM

BFSI Summit LIVE: India stands 2nd after US in terms of investment returns, says Shankar Sharma

>> Building blocks of Indian markets were laid in 1991
>> Taiwan's market cyclical in nature due to semi-conductors
>> Equity market returns over 30 years has been the US
>> India is the second in the world, in terms of returns after US

3:38 PM

Sectoral Movers: Nifty Auto, PSU Bank, Realty worst hit

3:35 PM

Sensex 30 Heatmap:: 24 Losers v/s 6 Gainers

3:35 PM

BFSI Summit LIVE: Indian markets playing catch up with global peers, says Shankar Sharma

3:34 PM

CLOSING BELL:: Nifty 50 ends at 18,127, down 72 points

3:32 PM

CLOSING BELL:: S&P BSE Sensex ends 241 points lower at 60,826

3:25 PM

Trillions wiped off, here's how 2022 shocked, rocked global markets

Trillions of dollars wiped off world stocks, bond market tantrums, whip-sawing currency and commodities and the collapse of a few crypto empires - 2022 has been perhaps the most turbulent year investors have ever seen, and for good reason. READ MORE

3:15 PM

NEWS ALERT:: Ramco Systems broads okay fund raise

Ramco Systems board has approved issue of up to 14.60 lakh fully convertible equity warrants at Rs 274 each to the promoters. Further, it will also issue up to 43.80 lakh convertible warrants to promoters and non-promoter group at the same price.

3:10 PM

BFSI Summit LIVE: Adopted a multi-asset approach as gold, silver may perform well if Fed slows hikes

Adopted a multi-asset approach as gold, silver may perform well if Fed slows hikes, says Sankaran Naren, CIO, ICICI Prudential MF.

 

3:06 PM

BFSI Summit LIVE: If we see a global recession, India may not continue to stay decoupled, says Mahesh Patil

Long-term outlook of Indian markets remains firm but in the short-term, volatility is likely inevitable and I suggest investors to be ready to take a hit on their portfolio, says Mahesh Patil CIO, Aditya Birla Sun Life MF.

3:05 PM

Global Check:: US, UK stock futures trade on a flat note

Source: Investing.com

2:59 PM

Tata Communications to acquire US-based Switch Enterprises for Rs 486 cr

With both companies coming together, Tata Communications will support The Switch customers with global reach to over 190 countries and territories and The Switch will bring live production capabilities helping organisations to produce high quality immersive content faster and efficiently, Tata Communications said in a statement. READ MORE

2:49 PM

BFSI Summit LIVE: Budget doesn't need to change your asset class allocation, says Lakshmi Iyer

Asset classes deliver returns in cycles and are agnostic to budget, says Lakshmi Iyer, CEO - Investment Advisory, Kotak Investment Advisors.

Lakshmi Iyer, CEO, Investment Advisory, Kotak Investment Advisors

2:45 PM

BFSI Summit LIVE: Govt likely to prioritise growth going into elections; don't expect anything -ve from Budget

Govt likely to prioritise growth going into elections; don't expect anything -ve from Budget except tax, says Mahesh Patil, CIO, Aditya Birla Sun Life MF

2:44 PM

NEWS ALERT:: Zydus gets final USFDA nod for Selexipag Tablets

Zydus Lifesciences informed BSE, that it received final approval and 180 days shared exclusivity from the USFDA for Selexipag Tablets. 

2:44 PM

BFSI Summit LIVE: Two decades of low rates keeping quality stocks overvalued currently, says Rajeev Thakkar

>> We will see time correction in quality stocks as well as loss-making companies now as rates rise, says Rajeev Thakkar CIO  PPFAS MF

2:43 PM

BFSI Summit LIVE: Foresee time-correction when stock prices rise and earnings play catch up, says PPFAS MF CIO

2:39 PM

BFSI Summit LIVE: Structural story for India strong; corrections good opportunity to buy equities

Risk-reward is very balanced at the current juncture, says Mahesh Patil, CIO, Aditya Birla Sun Life MF.

2:38 PM

BFSI Summit LIVE: Investors should be invested more in debt vs equity in the short-term, says SBI MF CIO

>> Negative on equity because valuations are way too high
>> Investors should be invested more in debt vs equity in the short-term

2:36 PM

BFSI Summit LIVE: Impact of likely recession in West still uncertain, says Mahesh Patil

Investors worried about the uncertain period set to begin now, which has clouded sentiment and made some money move out, said Mahesh Patil, CIO, Aditya Birla Sun Life MF.

2:35 PM

BFSI Summit LIVE: Debt becoming a structural asset, says S Naren, CIO, ICICI Pru MF

As debt becomes structural, it becomes a competitor for equity, says S Naren, CIO, ICICI Pru MF. 

2:32 PM

Infection rate could be over 50% in Beijing, situation critical: Report

China ceased its strict zero-Covid policy in November and since then, the country has seen a spike and the spread has been faster than anticipated. READ MORE