Scan to Download
Indian shares gained most in three-weeks after U.S. Federal Reserve held back on an interest rate hike triggering a global equity market rally.
The S&P BSE Sensex climbed 0.9 percent to 28,773; while the NSE Nifty advanced 1 percent to 8,867, its biggest-single day jump since September 6. The market breadth was skewed in favour of the bulls at 1,050 advances, 548 declines and 267 stocks remaining unchanged.
The mid- and smallcaps outperformed their larger counterparts. According to Hemen Kapadia, senior vice president (institutional equity) at KR Choksey Securities, it is more of a scrip-specific market.
“Some of the largecaps have moved up ahead of the fundamentals, which par for the course in a bull market. However, it is also true that these same stocks will fall the hardest if we see a correction going forward,” he told BloombergQuint by phone.
The S&P BSE Information Technology index was the sole loser among the 19 sectoral gauges on the exchange. The rupee climbed the most in two weeks, adding to the woes of the software services providers already facing client uncertainty.
The picture still looks quite dicey for the IT names, said Kapadia though adding the downside seems limited from a short to medium-term perspective. “We could see a sympathy rally coming in,” he said.
All said and done, Kapadia advises investors to “do their own research” before buying any stock or to invest in equities through SIPs. More importantly, he said stay away from leveraged products like futures and options.“There is nothing wrong with the market but a lot of it is fuelled by the quantitative easing and the money printing across the globe,” he said.
Indian shares gained most in three-weeks after U.S. Federal Reserve held back on an interest rate hike triggering a global equity market rally.
The S&P BSE Sensex climbed 0.9 percent to 28,773; while the NSE Nifty advanced 1 percent to 8,867, its biggest-single day jump since September 6. The market breadth was skewed in favour of the bulls at 1,050 advances, 548 declines and 267 stocks remaining unchanged.
The mid- and smallcaps outperformed their larger counterparts. According to Hemen Kapadia, senior vice president (institutional equity) at KR Choksey Securities, it is more of a scrip-specific market.
“Some of the largecaps have moved up ahead of the fundamentals, which par for the course in a bull market. However, it is also true that these same stocks will fall the hardest if we see a correction going forward,” he told BloombergQuint by phone.
The S&P BSE Information Technology index was the sole loser among the 19 sectoral gauges on the exchange. The rupee climbed the most in two weeks, adding to the woes of the software services providers already facing client uncertainty.
The picture still looks quite dicey for the IT names, said Kapadia though adding the downside seems limited from a short to medium-term perspective. “We could see a sympathy rally coming in,” he said.
All said and done, Kapadia advises investors to “do their own research” before buying any stock or to invest in equities through SIPs. More importantly, he said stay away from leveraged products like futures and options.“There is nothing wrong with the market but a lot of it is fuelled by the quantitative easing and the money printing across the globe,” he said.
.png)
With an aim to make it easier for overseas investors, regulator Sebi is considering allowing some categories of Foreign Portfolio Investors (FPIs) to directly trade in Indian markets, starting with debt segment.
Besides, the markets regulator plans asking companies to seek minority shareholders’ approval before granting special powers relating to operations of the firms to non-promoters such as private equity investors.
(From PTI)
Shares of the infra firm gained as much as 16.1 percent to Rs 118. Earlier, its NCDs worth Rs 300 crore were assigned ‘CARE A+’ rating by CARE Ratings.
This is the biggest one-day jump for the stock since making its debt on September 16.
Indian shares made a gap up opening after the U.S. Federal Reserve refrained from raising interest rates, removing at least for six weeks an obstacle for equities that rekindled volatility this month.
The S&P BSE Sensex jumped as much as 1.1 percent to 28,871; while the NSE Nifty climbed 1.1 percent as well to 8,893. The market breadth was firmly in favour of the bulls at 1245 advances, 200 declines and 404 stocks remaining unchanged on the NSE.
Indian shares made a gap up opening after the U.S. Federal Reserve refrained from raising interest rates, removing at least for six weeks an obstacle for equities that rekindled volatility this month.
The S&P BSE Sensex jumped as much as 1.1 percent to 28,871; while the NSE Nifty climbed 1.1 percent as well to 8,893. The market breadth was firmly in favour of the bulls at 1245 advances, 200 declines and 404 stocks remaining unchanged on the NSE.
.png)
Market Movers: ICICI Bank, Mahindra & Mahindra, Indian Oil and More
For a complete list of stocks to watch, click HERE
Bond market is showing nerves over Reliance Communications’s plan to combine its wireless business with Aircel https://t.co/gR1EuTLIiV
— BloombergQuint (@BloombergQuint) September 22, 2016
Bank of Japan, Fed seen giving investors more reason to buy corporate debt https://t.co/ap3w2cmxiq @claireeboston pic.twitter.com/ueEGR5878R
— BloombergQuint (@BloombergQuint) September 22, 2016
.@TheQuint Exclusive: Uri avenged, special forces cross LoC; kill 20 terrorists https://t.co/dEDaE8xg17 pic.twitter.com/qTHEk7qgwW
— BloombergQuint (@BloombergQuint) September 22, 2016
*April-June current-account gap $0.3 billion; estimate $2.7 billion surplus
Current account surplus eludes India, reports @dugalira https://t.co/45PfgIEJoJ pic.twitter.com/nen45Q38IM
— BloombergQuint (@BloombergQuint) September 21, 2016
3 big changes to India's Union Budget.https://t.co/YmsSU3qeeS
— BloombergQuint (@BloombergQuint) September 22, 2016
Good Morning!
The Nifty Futures on the Singapore Exchange, an early indicator of Nifty performance in India, climbed 0.8 percent to 8,880.
U.S. shares rallied Wednesday after the Federal Reserve kept interest rates steady despite the economy showed signs of improving, removing at least for six weeks an obstacle for equities that rekindled volatility this month.
US markets rally as a divided Fed holds fire, signals 2016 hike still possible https://t.co/lKkX8EZNie pic.twitter.com/j4iQGZOULN
— BloombergQuint (@BloombergQuint) September 22, 2016
While agreeing that the case for a rate rise had strengthened, Yellen argued that it made sense to put off a move for now amid signs that discouraged Americans who dropped out of the labour market are returning and looking for work.
Yellen rebuffs pressure to hike as Fed gives economy room to run, report @chrisjcondon @RichMiller28https://t.co/M6CmqnzM5M pic.twitter.com/3kKsSnyT3z
— BloombergQuint (@BloombergQuint) September 22, 2016
The latest from the Fed came after the Bank of Japan adjustments on Wednesday that give it scope to keep loosening policy to revive the economy and inflation, while limiting the negative impact on bank earnings. Based on fed funds futures trading, odds for rate increase in December were 59 percent, unchanged from levels before the FOMC’s statement.
This morning Asian stocks rallied for a sixth day, following the Fed’s decision on rates, while crude oil gained due to an unexpected slide in U.S. stockpiles. Markets in Japan are shut on account of a holiday.
''The likelihood is still that they’ll hike in December'' says Krishna Memani. https://t.co/4DWRmG1J5r
— BloombergQuint (@BloombergQuint) September 21, 2016
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
