Page 5 - Equities

Sensex snaps 2-day winning run amid weak global cues; metal stocks weigh

Equity benchmark Sensex declined 123 points on Friday due to selling pressure in metal and energy stocks amid a bearish trend in global equity markets. Rising crude prices and continued selling by foreign investors also weighed on market sentiment, traders said. Snapping its two-day gaining streak, the 30-share BSE Sensex ended 123.52 points or 0.20 per cent lower at 60,682.70. During the session, the index touched a high of 60,774.14 and a low of 60,501.74. The broader NSE Nifty slipped 36.95 points or 0.21 per cent to finish at 17,856.50. HCL Tech was the biggest loser on the Sensex chart, shedding 2.79 per cent, followed by Tata Steel, ICICI Bank, Reliance Industries, ITC, Wipro, Infosys and M&M. In contrast, Tata Motors, L&T, Bharti Airtel, HDFC Bank and SBI were among the winners, climbing up to 2.05 per cent. In the broader market, the BSE midcap gauge rose 0.04 per cent, and the smallcap index gained 0.48 per cent. Elsewhere in Asia, markets in Shanghai and Hong Kong ...

Rupee falls 12 paise to 82.66 against dollar due to muted trend in equities

The rupee depreciated 12 paise to 82.66 against the US dollar in early trade on Thursday, weighed down by sustained foreign fund outflows and a muted trend in domestic equities. Firm crude oil prices and a strong American currency further dented investor sentiments, forex traders said. At the interbank foreign exchange, the domestic unit opened weak at 82.59 against the dollar, then fell to 82.66, registering a decline of 12 paise over its last close. In the previous session on Wednesday, the rupee appreciated 16 paise to close at 82.54 against the US dollar after the Reserve Bank of India (RBI) hiked the repo rate by 25 basis points. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.05 per cent to 103.36. Brent crude futures, the global oil benchmark, declined 0.01 per cent to USD 85.08 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 177.7 points or 0.29 per cent lower at 60,486.09. The br

Clients went overboard on equities in last two years, says Ashish Shanker

Don't get carried away by near-term point-to-point returns as it will often lead to losses, says the Motilal Oswal Private Wealth MD & CEO

Sensex snaps two-day rally amid global weakness, falls 187 points

Weak US consumer data and hawkish comments from the Fed's policymakers hammered investor risk appetite

FPIs withdraw Rs 15,000 crore from equities in 2 weeks of January

Foreign portfolio investors (FPIs) have been adopting a cautious stance towards Indian equity markets for the past few weeks

Private equity major Apax Partners offloads 2.14% in Shriram Finance

Dynasty Acquisition, an affiliate firm of the PE player, sold close to 8 million shares at Rs 1,300 apiece

Market regulator Sebi considers allowing sponsor-less mutual funds

Issues discussion paper proposing radical changes on ownership structures

FPIs begin 2023 in sell-off mode; pull out nearly Rs 5,900 crore

FPIs have been adopting a cautious stance toward Indian equity markets for the past few weeks

Asian stocks in 2022 suffer biggest foreign outflows since 2008 crisis

After four straight 75-basis point hikes earlier in 2022, the US Federal Reserve raised its overnight borrowing rate by another 50 basis points in December

Not yet out of the woods

There are too many moving parts in play, and the market outlook for 2023 hinges on one's view of inflation and a US recession

Debt returns competing with equities: CIOs of MF houses at BFSI Summit

Naren said after a long time the need for money in the deposit market has come and we see hikes in bank deposit rates

Rupee gains 3 paise to close at 82.44 against dollar on positive equities

The rupee consolidated in a narrow range and settled 3 paise higher at 82.44 (provisional) against the US dollar on Thursday, supported by positive domestic equities. At the interbank foreign exchange market, the local unit opened at 82.34 and touched an intra-day high of 82.26 and a low of 82.47 against the greenback. It finally settled at 82.44, registering a rise of 3 paise over its previous close of 82.47. "Rupee consolidated in a narrow range even after the RBI raised rates by another 35 bps. It lowered its FY23 GDP forecast to 6.8 per cent from 7 per cent," said Gaurang Somaiya, Forex & Bullion Analyst, Motilal Oswal Financial Services. "We expect the USD-INR (Spot) to trade sideways and quote in the range of 82.20 and 82.80," he added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.29 per cent to 105.40. Global oil benchmark Brent crude futures rose 0.63 per cent to USD 77.66 per barrel. On the domestic .

Global investors bullish on Indian equities market despite 86% premium: UBS

Swiss brokerage UBS Securities said global investors are bullish on Indian equities market in spite of the 86 per cent premium it commands over emerging market peers and on the back of a 17 per cent outperformance so far this year. "India is one of only three markets to trade at a premium to its own history, (the other two being Thailand and the UAE)" despite it commanding an 86 per cent premium over its emerging markets peers, according to UBS Securities. In spite of the expensive valuations, most equity investors are quite optimistic, both from a cyclical and a structural perspective even though they see the economy losing the steam and printing in a 6.9 per cent growth this fiscal and a much lower 5.5 per cent next fiscal before settling at the long-run average of 6 per cent in FY25, UBS Securities said in a note on Tuesday. On Monday, its Wall Street rival Morgan Stanley said the Sensex would continue to outperform in 2023 with an average 10 per cent rally taking the benchmark .

Gold proves its mettle against Sensex, price rises 2.6% in CY22

Gold's outperformance over equity has been even better in the international market, thanks largely to a big sell-off in equities in advanced economies such as the US and Western Europe

Capital cost may rise as drivers of equities reverse: Report

Three decades have been benign for global equities, but that time is now changing

Sensex ahead of Dow Jones by a wide margin amid rising bond yields

The Indian equity market is, however, a global outlier and remains firmly in the bull phase - both in local currency and in constant currency terms

Rupee rises by 6 paise to 79.86 against US dollar in opening trade

The rupee appreciated 6 paise to 79.86 against the US dollar in opening trade on Friday, driven by foreign fund inflows and a firm trend in domestic equities. At the interbank foreign exchange, the domestic unit opened at 79.87 against the dollar and inched higher to touch 79.86, registering a gain of 6 paise over its previous close. In the previous session, the rupee declined by 6 paise to close at 79.92 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.05 per cent to 108.51. Brent crude futures, the global oil benchmark, advanced 0.83 per cent to USD 100.16 per barrel. Forex traders said, the rupee is expected to witness range-bound trade this Friday, as investors await Federal Reserve Chairman Jerome Powell's speech for further clues about the pace of the US central bank's rate hikes. "Higher oil prices and a weak start in the Asian and emerging market peers could keep appreciating bias capped,

China's decoupling from emerging markets to revive growth may prove a blip

Chinese equities are seen making up lost ground as the extreme pessimism toward its economy recedes and authorities take further steps to revive stuttering growth

Buffett's Berkshire pounces on market slump to buy equities in June qtr

Berkshire stepped in as the S&P 500 shed 16% in the latest quarter. The Omaha, Nebraska-based company also reported an operating profit of $9.2 bn as the insurance and railroad businesses posted gains

Rupee rises 6 paise to close at 79.92 against USD as equities turn positive

At the interbank forex market, the local unit opened lower at 80.00 against the greenback and fell further to an intra-day low of 80.05.