Page 108 - Stock Market

China steps up efforts to stabilise stock markets as confidence slumps

The Hang Seng Index is down more than 8 per cent this year, ranking among the biggest global losers

Wall Street, yields take a breather as investors await more from US Fed

The MSCI world equity index, which tracks shares in 45 nations, was last down 0.24%

Markets decline on weak global trends, fresh foreign fund outflows

Equity benchmark indices fell in early trade on Friday amid bearish global cues and fresh foreign fund outflows. Markets also declined as IT stocks slipped. The 30-share BSE Sensex was down 297.62 points to 64,853.40. The NSE Nifty dipped 88.75 points to 19,276.50. From the Sensex pack, Tata Consultancy Services, Wipro, HCL Technologies, Infosys, Tech Mahindra, Nestle, Bajaj Finance and Bajaj Finserv were the major laggards. Larsen & Toubro, Axis Bank, Hindustan Unilever, Maruti, ICICI Bank and ITC were among the gainers. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong were trading in the negative territory. The US markets ended lower on Thursday. Global oil benchmark Brent crude climbed 0.13 per cent to USD 84.23 a barrel. Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,510.86 crore on Thursday after a day's breather, according to exchange data The BSE benchmark had declined 388.40 points or 0.59 per cent to settle at 65,151.02 on Thursday. The Nif

Bata India rallies 6% on report company in talks to tie-up with Adidas

The footwear company is in talks with German sportswear giant Adidas for a strategic partnership for the Indian market, a report said

Sensex falls 388 pts, Nifty holds 19,350 amid weak global cues; PSBs outrun

Closing Bell on August 17, 2023: On the upside, only the Nifty PSU Bank index (up 1.5 per cent) outperformed the markets

Fairfax sells 5.9% stake in IIFL Securities for Rs 118 cr via open market

Canadian billionaire Prem Watsa-backed Fairfax Group on Wednesday pared a 5.9 per cent stake in brokerage firm IIFL Securities for Rs 118 crore through open market transactions. Hamblin Watsa Investment Counsel Ltd (HWIC) Asia Fund, an affiliate of Fairfax Financial Holdings, offloaded shares of IIFL Securities in two transactions on NSE and BSE. Hamblin Watsa Investment Counsel Ltd A/C HWIC Asia Fund Class A Shares offloaded 1.20 crore shares on NSE and 60 lakh shares on BSE, amounting to a 5.9 per cent stake in IIFL Securities, as per the block and bulk deal data available with the NSE and BSE. The shares were disposed of in the price range of Rs 65.45-65.67 apiece, taking the combined transaction value to Rs 117.94 crore. Post the transaction, Fairfax's shareholding in IIFL Securities declined to 3.38 per cent from 9.28 per cent at the end of June quarter. Meanwhile, Theleme India Master Fund Ltd acquired 80 lakh shares, Zafar Ahmadullah bought 40 lakh shares on the NSE, while

Defence stocks pricing in all positives and offer limited upside: Analysts

However, the rally, which has been accompanied by high valuations, could stagnate in near term as companies may not meet investors' expectations of sustained performance every quarter, analysts say

Adani Power has shares worth $1 bn change hands in attempt to recover

The company's stock fell as much as 4.1% after the bunched trades to Rs 274.4 ($3.30) and based on the average price, the deals are worth $1 billion, according to Bloomberg calculations

Markets extend gains on fag-end buying; Infosys, L&T shine amid mixed trend

Benchmark equity indices Sensex and Nifty pared early losses to close higher on Wednesday, helped by fag-end buying in index majors Infosys, L&T and M&M amid a mixed trend in global markets. The 30-share BSE Sensex climbed 137.50 points or 0.21 per cent to settle at 65,539.42. During the day, it fell by 369.03 points or 0.56 per cent to 65,032.89. The NSE Nifty gained 30.45 points or 0.16 per cent to end at 19,465. UltraTech Cement was the biggest gainer in the Sensex pack, rising 2.43 per cent, followed by NTPC, Tata Motors, Infosys, Power Grid, Mahindra & Mahindra, Larsen & Toubro, Maruti, Wipro and SBI were the major gainers. In contrast, Tata Steel, Bharti Airtel, Bajaj Finserv, Axis Bank, Bajaj Finance and JSW Steel were the major laggards. In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong ended in the negative territory. European markets were trading mostly in the green. The US markets ended lower on Tuesday. Global oil benchmark Brent crude climbed 0.01 per

Uno Minda at 52-wk high; soars 7% on commissioning EV component plants

The company has also received new orders with annualised peak value of more than Rs 600 crore for EV systems. during the Q1FY24

