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Staying with the RBI &ndash; India&rsquo;s central bank recently relocated 102 tonnes of gold from the Bank of England to facilities within India

News Wrap | Sensex, Nifty Slip A Day Before Diwali; Poll Indicates RBI Rate Cut In December

Staying with the RBI &ndash; India&rsquo;s central bank recently relocated 102 tonnes of gold from the Bank of England to facilities within India

Starting with Asian equity markets, most indices ended lower despite news that China may consider a 1.4 trillion dollar debt package to stimulate its economy over the next few years. The Shanghai Composite finished down six-tenths of a percent, and Hong Kong&rsquo;s Hang Seng slipped more than one and a half percent. In contrast, Japan&rsquo;s Nikkei rose by nearly one percent. The Bank of Japan kicked off its two-day policy meeting on Wednesday, with expectations it will keep key interest rates unchanged at 0.25 percent. "Back home, Indian equities closed in the red, unable to sustain the momentum from the previous two sessions. Both the Sensex and Nifty slipped by half a percent, with the Sensex closing below 80,000 and the Nifty just above 24,300. Of the fifty Nifty constituents, 19 advanced while 39 declined on Wednesday. Adani Enterprises led the gains, rising nearly four percent following strong second-quarter results, while Cipla was the biggest laggard, dropping four percent. The big news in telecom &ndash; According to a CNBC-TV18 report, the Department of Telecommunications has issued a draft cabinet note proposing a waiver of bank guarantees for spectrum acquired by telecom companies prior to 2022. This waiver has been a longstanding request from Vodafone Idea, which has been navigating significant financial challenges. Shifting focus to the economy &ndash; As signs emerge that India&rsquo;s growth may be entering a slower phase, economists anticipate a possible rate cut by the Reserve Bank of India. According to a Reuters poll of 57 economists, a narrow majority of 30 expect the central bank to lower its key rate by 25 basis points to 6.25 percent at its next policy meeting. The RBI&rsquo;s monetary policy panel is scheduled to meet from the fourth to the sixth of December. Staying with the RBI &ndash; India&rsquo;s central bank recently relocated 102 tonnes of gold from the Bank of England to facilities within India. With this shift, the gold reserves held domestically by the RBI have increased to 510.5 tonnes, while its overall gold holdings stand at 855 tonnes. Since September 2022, India has repatriated a total of 214 tonnes of gold, highlighting its preference for retaining more assets within its borders amid evolving global geopolitical dynamics. This strategic move by the RBI is seen as a hedge against uncertain times. With that, we wrap up this edition of The Business Hook News Wrap podcast. We'll be back next week with the next edition after a short Diwali holiday. Wishing you all a very Happy Diwali! And don&rsquo;t miss our Diwali Special episode of Invest Smart with Feroze Azeez of Anand Rathi Wealth Management, where he shares savvy investment ideas for a prosperous Samvat 2081.

Jio Payment Solutions, a wholly-owned subsidiary of Jio Financial Services, announced it has received the Reserve Bank of India approval to operate as an online payment aggregator

News Wrap | Sensex, Nifty Gain; Maruti Suzuki’s Q2 Woes; Senco Gold Tanks On Fake News

Jio Payment Solutions, a wholly-owned subsidiary of Jio Financial Services, announced it has received the Reserve Bank of India approval to operate as an online payment aggregator

Starting with Asian equity markets, most indices ended the day higher, following positive cues from Wall Street. Japan&rsquo;s Nikkei extended Monday&rsquo;s gains, adding almost one percent, with encouraging news for the economy. The nation&rsquo;s jobless rate declined from 2.5 percent in August to 2.4 percent in September. South Korea&rsquo;s Kospi and Hong Kong&rsquo;s Hang Seng also closed in the green. However, China&rsquo;s Shanghai Composite fell over one percent, bucking the regional trend. Back home, Indian equities started on a weak note but closed higher for the second straight session. The Sensex gained half a percent to end near 80,400, while the Nifty saw a similar increase, closing just below 24,500. Of the Nifty fifty stocks, 34 advanced, 18 declined, and one remained unchanged. Among the gainers, public sector lender SBI saw the highest jump at five percent, followed closely by Bharat Electronics, another PSU stock. Staying with stocks&mdash;auto major Maruti Suzuki was the top laggard on the Nifty on Tuesday, ending the session down by four percent. The automaker&rsquo;s shares fell after its second-quarter performance disappointed the market. Maruti&rsquo;s revenue remained nearly flat year-on-year at 37,200 crore rupees, while profit dropped by over 17 percent. The company&rsquo;s bottom line was impacted by a deferred tax expense of over 1,000 crore rupees and changes to long-term capital gains tax, including the withdrawal of indexation benefits. And now, let&rsquo;s talk about the dangerous impact of fake news&mdash;Kolkata-based jewellery chain Senco Gold saw its share price plummet by 19 percent on Dhanteras. The sell-off came as social media posts alleged that the company&rsquo;s promoters had been raided by an investigative agency. However, Senco promptly addressed the rumours, stating to the exchanges, 'We would like to clarify that the said news/messages are rumours and speculative in nature and we would like to categorically state that the information mentioned is inaccurate as no such event has taken place.' After this clarification, the stock recovered from the lows, ending the day down by four percent. Shifting focus - Jio Payment Solutions, a wholly-owned subsidiary of Jio Financial Services, announced it has received the Reserve Bank of India approval to operate as an online payment aggregator. Meanwhile, Jio Financial Services and American banking giant BlackRock also announced the incorporation of two joint ventures, Jio BlackRock Asset Management Private Limited and Jio BlackRock Trustee Private Limited, to undertake mutual fund operations. Following these developments, shares of Jio Financial Services closed up by nearly three percent.With that, it&rsquo;s a wrap on this edition of the Business Hook News Wrap podcast. We will be back tomorrow with the next edition of our podcast. Have a great evening and check out our YouTube channel Business Hook for the top business developments of the day.

