Delhi: Global trends, WPI inflation data for April and the ongoing quarterly earnings of corporates would be the major driving factors for the stock markets, analysts said.Investors would also keep a tab on the movement of foreign institutional investors who are on a selling spree in the domestic equity market for the past many days."Inflation concern and monetary tightening across the globe are key concerns for the equity markets."Equity markets are under the strong grip of bears however they look extremely oversold and due for a pullback rally."The sell-off in the US market, especially in tech stocks, was very severe and there is some stability in the last two trading sessions that may provide some respite to the bulls," said Santosh Meena, Head of Research, Swastika Investmart Ltd.Meena said there are no major cues for this week therefore direction of global cues will be important, however some stock-specific movement will continue amid the tail-end of Q4 earnings."On the domestic front, listing of LIC IPO will be a key sentimental trigger for the Indian equity market."FIIs are selling relentlessly whereas DIIs are trying to compensate for their selling therefore their behaviours will also play an important role in the direction of the market."Movement of the dollar index, crude oil prices, and&nbsp;direction of rupee will be other important factors," he added.Investors would also watch out for WPI inflation data for April which would be announced on Tuesday, analysts said.Shrikant Chouhan, head of equity research (retail), Kotak Securities, said, "Rising bond yields, high inflation levels and monetary policy tightening action by central banks globally will weigh on near term sentiments which could keep markets volatile."Stock-specific action will continue due to ongoing result season."Bharti Airtel, DLF, IOC, ITC, IDFC, JK Tyre &amp; Industries and NTPC are among the companies that will announce their financial results this week.Last week, the Sensex lost 2,041.96 points or 3.72 per cent, while the Nifty plunged 629.10 points or 3.83 per cent.Lingering concerns over weakening rupee, global interest rate hikes, elevated inflation numbers and lockdowns in China kept the markets on the edge last week, said Vinod Nair, head of research at Geojit Financial Services.Going ahead, the major determinant for market direction would be the pace of decline in inflation in response to the Fed measures, he added.—PTI

Global trends, WPI inflation data for April and the ongoing quarterly earnings of corporates would be the major driving factors for the stock markets, analysts said.

Factors that will drive markets this week

Delhi: Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging 1,154.78 points in early trade. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment. The broader NSE Nifty tumbled 335.65 points to 15,904.65.From the Sensex firms, Tech Mahindra, Bajaj Finserv, Infosys, Wipro, Tata Steel, HCL Technologies, Bajaj Finance and State Bank of India were the major laggards in early trade. ITC emerged as the only gainer from the 30-share pack. Asian markets in Seoul, Shanghai, Hong Kong and Tokyo were also trading lower. Stock exchanges in the US had ended significantly lower on Wednesday. "US markets saw the worst sell-off since June 2020 as inflation fear looms," said Mohit Nigam, Head - PMS, Hem Securities. Meanwhile, international oil benchmark Brent crude gained 1.61 per cent to $110.87 per barrel. Foreign institutional investors continued to offload shares worth Rs 1,254.64 crore on Wednesday, as per stock exchange data. The BSE benchmark settled 109.94 points or 0.20 per cent lower at 54,208.53 on Wednesday. The NSE Nifty dipped 19 points or 0.12 per cent to finish at 16,240.30."Deteriorating macro sentiments such as soaring inflation, recession fears, and the prospect of the Federal Reserve getting even more hawkish will continue to keep benchmarks on the edge."Another main reason for the pessimism can be attributed to relentless selling from the FII camp," said Prashanth Tapse, vice president (research), Mehta Equities Ltd.—PTI

Equity benchmarks fell sharply on Thursday in line with an extremely weak trend in the global markets, with the Sensex plunging 1,154.78 points in early trade. Persistent foreign fund outflows and a spurt in crude oil prices also dampened sentiment.

