Share market this week: Five of top-10 firms add Rs 1.63 lakh crore in m-cap; RIL sparkles 1

Share market this week: Five of top-10 firms add Rs 1.63 lakh crore in m-cap; RIL sparkles

RIL maintained its numero uno position.
Five of the 10 most valued domestic companies added Rs 1,63,795.48 crore in market capitalisation last week, with RIL accounting for the lion’s share of the gains.  Tata Consultancy Services (TCS), HDFC Bank, Infosys and Kotak Mahindra Bank were the other firms in the top-10 list which witnessed a rise in their market capitalisation (m-cap) for the week ended Friday.
On the other hand, HUL, HDFC, Bharti Airtel, ITC and ICICI Bank finished with losses. The market cap of Reliance Industries Ltd (RIL) zoomed Rs 1,21,904.63 crore to Rs 8,98,499.89 crore. The index heavyweight had soared over 10 per cent on April 22 after Facebook announced an investment of USD 5.7 billion (Rs 43,574 crore) to buy 10 per cent stake in Jio Platforms. Related News HDFC Bank’s valuation jumped Rs 14,941.95 crore to reach Rs 5,14,140.35 crore and that of Infosys advanced Rs 12,351.08 crore to Rs 2,80,369.48 crore.  Kotak Mahindra Bank added Rs 10,282.58 crore to its valuation to stand at Rs 2,37,255.01 crore, while TCS gained Rs 4,315.24 crore to Rs 6,82,296.11 crore.
In contrast, ICICI Bank’s valuation dropped Rs 26,571.92 crore to Rs 2,16,778.54 crore.  The market cap of Hindustan Unilever Limited (HUL) diminished by Rs 21,983.99 crore to Rs 4,94,212.28 crore and that of HDFC plunged Rs 17,502.34 crore to Rs 2,73,550.94 crore.
ITC’s valuation fell by Rs 9,956.71 crore to Rs 2,21,260.16 crore and that of Bharti Airtel dipped Rs 4,3Read More…

Centre directs Nafed to commence onion procurement for buffer stock 2

Centre directs Nafed to commence onion procurement for buffer stock

Procurement is likely to commence only after May 3. (Representative image)
The Centre has directed the National Agricultural Co-operative Marketing Federation of India (Nafed) to commence procurement of 40,000-50,000 tonne of summer onions towards the creation of buffer stock.
According to Nanasaheb Patil, director of Nafed, the agency was given a target of procuring one lakh tonne in January itself from Maharashtra and Gujarat, and this year, Madhya Pradesh had also expressed interest in participating the procurement process. Normally, around 50% of the target is allocated to Maharashtra since the state is strong in terms of storage facilities. Related News Meetings are still in progress at Nafed regarding the price since this is a very unique situation. Usually procurement was done under the Price Stabilisation Scheme where Nafed purchases onions at the market price, he said. A clear picture is likely to emerge within the next two to three days, Patil said.
Procurement is likely to commence only after May 3 when the lockdown period ends since labour is required in large numbers when bulk purchase is done, he said.
Last year, too, the Centre had procured 57,000 tonne of onions through Nafed to create a buffer stock. Earlier, the target was 50,000 tonne, but Nafed had made additional procurement as per instructions from the central government. Of the total 57,000 tonne procured, around 48,000 tonne of onions were procured from different pockets of Maharashtra, while thRead More…

Gold prices near lifetime high ahead of Akshaya Tritiya. Is it a good time to buy yellow metal? 3

Gold prices near lifetime high ahead of Akshaya Tritiya. Is it a good time to buy yellow metal?

