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Sundar Sethuraman covers equity markets and investment banking. Starting his career as a desk hand, he moved to a reporting role in 2016 and has worked in New Delhi, Mohali and Mumbai. He stumbled into journalism after wasting his prime in the bylanes of Trivandrum. He manages an Instagram page about his home town in memory of his flaneur days. He prefers political news over spectator sports and peppers his conversations with film references, and has read more blurbs than books. A keen explorer of Mumbai's food scene, he is the go-to resource for restaurant recommendations in Business Standard's Mumbai office.
Sundar Sethuraman covers equity markets and investment banking. Starting his career as a desk hand, he moved to a reporting role in 2016 and has worked in New Delhi, Mohali and Mumbai. He stumbled into journalism after wasting his prime in the bylanes of Trivandrum. He manages an Instagram page about his home town in memory of his flaneur days. He prefers political news over spectator sports and peppers his conversations with film references, and has read more blurbs than books. A keen explorer of Mumbai's food scene, he is the go-to resource for restaurant recommendations in Business Standard's Mumbai office.
Coal India, HCL Tech and L&T were among the most-sold stocks by domestic funds in October even as they rallied between 10% and 16%
FSN E-Commerce Ventures (Nykaa) issued a 5:1 bonus issue around the time the one-year lock-up for its pre-initial public offering (IPO) investors ended
Their holdings rose to 24.03 per cent as on September 30 this year, up from 23.54 per cent at the end of the preceding quarter
Some firms may blue-pencil valuations because of capital requirement compulsions or for providing exits to their investors. Still others can afford to wait
Consensus target price for these stocks well above current market price
Last week, the benchmark Nifty and Sensex came close to topping their lifetime highs made in October 2021. Domestic brokerage ICICIdirect expects the Nifty to not just surpass its previous highs
Cash market turnover fell almost 20% in October as rally take traders by surprise
Benchmark indices gained in 11 of the past 12 trading sessions
US and European markets gained in October after a sharp sell-off in September
The Sensex ended above 60,000 and the Nifty above 18,000 for the first time since September 14
In Q&A, Rajesh Bhatia spells out the key tailwinds and risks the domestic markets face at this juncture and how a long-short fund can help protect downside risks
However, on a YTD basis, the S&P BSE Sensex declined 7%. The Dow fell 9.6%; the Euro Stoxx 50 down 26%
Overseas funds dumped Rs 4,081 crore worth of shares of companies in the financial services sector, while IT shares worth Rs 1,665 crore were sold, according to data collated by primeinfobase.com
Bank Nifty index has been outperforming the benchmark Nifty. It has gained 4% in the past one month and 16% YTD. In comparison, Nifty is up less than 2% both on a one-month and YTD basis
Selling pressure is seen whenever the lock-in period meant for IPO anchor investors ends, particularly in companies backed by private equity investors
Profit-booking comes to play, investors dump FMCG, pvt banking stocks
Sensex, Nifty gain 0.9%, most in Muhurat trading since Samvat 2065
The benchmark Nifty ended Samvat 2078 at 17,576. The Sensex finished at 59,307, logging marginally negative returns
The top five issues accounted for nearly two-thirds of the IPO fund raise
Weakness in global equities was on the back of runaway inflation, disruption in commodity prices due to the Russia-Ukraine war, lockdowns in China, and unspooling of post-pandemic stimulus