BUSINESS
Mutual funds cut stakes in frothy PSUs as large undervaluation vanishes
The largest sell-off was seen in SJVN, where holdings were cut by over 53%, followed by Ircon International and NMDC Steel, with reductions of around 47% and 30% respectively.
BUSINESS
How bad is too bad? Smallcap carnage wipes out Rs 9 trillion, 50% of loss in market cap
Smallcap stocks had a remarkable run over the past year, outpacing largecaps by a wide margin. From April 1, 2023, to February 19, 2024, the BSE Sensex posted a gain of about 24%, compared to BSE Smallcap's 71%
BUSINESS
A third of stocks listed in FY24 trade below their issue price
Some 73 Indian mainboard companies raised a total of over Rs 60,000 crore in the primary market in FY24. Twenty-six of these 73 companies are trading below their offer price
BUSINESS
Losing stocks outnumber gainers 9:1, experts say mood turning bearish
So far today. on the BSE, out of 3.838 stocks, 422 rose, 3.340 fell, and 76 remained unchanged. Today's ratio stands at 0.13, compared to 0.28 on March 12 and 0.39 on March 11. In March, only four days recorded a ratio above 1, with the remaining days trading below 1.
BUSINESS
Six MFs completely exited Paytm stock; six cut stake sharply in Feb
Mahindra Manulife Mutual Fund (15.16 lakh shares), Quant Mutual Fund (6.13 lakh shares), Bajaj Finserv MF (2.1 lakh shares), JM Financial MF (1.67 lakh shares), Union MF (1.15 lakh shares), and Baroda BNP Paribas MF (17,000 shares) have completely divested from Paytm stock.
BUSINESS
Mutual funds bought HDFC Bank shares worth Rs 8,400 crore in February
Mutual funds bought around 6.01 crore shares in February. As of February 2024, mutual funds held around 142.27 crore shares in HDFC Bank from 136.26 crore shares in January
BUSINESS
SIP closure ratio at 27 month-low of 43% in February: AMFI data
In February, 49.80 million new SIP accounts were registered, compared with 51.84 million a month ago — down 4 percent. Discontinuations fell 10.3 percent during the period, from 21.33 million to 23.8 million, data from the Association of Mutual Funds in India shows
BUSINESS
Fresh demat accounts exceed 40 lakh for the 3rd straight month in Feb
What intrigues a market observer is the fact that the rush to enter the market stays unhindered despite brokerage warnings on high valuations and sustained caution on PSU stocks, midcaps and smallcaps
BUSINESS
MC Graphixstory | SMEs brave market volatility as IPOs hit a 5-month high in Feb
Some 15 SMEs raised over Rs 630 crore from listings in February, the highest since last September, when about 36 companies had mopped up Rs 998.40 crore
BUSINESS
Market breadth indicator forecasts consolidation as advance-decline ratio dips
The average advance-to-decline ratio in February stood at 0.95 times. This level was seen last in March 2023 and since April, it stayed above 1 riding on robust economic fundamentals and participation of foreign investors. Analysts further said that the reasons for the current market correction can be also be attributed to the sharp rise of 17.5 percent within a short time span - from November2023 to mid-January 2024
BUSINESS
Private sector banks weight in Nifty Bank hits multi year low; PSU banks surge
PSU banks have staged a strong comeback, outperforming the Nifty Private Bank index with the Nifty PSU Bank Index delivering a remarkable 162 percent returns since March 2022, compared to 24 percent for private banks
BUSINESS
MC Graphixstory | FIIs cut stake in frontline FMCG stocks on weak sales growth in Q3
In Q3, FIIs reduced their stake in Hindustan Unilever to 13.65 percent from the previous quarter's 13.90 percent. Their stake in ITC dropped to 43.26 percent from 43.34 percent, as per the latest shareholding pattern data from exchanges
BUSINESS
FIIs continue to dump financial services in Feb, stay bullish on IT, healthcare stocks
Market watchers say moderating credit demand and the struggle to raise deposits have led to investors going cautious on the banking sector
BUSINESS
Most Nifty Midcap 100, Smallcap 100 companies record sluggish Q3 earnings
A Moneycontrol analysis of 65 companies in Nifty MidCap 100 showed that net sales for midcap grew the slowest in 13 quarters, at 5.7%, compared to 7.8% in the previous quarter and 15.2% in the same period last year
BUSINESS
MF share in PSU stocks scales fresh record high of 7.58% in Jan
In 2024 so far, the BSE PSU index has rallied 18 percent compared to a 1 percent gain in the Nifty. Last year too, PSUs had outperformed the Nifty by a wide margin—55.3 percent vs 20 percent
MARKETS
Paytm shares could rally some more on Monday, but big upside unlikely
The company's stock snapped a 6-session losing streak to end 5 percent higher at Rs 341.30 on Friday, ahead of the RBI clarification and the Axis Bank tie-up.
BUSINESS
MFs raise stakes in 70% Nifty smallcap, midcap stocks in Q3, despite caution
Around 70% of stocks in Nifty MidCap 100 and Nifty SmallCap 100 indices witnessed a rise in mutual fund stakes in December 2023 quarter, according to Ace Equities data.
BUSINESS
HDFC Bank sees mutual funds pick up Rs 13,850 crore shares in January
Out of 40 mutual funds invested in HDFC Bank, 27 stepped up their holdings in January, while 13 chose to dilute part of their stakes. ICICI Prudential MF led the buyers with the highest purchase of Rs 3,933 crore
MARKETS
RIL becomes India's first to surpass Rs 20 lakh crore in market capitalisation
The stock surged 10.4 percent in January and continued to climb nearly 4 percent in February. These recent gains are consistent with the overall market rally and positive reports on the company from multiple brokerages
BUSINESS
PSU shares tumble: Rs 6.4 lakh crore wealth destroyed in past 3 sessions
After the sustained run in these stocks, analysts have been cautioning investors. While a section of the market continues to believe the re-rating in state-owned companies as a whole was very much warranted, some have turned skeptical.
BUSINESS
BSE MidCap, SmallCap crash 2% on profit-booking as Fed, RBI hold rates
Recent market decline follows hawkish policies from the Reserve Bank of India and the US Fed, both refraining from rate cuts. Top economists and central bankers anticipate prolonged higher interest rates.
BUSINESS
At $16.5 billion a day, Indian markets outgrow Hong Kong in terms of stock trading volume
Nomura expresses concerns about the recent surge in trading values in India, considering it from a contrarian perspective and not ruling out the possibility of an "air pocket" for India stocks
BUSINESS
Surge in SIPs, demat accounts show investor confidence in braving volatile trades
A record over 51.84 lakh people registered for SIPs in January compared to 40.33 lakh a month ago, clocking a 28.5 percent spike over December and a 128.9 percent surge over the last year
BUSINESS
Investors brave volatility, flood the Street with demat additions crossing 46.84 lakh in Jan
According to data from the Central Depository Service and National Securities Depository, the number of demat accounts opened in January totalled over 46.84 lakh, compared to 40.94 lakh a month ago