TVS Supply Chain IPO subscribed 2.8 times on last day of subscription

The company had earlier raised Rs 396 crore from 18 anchor investors

Sebi proposes alternate mechanism to delist shares from stock exchanges

In addition, SEBI suggested a framework for companies that have shares held by investment-holding companies

Inflation, FII data to drive Market in holiday-shortened week: Analysts

Inflation data, global trends and foreign fund trading activity would guide equity market movement in a holiday-shortened week, analysts said. Stock markets would remain closed on Tuesday for Independence Day. "Macroeconomic indicators, rupee and FII activities will be pivotal in shaping market trends in the coming days. Domestically, inflation figures hold significance. Globally, attention will be directed toward Japan's inflation data, China's IIP numbers, and the US retail sales statistics," said Santosh Meena, Head of Research, Swastika Investmart Ltd. On the macroeconomic front, wholesale and retail inflation numbers for July would be announced on Monday. "India's WPI and CPI inflation data, exports and imports numbers will be in focus in the coming days. We expect the Indian market will continue to remain rangebound and will take further cues from US jobs data and minutes of the Federal Open Market Committee (FOMC) meeting," Arvinder Singh Nanda, Senior Vice President, Master

Mcap of 7 of top 10 firms falls by Rs 74,603 cr, HDFC Bank biggest laggard

The combined market valuation of seven of the top 10 valued firms declined by Rs 74,603.06 crore last week, with HDFC Bank emerging as the biggest laggard. The BSE benchmark declined 398.6 points or 0.60 per cent last week. ICICI Bank, Hindustan Unilever, Infosys and ITC saw erosion in their market valuation while Reliance Industries, Tata Consultancy Services (TCS) and State Bank of India added to their market valuation. The valuation of HDFC Bank declined by Rs 25,011 crore to Rs 12,22,392.26 crore. ICICI Bank's market valuation eroded by Rs 12,781 crore to Rs 6,66,512.90 crore and that of Bharti Airtel fell by Rs 11,096.48 crore to Rs 4,86,812.08 crore. The valuation of Hindustan Unilever tanked Rs 10,396.94 crore to Rs 5,87,902.98 crore and that of ITC skidded by Rs 7,726.3 crore to Rs 5,59,159.71 crore. The market capitalisation (mcap) of Bajaj Finance declined by Rs 4,935.21 crore to Rs 4,27,996.97 crore and that of Infosys dipped Rs 2,656.13 crore to Rs 5,69,406.39 ...

Helios Capital gets Sebi's approval to launch mutual fund business

Helios Capital has received capital markets regulator Sebi's approval to launch a mutual fund business, Samir Arora, the main founder of the company announced. Helios Capital Management PTE Ltd, which is the business of portfolio management services, applied for a mutual fund licence with the Securities and Exchange Board of India (Sebi) in February 2021. "I am very happy to announce that Sebi has granted approval to Helios Mutual Fund...We need your wishes and support to make this new venture a success," Arora, who is also the fund manager at Helios Capital, wrote at X platform, formerly known as Twitter, on Thursday. After quitting Alliance Capital 20 years ago, Arora is re-entering the 43-player mutual fund industry. He was the Chief Investment Officer of Alliance Capital's Indian mutual fund business. In September 2022, Helios Capital received Sebi's in-principle approval to float the mutual fund business. Zerodha Broking Ltd and Old Bridge Capital Management Pvt Ltd are the

Alkem Labs sinks 9% in 2 days; FY24 India sales to miss double-digit growth

Alkem Labs reduced its India business revenue growth forecast to "high single-digit" from low double digits for FY24; BofA sees a downside of 15% to Rs 3,500 for the stock

PSU Bank index up 2% in weak market; IOB, UCO, Central Bank rally upto 15%

The Nifty PSU Bank index hit an intra-day high of 4,516.75, trading close to its record high level of 4,647.95 touched on July 27

Disa India zooms 20%, hits new high as profit more than doubles in Q1FY24

The company's revenue from operations grew 41 per cent to Rs 90.69 crore from Rs 64.19 crore in the corresponding quarter of previous year. EBITDA margin improved to 20.4 per cent from 14.0 per cent

MFSL up 12%; hits 52-wk high on Axis Bank buying balance stake in Max Life

Axis Bank said in a filing on Wednesday that it will raise its 9.99 per cent stake in Max Life to 16.22 per cent by infusing Rs 1,612 crores in the entity

Growth vs Value Investing - By Sidhavelayutham, Founder & CEO, Alice Blue

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