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<keyword id="40735" type="PERSON" weightage="20" keywordseo="Healthy">Healthy</keyword> buying in banking stocks as well as positive global cues powered the rise of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword>'s key equities indices during afternoon trade session on Wednesday. Accordingly, India's benchmark indices had a gap-up opening and continued to maintain their gains. In terms of sector specific basis, the top gainers were the BSE banking, pharma, energy and realty indices. At 12.20 p.m., the S&amp;P BSE Sensex traded at 52,417.06 points, higher by 141.49 points, or 0.27 per cent, from its previous close. On the other hand, the Nifty50 of the National Stock Exchange traded at 15,796.40, up by 56.30 points, or 0.36 per cent, from its previous close. "Markets are on a buying spree when compared to the previous month, this is mostly because of improving mood in the country with reducing Covid cases and positive global cues," said <keyword id="141795" type="PERSON" weightage="20" keywordseo="Gaurav-Garg">Gaurav Garg</keyword>, Head of Research at <keyword id="1056926" type="COMPANY" weightage="20" keywordseo="CapitalVia">CapitalVia</keyword>. "With the growth of India's GDP projection for calendar year 2021 by UN to 7.5 per cent. The Q4 results of 2020-2021 were good that raised markets to these levels." According to Jay Purohit, Technical &amp; Derivatives Analyst, MOFSL: "<keyword id="6354813" type="COMPANY" weightage="20" keywordseo="Nifty">Nifty</keyword> opened positive and after touching yet another record high of 15792 levels in the initial tick, it is now moving in a range." "It continues forming higher highs from the last five sessions and is taking support at 15700 but facing some resistance at 15800 levels. Volatility trades below 15 levels which supports the bulls to sustain at higher zones. Market breadth remains predominantly in favour of the advancing counters." SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/here-are-the-coolest-ios-15-features-coming-to-iphones/slidelist/83362145.cms">Here are the coolest iOS 15 features coming to iPhones</a> <a href="https://www.businessinsider.in/cryptocurrency/news/paraguay-could-become-the-second-country-to-adopt-bitcoin/articleshow/83363776.cms">After El Salvador, Paraguay considers Bitcoin adoption</a>

