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<ul><li>The Indian stock indices opened flat on Thursday, a day after Trump’s victory.</li><li>FIIs continued to remain net sellers in the Indian market in November.</li><li>The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> index opened flat at 24,489.60 points, while the <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> index was down to 80,248.60 points</li></ul>Indian stock markets opened flat with a marginal dip on Thursday after Donald Trump's victory, while FIIs continued to remain net sellers in Indian markets. The Nifty 50 index opened flat at 24,489.60 points, while the BSE Sensex index was down marginally by 0.16% during early trade to 80,248.60 points. Experts noted that global markets supported Trump's victory on Wednesday, and his success in the elections is expected to be more potentially transformative than initially thought. However, his decisions could have both positive and negative impacts on different sectors. "The Trump victory is turning out to be more potentially transformative than thought earlier. With the Congress and the Senate coming under Republican control and President Trump exercising power without bothering about another term in office, hugely transformational decisions are possible in the months following Trump's assumption of office. These decisions may turn out to be both good and bad" said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services. "His pro-business initiative of 'America First' can strengthen the American economy. But if he walks his talk and imposes a 60% tariff on Chinese imports and a 10 to 20% tariff on imports from other countries, that would trigger inflation and jeopardise the Fed's policy of containing inflation, necessitating a rethink of the Fed's present policy of rate cut. This has the potential to negatively impact global stock markets,” Vijayakumar added. In the sectoral indices, a mixed performance was seen on the National Stock Exchange, with Nifty Auto, Nifty Pharma, Nifty IT, and Nifty FMCG gaining, while Nifty Bank, Nifty Metal, and Nifty Private Bank declined. In the quarterly announcements today, Mahindra &amp; Mahindra, Trent, Rail Vikas Nigam, Linde India, Lupin, NHPC, and Aditya Birla Fashion &amp; Retail are some of the major companies set to announce their second-quarter financial performance. In other Asian markets on Thursday, Japan's Nikkei index was down marginally by 0.4%, while Hong Kong's Hang Seng gained 0.68%. Taiwan's weighted index also rose by 1.07%, and South Korea's KOSPI index was up by 0.41%. In China, the Shanghai Composite also gained 0.75% after Trump's return. U.S. markets on Wednesday rallied on Trump's victory, with the S&amp;P 500 and Nasdaq indices both surging more than 2%. “US is the largest market for India's $254 bn tech sector where its overall contribution is $80 bn to US GDP. Importantly, the industry plays a key role in supporting US companies in strengthening the US economy. Conversely, India is a prime destination for American businesses, with over 1,000 U.S. companies that are driving innovation and leveraging India’s digital infrastructure to create competitive solutions,” said Indian trade body Nasscom in a statement. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/skoda-kylaq-suv-launched-in-india-starting-at-7-89-lakh/articleshow/115013668.cms">Skoda Kylaq SUV launched in India starting at ₹7.89 lakh</a> <a href="https://www.businessinsider.in/stock-market/webstories/swiggy-ipo-gmp-risk-factors-and-all-you-need-to-know/slidelist/115004939.cms">Swiggy IPO – GMP, risk factors and all you need to know</a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-indias-biggest-telco-to-go-public-in-2025-retail-ipo-further-away/articleshow/114944496.cms">Reliance Jio IPO – India’s biggest telco to go public in 2025, retail IPO further away</a>

Nifty and Sensex continue downward trend, selling continues despite Trump's victory

