Mumbai: Indian equity investors are facing a great dilemma: benchmark stock indices hover near record highs when economic growth is near multi-quarter lows. The BSE Sensex closed just shy of its lifetime high on Wednesday. After scaling a new intra-day record of 40,816, the 30-share index ended 181 points, or 0.45%, higher at 40,651, 2 points short of its all-time closing high, hit on November 7, 2019. Nifty closed just below the crucial 12,000 mark, advancing 59 points, or 0.49%, to end at 11,999. But the broader market is telling a different story, indicating that only a narrow band of stocks are supporting the rally. “It is only at the index level and a narrow list of stocks that are making it look like the market is doing very well. The broader market has not been in a great shape for the past couple of years,” said Gautam Chhaochharia, Head of Research at UBS Securities. BSE-500 index closed at 15,461 on Wednesday, and was 2.67 per cent, or 426 points, away from … [Read more...] about What’s driving stock market to record high despite multi-quarter low growth?
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Mumbai: The domestic stock market ended flat on Thursday, but stock-specific movements kept the traders busy throughout the day. While telecom stocks such as Vodafone Idea and Bharti Airtel plunged despite some government relief, Zee Entertainment spiked on stake sale by the promoters. Stocks fell in line with weakness in global peers after US legislation on Hong Kong raised investor apprehension that a US-China trade deal would not be sealed anytime soon. Sensex closed 0.19 per cent or 76.47 points lower at 40,575.17, while the 50-share Nifty dropped 0.26 per cent or 30.70 points lower at 11,968.40. “The consolidation phase below 12,000 continued. The region around previous all-time high of 12,100 is witnessing some profit booking. It is not at all unexpected to witness some retracement near all-time highs. Broader structure continues to remain positive and the uptrend is intact. Near term corrections towards the support zone should be utilized to build long positions,” … [Read more...] about After Market: Telecom shares bleed, Zee rallies; 57 stocks hit 52-week lows
A day after touching record high, Sensex lost steam on November 21 as investors took money off the table in the light of weak global cues.Most global markets were in the red as concerns resurfaced over the US-China trade deal after the US House of Representatives on November 20 passed two bills to support protesters in Hong Kong and send a warning to China about human rights.Nifty traded lacklustre and settled marginally lower, taking a breather after the recent up move. It opened flat and remained rangebound thereafter.Close Movement on the stock-specific front kept the traders busy till the end. related news Bullish on Bank Nifty: Gautam Shah, Goldilocks Premium Research Don’t miss! Stocks from life insurance and AMC likely to be included in Sensex & Nifty Closing Bell: FM's PSU divestment fails to cheer D-Street; ZEE hogs the limelight Sensex settled 76 points, or 0.19 percent lower at 40,575.17, while Nifty closed at 11,968.40, with a loss of 31 points or 0.26 … [Read more...] about Taking Stock: Market ends lacklustre as investors book profits at record highs
New Delhi: Sebi on Thursday informed all capital market stakeholders about FATF (Financial Action Task Force) sanctions against Iran and North Korea, and also referred to global watchdog's observations about Pakistan being among the countries having strategic deficiencies. The development comes following a global caution notice from the FATF, the global oversight and policy-framing body for rules to combat money laundering and terror funding risks to international financial market. FATF periodically issues such public notices to various foreign governments, which subsequently forward the same to their respective financial regulators. It has previously also issued such warnings for risks attached with Iran and North Korea, and the subsequent caution notices have been issued by Sebi and the Reserve Bank of India. In the latest cautionary notice dated October 18, FATF has called on its members and other jurisdictions to apply "counter-measures to protect the international financial … [Read more...] about Sebi informs market stakeholders about FATF’s sanctions against North Korea, Iran
VietBank will issue shares for its existing shareholders and employees to raise its capital to 181 million USD. (Photo: VNA) Hanoi (VNS/VNA) - The Vietnam Thuong Tin Commercial Joint Stock Bank (VietBank) targets to list its shares on the Unlisted Public Company Market (UPCoM) within a year of increasing charter capital to more than 4.25 trillion (181 million USD) in 2018. According to a resolution released recently, VietBank will issue shares for its existing shareholders and employees to raise its capital by more than 1 trillion VND (42.5 million USD). Nearly 91 million shares for existing shareholders and more than 9.7 million ESOP (employee stock ownership plan) shares will be offered at the price of 10,000 VND a piece, based on the bank’s book value of 10,247 VND per share by December 31, 2017. Existing shareholders and the bank’s employees will be allowed to buy the shares at the ratio of 100:28. Existing shareholders can transfer the right … [Read more...] about VietBank to raise charter capital before listing on UPCoM