stock talk

At the start of the day's trade, the two indices opened almost flat but rose in the initial minutes to make intra-day high. However, they fell soon after and made an intraday low post noon. Globally, Asian stock markets were mostly subdued following the broadly negative cues. On the domestic front, volumes on the NSE are below recent averages. Amongst sectors Metals led the gainers while Realty, Banks and Auto indices fell the most.

Sensex settled at 58,862 points, up 1.5 per cent, whereas Nifty settled at 17,576 points, up 1.4 per cent. To sustain high growth rate, the Centre has earmarked a massive budgetary outlay of Rs 7.50 lakh crore for FY23. In her Budget speech to the Lok Sabha on Tuesday, Finance Minister Nirmala Sitharaman proposed to increase the capital budget outlay by over 35 per cent year-on-year.

The allegations were raised by the independent directors against its financial lending unit -- PTC India Financial Services. PTC India Financial Services, a subsidiary of PTC India, is registered with the RBI as a non-banking financial company (NBFC). On Monday, PTC India settled 5.3 per cent down at Rs 89.40, whereas PTC India Financial Services fell 9.1 per cent to Rs 18.10.

Momentum is building against companies with exciting promises to reshape the world, as investors turn to "value" alternatives such as oil and banking, the report said. The tech sector now faces a crunch fortnight as its biggest names report results, including Microsoft on Tuesday, Tesla on Wednesday, and Apple on Thursday.

Biosimilars grew by 28 per cent to Rs 981 crore, Research Services was up 10 per cent at Rs 641 crore and Generics delivered a 7 per cent growth at Rs 607 crore. Biocon, a global biopharmaceuticals company, announced its consolidated financial results for the third quarter ended December 31, 2021, on Thursday night.

Sadly, this doesn't seem to be happening, for the old adage of a ‘rising tide lifting all boats' seems to be the underlying credo for this unidirectional rise. This is where SEBI needs to be in action mode in order to sift the wheat from the chaff. This process of winnowing is crucial to curtail the needless froth driven to the top by operators and punters, who are clearly in some cases working in collusion with some of these companies.

The Dow Jones Industrial Average fell 59.78 points, or 0.16 per cent, to 36,338.30. The S&P 500 was down 12.55 points, or 0.26 per cent, to 4,766.18. The Nasdaq Composite Index dropped 96.59 points, or 0.61 per cent, to 15,644.97. Six of the 11 primary S&P 500 sectors ended in green, with consumer staples up 0.71 per cent, outpacing the rest. Communication services slipped 1.21 per cent, the worst-performing group

Factors such as growth potential, price as well as evolving economic recovery have made these sectors more attractive than others. "Given the uncertainties, one can focus more on defensives (FMCG, pharma, IT services) till there is more clarity on economic growth and inflation across the globe. This is despite the fact that defensives may not be cheap," said Deepak Jasani, Head of Retail Research, HDFC Securities.

Aditya Birla Capital is the holding company of all the financial services businesses of the Aditya Birla group. "It continues its credible makeover journey to drive consolidated return ratios closer to franchise potential over the next three years," the brokerage said. However, stiff competition from peers and new entrants and worsening of asset quality in the lending book due to the potential third wave of the Covid pandemic.

Addressing economists and academics in Turkey's financial hub Istanbul, Erdogan said the government would track down the companies and sellers, "including those in the second-hand automotive and housing sectors", who do not lower their prices, reports Xinhua news agency.