As gold prices have hit lifetime highs twice this month, experts suggest that it is a good time to buy the yellow metal.
Gold prices edged higher on Friday ahead of Akshaya Tritiya as investors rushed to safety amid lockdown and fast-spreading coronavirus. In India, the total number of COVID-19 patients have crossed 23,000-mark, according to the government data. Last week MCX gold prices hit a record high level of Rs 46,785 per 10 grams. Gold June futures were trading close to their lifetime high level, at Rs 46,635 per 10 grams, up Rs 208 or 0.45 per cent. Similarly, silver may futures were ruling Rs 194 or 0.46 per cent higher at Rs 42,000 per kg. As gold prices have hit lifetime highs twice this month, experts suggest that it is a good time to buy the yellow metal. “It is the best time to buy gold as unprecedented fiscal and monetary stimulus will ultimately lead to currency debasement and ultimately higher gold prices,” Bhavik Patel, Commodity/Currency analyst at Tradebulls Securities told Financial Express Online.  
Gold prices have jumped nearly 18 per cent from its recent low of Rs 38,400 per 10 grams hit on March 16, 2020. While silver futures have surged 20 per cent from its recent low of Rs 33,580 per kg. Last year on Akshaya Tritiya, around 33-35 tons of gold was sold. However, due to coronavirus-led lockdown, in the month of March, India has just imported 25 tonnes of gold against around 94 tonne last year,” Anuj Gupta, Deputy VP- Commodities Read More…

To avoid fresh Sebi notice, HDFC AMC pays Rs 4 crore to settle Essel investments case 4

To avoid fresh Sebi notice, HDFC AMC pays Rs 4 crore to settle Essel investments case

Sebi said that HDFC MF had paid a little over over Rs 4.20 crore towards the settlement. HDFC Mutual Fund has settled the matter pertaining to investments of Fixed Maturity Plans (FMPs) in debt instruments of Essel group companies with the markets regulator. The Securities and Exchange Board of India (Sebi) issued the settlement order in the matter of showcause notices issued to the asset management company. In its order, Sebi said that HDFC MF had paid a little over over Rs 4.20 crore towards the settlement. Market regulator had sent two show cause notices to HDFC AMC on May 10, 2019, in relation to their investments of FMPs in debt instruments of Essel Group companies. Later, on June 1, the regulator had initiating adjudication proceedings against country’s top fund house HDFC Trustee Company Ltd, managing director and a few other officials of the company, in relation to their investments of FMPs in debt instruments of Essel Group companies. Related News According to Sebi, applicants which includes HDFC AMC, HDFC Trustees and other officials of the fund house had filed settlement applications in terms of the SEBI (Settlement Proceedings) Regulations, 2018, proposing to settle, without admitting or denying the findings of fact and conclusions of law, through a settlement order. The HDFC AMC (the applicant no.1) had invested on behalf of the Mutual Fund in the debt instruments of Essel group of companies through various mutual fund schemes of HDFC Asset ManageRead More…

Aiming for great returns in a volatile share market? This simple trick could do the task 5

Aiming for great returns in a volatile share market? This simple trick could do the task

Diversification can be done in terms of sectors, market capitalization (large-cap/mid-cap/small-cap), or the investment instrument altogether. By Sandeep Bhardwaj Portfolio diversification is one of the most well-known subjects in the field of trading. However, it is also one of the most neglected ones, especially by new investors. Seasoned investors, nevertheless, keep their portfolios well balanced. They do it to a point that they even diversify their same asset investment across different markets around the world. Doing so minimizes associated risks while simultaneously improving the overall returns. So, if you are new to investing, here is why you should diversify your portfolio. Why should you diversify your portfolio? Related News Well, to be concise, neither the market nor its different sectors react in the same way as the other. So, while you might be observing growth in a particular segment or the market at large, there might be some sector bucking the trend. An inverse scenario can also be true. For instance, consider the current market situation. The stock markets have observed a virtual bloodbath and lost around one-fourth of their respective positions in the last two months. The Pharma and Healthcare sectors, on the other hand, have registered a growth of a similar nature in the due course. The same somewhat holds true for the FMCG sector. So, as a wise investor, you must diversify your portfolio to minimize the losses when there is market headwindRead More…

