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Nvidia Becomes First-Ever Company to Cross $4 Trillion Valuation

July 10, 2025, 8:25 am

Chipmaker Nvidia made history on Wednesday by becoming the first publicly traded company to cross a $4 trillion market valuation. The company’s shares jumped 2.4% to reach $164, driven by an unrelenting surge in demand for artificial intelligence technologies.

Nvidia’s powerful chips and associated software are considered the industry gold standard for building AI products, fueling its meteoric rise. The company first crossed the $1 trillion mark in June 2023, and in just over a year, it has tripled its market worth—outpacing tech giants like Apple and Microsoft.

Faster Growth Than Apple and Microsoft

Apple was the first company to touch a $3 trillion valuation, while Microsoft now follows closely behind with a $3.75 trillion market cap. However, Nvidia’s rise has been so dramatic that it now makes up 7.3% of the entire S&P 500 index, compared to Apple’s 7% and Microsoft’s 6%.

Tariffs Fail to Halt Nvidia’s Ascent

Even geopolitical tensions haven’t derailed Nvidia’s upward momentum. In April, the company faced a 74% rebound from a temporary dip due to reciprocal tariffs introduced by US President Donald Trump, which restricted the sale of its most advanced chips to China. Nvidia has been lobbying against these export controls.

Despite this, optimism around a potential US-China trade agreement has fueled further investor confidence. The S&P 500 recently reached an all-time high, further validating the tech bull run.

Analyst Predicts More Giants to Join the $4T Club

Wedbush tech analyst Daniel Ives told The Guardian that Nvidia and Microsoft are leading the AI wave and called them the “poster children for the AI revolution.” He added, “This is the biggest tech trend we have seen in our 25 years covering tech stocks on the Street.”

According to Ives, Microsoft may reach the $4 trillion valuation “this summer,” with a long-term focus shifting toward the $5 trillion milestone “as this tech bull market is still early being led by the AI revolution.”

Ceasefire Boosts Market Sentiment Amid Global Gloom: What’s Next for Investors?

May 12, 2025, 9:53 am

The newly declared India-Pakistan ceasefire has caused a major relief—not only to geopolitical analysts, but also to financial markets. Financial analysts were concerned that a prolonged war would upset investor sentiment and damage the economy. Thankfully, such a situation has been avoided, and the attention now goes to what is in store for investors.

Geopolitical Stability Reinforces Market Resilience

Despite escalating tensions over the past few weeks, the Indian equity market has shown remarkable resilience. This can be primarily driven by enduring Foreign Institutional Investor (FII) interest, supported by positive global macroeconomic fundamentals. Since the return of Donald Trump to the American presidency, the dollar index had risen to 111 in mid-January 2025, resulting in a sharp initiation of flows into U.S. equities and bonds. This rise created brutal FII flows out of emerging markets, including India.

In January alone, India has seen an FII outflow worth ₹78,027 crores. But as the dollar index cooled down, FII selling abated—falling to ₹34,574 crores in February and ₹3,973 crores in March. The market witnessed a shift in April, as FIIs turned net buyers, pumping ₹4,223 crores. More significantly, they continued buying for 16 consecutive days, putting together ₹48,533 crores before a May 9 sell-off of ₹3,798 crores due to fears of conflict.

Now that there is a ceasefire, the stage is set for a possible renewal of FII buying.

Weakness in the World, Strength in India

Around the world, large economies are struggling with contraction or stagnation. American GDP fell 0.3% in Q1 of calendar year 2025, and Fed Chairman Jerome Powell has cautioned that “risks of higher unemployment and higher inflation have risen.” China, weighed down by retaliatory American tariffs, won’t likely increase more than 4%. Europe and emerging economies are also wrestling with weak growth and increasing expenses.

Against this background, India is the standout. With over 6% projected GDP growth, along with a 15% anticipated increase in corporate profits and a downtrend in inflation, the Indian economy presents a relatively positive picture. The Reserve Bank of India’s decision to trigger a rate-cut cycle has further improved sentiment.

Large Caps and SIPs to Drive the Rally

With FIIs having a penchant for large-cap stocks, this space is likely to head the next leg of the rally. April’s historical Systematic Investment Plan (SIP) inflows of ₹26,632 crores are another solid tailwind. But rising SIP stoppages are a worry. As the article suggests, “Investors are making a big mistake by halting SIPs. The sooner they undo it, the better.”

Among the most promising largecaps are financials such as ICICI Bank, HDFC Bank, and Chola Finance; auto leaders such as M&M and Eicher Motors; pharma giants such as Sun Pharma, Dr Reddy’s, and Cipla; and industrial leaders such as L&T and ABB. Digital plays such as Eternal and Paytm, and consumer darlings such as Titan and Pidilite, also have strong prospects. Largecap IT seems to have bottomed, and midcap tech players such as Coforge and Persistent are likely to shine.

Outlook: Stability Breeds Optimism

With ceasefire relaxing and macro numbers in sync, the Indian market can potentially see a sustained rally. But investor discipline and long-term faith—especially through SIPs—will be vital to realizing the full power of this rally.

Green Again! Indian Stock Market Recovers After Worst Drop In 10 Months: Here’s What Changed

April 8, 2025, 10:20 am

A day after facing its sharpest fall in 10 months, the Indian stock market bounced back with strong momentum on Tuesday, April 8. In early trade, investor sentiment appeared to recover from the US tariff-driven panic that rocked global equities the previous session.

At 9:15 am, the BSE Sensex opened 1,141.14 points higher, gaining 1.56% to reach 74,279.04. Meanwhile, the NSE Nifty jumped 401.10 points or 1.81% to open at 22,562.70.

Tata Steel leads gainers; Sun Pharma the only laggard

Among the 30 Sensex constituents, Tata Steel led the rally with a sharp 4.98% rise, trading at ₹136.05. Titan Company followed, up 4.71% at ₹3,166.05, and Tata Motors gained 3.48%, trading at ₹600. Only Sun Pharmaceutical Industries remained in the red, slipping 0.34% to ₹1,662.75.

Consumer durables, metal, realty sectors shine

Sector-wise, the Nifty Consumer Durables Index surged the most, climbing 3.25% to 35,112.40. The Nifty Metal Index followed with a 2.99% gain at 8,080.90, while the Nifty Realty Index rose 2.42% to 795.

Recap of the Monday market meltdown

The rebound comes after a brutal session on Monday, April 7, where the Sensex plunged 2,226.79 points or 2.95% to close at 73,137.90. The Nifty fell 742.85 points or 3.24% to settle at 22,161.60. The massive selloff was triggered by investor fears linked to new US tariffs, resulting in panic across global markets.

On Monday, Tata Steel saw the steepest drop among Sensex stocks, falling 7.73% to ₹129.60. It was followed by Larsen & Toubro (down 5.78% at ₹3,070.85) and Tata Motors (down 5.54% at ₹579.85). Hindustan Unilever was the sole gainer, inching up 0.25% to ₹2,250.15.

Sector-specific losses: Metal and Realty tumble

The Nifty Metal Index recorded the sharpest sectoral fall of 6.75% on Monday, closing at ₹7,846.35. Realty followed, down 5.69% at ₹776.20, and Media declined by 3.94% to ₹1,429.90.

In the metal space, Lloyds Metals & Energy tanked 8.86%, National Aluminium fell 7.86%, and JSW Steel dropped 7.53%. Among real estate stocks, Anant Raj declined 7.66%, Sobha 7.46%, and DLF 7.03%. In media, Zee Entertainment Enterprises fell 6.80%, followed by PVR Inox (5.55%) and Dish TV (4.35%).

FIIs sell big, DIIs buy bigger

Foreign Institutional Investors (FIIs) remained net sellers, offloading equities worth ₹9,040.01 crore. In contrast, Domestic Institutional Investors (DIIs) picked up the slack, buying ₹12,122.45 crore worth of stocks.

Meanwhile, the 10-year Indian Government Bond saw a 0.23% decline, trading at ₹102.05.

