Neutral stance by RBI allays fears of further tightening; experts say move warranted to stem outflows by foreign investors
The Sensex rose 262 points, or 0.8 per cent, to 34,925, while the Nifty 50 index rose 91 points, or 0.9 per cent to 10,605.
Barring BSE Consumer Durables, all other sectoral indices ended in the red
The broader Nifty ended 0.21% lower at 10,526.20, snapping its longest winning streak since late Jan 2015; HDFC Bank ended 0.8% lower, while Axis Bank ended 2.6% lower
On similar lines, the NSE Nifty gathered 20.35 points, or 0.19 per cent, to close at 10,548.70, after moving in the range of 10,560.45 and 10,495.65
The 30-share BSE Sensex rose 91.52 points to end at 34,192.65, while the broader NSE Nifty gained 22 points to 10,480.60
Showstopper BSE IT index gained 3.2 per cent on Thursday, the most since January 16
Monday's rally comes as a relief for the Indian markets, which faced heavy selling pressure since February
The BSE 30-share gauge hit a high of 33,354.93, before closing at 33,136.18, up 139.42 points
Benchmark indices gain 1.8%, most in 20 months
Over the last week, the flagship Sensex recorded a fall of 739.80 points or 2.17%
Saurabh Mukherjea, chief executive officer, Ambit Capital tells Puneet Wadhwa that he expects double-digit corporate earnings growth in FY19
The prediction for 2018 is thus high volatility in prices, a shift to large-cap stocks by all investors seeking safety, and a Sensex range of 30,000-40,000, depending on news flows.
Volatility in global markets roils Dalal Street
Nifty could fall to 9,500 levels say market punditsDespite the three per cent sell-off in the frontline Indian benchmarks on Tuesday, the S&P BSE Sensex and the Nifty50, market pundits expect more downside for domestic equities in the days to come. Since the market rout has been triggered by global factors, mainly rising bond yields in the US, they expect the bearish tone to continue for a few more sessions before the Indian markets stabilise. In a worst-case scenario, the Nifty50 can slip to 9,500 levels, they say."If there is one fundamental catalyst for the sell-off, it is the rise in bond yields. Until Friday, the S&P had gone without a three per cent decline from its peak for 310 days, its longest streak since 1980. That has now been broken. We believe the correction might continue for around three weeks," said Hong Kong - based Mark Matthews, head of research for Asia at Julius Baer Group.Since the presentation of the Budget on February 01, the S&P BSE Sensex has ...
Sensex drops below 35,000 after 1,150-point steepest two-day sell-off since November 2016
Sensex / Nifty could at best rise 5% to 10% in the whole of 2018
While the frontline indices have done well, the broader market saw losses in January
India among few countries, which does not tax long-term gains on equities and the stock gains also get a preferential treatment
Sharp rally in banking stocks saw the benchmark Sensex top the 35,000-mark for the first time, while the 50-share Nifty inch towards 10,800 on Wednesday. Benchmark indices gained closed to a per cent as investor sentiment got a boost amid cooling of bond yields after the government announced a cut in additional market borrowing for the current fiscal year.The BSE Sensex gained 0.89 per cent, or 311 points, to 35,081.82, while Nifty ended 0.82 per cent, or 88 points higher at 10,788.55. Axis Bank gained 4.7 per cent, most among Sensex components, followed by State Bank of India (SBI), which gained 3.4 per cent and ICICI Bank which rose 2.7 per cent after the yield on the 10-year government security softened by 12 basis points to 7.26 per cent. A day earlier, banking and financial shares had tumbled after the 10-year bond yield had jumped 11 basis points. "The market momentum continues to remain strong due to optimism by both domestic and foreign investors," said Motilal Oswal, ...