Page 5 - Budget And Markets

Markets fall 10% from record highs on FII outflows, weak earnings

Benchmark indices Sensex and Nifty after smashing many record peaks this year, slipped into a correction mode, with the NSE key gauge falling over 10 per cent from its record high hit in September amid concerns of foreign investors fleeing the domestic market, weak Q2 earnings and stretched valuations. The BSE benchmark Sensex hit its record peak of 85,978.25 on September 27 this year, and the NSE Nifty also reached a lifetime high of 26,277.35 on the same day. However, markets came under bear attack from October onwards. The BSE benchmark gauge is down a massive 8,397.94 points or 9.76 per cent from its all-time high, and the Nifty has also lost 2,744.65 points or 10.44 per cent from the record. "Elevated valuations had already raised concerns, but a stimulus package in China prompted a significant shift in Foreign Institutional Investor (FII) flows from India to China. This exodus was further fuelled by weak Q2 earnings, while a rise in US bond yields and the dollar index added ..

Mcap of 6 of top-10 most-valued firms erodes Rs 1.55 trn; RIL top laggard

The combined market valuation of six of the top-10 most-valued firms eroded Rs 1,55,721.12 crore last week, with Reliance Industries emerging as the biggest laggard, in line with an overall weak trend in equities. Last week, the BSE benchmark declined 237.8 points, or 0.29 per cent. While Reliance Industries, Bharti Airtel, ICICI Bank, ITC, Hindustan Unilever and Life Insurance Corporation of India (LIC) suffered erosion in their market valuation, Tata Consultancy Services (TCS), HDFC Bank, Infosys, and the State Bank of India were the gainers. The valuation of Reliance Industries fell Rs 74,563.37 crore to Rs 17,37,556.68 crore. Bharti Airtel's valuation dropped Rs 26,274.75 crore to Rs 8,94,024.60 crore. The market valuation of ICICI Bank slumped Rs 22,254.79 crore to Rs 8,88,432.06 crore and that of ITC tanked Rs 15,449.47 crore to Rs 5,98,213.49 crore. LIC's market capitalisation (mcap) declined Rs 9,930.25 crore to Rs 5,78,579.16 crore and that of Hindustan Unilever went low

Indian bond yields seen steady ahead of govt's $3 bn debt buyback

India is one of the largest oil importers and easing prices of crude could reduce inflationary pressures. The retail inflation accelerated to a nine-month high of 5.49 per cent in September

RPP Infra up 5% as it bags Rs 217-cr road improvement work order in Jalgaon

RPP Infra's road improvement project in Jalgaon, Maharashtra, has to be completed within two years. With this order, the company's order book stands at Rs 3,523.24 crore as of October 15, 2024

Indian markets gave better returns than China in last 5 years: Sebi member

Sebi Whole-time Member Ananth Narayan G on Monday reminded investors that Indian equities have consistently delivered 15 per cent returns over the last 5 years whereas the same has been zero or even negative in China. Terming the Indian markets "sone pe suhaga" for delivering higher returns for lower risks, Narayan also flagged a few areas of caution for investors and asked them to be conscious of the risks. "There's a lot of talk about China markets over the last few days. But over the last five years, while Indian markets have given around 15 per cent compound annual growth rate consistently, Chinese markets are nowhere close to that. It's almost zero. In fact, in some cases, like in Hong Kong, it's actually negative," Narayan said. Speaking at an event marking the start of the Investor Awareness Week at NSE, Narayan said FY24 was a "remarkable" year for India, with the benchmark indices returning 28 per cent and the volatility just 10 per cent. "That's like 'sone pe suhaga'. It'

More regulation needed to curb retail speculation in F&O: Amisha Vora

Sebi's proposed changes will significantly impact discount brokers, whose business relies heavily on retail F&O trades, Vora said in this interview

Raamdeo Agrawal on why the Budget couldn't dent retail investors' sentiment

There is a lot of liquidity, shift from bank deposits to financial markets and capital formation is finally happening, said Motilal Oswal's Raamdeo Agrawal at 'Budget with BS: The Fine Print' event

Zydus Life gains over 2% on securing nod from COFERRIS to market Mamitra

The uptick in the stock price came after the pharmaceutical company announced that it has secured an approval from COFEPRIS of Mexico to market Mamitra to treat various cancers.

Capital gains tax changes may impact investment behaviour: Rashesh Shah

Buyback and tax-free dividend had a gap and an equalisation was needed. Volumes in F&O trading had gone up rapidly and, in a way, the increase in STT on F&O will protect investor interest, he said

FIIs cash out from equities post Budget 2024 on capital gains tax tweaks

FIIs net sold stocks worth Rs 10,712 crore in the cash market, and index futures worth Rs 10,336 crore in the derivatives segment in the three trading sessions post Budget 2024.

3 reasons why the Sensex surged nearly 1,300 points on Friday, July 26

For context, the record highs for Sensex and Nifty50 are 81,587.76 and 24,854.80 levels, respectively.

US economic growth seen picking up in 2nd quarter, inflation subsiding

The economy, which continues to outperform its global peers despite hefty rate hikes from the Fed in 2022 and 2023, remains supported by a resilient labor market even as the unemployment rate has rise

PG Electroplast surges 16% on strong Q1 results; zooms 194% in 4 months

Management sees increased opportunities in the existing and new clients based on the current business environment.

Brokerages on board with Budget but for capital gains tax curveball

As markets sift the Budget's fine print, they'll also monitor Q1 earnings, monsoon trends, and global factors

Budget 2024 is growth oriented, addresses right sectors: Vikas Khemani

Union Budget 2024 analysis: The government has laid out a clear vision for 'Viksit Bharat' by addressing key areas - agricultural reforms, manufacturing push and employment generation among others

Union Budget 2024-25: Propelling India's evolution into 'Viksit Bharat'

With the objective of ease of doing business and in line with recent Goods and Services Tax (GST) council recommendations, various proposals have been introduced under GST

Union Budget 2024: Beginning of remarkable direct tax reforms by Modi 3.0

Income tax changes in Budget 2024: On the personal income-tax front, the tax slab rates have been rationalised only under the new tax regime

Budget 2024 took away property indexation: Gainers, losers, tax calculation

Mumbai and the National Capital Region (NCR) are likely to be hit the most by Budget 2024 property indexation benefit loss, said analysts at CLSA in a note

Zerodha to collect Rs 2,500 cr from STT hike in Budget 2024: Nithin Kamath

STT on derivatives hike in Budget 2024: While unveiling the Budget 2024 proposals, the first budget in the Modi 3.0 regime, FM Nirmala Sitharaman announced a slew of changes relating to stock markets

A balanced Budget 2024-25 should be a big relief for markets: Manish Jain

India Budget 2024-25 News Highlights: By raising LTCG tax to 12.5 per cent and STCG tax to 20 per cent, the overhang for stock markets gets removed