Sensex dives 1,155 points in early trade amid weak global markets

New Delhi: Indian markets are the best way to learn about the country's rich culture. A typical 'bazaar' in India is defined by street vendors, overcrowded shopping alleys, delicious street food that can overwhelm our senses, and chaos. Many of these bazaars have been around for a long time.Here are some historic shopping destinations that are still popular with locals: Chor Bazaar, Mumbai: The market is well-known for selling used goods, as the name implies. According to legend, the violin of Queen Victoria once went missing and was later discovered in the Chor Bazaar (Thieves Market). This is the origin of the market's name. The market is well-known for selling vintage items, Victorian furniture, automobile replacement parts, and so on. Johari Bazaar, Jaipur: It is Jaipur's largest jewellery market, located around the Hawa Mahal. It is well-known for its traditional Rajasthani jewellery. Exquisite jewellery made of gold, silver, emeralds, and diamonds can be purchased, as well as 'Kundan jewellery' created in a unique way. Historically, women from royal families purchased jewellery from this market.Chandni Chowk, Delhi: Emperor Shah Jahan built Delhi's heritage market, Chandni Chowk, in the 17th century. Princess Jahanara, his favourite daughter, designed it. From the Lahori Gate of the Red Fort to Fatehpuri Masjid, Chandni Chowk runs through the heart of the walled city. It is the most crowded market, with shops selling everything: authentic food, fabrics, footwear, paper, brass, copper, jewellery, kitchen equipment, and home furnishings. Mahidharpura Diamond Market, Surat: Surat is well-known for its diamond cutting and polishing industry. Millions of diamonds are traded on the street in this market. Surat's diamond jewellery industry imports rough uncut diamonds and transforms them into the dazzling brilliance for which diamonds are adored all over the world.Attar bazaar of Kannauj is known as the "Perfume City" because it is home to the country's largest perfumery. It is well-known for producing 'attar,' a fragrant essential oil (often derived from roses), as well as sandalwood oil. These aromatic oils have powerful healing properties. Sardar Market, Jodhpur: The Sardar Market, located next to the Nai Sadak, is famous for everything traditional Rajasthanis want in their homes: Bandhej sarees, mojris, handicrafts, and textiles.—IANS&nbsp;

Indian markets are the best way to learn about the country's rich culture. A typical 'bazaar' in India is defined by street vendors, overcrowded shopping alleys, delicious street food that can overwhelm our senses, and chaos. Many of these bazaars have been around for a long time.

 6 Old Traditional Markets in India

Delhi: Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks. The 30-share BSE Sensex rallied 1,534.16 points or 2.91 per cent to settle at 54,326.39. During the day, it zoomed 1,604.2 points or 3.03 per cent to 54,396.43. The broader NSE Nifty jumped 456.75 points or 2.89 per cent to finish at 16,266.15.All the Sensex firms ended in the green, with Dr Reddy's, Reliance Industries, Tata Steel, Nestle, Larsen &amp; Toubro, Axis Bank, IndusInd Bank, Sun Pharma, State Bank of India and HDFC emerging as the biggest gainers. The BSE benchmark had dived 1,416.30 points or 2.61 per cent to settle at 52,792.23 on Thursday. The NSE Nifty had tanked 430.90 points or 2.65 per cent to end at 15,809.40. Meanwhile, Asian markets in Hong Kong, Shanghai, Seoul and Tokyo finished in the green. Equity exchanges in Europe were also trading with significant gains in the afternoon session.Stock markets in the US had ended lower on Thursday. International oil benchmark Brent crude dipped 0.11 per cent to $111.9 per barrel. Foreign institutional investors offloaded shares worth a net Rs 4,899.92 crore on Thursday, as per stock exchange data.—PTI

Equity benchmarks bounced back sharply on Friday after facing a heavy drubbing in the previous trade, with the Sensex and Nifty jumping nearly 3 per cent, aided by positive trends from global markets and across-the-board buying. Index majors Reliance Industries and HDFC twins saw robust buying, helping the benchmarks.

Markets rebound; Sensex, Nifty rally almost 3%

New Delhi: Riding on intense retail investors' interest and a sharp rally in equity markets, asset management companies (AMCs) launched 176 new fund offerings (NFOs) in 2021-22, garnering a whopping Rs 1.08 lakh crore. With liquidity tightening, interest rates on the rise, stock market consolidation in progress, return to work from office, there could be subdued interest in NFOs going forward. While fixed maturity plans (FMPs) category could see considerable launches, the same cannot be expected from other categories, Gopal Kavalireddi, Head of Research at FYERS, said.Also, almost all AMCs have launched new schemes across most categories, thereby fillings the earlier existing product gaps that was created post-recategorization, he said.''Gaps in investment objectives, interest of investor in specific themes, availability of funds for deployment, credibility and reputation of fund managers, and performance of stock markets could dictate the quantum of new launches,'' he added. According to the data compiled by Morningstar India, there were 176 new fund offers (including closed-end funds and ETFs) in 2021-22. These managed to collect a staggering Rs 1,07,896 crore during their inception stage.This was way higher than 84 NFOs floated in 2020-21 and cumulatively, these funds were able to mobilize Rs 42,038 crore. Usually, NFOs come during a surging market when investor sentiment is high and optimistic. The stock market along with the positive investor sentiments kept surging post-March 2020, leading to the launch of higher number of NFOs. The NFOs were floated to capitalise on the mood of investors and attract their investment as they were willing to invest at that time. Coincidentally, over the same period, the Indian capital markets Sebi along with Association of Mutual Funds of India (AMFI) brought in considerable investor-friendly changes which included exit-load removal, entry-load capping, categorization and reorganization of mutual fund schemes, direct plans, risk-o-meter, addition of new category, Flexicap, and other policies, thus ensuing investor awareness and bringing about clarity and transparency in investments.With the need to improve income levels, and also with a view of long-term investing, along with measures taken by Sebi and Amfi resulted in a flurry of NFOs across many categories of mutual funds-- equity and debt alike, Kavalireddi said. Most of the schemes were launched in the index and ETF category, to support both - passive and active investors. The maximum number of funds (49) were launched in the index fund segment, which amassed Rs 10,629 crore, followed by other ETFs (34), which collected Rs 7,619 crore and fixed-term plans (32), which mobilised Rs 5,751 crore.In addition, investors were attracted to international funds and sectoral or thematic funds. The AMCs launched overseas funds of funds, which mopped up Rs 5,218 crore and 11 sectoral or thematic funds, which raised Rs 9,127 crore. Experts believe that the dominance of index funds and ETFs (exchange-traded funds) within NFOs is not surprising, owing to a couple of factors.The ongoing financial year 2022-23 saw the launch of only four NFOs, garnering a total of Rs 3,307 crore, with ICICI Prudential Housing Opportunities Fund taking in the lion's share of Rs 3,159 crore. Further the latest ban by Sebi on NFOs will delay the launch of around 15 schemes, as the market regulator is focused on streamlining the issue of pool accounts, upgrading technology at AMCs, two-factor authentication among others to avoid potential frauds besides minimising operational risk, Kavalireddi said. Also, the latest issue of front running of stocks in Axis Mutual Fund has given rise to issues of trust and credibility of fund houses and their respective fund managers, he added. In April, Sebi had barred the launch of new mutual fund schemes till July 1.—PTI