US President led to tumble in stock market: Rahul Gandhi

April 7, 2025, 11:18 pm

Lok Sabha Leader of Opposition and Congress MP Rahul Gandhi on Monday attacked US President Donald Trump over the stock market situation and said that the US president has caused the stock market to tumble.

“The US president has led to a tumble in the stock market. Less than 1 per cent of the people here have their money invested in the stock market, which means the stock market is not a field for you. Unlimited money is made in it, but you don’t get the benefit of it,” the Lok Sabha LoP said, addressing the Samvidhan Suraksha Sammelan in Patna.

Asian stock markets witnessed a major sell-off on Monday after US President Donald Trump announced a new round of tariffs. The markets opened with heavy selling pressure, reflecting growing fears over the impact of the tariffs on global trade and economic growth.

The Lok Sabha LoP said that the people from weaker sections of society were being treated as second-class citizens.

“People say that the Constitution was drafted in 1947. However, I believe that this Constitution is thousands of years old, and it includes thoughts of Ambedkar ji, Pule ji, Gandhi ji, Nehru ji, Guru Nanak ji and Kabir. The Constitution contains the thoughts of those whom India respects,” he added.

He further remembered former Prime Minister Jawaharlal Nehru and Mahatma Gandhi and said that they both loved truth.

“I was asked a question about what your great-grandfather Nehru ji was like and what you learned from him? In the room where I was sitting, there was a picture of not only Nehru ji but also Mahatma Gandhi ji. Looking at that picture, only one thought came to my mind: that both these people loved the truth,” the LoP said.

Rahul Gandhi further said that the Congress will demolish the “fake barrier” of 50 per cent cap on reservations.

The Bihar Legislative Assembly election for all 243 constituencies is scheduled to be held in October or November this year. The last assembly elections were held in October-November 2020.

Circuit Breakers: Shields the Stock Market or Just Delays the Fall? | TDG Explainer

April 7, 2025, 4:57 pm

Asian markets plummeted on April 7, 2025, after the US, led by President Donald Trump, suddenly imposed extensive “reciprocal” tariffs. The agression of those trade actions sparked fears of an international economic conflict. Japan, South Korea, and Taiwan saw their major indices plummet, compelling market halts via circuit breakers—safety devices that suspend trading as volatility surges. Even India’s market fell almost 4% for the day. Let’s know what circuit breakers are, how they work, and what their increased use means in terms of the delicacy of the international stock market.

Asian Markets Hit Hard

Asian stock markets experienced their worst sell-off in years. Investors panicked following Trump’s announcement of steep tariffs, worried about retaliation and disrupted global trade. Japan’s Nikkei declined more than 8% in hours. South Korea’s Kospi declined almost 5%, while Taiwan’s Taiex plummeted almost 10% before these breakers took effect.

In both instances, trading stopped short to avoid greater losses. Such interruptions mirrored the high degree of sensitivity of the markets today to political risk. The rapidity and magnitude of the falls revealed how quickly world capital can leave when confidence fails.

What Are Circuit Breakers and How Do They Work?

Circuit breakers function similar to emergency brakes. When prices decline too rapidly, these automatic devices halt trading temporarily. The intention is to provide investors with time to cool off, comprehend the news, and prevent them from making impulsive decisions.

Various markets have various thresholds. In Tokyo, for instance, a sudden drop in the Nikkei caused the exchange to halt trades for 10 minutes. Taiwan and South Korea did the same, halting activity to stem the momentum of the selling.

The premise is straightforward: cut off the panic before it gets away. Although they don’t turn losses around, circuit breakers seek to minimize the impact and bring some semblance of order.

India Slips But Holds Ground

India’s markets declined too, but less sharply. The BSE Sensex lost 3,230 points and the Nifty fell more than 1,000—both more than 4% lower. But circuit breakers did not trip. Economists attribute India’s better-performing domestic economy, less foreign speculation, and more stable retail investor base to softening the blow.

India’s regulator, SEBI, imposes circuit breakers at 10%, 15%, and 20% levels. Such rules impose discipline and clarity, making the behavior of the market more predictable. India was not spared from global shockwaves, but its systems ensured panic was kept under check.

Why Circuit Breakers Were Introduced ?

These were originated in the wake of the 1987 Black Monday collapse, when the Dow Jones fell 22.6% in a single day. That historic plunge revealed the risk of unbridled panic. Regulators developed circuit breakers to avert repeat failures by soothing the frenzy.

They’ve since improved. The 2010 Flash Crash and the COVID-19 panic of 2020 forced exchanges to hone these systems. As Morgan Stanley noted after the 2020 pandemic-triggered selloffs, ‘circuit breakers bought us time—but not clarity. US markets invoked circuit breakers four times in ten days in March 2020. These instances demonstrated that even today’s markets can spin out of control—and require safety valves.

Do Circuit Breakers Work—or Just Delay the Crash?

These breakers stop the bleeding, but only for temporary basis. Supporters argue they give traders time to breathe and rethink. Critics believe they just delay the inevitable. Once trading resumes, prices often keep sliding.

There is another danger: pent-up sell orders can build up pressure in the break. When trading resumes, the floodgates open, and volatility surges anew. In world markets, the disparity in rules can also create confusion. If Tokyo closes but Wall Street doesn’t, investors can react in unpredictable manners.

Others fear excessive dependency creates complacency. Dealers may take greater risks, anticipating circuit breakers will break their fall. That can create more catastrophic crashes later.

What Are Their Long-Term Effects?

Circuit breakers help calm markets during unexpected crashes—but their long-term impact raises serious questions. In the long run, these instruments shape investor psychology—usually inadvertently. At one level, they insulate against chaos, keeping impulsive choices from escalating into outright financial disasters.

However, if used repeatedly, they can encourage a false perception of security. Investors may start to think that markets will always be “paused” before real damage is done, which would lead to riskier behavior.

Circuit breakers don’t solve the underlying causes of market volatility—such as bad policymaking, poor economic fundamentals, or geopolitical tensions. They only treat the symptoms in the short term. As markets expand more rapidly and become more interconnected, circuit breakers could be swamped, particularly when algorithmic trading and cross-border flows are prevalent. Thus, they are partial but a necessary solution—purchasing time, not stability.

Circuit Breakers in a Globalized Market

The modern financial world is interdependent. A jolt in one nation sends shockwaves around the world in seconds. That makes circuit breakers more crucial—but also more complicated.

To work, nations require enhanced coordination. Definitive guidelines, effective communications, and educating investors are more crucial than ever. The sell-off on April 7 served as a demonstration of how easily one policy shift can ruffle markets globally.

Circuit breakers come in handy. But they replace nothing: responsible economic policy, solid governance. When the globe is this mercurial, there must be more profound answers.

Stock Market Needs More Than Just a Pause Button

Circuit breakers are useful tools, but they’re not the complete solutions. They halt panic in the short run but can’t avoid deeper instability. As trade wars erupt and policy shocks mount, these breakers might be used more—but their limitations are obvious.

The world’s stock market requires greater coordination, improved fundamentals, and wiser regulation. Circuit breakers will never go away, but they have to operate together with genuine reforms to render markets genuinely resilient.

Stock Market Bleeds: India Drops 4% But Still Holds Stronger

April 7, 2025, 3:17 pm

The Indian stock market experienced a volatile day on April 7, 2025, as the Sensex and Nifty 50 fell more than 4%. Nevertheless, in a day of general financial fear, the Indian share market was still able to outperform most major Asian indexes. The BSE Sensex fell by 3,230 points, closing at 72,134.56, while the Nifty 50 declined 1,034 points, closing at 21,870.10. Although the losses were severe, India’s stock market demonstrated some resilience in the face of a vicious regional sell-off brought about by fears over global trade.

Indian Stock Market Outperforms Regional Collapse

The Sensex started at a low 71,449.94 but recovered some of its losses during the day. The Nifty 50 too began weak at 21,758.40 but recovered slightly. Top Sensex draggers were Tata Steel, Tata Motors, L&T, HCLTech, and Kotak Mahindra Bank. On the Nifty 50, the losers’ list was led by Trent, JSW Steel, Shriram Finance, and Tata Motors.