Benchmark indices <keyword id="6354813" type="General" weightage="20" keywordseo="nifty" source="Orion">Nifty</keyword> and Sensex recovered from their losses last week to close in greens on Monday. While Sensex inched up over 690 points to close at 79,476.63 points, Nifty closed the day over the 24k mark, at 24,213.30, up by 217 points. During the day, Sensex had soared 740.89 points, or 0.94%, to touch 79,523.13 points. From the 30-share Sensex pack, JSW Steel surged nearly 5% while Tata Steel jumped nearly 4%. Axis Bank, IndusInd Bank, HDFC Bank, State Bank of India, Kotak Mahindra Bank, and UltraTech Cement were also among the big gainers. On the other hand, Tech Mahindra, Lupin, Britannia, and Infosys were among the major laggards on Sensex. On Nifty, where 39 stocks advanced during the day and the remaining 11 saw declines, Tata Steel, Hindalco, and JSW Steel were among the top gainers. Adani Ports, ITC, Bharti Airtel, and Asian Paints were among the leading laggards. In Asian markets, Tokyo, Shanghai, and Hong Kong settled in the positive territory, while Seoul ended lower. Yesterday, the BSE benchmark tumbled 941.88 points, or 1.18%, to settle at 78,782.24, the lowest closing level since August 6. The Nifty had also tanked 309 points, or 1.27%, to close at 23,995.35. Foreign Institutional Investors (FIIs) continued with their hefty exodus, offloading equities worth Rs 4,329.79 crore today, according to exchange data. So far in November, DIIs (domestic institutional investors) have put in Rs 2,558.75 crore in Indian markets. Global oil benchmark Brent crude climbed 0.60% to $75.53 a barrel today. <h2>Banks, metals lead the party</h2> Aditya Gaggar, Director of Progressive Shares, explains that while bears dominated the first half of trading session by dragging the index lower; it was the banking counters that led to a sharp up move and pushed the index higher from its previous session's low. The Metal stocks also joined the party and pushed the index further higher to end the session at 24,213.30 with gains of 217.95 points. Mid and smallcaps also advanced but underperformed the frontline index", he added. Today's rally was largely led by banking scrips. The BSE Bankex jumped a staggering 1,218.58 points during the day. On NSE, both banks and financial services indices inched up by 1.94% and 1.98% respectively during the day. While PSU bank counters were up by 1.84%, private banks surged ahead with a 1.94% growth during the day. Metals were amidst the highest gainers, rising 2.84% during the day. All broad market indices closed the day in green, except for India VIX, which tumbled 4.08%.

Sensex, and Nifty rebound to greens, metals and banks lead the rally on bourses today

<ul><li>Amid positive trends in global markets, <keyword id="19991358" type="General" weightage="100" keywordseo="Indian-markets" source="keywords">Indian markets</keyword> opened with gains on Monday.</li><li>This comes after the Indian markets lost over 4% in the last week.</li><li>The <keyword id="20641216" type="General" weightage="20" keywordseo="Nifty-50" source="keywords">Nifty 50</keyword> opened at 25,084.10 points, surging by 69.50 points, while the <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> opened at 81,852.01, with a gain of 163.56 points.</li></ul>On Monday, the Indian stock market got off to a great start, following the positive trend in markets around the world. Last week, the Indian market had a bad week, losing more than 4%. The Nifty 50 index started strong, reaching 25,084.10 points. This was a gain of 69.50 points, which is a 0.28% increase. The BSE Sensex also had a good start, opening at 81,852.01 points. This was a gain of 163.56 points, or 0.20%. Market experts think that the Indian market will likely continue to do well this week. But there are a few things that could make the market less certain, like geopolitical tensions and the start of the earnings season. "We are expecting better Indian markets this week, with a contingent condition that the Middle East conflict does not expand further. Earnings start later in the week, and hopefully, markets will have to contend with analysing economic news breaks rather than the burgeoning geopolitical risk that has become standard fare since the Oct 7th, 2023 attack on innocent civilians" said Ajay Bagga, Banking and Market Expert. Among the sectoral indices, Nifty IT surged more than 1% during opening, with major IT companies, including TCS, set to announce their quarterly results this week. Nifty IT was followed by Nifty Metal in gains, with the latter rising by more than 0.9% at the time of filing this report. In the list of top gainers, <keyword id="19896958" type="General" weightage="20" keywordseo="ITC" source="keywords" meta.keywordsubtype="org" meta.entityname="ITC" meta.hostid="261" meta.entityid="ITC">ITC</keyword>, Trent, and <keyword id="19950207" type="General" weightage="20" keywordseo="HCL-Tech" source="keywords" meta.keywordsubtype="org" meta.entityname="HCL Tech" meta.hostid="261" meta.entityid="HCL Tech">HCL Tech</keyword> emerged as leaders in Nifty 50, while Titan, Hindustan Unilever, and Britannia were among the top losers. "The near-term uptrend for Nifty 50 has sharply turned down, with support at around 25,000. A potential minor bounce early this week, yet caution against holding long positions due to market volatility. A decisive move below 25,000 could trigger further declines towards 24,500" said Varun Aggarwal, MD, Profit Idea. The other Asian markets also rallied on Monday, Japan's Nikkei 225 index surged more than 1.8% while Hong Kong's Hang Seng up by 1.2%. The markets of South Korea and Taiwan also gained more than 1% at the time of filing this report. With inputs from ANI. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/september-auto-sales-automakers-report-a-decline-mahindra-and-mahindra-overtakes-tata-motors/articleshow/113925972.cms">September Auto sales – Automakers report a decline, Mahindra and Mahindra overtakes Tata Motors</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-continues-to-lose-market-share-as-bajaj-auto-and-tvs-motor-gain/articleshow/113900252.cms">Ola Electric continues to lose market share as Bajaj Auto and TVS Motor gain</a> <a href="https://www.businessinsider.in/business/telecom/news/airtel-is-using-ai-powered-technology-to-block-spam-calls-and-messages/articleshow/113691942.cms">Airtel is using AI-powered technology to block spam calls and messages</a>

