Stock Market Updates

Investors' wealth tumbled over 5.91 lakh crore in morning trade on Monday tracking heavy decline in equities amid intensifying conflict between Russia and Ukraine. Continuing its decline for the fourth day on Monday, the BSE gauge plummeted 1,735.98 points or 3.19 per cent to 52,597.83, tracking weak global equities and elevated crude oil prices. In tandem with the heavy plunge in equities, the market capitalisation of BSE-listed companies plunged by Rs 5,91,094.71 crore to Rs 2,40,88,326.67 crore in morning deals. Maruti Suzuki India, Indusind Bank, State Bank of India and Axis Bank emerged as the biggest drag from the 30-share BSE Sensex pack, tanking up to 6.72 per cent. "The extraordinary uncertainty triggered by the war has pushed commodity markets into turmoil. Crude at USD 128 is a big shock. This can impact global growth and aggravate inflationary pressures. Market is slipping into bearish territory," according to V K Vijayakumar, Chief Investment Strategist at Ge...

The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises in East-West relations for decades, has been front-and-centre of investors' minds. Asian shares rallied on Wednesday as fears of a Russian invasion of the Ukraine this week dissipated after Moscow indicated it was returning some troops to base from exercises, delivering investors a measure of relief. The tension between world powers over the Ukraine situation, which has developed into one of the deepest crises in East-West relations for decades, has been front-and-centre of investors' minds. MSCI's broadest index of Asia-Pacific shares outside Japan surged 0.9% in early regional trade on Wednesday, playing catch-up with a rally in U.S. and European stocks on Tuesday. "If we continue to see signs that diplomacy is working and a de-escalation of tensions, I think we'll see a kind of reversal trade," said Kyle Rodda, a market analyst at IG in Melbourne....

Buy recommendations on One 97 Communications Ltd., the operator of Paytm, climbed to four this week, up from just two at the start of the year India’s pioneering digital payments startup  Paytm  is gradually regaining the confidence of some analysts after it had one of the worst debuts by a major technology company less than three months ago. Buy recommendations on One 97 Communications Ltd., the operator of Paytm, climbed to four this week, up from just two at the start of the year, while sell ratings have remained unchanged at three, according to data compiled by Bloomberg. It’s the first time bulls outnumbered bears since the company’s disastrous initial public offering in Mumbai during November. In the most-recent vote of confidence, Goldman Sachs analysts led by Manish Adukia raised their rating to buy from neutral, after Paytm’s December quarter revenue surprised the market. The investment bank’s target price of 1,460 rupees implies a gain of more than 50% from Monday’s ...

The sustained boom in global tech spending, a revival of local housing demand and a rebound in bank earnings are expected to be among the key drivers of gains for India’s stock market this year Analysts remain bullish, projecting a rise of about 15% for the NSE Nifty 50 Index over the next 12 months, according to sell-side estimates compiled by Bloomberg. That’s on top of the gauge’s 138% rally from its March 2020 low, the best performance among the world’s major equity markets for this period. Despite some concerns about lofty valuations and a gradual unwinding of easy-money policies, India’s benchmark is among those leading gains in Asia so far in 2022 with an advance of more than 4%. –   Here are the top sector and stock picks, according to some leading brokerages: Technology A gauge of the nation’s top 10 software providers has more than tripled from its pandemic low, as the crisis spurred the transformation of the way the world does business. While India’...

The government taking a 35.8% holding in Vodafone Idea has surprised many. At a time when it looked poised to dilute its stakes in many public sector companies, the movie failed to excite the Street too, as the cash-strapped company’s shares dipped 21% yesterday. Experts also pointed out that ailing government-owned telecom giants MTNL and BSNL are also crying for attention. They are yet to roll out 4G services. In any case, the move might well provide Vodafone Idea with a rent of life. The third-biggest telecom transporter’s raising support plans are fundamentally postponed and Vodafone Group has made it clear it won’t make any new value imbuement into its Indian unit. Against this scenery, the public authority of India is set to turn into the single biggest investor in striving Vodafone Idea after the telco selected to change over revenue worth Rs 16,000 crore on conceded range liabilities and Adjusted Gross Revenue duty into value. It had recently acknowledged a four-year ban on the...

On December 20, Brickwork Ratings [BWR) had upgraded the long-term rating to BWR BBB with a Stable outlook and short-term rating to BWR A3+ for the bank loan facilities of RSTL Shares of Rama Steel Tubes (RSTL) hit a new high, and were frozen at the 5 per cent upper circuit at Rs 412.90 on the BSE on Thursday in an otherwise weak market on improved demand outlook. Since December 20, 2021, in 13 trading days, the stock of iron & steel products company has zoomed 89 per cent from levels of Rs 218.25. Till 09:48 am; a combined 328,160 equity shares had changed hands and there were pending buy orders for 116,485 shares on the NSE and BSE. In comparison, the S&P BSE Sensex was down 1.3 per cent at 59,433. RSTL is Ieading manufacturer in the steel tube industry. RSTL products range includes MS ERW black pipes from 15mm to 200mm diameter pipes and G.l. Pipes from 15mm to 150mm NB in light, medium and heavy sizes. RSTL has a subsidiary in UAE and a step-down subsidiary in Nigeria which...

India imported 1,050 tn gold worth ($55.7 bn) in 2021, more than double of 2020. Last year's gold import surpassed the high recorded in 2011. Find out what is behind India's renewed rush for gold? Indians will build on their love for gold this year, as pent-up demand heralds a period of robust sales. This was the main finding in the World Gold Council’s recent report – The Drivers of Indian Gold Demand. The report stated that imports remain strong and retail demand was expected to pick up, when pandemic restrictions were lifted across the country. Data from the previous year illustrates this point. India spent a record $55.7 bn on gold imports in 2021, buying more than double the previous year’s tonnage. The 2021 gold import bill also surpassed the previous high of $53.9 bn in 2011. Gold’s price drop favoured retail buyers and there was strong pent-up demand for weddings in October last year. “Rising incomes are one of the biggest single drivers of long-term gold demand. This s...