Indian equity market shows promise as the Nifty 50 ends a three-week slide, closing nearly 2% higher. Key factors include positive macroeconomic indicators, a drop in the dollar index, and RBI's liquidity support. As markets anticipate volatility in a shortened week due to the Holi festival, FII activity, global market dynamics, and technical levels will be critical.
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The UK pledged £20 billion ($26 billion) on Sunday to help exporters including those affected by US tariffs, as President Donald Trump's sweeping stop-start import taxes roil global markets. Britain's finance ministry said the move would expand the UK's export finance package by £20 billion to a total of £80 billion, with "thousands of UK businesses affected by tariffs set to benefit."
Despite reaching record highs in 2024, Sensex and Nifty are now about 10% off peak levels due to global and domestic factors. Advisers recommend a focus on large-cap, flexi-cap, and debt-oriented balanced advantage funds, while continuing SIPs to benefit from possible future rallies amid market volatility.
Tata Pension Management erroneously listed Divinion Advisory Services, owned by the family of Tata Sons executive Suprakash Mukhopadhyay, as a Tata group company in August 2022. While the error was corrected in subsequent disclosures, Mukhopadhyay's connection to Divinion, including CSR contributions and solicitation of investments, raises potential conflict of interest concerns under Tata Sons' code of conduct.
Catch, an Australian e-commerce platform acquired by Wesfarmers in 2019, will close down, leading to about 200 job losses due to tough competition from Amazon and Temu. The logistics centres will be transferred to Kmart to enhance its customer service and delivery efficiency.
Reliance Consumer Products has acquired the Sil brand, specializing in packaged food items, from Food Service India. This move intensifies market competition with major players like Hindustan Unilever. Reliance plans to revitalize the 75-year-old brand while expanding its market presence, focusing only on the brand and not its manufacturing units or employees.
A strong March rally is now uncertain as Foreign Institutional Investors sold off over Rs 10,255 crore in Indian stocks. As markets await US President Trump's tariff announcement, concerns about potential global risks loom. Experts suggest that while volatility may persist, long-term investors could cautiously start deploying capital, given India's robust economic fundamentals.
Kolkata-based logistics firm WCIL has secured a Rs 139-crore material handling contract from Vedanta Ltd for its Jharsuguda plant, spanning four years. This strengthens WCIL's relationship with Vedanta and opens doors for future mining projects. The firm reported notable sales and profit growth for the year ending March 2024. WCIL also raised Rs 492 crore through its IPO.
SBI Har Ghar Lakhpati RD: SBI has launched a recurring deposit scheme enabling customers to build a Rs 1 lakh corpus with monthly deposits. The scheme is available for resident individuals, including minors with guardians.
The market valuation of six of the top 10 valued domestic firms, including Infosys and TCS, decreased by Rs 1.71 lakh crore last week. Meanwhile, Reliance Industries, Bharti Airtel, State Bank of India, and LIC saw gains, with Reliance Industries being the most valued firm.
On Tuesday, the sensex and Nifty closed lower for the fifth straight session due to weak global and domestic cues. Trump’s tariffs and ongoing US trade policy uncertainty, along with a weak rupee and continuous foreign fund outflows, impacted market sentiment. Sensex dropped by 1,018 points, Nifty by 310, and mid- and small-cap indices saw significant losses.