Riding on intense retail investors' interest and a sharp rally in equity markets, asset management companies (AMCs) launched 176 new fund offerings (NFOs) in 2021-22, garnering a whopping Rs 1.08 lakh crore.

MFs collect Rs 1.08 lakh cr via 176 NFOs on retail investors' interest

Mumbai:&nbsp;The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.At the interbank foreign exchange, the rupee opened weak at 77.56 against the American dollar, then turned volatile to trade in a tight range of 77.56 to 77.51. The domestic unit was trading at 77.56 against the greenback, registering a fall of just 1 paisa over the last close. In the previous session, the rupee had settled at 77.55 against the American currency. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.19 per cent higher at 102.27. On the domestic equity market front, the 30-share Sensex was trading 59.07 points or 0.11 per cent lower at 54,229.54 points while the broader NSE Nifty slipped 28.15 points or 0.17 per cent to 16,186.55 points. Global oil benchmark Brent crude futures slipped 0.61 per cent to USD 112.73 per barrel. Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 1,951.17 crore, as per stock exchange data.On Monday, RBI Governor Shaktikanta Das hinted at another interest rate hike in early June to bring down the stubbornly high inflation rate. The next meeting of the Monetary Policy Committee (MPC) is scheduled for June 6-8.—PTI

The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.

Rupee almost flat against US dollar in early trade

The rupee started the session on a flat note against the US dollar on Tuesday amid a lacklustre trend in the domestic equity markets and persistent foreign capital outflows.



New Delhi: Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices. The 30-share BSE Sensex opened strong and gained momentum as the session progressed, but came under severe selling pressure in afternoon trade to close 37.78 points or 0.07 per cent lower at 54,288.61.On similar lines, the broader NSE Nifty slipped 51.45 points or 0.32 per cent to end at 16,214.70. Metal stocks took a knock after the government on Saturday hiked the tax on export of iron ores and concentrates to 50 per cent, and imposed a duty of 45 per cent on iron pellets in a bid to increase their domestic availability and curb soaring steel prices. Tata Steel was the biggest loser in the Sensex pack, plummeting 12.53 per cent, followed by UltraTech Cement, ITC, PowerGrid, HDFC, HDFC Bank, HCL Tech and Reliance Industries.In contrast, M&amp;M, Maruti, HUL, Larsen &amp; Toubro, Asian Paints, Kotak Mahindra Bank and Wipro were among the gainers, climbing as much as 4.14 per cent."Nifty once again gave up the intra day gains and ended in the negative."Metals stocks sold off post the levy of export duties over the weekend on iron ore and some steel intermediates," said Deepak Jasani, Head of Retail Research, HDFC Securities."After a firm start, markets failed to hold on to their early upsurge and simply lost track to end marginally lower. Metal stocks bore the brunt...," said Shrikant Chouhan, head of Equity Research (Retail), Kotak Securities Ltd.Among BSE sectoral indices, metal plunged 8.33 per cent, followed by basic materials (4.08 per cent), oil and gas (1.74 per cent) and energy (1.47 per cent).In contrast, auto jumped 1.90 per cent, capital goods 0.91 per cent, IT 0.79 per cent and consumer discretionary goods and services 0.78 per cent.In the broader market, the BSE smallcap declined 0.64 per cent and midcap slipped 0.26 per cent.Global stocks were mixed, with Asian markets in Shanghai, Seoul and Tokyo ending higher, while Hong Kong settled in the red.Equity exchanges in Europe were trading mostly higher in the afternoon session.International oil benchmark Brent crude gained 1.15 per cent to $113.8 per barrel. Rupee recovered from record lows and settled 15 paise higher at 77.55 (provisional) against the US dollar on Monday, supported by a weak greenback overseas.Continuing their selling spree, foreign institutional investors offloaded shares worth Rs 1,265.41 crore on Friday, as per stock exchange data.—PTI

Equity indices frittered away a good start to close with modest losses on Monday, pressured by heavy selling in metal stocks after the government imposed export duties on steel-making raw materials to curb soaring prices.