Nifty Sensex breaks five-session losing trend, experts predict positive outlook this week

The <keyword id="19925636" type="General" weightage="20" keywordseo="stock-market" source="keywords">stock market</keyword> closed in the green, with benchmark indices hitting new all-time highs at the end of closing sessions on Monday. The <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> surged by 384.30 points, closing at 84,928.61, while the NSE <keyword id="19896381" type="General" weightage="20" keywordseo="Nifty" source="keywords">Nifty</keyword> gained 148.10 points to settle at 25,939.05. Both indices ended the session driven by strong buying in sectors like auto, oil and gas, and <keyword id="19976433" type="General" weightage="20" keywordseo="financial-services" source="keywords">financial services</keyword>. Out of the Nifty 50 companies, 34 stocks advanced, while 16 declined. Bajaj Auto, Mahindra &amp; Mahindra (M&amp;M), ONGC, Hero Motocorp, and SBI Life emerged as the top gainers, contributing significantly to the market's rise. On the flip side, Eicher Motors, ICICI Bank, Divi's Labs, Wipro, and IndusInd Bank were the top losers, experiencing profit booking after recent rallies. The market's bullish momentum was largely influenced by anticipation surrounding the <keyword id="19899810" type="General" weightage="20" keywordseo="Reserve-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Reserve Bank of India" meta.hostid="261" meta.entityid="Reserve Bank of India">Reserve Bank of India</keyword>'s (RBI) Monetary Policy Committee (MPC) meeting to be held October 7 to 9 and its decision on the repo rate. As the market gears up for potential rate cuts, India VIX, a volatility index, spiked by more than 9 per cent, also reflecting investor caution. VLA <keyword id="19958748" type="General" weightage="20" keywordseo="ambala" source="keywords">Ambala</keyword>, Co-Founder of Stock Market Today, commented on the session's performance, highlighting the role of macroeconomic factors. "In today's session, the India VIX rose more than 9 per cent as the market awaits the MPC policy and <keyword id="21977342" type="General" weightage="20" keywordseo="repo-rate-cut" source="keywords">REPO rate cut</keyword> decision. Notably, India's fast composite PMI recorded a slightly slower growth in September. This is the slowest rate of growth in 2024 for the manufacturing and service sectors," she said. "According to me, to remain globally competitive, the RBI needs to match the US Fed rate, which will create a significant difference between India's lending growth and the long-term FD rates," she added. Ambala emphasized the importance of the RBI's decision in maintaining India's global competitiveness, particularly in comparison to the US Federal Reserve's rates. She noted that any repo rate cut by the RBI could inject more liquidity into the economy, potentially spurring a bullish trend in the equity market and benefiting asset classes like real estate. "If the RBI chooses a REPO rate cut, it will inject more liquidity into the economy, likely fueling a bullish market trend. On the other hand, account holders could enjoy better returns in asset classes such as the equity market and real estate," she said. "The banking and NBFC sectors are already responding to the potential rate cut, and we may see a decline of 100-200 bps points in the next 1.5 years. Since the market has been resilient, I believe it will adapt quickly to these economic changes," Ambala added. Currently, major indices such as Nifty, Bank Nifty, Financial Services, Mid Cap 100, Mid Cap 150, Next 50, FMCG, Consumption, Metal, Infrastructure, and Auto are trading at all-time highs. Sectors like NBFCs, Realty, Infrastructure, and PSU stocks are expected to remain in focus as potential rate cuts could open up significant opportunities for mid-term investors. The technical indicators show that the broader trend remains bullish, with the Relative Strength Index (RSI) for Nifty standing at 74 on the daily, 75 on the weekly, and 83 on the monthly timeframe. However, Ambala advised investors to approach the market cautiously. "The Nifty index can expect support levels at 25,870 and 25,680 with resistance at 26,050 and 26,130 in the next market session," she stated.

