Sensex gains 327 pts in first session of 2023, Nifty nears 18200; RIL up 1%
Closing Bell: Among sectors, the Nifty metal index was the top performer of the day, which jumped 2.4 per cent after global brokerage Jefferies changed its stance on the sector to 'positive'
![Sensex An index of 100 mid-cap stocks has surged 32% year-to-date, while a similar measure of small-cap names has rallied 43%. (Photo: Bloomberg)](https://bsmedia.business-standard.com/_media/bs/img/article/2021-07/13/full/1626153422-8862.jpg?im=FeatureCrop,size=(803,452))
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Brokerage Call :: 2022 may be the template for future years, says Kotak Institutional Equities
>> 2022 may be the template for the next few years, given (1) heightened geopolitical risks, (2) higher interest rates, (3) slowing China despite a likely rebound in economic activity in 2023 due to the ongoing reopening; China’s demographics are quite challenged and (4) large climate change-related uncertainties.
>> We expect lower returns across asset classes (bonds, equities, real estate) in an era of normal interest rates compared to very high returns in an era of low interest rates in the past three decades.
> The expensive valuations of the Indian market and of ‘growth’ stocks pose risks to market performance. We expect a de-rating in the multiples of ‘growth’ stocks as the market reconciles to (1) ‘high’ rates through 2023 and (2) limited acceleration in economic growth.
>> We expect lower returns across asset classes (bonds, equities, real estate) in an era of normal interest rates compared to very high returns in an era of low interest rates in the past three decades.
> The expensive valuations of the Indian market and of ‘growth’ stocks pose risks to market performance. We expect a de-rating in the multiples of ‘growth’ stocks as the market reconciles to (1) ‘high’ rates through 2023 and (2) limited acceleration in economic growth.
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Brokerage Call :: Jefferies turns 'positive' on Indian metals
>> Position changes fro 'cautious' stance
>> Easing Covid curbs in China. support to property sector key triggers
>> Worst in terms of margin could be behind the sector
>> Tata Steel's P/B is close to its long-term averages
>> Valuations are attractive amid improving asset footprint and balance sheet
>> View: Tata Steel (Buy; TP: Rs 150), Hindalco (Buy; TP: 600)
>> Easing Covid curbs in China. support to property sector key triggers
>> Worst in terms of margin could be behind the sector
>> Tata Steel's P/B is close to its long-term averages
>> Valuations are attractive amid improving asset footprint and balance sheet
>> View: Tata Steel (Buy; TP: Rs 150), Hindalco (Buy; TP: 600)
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RBI may look at mid-segment of yield curve for better yield curve signaling, says SBI Ecowrap report
>> Financial markets in 2022 have remained volatile and edgy with the central banks globally in unison in a rate hike cycle.
>> With the prospect of a global slowdown in 2023, it could be eminently possible that central banks in respective countries start to unwind rates even in unison as inflation comes off the boil and slowdown starts to bite.
>> With the prospect of a global slowdown in 2023, it could be eminently possible that central banks in respective countries start to unwind rates even in unison as inflation comes off the boil and slowdown starts to bite.
>> We believe that equity and bonds become less correlated when the economic cycle slows. Challenges for investors also increases when both bond prices as well as equity prices fall together.
>> 1% increase in difference (spread) between yields of 5 year government bond yield with respect to 1 year government bond yield is found to increase volatility of BSE SENSEX returns by 4.26 unit. This clearly indicates that the RBI may look at the mid segment of the yield curve more specifically in terms of signaling.
>> 1% increase in difference (spread) between yields of 5 year government bond yield with respect to 1 year government bond yield is found to increase volatility of BSE SENSEX returns by 4.26 unit. This clearly indicates that the RBI may look at the mid segment of the yield curve more specifically in terms of signaling.
8:46 AM
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Cues for the week :: China Covid, macro data, global trends to drive markets
"As market players attempt to understand the Fed's stance, Indian markets may respond in lockstep with their international counterparts when the Federal Open Market Committee (FOMC) minutes are made public later this week. Back home, the New Year is poised to begin with auto numbers," said Apurva Sheth, Head of Market Perspectives, Samco Securities. READ MORE
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8:43 AM
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Gold may touch new high of Rs 62,000 this year on back of dollar weakness
According to Axis Securities, gold will continue to have an edge over other asset classes until a clear direction emerges at the macro level of the geopolitical crisis, inflation, and commodity prices.
With central banks at the peak of their rate-hike cycle, gold will continue to attract investments. The brokerage said that it will also benefit from mounting slowdown risks as investors look to hedge risks. READ MORE
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BS Masterclass :: Tips for 2023 financial resolutions
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WATCH :: What does 2023 have in store for Indian markets and economy?
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After a positive year, Sensex witnesses worst December in 10 years
The year 2022 has been a good one for the benchmark Sensex, but it had the worst December in 10 years. The Sensex declined 3.5 per cent in December - its worst last-month returns since 2011. READ MORE
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8:31 AM![](https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/16726284710092.png)
Dec Auto Sales :: Ashok Leyland's domestic sales zoom 49% YoY
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Play safe, but play to win: From ITC to L&T, best blue-chips for 2023
While leading Indian indices ended the year trumping most markets on returns, global factors could make the near-term journey into 2023 bumpy. Besides geopolitical anxiety, worries of recession, sustained inflation, and Covid making a comeback are risks investors are up against. Keep your portfolio safe for 2023 with these 10 blue-chip bargains that balance the need for returns without sacrificing safety. READ MORE
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Global economy faces tougher year in 2023: IMF's Kristalina Georgieva
IMF Managing Director Kristalina Georgieva comments suggest another cut to both the China and global growth outlooks may be in the offing later this month when the IMF typically unveils updated forecasts during the World Economic Forum in Davos, Switzerland. READ MORE
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8:24 AM![]()
Business Standard CEOs poll: Capex tops India Inc's 2023 to-do list
Indian companies are planning to increase investments in the new year to expand capacity, acquire companies, and go on a hiring spree, a survey of top executives showed. They, however, cited rising costs, weak consumer demand, and increasing interest rates as major concerns for 2023 which may impact their plans. READ MORE
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8:21 AM
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Fund Flow :: DIIs buy equities worth Rs 2,266 crore on Friday
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8:20 AM
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Fund flow :: FIIs sell equities worth Rs 2,951 crore on Friday
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8:18 AM![](https://bsmedia.business-standard.com/_media/bs/img/live-blog/full/16726277237037.png)
Rupee check :: INR ends near 83/$ on last trading day of 2022
Source: Bloomberg
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Topics : Coronavirus MARKET WRAP Markets Markets Sensex Nifty S&P BSE Sensex Nifty50 China stocks to watch stock market trading stock market investing Wall Street Tata Consultancy Services Maruti Suzuki
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First Published: Jan 02 2023 | 8:04 AM IST