Despite these losses, analysts cited India’s relatively stable stock market framework, better domestic fundamentals, and less foreign investor dependence. In contrast to markets such as Taiwan and Hong Kong, India’s retail investor base is also considered less speculative, serving to cushion the blow.

Asia’s Stock Markets Reeling From Tariff Shockwaves

In Asia, the stock markets suffered the greater damage. Hong Kong’s Hang Seng index plummeted almost 13%—its worst in decades. Taiwan’s Taiex plummeted almost 10% in initial trade and fluctuated about a 9% loss by afternoon. Japan’s Nikkei declined more than 7%, highlighting the panicky nature of the region.

The sell-off followed new US tariffs imposed by then-President Donald Trump, reviving concerns of a trade war. Global investors quickly withdrew funds from risky assets, causing a sharp shock in Asian stock markets.

Stock Market Volatility: India Holds Ground For Now

Though the Indian stock market performed better than its peers, there is uncertainty ahead. As global tensions escalate, currency volatility and trade disruptions lie ahead, investors will likely continue to face pressure. Don’t be complacent, say experts, stay vigilant to changes in policy both internationally and in India.

The Indian stock market is low—but far from out. The next few weeks will prove if its strength lasts.

Recession Ahead? Trump’s Tariffs Crash Markets, Shock Global Economy

April 4, 2025, 11:46 am

US President Donald Trump’s “Liberation Day” tariffs have sparked recession fears and international economic turmoil. Announced on April 2, 2025, they put a minimum 10% duty on all imports, much higher rates on major trade partners. Markets dipped, inflation worries mounted, and analysts cautioned of delayed growth, reduced consumer spending, and potential retaliation from major economies.

Fitch Warns of Recession Risks

Fitch Ratings warned that steep tariff increases may plunge the US into recession and decelerate world growth. The effective tariff rate (ETR) is currently 20% on EU imports and 54% on Chinese imports. Other Asian countries also bear high duties—Vietnam (46%), Thailand (36%), Taiwan (32%), India (26%), South Korea (25%), Malaysia (24%), and Japan (24%). These rates are much higher than Fitch’s earlier estimates of 15% for the EU and 35% for China.

Fitch now predicts the aggregate US ETR to reach 25%, the highest since more than a century ago. This rise will most likely pull US growth down below the previous projection of 1.7% for 2025. Consumer confidence is weakening, and spending is decelerating, which is an indicator of economic weakness.

Higher tariffs will raise consumer prices and reduce corporate profits. Companies hit with increased import costs could lay off workers, while inflation-pinched consumers cut back on buying. With these forces building, the Federal Reserve might be reluctant to slash interest rates, further slowing growth.

Stock Markets Crash as Investors Respond

Markets plummeted following the tariff announcement. On April 3, the S&P 500 fell 4.8%, wiping out more than $2 trillion—the largest one-day decline since March 2020. The Dow fell over 1,200 points, and the Nasdaq dropped 5.1%.

Stocks and retail got particularly hammered. Apple, Amazon, and Nike dipped sharply as investors prepared for the increased cost of goods and the reduced demand. Experts have forewarned higher tariffs, explaining that the tariffs will lead to higher-priced merchandise, thereby slicing purchasing power as well as hampering economic activity.

World Ripple Effects and Intensifying Uncertainty

The effects are not just limited to the US Asian and European economies also fell as trade war concerns increased. Although some Latin American nations may experience small trade benefits, Fitch warned the broad-based nature of these tariffs will tend to reverse any gains.

Large US trading partners can retaliate with their own tariffs, further destabilizing international trade. If China and the EU retaliate, it could increase inflation and exacerbate supply chain disruptions.

With potential retaliation, market volatility, and an escalating trade war, global uncertainty looms. Investors and businesses brace for further economic shocks as the full effects of these tariffs unfold.

Budget 2025 Loophole: Why You Might Still Pay Tax Despite Earning Below Rs 12 Lakh

February 2, 2025, 1:53 pm

In the Union Budget 2025, Finance Minister Nirmala Sitharaman announced significant tax relief for individuals earning up to Rs 12 lakh annually. Under the proposed New Tax Regime, taxpayers within this income bracket can benefit from rebates under Section 87A, effectively reducing their tax liability to zero. However, exceptions apply, particularly concerning income from special rate categories like capital gains.

Who Still Pays Taxes Despite the Rebate?

While the rebate covers normal income, it does not extend to special rate income, including short-term capital gains (STCG) under Section 111A and long-term capital gains (LTCG) under Section 112. This means individuals earning Rs 12 lakh or less could still face tax obligations if part of their income comes from these sources.

Illustration of Tax Liability Scenarios:

Scenario 1: Rs 9 Lakh Salary + Rs 3 Lakh STCG
• Salary income of Rs 9 lakh qualifies for a full rebate under Section 87A, resulting in zero tax liability.
• STCG from equity investments is taxed at 20% (as per Budget 2024). • Tax calculation: Rs 3,00,000 × 20% = Rs 60,000.
• Total Tax Payable: Rs 60,000.
Scenario 2: Rs 9 Lakh Salary + Rs 3 Lakh LTCG
• Salary income up to Rs 12 lakh receives the full rebate, with zero tax liability. • LTCG from listed equities is taxed at 12.5%, with an exemption for the first Rs 1,25,000. • Taxable LTCG: Rs 1,75,000.
• Tax calculation: Rs 1,75,000 × 12.5% = Rs 21,875.
• Total Tax Payable: Rs 21,875.

While the Budget 2025 offers considerable relief for salaried individuals, those earning from capital gains will still face tax liabilities, underscoring the importance of understanding the nuances of the new tax regime.

Stocks Struggle, Rupee Hits New Low: Nifty, Sensex Drop

December 20, 2024, 10:07 am

Indian stock markets continued to face pressure on Friday, opening flat amid concerns related to Foreign Portfolio Investor (FPI) selling and the weakening Indian rupee. The Nifty 50 index opened at 23,960.70 points with a modest gain of just 9 points, while the BSE Sensex gained 0.15% to open at 79,335.48 points. Despite these minor gains, experts remain cautious as the global market sentiment has been impacted by the Federal Reserve’s actions.

Global Market Sentiment Affected by US Fed’s Decision

The unexpected decision by the US Federal Reserve to reduce its rate cut cycle has sent ripples through global markets. This decision, combined with ongoing FPI selling, has created challenges for the Indian market, making it difficult for any rally to gain momentum. Experts suggest that the chances of a year-end rally still exist, but the volatility in the market is likely to hamper any significant growth.

Ajay Bagga, a banking and market expert, explained, “Indian markets are trying to shake off the global ‘risk-off’ sentiment, but the FPI selling this week has jolted those efforts so far. We are still optimistic that we could see a short burst going into the year-end, but the volatility is making any rally fragile for now.” Bagga further compared US Fed Chairman Jerome Powell’s actions to the “Grinch who stole Christmas,” referring to the negative impact on market sentiment due to reduced rate cuts.

Sectoral Performance and Market Volatility

In terms of sectoral performance, Friday saw a recovery in Nifty IT, Nifty Media, and Nifty Pharma indices. However, most other indices continued to experience downward pressure. Of the 50 stocks in the Nifty 50 index, only 13 opened with gains, while the remaining 37 saw declines.

Analysts also pointed to technical indicators suggesting possible support for the Nifty around 23,870 points. Akshay Chinchalkar, Head of Research at Axis Securities, noted, “The support, near 23,870, is also the area where the 61.8% Fibonacci retracement of the November to December advance meets a rising 200-day average.”

Global Markets Mirror Indian Weakness

The weakness in Indian markets is not isolated. Asian markets also displayed lackluster performance on Friday. Japan’s Nikkei 225 index remained flat following the central bank’s decision to hold interest rates steady, while markets in Taiwan, South Korea, and Indonesia continued to experience selling pressure.

Despite these challenges, experts maintain hope for a possible rebound, especially if the market stabilises in the coming days.

