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  • Sensex jumps 1,131 points, Nifty closes above 22,800 as markets rally

    Sensex jumps 1,131 points, Nifty closes above 22,800 as markets rally

    IANS

    Indian stock markets ended on a strong note on Tuesday, with both the Sensex and Nifty posting significant gains.

    The Sensex surged 1,131.31 points, or 1.53 per cent, to close at 75,301.26, while the Nifty climbed 325.55 points, or 1.45 per cent, to settle at 22,834.30.

    During the day, the Sensex hit an intra-day high of 75,385.76, while the Nifty traded between 22,599.20 and 22,845.95.

    This marked the second consecutive session of strong gains for the benchmark indices.

    “The rally was primarily driven by realty, automobiles, metals, and banks, which contributed significantly to the market’s gains,” Sundar Kewat of Institutional Equity Desk said.

    He added that from an options perspective, the highest open interest on the call side was at 23,000 & 23,500, while put-side open interest was concentrated at 22,500 & 22,700.

    Sensex jumps 1,131 points, Nifty closes above 22,800 as markets rally

    IANS

    “Softer-than-expected US retail sales data fueled expectations that the Federal Reserve might consider interest rate cuts later this year,” Kewat stated.

    The strong rally across sectors and broader indices indicates continued investor confidence, pushing the markets to higher levels.

    The market saw a broad-based rally, with 2,715 stocks advancing, 1,153 declining, and 117 remaining unchanged.

    Investors remained bullish as most stocks saw gains. Among the top gainers on the Nifty were ICICI Bank, Mahindra & Mahindra (M&M), Shriram Finance, Larsen & Toubro (L&T), and Tata Motors.

    On the other hand, Bajaj Finserv, Bharti Airtel, and Tech Mahindra were among the few stocks that ended lower.

    Sectoral indices performed well, with all sectors closing in positive territory. The auto, capital goods, consumer durables, metal, power, realty, and media sectors saw gains of 2-3 per cent.

    Broader markets also performed well, with smallcap stocks leading the rally. The Nifty Smallcap100 index surged 2.71 per cent, while the Nifty Midcap100 index gained 2.10 per cent.

    Sectoral indices on the NSE closed in positive territory, with gains of up to 3.62 per cent. The Indian rupee strengthened against the dollar, ending 23 paise higher at 86.56 per dollar, compared to the previous close of 86.79.

    (With inputs from IANS)

  • Markets will be closed on 14 March 2025

    On account of Holi, there will be a trading holiday on Friday, 14 March 2025.

    Keep in mind:

    🔸Equity and Derivative markets will be closed on 14 March. Trading will resume from 17 March.
    🔸Commodity markets will be closed for the first half. Trading will resume from 5 PM.
    🔸Standard Fund Withdrawal requests placed after 8 AM on 13 March will be processed on 17 March
    🔸Instant Fund Withdrawal facility will not be available on 14 March

  • Update on collateral margin against Mutual Funds for Option Buying

    We’d like to inform you about an important update in our Margin Pledge facility. Previously, you could pledge your Mutual Fund holdings to obtain collateral margin for Option Buying. However, we’re temporarily rolling back this feature.

    – You will no longer be able to avail collateral margin against Mutual Funds for Option Buying

    – Pledging Mutual Funds will still be allowed for Option Selling, Futures Buying and Selling and Intraday Trades

    – You can continue to pledge Stocks, ETFs, and SGBs for Option Buying and Selling, Futures Buying and Selling and Intraday Trades

    Any Mutual Funds currently pledged for Option Buying will cease to provide margin from 3 January 2025 onwards.

  • Goldman Sachs sees India among top emerging markets in 2025

    Goldman Sachs sees India among top emerging markets in 2025

    IANS

    Goldman Sachs has projected India to be among the best-performing emerging markets in 2025, given the country’s robust macroeconomic stability backed by improving terms of trade, effective inflation targeting, and reliable domestic risk capital.

    The global investment bank has forecast an earnings growth of 18-20 per cent annually over the next 4-5 years, driven by an emerging private capex cycle, corporate balance sheet re-leveraging, and a structural rise in discretionary consumption.

    These factors have reduced India’s beta to emerging markets to approximately 0.4, justifying its premium valuation multiples, the report stated.

    Its investment earnings estimates remain ahead of consensus, and they highlight a declining correlation of Indian equities with global markets. However, global factors such as policy actions in the US and China, as well as geopolitical developments, will continue to influence Indian markets, the report added.

    Goldman expects macro stability to be further strengthened through fiscal consolidation, increased private investment, and a positive real growth-real rates gap. They assume robust domestic growth, no US recession, benign oil prices, modest rate cuts, and a supportive liquidity environment. Sensex earnings are projected to compound at 17.3 per cent annually through FY27, which is 15 per cent above consensus.