Sensex soars to 84,928, Nifty settles at 25,939 as stock market closes at all-time high

Amid the ongoing selling in the Indian stock markets, the growth in the demat accounts also declined in October, highlighted a report by ICICI Securities The report highlighted that after a strong four-month period where monthly additions to demat accounts exceeded 4 million, October 2024 saw a decline in new demat accounts. It also added that the total number of accounts added in October fell to 3.45 million, down from 4.36 million in September 2024. This dip breaks the streak of steady growth in demat accounts, suggesting a possible shift in <keyword id="20030258" type="General" weightage="20" keywordseo="investor-sentiment" source="keywords">investor sentiment</keyword> or market conditions. "Demat accounts additions fall below 4 million after four months After four consecutive months of more than 4 million <keyword id="23912333" type="General" weightage="100" keywordseo="Demat-account-additions" source="keywords">demat account additions</keyword> in a month," the report said. Among depositories, the Central Depository Services Limited (CDSL) maintained a strong lead in market share. In October 2024, CDSL's share of total and incremental demat accounts stood at 79% and 90%, respectively. Meanwhile, individual investor activity showed mixed trends in September 2024 across different market segments. The report stated that the number of individual investors actively trading in the National Stock Exchange's (NSE) cash market increased slightly. In September, 15.8 million individual investors traded at least once, marking a 1.9% increase from 15.5 million in August. Over the first half of the financial year (6MFY24), a total of 29.4 million individuals participated at least once in the cash market, compared to 30.7 million for the full FY24. However, participation in the equity derivatives segment saw a downturn. The number of individual investors trading at least once in a month on the NSE's equity derivatives segment dropped by 3.6 % in September, falling to 4.46 million from 4.66 million in August. For the first half of FY24, a total of 8.7 million individuals participated in the derivatives market, a decline from 9.6 million for the entire FY24. This decline indicates a reduced interest in derivative trading among individual investors, possibly due to increased volatility or changing market preferences. The report said, "A total of 29.4 million individuals have participated at least once in 6MFY24 vs. 30.7 million in FY24. Individual investors, who traded at least once in a month on NSE's equity derivatives segment, declined 3.6% MoM in Sep'24 to 4.46 million vs. 4.66 million in Aug'24". The dip in both new demat accounts and derivatives participation among individual investors suggests a cautious outlook among retail participants. As global economic conditions remain uncertain, domestic markets face volatility amid the continued selling by foreign investors.