Gold prices rise today as weak oil prices increase bullion’s safe-haven appeal, silver rates slump 6

Gold prices rise today as weak oil prices increase bullion’s safe-haven appeal, silver rates slump

Globally, gold prices fell today after rising one per cent in the previous session as the dollar firmed Gold prices in India gained on Tuesday as investors rushed to safe-haven assets amid spiking coronavirus cases and a crash in US crude oil prices. Gold June futures were trading Rs 177 or 0.39 per cent higher at Rs 45,891 per 10 grams, while silver May futures were ruling lower at Rs 42,661 per kg on Multi Commodity Exchange (MCX). An unprecedented move in crude oil price, which plunged below zero to hit negative $40.32 a barrel, increased bullion’s safe-haven appeal. “Gold prices continue to move in a broad range amidst dwindling share markets as U.S. crude prices plunged and concerns about coronavirus-linked economic damage persisted,” Navneet Damani, VP, Motilal Oswal Financial Services, said. “As part of fourth stimulus deal, the US Congress inched toward a $450 billion deal to help small businesses and hospitals hurt by the coronavirus as the Senate set a Tuesday session for a potential vote on it,” Jigar Trivedi, Fundamental Research Analyst – Commodities, Anand Rathi Shares and Stock Brokers, told Financial Express Online. “Sentiments will be positive since investment demand has been supporting the prices”, Trivedi added. Globally, gold prices fell today after rising one per cent in the previous session as the dollar firmed. Spot gold eased 0.2 per cent to $1,689.45 per ounce. US gold futures fell 0.4 per cent to $1,704.60. Palladium rose 0.5Read More…

Oil prices collapse on storage fears, Asian equities mixed 7

Oil prices collapse on storage fears, Asian equities mixed

WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up. (Reuters photo) Oil prices collapsed to more than two-decade lows Monday as traders grow concerned that storage facilities are reaching their limits, while equities were mixed, with some support coming from signs that the coronavirus may have peaked in Europe and the United States. US crude benchmark West Texas Intermediate briefly plunged almost 20 percent to below $15 — its lowest since 1999 — as stockpiles continue to build owing to a crash in demand caused by the COVID-19 pandemic. Analysts said this month’s agreement between top producers to slash output by 10 million barrels a day was having little impact on the oil crisis because of lockdowns and travel restrictions that are keeping billions of people at home. Related News WTI was hit particularly hard as its main US storage facilities in Cushing, Oklahoma, were filling up. ANZ said “crude oil prices remained under pressure, as projections of weaker demand weigh on sentiment”. “Despite the OPEC+ alliance agreeing to an unprecedented cut in output, the physical market is awash with oil,” it said, referring to the Organization of the Petroleum Exporting Countries and non-OPEC partners. And AxiCorp’s Stephen Innes added: “It’s a dump at all cost as no one… wants delivery of oil, with Cushing storage facilities filling by the minute. “It hasn’t taken long for the market to recogniseRead More…

Sensex, Nifty gain 3% this week; check which factors to drive Dalal Street in coming week 8

Sensex, Nifty gain 3% this week; check which factors to drive Dalal Street in coming week

The announcement from the RBI has triggered a surge in the banking space which was underperforming for quite a sometime now Indian share market rallied on Friday after Reserve Bank of India (RBI) announced liquidity boosting measures to support the economy amid coronavirus pandemic. The rally in BSE Sensex and Nifty 50 was supported by the gains in banking and financial stocks which surged up to 21 per cent in Friday’s trade. During the holiday-shortened week, markets remained choppy and traded higher on optimism of the second stimulus package. By the close of the week, RBI announced a slew of measures to help to revive the economy. Both the headline indices Sensex and Nifty50 gained nearly 3 per cent during the week. S&P BSE Sensex jumped 986 points or 3.22 per cent to close the session at 31,589, while the broader Nifty 50 index settled at 9,266, up 275 points or 3.05 per cent. “The announcement from the RBI has triggered a surge in the banking space which was underperforming for quite a sometime now and sustained recovery in the auto pack further added to the buoyancy,” Ajit Mishra, VP – Research, Religare Broking Ltd, said, hailing the RBI’s move for the Indian markets as well as the economy. Financial stocks rally: The BSE Finance index surged 5.44 per cent in Friday’s trade. Equitas Holdings share price zoomed 21.15 per cent, Shriram Transport Finance Company shares gained 20 per cent, shares of J&K Bank soared 19.95 per cent and Indiabulls Read More…