    Goldman Sachs sees India among top emerging markets in 2025

    IANS

    In terms of portfolio strategy, Goldman favours cyclicals over defensives and SMID caps over large caps, recommending overweight positions in Financials, Consumer Discretionary, Industrials, and Technology.

    Goldman Sachs Research stated in a report last month that it expects the Indian economy to be relatively insulated against global shocks over the coming year — including tariffs levied by the new administration of US President-elect Donald Trump. India’s GDP will keep growing strongly in the long term — but with a speed bump next year as government spending and credit growth slow, according the forecast.

    “The structural long-term growth story for India remains intact driven by favourable demographics and stable governance,” Santanu Sengupta, chief India economist at Goldman Sachs Research, writes in his team’s report.

    Our economists expect India’s economy to grow at an average of 6.5 per cent between 2025 and 2030, the report said.

    Goldman Sachs expects headline inflation in India to average 4.2 per cent year-on-year in the 2025 calendar year, with food inflation at 4.6 per cent — much lower than our analysts’ estimate of 7 per cent-plus for 2024, thanks to adequate rainfall, and good sowing of the summer crop.

    “Food supply shocks due to weather-related disruptions remain the key risk to this forecast. Thus far, elevated and volatile food inflation, mainly driven by vegetable prices due to weather shocks, has kept the RBI from easing monetary policy,” the report added.

    (With inputs from IANS)

  • REMINDER: SEBI’s Quarterly Fund Settlement

    As per SEBI’s Quarterly Fund Settlement rule, please keep the following in mind –

    Any funds in your Upstox account that haven’t been utilised will be returned to your registered bank account by Saturday, 4 January 2025.

    What you should do:
    – Please check your bank statement to verify and view the returned funds
    – To ensure you can trade on Monday, 6 January 2025, please add funds to your Upstox account in advance, as your account balance may be zero on that day. Know more: How can I transfer funds?
    – If you’re using NEFT/RTGS, please add Upstox as a beneficiary at least 24 hours in advance, ideally by Friday, 3 January. Below are the beneficiary details:

    For Equity, F&O, or Currency trading:
    – Bank Name: HDFC Bank
    – Account Name: Upstox Securities Pvt Ltd – USCNB A/C
    – Account Number: 57500001411011
    – Account Type: Current Account
    – IFSC Code: HDFC0000060

    For Commodity trading:
    – Bank: HDFC Bank
    – Account Name: RKSV Commodities India Pvt.Ltd.
    – Account Number: 15770340022236
    – Account Type: Current Account
    – IFSC Code: HDFC0000060

    Due to the high volume of transactions on this day, there might be a delay in receiving your funds. Rest assured, you should receive your funds within two working days and this process won’t affect your current orders, holdings, or positions.

    We hope this helps you plan your trades better!

  • Adjustment of Futures & Options contracts in ITC Limited

    ITC Limited has declared to the Exchange the issuance and allotment of 1 equity share of ITC Hotels for every 10 equity shares of ITC Limited held by existing shareholders. The record date to determine which shareholders will be eligible for this is 6 January 2025.

    Due to this corporate action, keep in mind the following impact on your F&O contracts

    1. All existing contracts in the underlying ITC with expiry dates of 30 January, 27 February, and 27 March shall expire on 3 January 2025 and shall be physically settled as per the Exchange rules

    2. The methodology of settlement shall be separately intimated by respective Clearing
    Corporations.

    3. To take physical delivery of shares for your ITC position (or to cover a short position), you need to maintain the contract’s full value by the end of 2 January 2025.

    4. No fresh position will be allowed under the F&O segment in ITC from 2 January 2025

    5. ITC positions with insufficient fund value or stock (in case of a short position) will be squared off anytime after 10 AM on 3 January 2025 on a best-effort basis

    6. Collateral Margins (Margin Pledge) on ITC will be subject to a 50% haircut value from 3 January 2025, onwards

    7. All MTF positions in ITC will be either squared off or converted to delivery, based on the availability of funds post 10 AM on 3 January 2025 on a best effort basis

    8. Derivatives contracts on ITC shall be introduced again (with an expiry of 30 January 2025, 27 February 2025 and 27 March 2025) from 6 January 2025 onwards

    You can also refer to the circular here.

  • Revision in index F&O expiry days

    As per a recent Exchange circular, the expiry days for F&O index contracts have been revised. Starting January 2025:
    – NSE index F&O contracts will expire on the last Thursday of each month.
    – BSE index F&O contracts will expire on the last Tuesday of each month.

    Here’s a detailed table for your reference:

    Keep in mind
    – There is no change in expiry day for NIFTY monthly, weekly, quarterly & half yearly F&O contracts. They will continue to expire on Thursdays.
    – There will be no change in the existing SENSEX weekly F&O contracts expiring on 3 January 2025.
    – New F&O BSE Index contracts placed after 1 January 2025, will have an expiry day of Tuesday

    To learn more, you can refer to the: NSE circular | BSE circular

  • India’s equity markets touched $5.29 trillion market cap this year, 4th largest globally

    Bombay Stock Exchange.