Markets surrender early gains as metal stocks crack

New Delhi: The rupee appreciated 12 paise to 77.46 against the US dollar in opening trade on Monday, supported by a fall in the dollar index and positive domestic equities. At the interbank foreign exchange, the rupee opened at 77.53 against the American dollar, then gained further ground to quote 77.46, registering a rise of 12 paise from the last close. On Friday, the rupee had settled at 77.58 against the US dollar.Global oil benchmark Brent crude futures surged 0.54 per cent to $120.08 per barrel. The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.11 per cent lower at 101.55. According to Sriram Iyer, Senior Research Analyst at Reliance Securities, the Indian rupee could trade in a narrow range against the dollar this Monday, as a fall in the dollar index could offset losses from strong crude oil prices.Asian currencies were stronger and could aid sentiments while emerging market peers were weak, Iyer said. On the domestic equity market front, the 30-share Sensex was trading 885.17 points or 1.61 per cent higher at 55,769.83, while the broader NSE Nifty advanced 261.80 points or 1.6 per cent to 16,614.25. Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 1,943.10 crore, as per stock exchange data.—PTI

The rupee appreciated 12 paise to 77.46 against the US dollar in opening trade on Monday, supported by a fall in the dollar index and positive domestic equities.

Rupee surges 11 paise to 77.47 against US dollar in early trade

Mumbai: Equity benchmarks declined on Tuesday after a three-day rally, with the Sensex falling 359.33 points amid selling in index majors HDFC, Reliance Industries and Infosys. Investors were cautious ahead of release of GDP data, while a jump in crude oil prices also weighed on market sentiment, traders said. The 30-share BSE Sensex went lower by 359.33 points or 0.64 per cent to settle at 55,566.41. During the day, it tanked 556.6 points or 0.99 per cent to 55,369.14. The broader NSE Nifty declined 76.85 points or 0.46 per cent to end at 16,584.55.From the Sensex pack, Kotak Mahindra Bank, Sun Pharma, HDFC, Infosys, State Bank of India, Axis Bank, Reliance Industries and HDFC Bank were the major laggards.In contrast, M&amp;M, NTPC, Power Grid, Tech Mahindra and Tata Steel were among the gainers.Elsewhere in Asia, markets in Seoul, Shanghai and Hong Kong settled with gains, while Tokyo ended marginally lower. Markets in Europe were trading mostly lower during the afternoon trade.Stock markets in the US were closed for a holiday on Monday. Meanwhile, international oil benchmark Brent crude jumped 1.64 per cent to USD 123.66 per barrel.Foreign institutional investors turned net buyers as they bought shares worth Rs 502.08 crore on Monday, as per stock exchange data."Domestic market failed to hold on to recovery mode as it was awaiting the release of GDP data. A hike in oil prices due to the EU's ban on Russian oil imports would act as a headwind in taming global inflation. Changes in policy by central banks would be a major factor to be monitored in the coming days," said Vinod Nair, Head of Research at Geojit Financial Services.—PTI

Equity benchmarks declined on Tuesday after a three-day rally, with the Sensex falling 359.33 points amid selling in index majors HDFC, Reliance Industries and Infosys.

Markets halt 3-day rally; Sensex falls 359 pts

New Delhi: Gold in the national capital on Thursday jumped Rs 434 to Rs 50,887 per 10 grams, supported by rally in the yellow metal prices in the international markets along with rupee depreciation, according to HDFC securities.In the previous trade, the precious metal finished at Rs 50,453 per 10 grams.Silver also rallied by Rs 918 to Rs 61,776 per kg from Rs 60,858 per kg in the previous trade.The rupee depreciated by 10 paise to close at 77.60 (provisional) against the US dollar on Thursday.In the international market, gold was trading higher at USD 1,852 per ounce and silver also traded marginally up at USD 22 per ounce."Gold prices traded firm with spot gold prices at COMEX trading 0.32 per cent up at USD 1,852 per ounce on Thursday. Gold prices traded up witnessing recovery on weaker dollar," said Tapan Patel, Senior Analyst (Commodities) at HDFC securities.—PTI

Gold in the national capital on Thursday jumped Rs 434 to Rs 50,887 per 10 grams, supported by rally in the yellow metal prices in the international markets along with rupee depreciation, according to HDFC securities.