More from the IPO space &ndash; Hero MotoCorp backed Electric two-wheeler maker Ather Energy is driving into the IPO lane

News Wrap | Sensex & Nifty Gain; Bajaj Housing Finance IPO Oversubscribed | September 9, 2024

More from the IPO space &ndash; Hero MotoCorp backed Electric two-wheeler maker Ather Energy is driving into the IPO lane

First, a quick roundup of Asian equities &ndash; It was a sea of red across Asian markets as investors reacted to weaker than expected consumer inflation data from China. The US jobs data disappointment also weighed on market sentiment. Hong Kong's Hang Seng led the losses, down almost a-percent-and-a-half. China's Shanghai Composite also slipped a percent while Japan's Nikkei closed in the red too. Turning to domestic markets - In India also the equity markets started the session on a weak note. However, there was a quick reversal from the lows, and markets ended the day higher. Both the Sensex and the Nifty gained almost half-a-percent each. The Sensex ended the day above 81,500 and the Nifty inched closer to 25,000. Staying with Dalal Street - Bajaj Housing Finance IPO opened on Monday to a robust response from investors. The IPO was oversubscribed on day one itself, with the quota for Non-Institutional Investors seeing the highest demand. Retail investors and shareholders also snapped up the shares, putting bids for more than what's on offer. The IPO is open till the eleventh of September. More from the IPO space &ndash; Hero MotoCorp backed Electric two-wheeler maker Ather Energy is driving into the IPO lane. The company on Monday filed preliminary papers with market regulator Sebi to raise funds through an IPO. The proposed share sale will see fresh issue of equity shares worth 3,100 crore rupees. Also, promoters and other investor shareholders will sell 2.2 crore equity shares through an offer for sale. The company will use the money to set up a two-wheeler factory in Maharashtra, and for R&amp;D, marketing, loan repayment and other corporate purposes. More from the auto sector &ndash; Road Transport and Highways Minister Nitin Gadkari has said that he has no objection to the government giving more subsidies to the electric vehicles sector. However, Gadkari added that he believes the costs of electric vehicles will align with those of petrol and diesel vehicles in the next two years, making additional financial incentives redundant. The minister was speaking at an event organised by the Automotive Component Manufacturers Association of India. With that, it's a wrap on this edition of the Business Hook News Wrap podcast.&nbsp;

Zomato surged five percent on Thursday, closing around 255 rupees per share

News Wrap | Sensex & Nifty Slip; RIL 1:1 Bonus Issue; Zomato & EaseMyTrip Surge | September 5, 2024