    Bombay Stock Exchange.IANS

    India’s equity markets soared to record highs, firmly establishing the nation with a market capitalisation of $5.29 trillion this year, which was the fourth largest market cap globally after the US, China and Japan, a report said on Thursday.

    Benchmark indices Nifty and Sensex hit all-time highs of 26,277.35 and 85,978.25, respectively, this year, according to the report by Pantomath Group, a leading financial services conglomerate.

    GDP growth stood at 8.2 per cent in FY24, surpassing expectations, although inflation and weak consumption slowed growth in first half of FY25.

    “A rebound is anticipated, driven by government spending, private investments, and rural growth revival,” the report mentioned.

    According to Madhu Lunawat, CIO and Fund Manager, Bharat Value Fund, there are many opportunities available for both domestic and global investors such as AIF, PMS, Mutual Funds, etc. for medium-term investments perspectives, to participate in India’s long term growth story.

    “The investor’s preference towards equity as an investment avenue based on their Risk appetite is constantly increasing in the last couple of years as compared to earlier. Such kind of sustainable fund flow from different investors is a positive sign and this liquidity will help market to support in any kind of correction or declines,” Lunawat noted.

    Govt doubles FCI's authorised capital to Rs 21,000 cr in big boost to farm sector

    IANS

    The Indian agriculture sector is set for growth, driven by the ‘Vision 2047; roadmap that promotes sustainable farming, crop diversification (especially millets), and climate-resilient seeds.

    The automobile sector grew 10 per cent to Rs. 6.14 lakh crore, with a sharp focus on EV adoption and exports projected at $30 billion by FY26, the report mentioned.

    India remains committed to net-zero emissions by 2070 and 50 per cent renewable energy by 2030, supported by the National Green Hydrogen Mission and 100 per cent FDI in renewables.

    “Indian corporate earnings are expected to show further improvement. The capex spending by government will lead to revival in overall GDP growth and companies benefiting from a softening in commodity prices, leading to enhanced profitability and margins,” said Devang Shah, Head Retail Research, ACMIIL.

    Companies are expected to continue strong performance in the upcoming quarters, driven by a robust domestic demand environment, positive macroeconomic factors and private capex revival, Shah added.

    (With inputs from IANS)

  • Indian markets to deliver positive returns for 9th year in a row, outperform US

    Sensex, Nifty close at all-time high, led by metal and auto shares

    Indian markets to deliver positive returns for 9th year in a row, outperform USIANS

    Driven by strong fundamental and robust economic growth, the domestic benchmark indices are set to give positive returns in 2024 for the ninth consecutive year.

    As per a report by Standard Chartered bank, 2024 was a year of two distinct halves for Indian equities and bonds. While the first half saw strong growth, supported by robust economic activity and corporate earnings, second half was marked by volatility amid consolidation.

    “2024 was a year of two halves with H1 seeing strong performance of Indian equities and bonds on strong economic growth and corporate earnings delivery. However, H2 witnessed a surge in volatility,” according to the report.

    Despite this, Nifty 50 index has gained 9.21 per cent while the Sensex index rose by 8.62 per cent.

    Another report by Motilal Oswal said that Indian equities have outperformed US markets over the past 35 years, as investments in the Indian equity markets growing by nearly 95 times since 1990.

    If someone had invested Rs 100 in Indian stock markets in 1990, it would have grown to Rs 9,500 by November 2024. In comparison, Rs 100 invested in US stock markets during the same period would have grown to Rs 8,400, according to the report.

    Moreover, gold delivered a return of 32 times during the same period.

    Sensex snaps five-day losing streak, Nifty closes above 24,300

    Gold delivered a return of 32 times during the same periodIANS

    According to another report by Motilal Oswal Wealth Management, after a subdued earnings performance in the first half of FY25, earnings are expected to recover in H2, driven by increased rural spending, a buoyant wedding season, and pickup in government spending.

    “We further expect earnings to gain momentum, delivering a 16 per cent CAGR over FY25-27E. Moreover, the recent market correction and the moderation in valuations offer an opportunity to add selective bottom-up stock ideas,” it mentioned.

    “We remain optimistic about the long-term trend, given the strength of corporate India’s balance sheets and the prospects for robust, profitable growth,” the report noted.

    (With inputs from IANS)

  • Markets will be closed on 25 December 2024

    On account of Christmas, there will be a trading holiday on Wednesday, 25 December 2024.

    Keep in mind:

    🔸Equity, Derivative and Commodity markets will be closed on 25 December. Trading will resume on 26 December.
    🔸Standard Fund Withdrawal requests placed after 8 AM on 24 December will be processed on 26 December
    🔸Instant Fund Withdrawal facility will not be available on 25 December