Gold jumps Rs 434; silver rallies by Rs 918

Mumbai: &nbsp;A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower.The 30-share BSE Sensex, which traded in the green for most part of the day, came under selling pressure towards the end to close 48.88 points or 0.09 per cent lower at 55,769.23. During the day, it hit a high of 56,432.65 and a low of 55,719.36.The broader NSE Nifty also gave up intra-day gains and dipped 43.70 points or 0.26 per cent to finish at 16,584.30.From the Sensex pack, UltraTech Cement, Maruti, NTPC, Bajaj Finserv, IndusInd Bank, Axis Bank and M&amp;M were the major laggards.In contrast, Reliance Industries, Infosys, Larsen &amp; Toubro, HCL Technologies, Sun Pharma, Wipro, TCS and Hindustan Unilever Limited were among the gainers.Elsewhere in Asia, bourses in Seoul and Tokyo ended in the green. Chinese markets were closed for a holiday.Markets in Europe were trading mostly higher during afternoon trade. Wall Street had ended sharply higher on Thursday.Meanwhile, international oil benchmark Brent crude declined 0.66 per cent to USD 116.8 per barrel.Foreign institutional investors offloaded shares worth a net Rs 451.82 crore on Thursday, according to stock exchange data.—PTI

 A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower.

Markets succumb to fag-end sell-off; Sensex drops 49 pts

 A fag-end sell-off dragged down benchmark indices in a choppy session on Friday, with the Sensex settling 49 points lower.



New Delhi: The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said. Markets have been witnessing a rebound recently.However, the move lacks decisiveness amid lingering challenges like global policy tightening due to soaring inflation and geopolitical tensions, they added."RBI policy, global macro numbers and crude oil prices will set the trend for this week. "Outcome of RBI policy will be announced on 8th of June and it will be important to listen to RBI commentary as a rate hike is imminent. "IIP data will be released on 10th May after market hours."On the global front, US jobless claim on Thursday and CPI numbers on Friday will be important for the direction of global markets," said Santosh Meena, Head of Research, Swastika Investmart Ltd.Crude oil is continuing its northward journey and if it does not cool off, then it may hurt sentiment of markets.FIIs are still in selling mode, though the momentum has slowed down a bit.However, there is a risk of further selling if the rupee weakens due to a rally in crude oil prices, he added.Last week, the BSE Sensex advanced 884.57 points or 1.61 per cent."With earnings season behind us, focus would be on the upcoming MPC's monetary policy review meet, which is scheduled during June 6-8."Markets have already priced in another hike citing sticky inflation."However, focus would be on commentary amid updates of a favourable monsoon."Besides, performance of global markets and movement in crude will also be in focus. "On the macroeconomic front, participants will be eyeing IIP data on June 10," said Ajit Mishra, VP - Research, Religare Broking Ltd.Yesha Shah, Head of Equity Research, Samco Securities, said inflation being a key factor will be the central point of all discussions this week as China and US inflation data will be released, apart from RBI's policy meeting. "Markets are likely to remain in a broader range as we continue to monitor global cues, including geopolitical developments, crude oil price movement as well as institutional flows."RBI's monetary policy meeting this week will be a key event that will be tracked by investors," said Siddharth Khemka, Head - Retail Research, Motilal Oswal Financial Services Ltd.—PTI

The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said.

2 key drivers for markets this week

The RBI's policy decision would be the major event driving trading sentiment in the equity market this week, while global cues, foreign funds movement and crude oil prices will be the other key factors to watch out for, analysts said.



Mumbai: Indian stock markets' key indices, Sensex and Nifty, opened with minor cuts on Monday amid subdued global sentiment. The 30 stock S&amp;P BSE Sensex was trading 184.97 points or 0.33 per cent down at 55,584.26 points at 10:00 am The broader Nifty 50 of the National Stock Exchange was trading 57.60 points or 0.35 per cent down at 16,526.70 points. NTPC Limited rose 1.35 per cent to Rs 157.10. Mahindra &amp; Mahindra rose 0.76 per cent to Rs 1,036.50.Reliance Industries Limited, Axis Bank, and UltraTech Cement were among the major Sensex gainers. Bajaj Finserv Ltd, Asian Paints, Wipro, Tech Mahindra, and Hindustan Unilever were among the major Sensex losers. None of the 30 scrips that are part of the Sensex closed in the positive. Among the Nifty-50 shares, Tech Mahindra, Bharat Petroleum, Bajaj Finserv Ltd, Wipro and Britannia Industries were the top laggards. Oil and Natural Gas Corporation was trading at 154.35, up by 1.81 points at 10:00 am, whereas Cipla was up by 1.30 points at 973.45.—ANI

Indian stock markets' key indices, Sensex and Nifty, opened with minor cuts on Monday amid subdued global sentiment.