Sensex rises by  141 points, Nifty trading at 15,796 from its previous close

Mumbai, The Covid-19 virus not only triggered a <keyword id="8897085" type="UNKNOWN" weightage="20" keywordseo="worldwide-pandemic">worldwide pandemic</keyword>, but also opened the floodgates for investments in the country's equity market. All in all, not only did the overall capitalisation of India's <keyword id="6382118" type="UNKNOWN" weightage="20" keywordseo="domestic-market">domestic market</keyword> increased, the country's key indices emerged among the best performing emerging markets (EMs). Initially, the lockdown induced crash led to <keyword id="763912" type="PERSON" weightage="20" keywordseo="attractive-valuations">attractive valuations</keyword> along with a global flood of liquidity and near zero interest rates in foreign markets. As a result, return on investment from <keyword id="10500884" type="UNKNOWN" weightage="20" keywordseo="several-asset-classes">several asset classes</keyword> except equities vaporised. Investors jumped from one assets class to the other, till the time even the US dollar became unviable due to the massive stimulus package. Accordingly, the funnelling of such funds into the emerging markets led to a net investment of over $22 billion into India's market till now in CY2020. Besides foreign funds, the domestic lockdown, the biggest in the world, flooded the <keyword id="35199" type="PERSON" weightage="20" keywordseo="stock-markets">stock markets</keyword> with over 60 lakh new retail investors. Additionally, a considerable number enrolled through various schemes via the MF segment. Market watchers contend that these newbie investors saw the value in stocks beyond the pandemic induced slowdown and became the real beneficiaries of the up move. Till now in 2020, Indian markets witnessed FPI inflows of $22,281 million, which is 55% higher than the flows in the entire 2019 in USD terms. However, the domestic MF houses pulled out over ₹33,000 crore till November 2020. "Valuations are at 2SD (standard deviation) over the 10 year average, hence there is some caution on this front. However as long as interest rates continue to be zero or near zero across the globe, P/E ratios could keep expanding to levels not seen in the past," said Deepak Jasani, Head of Retail Research at HDFC Securities. In terms of purchase, FPIs initially preferred large cap stocks till October. Later on, they enlarged their purchases to include the mid and small cap segments. Sectorally, IT, pharma, banks, FMCG, metals, realty and oil &amp; gas stocks were bought the most by FPIs in this year. Apart from very high FPI inflows in 2020, large number of new investor registrations due to the Covid-19 pandemic has also contributed to the uprun in the market. "The huge stimulus rolled out by central banks across the developed world to tackle the pandemic in 2020 has certainly led to abundant liquidity. While it was expected that EMs would see strong FPI flows in 2020, the fact remains that only few emerging economies have seen such flows and India is one such country, especially given the slew of reforms undertaken in 2020," said LKP Securities' Head of Research, S. Ranganathan. "Having said that, it cannot be denied that lakhs of young first time equity investors have opened DEMAT accounts during 2020 and have invested into direct equities which is also a reflection of financialisation of savings," Ranganathan added. According to Gaurav Garg, Head of Research at <keyword id="1002876" type="COMPANY" weightage="20" keywordseo="CapitalVia-Global-Research">CapitalVia Global Research</keyword>: "Moving forward, FPIs may continue to concentrate in the Indian market for another 1-2 quarters. "The factors like low Covid-19 case count, expected vaccine in the first half of 2021, fear of valuations may go even higher and economic return to the growth trajectory are expected to potentially fuel more development in the emerging markets such as India." SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/india-will-have-to-pay-cairn-1-2-billion-ending-one-of-the-biggest-tax-disputes-of-the-decade/articleshow/79934284.cms">India will have to pay Cairn $1.2 billion ending one of the biggest tax disputes of the decade</a> <a href="https://www.businessinsider.in/stock-market/news/mrs-bectors-food-ipo-investors-saw-their-money-double-on-listing-day/articleshow/79934860.cms">Mrs Bector’s Food IPO investors saw their money double on listing day</a> <a href="https://www.businessinsider.in/thelife/personalities/news/from-taking-on-yahoo-to-being-tamed-by-chinas-communist-party-its-been-a-roller-coaster-decade-for-jack-ma/slidelist/79935613.cms">From taking on Yahoo to being tamed by China’s Communist Party— it’s been a roller coaster decade for Jack Ma</a>

Stocks attract over $22 billion as India emerges among best performing emerging markets

The Indian capital market is betting big on the upcoming <keyword id="2783177" type="UNKNOWN" weightage="20" keywordseo="Budget-2016">Budget 2016</keyword>. With the global markets not performing well, market analysts are hoping that the government will announce key policy reforms in order to keep <keyword id="6355178" type="UNKNOWN" weightage="20" keywordseo="Dalal-Street">Dalal street</keyword> up and running. 
 
“There are huge expectations from the government, as already the international markets are keeping Indian economy on edges, Thus all eyes are set on the budget which can bring some shine back on the Dalal street,” said Rohit Gadia, CEO of Capital Via, one of the largest pure play financial market research and consulting company . 
 
He added, “One of the major expectation of the industry is smoothening of administrative procedures around refund claims and valuations which are plagued with inordinate delays in assessments coupled with huge revenue deposits which result in uncertainty and blockage of working capital for companies. The Government should focus on these aspects.” 
 
The market is hoping that the government will look at eliminating red-tapism which in turn will prove to be a boon for the government’s startup India initiative. “Due to delays in these procedures, many start-ups die an eventual death. Reduction in Corporate Tax is expected to promote the business environment as it is unfavourable as compared to other emerging economies,” he noted. 
 
Talking about the equity market, Gadia explained that the government will have to come up with innovative ways to create incentives for investing in the long term equity markets. “Considering the increase in cost of living, we may expect rise in the current basic exemption limit of 2.5 lakh to Rs. 3 lakh. We believe the consequent revival in economic activity will further bolster India’s position as one of the fastest growing economies in the world,” he suggested. 
 
Apart from this, lowering of securities transaction tax and removal of dividend distribution tax is also expected to work well for the markets. “Strained tax receipts given the general economic slowdown, implementation of the seventh pay commission, need to boost the rural economy after two years of subnormal monsoon and necessity of infrastructure and social investments place increased demands on the expenditure side,” he added. 
 