Zomato surged five percent on Thursday, closing around 255 rupees per share

Let's start with Asian equities &ndash; It was a mixed session for the Asian markets, with Japan&rsquo;s Nikkei leading the losses. Investors reacted to July cash earnings growth in Japan, which slowed to 3.6 percent, versus 4.5 percent growth in June. So, the Nikkei slipped over a percent in Thursday&rsquo;s trade. Korea&rsquo;s Kospi and Hong Kong&rsquo;s Hang Seng also ended the day lower, while China&rsquo;s Shanghai Composite was marginally higher. In India, it was mixed session on Dalal Street. Broader markets outperformed the benchmark indices. While the Sensex and the Nifty were down two-tenths of a percent each, the Nifty Midcap index ended the day higher. Of the fifty constituents of Nifty, 33 declined while 17 advanced. Titan was the star of the trade gaining more than three percent. Pharma giant Cipla was the biggest laggard, down almost a percent and a half. In stock specific action - Reliance Industries board has approved a one-is-to-one bonus issue. This means that if you hold one share of Reliance Industries on the record date fixed by the company, you will be eligible to receive an additional share for free. The record date for the bonus issues hasn&rsquo;t been decided yet and the company will make that announcement separately. Shares of RIL slipped around a percent, closing below 3,000 rupees apiece. On the other hand, Zomato surged five percent on Thursday, closing around 255 rupees per share. The company gained after brokerage firm JP Morgan raised its price target from 208 rupees to 340 rupees. That&rsquo;s the second highest price target for the food delivery aggregator, which also has a target of 333 rupees per share from CLSA. In its note, JP Morgan gave a thumbs up to Zomato&rsquo;s retail consumer transformation and retained the &lsquo;overweight&rsquo; tag for the stock. It's also been a busy day for India&rsquo;s electric vehicles sector &ndash; Highways and Road Transport Minister Nitin Gadkari on Thursday said that Indian EV manufacturers don&rsquo;t need further government support. Speaking at the Bloomberg NEF Summit in New Delhi, Gadkari said and I quote, &ldquo;I feel we do not need subsidy. In the beginning the cost was very high and we needed to encourage the people. So, the best way was that. Now, today the demand is increasing, volume has increased, cost is reducing.&rdquo; Government has been incentivising EV manufacturers through schemes such as FAME. Gadkari&rsquo;s comments have come just days after Heavy Industries Minister HD Kumaraswamy said that work on the next phase of FAME was in the final stage. Staying with EVs &ndash; Ola Electric&rsquo;s Bhavish Aggarwal has said that his company will soon launch it electric three-wheelers. Speaking to CNBC-TV18, Bhavish Aggarwal added that three-wheelers have been on the EV maker&rsquo;s radar from the beginning and the company has showcased some technology focus on this. He went on to say that Ola Electric;s manufacturing technology strength built in two-wheelers will be easily transferable to three-wheelers as and when the company chooses to bring out its products. Shares of Ola Electric snapped their six-day losing streak to end higher. More from the EV sector &ndash; shares of online travel company EaseMyTrip surged in trade as it announced its plan to manufacture electric buses. In a regulatory filing the company informed the stock exchanges that its board has approved the proposal to incorporate a wholly owned subsidiary for this. The company is now awaiting the government nod for its plans. Shares of EaseMyTrip surged ten percent on the news, closing at around 43 rupees. With that, it&rsquo;s a wrap on this edition of the Business Hook News Wrap podcast. We will be back tomorrow with more from the world of business and equities. You can also watch in-depth coverage of big business stories on the Business Hook YouTube channel.

In the startup space, OYO founder Ritesh Agarwal has invested 830 crore rupees into the company through his Singapore-based entity, Patient Capital

News Wrap | Sensex & Nifty Flat, Bharti's BT Group Deal, Adani-Hindenburg Row | 12.08.24

In the startup space, OYO founder Ritesh Agarwal has invested 830 crore rupees into the company through his Singapore-based entity, Patient Capital

Good evening, and welcome to Business Hook&rsquo;s daily news podcast, where we bring you a roundup of the day&rsquo;s top business stories. First, let&rsquo;s take a quick look at the Asian markets. After last week&rsquo;s roller-coaster ride, most Asian indices started the new week in the green. Korea&rsquo;s Kospi was up over one percent, while Japan&rsquo;s Nikkei gained half a percent. However, China&rsquo;s Shanghai Composite closed marginally in the red.
Back home, Indian equities ended the day almost unchanged. Both the Sensex and the Nifty were flat, with the Nifty closing above 24,300. Out of the fifty Nifty stocks, 30 declined, 19 gained and one remained unchanged. Oil and gas major ONGC was the star of the trade, up around three percent. NTPC and Adani Ports were the biggest laggards, down over two percent each.
On the deal street, Bharti Global, the international investment arm of Bharti Enterprises, announced it will acquire a 24.5 percent stake in Britain&rsquo;s largest telecom company, BT Group. Bharti will purchase the stake from Altice UK, BT Group&rsquo;s largest shareholder, for four billion dollars. This transaction will make Bharti Global the largest stakeholder in BT Group. It&rsquo;s worth noting that in 1997, BT had invested in Bharti Airtel. Bharti&rsquo;s shares ended the day flat.
In stock-specific action, most Adani Group stocks ended the day in the red. This followed allegations from the U.S. short-seller firm Hindenburg Research, accusing SEBI chief Madhabi Puri Buch and her husband of past investments in offshore funds that were also used by the Adani Group. However, Madhabi Puri Buch refuted the claims, calling them "baseless" and "malicious."
In the startup space, OYO founder Ritesh Agarwal has invested 830 crore rupees into the company through his Singapore-based entity, Patient Capital. According to sources quoted by PTI, this investment is part of OYO's latest funding round, which raised 1,457 crore rupees. This will increase Agarwal's stake from 30 percent to 32.5 percent.

Gold demand in India took a hit in the April-June quarter falling 5% year on year

News Wrap | Sensex & Nifty close flat, Rapido becomes a Unicorn | 30.07.24

Gold demand in India took a hit in the April-June quarter falling 5% year on year

Good evening and welcome to Business Hook&rsquo;s daily news podcast, where we get you a roundup of the day&rsquo;s top business stories. I&rsquo;m Avni Raja and today is the 30th of July 2024.
Let&rsquo;s start with the day&rsquo;s market action: The Sensex and the Nifty ended the session almost flat, giving up all intraday gains. The Sensex closed at 81,455 and the Nifty at 24,857. Among the Nifty Fifty stocks, 21 advanced while 29 declined. Tata Motors was the biggest gainer of the day, ending 3.4 percent higher.
Meanwhile, in Asia, most equity markets closed in the red. However, Japan&rsquo;s Nikkei closed marginally higher as the Bank of Japan began its two-day monetary policy meeting. The Japanese central bank is expected to increase its key interest rate to 0.1 percent from the current range of zero to 0.1 percent.

Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers

Sensex crosses historic 80,000 for the first time; Nifty hits record high

Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers

Indian benchmark indices, Nifty and Sensex, reached new record highs, driven by positive global cues. The Sensex crossed the 80,000 mark for the first time, hitting 80,039 points, while the Nifty50 index rose by 169 points to 24,292. The rally was led by financial and FMCG stocks, including HDFC Bank, ITC, Bajaj Finance, and Hindustan Unilever. Most sector indices showed gains, with Nifty Financial Services, Nifty Private Bank, Nifty FMCG, and Nifty Metal among the top performers. The Nifty IT index was the only sector trading without gains.
Also read/watch - <a title="HSBC halts hiring, cuts expenses amid cost reduction efforts: Report" href="https://www.editorji.com/business-news/hsbc-halts-hiring-cuts-expenses-amid-cost-reduction-efforts-report-1719923821060">HSBC halts hiring, cuts expenses amid cost reduction efforts: Report</a>
Among the Sensex pack, HDFC Bank, ICICI Bank, Kotak Mahindra Bank, Bajaj Finance, IndusInd Bank, Bharti Airtel and Nestle were the biggest gainers.
Tata Consultancy Services, Sun Pharma, Infosys and Tata Motors were among the laggards.
In Asian markets, Seoul, Tokyo and Hong Kong were trading in the positive territory while Shanghai quoted lower.
US markets ended higher on Tuesday.
The BSE benchmark declined 34.74 points or 0.04 per cent to settle at 79,441.45 in a volatile trade on Tuesday. During the day, it jumped 379.68 points or 0.47 per cent to hit a record peak of 79,855.87.
The Nifty declined by 18.10 points or 0.07 per cent to 24,123.85. Intra-day, it climbed 94.4 points or 0.39 per cent to hit a lifetime high of 24,236.35.

Optimism in the markets is due to various factors such as the Reserve Bank of India (RBI) revising upwards the GDP growth projectio

Sensex breaks 77,000 mark for first time after PM Modi's historic third-term inauguration

Optimism in the markets is due to various factors such as the Reserve Bank of India (RBI) revising upwards the GDP growth projectio

The Sensex and Nifty indices surged to record levels in early trading, fueled by robust gains across various sectors. The Nifty 50 index soared to an unprecedented high, driven by significant upward momentum in IT, financial, and consumer goods stocks.
This market rally follows Narendra Modi's swearing-in as Prime Minister for a historic third term on Sunday.
As of 09:21 a.m, the NSE Nifty 50 had risen by 91.90 points to 23,382, while the BSE Sensex increased by 233 points to 76,926. During the session, the NSE Nifty 50 reached a peak of 23,411.90, and the Sensex climbed to an all-time high of 77,079. Also read/watch - <a title="Statistics ministry anticipates minimal revision to FY24 GDP" href="https://www.editorji.com/business-news/economy/statistics-ministry-anticipates-minimal-revision-to-fy24-gdp-1717994698994">Statistics ministry anticipates minimal revision to FY24 GDP</a>&nbsp;
Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the biggest gainers.
Tech Mahindra, Infosys, Wipro, HCL Technologies and Titan were among the laggards.
On Friday, Sensex and Nifty climbed over 2% to settle at record high levels after the Reserve Bank of India revised the GDP growth projection for 2024-25 upwards to 7.2% from the previous 7%.

The brokerage also advises investors to stay invested, stating that this is set to be India's longest and strongest bull market

Sensex can hit 82,000 by June 2025, says Morgan Stanley

The brokerage also advises investors to stay invested, stating that this is set to be India's longest and strongest bull market

Morgan Stanley, a global investment bank and wealth management firm, predicts that the Sensex will reach 82,000 by June 2025. The brokerage noted that current share prices have not yet accounted for several macroeconomic positives.
It further indicated that while India's bull market is aging, it remains young in terms of returns.
Also read/watch - <a title="Google cuts jobs across teams in its Cloud unit" href="https://www.editorji.com/business-news/google-cuts-jobs-across-teams-in-its-cloud-unit-1717654685629">Google cuts jobs across teams in its Cloud unit</a>
Morgan Stanley notes that the BJP led NDA retaining its majority ensures policy predictability, which benefits equities.
The election outcome is likely to lead to more structural reforms and supports Morgan Stanley's forecast of 20% annual earnings growth over the next five years.
The brokerage also advises investors to stay invested, stating that this is set to be India's longest and strongest bull market.