New Demat account additions drop to 4-month low in October as market declines, notes report by ICICI Securities

<ul><li>The global foldable smartphone shipments have declined by 1% in Q3 2024.</li><li>Samsung has emerged as the top company in foldable smartphone shipments in Q3 2024.</li><li>Samsung continues to account for over half of the market share, despite a huge decline in shipments.</li></ul>The global foldable smartphone shipments declined for the first time in Q1 2024, recording a 1% year-on-year decline. This marks the first decline for foldable smartphones in Q3. According to a report by Counterpoint Research, one of the factors for the decline in shipments was Samsung’s<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-review/articleshow/112497472.cms"> Galaxy Z Fold 6</a> and<a href="https://www.businessinsider.in/tech/mobile/news/samsung-galaxy-z-fold-6-galaxy-z-flip-6-galaxy-ring-and-more-launched/articleshow/111637913.cms"> Galaxy Z Flip 6</a> smartphones not performing as expected. <div type="Article" hostid="261" msid="112497472" title="Samsung Galaxy Z Fold 6 review – the complete package" mstype="2" mssubtype="0"></div> “The global foldable market appears to have entered a transitionary phase where it is facing challenges as it progresses from a niche segment to the mainstream. User satisfaction is particularly high with book-type foldable devices, but the prohibitively high prices remain the biggest obstacle to mass adoption,” said Jene Park, Senior Analyst, Counterpoint Research. <h2>Global foldable smartphone market share</h2> <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Company </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#000000;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q3 2024 </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Samsung </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">56% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Huawei </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Honor </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Motorola </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">7% </td></tr><tr><td style="border-left:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">Xiaomi </td><td style="border-right:solid #000000 0.5008695000000001pt;border-bottom:solid #000000 0.5008695000000001pt;border-top:solid #000000 0.5008695000000001pt;vertical-align:bottom;background-color:#d9d9d9;padding:0pt 5pt 0pt 5pt;overflow:hidden;overflow-wrap:break-word;">6% </td></tr></tbody></table> Source: Counterpoint Research Samsung has emerged as the market leader in Q3 2024, with a market share of 56%, down from 70% in Q3 2023. While the company’s Galaxy Z Fold 6 performed decently, the Galaxy Z Flip 6 failed to match its predecessor’s sales. The company recorded a 21% year-on-year decline in shipments. Huawei has emerged second, with a 15% market share in Q3 2024, up from a 13% market share in Q3 2023. The company recorded a 23% year-on-year growth in shipments. Honor and Motorola take the third and fourth spots, with a 10% and a 7% market share respectively. Both companies have recorded good growth. While Honor has recorded a 121% year-on-year growth, Motorola has recorded a 164% year-on-year growth. Xiaomi is in the fifth position, with a 6% market share. The company recorded the highest year-on-year growth at 185%. This growth was driven by the Mix Flip, the company’s first clamshell smartphone. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/honda-activa-e-and-qc1-electric-scooters-unveiled-in-india-to-go-on-sale-in-2025/articleshow/115725242.cms">Honda Activa e and QC1 electric scooters unveiled in India, to go on sale in 2025</a> <a href="https://www.businessinsider.in/tech/news/indias-pc-market-reaches-new-high-with-4-49-million-shipments-in-q3-2024/articleshow/115719599.cms">India’s PC market reaches new high with 4.49 million shipments in Q3 2024</a> <a href="https://www.businessinsider.in/tech/mobile/news/realme-gt-7-pro-with-snapdragon-8-elite-chipset-launched-starting-at-59999/articleshow/115689685.cms">Realme GT 7 Pro with Snapdragon 8 Elite chipset launched starting at ₹59,999</a>

Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share

<keyword id="20270096" type="General" weightage="20" keywordseo="equity-benchmark-indices" source="keywords">Equity benchmark indices</keyword> <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> began the trade on a positive note on Friday but later pared gains to quote lower amid a muted trend in <keyword id="19908188" type="General" weightage="20" keywordseo="global-markets" source="keywords">global markets</keyword> and selling in <keyword id="19963566" type="General" weightage="20" keywordseo="IT-stocks" source="keywords">IT stocks</keyword>. Market analysts said <keyword id="19900618" type="General" weightage="20" keywordseo="investors" source="keywords">investors</keyword> are awaiting cues from the US Federal Reserve Chair Jerome Powell's comments at Jackson Hole Symposium. The 30-share <keyword id="19950208" type="General" weightage="20" keywordseo="BSE-Sensex" source="keywords">BSE Sensex</keyword> opened 37.32 points or 0.05 per cent higher at 81,090.51 points. The NSE Nifty gained 18.25 points to 24,829.75. Later, both the benchmark indices pared their early gains and were trading in the negative territory. The BSE benchmark quoted 117.82 points or 0.15 per cent lower at 80,935.37 and the Nifty traded at 24,776.95, down by 34.55 points. From the Sensex pack, <keyword id="19906778" type="General" weightage="20" keywordseo="Infosys" source="keywords" meta.keywordsubtype="org" meta.entityname="Infosys" meta.hostid="261" meta.entityid="Infosys">Infosys</keyword>, Titan, Tata Steel, UltraTech Cement, ITC, Tata Consultancy Services, Tech Mahindra and Asian Paints were the laggards. On the contrary, Tata Motors, Reliance Industries, Sun Pharmaceuticals, Mahindra &amp; Mahindra, Bajaj Finserv and ICICI Bank were among the gainers. "Globally the market's focus on Friday will be on US Federal Reserve Chair Jerome Powell's comments at Jackson Hole on the economy and the possible rate cut trend. Powell is likely to sound dovish indicating a rate cut in September," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said. In Asian markets, Tokyo, Shanghai were trading higher, while Hong Kong and Seoul were quoting in the red territory on Friday. The US markets were closed lower on Thursday. Foreign Institutional Investors (FIIs) bought equities worth Rs 1,371.79 crore on Thursday, according to exchange data. Meanwhile, Domestic Institutional Investors (DIIs) again bought equities worth Rs 2,971.80 crore on Thursday. Global oil benchmark Brent crude rose 0.06 per cent to USD 77.27 a barrel. On Thursday, the 30-share BSE index rose 147.89 points to close at 81,053.19, registering gains for the third day in a row. Extending gains to a sixth session in a row, the NSE Nifty went up by 41.30 points to end at a two-week high of 24,811.50.

