National Stock Exchange
Real estate stocks shine on strong sales momentum
BSE Realty Index was up 4.57 per cent in trade on Tuesday and Prestige Estates led the sector with a gain of 12 per cent.
Energy sector stocks outperform all others in September
According to Motilal Oswal Asset Management Company (MOAMC)’s Global Market Snapshot report, Nifty mid-cap 150 outperformed all major indexes in September by rising 3.04 per cent.
Facing fines, PSUs tell stock exchanges power to appoint directors vests with govt
"It is stated that ONGC, being a government company, power of appointment of Director (including Independent Director) is vested with the Government of India (GoI) as per the Articles of Association of the Company," ONGC said in a reply to stock exchanges.
Focus of market will shift from micros to macros
US CPI print expected soon and the MPC decision on 10th might give indication of the likely market trend. The MPC is likely to hold the rates and retain the stance but the tone is likely to be hawkish since inflation is high and expected to rise in July, V.K. Vijayakumar said.
Liquidity surge can keep valuations elevated for an extended period
Investors should remember the fact that from the short term perspective valuations are stretched, V.K. Vijayakumar, Chief Investment Strategist at Geojit Financial Services said.
Markets appear capped due to elevated valuation of Indian equities, increasing Fed rate estimate
On elevated valuation, the report said Indian equities are trading at 20.2x 1-year forward P/E multiple (as against a long-term average of 18.4x) helped by strong FPI equity flows (highest among select EMs for fourth month in a row), resilient mutual fund SIP flow, benign crude oil prices, sharp pick-up in monsoon, resilient domestic macro and 13 per cent corporate operating earnings growth in Q1FY24 likely with minimal earnings downgrade.
Over the last decade, market capitalisation of Indian companies has risen 11% CAGR to $3.5 tn
Retail and HNI participation is now 69 per cent of NSE's cash market turnover as compared to 58 per cent in FY16. The total market cap of companies in India stands at $ 3.5tn (as on June 30, 2023), with indicators such as Mcap / GDP ratio (India at 93 per cent vs 183 per cent of US) and turnover to Mcap (India at 50 per cent vs US at 148 per cent) pointing towards a long growth runway.
Indian stocks hold on to all-time highs when market breadth is healthy
A strong advance-decline market breadth where the number of advancing stocks significantly outweighs the declining stocks is a positive signal for the market, the report said. It suggested broad participation and indicated a healthy market trend. Market Guru Bob Farell has said: “Markets are strongest when they are broad and weakest when they narrow to a handful of blue-chip names.”
Indian markets scaled new peaks on Tuesday
The Sensex of BSE touched a high of 65,672.97 points and Nifty of NSE 19,434.15 points. The Sensex opened at 65,503.85 points and raced up to reach a 52 week high of 65,672.97. On Monday, the Sensex had closed at 65.205.05. points. At the NSE, the Nifty opened at 19,406.60 and flared up to a 52 week high of 19,434.15 points.
Buying in heavyweight stocks pushes Indian markets to all-time high
The market's bullish momentum was further supported by strong FII inflows and a narrowing current account deficit, both of which positively impacted investor sentiments. The gains were widespread, with pharma and metal sectors leading the way as top performers, outshining others, Nair said.
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