As benchmark indices Sensex and Nifty gained over 2% each during the intraday trading, the Volatility gauge fell nearly 30%

Sensex, Nifty gain in intraday trade amid high volatility

<h2>As benchmark indices Sensex and Nifty gained over 2% each during the intraday trading, the Volatility gauge fell nearly 30%</h2>

Stock market recovered from the blood bath it suffered on Tuesday amid the unexpected poll verdict. During the intraday trading the benchmark indices Sensex and Nifty were both up over 2% each.&nbsp;
At 11.30 am, Sensex zoomed 1,500 points trading 1,636 points or 2.27% higher at 73,715.19 points while Nifty was up 521.40 points or 2.38% trading at 22,405.90 points.&nbsp;
<h3>Share market on the rise</h3>
Meanwhile the Volatility Gauge fell nearly 30% intraday as the benchmark indices rise. During the intraday trading three nifty stocks including Britannia industries, Hero Motocorp and M&amp;M hit their lifetime highs.
While the Nifty FMCG stocks continued to rise, the Nifty Defence stocks extended losses. Hero Motocorp, HUL, M&amp;M, Tata Cons and Asian Paints were the top gainers during the Intraday trading. On the sectoral front, buying is seen in the auto, FMCG, pharma and IT, while selling is seen in the bank, capital goods, realty, power and oil &amp; gas.
The NSE Nifty 50 opened 153.15 points or 0.70% higher at 22,037.65, while the BSE Sensex opened 489.14 points or 0.68% higher at 72,568.19 on Wednesday.
Also watch: <a href="https://www.editorji.com/business-news/markets/share-market-opens-slightly-higher-a-day-after-general-election-results-1717562658146">Share market opens slightly higher a day after general election results</a>

From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards

Stock Market on Thursday: Sensex and Nifty 50 drop nearly 1% in broad selloff

From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards

The Indian stock market saw a widespread selloff on Thursday, May 30, due to the expiry of May futures and options contracts. Market participants remained uneasy ahead of the Lok Sabha election results, set to be announced on June 4. On May 30, the benchmark equity indices closed negatively. The BSE Sensex dropped 617 points, or 0.83%, to 73,885, while the NSE Nifty 50 fell 216 points, or 0.95%, to 22,488.
"The benchmark index is taking cues from the US market as treasury yields continue to climb following the stickiness of global inflation, delaying the central bank&rsquo;s interest rates cut policy," Vinod Nair, Head of Research at Geojit Financial Services, said.
Also read/watch - <a title="RBI's balance sheet at Rs 70.48 lakh crore surpasses Pakistan, Bangladesh's combined GDP" href="https://www.editorji.com/business-news/rbi-s-balance-sheet-at-rs-70-48-lakh-crore-surpasses-pakistan-bangladesh-s-combined-gdp-1717061466667">RBI's balance sheet at Rs 70.48 lakh crore surpasses Pakistan, Bangladesh's combined GDP</a>
From the Sensex pack, Tata Steel, Titan, Tech Mahindra, Wipro, Bajaj Finserv, Bajaj Finance, Nestle India, Tata Motors and JSW Steel were the biggest laggards.
ICICI Bank, Axis Bank, HDFC Bank, State Bank of India and Kotak Mahindra Bank were the gainers. Election-related uncertainty has increased, contributing to market nervousness. The final phase of voting is scheduled for Saturday, June 1, with vote counting starting on June 4. The election results are expected to be clear by the end of the day.

UBS foresees market highs if BJP wins majority, but possible devaluation with INDIA bloc victory

Lok Sabha polls: UBS predicts impact on stock market in various scenarios

<h2>UBS foresees market highs if BJP wins majority, but possible devaluation with INDIA bloc victory</h2>

UBS has come up with four different scenerios of the election results and its impact on the share market. In a scenerio in which Prime Minister Narendra Modi led BJP retains absolute majority the stock market indices Sensex and Nifty are likely to scale new highs. As per UBS the probability for this is high. Meanwhile, it suggests that the stock market valuations may get derated and a test of pre-NDA valuation multiples are likely if INDIA bloc comes to power.
<h3>New heights or devalution?</h3>
As per UBS, alliances have historically played crucial role in Indian elections. But the BJP&rsquo;s dominance as a single party in the previous two elections has somewhat diminished the influence of coalitions in government formation.&nbsp;
"In the 2019 general elections, the BJP achieved a voter share above 50% in 222 out of the 303 seats won, with the margin of victory above 5% in 259 seats (over 85% of total seats won). The opinion polls show the newly formed coalition, INDIA (Indian National Developmental Inclusive Alliance), may struggle to gain voter share as BJP's dominance seems to be continuing in the 2024 elections as well," it said.
UBS further said that any market underperformance triggered by election results, historically, tends to reverse in the medium to long term, as investors and businesses adapt to new government policies.
"Despite the potential for near-term election-driven uncertainty, we reiterate our view that any sharp weakness in equities could offer buying opportunities," it said
Here are the four scenerios and the impact, as per BJP:
<ul>
<li>If BJP will retain single-party majority as in opinion polls, markets will likely remain confident about policy continuity, but the likelihood of further reforms including on disinvestment, the land bill, and the uniform civil code could depend on the number of seats won. Overall, it believes the financial market sentiment will likely remain positive</li>
<li>If BJP fails to retain single party majority, but NDA forms government markets could be slightly less confident about policy stability as fiscal consolidation could be slower than envisaged. There could be pressure from other political alliances, but overall macro stability could still persist and could see a mixed impact on financial markets</li>
<li>In case of a Hung parliament as NDA fails to get the majority, UBS said it could lead to lags in implementing reforms. It envisages risks of policy paralysis, which could negatively impact financial markets</li>
<li>If INDIA bloc gets the majority there could be significant market uncertainty with the potential for more abrupt policy changes. "We see high risks of reversal of some reforms implemented by the NDA. Financial markets could potentially see a sharp knee-jerk reaction due the uncertainty that comes along with a change in government", UBS said</li>
</ul>
Also watch: <a href="https://www.editorji.com/business-news/markets/lok-sabha-polls-here-s-what-experts-say-about-low-voter-turnout-s-impact-on-share-market-1716279418242">Lok Sabha Polls: Here's what experts say about low voter turnout's impact on share market</a>

