Market turns positive after 8 days of sell-off: Sensex, Nifty rise by 1%; SBI, Axis Bank top gainers
Optimism in domestic equities came after better-than-expected manufacturing PMI data which offset the shocks of lower-than-estimated Q3 GDP numbers. Also, global peers held a good rally driven by strong Chinese manufacturing data. Key Points
mintFogs clear in Indian equities after 8 days selloff: Sensex, Nifty rise by 1%; SBI, Axis Bank top gainers
Optimism in domestic equities came after better-than-expected manufacturing PMI data which offset the shocks of lower-than-estimated Q3 GDP numbers. Also, global peers held a good rally driven by strong Chinese manufacturing data. Key Points
mintVolatility in market is different from volatile business: 5 large cap stocks with upside potential ranging
There cannot be any doubt about volatility on the street, both as reflected by advance decline ratio or the kind of movement we see in nifty and other sectoral indices, one day down another day up to third day to fall again. Amid the current market downturn, the key question arises: will this correction phase usher stocks from a state of overvaluation to being reasonably priced? Investors aiming to inject more funds into the market during this realignment should consider focusing on specific stocks that exhibit dual advantages. Firstly, identify stocks from sectors exhibiting robust performance, benefiting from sectoral growth. This means that their business is not volatile. Second, essential financial metrics such as Return on Equity (ROE), Return on Capital Employed (ROCE), and company debt levels should not be overlooked. Combining the two the sectoral tailwinds and individual companies fundamentals is a necessity in times of market correction. Key Points
Economic TimesGlobal trade fairs on cards; sectoral targets for $1 trillion exports by ’30
Officials said investment promotion arm Invest India, which is also drawing up the countrys trade strategy, has identified 100-odd companies across 30 sectors and 30 countries, and around a 100 more being shortlisted as part of the Strategic Investment Targets Initiative. Besides, sectoral targets have been set for $1 trillion goods exports by 2030. Key Points
Economic TimesSensex, Nifty down amid weak global cues; Metal stocks gain
Nifty Metal was the top sectoral gainer, rising over 1.5 per cent, followed by Nifty Healthcare and Nifty Media. Most other sectoral indices were trading barely in positive territory, while bank, FMCG, IT, financials and auto indices fell. Key Points
India Today
Aditya Agarwala on 4 top recently launched thematic NFOs one can consider
“Just a word of caution before we talk about the top sectoral or thematic funds. You should only invest in these thematic and sectoral funds if you understand the sectors and the cycle of the businesses that you are investing in because these funds take exposure in specific sectors and stocks which participate during the economic turnarounds of an upturn and a downturn.” Key Points
Economic TimesIn this kind of a market, it is always prudent to keep some amount of cash: Harsha Upadhyaya
“If you speak in terms of sectoral or sub-segment related valuation risks, probably defence, railways, all these areas have seen significant re-rating in recent times. Definitely from a medium to long-term perspective, there is a lot of growth and a lot of money to be made but one cannot extrapolate the kind of moves that we have seen in the past six or nine months.” Key Points
Economic TimesBears Growl! Sensex tanks 600 points, gives up 64,000; Nifty tests 19,100
Among Sensex stocks, NTPC was the worst performer, followed by Infosys, Bharti Airtel and ITC. On the other hand, Tata Steel, Nestle India, SBI and Asian Paints were the only gainers. All sectoral indices traded in the green, with Nifty Metal craking the most, down over 2%. Realty index also tanked over 1.5% in the afternoon session. Key Points
Economic TimesNifty, Sensex hit new record highs as strong US data lifts mood
India Business News: All the 13 major sectoral indexes logged gains, with high-weightage financials rising 0.74%. India's blue-chip Nifty 50 and Sensex indexes rallied to Key Points
Times Of IndiaDouble-digit gains for 3 years! Will Sensex repeat the show in H2 CY23?
In the last five years, the Sensex has given positive returns to investors in the second half of the calendar year with double-digit returns in the last three years, making it an attractive investment destination. Additionally, all sectoral indices have given positive returns in the second half in the past three years, with 10 of the 15 sectoral indices on BSE giving double-digit returns in H2 of 2022, including the banking, commodities, and financial services sectors. On the macroeconomic front, foreign inflows are expected to continue despite risks from a weak monsoon and global risks impacting FII flows. Key Points
Economic Times
Gautam Adani stocks lift sensex, Nifty amid caution on US debt ceiling talks
India Business News: Indian shares rose on Tuesday as Adani group stocks surged, and most sectoral indexes advanced, with metals jumping by 2.59%. The top gainer was Adani Key Points
Times Of IndiaFag-end buying drives Sensex 179 points higher; Nifty above 18,300; TV18 surges 8%, Varun Beverages 7%
Domestic benchmark indices erased opening gains to trade lower ahead of key US inflation data and earnings from index majors L&T and Dr Reddy's Labs. In the sectoral space, barring Nifty FMCG and Nifty Media, all indices were trading with cuts. Nifty Key Points
Times Of IndiaSensex, Nifty end lower as IT stocks fall; Infosys down 10%
The S&P BSE Sensex fell 520.25 points to 59,910.75, while the NSE Nifty 50 settled 121.15 points lower at 17,706.85. Key Points
India TodaySensex, Nifty open higher as hopes of SVB acquisition boosts sentiments
The Nifty 50 index was up 0.45% at 17,020.64 as of 9:53 a.m. IST. The S&P BSE Sensex rose 0.41% to 57,772.59. The broader Asian equity indexes were subdued. Key Points
India Today