Tag: Stock

PSU banks sink on rising bond yields; 45 stocks give sell signal
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PSU banks sink on rising bond yields; 45 stocks give sell signal

MUMBAI: The rout in global bond markets reverberated in the domestic equity market today as benchmark equity indices registered their worst one-day fall since May. Globally, stocks fell from Tokyo to London on concerns that the faster-than-expected recovery in global economy in the face of easy monetary policy may stoke inflation, which will force central banks to tighten monetary policy.The Nifty50 index ended 3.8 per cent, or 568.20 points, lower at 14,529.15, while the BSE-Sensex closed at 49,099.99, down 3.8 per cent or 1,939.32 points.In the broader market, though, the sell-off was less intense as the Nifty Midcap 100 and Nifty Smallcap 100 index ended 1.6 and 1.2 per cent lower, respectively.The volatility in the market was sharply higher as reflected in the fear gauge India ...
Private banks boost benchmarks ahead of F&O expiry: Key factors driving the market
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Private banks boost benchmarks ahead of F&O expiry: Key factors driving the market

Private bank stocks continued to see buying after the Finance Ministry lifted an embargo on the allotment of government business to them, which pushed benchmark indices higher on Thursday. Positive global cues also supported the buying. However, analysts expect volatility as the monthly futures and options (F&O) contracts are set to expire later in the day."In this volatile market, where dips and bounce backs are sharp, the directional trend is upwards. The 'higher highs' & 'higher lows' indicate the long-term bullish trend. The fundamental reason for this trend, which is global, is the abundant liquidity available in the global financial system and the Fed's declared commitment to keep liquidity flowing and maintaining interest rates at historical lows,” said VK Vijayakumar, C...
After a blockbuster FY21, brokerages’ revenue growth to moderate in FY22
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After a blockbuster FY21, brokerages’ revenue growth to moderate in FY22

MUMBAI: After touching a record high in 2020-21, the brokerage industry's revenue growth will moderate in 2021-22, a domestic ratings agency said on Tuesday. High interest shown by both foreign portfolio investors and retail investors in the markets will lead the domestic broking industry's revenue to clock a 30-35 per cent growth to Rs 27,500-28,500 crore in 2020-21, said in a report. It is expected to moderate to 7-8 per cent growth in 2021-22 to Rs 29,500-30,500 crore, it added.In comments that come amid concerns over a disconnect between the surging markets and the contracting economy, the agency said domestic capital markets seem to have "bucked the overall economic outlook and pandemic blues".The market traction has been supported by strong FPI investment inflows, optimism rela...
HSBC’s 2020 annual profit falls 34%, lowers profitability target
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HSBC’s 2020 annual profit falls 34%, lowers profitability target

HSBC Holdings PLC on Tuesday revealed a 34 percent drop in annual profit, marginally better than assumptions, following a year in which its worldwide business took a powerful blow from the COVID-19 pandemic.Europe's greatest bank by resources, which makes the heft of its income in Asia, revealed profit before duty of $8.78 billion for 2020, down from $13.35 billion per year sooner.The profit was higher than the $8.33 billion normal of examiners' evaluations arranged by the bank.Underscoring the intense economic situations, HSBC deserted its drawn out profitability objective of accomplishing a profit from unmistakable value of 10 to 12 percent, and said rather it will target 10% over the medium term.HSBC said it would deliver a dividend of $0.15 an offer in real money, the first p...
Digital Currency future seems vague in India
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Digital Currency future seems vague in India

Indeed, even as the world's biggest and most well known cryptocurrency is gaining ground, the subject of guideline poses a potential threat in India. As of now, the fleeting ascent of Bitcoins can be ascribed to proceeded with revenue by major corporates. Presently, an ever increasing number of little and huge financial backers around the globe are pulled in to cryptocurrency inferable from its likely gains.As of late, the cost of Bitcoin crossed the record high of $54,000. The noteworthy accomplishment was accomplished after a main electric carmaker declared that it purchased $1.5 billion in Bitcoin and would acknowledge the cash as the method of installment. The precarious ascent in the estimation of the virtual cash has made it a hotly debated issue among investigators and financial...
2 stock recommendations for Monday
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2 stock recommendations for Monday