Sensex, Nifty face election year jitters, worst since 2004

Initially, bulls expected a strong mandate for the incumbent government in the Lok Sabha elections and anticipated rate cuts from the US Federal Reserve

The 2024 lok Sabha elections have caused significant nervousness in the stock markets. By last weekend, the Sensex and Nifty had only risen 2.4% and 3.5%, respectively&mdash;their worst performance since 2004, according to a Financial Express report.
This modest gain came after a recent market mood improvement. The India VIX, indicating expected volatility over the next 30 days, has surged 40% to 20.5.
Several factors contribute to market anxiety. Initially, bulls expected a strong mandate for the incumbent government in the Lok Sabha elections and anticipated rate cuts from the US Federal Reserve.
However, uncertainty surrounds the incumbent government's potential seat count, and the Federal Reserve has postponed rate cuts. Additional concerns include the geopolitical crisis in the Middle East and China's resurgence as an investment destination. FIIs have net sold shares worth around Rs 28,500 crore so far in May, making it one of the worst months in recent years from a foreign fund flows perspective.

The NSE Nifty also surged 203 points or 0.92 per cent to 22,403

Sensex, Nifty spurt nearly 1% on buying in HDFC Bank, Infosys

The NSE Nifty also surged 203 points or 0.92 per cent to 22,403

Equity benchmark indices Sensex and Nifty shot up nearly 1 per cent on Thursday, driven by buying in HDFC Bank and Infosys and a rally in the US and Asian markets.
In a highly volatile trade, the 30-share BSE Sensex climbed 676.69 points or 0.93 per cent to settle at 73,663.72. During the day, it hit a high of 73,749.47 and a low of 72,529.97.
The NSE Nifty surged 203.30 points or 0.92 per cent to 22,403.85.
"The domestic market experienced a late surge, driven by strong global trends that pointed to lower-than-expected US consumer inflation figures, which suggests at least two interest rate cuts in 2024," Geojit Financial Services Head of Research Vinod Nair said.
Among the Sensex components, Mahindra &amp; Mahindra, Bharti Airtel, Tech Mahindra, Titan, Infosys, JSW Steel, Bajaj Finserv, HDFC Bank, Larsen &amp; Toubro and Kotak Mahindra Bank were the major gainers.
Maruti, State Bank of India, Power Grid, Tata Motors and IndusInd Bank were the laggards.
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled with gains. European markets were trading lower. Wall Street ended higher on Wednesday.
Global oil benchmark Brent crude declined 0.33 per cent to USD 82.45 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,832.83 crore on Wednesday, according to exchange data.

In this episode of Invest Smart, Viral Bhatt, founder of Money Mantra and Editorji's Avni Raja discuss investment tips as Sensex hits the 75,000 mark

Sensex surges to new high, touches 75,000 mark: Expert advice for investors

<h2>In this episode of Invest Smart, Viral Bhatt, founder of Money Mantra and Editorji's Avni Raja discuss investment tips as Sensex hits the 75,000 mark</h2>

Indian stock market continues to scale new highs, with the Sensex crossing the 75,000 mark. This surge has led many investors to reconsider their investment plans. In this week's episode of Invest Smart, Avni Raja sat down with Money Mantra's Viral Bhatt to discuss the current scenario and its implications.
Founder of Money Mantra, Viral Bhatt, shed light on the current market dynamics and offered advice for investors navigating this landscape. With stock markets soaring and precious metals like gold and silver also on the rise, Bhatt addressed the concerns of investors amidst this euphoric yet apprehensive atmosphere.
Highlighting the importance of understanding the market's intricacies, Bhatt cautioned against overlooking potential signs of overvaluation, particularly in segments like mid-cap and small-cap stocks. He emphasised the need for investors to align their investment decisions with their financial goals, risk tolerance, and time horizons.
Diversification emerged as a key theme in Bhatt's recommendations, urging investors to prudently allocate their assets across various classes, including stocks, mutual funds, commodities, gold, and silver. Additionally, he underscored the significance of revisiting financial goals and maintaining a balanced portfolio tailored to individual circumstances.
Speaking on profit booking, Bhatt advocated for a measured approach, advising investors to stay the course while considering partial profit booking in certain segments. He suggested reallocating profits into less volatile assets like large-cap stocks or debt instruments, aligning with investors' risk profiles and objectives.
Addressing concerns specific to mutual fund investors, Bhatt outlined factors such as achieving financial goals, performance evaluation, and the importance of aligning fund choices with investment horizons and risk appetite. He also emphasised the role of strategic asset allocation in optimising returns while managing risks effectively.
Concluding the discussion, Bhatt offered insights into the role of gold as an investment avenue, recommending a modest allocation of 5-10% in portfolios. He highlighted gold's historical performance as a hedge against inflation, aligning with the broader investment strategy outlined during the episode.
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Sensex achieves unprecedented 75,000-point milestone in a mere 82 days, primarily fueled by the collective surge of four major stocks, prominently led by Reliance Industries. 