Thus, the Union Budget 2016-17 has an important task to keep up the positive economic outlook of India by bringing in major indirect tax reforms and addressing business concerns. In addition, the passing of Constitutional Amendment Bill for GST in this budget session, will not only help the Government to set up a positive environment but also will be a giant step towards reinforcing the perception about India as the next investment destination.

Dalal street looks at Budget 2016 to keep the steam running!

Negative global cues along with inflationary worries and mild profit bookings subdued India's key stock indices -- S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- during the mid-afternoon trade session on Thursday. Initially, the two indices opened on a positive note. Among sectors, all of them traded in the red with loss leaders being Metals, Capital Goods, Auto, IT and Healthcare. At 2.30 p.m., the S&amp;P BSE Sensex of the BSE traded at 59,665.68 points, down 342.65 points or 0.57 per cent. It opened at 60,179.93 points from the previous close of 60,008.33 points. Similarly, the broader 50-scrip <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> at National Stock Exchange (NSE) traded lower. It traded at the 17,778.45 points, down 120.80 points or 0.67 per cent during the trade session. "Global markets are flat to mildly negative as traders weighed risks to the global recovery from the prospect of faster monetary-policy tightening to tackle inflation," said Deepak Jasani, Head of Retail Research, HDFC Securities. "Nifty has yet not breached 17,613 on the downside and hence large bearish moves can be ruled out for now." Likhita Chepa, Senior Research Analyst, CapitalVia Global Research, said: "Domestic sentiment is impacted by the negative cues from other Asian markets coupled with inflationary pressures partially driven by surging energy prices. "Our research suggests that if the 58,900-59,300 levels may act as an important support in the market. If the market sustained above 58,900, we can expect it to trade in the range of 58,900-60,200." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/apple-may-soon-open-physical-stores-in-mumbai-and-delhi-as-it-starts-hiring-for-different-roles/articleshow/87773561.cms">Apple may soon open physical stores in Mumbai and Delhi as it starts hiring for different roles</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/apps/news/google-pay-users-in-india-will-soon-be-able-to-interact-in-hinglish-split-bills-and-sell-their-products-online/articleshow/87774356.cms">Google Pay users in India will soon be able to interact in Hinglish, split bills and sell their products online</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/zomato-is-now-bigger-than-paytm-reasons-why-the-market-is-not-excited-about-vijay-shekhar-sharmas-vision-of-a-superapp/articleshow/87777762.cms">Zomato is now bigger than Paytm — reasons why the market is not excited about Vijay Shekhar Sharma’s vision of a superapp</a>

Concerns over high global inflation keep Indian equity markets under pressure

Healthy buying support along with expectations of positive cues from China rose India's key stock indices during the morning trade session on Wednesday. Accordingly, both key indices - S&amp;P BSE Sensex and NSE Nifty50 -- rose on hopes that Evergrande debt default may be avoided in the near term. Besides, market observers, said the up move comes on the back of healthy buying support for media, auto and <keyword id="133023" type="General" weightage="20" keywordseo="realty-stocks" source="Orion">realty stocks</keyword>. Sector wise, banking stocks traded lower. At around 11.10 a.m., S&amp;P BSE Sensex traded at 59,086.95 points, higher by 81.68 points or 0.14 per cent from its previous close. Similarly, NSE Nifty50 inched up. It rose to 17,579.65 points, higher by 17.65 points or 0.10 per cent from its previous close. "Expectations that Evergrande debt default may be avoided for the near term, has improved sentiments," said Deepak Jasani, Head of Retail Research, HDFC Securities. "Advance decline ratio is sharply positive. Markets need to maintain this firmness and 'A/D' ratio during the day to sustain confidence of traders or investors and see expansion in volumes." According to Gaurav Garg, Head of Research, CapitalVia Global Research: "Our research suggests that 17,450-17,500 will be an important support zone for the market to stay positive in the short term." "If the market sustains above this level, we can witness further higher levels of 17,850-17,900." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/experts-say-karnatakas-ban-on-games-of-chance-like-dream11-and-mpl-may-face-a-legal-test/articleshow/86419697.cms">Experts say Karnataka’s ban on games of chance like Dream11 and MPL may face a legal test</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tonetag-backed-by-amazon-and-mukesh-ambani-is-ready-to-go-beyond-payments-using-sound-waves-not-internet-and-smartphones/articleshow/86419124.cms">ToneTag, backed by both Amazon and Mukesh Ambani, is ready to go beyond payments using sound waves, not internet and smartphones</a>

