Nifty
High likelihood of correction in equity markets over next few months
To a query whether the uptrend in the Indian stock markets would continue or come to an end, Suman Chowdhury, Chief Economist and Head --Research told IANS: “The Nifty (NSE 50 index) has yielded a return of 77.4 per cent over the last three years and even if one excludes the impact of the recovery from the pandemic, the one year return on Nifty is at 14.5 per cent.”
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.
Buying in heavyweights boosts Nifty
The index closed with gains of 93 points at 19774 levels. Broader markets too followed suit and witnessed buying interest. All sectors ended in the green, except for consumer durables. FMCG, PSU bank, realty, and oil and gas were top gainers, he said.
Corporate earnings season starts on weak note
The miss in terms of operating earnings was largely driven by IT services, cement, and FMCG. Overall, the domestic demand momentum continues in banks, cement, and real estate; while FMCG was a laggard. Broadly, we continue to believe that the market appears to be capped in the near term given elevated valuation amidst slower growth in advanced economies in the near term, the report said.
Nifty falls at fastest pace in 18 weeks
It fell at the fastest pace in about 18 weeks to close at 19,745 levels, down 1.17 per cent or 234.2 points from its previous close. Volumes on the NSE continued to be higher than normal. Broad market indices did better than the Nifty with the small-cap index ending 0.13 per cent in the positive even as the advance-decline ratio came in lower at 0.82:1.
Nifty likely to cross 20K-mark on Friday
All sectors ended in the green, except IT and consumer durables. BFSI, FMCG and pharma were the top gainers, up 1 pert cent each. On the backdrop of consistent FIIs buying (Rs 16,300 crore month till date), sound macros and micros, and surplus monsoon so far, Nifty has rallied by 15 pert cent since April 1, and 4 pert cent month till date, Khemka said.
Equities extend record high runs with Nifty breaching 19,800-mark intraday
The index opened higher and traded sideways to close with marginal gains of 38 points at 19,749 levels. The broader market, however, underperformed with the Nifty mid-cap 100 ending flat to negative while Nifty small-cap 100 was down -0.9 per cent. Among sectors, IT was the top gainer up 1 per cent, followed by oil & gas.
Domestic institutions selloff putting brakes on market rally
Another important trend, hugely significant from the market perspective, is the steady decline in the dollar. Dollar index is now below 100, which is the lowest level since April 21, 2022. This declining dollar is favourable for emerging markets and India being the most-favoured emerging market, the FPI flows are likely to sustain, he added.
Bank stocks selloff drags down Nifty from all-time high
Vikram Kasat, head advisory, Prabhudas Lilladher, said Nifty Index made a higher high in Thursday’s session, whereas the BankNifty Index is still significantly below the previous high, leading to inter-market divergence in the short term.
Signs of overheating in small cap stocks
"This is an indication of froth building in this space. Investors should exercise caution chasing small-cap stocks. Liquidity can drive markets higher. So it makes sense to remain invested in this market. But optimism has to be tempered with some caution," V. K. Vijayakumar, added.
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