Page 1509 - Markets News
'Risks to global markets could arise from central bank rate actions'
Market is building an earnings growth of 10-12 per cent for FY23, which seems achievable given the present earnings momentum and economic outlook, says Sanjay Chawla of Baroda BNP Paribas MF.
 "'Risks to global markets could arise from central bank rate actions'")
Sensex down 413pts, Nifty holds 17,850; Ceat soars 20%, MRF 7%; IT stks dip
CLOSING BELL: IT, pharma, and select metal stocks reeled under pressure today with Hindalco, Infosys, Cipla, Tech M, Tata Steel, Divis Labs, and Apollo Hospitals leading the list of Nifty losers
 "Sensex down 413pts, Nifty holds 17,850; Ceat soars 20%, MRF 7%; IT stks dip")
Nifty Bank forms Golden Cross; SBI, HDFC Bank, ICICI Bk can surge up to 18%
Here are trading strategies for key banking stocks that will help you maximise your gain.
 "Nifty Bank forms Golden Cross; SBI, HDFC Bank, ICICI Bk can surge up to 18%")
Ceat hits over 4-year high on healthy outlook; stock jumps 60% in 3 months
The company expects the overall tyre industry to perform well due to easing of pandemic-led curbs, pent-up demand from OEMs, and replacement segment.
 "Ceat hits over 4-year high on healthy outlook; stock jumps 60% in 3 months")
PVR slips 5% after mega block deals; stock down 17% from 52-week high
According to media report, four investors in movie theatre chain PVR offloaded 7.7% stake in the company via block deals.
 "PVR slips 5% after mega block deals; stock down 17% from 52-week high")
Tamilnad Mercantile Bank makes a muted debut; lists at par with issue price
The stock listed at Rs 510 on the BSE, while it listed with a 6 per cent discount on the NSE
 "Tamilnad Mercantile Bank makes a muted debut; lists at par with issue price")
Shares of these two Tata Group firms zoomed up to 60% in last one week
The share price of Tata Investment Corporation has zoomed 60%, while TRF has appreciated by 58 per cent in past one week on the BSE.
 "Shares of these two Tata Group firms zoomed up to 60% in last one week")
Stocks to Watch: SBI, PVR, Tata Power, Tamilnad Mercantile Bank, CE Info
Stocks to Watch: Investors Gray Birch, Plenty PE & Multiples PE may sell up to 7.74 per cent stake in PVR today in a price range of Rs 1,852-1,929/share, as per reports
 "Stocks to Watch: SBI, PVR, Tata Power, Tamilnad Mercantile Bank, CE Info")
What is holding India back from joining global bond indices?
Despite being a big bond market, India has been struggling to get its bonds listed on global indexes. But it may change soon, as Russia's exclusion has set the ball rolling for India's inclusion
 "What is holding India back from joining global bond indices?")
How will Indian markets react if US Fed goes for a 100 bps hike?
Global equities are rattled amid fear of the US Fed raising the interest rate to tame inflation. But domestic equities settled with marginal cuts of 0.4%. What does this say about Sensex and Nifty?
 "How will Indian markets react if US Fed goes for a 100 bps hike?")
US inflation sends markets on a wild ride; FPIs pull out Rs 1,400 crore
Sensex swings 1,232 points before settling 224 points lower; FPIs pullout Rs 1,400 cr
 "US inflation sends markets on a wild ride; FPIs pull out Rs 1,400 crore")
IT stocks bleed mirroring Nasdaq plunge; Nifty IT index down 3.4%
However, the latest downgrade by Goldman Sachs has come as a setback for the sector
 "IT stocks bleed mirroring Nasdaq plunge; Nifty IT index down 3.4%")
SBI joins Rs 5-trillion market cap club; stock surges 26% in three months
At 09:42 AM, with a market cap of Rs 5.03 trillion, SBI stood at seventh place in the overall market cap ranking of companies, BSE data shows
 "SBI joins Rs 5-trillion market cap club; stock surges 26% in three months")
Use the rally in Vedanta to exit the stock: Analysts
Vedanta on Tuesday inked a pact with the Gujarat government under which the company, along with Taiwan's Foxconn, will jointly invest $19.5 billion to set up a semiconductor project in the state.
 "Use the rally in Vedanta to exit the stock: Analysts")
Further correction in IT stocks not ruled out amid multiple headwinds
The IT industry is seen as a hedge against rupee depreciation
 "Further correction in IT stocks not ruled out amid multiple headwinds")
Global fund managers 'super bearish'; cash allocation at 20-year high: BofA
Global growth expectations, the survey findings suggest, were near all-time lows with a net 72 per cent respondents expecting a weaker economy in 2023
 "Global fund managers 'super bearish'; cash allocation at 20-year high: BofA")
Investors' wealth dips Rs 76,196 cr amid sell-off in stock markets
The market capitalisation of BSE-listed companies tumbled Rs 76,196.54 crore to Rs 2,85,94,997.40 crore amid the 30-share Sensex falling 224.11 points or 0.37 per cent to 60,346.97 points
 "Investors' wealth dips Rs 76,196 cr amid sell-off in stock markets")
Shares of PVR, INOX Leisure defy broader market trend; settle with gains
The watchdog's order on Tuesday came on a complaint filed against the proposed merger that would create the country's largest multiplex chain with a network of more than 1,500 screens
 "Shares of PVR, INOX Leisure defy broader market trend; settle with gains")
Index inclusion may fuel only short term gains in Indian rupee, bonds: DBS
Meanwhile, elevated supply of bonds in the second half of this financial year will bring focus back to incremental demand, resulting in a gradual rise of yields, the house said
 "Index inclusion may fuel only short term gains in Indian rupee, bonds: DBS")
Goldman cuts Infosys, TCS to 'sell' on looming slowdown, upgrades Wipro
Goldman said it remains 'more sanguine' on EBIT margin forecasts than on revenue of IT firms, given multiple levers such as higher employee utilisation, controls on variable pay and annual wage hikes
 "Goldman cuts Infosys, TCS to 'sell' on looming slowdown, upgrades Wipro")