Volatility will remain because of tightening liquidity, uncertainty on earnings growth, say market experts
In a Q&A, Prateek Agrawal, who is also the firm's CIO, says given the strength in overall earnings as seen in FY24 EPS outlook, the direction of the market is likely to be positive
Markets have been falling for five straight sessions and the BSE benchmark has tumbled 2,771.92 points, or 4.97%, during this period
CLOSING BELL :: The S&P BSE Sensex opened gap-down and sunk 1,386 points intra-day to hit a low of 52,702 levels
In Q4FY22, the bank's standalone net profit dropped 66 per cent YoY to Rs 201 crore as the bank set aside Rs Rs 325 crore on account of a fraud.
From this year's peak in January, both indices are down nearly 12 per cent
Lack of fresh positive cues is forcing investors to dump equities and switch to safer havens like gold, says an expert
In the primary market, Venus Pipes & Tubes IPO was subscribed 2 times on Day 1 of the offer period; Delhivery IPO was off to a slow start.
Hindustan Unilever and Asian Paints gained the most at 3.24 per cent and 2.5 per cent, respectively
The BSE Midcap and Smallcap indices ended with heavy losses of over 2 per cent each. Debutant Rainbow Children's Medicare ended a steep discount of 17 per cent to its issue price.
Indian equity mutual funds have lured billions of dollars in inflows over the last couple of years amid a retail-investing boom
European and Asian equities traded weak on concerns around world economic growth amid surging inflation, monetary tightening, and a slowdown in China's export
The broader markets ended with deeper losses, with both the BSE Midcap and Smallcap indices down over 1.5 per cent each; the breadth too at 2:1 was in favour of the bears.
The Midcap and Smallcap indices declined over 2 per cent each; The breadth too favoured the bears in 3:1 ratio.
Record-high inflation levels, dented prospects of corporate profitability and likelihood of contraction in economic growth continue to batter equities.
CLOSING BELL: Around 3:30 PM, the mega IPO of Life Insurance Corporation (LIC) was subscribed 91 per cent with policyholders' quota seeing a subscription of 2.79 times
Monetary policy response will help preserve macro-financial stability, says RBI governor as he announces benchmark rate hike
Meanwhile, the mega LIC IPO was off to a steady start, with policyholder and employee segment receiving strong response on Day 1 of the offer period.
CLOSING BELL: IndusInd Bank, NTPC, Tata Steel, HDFC, PowerGrid, and ITC were the major gainers
Rising inflation has forced central banks, including the US Fed, to hike rates to tame inflation.