Tech Mahindra, Tata Motors and other auto, realty stocks keep indices in positive range

Weak global cues as well as rising crude oil prices subdued India's key equity indices -- S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- during Tuesday's mid-afternoon trade session. Globally, stock markets weakened following a decline in the US overnight as rising crude oil prices accelerated concerns about prolonged inflation and <keyword id="531974" type="General" weightage="20" keywordseo="monetary-policy-tightening" source="Orion">monetary policy tightening</keyword>. Among sectors, consumer durables and realty have gained the most, whereas, IT and Telecom have lost the most. Consequently, the 30- scrip sensitive index traded at 60,181.97 points, around 2.30 p.m., up 46.19 points or 0.077 per cent from its previous close. Besides, the NSE Nifty50 ended at 17,966.05 points, up by 20.10 points or 0.11 per cent. "Nifty opened higher and made an intraday high during the first 10 minutes of the day. It later fell in line with other Asian markets and made low in noon," said Deepak Jasani, Head of Retail Research, HDFC Securities. "A gradual recovery followed. Volumes on the NSE are in line with the recent average and the advance decline ratio is even." According to Gaurav Garg, Head of Research, CapitalVia Global Research: "Traders were cautious as a private report stated that the Reserve Bank is likely to change the stance of its monetary policy and hike rates from the first quarter of 2022." "Some concern also came after the World Bank said that the debt burden of the world's low-income countries rose by 12 per cent as countries responded to the Covid-19 crisis with massive fiscal, monetary and financial stimulus packages." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/former-sbi-chair-rajnish-kumar-joins-bharatpe-to-guide-its-transformation-to-a-small-finance-bank/articleshow/86963500.cms">Former SBI chair Rajnish Kumar joins BharatPe to guide its transformation to a small finance bank</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/rbi-has-barred-one-of-the-countrys-top-auditors-from-looking-at-the-books-of-any-company-regulated-by-the-central-bank/articleshow/86961150.cms">RBI has barred one of the country's top auditors from looking at the books of any company regulated by the central bank</a>

IT stocks decline led by global cues, oil prices and subdued equity indices

Negative global cues along with profit booking pulled India's key equity indices -- S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- lower during Thursday's post-noon trade session. In the initial trade, the key indices opened on a flat note and started to fall from the opening. Globally, Asian stocks fell on Thursday amid concerns that the recovery from the pandemic will slow as elevated inflation forces tighter monetary policy. On the domestic front, volumes on the NSE were lower than recent average while the advance decline ratio was sharply negative. Among sectors, only the Capital Goods index traded in the green whereas Realty, Power, Oil &amp; Gas, Metals, Banks, Telecom and FMCG fell the most. At 12.40 p.m., the 30-scrip sensitive index traded at 60,510.16 points, down 633.17 points or 1.04 per cent. The Sensex opened at 61,081 points from its previous close of 61,143.33 points. Besides, the NSE Nifty50 traded at 18,014.75 points, lower by 196.20 points or 1.08 per cent. It opened at 18,187.65 points from its previous close of 18,210.95 points. "Morgan Stanley has downgraded Indian markets to equal weight. All these could lead to FPI unwinding and continued pressure on indices," said Deepak Jasani, Head of Retail Research, HDFC Securities. According to Likhita Chepa Senior Research Analyst at CapitalVia Global Research: "Indian equity benchmarks made a negative start on Thursday tracking weakness in global peers. Markets quickly extended their losses and are now trading lower, with each market losing more than half a percent in early trade." "Traders were wary since the October F&amp;O series contract was set to expire later in the day." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/fino-payment-ipo-how-to-apply-for-this-ipo-via-banks-and-trading-apps/articleshow/87330392.cms">Fino Payments Bank’s public issue opens tomorrow and here’s how you can easily apply for the IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-ports-share-price-tumbles-due-to-poor-results-myanmar-exit/articleshow/87328012.cms">Adani Ports share price tumbles due to poor results, Myanmar exit</a>

Indian equities fall led by global cues and weakness in ICICI Bank, ITC, HDFC Bank, ONGC