Sensex down by 185 points, Nifty sheds 58 points

Islamabad: Pakistan's Defence Minister Khawaja Asif has suggested taking advantage of "365 days of sunshine" and operating markets in the daytime as opposed to the convention of "opening markets at 1pm and closing them at 1 a.m.", as policymakers seek solutions to conserve energy amid an acute crisis."Our markets open at 1 p.m. and close at 1 a.m. This (practice) is found nowhere in the world," Asif tweeted late Saturday night. "God has given our country 365 days of sunshine and yet we turn on the lights in the dark to do business."If markets set the right business hours then, with Karachi excluded, 3,500MW of electricity can be saved, Dawn news quoted the Minister as saying."Tough circumstances call for tough decisions," he added.His suggestion came after Prime Minister Shehbaz Sharif held a marathon five-hour meeting earlier on Saturday to come up with an "emergency plan" aimed at reducing power cuts that have roiled the country amid reported shortfalls of 7000 MW, Dawn news reported. In the meeting, the premier dire�cted relevant authorities to come up with a plan to curtail loadshedding within 24 hours.The meeting was called to discuss the issue of loadshedding in the country and problems being faced by citizens in general and the business community in particular. Federal ministers and high level officials were in attendance. The meeting took place amid reports about hours-long loadshedding in various parts of the country, leaving the people to suffer in high temperatures.Due to the difference in supply and demand, unannounced loadshedding of eight hours is being carried out in different parts of the country, reports The Express Tribune.Moreover, in areas with line losses found to be high, the duration of loadshedding has reached 12 hours.Furthermore, the country has been facing an extreme heatwave since last month and temperatures up to 50 degrees Celsius has been recorded in some parts of Pakistan.—IANS

Pakistan's Defence Minister Khawaja Asif has suggested taking advantage of "365 days of sunshine" and operating markets in the daytime as opposed to the convention of "opening markets at 1pm and closing them at 1 a.m.", as policymakers seek solutions to conserve energy amid an acute crisis.

Pak Def Minister suggests operating markets in the day amid acute power crisis

New Delhi: Gold prices eased by Rs 60 to Rs 52,811 per 10 grams in the national capital on Wednesday in line with losses in the precious metal in the global markets, according to HDFC Securities. The precious metal had closed at Rs 52,871 per 10 grams in the previous trade. Silver declined by Rs 575 to Rs 58,985 per kg from Rs 59,560 per kg in the previous trade. The rupee appreciated by 11 paise to 79.52 against the US dollar in afternoon trade on Wednesday on easing crude oil prices and foreign fund inflows. In the international market, gold was quoting lower at USD 1,789 per ounce while silver was flat at USD 20.35 per ounce. "Gold prices traded weak with spot gold prices at COMEX trading at USD 1,789 per ounce on Wednesday," said Tapan Patel, Senior Analyst (Commodities) at HDFC Securities. —PTI

Gold prices eased by Rs 60 to Rs 52,811 per 10 grams in the national capital on Wednesday in line with losses in the precious metal in the global markets, according to HDFC Securities

Gold prices fall by Rs 60, silver declines Rs 575

Pauri (Uttarakhand): Amid the ongoing turbulence across the state over the Ankita Bhandari murder case, the local market was shut on Sunday as the locals showed solidarity.
The development came ahead of Ankita's funeral in Garhwal, Srinagar.
Traders of Srinagar kept their business establishments wholly closed. They also demanded capital punishment for the culprits.
Earlier, the family of the deceased refused to perform the last rites as they demanded the handing over of the post-mortem report.
The administration on another hand tried convincing Ankita's family.
"We won't conduct her last rites until her post-mortem report is given. We saw in her provisional report that she was beaten up and thrown in a river. But we're awaiting the final report," said Ajay Singh Bhandari, brother of Ankita Bhandari.
The SIT on Sunday told ANI that her Whatsapp chats were also being probed.
As per reports a WhatsApp chat has come to the fore in the investigation. According to police sources, in this chat, Ankita is telling her friend that the owner of the resort is pressuring her to provide 'extra service' to the guests. There is a lot of anger among people after the murder of the receptionist.
The SIT in charge of Ankita Bhandari's murder case, DIG PR Devi, told ANI that Ankita's WhatsApp chats that have surfaced are also being probed.
As per a viral chat, it is alleged that it was being said that the guest would get 'extra service' for Rs 10,000. In the WhatsApp chat, there is talk of providing 'extra service' in the name of providing spa treatment at the Vanatara Resort.
Earlier, the Special Investigation Team in the Ankita Bhandari case also confirmed that every employee of the Vantara resort would be called to the police station.
The statements of these employees would be recorded, the officials said. "We have called every employee in the resort to the police station; we will take everyone's statements. We're running a full background analysis on the resort," said DIG PR Devi, SIT In-charge. —ANI

Amid the ongoing turbulence across the state over the Ankita Bhandari murder case, the local market was shut on Sunday as the locals showed solidarity.

