Wednesday, February 5

Tag: Indian stock market

‘Prosperity ladder’: Inside the ‘coming of age’ year for India’s $585 billion mutual funds industry
28Dec By adminNo Comments
Business

‘Prosperity ladder’: Inside the ‘coming of age’ year for India’s $585 billion mutual funds industry

A record surge in assets under management. More than 20 million new investment accounts added. And a planned return by BlackRock Inc the world’s largest money manager.These are some of the milestones that mark what’s set to be a blockbuster year for India’s mutual funds industry. Powered by an insatiable thirst for financial gains, millions of young Indians armed with smartphones have taken to equity investments in the world’s most-populous nation.That’s helped boost fund assets by 19% in the first 11 months of 2023, data from Morningstar Inc show, beating major peers like the US, Japan and China.As the unforeseen gift of a pandemic-led boom in retail investing keeps on giving, and India’s $4.1 trillion equity market continues to grow — benchmark indexes are poised to cap a record eighth ...
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Market momentum may continue in 2024; FPI money will continue to pour into India, says Ajit Banerjee
25Dec By adminNo Comments
Money

Market momentum may continue in 2024; FPI money will continue to pour into India, says Ajit Banerjee

Indian markets have been one of the best-performing markets in the world in 2023. In an interview with Mint, Ajit Banerjee, Chief Investment Officer of Shriram Life Insurance Company says he is positive about the domestic market for 2024 and expects the foreign capital inflow to continue. Edited excerpts: What is your view on the market's performance in 2023? What is the outlook for 2024?Indian markets have undisputedly been one of the best-performing markets in the world in the calendar year 2023 (CY23). Over the ...
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BSE Sensex scales new peak; closes above 71,000 with 970 points rally, Nifty50 above 21,450
15Dec By adminNo Comments
Business

BSE Sensex scales new peak; closes above 71,000 with 970 points rally, Nifty50 above 21,450

BSE Sensex & Nifty50 scale new peaks! Continuing their record breaking rally, the Indian markets on Friday closed the day at all time record highs. While BSE Sensex closed at 71,483, up 970 points, Nifty50 was at 21,456, up over 270 points. Sensex hit an intraday high of 71,605 with a 1,000 point rally and Nifty50 hit a high of 21,492. Both the Indian equity benchmark indices rallied over 1% The stock market rally has come on the back of a dovish stance by the US Federal Reserve, which has signalled around three rate cuts in the coming years.The combined market value of all BSE-listed companies surged by Rs 2.76 lakh crore on Friday, marking an overall increase of Rs 8.55 lakh crore for the week, reaching Rs 357.78 lakh crore.Among the Sensex constituents, HCL Tech, TCS, and Infosys w...
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Indian markets hit historic $4 trn market cap milestone for the first time
29Nov By adminNo Comments
Business

Indian markets hit historic $4 trn market cap milestone for the first time

Indian markets on Wednesday hit the historic $4 trillion market cap milestone for the first time. Currently, there are only three countries in the $4-trillion-plus mcap club--US, China and Japan. Hong Kong too, is part of the club. However, a large contribution is on account of companies belonging elsewhere, mainly China. Market value of all BSE-listed companies currently is at a record high of Rs 333 trillion, translating into $4 trillion.   With a market cap of almost $48 trillion US is by-far the world's largest equity market. Followed by China ($9.7 trillion) and Japan ($6 trillion).   According to Bloomberg data, India’s market cap has risen nearly 15 per cent so far this calendar year, even as China’s has seen a 5 per cent erosion in its market cap. The U...
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Red opening marks a challenging start for Indian stock market amidst global headwinds
20Oct By adminNo Comments
Business

Red opening marks a challenging start for Indian stock market amidst global headwinds

MUMBAI: The stock market faced a daunting challenge as it opened in the red on Friday, failing to sustain the initial optimism and slipping into negative territory.The benchmark Sensex was down by 182.36 points, opening at 65,446.88, while the Nifty dropped 59.60 points, initiating the day at 19,566.80.At the time of market opening, there were 17 advances and 33 declines among the Nifty companies. Bajaj Auto, LITMindtree, Hero Motocorp, Nestle India, and Ultra Cement emerged as the top gainers, providing some relief amid the overall negative sentiment.Conversely, Wipro, Tech Mahindra, Sun Pharma, NTPC, and UPL were the top losers, struggling to find footing in the early trading hours.Varun Aggarwal, founder and managing director, Profit Idea, said, "Head winds from west and tensions over ...
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Sensex, Nifty log best week in over two months
8Sep By adminNo Comments
Business

Sensex, Nifty log best week in over two months

BENGALURU: Indian shares rose to a six-week high on Friday, led by gains in energy stocks, to log their best week in over two months, diverging from muted global markets.The Nifty 50 index ended up 0.47% at 19,819.95, while the S&P BSE Sensex rose 0.5% to 66,599.The benchmarks recorded their second straight week of gains and posted their best week since the week ending June 30, gaining nearly 2%, each.Stocks stabilised after a near week of easing, with the MSCI All Country stock index flat."We feel selective buying across sectors is fuelling the prevailing positivity across the board, with all sectors contributing on a rotational basis," said Ajit Mishra, senior vice president for technical research at Religare Broking.The blue-chip Nifty 50 and Sensex indexes recovered around 3% from...
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Asian indices slide; China Services PMI eases in August
5Sep By adminNo Comments
Business

Asian indices slide; China Services PMI eases in August

Stock market LIVE updates: Stock-specific action will sway the market moves on Tuesday amid lack of directional cues. Investors, however, will take note of the Services PMI data, which is scheduled to be released today, for the month of August. ...Read MoreFirst Published: Sep 05 2023 | 7:54 AM IST
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Sensex up 250 pts, Nifty above 19,500 in pre-open deals
24Aug By adminNo Comments
Business

Sensex up 250 pts, Nifty above 19,500 in pre-open deals

Stock Market Updates LIVE: At 7:10 am, the Gift Nifty Futures rose 82-odd points to 19,512 levels versus Nifty Futures' Wednesday closeDomestic markets are eyeing a positive start amid firm global cues. At 7:10 am, the Gift Nifty Futures rose 82-odd points to 19,512 levels versus Nifty Futures' Wednesday close. ...Read MoreNo article available in this category.First Published: Aug 24 2023 | 7:21 AM IST
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