A sell-off in the Asian markets along with mixed early corporate results subdued India's key equity indices during the afternoon trade session on Thursday. Besides, inflationary concerns due to high transportation fuel prices dented sentiments. In contrast, the two key indices -- S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- had a gap-up opening. The 30-scrip sensitive index opened at 61,557.94 points from its previous close of 61,259.96 points. Besides, the NSE Nifty50 opened at 18,382.70 points from its previous close of 18,266.60 points. However, soon afterwards both the indices ceded much of their gains and traded flat. At 12.30 p.m., the 30-scrip sensitive index traded at 60,745.94 points, down 514.02 points or 0.84 per cent. Similarly, the NSE Nifty50 traded lower. It fell to 18,136.75, down 129.85 points or 0.71 per cent. Among sectors, consumer durables and IT fell the most whereas oil and gas' stocks rose. "Volumes on the NSE are a bit subdued while the advance decline ratio has improved compared to the past two days and is currently even," said Deepak Jasani, Head of Retail Research, HDFC Securities. "Nifty could see slower pace in its fall and intermittent attempts to bounce up." According to Gaurav Garg, Head of Research at CapitalVia Global Research: "The Indian Benchmarks has cut some of its losses in the late morning session. Negative cues from other Asian markets impacted the domestic sentiments." "The losses were led by shares of information technology companies and Index major Reliance Industries. Losses got cut, as the Indian economy revives from the global pandemic gains through nationwide rapid vaccination drive." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jios-september-earnings-to-be-driven-by-aggressive-subscriber-additions/articleshow/87178742.cms">Reliance Jio’s September earnings to be driven by aggressive subscriber additions</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/with-scoopwhoop-and-popxo-on-its-side-heres-what-myglamm-intends-to-do/articleshow/87177789.cms">With ScoopWhoop and POPxo on its side, here’s what MyGlamm intends to do</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/tesla-urges-indian-government-to-slash-import-taxes-on-electric-vehicles/articleshow/87177793.cms">Tesla urges Indian government to slash import taxes, requests a meeting between Elon Musk and Prime Minister Modi</a>

Equity market fall on inflation concerns, global cues; RIL, Infosys, TCS down 2%

India's key stock indices rose during the morning trade session on Tuesday. Accordingly, both key indices -- S&amp;P BSE Sensex and NSE Nifty50 -- rose a day after a sell-off which was triggered due to weak Asian cues. As per market observers, the up moves comes on the back of healthy buying support for Realty, Oil &amp; gas, IT and FMCG stocks. Sector wise, Auto, Consumer Durables and Utilities indices traded lower. At around 10.45 a.m., S&amp;P BSE Sensex traded at 58,568.67 points, higher by 77.74 points or 0.13 per cent from its previous close. Similarly, NSE Nifty50 traded higher. It rose to 17,424.30 points, higher by 27.40 points or 0.16 per cent from its previous close. "Nifty trades higher on Sept 21 on the back of steady Asian markets post the sell-off seen on Monday," said Deepak Jasani, Head of Retail Research, HDFC Securities. "The Fed is due to deliver its latest economic and interest rate policy update on Wednesday." According to Gaurav Garg, Head of Research, CapitalVia Global Research: "Investors have been pouring money into India's stock market, which could rise to more than $5 trillion and become the fifth largest in the world within years." "More support can come as India has climbed two spots to 46 in the Global Innovation Index (GII) 2021. It further stated that Indian start-ups had raised $10 billion through initial public offerings (IPOs) so far this year." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/just-the-interest-owed-by-chinas-property-giant-evergrande-is-bigger-than-punjab/slidelist/86389373.cms">Just the interest owed by China’s property giant Evergrande is bigger than Punjab</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/maggi-maker-nestle-says-more-than-60-of-its-employees-at-its-new-plant-in-gujarat-would-be-women/articleshow/86389803.cms">Maggi maker Nestle says more than 60% of its employees at its new plant in Gujarat would be women</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/collapse-of-evergrande-may-haunt-tata-steel-jspl-nalco-and-other-metal-stocks/articleshow/86387294.cms">The collapse of Evergrande, one of China’s largest home developers, is “not a Lehman moment” but the fear may haunt steel and metal stocks in India</a>