Don’t press the panic button, just rebalance portfolio, here’s what to do in such volatile times 9

Don’t press the panic button, just rebalance portfolio, here’s what to do in such volatile times

With our Stock market’s in such a volatile scenario, Mutual Funds have also witnessed a huge fall in their Equity Scheme NAVs across and that has induced a worry situation in the minds of Investors. By Suren Kochhar We have been witnessing some very sharp movements in Equity and Fixed Income markets, Globally and in India. The Nifty 50 Index has fallen over 25%, Nifty Mid Cap 100 Index has fallen over 26% between January 1, 2020 to April 9, 2020.  The Indian 10 Year Benchmark Government Security, 6.45% 2029 has observed intraday yield movements between 6.692% (on January 14, 2020) to 5.995% (on March 9, 2020) in the period January 1, 2020 to April 9, 2020. We are surrounded by negative information around us related to economic growth and recession as well. Although, specific to mention here, in the past few days we have viewed some very swift positive moves by the Government and RBI on the Monetary and Fiscal Measures, these steps taken will definitely ensure our economy to gain momentum at the earliest. With our Stock market’s in such a volatile scenario, Mutual Funds have also witnessed a huge fall in their Equity Scheme NAVs across and that has induced a worry situation in the minds of Investors. Well, my clear advice here would be not to “PANIC”. Always remember, “Equities are Volatile and Volatility is a measure to make higher returns”.  So simply put, I would urge Investors to take a stock of their portfolios and analyze their curreRead More…

Sensex, Nifty climb off day’s highs, still up 2%; Key factors driving D-Street higher today 10

Sensex, Nifty climb off day’s highs, still up 2%; Key factors driving D-Street higher today

The top Sensex gainers were TCS, Power Grid, ICICI Bank and Maruti Suzuki. while Tech Mahindra, HUL, Titan were the losers The headline indices BSE Sensex and Nifty 50 were trading in positive territory on Friday as Reserve bank of India (RBI) announced 25 bps cut in reverse repo rate. Apart from this, firm global cues also supported the benchmark indices. BSE Sensex was trading 667 points or 2.18 per cent higher at 31,270, while the broader Nifty 50 was ruling at 9,183, up 191 points or 2.12 per cent. The top Sensex gainers were TCS, Power Grid, ICICI Bank and Maruti Suzuki. On the flip side, Tech Mahindra, HUL, Titan, Sun Pharma and Nestle India were the top Sensex laggards. “It would be difficult for markets to maintain the positive bias for long especially when the domestic factors are pointing otherwise. We suggest continuing with a hedged approach and maintaining a few shorts also,” Ajit Mishra, VP – Research, Religare Broking Ltd, said. 1. HFCs gain: Housing Finance companies shares gained up to 8.4 per cent after RBI announced a special refinance facility of Rs 15,000 crore to SIDBI, Rs 25,000 crore to NABARD, and Rs 10,000 crore to HFCs to support liquidity. India Home Loan share price surged 8.39 per cent, Indiabulls Housing Finance up was 8.4 per cent and LIC Housing Finance gained 6 per cent. Related News 2. RBI cuts reverse repo rate: Reserve Bank of India Governor Shaktikanta Das announced a 25 bps cut in reverse repo rate today. “Another cuRead More…