With global markets reeling from the US Federal Reserve’s surprise rate decision and a continuation of FPI selling, Indian stock markets are facing significant headwinds. While some sectors show promise, the overall market remains fragile, and investors should remain cautious. The year-end rally may still be possible, but only if market conditions stabilise in the coming weeks.

Top Stocks On Market Watch: Strategic Shifts At Torrent Pharma, Indus Towers, And More

December 5, 2024, 9:13 am

Indian stock markets are said to open in a positive stride on December 5, as their performance on Wall Street has been the best. US markets witnessed a continued rise, whereby the Dow Jones reached the value of 45,000 marks for the first time while the S&P 500 went to close near 6,100, marking a growth of 0.6 percent. Asian markets, however, entered with mixed movements.

The rally in US stocks was boosted by upbeat comments from Federal Reserve Chair Jerome Powell at the New York Times DealBook Summit. Powell mentioned the robustness of the US economy and reduced downside risks in the labor market, implying a careful but steady approach to cutting interest rates toward a neutral level.

Key Stocks in Focus

Indus Towers: Vodafone Group Plc yesterday announced plans to sell its remaining 3% stake in Indus Towers through an accelerated book-build offering. The proceeds, estimated at $331.5 million or ₹2,800 crore at Wednesday’s closing price of ₹353.60 per share, will mostly be used to repay the $101 million debt associated with its Indian assets.

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Torrent Pharmaceuticals: Torrent Pharmaceuticals disclosed that it acquired three critical brands—Cospiaq, Cospiaq Met, and Xilingio—from Boehringer Ingelheim International GmbH. It is going to improve its product line in the diabetes care segment by this strategic move.

Dynamische Dienste & Security: The Maharashtra Government came up with the Package Scheme of Incentives (PSI) 2019 offering an offer letter for a “Mega Project”. The project envisages putting up a solar PV panel manufacturing unit with 1,800 MW capacity in Raigad district of Maharashtra that requires ₹ 1,080 crores of investment.

Bondada Engineering: Bondada Engineering won an order worth ₹108 crore from the Bihar Renewable Energy Development Agency. The work includes designing, supplying, installing, and maintaining smart solar streetlights under the Mukhyamantri Gramin Solar Street Light Yojana.

Mazagon Dock Shipbuilders: The company responded to recent media reports about three more Scorpene-class submarines under Project 75, stating that commercial negotiations are on, and no such decision has been communicated to them.

Metropolis Healthcare: Equity shares on preferential allotment issue to be approved, while The board of directors will meet December 9 to deliberate over the approval of preferential equity share issue, sign of potentially raising funds.

Hero MotoCorp: Hero MotoCorp revealed the new VIDA V2 electric scooter range aimed for aspirational yet affordable electrical solutions for mobility, under which hero maintained its leadership in the Ev markets

Indraprastha Gas: Indraprastha Gas declared a Board meeting scheduled for 10 December to take the deliberations on bonus shares issuing proposition, benefiting the company’s equity shareholders, perhaps.

Market Outlook

Market seems positive going ahead given that world indices are moving higher. Corporates will remain keen on taking big moves hence this can work well for a high-range opening. Investors will wait to take their cues from the stocks aforementioned as well as macro economics going ahead today.

Bride Waits, Market Doesn’t: Groom Checks Stocks Before Tying the Knot

November 29, 2024, 12:57 pm

As wedding season continues, social media is flooded with wedding videos, from joyous couple dances to unexpected mishaps. Among these, a recent video has gone viral for a surprising twist, showcasing a groom focused on something entirely unrelated to his big day.

The Viral Video Takes Over

The video captures a groom seated at the mandap, moments before his wedding ceremony. Dressed in a stunning sherwani, he appears to be deeply engrossed in his phone. However, it’s not a heartfelt message or last-minute wedding detail occupying his attention—it’s his trading dashboard.

Secretly recorded, the video zooms in to reveal the groom monitoring stock market fluctuations, even as the ceremony is about to begin. His intense focus on the trades rather than the event itself has amused millions online.

Watch:

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Social Media Reaction

The video, shared on Instagram by @tradingleo.in, has garnered over 12.4 million views and nearly 4 lakh likes. The caption humorously reads, “POV: You are about to get married but your mind is on open trade positions.”

Viewers flooded the post with witty comments. One person joked, “Only actual traders can comprehend this.” Another quipped, “Wedding is temporary and trading is eternal.” Yet another chimed in, “Once a trader, always a trader.”

Wedding videos often capture unforgettable moments, but this one stands out for the groom’s unique prioritization of the stock market on what is supposed to be the most significant day of his life. While some found the clip relatable, others couldn’t stop laughing at the unexpected scenario.

This lighthearted moment reminds us of the unpredictability of weddings, proving once again why such videos continue to captivate audiences online.

Mumbai Cyber Fraud: Retired Ship Captain Rs 11.16 Cr Loss In Fake Stock Market Investment

November 27, 2024, 11:37 am

A shocking case of cyber fraud saw a retired ship captain from theColaba area of Mumbai lose a staggering Rs 11.16 crore to fraudsters promising him massive returns in the stock market. The 75-year-old victim, Zhakshis Kosa Wadia, has lodged a complaint with the South Regional Cyber Cell, which is now investigating the case.

How the Fraud Unfolded

The fraud started on 19 August 2024, when Wadia was added to a WhatsApp group called “Motilal Oswal Investment Club 17.” As time passed, the initial group, which seemed like a genuine investment advice providing stock market platform, started gaining the trust of Wadia.

Wadia was then sent a link to open an account under the name Motilal Oswal OTC. After opening the account, he was contacted by a woman named Ananya Smith, who introduced herself as an investment guide. Smith convinced Wadia to make large investments, promising high returns and offering continuous updates on his investment progress.

A Total of Rs 11.16 Crore Transferred

Acting on Smith’s advice, Wadia transferred a total of Rs 11,16,61,161 across 22 different bank accounts for his investments. The fraudsters even created a fake app to show Wadia significant profits on his investments, further fueling his belief in the legitimacy of the scheme.

Fraudsters Demand 20% Tax Payment

The situation took a turn when Wadia tried to withdraw his funds and was told by Ananya Smith that he needed to pay a 20% tax on his profits. This demand raised red flags for Wadia, prompting him to contact the Motilal Oswal company directly. Upon inquiry, he learned that the entire investment scheme was fraudulent, and the company had no association with the individuals involved.

Cyber Cell Investigation Underway

Realizing he had been scammed, Wadia promptly filed a complaint with the South Regional Cyber Cell. The Cyber Cell is currently pursuing an investigation, attempting to track down the culprits behind the fraud. At present, the two suspects remain unidentified.

This case highlights the growing concerns over cyber fraud targeting individuals, particularly older adults, through seemingly trustworthy investment platforms. Authorities have urged the public to exercise caution and verify the legitimacy of such investment opportunities to avoid falling victim to similar scams.

BSE, NSE Closed for Diwali; Muhurat Trading to Open at 6 PM Today

November 1, 2024, 9:09 am

Today, trading activities will be on pause at the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) in observance of Diwali 2024. This closure affects the Equity Segment, Equity Derivative Segment, and Securities Lending and Borrowing (SLB) Segment. Additionally, the Currency Derivatives Segment will not operate due to the holiday.

Special Muhurat Trading Session Scheduled

Despite the holiday, a special Muhurat Trading Session will occur on Friday, running from 6:00 PM to 7:00 PM. This one-hour session marks a symbolic start to the financial year in honor of Diwali.

Commodity Markets Suspended During Morning Session

In the Commodity Derivatives and Electronic Gold Receipts (EGR) Segments, trading will be suspended from 9:00 AM to 5:00 PM. However, these segments will resume operations at 5:00 PM. As a result, the Multi Commodity Exchange (MCX) and National Commodity Exchange (NCDEX) will remain inactive during the morning session.