Bargain hunters help ONGC, UPL, Bajaj Finance and JSW Steel shares jump

Gold futures on the <keyword id="109771" type="CITY" weightage="20" keywordseo="Multi-Commodity-Exchange">Multi Commodity Exchange</keyword> (<keyword id="6355409" type="ORGANIZATION" weightage="20" keywordseo="mcx">MCX</keyword>) rose on Tuesday taking cues from international markets and rising concerns over Delta variant of Covid-19. The August contact of gold on the MCX is currently trading around ₹48,185 per 10 gram, higher by ₹91 from its previous close. Kshitij Purohit of CapitalVia Investment Adviser said: "<keyword id="520473" type="ORGANIZATION" weightage="20" keywordseo="LBMA">LBMA</keyword> Gold spot has resumed slightly gapped higher at $1,817.50, trading with positive momentum after sustaining above the support low of $1,795 in previous session. However, lower <keyword id="105472" type="ORGANIZATION" weightage="20" keywordseo="US-Treasury">US Treasury</keyword> yields in addition to concerns over the rising number of COVID-19 cases globally and its impact on the global economic recovery capped losses for the yellow metal." On the domestic futures, he said that the overall trend will be sideways to marginally bullish in today's session. Silver futures traded on a subdued note on Tuesday after opening higher. The September contract of silver on the MCX was trading at ₹67,228 per kg, lower by ₹18 from its previous close. Silver future opened on a positive note at ₹67,409, slightly gapped higher from previous closing, trading with sideways to moderately positive trend in Tuesday morning. "The price dropped in previous session as dollar edged higher, weighing on silver and generating headwinds for the entire precious metals complex. US Yields moved lower as investors moved into safe-haven assets. The <keyword id="1735090" type="PERSON" weightage="20" keywordseo="home-builders">Home Builders</keyword> index edged slightly lower, which paved the way for lower yields," Purohit said. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/swiggy-raises-1-25-billion-in-a-mega-round-of-funding-led-by-softbank-and-prosus/articleshow/84578974.cms">Swiggy gets a $1.25 billion cheque from Softbank for the same reason Zomato went for an IPO</a> <a href="https://www.businessinsider.in/tech/news/how-to-find-out-if-your-phone-is-infected-by-the-pegasus-spyware/articleshow/84578193.cms">This toolkit will tell you if your phone is infected by the Pegasus spyware</a> <a href="https://www.businessinsider.in/tech/news/youtube-acquires-two-year-old-indian-video-commerce-startup-simsim/articleshow/84576418.cms">YouTube acquires two-year old Indian video commerce startup simsim</a>

Gold futures on Multi Commodity Exchange rise on global cues, rising concerns of COVID-19 'Delta' variant

India's key stock indices rose during mid-afternoon trade session on Thursday to reach new intra-day record high levels. Accordingly, both key indices - S&amp;P BSE <keyword id="6484188" type="General" weightage="20" keywordseo="sensex" source="Orion">Sensex</keyword> and NSE Nifty50 -- made new record highs. The Sensex crossed the 59,000 mark, while Nifty breached the 17,500 level. As per market observers, the up moves comes a day after government announced support measures for some beleaguered sectors along with provisions for PLI schemes for others. Initially, both key indices had a gap-up opening. However, global cues capped gains as Asian markets were largely weak as the debt crisis at China Evergrande Group and Beijing's latest push to rein in private industries hurt sentiments. Among sectors, <keyword id="6354776" type="General" weightage="20" keywordseo="telecom" source="Orion">Telecom</keyword>, <keyword id="6368751" type="General" weightage="20" keywordseo="banks" source="Orion">Banks</keyword> and FMCG indices rose the most. At 2.00 p.m., S&amp;P BSE Sensex traded at 59,057.82 points, higher by 334.62 points or 0.57 per cent from its previous close. Similarly, NSE Nifty50 traded higher. It rose to 17,599.70 points, higher by 80.25 points or 0.46 per cent from its previous close. "Volumes picked up further in the morning session but has cooled off a bit post noon," said Deepak Jasani, Head of Retail Research, HDFC Securities. "Advance decline ratio has fallen to just above 1:1 suggesting profit taking in broader markets." According to Likhita Chepa, senior Resaerch Analyst, CapitalVia Global Research: "Sentiments got boost as government has approved a big-bang relief package for the stressed telecom sector." "Our research suggests that if the market is able to sustain the level of 58,900, we can witness higher levels of 59,000-59,100 as the momentum indicators like 'RSI' and 'MACD' to stay positive and market breadth to improve, further strengthening a short-term bullish outlook." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/after-selling-their-previous-startup-to-quikr-zefo-founders-are-building-an-oyo-for-hospitals/articleshow/86256238.cms">After selling their previous startup to Quikr, Zefo founders are building an OYO for hospitals</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/itc-surprises-investors-by-rallying-7-5-suddenly-today/articleshow/86255237.cms">ITC finally starts rallying, but twitter can't stop trolling it</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/sansera-engineering-ipo-last-day-for-subscription-grey-market-indicates-10-premium/articleshow/86255105.cms">Last day to bid for auto components maker Sansera Engineering IPO; grey market indicates ₹10 premium</a>

