Market Close Highlights: Sensex ends 50 pts lower at 79,500; Nifty at 24,150; PSB, Oil drag, IT up
Stock Market Highlights: Benchmark Indian equity indices ended in the red for the second straight session on Friday, weighed most by financial and OMC stocks
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Share Market Today: The BSE Sensex shed 55.47 points or 0.07 per cent to settle at 79,486.32, while the Nifty 50 declined 51.15 points or 0.21 per cent to 24,148.20. (Photo: Bloomberg)
Stock Market Highlights, Friday, November 8, 2024: Benchmark equity indices, BSE Sensex and NSE Nifty50, ended in the red for the second consecutive session on Friday.
The BSE Sensex shed 55.47 points or 0.07 per cent to settle at 79,486.32, while the Nifty 50 declined 51.15 points or 0.21 per cent to 24,148.20.
As many as 27 out of 50 NSE Nifty50 constituent stocks ended in the red, dragged down by Trent, Coal India, Tata Steel, Asian Paints, and State Bank of India, with losses extending up to 3.50 per cent.
Conversely, Mahindra & Mahindra, Titan, Tech Mahindra, Nestle India, and Infosys were among 23 constituent stocks of Nifty50 that managed to settle in the green on Friday, with gains extending up to 2.40 per cent.
The broader markets settled in the red, with Nifty Midcap100 and Nifty Smallcap100 falling 1.33 per cent and 1.70 per cent, respectively.
All sectoral indices ended in the red, except for Nifty IT, Pharma and FMCG. Nifty Realty, and Media were the top laggards among the sectoral indices, falling by over 2 per cent each.
Devina Mehra at BS BFSI Summit
At the BS BFSI Summit, Devina Mehra, chairperson, managing director, and founder of First Global, offered an incisive perspective on the current state of the Indian equity market. In equity markets, he said one has to take a long-term view and have a good amount of investment in equity.
"I am not saying put 100 per cent of your corpus in equity, but don't change your equity allocation too often either. I am not saying the markets will not go down from here. I don't see a sustained crash in large-caps. But many of those small-, mid-, micro-caps, where there is froth, can be at risk," she said.
4:08 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Losing the demographic dividend the biggest risk to economy for now, because we can't seem to find jobs for a lot of people. And this drives a lot of factors like consumption, among others.
4:07 PM
Underweight on capital goods and industrials.![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Overweight on health, pharma, auto components, IT, chemicals and FMCG.
Underweight on capital goods and industrials.
4:03 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Fundamentally something has changed in investing. Earlier the edge was information, you meet companies and get information but now information arbitrage is not the edge.
Today, the edge is who can analyse this mass of data without bias and without noise as human knowledge brings bias.
4:03 PM![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Because a lot of method being used today is of 1990s' vintage, a lot of fund managers do not outperform.
3:59 PM![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Only thing certain in high risks are high losses; high returns are not certain.
3:57 PM![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: I think the regulator has done a fine job and they have also been warning about stress where they see it and changes in the F&O market were also required.
3:56 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Investing is a losers game. You win if you don't lose (money).
3:53 PM![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: If you look sectorally, we are not at the lower end of the PE but we are also not at the extreme end of it and India has always been an expensive market.
3:52 PM
They've a structural issue as their population is shrinking, so if there's unsold household inventory, how will stimulus measures help with that?
But it is not China vs India, as China is the larges component of the EM index.![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: China factor will be important with regard to commodity prices.
They've a structural issue as their population is shrinking, so if there's unsold household inventory, how will stimulus measures help with that?
But it is not China vs India, as China is the larges component of the EM index.
3:50 PM
There are some outlier times, when you see there is an imminent crash.![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: Take the long view in equity markets.
Have a good equity allocation, but never put 100% in equities, as there could be unexpected outflows.
There are some outlier times, when you see there is an imminent crash.
3:48 PM![]()
Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: We have reduced anything below 5 thousand crore market capitalisation to 5-6 per cent in our PMS from 14-15 per cent earlier.
3:46 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: There are enough areas in the market where there is froth - those are the areas that you need to be careful, whether it's the IPO frenzy, the smallcaps or microcaps.
In that context, people should remember that of all the companies that were listed in India - more than half have gone to zero as they are not listed anymore.
3:43 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: If the market is a little uncertain it does not make sense to get out of the market. All of us understand the risks of losing money but there is a risk of not investing also.
In the last 40 years if you miss out on the 10 best days - you have missed out on two thirds of your returns and if you miss out on 30 best days, then you miss out on 90 per cent of returns.
3:35 PM
Stock Market LIVE Updates: Nifty50 closes below 24,150
The NSE's Nifty50 closed at 24,148 level, down 51 points or 0.21 per cent.
3:34 PM
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Stock Market LIVE Updates: BS BFSI Insight Summit - Devina Mehra on Indian equities in EM landscape
Stock Market LIVE Updates: Devina Mehra: If you look at the data, Indian markets gives a return of 15% returns since 40 odd years, but equities are inherently volatile. The volitility is on a long-term period.
Betweem 2010-20, we compunded just over 8.5 per cent.
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First Published: Nov 08 2024 | 8:03 AM IST
