Nifty takes a leap, hits record 9,123 on BJP's poll success
PTI The BJP's landslide victory in UP and Uttarakhand worked wonders for the market as the Nifty hit an all-time high of 9,123 and the Sensex soared 616 points in opening trade today after a gush of capital inflows. What made mood more buoyant was better than expected industrial output numbers. IIP (index of industrial production) in January bounced back by expanding 2.7 per cent year-on-year. All sectoral indices led by bank, capital goods and realty were in the positive zone with gains up to 2.20 per cent. The 50-share NSE Nifty climbed 188.20 points, or 2.10 per cent, to record an all-time high of 9,122.75 intra-day, surpassing its previous corresponding figure of 9,119.20 on March 4, 2015. The 30-share Sensex ...
EPFO has invested Rs 9,723 cr in ETF's till Oct 31
The Dollar Business Bureau The government on Monday announced the Employees' Provident Fund Organisation (EPFO) has invested Rs.9,723 crore in exchange traded funds till October 31 this year, while the absolute returns till the same period stood at 9.17%. "The total corpus of EPFO was Rs 7.49 lakh crore as on March 31, 2016. The total amount invested by EPFO in ETFs is Rs 9,723 crore as on October 31, 2016 and the absolute return was 9.17 per cent as on October 31, 2016," Labour and Employment Minister Bandaru Dattatreya said replying to a question in the Lok Sabha. Dattatreya said EPFO's investment in exchange traded funds (ETFs) will be raised to 10% from its current level of 5% within the scope of ...
FIIs remain positive on Indian markets on recovery hopes: UBS
The Dollar Business Bureau Foreign Institutional Investors (FIIs) continue to be overweight on country’s markets on the hope of recovery in the second half of the current financial year and also on the long-term outlook of growth, according to a report of UBS. The meeting of UBS with more than 80 investors in the US, the EU and Asia during the last month revealed that almost all the FIIs remain overweight and positive on the Indian markets and seemed to be not concerned about rich valuations or about the 'overweight' position, it said.There are several factors which are responsible for this optimistic outlook of investors on Indian markets such as hopes of a recovery in growth in the second half of current fiscal; confidence ...
Sensex, Nifty ride high on firm global cues
The Dollar Business Bureau BSE Sensex and NSE Nifty ended the day on high on Friday, riding on an increased buying in frontline blue chip counters and positive global clues. Sensex settled 100.45 points up at 26,625.91, while Nifty index ended 29.45 points up at 8,170.20. Companies such as Bharti Airtel, HDFC, Power Grid, Tata Motors and Tata Motors DVR gained in the range of 1.64% - 3.27%. However, Bharti Infratel, Dr Reddy’s Labs, Sun Pharma, Tata Power and Tata Steel fell between 1.57% and 3.55%. On Thursday, the Sensex crashed more than 400 points, due to looming uncertainty over Brexit and the reduced economic growth forecast of the US by the Federal Reserve. However, investors continue to refrain from undertaking any financial activities amidst ...
Stocks fall worldwide on oil price drop
Stocks fell around the world on Wednesday, impacting majorly the Asian markets, as the price of crude declined on the news that the three-day strike by oil workers in Kuwait ended, suddenly leaving the markets directionless. As concerns about oversupply of oil in the market returned to the forefront, prices of Brent crude and US crude oil futures slumped. Reversing Tuesday’s sharp gains, Brent crude fell by $1.12 to $42.91 a barrel, whereas US crude oil was down $1.09 to $39.99. The concerns over Chinese economy also resurfaced as Shanghai Stock Exchange slid 3.8 percent, with almost all the sectors from telecoms to financials witnessing a slide. The depressing mood of the market also reflected due to 0.3 percent fall in S&P 500 EMINI ...
Indian stock markets tumble to 21-month low on heavy selling
Foreign portfolio investors (FPIs) sold shares net Rs.2,788.57 crores during the week as per the SEBI's record including the provisional figure of February 12 Source: PTI The RBI fixed the reference rate for the US dollar at 68.4365 and the euro at 77.3606 from last weekends level of 67.6365 and 75.7326, respectively. Markets continued to fall for the second conscutive week due to persistent selling from operators and investors on concerns over global economy and weak results from banks. Relentless selling in the stock market is coming from redemption pressures, margin calls, crude slumping to multi- year lows, depreciating rupee against dollar and disappointing earnings, said Gaurav Jain, Director of Hem Securities. Weak earnings from public and private sectors banks on account of higher ...