Remaining Stock Market Holidays in 2024

This Diwali closure shortens the trading week. According to the 2024 stock market holiday calendar, Indian markets will close twice more in November. Market holidays include November 1 for Diwali and November 15 for Guru Nanak Jayanti. December will have one holiday on December 25 for Christmas.

Thus, only two stock market holidays remain for the year after Diwali: November 15 and December 25.

Indian Stock Market Performance Amid Global Trends

On Thursday, Indian stock markets ended lower for the second consecutive session, impacted by weak global market trends.

The Nifty 50 index fell by 135 points to close at 24,205. Meanwhile, the BSE Sensex dropped 553 points, ending at 79,389, and the Nifty Bank index closed 251 points lower at 51,555.

Small-Cap Index Remains Positive

Although major indexes declined, the small-cap index rose by 1.6 percent. The advance-decline ratio also remained positive at 1.82:1, indicating more stocks advanced than declined.

Global Markets Under Pressure

Global stock markets also saw declines on Thursday as investors remained cautious ahead of next week’s U.S. elections.

AI Cost Concerns from Meta and Microsoft

Investor sentiment weakened further after Meta Platforms and Microsoft warned of increasing costs due to artificial intelligence development. Europe’s benchmark index also fell, recording its worst monthly performance in a year.

Gold Rates Decline Slightly in Delhi Ahead of Festive Season

October 26, 2024, 1:34 pm

Gold prices in Delhi saw a slight decline today, October 26, 2024. The current rate for 10 grams is ₹79,763, a decrease from yesterday’s price of ₹80,253. Just a week ago, on October 20, gold was valued at ₹79,593.

This decrease comes as the festive season approaches, with Dhanteras on October 29 and Diwali starting on October 31.

Reasons Behind the Gold Price Surge

Gold prices have risen by 30% compared to last year. Several factors drive this increase:

Geopolitical Tensions: The Russia-Ukraine conflict and the Israel-Gaza crisis have led investors to buy gold for security.
Economic Shifts: China’s central bank cut its 1-year and 5-year prime loan rates by 25 basis points, impacting global gold demand.

Stock Market’s Poor Performance This Week

The stock market struggled this week, closing in the red on Friday, October 25, 2024:

BSE Sensex fell 662.87 points, or 0.83%, ending at 79,402.29.
NSE Nifty dropped 218.60 points, or 0.9%, to close at 24,180.80.

Key companies declined on the NSE Nifty:

IndusInd Bank Ltd fell by 18.99%.
Adani Enterprises Ltd dropped by 4.90%.
Bharat Petroleum Corporation Ltd declined by 4.82%.

Sectoral Drops

Most NSE sectors closed lower, except FMCG, PSU Banks, Healthcare, and MidSmall Healthcare. The biggest declines included:

Consumer Durables: Down by 2.60%.
Oil & Gas: Fell by 2.54%.
Metals: Dropped by 2.42%.

This week’s trends show a shift to safe assets like gold, reflecting global uncertainties impacting the markets.

Tata Group Stocks in Focus After Ratan Tata’s Demise

October 10, 2024, 6:29 am

Tata Group shares are expected to remain in the spotlight during Thursday’s trading session, following the death of Ratan Tata, the chairman emeritus of Tata Sons, on Wednesday night. Ratan Tata, a visionary industrialist, was instrumental in transforming Tata Group into one of India’s largest and most influential business conglomerates.

N Chandrasekaran’s Tribute to Ratan Tata

In a heartfelt statement, N Chandrasekaran, chairman of Tata Sons, expressed deep sorrow at the loss of Ratan Tata. He acknowledged Tata’s immense contributions to both the group and the nation.

“It is with a profound sense of loss that we bid farewell to Mr. Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation,” Chandrasekaran said.

Tata Group Stocks’ Performance

Tata Group companies have performed well in 2024, with their combined market capitalization growing by 15.4 percent since June. This growth has been driven by the strong results of major companies within the group, such as Tata Consultancy Services (TCS) and Tata Motors.

Analysts have pointed out that Tata Group stocks offer investors diversification across multiple sectors, regular dividend payouts, and long-term capital growth. Following Ratan Tata’s passing, investors will be keenly observing the group’s succession plans, as it could have a significant impact on the company’s performance in the Indian stock market.

TCS Q2 FY25 Earnings

Meanwhile, Tata Consultancy Services (TCS) is preparing to release its earnings for the quarter ending September 30, 2024. The company has notified the market through an exchange filing.

“A Meeting of the Board of Directors of Tata Communications Limited (‘the Company’) is scheduled to be held on Thursday, October 17, 2024, to consider, approve, and take on record the Unaudited Standalone and Consolidated Financial Results, along with the Limited Review Reports of Statutory Auditors for the quarter and half-year ended September 30, 2024,” the filing stated.

Ahead of the earnings announcement, TCS shares closed 0.13 percent higher on October 9, ending at ₹4,258 per share on the National Stock Exchange (NSE).

Tata Technologies IPO

In addition, Tata Technologies, one of the most anticipated IPOs of 2023, recently made a remarkable debut on the Indian stock market. Tata Technologies’ initial public offering (IPO), launched in November 2023, was Tata Group’s first IPO in over 19 years and secured the third-highest listing gains in India’s capital market history.

On November 30, 2023, Tata Technologies’ shares were listed at ₹1,200 and closed at ₹1,328 on the NSE, representing a 140 percent premium over the IPO price. The offering, which included an offer-for-sale (OFS) of 6.08 crore shares by Tata Motors, Alpha TC Holdings, and Tata Capital Growth Fund 1, was highly successful, with the IPO oversubscribed by 69.43 times, attracting over 73.38 lakh applications from both retail and institutional investors.

NBCC India Jumps 8% On Upcoming August 31 Bonus Issue Proposal

August 28, 2024, 12:17 pm

NBCC (India) shares jumped by 8 percent in early trading on August 28, following the announcement that the company will consider a bonus issue. This positive news sparked strong buying interest, pushing the stock to its day’s peak of Rs 192.60 on the NSE, edging closer to its all-time high of Rs 198.30.

The company’s board of directors is scheduled to meet on August 31, 2024, to assess the proposal for issuing bonus shares to equity shareholders. This potential bonus issue would be funded through the capitalization of reserves, pending shareholder approval and the ratio decided by the board.

In recent developments, on August 14, NBCC’s subsidiary HSCC (India) received a Rs 528.21 crore work order from the Directorate of Medical Education & Research, Haryana. This order involves procuring biomedical equipment and hospital furniture for the Pt. Deen Dayal Upadhyaya University of Health Sciences in Kutail, Karnal.

Additionally, on August 9, NBCC secured a significant Rs 15,000-crore order from the Srinagar Development Authority to develop a Satellite Township covering 406 acres at Rakh-e-Gund Akshah, Bemina, Srinagar (J&K).

For its financial performance, NBCC reported a 39% rise in net profit for the quarter ending June 2024, reaching Rs 104.62 crore.

Disclaimer: The opinions and investment advice shared by experts on Moneycontrol.com are solely their own and do not reflect the views of the website or its management. Moneycontrol.com recommends that users consult certified professionals before making any investment decisions.

Black Monday: Sensex And Nifty Plummet, Internet Responds With Dark Humor

August 5, 2024, 5:32 pm

As the Sensex and Nifty experience steep declines on Black Monday, the internet erupts with memes predicting a recession, showcasing humor amid financial turmoil.

Global Market Impact

The recent stock market crash has had a significant impact worldwide. Major markets such as the United States, Japan, and other Asian countries have been affected, with a domino effect reaching across the globe.

Key Factors:

A dismal U.S. jobs report showing an unemployment rate of 4.3% has fueled fears of a slowing economy and potential recession.
The Japanese Yen has crashed, exacerbating market tensions due to geopolitical unrest in the Middle East.
India’s Sensex and Nifty dropped by over 3% each, reflecting the broader market anxiety.
Japan’s Nikkei, the stock index, suffered a 12% plunge.
Other affected markets include London, Taiwan, Seoul, Shanghai, and Hong Kong.

Internet’s Humorous Take

Braking:?

