Stock Market Live: Sensex opens 300 points higher, Nifty above 14,450; all sectors in the green-But slides
Stock Market Live: Indian indices opened higher on Monday, after two sessions of losses, tracking gains in the Asian peers. All sectors witnessed massive buying in opening deals lifting the index sentiment. The banking, auto, fin services, metal and realty sectors were all up 1-2 percent in early deals.
Opening Bell: Sensex opens 300 points higher, Nifty above 14,450; all sectors in the green
Indian indices opened higher on Monday, after two sessions of losses, tracking gains in the Asian peers. All sectors witnessed massive buying in opening deals lifting the index sentiment. The banking, auto, fin services, metal and realty sectors were all up 1-2 percent in early deals. At 9:18 am, the Sensex was up 342 points at 49,220 while the Nifty rose 88 points to 14,460. On the Nifty50 index, JSW Steel, UltraTech cement, Bajaj Finance, Tata Motors and HDFC were the top gainers while RIL, Powergrid, HUL, Dr Reddy’s, and Infosys led the losses.
IPO proceeds in India rises 61% in 2020, sentiments revive in Q4
Proceeds from initial public offerings (IPOs) in the country surged 61 percent last year to over $4.09 billion, showed an EY report on Sunday. The ‘EY India IPO Trends Report: Q4 2020’ showed that the increase in IPO proceeds came despite the fact that the number of IPOs in 2020 was just 43, down 33 percent from 2019. It said that the fourth quarter of 2020 saw a strong rebound in IPO activity and market sentiment remains positive. “Real estate, hospitality, and construction, diversified industrial products were the most active sectors (in terms of the number of IPOs) with three IPOs launched in each sector (including main and SME markets),” it said.
L&T is seen reporting profit 10% lower while EBITDA may see a minor increase of 1% YoY.
Here’s everything that’s making news in global markets
FPIs net investors at Rs 18,456 crore in January so far
Foreign portfolio investors (FPI) remained net buyers to the tune of Rs 18,456 crore so far in January as global liquidity led to continued investment in emerging markets. According to depositories data, overseas investors pumped in Rs 24,469 crore into equities but pulled out Rs 6,013 crore from the bonds market between January 1-22. The total net investment during the period under review stood at Rs 18,456 crore. “The inflow into the Indian markets continue as global liquidity leads to more investments in emerging markets like India,” said an analyst.
Market-cap of 4 of top-10 valued firms jumps over Rs 1.15 lakh crore
Four of the top 10 valued firms added a total Rs 1,15,758.53 crore to their combined market valuation last week, helped by Reliance Industries which added Rs 71,033.44 crore to its market cap. The BSE benchmark scaled the 50,000-mark for the first time on Thursday. Last week, the 30-share BSE benchmark dipped 156.13 points or 0.31 per cent. Reliance Industries Limited, Tata Consultancy Services (TCS), Hindustan Unilever Limited and Bajaj Finance witnessed a rally in their market valuation. On the other hand, HDFC Bank, Infosys, HDFC, ICICI Bank, Kotak Mahindra Bank and Bharti Airtel suffered cumulative loss of Rs 48,941.18 crore in their valuations.
First up, here is quick catch up of what happened in the markets on Friday
Indian indices ended 1.5 percent lower on Friday mainly dragged by banking, financial and metal sectors. Apart from these, the decline in heavyweight Reliance Industries further dragged the index ahead of its December quarter earnings. The Sensex ended 746 points lower at 48,878 while the Nifty fell 218 points to settle at 14,372. Both indices also ended the week in red, down around 0.4 percent each. Broader markets also pared gains to end lower today. The Nifty Midcap index was down 1 percent while the Nifty Smallcap index lost 0.5 percent for the day. Meanwhile, the volatility index was up 1 percent. On the Nifty50 index, Bajaj Auto, Hero Moto, HUL, Eicher Motors, And UltraTech Cement were the top gainers while, Axis Bank, Asian Paints, JSW Steel, Hindalco and ICICI Bank led the losses.
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