Ankita Bhandari Case: Locals Show Solidarity, Keep Markets Closed Ahead Of Funeral

Chennai (The Hawk): The Sensex of the BSE and the Nifty of the NSE both reached record highs on Tuesday as the Indian stock markets erupted for the second day in a row.
After starting the day at 62,362.08 points and touching a low of 62,362.08 points throughout the day, the Sensex of the BSE reached a record high of 62,877.73 points on Monday.
On Monday, the Sensex reached an all-time high of 62,701.40 points before closing at 62,504.80 points.
The Sensex has increased by 323.21 points to 62,828.01 points.
The Nifty began at 18,552.45 points on the NSE after closing at 18,562.75 points the previous day.
The Nifty then surged to a high of 18,659.75 points and a low of 18,552.15 points.
(Inputs from Agencies)

The Sensex of the BSE and the Nifty of the NSE both reached record highs on Tuesday as the Indian stock markets erupted for the second day in a row.

On Tuesday, Indian stock markets reached fresh highs

New Delhi (The Hawk): The Enforcement Directorate (ED) reported on Wednesday that it had searched the locations of four well-known jewellers in Kerala and had taken possession of 5.058 kg of gold, valued at Rs 2.51 crore.
The investigation agency searched Malabar Jewellery (Malappuram), Fine Gold (Malappuram), Atlas Gold Super Markets Pvt Ltd (Kozhikode), and Aboobacker Pazhedath's residence (Malappuram).
A hidden chamber used to store gold jewellery was discovered during searches, leading to the recovery and seizure of 5.058 kg of gold jewellery valued Rs 2.51 crore and Rs 3.79 lakh in cash.
In response to the seizure of 30.245 kg of smuggled gold by Customs (Preventive) at Thiruvananthapuram International Airport, which was disguised as diplomatic luggage of UAE Consulate, Thiruvananthapuram, the ED filed the case on the basis of a FIR registered by National Investigation Agency (NIA), Kochi, under sections 16, 17 and 18 of Unlawful Activities (Prevention) Act.
Sandeep Nair, Swapna Prabha Suresh, and Sarith P.S., the three accused, were detained by the economic intelligence agency in 2020.
Additionally, a prosecution complaint was made against the three in 2020.
A deeper look into the matter showed that M. Sivasankar, IAS, the former Principal Secretary to the Chief Minister of Kerala, had also helped the accused smuggle gold and pass off proceeds of crime as clean assets. As a result, Sivasankar was also detained by the ED on and charged as an additional accused.
In 2020, a Supplementary Prosecution Complaint was submitted against the defendants, including Sivasankar.
During the ongoing inquiry into the discovery of illegal gold by Customs, it was discovered that Sarith had sent his cousin Akhil S. Rs 14.98 lakh to retain in safe custody.
Aboobaker Pazhedath of Malappuram is a member of the Gold Smuggling Syndicate, which is supported by Sivasankar, IAS, and is commanded by Sarith, Swapna, and Nair, according to a subsequent money laundering probe. One of the beneficiaries was Pazhedath.
The Promoter of Malabar Jewellery &amp; Fine Gold Jewellery, both of which are situated in Malappuram, Kerala, and one of the shareholders of Atlas Gold Super Markets Pvt. Ltd., Kozhikode, Kerala, Pazhedath, was the owner of 3 kg of the smuggled gold that the Customs recovered. Aboobacker Pazedath stated during his PMLA test that the 3 kg of gold that Customs had recovered was his, and he also acknowledged that he had previously smuggled 6 kg of gold through the diplomatic luggage of the UAE Consulate.
"The money for purchasing the aforementioned illegally obtained gold was raised through his companies, Malabar Jewellery, Fine Gold, and Atlas Gold Super Markets Pvt. Ltd. Discreet investigations also indicated that Pazhedath continued to engage in linked activities to gold smuggling through his aforementioned enterprises, according to the ED.
Investigations into the situation are still ongoing.
(Inputs from Agencies)

The Enforcement Directorate (ED) reported on Wednesday that it had searched the locations of four well-known jewellers in Kerala and had taken possession of 5.058 kg of gold, valued at Rs 2.51 crore.