Crash stock market “Black Monday”#stockmarketcrash #sensex pic.twitter.com/zWcetLtSAC

— Nagendra pandey (@nagendr_24) August 5, 2024

???? pic.twitter.com/Z5kXgZjEGI

— Rothmus ? (@Rothmus) August 5, 2024

Despite the financial turmoil, the internet has turned to humor to cope with the situation. Screens worldwide are filled with red as stocks plummet, affecting personal finances. Popular Indian meme templates have been repurposed to reflect the circumstances, featuring references to “CID,” “Scam,” “3 Idiots,” and “Gangs of Wasseypur.”

#nifty down -483 points#banknifty down -889 points#sensex down – 1400 points#StockMarket #stockmarketcrash #gold #bitcoin #nse #bse pic.twitter.com/viYlJ3la0n

— Ace Capital Enterprise (@acecapitalent) August 5, 2024

#stockmarketcrash
Today the portfolio is moving above the danger mark. Looks like a tsunami has arrived.??#stockmarketcrash #market
“Middle East” #recession #Hockey  #blackmonday pic.twitter.com/rvDX2acl7T

— Nagendra pandey (@nagendr_24) August 5, 2024

The viral phrase “Chin Tapak Dum Dum,” recently used as a humorous response to various situations, has also found its way into discussions about the stock market crash.

#sensex #nifty50 pic.twitter.com/Tf87wGoi7J

— ?? Vipul ??? (@Iminyoursoul2) August 5, 2024

Conclusion

Black Monday has united the internet in laughter amid chaos, highlighting the ability to find humor even in challenging times. While the financial impact is significant, the internet’s response underscores a shared resilience and creativity in the face of adversity.

Stock Market Today: BSE Sensex Drops Over 700 Points; Nifty50 Hovers Around 24,800

August 2, 2024, 10:31 am

On Friday, the Indian equity benchmark indices, BSE Sensex and Nifty50, experienced a sharp decline influenced by global trends. The BSE Sensex hovered near 81,200 levels, and Nifty50 approached 24,800. At 9:16 AM, the BSE Sensex was trading at 81,170.86, a drop of 697 points or 0.85%, while Nifty50 stood at 24,805.70, down by 205 points or 0.82%.

Ajit Mishra, SVP of Research at Religare Broking, noted, “Nifty is now approaching its immediate hurdle at 25,100 and will need fresh triggers to surpass this level. While buoyancy in the global markets, particularly in the US, is encouraging, the underperformance of banking majors is limiting momentum. We continue to advocate a buy on dips strategy, emphasizing careful stock selection.”

According to Nagaraj Shetti from HDFC Securities, the critical resistance range of 25,000-25,100 remains unbroken, leading to potential short-term consolidation or a minor dip, with immediate support at 24,750 levels.

Global markets are exhibiting weakness, with S&P 500 futures, Hang Seng futures, Nikkei 225 futures, Japan’s Topix, Australia’s S&P/ASX 200, and Euro Stoxx 50 futures all trading lower. The forex market remains relatively stable, with minimal changes in the euro, Japanese yen, offshore yuan, and Australian dollar against the US dollar.

Oil prices increased on Friday but are on track for a fourth consecutive weekly decline due to signs of sluggish global fuel demand growth overshadowing concerns about supply disruptions in the Middle East. Brent crude futures increased by 0.4% to $79.85 per barrel, while U.S. West Texas Intermediate crude futures rose by 0.5% to $76.69.

Several stocks, including India Cements, Granules, BirlaSoft, Indiamart, RBL Bank, and GNFC, are in the F&O ban period today. On Thursday, foreign portfolio investors were net buyers at Rs 2,089 crore, while domestic institutional investors purchased shares worth Rs 337 crore.

Titan, Hindustan Zinc, Delhivery, and 98 other companies are scheduled to announce their first-quarter results on Friday.

Stock Market Today: Sensex Hits Record High, Nifty Surpasses 24,900 For The First Time

July 29, 2024, 10:22 am

On July 19, benchmark stock market indices opened on a positive note, driven by favorable developments in the US economy and sustained momentum from Q1 results. The BSE Sensex surged to an all-time high of 81,720.25 at the opening bell, while the NSE Nifty50 rose to 24,980.45, edging closer to the 25,000 milestone. Other broader market indices also started the trading session on a strong footing.

The top five gainers on the Nifty50 were NTPC, BPCL, ICICI Bank, SBI, and Shriram Finance. Conversely, Dr. Reddy’s Laboratories, Titan, Cipla, Tata Consumer Products, and SBI Life were among the biggest losers.

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented on the market’s performance, stating, “The undercurrent of this bull market has turned stronger on positive cues. Both the expectation of a rate decrease by the Fed in September and the soft landing forecast for the US economy remain unchanged. This will provide this bull market support on a worldwide scale. The decline in the US 10-year bond yield to 4.17% and the drop in Brent crude to $81.2 are other supporting factors.”

Dr. Vijayakumar also highlighted the shift in investor behavior, noting, “In a departure from recent trends, both FIIs and DIIs turned buyers last Friday, resulting in a total buying of ₹5,320 crores, pushing the market sharply up. DIIs, which were sitting on cash waiting for clarity on tax proposals in the Budget, have started deploying funds, particularly in quality large caps, which explains the sharp rally in the Nifty.”

Discussing the outlook, he added, “In the current scenario, the market will likely ignore valuation concerns and march ahead. ICICI Bank has posted good Q1 numbers. However, the market is largely ignoring the positive results of banking stocks due to fears of potential margin compression caused by slow growth in deposits.”

This bullish trend in the Indian stock market reflects broader positive sentiments and strategic investor decisions amidst evolving global economic conditions.

Budget 2024: Top Performing And Struggling Sectors In The Stock Market

July 24, 2024, 10:36 am

Domestic brokerage firm Emkay Global has praised the Union Budget 2024, describing it as ‘solid’ and emphasizing its policy continuity and commitment to fiscal consolidation. The firm noted that the budget maintained the fiscal consolidation path and continued to focus on capital expenditure.

The brokerage mentioned that a minor hike in capital gains tax is not significant, while the introduction of direct incentives for employment is a substantial measure. Regarding the stock market, Emkay Global expressed caution, stating, “The stock market is vulnerable at these valuations and could correct in the short term. Our favored sectors are FMCG, IT, and consumer durables, while we remain negative on industrials and financials.”

Emkay Global also pointed out that the upcoming earnings season might be lackluster, with moderate topline growth and diminishing margin benefits. The firm added that rate cuts are at least 1-2 quarters away and noted that valuations are stretched at 21.4 times the 1-year forward P/E of Nifty, with no imminent upgrades.

The brokerage noted that the increase in Long-Term Capital Gains (LTCG) and Short-Term Capital Gains (STCG) taxes has been minimal and is not a major concern, though the tax on buybacks could negatively impact payouts. It also observed that the increase in Securities Transaction Tax (STT) on derivatives is minor. “Overall, the increase in taxes on capital markets has not been severe and is unlikely to affect market valuations materially,” it added.

Emkay Global sees potential growth for retail, Non-Banking Financial Companies (NBFCs), and Microfinance Institutions (MFIs). The firm explained, “Half the windfall gain from the RBI dividend was diverted to revenue expenditure, with transfers to states being the most prominent expenditure head. We see both as positive and addressing the K-shaped post-Covid recovery. Our positive stance on FMCG and two-wheelers is reinforced by these moves.”

Additionally, Emkay Global highlighted two budget positives: the jewelry sector, which will benefit from a cut in gold import duties, and battery manufacturers, who are likely to gain from lower import duties on critical metals.

“Capital market participants were hit by the CGT and STT hikes, but the impact is negligible. There was a relief rally in some stocks, as there were expectations of more severe measures, especially on derivatives trading,” the firm concluded.

Budget 2024: Gold Shines With Import Duty Cuts, Middle Class Rejoices With Tax Relief

July 23, 2024, 2:09 pm

Finance Minister Nirmala Sitharaman, in her Union Budget 2024 speech on Tuesday, announced significant cuts in import duties on gold and silver. This move is aimed at enhancing domestic value addition in gold and precious metal jewelry.