Nifty OutlookAmit Trivedi, CMT, Technical Analyst - Institutional Equities, YES Securities:Snapping a two-week-long winning streak, the bulls took a pause last week. Nifty lost 3.5 per cent from its record peak, revisiting levels of 14,900. The rally in Friday’s trade remained short-lived, finding stiff resistance near 15,150. On the flip side, selling pressure intensified as it broke below levels of the previous session’s low (15,078). Sustenance above 14,900 could attract some consolidation at the upper band, albeit a mixed trend is possible among sectoral indices.Stocks-specific action was the theme last week as about half of Nifty50 components faced down-ticks, while stocks like ONGC, GAIL, NTPC and Power Grid rose more than 10 per cent.Meanwhile, Bank Nifty ended lower for a f...
Toppy stock markets spark more “bubble” chatter
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Toppy stock markets spark more “bubble” chatter

LONDON: A strong start for world equities in 2021 after the fastest bear-to-bull market switch last year has prompted market mavens to flag worries about pricey assets, with BofA calling it the "mother-of-all asset bubbles". The torrent of cash sloshing around world markets due to the unprecedented stimulus measures in place to fuel economies coming out of the pandemic-led recession has fed into the euphoric rush to equities, particularly Big Tech.The US Federal Reserve for instance has been purchasing bonds at a record pace, doubling its balance sheet to nearly $8 trillion in less than a year. During the same period, the five biggest tech stocks have seen their market value double.As financial assets worth $1.1 billion are gobbled up by global central banks every hour, there is irra...
Robinhood to allow customers to deposit, withdraw cryptocurrencies
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Robinhood to allow customers to deposit, withdraw cryptocurrencies

Online broker Robinhood said on Wednesday it intends to give customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin. The trading app popular with young investors currently allows customers to buy, sell and hold cryptocurrencies such as Bitcoin on its platform, but users cannot withdraw their assets to transfer to other wallets.In January, Robinhood had temporarily disabled a feature on its app that allowed users to buy crypto securities instantly due to volatile market conditions sparked by a trading frenzy in shares of GameStop Corp. The brokerage faced criticism from users who could not move their assets to other wallets.As part of a series of tweets, Robinhood said on Wednesday it does not currently invest in cryptocurrency or use any cus...
IndusInd promoters convert warrants, invest over Rs 2000 cr
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IndusInd promoters convert warrants, invest over Rs 2000 cr

IndusInd Bank promoters IndusInd International Holdings Ltd (IIHL) have converted warrants in the bank at a 60% premium to Tuesday’s closing price investing Rs 2,021 crore, putting to rest doubts on whether the Hinduja-backed company had the financial muscle to keep capitalising its crown jewel. The investment was done by pledging a portion of the bank's shares with banks making investors wary, but the Hindujas said it was more due to technical holding requirements rather than the financial strength of the business family. In an interview with ET, Ashok P Hinduja, chairman IIHL, said the Hinduja brothers’ don't intend to sell a single share and would keep pursuing their interest to raise their family holding to at least a quarter of the bank, he said. “We have never sold a single share i...
F&O: Nifty50 regains bullish bias; options show wider trading range
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F&O: Nifty50 regains bullish bias; options show wider trading range

Nifty opened with a gap-up on Monday in line with positive global cues, and is back at its record high levels after seeing some consolidation over the past four sessions. It moved in a range of 100 points and was led by positive momentum in the heavyweight stocks. The index settled the day with a gain of around 150 points. It formed a small-bodied bullish candle on the daily scale and has been forming higher highs and lows since the past three sessions. Now, it has to hold above 15,200 level to continue the bullish momentum towards the 15,500 level, while on the downside major support can be seen around 15,100 and 15,000 levels.India VIX slipped 2.57% to 21.47. Now, VIX needs to cool down and hold below 20 level to continue the ongoing momentum with a higher market base.On the option...