Markets pare early gains; trade lower amid muted global market trend

The IPO (initial public offer) of food and grocery delivery behemoth Swiggy is set to open tomorrow and conclude on November 8, 2024. The entire issue is worth Rs 11,327.43 crore and has a fresh issue component of Rs 4,499 crore and an OFS (offer for sale) of about Rs 6,828.43 crore. With a price band of Rs 371-390, retail investors will be required to invest a minimum of Rs 14,820 to get their hands on Swiggy's shares. Swiggy, which will tentatively list on the bourses on November 13, 2024, is seeking to raise Rs 1,952.43 crore more than its rival <keyword id="830092" type="General" weightage="20" keywordseo="zomato" source="Orion">Zomato</keyword>, which went public in July 2021 and was looking to raise Rs 9,375 crore. Zomato's offer was oversubscribed around 38.25 times, with retail investors subscribing 7.45x to the issue. Notably, only around 15% of Swiggy's total issue will be made available to retail investors. Moreover, Swiggy's IPO is not garnering the same buzz if its present GMP (<keyword id="938640" type="General" weightage="20" keywordseo="grey-market-premium" source="Orion">grey market premium</keyword>) trends are to be believed. The company's last traded GMP was Rs 7, taking its estimated listing price to Rs 397 (upper end of its price band, i.e., Rs 390 + Rs 7), and its potential listing gains per share at a minimal 1.79%. Last week, Swiggy's GMP was at Rs 25, before tumbling to Rs 18, and then momentarily stabilizing at Rs 22 before its steep fall to present levels of Rs 7. <h2>Strengths and weaknesses</h2> Since its inception in 2014, Swiggy's bottom line has been in red, unlike that of its rival Zomato, which turned profitable in the first quarter of FY24. In FY22, its total income was Rs. 6119.78 crore with a net loss of Rs. 3628.90 crore. While the company's total income increased to Rs. 8714.45 crore in FY23, it also spelled a corresponding rise in its net losses, which surged to Rs. 4179.31 crore. The trend varied a little in FY24 when Swiggy's total income rose to Rs 11,634.35 crore while its net loss reduced to Rs. 2,350.24 crore. However, in the first quarter of FY25, ending June 30, 2024, the company's total income stood at Rs 3,310.11 crore and a net loss of Rs. 611.01 crore. While Swiggy did achieve 42.4% revenue growth between FY2022-223, most of its revenue is sourced from the top 50 of the 500 Indian cities it is currently operational in. Even in this regard, Zomato, which operates in around 1,000 cities across India, has an edge. <h2>Some say invest, some say avoid</h2> Some experts are advising against subscribing to this IPO. Per SAMCO Securities, "As of FY 2024, Swiggy Limited continues to operate at a loss, in contrast to its competitor, Zomato Limited, which has recently achieved profitability. Given Swiggy’s current financial position, competitive pressures, associated risks, and valuation, its IPO appears overvalued. Therefore, investors should avoid this IPO until the company’s financial performance and growth outlook improve. Waiting until Swiggy demonstrates improved financial results and a clearer path to sustainable growth would be a more prudent investment approach. Per Bajaj Broking's IPO note, Swiggy's IPO can be subscribed to from a long-term perspective. However, it also highlights that Swiggy's offer document is missing PAT (profit after tax) and RoCE (returns on capital employed) data. "For the last three fiscals, the company has reported an average EPS of Rs - (14.90) and an average RoNW of - (35.39%). The issue is priced at a P/BV of 11.60 based on its NAV of Rs. 33.61 as of June 30, 2024, and is at a P/BV of 7.31 based on its post-IPO NAV of Rs. 53.36 per share (at upper cap). If we attribute annualized FY25 earnings to a post-IPO fully diluted equity base, then the asking price is at a negative P/E, and based on FY24 earnings also, it is at a negative P/E, as the company has posted losses for those periods. On other parameters, the issue appears aggressively priced," it further adds. Gaurav Garg, research analyst at Lemonn Markets Desk, notes that it might take some time for Swiggy to reach Zomato's level, both in terms of valuation and AOV (average order value). Swiggy's valuation has been pegged at about Rs 95,000 crore, at the upper price band, while Zomato has a market valuation of Rs 2.13 lakh crore. "Almost 50% valuation compared to Zomato gives some comfort, although it should not be considered an arbitrage in valuation. If Swiggy’s EBITDA catches up to 3-4% in the food delivery business, which is currently at 1%, and Average Order Value (AOV) improves to Rs. 550-600 levels in quick commerce with a higher non-grocery share, we can see bridging in the valuation gap. However, this should not be expected in the near term," he adds.

Swiggy's IPO set to open tomorrow. Should you subscribe?