Key Announcements

Gold and Silver Import Duty Cut

The import duties on gold and silver have been reduced from 15% to 6%. “To enhance domestic value addition in gold and precious metal jewelry, I propose to reduce customs duties of gold and silver to 6%,” Sitharaman said in her Lok Sabha speech.

Impact on the Stock Market

Following the announcement, shares of gold and jewelry retailers surged on the stock market:

Senco Gold: Increased by 6.16% to trade at ₹1,000.80 per share.
Rajesh Exports: Rose by 5.49% to ₹313.90 per share.
PC Jewelers: Jumped 5% to ₹74.16 per share.
Titan Company: Climbed 3.66% to ₹3,371.65 per share.
Tribhuvana’s Bhimji Zaveri: Rose 2.79% to ₹140.20 per share.
Kalyan Jewelers India: Gained 1.54% to ₹537.05 per share.

Other Budget 2024 Announcements

Steel and Copper

Sitharaman also announced changes to customs duties on key raw materials:

Removal of basic customs duty on ferro nickel and blister copper.
Continued nil BCD on ferrous scrap and nickel cathode.
Concessional BCD of 2.5% on copper scrap.

Relief for the Middle Class

The biggest relief in Budget 2024 came for the middle class with the following changes:

Standard Deduction: Increased by 50% to ₹75,000.
Tax Slabs: Adjusted under the new income tax regime, allowing salaried employees to save up to ₹17,500 annually.
Family Pension: Deduction for pensioners increased from ₹15,000 to ₹25,000.

Conclusion

The 2024 Budget brought significant changes to import duties and provided relief to the middle class. These measures are expected to boost the domestic market and provide financial relief to a broad segment of the population.

For more updates on Budget 2024 and its impact, stay tuned to our website.

Stock Market Tumble After Growth Forecast By Economic Survey

July 22, 2024, 4:58 pm

On Monday, benchmark stock market indices displayed significant volatility following the release of the Economic Survey, which presented a conservative economic growth forecast for the financial year 2024-25. This led to selling pressure and marginal dips by the end of the trading session.

The NSE Nifty 50 index closed down by 21.65 points at 24,509 points, while the BSE Sensex dropped 102 points to settle at 80,502 points. Sector-wise performance saw losses in Nifty Realty, Nifty Consumer Durables, and Nifty Private Bank, whereas Nifty PSU Bank and Nifty Pharma recorded gains.

Vinod Nair, Head of Research at Geojit Financial Services, commented, “The conservative economic growth forecast for FY25, presented in the economic survey, has introduced some spikes in volatility ahead of the budget. Additionally, the below-estimated Q1 results from certain index heavyweights like RIL have fueled apprehensions of a slowdown in earnings growth for FY25. Although the budget is anticipated to be favorable, investors will closely monitor whether it continues to drive traction, given high valuations and the risk of an earnings downgrade.”

Reliance Industries shares fell by over 3.4 percent to Rs 3004, reacting to the company’s financial results announced on Friday. The top gainers on the Nifty 50 included NTPC, Grasim Industries, UltraTech Cements, HDFC Bank, and Power Grid Corporation. Meanwhile, major losers were Wipro, Kotak Mahindra Bank, Reliance Industries, SBI Life Insurance, and ITC.

Investors were also attentive to significant geopolitical developments, such as U.S. President Joe Biden’s decision to withdraw from the presidential race and endorse Vice President Kamala Harris, which influenced market sentiment.

According to market experts, several factors could impact the stock markets throughout the week. Finance Minister Nirmala Sitharaman is expected to present the Union Budget in Parliament on Tuesday. In the U.S., key economic data, including the Personal Consumption Expenditures (PCE) inflation index and the Q2 GDP estimate, are set to be released this week, providing insights ahead of the Federal Reserve’s July meeting.

Zomato’s Deepinder Goyal Becomes Billionaire After Blinkit’s Growth Boosts Zomato Shares

July 15, 2024, 1:50 pm

Zomato’s co-founder and CEO Deepinder Goyal has become a billionaire after Zomato shares surged over 300% since last year, reaching a current market cap of ₹1.8 lakh crore, Moneycontrol reported. Goyal, 41, is now India’s richest professional manager with his net worth surpassing ₹8,300 crore.

Who is Deepinder Goyal and How Was Zomato Founded?

Deepinder Goyal, who comes from a middle-class background, co-founded Zomato in 2008, initially calling it ‘Foodiebay.’ He started the company with Pankaj Chaddah while they were both analysts at Bain & Company. Both Goyal and Chaddah are graduates of IIT Delhi, with Goyal specializing in Mathematics and Computing.

Foodiebay quickly became the largest restaurant directory in Delhi-NCR within nine months and was renamed Zomato two years later. The company attracted investments from Info Edge India, Sequoia, Vy Capital, Singapore-based Temasek, and Alibaba’s Ant Financial.

Zomato became a unicorn in the financial year 2018-19 after a $200 million investment from Ant Financial. That same year, Pankaj Chaddah left the company. Today, Goyal holds 3.95 crore shares in Zomato, representing a 4.24% stake in the company, which also owns quick commerce giant Blinkit.

Why Has Zomato’s Share Price Grown So Much?

The significant rise of Blinkit has been a major factor in Zomato’s share price rally. According to Moneycontrol, a recent Goldman Sachs note highlighted that Blinkit now has a higher implied value than Zomato’s core food delivery business. Blinkit is currently valued at $13 billion. Zomato acquired Blinkit in 2022 for $568 million, having already owned about 10% of the company since the year before. Blinkit is now growing faster than competitors like Swiggy’s Instamart and Zepto.

Zomato’s share prices hit an all-time high of ₹232 on the Bombay Stock Exchange after the company announced a platform fee hike of ₹6 per order in markets like Delhi and Bangalore, as reported by the Economic Times. As of July 15 at 11:45 A.M, Zomato shares are trading at ₹227.75, a 2.38% growth from the previous day.

Stock Market Opens At Record High: Sensex Rises 300 Points, Nifty Tops 24,300

July 4, 2024, 11:04 am

The S&P BSE 30 share index had a strong opening at around 80,300 today (July 4). The Sensex had briefly surpassed this mark in the previous session on July 3. This marks the shortest span of about 138 sessions for the Sensex to cross this milestone, driven by supportive global data and the progress of the monsoon in the country.

Stock Performance Today

Within the Sensex, ICICI Bank, HCL Tech, and M&M opened up to 1.5% higher, while HDFC Bank, HUL, and IndusInd Bank saw declines of up to 1.3%. The Nifty IT index gained 1%, with Coforge and Persistent Systems both posting gains exceeding 2%. Nifty Auto, Metals, and Realty indices each gained over 0.5%. Kaya’s shares surged 10% following its announcement of a collaboration with Marico for handling sales and marketing of Kaya’s personal care products. Conversely, shares of ITD Cementation dropped 6.7% due to a potential promoter stake sale.

Global Markets

Asian stocks reached 27-month highs as softer US data reduced the likelihood of a rate cut in September. Japan’s Nikkei rose 0.4% and neared its March peak, while the broader Topix reached all-time highs. S&P 500 futures and Nasdaq futures remained steady after hitting record levels overnight.

Oil prices declined in early trading following weaker-than-expected US employment and business activity data. Brent crude futures fell by 30 cents, or 0.34%, to $87.04 a barrel, while US West Texas Intermediate (WTI) crude futures dropped 32 cents, or 0.38%, to $83.56 by 0030 GMT.

Rupee Performance Today

The rupee fell by 5 paisa to 83.54 against the US dollar in early trade. In the previous session, the Indian rupee had closed marginally weaker due to dollar demand from local corporates and state-run banks, influenced by the weakness in Asian currencies.

Stock Market Today: BSE Sensex Tops 80,000; Nifty50 Hits New Lifetime High

July 3, 2024, 10:07 am

In a notable surge, the BSE Sensex and Nifty50, India’s key equity benchmark indices, reached historic highs during today’s trading session. The 30-share Sensex surpassed the monumental 80,000 mark for the first time, while the Nifty50 also set a new peak at 24,292.

