Business Samachar

Sensex at new High,    What fuels the Market?  Posted by : NILESH WAGHELA Mumbai: Stock market with full bullish mood kept rally continue for third session.  FIi buying is the key reason for this rally. Let's check what expert stamps the reasons.  IT and auto stocks helped India's benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment. The Nifty 50 rose as much as 1.21% to hit an all-time high of 19,201.70, before closing at 19,189.05. The S&P BSE Sensex also gained 1.26% to settle at a fresh record of 64,718.56. The Nifty 50 has risen over 10.5% in the three months ended June 30, its best performance since the September quarter of 2021. The benchmark also logged its best week in over 11 months and extended gains for the fourth month in a row. Analysts cited strong foreign inflows, cooling inflation, and steady corporate earnings growth as key reasons for ...

  Nifty at record high but why global brokerage firm remains cautious?  Posted by: NILESH WAGHELA  MumbaI: Despite Nifty crossing the 19,000 mark for the first time with $10 billion in foreign institutional investor inflows, global brokerage firm CLSA remains cautious on Indian equities. Nifty on Wednesday zoomed past its December 1 record high level in style to cross the 19,000 mark for the first time. Global brokerage firm CLSA, which had taken a 40% underweight stance on Indian equities in November 2022, said there are five reasons why it isn't changing its mood. "We remain cautious for now, given exceedingly rich valuations, margin erosion depleting India’s relative profitability, consensus EPS growth expectations remaining too  optimistic (certainly versus the delivered track record), the RBI likely lagging EM central banks in the timing and scale of policy easing, and our econometric model signalling the market is 14% overbought," CLSA said in a report. Accordi...

Sensex, Nifty end at new record high Posted by Nilesh Waghela Mumbai: Benchmark index Nifty 50 hit a fresh all-time high of 19,003.20 on Wednesday, surpassing the 18,887.6 level the benchmark index hit on 1 December, 2022. Nifty 50 took 142 trading sessions to achieve the record.  Sensex hit an all-time high of 64,012.16 as well after hitting a high last week at 63,601.71. Year to date, Nifty 50 has risen around 800 points from 18,197 to achieve this level.  Over the past three months, the index has surged over 2,000 points and maintained its upward momentum from the low of 16,828 it hit earlier this year, surging 12.4%.  The top gainers on the Nifty 50 index currently are Adani Enterprises, Adani Ports & SEZ, Eicher Motors and Titan, with Adani Enterprises up over 4%. “NSE Nifty 50 moved up smartly following a doji formation on the daily chart. The short-term trend looks green from here, on the upside, the index might witness a rally towards 19,000. On the lower end,...

  Amazon to invest an additional $15 bn in India over the next 7 years This will take Amazon's total India investment across all businesses to $26 billion POSTED BY NILESH WAGHELA Mumbai: Amazon is upping its investment in India by committing an additional $15 billion in the country over the next 7 years. This will take Amazon's total India investment across all businesses to $26 billion. The announcement came as Amazon CEO Andy Jassy met Indian Prime Minister Narendra Modi in the US. In a tweet, Jassy said, “Discussed Amazon’s commitment to invest $26B in India by 2030; working together we will support startups, create jobs, enable exports, and empower individuals and small businesses to compete globally.” According to the Amazon.in blog post, Amazon has pledged to digitise 10 million small businesses, enable $20 billion in exports, and create 2 million jobs in India by 2025. Currently, Amazon India has already digitised over 6.2 million small businesses, enabled over $7 billi...

STOCK MARKET: WHERE IS NSE NIFTY HEADED?  POSTED BY: NILESH WAGHELA Mumbai: Benchmark indices NSE Nifty 50 and BSE Sensex ended Friday’s session deeply in red. The Nifty 50 sank 105.75 points or 0.56% to 18,665.50 and Sensex tanked 259.52 points or 0.41% to 62,979.37. In sectoral indices, Bank Nifty fell 101.95 points or 0.23% to 43,622.90, Nifty Auto tumbled 1.03%, Nifty IT sank 0.89%, Nifty Metal plunged 2.48% and Nifty PSU Bank declined 1.18%. The top gainers on Nifty 50 were IndusInd Bank, Dr Reddy’s Laboratories, Asian Paints, Bharti Airtel and NTPC while the losers were Adani Enterprises, Adani Ports, BPCL, Hindalco and Divis Laboratories. “Global central banks are currently focused on addressing inflation and have reiterated their commitment to reaching their target levels, as evidenced by the hawkish commentary from Powell and the unexpected rate hike by the Bank of England. The downward revision of earnings guidance by a major US tech company Accenture has raised concerns ...

  "Pretty Errors," A wealth of positivity POSTED BY NILESH WAGHELA Mumbai: Palak Doshi's book of poems, "Pretty Errors," is a source of strength that encourages readers to face life's challenges with courage. Doshi's words provide a powerful perspective on love, hope, and healing, resonating deeply with readers. In "Pretty Errors," Doshi shares an ideology that urges readers to fearlessly confront the unexpected twists and turns of life. Her poems offer gentle guidance through the complexities of emotions and relationships. Doshi invites us to explore our vulnerabilities and embrace our imperfections as part of being human. Love takes center stage in the collection, depicted in all its different forms. Doshi skillfully captures the highs and lows of love, providing an honest portrayal of this universal emotion. Her heartfelt verses allow readers to experience the joy, pain, and transformative power of love firsthand. Through her words, Doshi re...

Stock-specific action and global cues will be the key market movers today FIIs sell equities worth Rs 1,030.90 crore on Monday DIIs sell Rs 365.20-crore worth of equities on Monday Oil prices slip marginally in early trade SGX Nifty is suggesting a lower opening for domestic indices for a second straight day on Tuesday. At 7:15 AM, the index was 45 points down at 18,829. Stock-specific action and global cues will be the key market movers today. In Asia, markets lacked firm direction owing to nil cues from Wall Street, which was shut on Monday on account of Juneteenth holiday.  Mainland Chinese markets were mixed following the rate cut announcement wherein China's one-year and five-year loan prime rate have been slashed by 10 basis points. The Shanghai Composite was down 0.22 per cent, while the Shenzhen Component gained 0.24 per cent.  In Australia, the S&P/ASX 200 climbed 0.32 per cent, while Japan's Nikkei, too, reversed losses to edge 0.17 per cent higher. South Korea...