Sensex recovers 421 pts from day's low, ends flat; Nifty settles at 13,568

All that happened in the markets today

2:55 PM

S&P revises India's FY21 GDP contraction forecast to 7.7% from 9% earlier

S&P Global Ratings on Tuesday raised India's growth projection for the current fiscal to (-) 7.7 per cent from (-) 9 per cent estimated earlier on rising demand and falling COVID infection rates. "Rising demand and falling infection rates have tempered our expectation of COVID's hit on the Indian economy. S&P Global Ratings has revised real GDP growth to negative 7.7 per cent for the year ending March 2021, from negative 9 per cent previously," S&P said in a statement. READ MORE

2:49 PM

Warning signs :: StanChart lists 8 big market risks in 2021

A pandemic wasn’t on too many lists last year, but global markets have largely recovered from the shock, helped by emergency fiscal- and monetary action. Investors have found some consensus on a recovery in growth and inflation heading into the new year, driving global yield curves steeper, rallies in corporate bonds and a slide in the U. S. dollar. READ MORE

2:43 PM

BUZZING STOCK:: Zee Entertainment surges 9% from day's low

2:37 PM

Buzzing Stock | DHFL shares hit 5% lower circuit

• Shares of Dewan Housing Finance Corporation (DHFL) hit 5 per cent lower circuit limit on Tuesday. The stock was down 4.92 per cent at Rs 37.70 on BSE. 

• US-based asset management fund Oaktree Capital has emerged as the highest bidder for bankrupt housing finance firm DHFL by making an offer of Rs 36,646 crore for the entire company. 

2:32 PM

MFI stocks make a comeback after two-year hiatus

Ever since the Bharat Financial Inclusion’s acquisition by IndusInd Bank came through in 2018, the interest in the microfinance segment from an investment perspective waned off. While Equitas Holding and Ujjivan Financial Services were available as options, broiled in corporate structure issues, the merits in investing in microfinance (MFI) stock thinned over time. READ MORE

2:24 PM

Borosil Renewables hits fresh record high, zooms 39% in two days

In the past two trading days, the stock of the houseware manufacturer has zoomed 39 per cent as the government is set to levy duty at 9.71 per cent on textured tempered coated or uncoated glass imports (of which the company is the sole manufacturer in India) from Malaysia. READ MORE

2:24 PM

Market Watch | Sensex wipes off over 400 points loss, comes back into the green

BSE barometer Sensex erased 470-point losses from day's low to trade in the green in afternoon session on Tuesday on the back of gains in financials and bank stocks. HDFC twins and Bajaj Finance were among the top index contributors.

2:14 PM

Sales uptick, lower debt to help in Aditya Birla Fashion recovery

A sequential recovery in the second quarter, cost rationalization, and deleveraging have helped the Aditya Birla Fashion and Retail (ABFRL) stock gain over 20 per cent since the beginning of October. After an 85 per cent fall in revenue to Rs 323 crore in the June quarter (Q1) due to the lockdown, sales recovered on a sequential basis to Rs 1,028 crore in Q2. READ MORE

2:02 PM

Planning to buy mid, small-caps? Here's how to choose the winners

Analysts expect outperformance to last for the next one-two years, thanks to a rebound in the economic growth, influx of new investors in the market and a shift in investing trends from the mutual funds to direct equity.

 

"The return expectations from the large-cap universe have to be lowered going ahead. At best, large-caps can offer 8-10 per cent return whereas the right mid and small-cap stocks can offer as much as 20-30 per cent gains. Over the next one-two years, the small-caps will likely outperform their larger peers," says A K Prabhakar, head of research at IDBI Capital. READ MORE

1:52 PM

Asian markets check

Asian stocks retreated on Tuesday as worries about increasing COVID-19 deaths and lockdowns overshadowed optimism about the roll-out of coronavirus vaccinations, just days after indexes hit record highs.

Most Asian markets retreated, with MSCI’s index of Asia-Pacific shares outside Japan falling 0.6% to 637.8, the lowest in more than a week after having hit a string of record highs in recent weeks.

 

Chinese stocks eased 0.3 per cent and Hong Kong lost 0.9 per cent. Markets in Japan and South Korea, both grappling with surging infection numbers and growing public frustration, slipped 0.4 per cent and 0.5 per cent. Australian stocks fell 0.4 per cent, pulled down by heavyweight miners on fears of higher regulatory scrutiny over surging iron ore prices in top consumer, China.

(via Reuters)
 

1:42 PM

IPO Update :: Mrs Bector's Food IPO subscribed nearly 2x till 1:30 pm on Day 1

1:41 PM

MARKET UPDATE:: S&P BSE SmallCap index turns positive

1:35 PM

NEWS ALERT :: Cyient, Decipher sign MoU to support the global rollout of key cloud mining platform

>> The platform will help streamline tailings and rehabilitation monitoring in the industry

>>  Collaboration will enable global mining players to meet regulatory compliance and monitoring guidelines.

(Click here for more details)
 

1:26 PM

Why a torrent of foreign funds threatens India's tight grip on the rupee

A relentless torrent of funds rushing into India’s markets may tip the central bank’s delicate balancing act in 2021. For most of this year, the Reserve Bank of India has capped currency gains as global investors poured around $50 billion into stocks and stakes in companies. This has boosted rupee liquidity in a banking system that’s already flush with cash from the RBI’s stimulus measures. READ MORE

1:25 PM

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