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Sensex falls below 65K mark
Nifty is down 3 per cent from the July peak of 19979, moving in sympathy with the global cues, says V.K. Vijayakumar, the Chief Investment Strategist at Geojit Financial Services.
BSE seeks clarification on spurt in volume from Garden Reach Shipbuilders
The company in its reply to BSE said: “We would like to submit that the Company is regularly intimating all the events, information etc. that have a bearing on the operation/performance of the company which include all price sensitive information, etc. to the Stock Exchanges, as per Regulation 30 of the SEBI (LODR) Regulations, 2015.
Indian markets face strong headwinds
Global headwinds are from the rising dollar index at 103.23 and spiking U.S. bond yields, he said. Consequently, FIIs are selling, taking their cash market sell figure in August, till 15th, to Rs 9,867 crore. Domestically, the major headwind is the rising inflation, V.K. Vijayakumar said.
Sharp dip in US 10-yr bond yield can once again favour renewed FPI buying
Cues from the US market are favourable; particularly the sharp 14bp dip in the US 10-year bond yield last Friday can once again favour renewed FPI buying, he added. Latest data from the US indicate a slight cooling of the economy but the labour market continues to be strong. Markets will be keenly watching the July CPI print for clues on the Fed decision in August.
Sensex now down more than 500 points
Titan led the Sensex losses down more than 2 per cent. Morgan Stanley has upgraded India to overweight. India rises from number 6 to number 1 in our process, with relative valuations less extreme than in October, while MS macro, strategist and bottom-up analyst scores reflect MS' Blue Paper thesis on India's Decade.
Sensex slumps over 600 points to fall below 66k mark
Sensex was trading down 628 points at 65,830 points. Twenty-seven stocks out of Sensex 30 were in the red, with NTPC and Tata Steel down more than 2 per cent. V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. said the major news after market close yesterday is the rating agency Fitch’s downgrade of US sovereign rating from AAA to AA+.
Markets to remain volatile with new high looking difficult currently
At the end of the week, BSESENSEX lost 524.06 points or 0.79 per cent to close at 66,160.20 points while NIFTY lost 98.95 points or 0.50 per cent to close at 19,646.05 points. The broader markets saw BSE100, BSE200 and BSE500 lose 0.15 per cent, gain 0.14 per cent and 0.29 per cent respectively. BSEMIDCAP was up 2.07 per cent while BSESMALLCAP was up 1.18 per cent.
Sensex plunges below 66k mark
The headwinds for the markets come from the US 10-year yield rising sharply to 4 per cent, the dollar index rising to 101.7, Brent crude rising above $83 and FPIs selling stocks for Rs 3979 crores in the cash market on Thursday, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sensex moving towards 67K milestone
On the other hand, Titan and Tata Motors are down by more than 1 per cent. Since the market has run up too much, too fast, a correction can happen at any time, says V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services. Some profit booking at the present level can be considered, he added.
Corporate earnings to determine market direction for coming week
The initial weakness in the domestic market was driven by anticipated soft earnings in the IT sector and negative cues from the US markets.
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