Sensex skyrockets to 75,000 points powered by four key stocks: Report

Sensex achieves unprecedented 75,000-point milestone in a mere 82 days, primarily fueled by the collective surge of four major stocks, prominently led by Reliance Industries.&nbsp;

The Bombay Stock Exchange's benchmark index, Sensex, achieved a historic milestone on April 9, soaring to an all-time high of 75,000 points. This feat was accomplished in just 82 days since it breached the 70,000 mark on December 11, 2023. However, what's particularly noteworthy is that only four stocks have played a pivotal role in propelling the Sensex to this unprecedented summit, reported Moneycontrol.
Accounting for a staggering 60% of the 5,000-point rally in Sensex market capitalization during the past 82 days, these four stocks have witnessed a remarkable surge in their market capitalization, cumulatively amounting to Rs 7.31 lakh crore. Leading this charge is Reliance Industries, which alone contributed over 29% to the rally, as per the MC report.&nbsp;
While the next four stocks together contributed over 27% to the upsurge, it's evident that the lion's share of the gains stemmed from a handful of giants. Interestingly, amidst these gains, a dichotomy emerged within the index, with 12 stocks registering gains of 1-5% while 10 saw negative growth.
Analysts are closely monitoring Reliance Industries (RIL) amid its meteoric rise. Since December, RIL has surged nearly 21%, fueled by expectations of mid-FY25 increases in telecom tariffs, initiatives to bolster 5G monetization, and a favorable oil market impacting its oil-to-chemicals (O2C) ventures. Moreover, RIL's $10-billion investment in renewable energy ventures has stirred investor excitement, with anticipation of high valuations mirroring previous strategic moves.
The bullish sentiment isn't limited to RIL alone. Optimism pervades the broader market, fueled by strong performances in sectors like capital goods, automobiles, banking, and metals. The resilience of the Indian economy, coupled with continued capital inflows into mutual funds and robust domestic investor sentiment, underscores the broader market rally.
However, analysts caution against unjustified valuations in the Smallcap segment, indicating potential risks amidst the euphoria. Nonetheless, as both the Sensex and Nifty trade at fresh record highs, the prevailing sentiment remains bullish, reflecting the underlying strength of the Indian market.

Mobius also said that while India has substantial potential, a significant shift of funds from China to India has yet to materialize due to the disparity in market sizes

Mark Mobius’ big prediction: Sensex can reach 1 lakh in 5 years

<h2>Mobius also said that while India has substantial potential, a significant shift of funds from China to India has yet to materialize due to the disparity in market sizes</h2>

Veteran Emerging Markets Investor Mark Mobius expressed optimism about the Indian stock market and has said the Sensex could rise to the 1 lakh mark in the next five years.
Speaking to CNBC-TV18, Mobius, Chairman of Mobius Emerging Opportunities Fund, emphasized the necessity for India to expand its market size to attract greater capital inflow.
"One area where you can have a lot more size is the infrastructure sector if you do IPOs of various infrastructure projects, whether it be bridges, toll roads," Mobius. He further said that Railways as a sector has "incredible potential for growth."
He also highlighted the need for increased equity offerings, IPOs, and the listing of government enterprises to achieve this goal. "A lot depends on the ability of Prime Minister Narendra Modi to reduce the amount of bureaucracy for people wanting to invest in India and willing to put money in the Indian market. That is something he would want to work on," he said.
Mobius also said that while India has substantial potential, a significant shift of funds from China to India has yet to materialize due to the disparity in market sizes.

The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817

Sensex, Nifty tank 1% amid slump in TCS, ahead of US Fed interest rate decision

<h2>The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817</h2>

Benchmark equity indices Sensex and Nifty tumbled 1 per cent each on Tuesday dragged down by a heavy sell-off in TCS, Infosys and Reliance Industries amid weak Asian markets and fresh foreign fund outflows.
The 30-share BSE Sensex tanked 736.37 points or 1.01 per cent to settle at 72,012.05 after opening on a weak note. During the day, it dropped 815.07 points or 1.12 per cent to 71,933.35.
The NSE Nifty slumped 238.25 points or 1.08 per cent to finish at 21,817.45.
Investors turned cautious ahead of the US Fed interest rate decision this week, analysts said.
Among Sensex shares, Tata Consultancy Services tanked over 4 per cent as its promoter Tata Sons sold around 2.3 crore shares, or 0.65 per cent of equity stake, in the IT services major through block deals.
IndusInd Bank, Wipro, Nestle, HCL Technologies, Infosys, Power Grid, ITC, Tech Mahindra, Tata Motors and UltraTech Cement were the other major laggards.
Bajaj Finance, Kotak Mahindra Bank, HDFC Bank, Bajaj Finserv, Titan and Bharti Airtel were the gainers.
In Asian markets, Seoul, Shanghai, and Hong Kong settled lower, while Tokyo ended in the green.
European markets were trading with marginal gains. Wall Street ended in positive territory on Monday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,051.09 crore on Monday, according to exchange data.
Global oil benchmark Brent crude dipped 0.40 per cent to USD 86.54 a barrel.