<ul class="summary-list"><li>Stocks have rallied since Trump won the election as traders expect his policies to drive growth.</li><li>But the market is confusing positive conditions from Trump's first term with current reality, a research firm said.</li></ul>The market is wrong to expect another period of outsize growth under Donald Trump, and should dial back risk as a result, BCA Research says.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-election-win-stock-market-today-record-high-sp500-dow-2024-11?_gl=1*ovl9fb*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTkzMzI0Ny40MTcuMS4xNzMxOTM1MTQ1LjQyLjAuMA..">Stocks have rallied</a> nearly across the board since <a target="_blank" class="" href="https://www.businessinsider.com/donald-trump-wins-presidential-election-race-2024-11">Trump</a> won the election earlier this month, with the S&amp;P 500 up nearly 2% since Election Day and stock exposure hitting an 11-year high. Traders are betting Trump's proposals for broad deregulation and corporate tax cuts will boost corporate earnings, particularly among so-called <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-election-impact-trump-win-election-financials-energy-rbc-2024-10?_gl=1*1hmjfnh*_ga*MTY3OTgyNjg0MS4xNzIxMDE2MDM2*_ga_E21CV80ZCZ*MTczMTkzMzI0Ny40MTcuMS4xNzMxOTM1MTkxLjYwLjAuMA..">Trump trades</a> like bank stocks.But the research firm says those proposed policies might not prove as big of a boost to the market as they did when Trump first entered the White House."The market is expecting Trump to enact a flurry of policies that will unleash a year of growth like 2017. But we believe the consensus is wrong," strategist Juan Correa said, pointing to a starkly different economic backdrop this time around versus at the start of his first term.When Trump entered the White House in 2017, he was met with rising inflation and the start of a hiking cycle from the Federal Reserve. This time, <a target="_blank" class="" href="https://www.businessinsider.com/stanley-druckenmiller-fed-rate-cuts-inflation-1970s-trump-election-fomc-2024-11">inflation</a> is coming down, as has rates. That makes the Fed's focus pinned on the <a target="_blank" class="" href="https://businessinsider.com/next-fed-rate-cut-forecast-jumbo-unemployment-labor-market-citi-2024-11">labor market</a>, which has started showing signs of deterioration, Correa says.Meanwhile, global growth appears to be on the downward slide. China's stimulus hasn't been enough to boost its <a target="_blank" class="" href="https://www.businessinsider.com/china-economy-housing-property-stimulus-economic-growth-goldman-sachs-2024-10">property sector</a>, and <a target="_blank" class="" href="https://www.businessinsider.com/us-is-experiencing-factory-boom-but-finding-workers-is-difficult-2023-7">manufacturing employment</a> remains tepid with the ISM manufacturing index under 50, while in 2017 it neared 60 and was already beginning to accelerate well before Trump's win."Those betting on a 2017 scenario are doing so based on data from eight years ago," Correa said.Some investors may argue that Trump's policies could reverse those macro trends, with pro-growth and inflationary policies like he implemented in his first term, and that those might be especially possible to enact with a Republican-controlled Congress.But that is likely an overestimate, Correa says. In his mind, it isn't clear that Trump's tax cuts were actually at the heart of economic growth in 2017. He thinks that generating additional growth through government spending will be harder this time around. With such large deficits already, it's unlikely there will be such a big increase from current levels, and projections for fiscal force next year are already negative, he said.In short, traders are looking at Trump through the lens of his past term, rather than the odds stacked against him now."Investors are playing the man and not the macro. Even worse, they are playing not the man today but the man from eight years ago. As a result, several assets are overextended in our view," Correa said, pointing to small caps, the dollar and risk assets.Correa recommends positioning defensively instead, out of stocks and into bonds."We remain underweight equities and are defensively positioned. Bonds are offering outstanding value. Even in the event of a soft landing, 10-year Treasurys would return 12% from current levels over the next year," he said.

You Searched For "market trends" and got 9 results

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Nifty Sensex breaks five-session losing trend, experts predict positive outlook this week

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Global foldable phone shipments decline in Q3 2024, Samsung leads with 56% market share

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Markets pare early gains; trade lower amid muted global market trend

PTI

Swiggy's IPO set to open tomorrow. Should you subscribe?

Ira Alok Puranik

The market is too confident about Trump, and investors should play defense instead, research firm says

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