Sensex tops 59,000 mark, Telecom stocks soar

<ul><li>Nifty dipped below 17,200 and Sensex went below 57,500 as a new COVID-19 strain was found in Africa.</li><li>Multiplexes and restaurants had noticed a recovery in their stock prices only a few months back.</li><li>INOX and PVR stock dipped over 8%, whereas Barbeque Nation and Jubilant FoodWorks dipped over 3%.</li></ul>The concerns over a new strain of COVID-19 virus has once again left the Indian stock markets under a lot of stress, with Nifty going below 17,200 and BSE Sensex dipping below 57,500. The stock prices of multiplexes, hotels and restaurants witnessed a sharp decline as retail investors expect the situation to worsen. “The Indian benchmarks have a gap down opening today tracking weak Asian markets. Traders will be concerned as WHO [World Health Organization] flags the new COVID-19 strain,” Likhita Chepa, senior research analyst at CapitalVia Global Research said. The new Coronavirus strain found in South Africa on Thursday followed by the lockdown across a few European countries have left a deep impact on the Indian stock markets. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock price change </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">INOX Leisure </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multiplex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.21% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">PVR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Multiplex </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-10.89% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Barbeque Nation </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-5% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Burger King </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-3.70% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Speciality Restaurant (operates Mainland China) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.87% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Jubilant FoodWorks (operates Domino’s India) </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Restaurant </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.88% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Indian Hotels Company Limited </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Hotel </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-11.24% </td></tr></tbody><tbody></tbody><tbody></tbody></table>Note: Share prices as of 3:30 p.m., on November 26 Notably, the multiplexes and restaurants had noticed a recovery in their stock prices only a few months back as people got more comfortable in stepping out of their house and getting back to the normal routine. While restaurants were still operating both online and offline from June 2020 onwards, multiplexes had lost that option as well. It was only in October 2020 that the multiplexes were allowed to open in a staggered manner with a capacity of <a href="https://economictimes.indiatimes.com/news/politics-and-nation/unlock-5-0-multiplex-operators-welcome-govts-directive-to-open-cinemas-with-50-capacity/videoshow/78420998.cms">50%</a>. The industry had faced another hit in April-June 2021 as the country was battling the second wave of COVID-19. “We believe India is not in panic mode and investors should make use of this selloff as a buying opportunity. The new variant should not be a great matter of concern for us and we suggest investors with suitable risk appetite to consider and start allocating money into markets who have missed the rallies,” Prashanth Tapse, vice president of Research at Mehta Equities, said. SEE ALSO <a href="https://www.businessinsider.in/international/news/gautam-adani-the-man-who-may-soon-be-asias-richest-person-is-a-college-dropout-who-survived-the-2008-mumbai-terrorist-attack-and-was-once-reportedly-kidnapped-for-2-million/articleshow/87910193.cms" data-type="tilCustomLink">Gautam Adani, the man who may soon be Asia's richest person, is a college dropout who survived the 2008 Mumbai terrorist attacks and says he was once kidnapped for ransom</a> <a href="https://www.businessinsider.in/business/startups/news/interview-these-former-isro-scientists-are-hoping-for-the-biggest-ever-funding-in-the-indian-spacetech-industry/articleshow/87911503.cms">INTERVIEW: These former ISRO scientists are hoping for the biggest-ever funding in the Indian spacetech industry</a> <a href="https://www.businessinsider.in/india/news/earthquake-of-6-1-magnitude-hits-india-myanmar-border-region/articleshow/87922521.cms">Earthquake of 6.1 magnitude hits India-Myanmar border region</a>

Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant

With India's economic recovery catching a faster pace, the next <keyword id="5966195" type="General" weightage="20" keywordseo="multibagger-stocks" source="Orion">multibagger stocks</keyword> might emerge from sectors like power, tourism, realty and IT sectors. Lately, banking, PSUs and even the stocks of brokerage firms have shown an upward trend. However, steep valuations have somewhat subdued investors' interest, said industry experts. Nonetheless, an accelerated economic recovery has boosted demand for sectors such as power and tourism. Consequently, stocks of companies in these sectors hold potential for giving future healthy returns. "IT sector has seen tremendous growth in the last two years since the lockdown as more and more companies move towards making themselves digitally equipped to tackle any such situation in the future," said Vijay Dhanotiya, Senior Research Analyst, CapitalVia Global Research. "We have also seen strong demand environment, sustained margins and improved cash flows which is expected to continue and hence we believe it will be one of the outperforming sectors in the market." Besides, he cited <keyword id="997729" type="General" weightage="20" keywordseo="power-sector-stocks" source="Orion">power sector stocks</keyword> to hold great potential. "Indian power sector has seen outstanding demand growth and India has become the fourth largest energy consumer in the world. Power sector has also seen growth due to the government policies as well as the demand increases. "Indian government has allowed 100 per cent FDI in the sector and has allowed the private players to enter the market. The sector is seen as one of the top outperforming sectors as the demand of energy is sought to increase at an unprecedented pace." Furthermore, MOFSL's advisory subsidiary Teji Mandi, CIO Vaibhav Agrawal said that travel and tourism sector is expected to "do well on account of the opening up of the economy and revenue consumption". "Even real estate as a sector is at an inflection point on account of low interest rates, tax savings on buying houses and increase in people's affinity to buy houses." "Furthermore, resumption of office life should help to increase demand for commercial real estate as well." According to Rahul Sharma, Co-Founder, Equity99, sectors such as real estate, specialty-chemicals and automobiles are guiding the next stage of rally. "This sector (specialty-chemicals) has sawn some correction in recent times due multi-fold rise in raw-material prices," Sharma said. "However, considering the increasing demand and steady increase in end products price by companies we expect the raw material price increase to not have significant impact." In addition, he pointed out that automobile sector has taken a huge hit by chip shortage crisis and is available at "good discount". "However, we think that correction in this sector is over and is ready for next stage of up-move." "Also there has been significant demand for EV vehicles and most companies are launching many EV models. We are bullish on this sector and expect a good move here." SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/nykaa-vs-itc-memes-are-hilarious-but-it-may-not-be-the-right-comparison/articleshow/87755496.cms">Nykaa vs ITC memes are hilarious but it may not be the right comparison</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/the-excitement-around-go-fashion-ipo-is-making-money-for-shareholders-of-tcns-clothing-too/articleshow/87756224.cms">The excitement around Go Fashion IPO is making money for shareholders of TCNS Clothing too</a>

You Searched For "CapitalVia" and got 13 results

Sensex rises by 141 points, Nifty trading at 15,796 from its previous close

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Dalal street looks at Budget 2016 to keep the steam running!

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Concerns over high global inflation keep Indian equity markets under pressure

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Tech Mahindra, Tata Motors and other auto, realty stocks keep indices in positive range

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IT stocks decline led by global cues, oil prices and subdued equity indices

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Indian equities fall led by global cues and weakness in ICICI Bank, ITC, HDFC Bank, ONGC

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Equity market fall on inflation concerns, global cues; RIL, Infosys, TCS down 2%

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Bargain hunters help ONGC, UPL, Bajaj Finance and JSW Steel shares jump

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Gold futures on Multi Commodity Exchange rise on global cues, rising concerns of COVID-19 'Delta' variant

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Sensex tops 59,000 mark, Telecom stocks soar

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Shares of PVR, INOX, Burger King, Barbeque Nation tumble as investors panic over the new COVID-19 variant

Kritti Bhalla

Next multibagger stocks might emerge from sectors like power, tourism, realty and IT sectors

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