The broader markets also witnessed a strong recovery. Additionally, wholesale inflation dipped marginally, indicating potential relief for future rate cuts. 

Sensex rebounds 335 points, Nifty surpasses 22,100 mark: IT and metal shares drive market recovery

The broader markets also witnessed a strong recovery. Additionally, wholesale inflation dipped marginally, indicating potential relief for future rate cuts.&nbsp;

Benchmark Sensex rebounded 335 points and Nifty closed above the 22,100 level on Thursday on the back of buying in IT shares and metal shares as broader markets recovered from previous day's sharp losses.
The 30-share BSE Sensex climbed 335 points to settle at 73,097. During the day, it jumped 602.41 points to 73,364.
The NSE Nifty gained 148.95 points to 22,146.65.
From the Sensex pack, HCL Technologies, Infosys, Wipro, Bharti Airtel, Larsen &amp; Toubro, Mahindra &amp; Mahindra, Tata Consultancy Services and Asian Paints were the major gainers.
Axis Bank, IndusInd Bank, Bajaj Finance, JSW Steel, State Bank of India and Tata Steel were among the major laggards.
The broader markets also staged a smart recovery, with the BSE Smallcap gauge jumping 3.11% and midcap index climbing 2.28%.
Wholesale inflation rate declined marginally to 0.2% in February compared to 0.27% in the preceding month despite a slight uptick in the food basket.
"The market was able to recover half of last trading day&rsquo;s sell-off as leverage based square-off neutralised it, while institutional buying sustained the buoyancy.
"Domestic economic data Wholesale Price Inflation (WPI) eased to four-month low at 0.2% YoY in February, bringing ease to upcoming CPI trajectory, a relief for future rate cuts. The broader market is outperforming the headline indices, taking advantage of mid and smallcap as a bargaining strategy," said Vinod Nair, Head of Research, Geojit Financial Services.
Fitch Ratings raised India's economic growth forecast to 7% for the next fiscal year on the back of strong domestic demand and sustained level of business and consumer confidence.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 4,595.06 crore on Wednesday, according to exchange data.
In Asian markets, Seoul and Tokyo settled in the green while Shanghai and Hong Kong ended lower.
European markets were trading mostly in the green. The US markets ended on a mixed note on Wednesday.
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Among the sectoral indices, Nifty realty, metal, and media declined over 6% each. Nifty Small Cap declined 5%, while Nifty Midcap 100 was down 4.4%

Sharp sell-off on Dalal Street: Sensex plunges 906 points, Nifty slips below 22,000

<h2>Among the sectoral indices, Nifty realty, metal, and media declined over 6% each. Nifty Small Cap declined 5%, while Nifty Midcap 100 was down 4.4%</h2>

Indian equities saw sharp sell-off on Wednesday. Both the Sensex and the Nifty slipped almost a percent and a half each, as US rate cut delay concerns weighed on investor sentiment.
The Sensex declined over 900 points to close below 73,000 and the Nifty slipped over 300 points to end the session under 22,000.
The market breadth was also negative, with more than 3,500 stocks declining against just 400 advancing. Among the sectoral indices, Nifty realty, metal, and media declined over 6% each. Nifty Small Cap declined 5%, while Nifty Midcap 100 was down 4.4%.
Benchmark indices started the session on a positive note, but the selling intensified during afternoon trade, with all sectoral indices ending in the red.
The 30-share index tanked 906.07 points or 1.23 per cent to settle at 72,761.89. During the day, it dropped 1,152.25 points or 1.56 per cent to 72,515.71.
The Nifty plummeted 338 points or 1.51 per cent to 21,997.70.
Power Grid was the biggest loser in the Sensex pack, sliding over 7 per cent, followed by NTPC, Tata Steel, Tata Motors, JSW Steel, Bharti Airtel, Titan, Reliance Industries and Hindustan Unilever.
In contrast, ITC, ICICI Bank, Kotak Mahindra Bank, Nestle, Bajaj Finance and HDFC Bank were the gainers.
"In contrast to the global uptrend, the unfavourable risk-reward balance of mid and smallcap stocks, fuelled by prolonged premium valuations, has aggravated the downfall. Meanwhile, FMCG and contrarian plays like gold are offering some refuge. Other than the premium valuation no fundamental issue is noticed to drawback the long-term growth image of domestic midcaps," said Vinod Nair, Head of Research, Geojit Financial Services.
In the broader market, the BSE smallcap gauge tanked by 5.11 per cent, while the midcap index declined by 4.20 per cent.
In Asian markets, Seoul settled in the green, while Tokyo, Shanghai and Hong Kong ended lower.
European markets were trading mostly in the green. The US markets ended with significant gains on Tuesday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 73.12 crore on Tuesday, according to exchange data.
Global oil benchmark Brent crude climbed 1.09 per cent to USD 82.81 a barrel.

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