It has been a year since the Nifty 50 touched its all-time high, but the broader market tells a harsher story. Out of 750 stocks, only 245 have delivered gains while nearly 2/3 are in the red. Median returns stand at negative 11.5 percent, showing that most investors have faced double-digit losses despite the Nifty’s mild decline
The market has made a new high but the number of stocks making new highs is dwindling. Market history holds some lessons for investors
Among them, 16 stocks have risen to a record high, indicating strong resilience. Meanwhile, the Nifty itself rose just 1 percent.
Infosys Ltd, Tech Mahindra Ltd, Wipro Ltd, Indusind Bank, Kotak Mahindra Bank, Bajaj Finance, Bajaj Finserv and RIL are among blue-chip stocks yet to hit their all-time high levels
The founder of Helios Capital was talking about picking stocks and the many opportunities in the market
The macro environment is much better but technical indicators are mixed and point to trend reversal if the Nifty breaks below the 18,000 support.
Sensex and Nifty hit record highs on Tuesday. Indian markets are defying global weakness and touching all-time levels on the back of renewed interest from FIIs as the Indian decoupling story continues to play out, said one analyst.
This record was notched up although benchmark indices, the BSE Sensex and Nifty, are still over 4% below their all-time highs, indicating that the rally has been led by smaller stocks.
Consumer prices rose 9.4% this year through June, up from 9.1% the previous month, the Office for National Statistics said on July 20. The new figure is the highest since 1982, when inflation peaked at 11%.
On February 8, the Nifty for the first time closed above 15,000 and 11 stocks, including names like Adani Ports, Bajaj Auto, & Bajaj Finance, have hit their lifetime highs.
Out of 116 stocks, 48 scrips, including Dixon Tech, Avenue Supermarts, Info Edge, Marico and Adani Ports, have hit their all-time high in December.
Bulls were in control of equity benchmarks as they cashed in on BJP’s victory in state assembly elections. Nifty closed above 9000-mark for the first time ever, while the Sensex ended 496 points higher.
Market expert Rajat K Bose of rajatkbose.com believes the Nifty has a minor resistance at 8985-9010 but a more meaningful resistance will be 9050-9085.
Global cues are positive with the US stocks gaining for the third straight day marking the longest win streak of 2015 as investors largely accepted the view that the European Central Bank (ECB) would implement a large-scale bond-purchasing program.
S&P 500 is less than half a percent from its all-time high. All eyes are now on the upcoming Jackson Hole symposium and the minutes of the July FOMC meet to be released today.
Retail participation continued to remain muted as can be seen from the slackness in mid and small cap shares.
Interest rate sensitives and commodity stocks helped the Sensex close at 21919.79, up 405.92 points or 1.89 percent after hitting a peak of 21960.89.
Speaking to CNBC-TV18, Udayan Mukherjee says that the trade is beginning to catch on now. However, this is not the time to chunk out high quality from the portfolio just yet, he adds.
The Sensex touched a fresh life-time closing high of 21513 and the Nifty too surged above the 6400 mark. Adding to the drumrolls was the rupee that was at a three month high on positive current account deficit (CAD) data and dollar selling.
The Sensex is up 226.46 points or 1.06 percent at 21503.32, and the Nifty up 73.35 points or 1.16 percent at 6402.00. About 1636 shares have advanced, 990 shares declined, and 147 shares are unchanged.
The Nifty is only 35 points away from its all-time closing high of 6363.9 and if SGX Nifty is anything to go by, the market is likely to see yet another day in the green today.
The level of 6320 provides a very strong resistance to the market, says Tushar Mahajan, Head of Listed Futures & Options, Nomura. The Nifty is currently trading at 6312.
Divi's shares rose 4.6 percent to Rs 1,373 rupees after hitting a high of Rs 13,87.
A couple of months back when the rupee was making a new low everyday despite efforts by government and central banking authorities, even the superbull Jhunjhunwala was frightened.
ENAM securities recommends being cautious about the market despite the ongoing rally as structural issues need to be solved yet.