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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.
The frontline indices jumped more than 2 per cent on Monday as the announcement of the plan to merge HDFC into HDFC Bank set their stocks soaring
Brokerages are advising their retail clients to buy shares of Gail to take advantage of the arbitrage opportunity.
The Sensex rose 708.2 points, or 1.2 per cent, to end at 59,277 - the highest closing level since February 2
Only half of the 52 firms that got listed managed to give Nifty-beating returns
However, the gains were muted compared with the previous financial year, when the market soared 70 per cent, thanks to the sharp rebound from Covid-19 lows
The Sensex rose 740 points, or 1.3 per cent, to end the day at 58,684, the highest since February 10.
According to brokers and mutual fund transfer agents, millions of demat accounts as well as mutual fund (MF) folios are yet to link their PAN and Aadhaar
At present, the company generates over 90 per cent of its revenues from southern states.
The brokerage said the options data suggests that the Nifty has strong support around 17,000 and then 16,800, which can act as a stop-loss for those initiating long positions
Most companies had to hit pause on their fund-raising plans amid a sharp fall in the stocks, more so for those in the broader market.
But their domestic counterparts buy Rs 1,373 crore of stocks
Dan Fineman, co-head of Asia Pacific, Securities Research, Credit Suisse, says the brokerage would like to upgrade India if an opportunity arises
For the ongoing fiscal year, the industry is expected to clock record revenues of Rs 28,000 crore, which will be around 30 per cent higher than those in FY21
The market is still pretty with two-year returns for Nifty at 2.3 times, while the Nifty Midcap 100 and Smallcap 100 were up a sharper 2.7 times and 3.1 times, respectively.
RIL, IT stocks lead rally; Sensex set to reclaim 58K mark
As the Russian invasion of Ukraine continued to drag on, markets declined on Monday, pushing oil prices even higher.
With IPO deals drying on the mainboard, high net-worth individuals (HNIs) and savvy investors have shifted their focus on small and medium enterprises (SME) at bourses.
DIIs have stepped up buying in the past six months and safeguarded the markets from a steep fall amid the relentless sell-off by FPIs.
Experts also said the sharp bounce in China's market is favourable for global equities
A 25 per cent drop in crude prices from recent highs, favourable outcome in state polls and bargain hunting after a sharp drop in the market have propelled the market.