Says any easing in global crude, FPI outflow reversal and bottoming of rupee will be positive for market. Key downside risks include higher global inflation and faster rate hikes
CLOSING BELL: Shares of Life Insurance Corporation of India (LIC) listed at Rs 867.20 on the BSE, a 8.6 per cent discount when compared with its issue price of Rs 949 per share
The challenge for the companies is how to make the banks finance the projects
This is only the second trading session in May when markets have been able to clock gains
NTPC, Bajaj Finance, Maruti Suzuki, SBI, HDFC, Kotak Bank, M&M, and IndusInd Bank were the top gainers on the Sensex index
CLOSING BELL: SBI was the biggest laggard on the index, down nearly 5 per cent, as the lender's Q4 missed Street's estimates
Of the 12 that have risen, only one has provided double-digit gains
Volatility will remain because of tightening liquidity, uncertainty on earnings growth, say market experts
In a Q&A, Prateek Agrawal, who is also the firm's CIO, says given the strength in overall earnings as seen in FY24 EPS outlook, the direction of the market is likely to be positive
CLOSING BELL :: The S&P BSE Sensex opened gap-down and sunk 1,386 points intra-day to hit a low of 52,702 levels
From this year's peak in January, both indices are down nearly 12 per cent
In the primary market, Venus Pipes & Tubes IPO was subscribed 2 times on Day 1 of the offer period; Delhivery IPO was off to a slow start.
The BSE Midcap and Smallcap indices ended with heavy losses of over 2 per cent each. Debutant Rainbow Children's Medicare ended a steep discount of 17 per cent to its issue price.
The broader markets ended with deeper losses, with both the BSE Midcap and Smallcap indices down over 1.5 per cent each; the breadth too at 2:1 was in favour of the bears.
The Midcap and Smallcap indices declined over 2 per cent each; The breadth too favoured the bears in 3:1 ratio.
Record-high inflation levels, dented prospects of corporate profitability and likelihood of contraction in economic growth continue to batter equities.
CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times
Meanwhile, the mega LIC IPO was off to a steady start, with policyholder and employee segment receiving strong response on Day 1 of the offer period.
CLOSING BELL: IndusInd Bank, NTPC, Tata Steel, HDFC, PowerGrid, and ITC were the major gainers
Rising inflation has forced central banks, including the US Fed, to hike rates to tame inflation.