Gold smuggling case: ED searches Kerala, seizes 2.5 cr gold

Mumbai: With gains on just two of the three trading sessions, they could do so much and no more. BSESENSEX gained 360.81 points or 0.60 per cent to close at 60,261.18 points. NSENIFTY gained 97.15 points or 0.54 per cent to close at 17,956.60 points. The broader markets saw BSE100, BSE200 and BSE500 gain 0.5 per cent, 0.5 per cent and 0.49 per cent respectively. BSEMIDCAP was up 0.02 per cent while BSESMALLCAP was up 0.26 per cent.
The Indian Rupee had a strong showing during the week and gained Rs 1.40 or 1.69 per cent to close at Rs 81.32 to the US Dollar. Dow Jones lost on the opening day of the week and then gained on the four remaining days consecutively. Dow ended the week up 672 points or 2 per cent to close at 34,302.61 points.
It's interesting to note that FPI's have been sellers on every day of the current year. They have sold over the ten sessions that have happened. Their total sales have not been very high, but they have sold shares worth Rs 17,400 crore on a net basis. Domestic institutions flush with domestic flows and SIP's bought stock worth Rs 12,800 crore.
Sankranti, the Indian festival which coincides with Lohri and Pongal of the north and south, has been celebrated over the weekend all over the country. Readers would recall it is the popular kite-flying festival and the entire Gujarat would spend the weekend on their terraces, flying kites.
It was expected that the fortnight ahead would see a spate of public issues happening. Unfortunately, it appears that the same is not the case. No reported filings of updated DRHPs have been heard. Hence it could be presumed that the second fortnight of January could be a cold one as far as primary market issuances are concerned. For the record, of the nine listings since December 1, 2022, six are trading at a discount to the issue price while three are trading above the issue price. Not too good for record purposes and IPO market.
TCS (NS:TCS) declared its October-December quarter results. Its net profit was at Rs 10,846 crore against Rs 9,769 crore in the year ago quarter. Revenues grew at 19.1 per cent to clock Rs 58,229 crore against Rs 48,885 crore. EBIT margin was lower by 50 basis points at 24.5 per cent. The company declared a dividend of Rs 8 for the quarter and a special dividend of Rs 67. Though the street felt that the results were a tad below expectation, share prices fell only during the day to bounce back. At the end of the period under review, they closed at Rs 3,374.20, a gain of Rs 162.20 or 5.04 per cent against previous Friday's close of Rs 3,212.
Besides TCS, Infosys (NS:INFY), HCL and Wipro (NS:WIPR) declared results from the IT pack during the week. There is some amount of pressure on the margins being witnessed but new order wins are there. Growth seems to have moderated but continues at a pace which seems fair. Concerns in the IT space which were raised about a slowdown seem to have come unfounded as of now. IT being an important sector for India and a big export earner has done reasonably well for itself. Interest rates on fixed deposits are moving up. The way one gets marketing calls or on a visit to the bank the push being made for fixed deposits gives an indication that money is becoming tighter and interest rates are set to rise. This could be true at least for the deposit side. Once deposit rates rise, lending rates rise as well, as the job of the bank is to earn a differential on the money handled. Expect the impact to be significant as rates continue to harden.
The Union Budget is now virtually round the corner with a mere 11 trading sessions to go before the same is presented on February 1. Parliament session begins on January 31 when the Economic survey would be presented. If there is to be a pre-budget rally it's now or never. With markets having sustained the mid-week selling last week, it could be fair to assume that the momentum for the rally to begin is in place. FPI are sellers but they have not pushed the market to sell. While in relative terms, valuations in India are not cheap compared to other emerging markets, there is an opportunity for growth as well.
The lifetime highs were made on December 1, 2022. These were at levels of 63,583 on BSESENSEX and 18,887 on NIFTY. The next two lower tops were made on December 14 at 62,835 and 18,632 points respectively. The third and final one was made last week on January 3 at 61,343 and 18,265 points. It is very important that if there is to be a pre-budget rally, this level is to be crossed at the bare minimum. Markets have gone down to the lows or around the lows but not broken them. They remain at 59,625-59,675 on BSESENSEX and at 17,760-17,795 on NIFTY. Over the last six trading sessions, these levels have been tested three times. It's now or never.
If markets are to turn weak in the immediate short-term these levels would break on the down side and we would see selling pressure. If, however, markets turn positive, we would see these levels being held and markets crossing the levels of 61,343 and 18,265 early next week. The strategy would be to wait for levels to be breached in either direction. There would be swift movement thereafter.
My gut feel says that this time the trend could be upwards with global cues also supporting the market trend. Dow after a long time has gained on four consecutive trading sessions and has been supported by Nasdaq as well. In India, the IT results have been supportive and markets have not taken the numbers from four top IT companies, in any negative manner. With a number of positives on hand, it's the best time to push the pedal for the bulls.
Expect markets to rally in the immediate short-term. —IANS

With gains on just two of the three trading sessions, they could do so much and no more. BSESENSEX gained 360.81 points or 0.60 per cent to close at 60,261.18 points.

Will Markets Rally Pre-Budget Now

Mumbai: The Indian stock market opened on a high note on Wednesday, with the Sensex rising by 440 points in the first hour of trading thanks to optimistic signals from overseas.
The majority of Asian markets were up today, led by Japan and Hong Kong.
On Tuesday, both the US and European stock markets closed with gains, encouraged by the latest US inflation data that suggested price pressure may be lessening.—Inputs from Agencies

The Indian stock market opened on a high note on Wednesday, with the Sensex rising by 440 points in the first hour of trading thanks to optimistic signals from overseas.

The Hawk

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