As of 9:22 AM, the BSE Sensex was trading at 79,935.12, marking a gain of 494 points or 0.62%. Similarly, the Nifty50 stood at 24,257.60, up by 134 points or 0.75%. This remarkable performance follows a recent bout of profit booking on Tuesday, as the Nifty briefly exceeded the 24,200 level.

Market analysts from Motilal Oswal Financial Services anticipate continued upward momentum, suggesting consolidation at elevated levels. Factors influencing future trends include upcoming remarks by Federal Reserve Chairman Powell and the release of meeting minutes, likely to introduce volatility.

According to Nagaraj Shetti of HDFC Securities, the Nifty’s long-term chart remains robust, foreseeing a potential resumption of upward momentum post-consolidation. Key technical levels indicate immediate support at 23,980, with resistance expected around 24,400.

Internationally, global markets exhibited mixed signals: S&P 500 and Nasdaq 100 futures showed minimal movement, while Hang Seng futures climbed 0.5%, Japan’s Topix rose 0.2%, Australia’s S&P/ASX 200 increased by 0.3%, and Euro Stoxx 50 futures saw a 0.3% rise. In the forex market, major currencies like the euro, Japanese yen, offshore yuan, and Australian dollar maintained stability against the US dollar.

The ongoing developments in both domestic and international markets are poised to influence investor sentiment and trading patterns as the session progresses.

Budget 2024: Stock Market Behavior Pre And Post Budgets Since 2000

July 1, 2024, 5:24 pm

Before the Union Budget announcement this year, anticipated to be presented by Finance Minister Nirmala Sitharaman this month, an analysis of market trends reveals that investors typically decrease their investments one week prior to the budget and resume investing one week after Budget day. This market behavior has been observed since 2000, according to a report by Capitalmind cited in the Economic Times.

It said, “Market behaviour one week before and one week after Budgets are interesting mirror-images of each other as investors seem to reduce exposure due to uncertainty up to Budget day, negative 63% of the time, followed by re-entering once the uncertainty recedes after the event, positive 62% of the time.”

Capitalmind’s Anoop Vijaykumar said, “What our study implies is that while there tends to be significant volatility leading up to and immediately after the budget brd on expectations, the longer term is driven by the underlying fundamentals of corporate earnings growth. Long-term investors should avoid making significant equity allocation decisions brd on expectations or announcements made in the Budget.”

The study also highlighted that Union Budgets do not reliably predict annual returns.

“In the 2003 Union Budget, the NDA government prioritised reducing the deficit by introducing new taxes, including state-level VAT and service tax. The CNX500, the broad market index of the top 500 companies in India, ended the day up 0.5%. A month later, the index was down 6%. A year later, the market had doubled,” he said.

According to the report, the highest return on Budget day was 4.1% observed on February 1, 2021, while the lowest return was recorded at -5.4% on July 6, 2009.

BSE Sensex Starts Strong: Up 200 Points, Nifty 50 Above 23,550 in Today’s Market

June 25, 2024, 3:25 pm

Today, the Indian stock market saw a positive opening as both the BSE Sensex and Nifty50 began in the green on Tuesday. The BSE Sensex surged by 200 points, reaching above 77,500, while the Nifty50 climbed past the 23,550 mark. As of 9:21 AM, the Sensex was trading at 77,523.37, marking a gain of 182 points or 0.24%, and the Nifty50 stood at 23,583.15, up by 45 points or 0.19%. Despite starting off slow, the domestic market managed to close Monday with modest gains. Analysts are predicting potential volatility ahead due to the monthly derivatives expiry week.

Siddhartha Khemka, Head of Retail Research at Motilal Oswal, highlighted, “This week, market movements will hinge on global macroeconomic indicators and the progress of monsoon in India. We anticipate the Nifty to stabilize amidst some volatility during the derivatives expiry.”

According to Nagaraj Shetti from HDFC Securities, “In the short term, Nifty’s outlook remains optimistic despite fluctuations. After rebounding from around 23,300 levels, there’s a chance for Nifty to test the upper range of 23,650-23,700 soon, with immediate support seen at 23,350.”

In the US, the stock market closed with mixed results as the Dow Jones Industrial Average hit a one-month high, contrasting with the Nasdaq’s decline of over 1%. This shift was driven by investors moving away from AI-related stocks and reallocating investments amid expectations of potential interest rate cuts by the Federal Reserve later this year. Asian markets, on the other hand, showed resilience, edging higher despite a varied performance on Wall Street, fueled by speculations of a slowdown in the tech sector rally.

Meanwhile, oil prices remained stable on Tuesday despite concerns surrounding China’s economic recovery and geopolitical tensions stemming from Ukrainian attacks on Russian refineries.

Several stocks, including Balrampur Chini Mills, PEL, Chambal Fertilisers, Indus Tower, PNB, SAIL, GNFC, and Granules, are currently in the F&O ban period in the Indian market.

Foreign portfolio investors continued to be net sellers for the second consecutive day, with net sales amounting to Rs 653 crore on Monday. Concurrently, domestic institutional investors also divested shares worth Rs 820 crore.

Overall, the net long position of Foreign Institutional Investors (FIIs) increased from Rs 73,991 crore on Friday to Rs 1.01 lakh crore on Monday, indicating their sustained interest in the Indian equity market.

Stock Market Begins Its Day With Green, Bank Nifty Stands Tall

June 25, 2024, 11:40 am

The domestic Stock market started its day with green on Tuesday, with Sensex opening standing at 77507.32, which was up by 166.24 points.

While Nifty opened at 41.55 points, which was up by 23579.40. Nifty companies also displayed 44 posted advances and 5 posted declines. Bank Nifty has acquired over 200 points to a new all-time high.

In the start of the hour, indices of the sector such as banks, Auto, Financial services, Media, Metal, and Pharma started its day with green at National Stock Exchange. Also, the stocks of Ultratech Cement, HDFC Bank, and SBI made huge gains.

But other sectors such as FMCG, IT and Realty began its day with Red. However, as a whole, the market sentiments is cautious, with technical indications hinting at potential upward moves. Unless their key resistance is breached and maintains supportive stance at lower level.

Earlier on June 24, the BSE sensex reported a fall of 346.25 points. Which stood at 76,863.65. As a result, the BSE sensex declined by 0.45 per cent.

The NSE Nifty 50 reported the drop by 99.75 points. Thus, standing at 23,401.35. Thus, declining by 0.42 per cent.

Overall, the market sentiments are cautious with technical indications, which hints that market might climb high, if huge resistance levels are broken. But at lower level, the market is generally cautious.

June 17 Bank Holiday: Closure for Bakra-Eid Across India; Check Affected Services

June 15, 2024, 6:18 pm

According to the Reserve Bank of India’s holiday calendar for 2024, most commercial banks, including both public and private sectors, will be closed on Monday, June 17, for Bakrid (Eid al-Adha). However, online banking services such as net banking, mobile banking, and UPI will remain operational. The closure will impact services like cash deposits, withdrawals, and check clearance.

Bank Schedule:

Saturday, June 15: Most banks will be open with all services available. However, banks in Aizawl and Bhubaneswar may be closed due to local holidays.
Sunday, June 16: Regular holiday.
Monday, June 17: All banks across the country will be closed for Bakrid.
Tuesday, June 18: Additional Bakrid holiday for banks in Jammu and Srinagar only.

Please note that this schedule is general and there may be regional variations. It is advisable to check with your local bank branch for confirmation. Plan your banking transactions accordingly to avoid inconvenience during the holiday period.

Stock Market Closure:

The New York Stock Exchange and the Bahrain Stock Exchange will also be closed on Monday, June 17, for Bakrid. According to the BSE website, the Equity Sector, Equity Derivatives Sector, and SLB Sector will be closed on June 17 as well. The Indian stock market will resume trading on June 18, as per the BSE and NSE website.