Stock Market Close Highlights: Sensex sheds 836pts; Nifty ends below 24,200; all sectors end in red
Share Market Highlights: Apollo Hospitals, HDFC Life, SBI, and TCS were the only four Nifty50 constituent stocks to manage to settle in the green on Thursday
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Bears took control on D-Street as 46 out of 50 constituent stocks of the NSE Nifty50 ended in the red, dragged down by Hindalco, Trent, Grasim, Shriram Finance, and Adani Enterprises with losses extending up to 8.42 per cent.
12:56 PM
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Sunil Singhania: Q3 results will be the deciding factor for how India equities would fare in the near-term
12:55 PM
Historically Indian did not have huge manufacturing set up but now the manufacturing is picking up rapidly. When such things happen, it will benefit the corporates. Hence, it would aid profitability of the companies.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Vikas Khemani: In India, MSME is growing really well.
Historically Indian did not have huge manufacturing set up but now the manufacturing is picking up rapidly. When such things happen, it will benefit the corporates. Hence, it would aid profitability of the companies.
12:53 PM
Corporate profits should grow at 12% CAGR.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Prashant Jain: If things are under control why are companies not reflecting the same. If you look at the topline growth, margin expansion of the companies this year, you cannot see the growth. The upside to margins are limited.
Corporate profits should grow at 12% CAGR.
12:52 PM
We are seeing increase in NPAs in small-ticket retail loans.
Last few years, consumption has been supported by EMIs and rising household leverage.
The growth in consumption should be moderate, and I am not surprised.
The lower inflation is great, but it also means lower growth in Rupee terms, and that is why the cost of capital has come down
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Prashant Jain: India's growth is sustainable. Macro indicators are healty. However, household debt to GDP is not so low.
We are seeing increase in NPAs in small-ticket retail loans.
Last few years, consumption has been supported by EMIs and rising household leverage.
The growth in consumption should be moderate, and I am not surprised.
The lower inflation is great, but it also means lower growth in Rupee terms, and that is why the cost of capital has come down
12:48 PM
The mistake I made early on in my carrier was to not buy stocks which were expensive in the very near term, I believe something good will always be expensive. And at this point, India is at a very good phase of growth comparatively to the world.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Sunil Singhania: Only PE in isolation can not be an indicator of whether something is expensive or cheap, however its important.
The mistake I made early on in my carrier was to not buy stocks which were expensive in the very near term, I believe something good will always be expensive. And at this point, India is at a very good phase of growth comparatively to the world.
12:46 PM
At the country level, major structural reforms have happened in India.
Historically, there are a few factors that bring risk. These are current account deficit, fiscal deficit, the banking system, inflation, and debt to GDP ratio.
We are on very strong footing on these factors, in the pink of health because of the reforms brought in by the government. Hence it looks like in the next 5, 7 years, these are going to carry us ahead in terms of having sustainable corporate profit growth.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Vikas Khemani: Longer the growth, higher the valutaion. Higher the growth, Higher the valuation.
At the country level, major structural reforms have happened in India.
Historically, there are a few factors that bring risk. These are current account deficit, fiscal deficit, the banking system, inflation, and debt to GDP ratio.
We are on very strong footing on these factors, in the pink of health because of the reforms brought in by the government. Hence it looks like in the next 5, 7 years, these are going to carry us ahead in terms of having sustainable corporate profit growth.
12:40 PM
Longer-term returns have been in mid-teens and that is going to remain that way in long-term.
If you want fixed returns, there are several options like FDs, etc.
If you are looking at equities returns and the horizon is 5 yrs, there won't be any downside. But if your horizon is 5 days, then there are several downsides
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Sunil Singhania, Founder, Abakkus Asset Manager
Longer-term returns have been in mid-teens and that is going to remain that way in long-term.
If you want fixed returns, there are several options like FDs, etc.
If you are looking at equities returns and the horizon is 5 yrs, there won't be any downside. But if your horizon is 5 days, then there are several downsides
12:38 PM
Given the supportive external environment which is supportive of higher offshoring of services, and also overtime growth in manufacturing coupled with reforms taking place in the country are conducive for it to grow 1 per cent or higher in the future. The second change is in the cost of capital, and this coupled with higher growth, the PE multiples generally go up.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Prashant Jain: The PE multiples of Indian markets are about 20-30 per cent higher than their long term averages and this has resulted in the premium of the Indian market respective to the emerging markets. I think to a large extent this is justifiable, as two things have changed in India, one is that the country's growth prospects for next 5-10 years are marginally better than the last 10 years.
Given the supportive external environment which is supportive of higher offshoring of services, and also overtime growth in manufacturing coupled with reforms taking place in the country are conducive for it to grow 1 per cent or higher in the future. The second change is in the cost of capital, and this coupled with higher growth, the PE multiples generally go up.
12:35 PM
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Vikas Khemani, Founder, Carnelian Asset Management: Whenever an economy goes through a transformative phase, there have been a few economies that have shown sustainability… but India is doing great… And we may see significant expansion in Indian markets down the line
12:33 PM
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Vikas Khemani, Founder, Carnelian Asset Management: As India gets repaired and it has already repaired significantly, our corporate profit to GDP will keep on expanding and further go to 8-9 per cent.
12:31 PM
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Vikas Khemani, Founder, Carnelian Asset Management: Any other market is not offering sustainability or confidence in growth over the next 5, 10, 15 years
12:27 PM
This has resulted in the expansion of premium of Indian markets over other EMs.
To a large extent this is justifiable, becuase two things have changed in India.
One is India's growth prospects have improved than the last 10 odd years.
Apart from that, supportive external environment has also helped.
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Prashant Jain, CIO, 3P Investment Managers: PE multiples of Indian markets are 20-30 per cent higher than longer term averages.
This has resulted in the expansion of premium of Indian markets over other EMs.
To a large extent this is justifiable, becuase two things have changed in India.
One is India's growth prospects have improved than the last 10 odd years.
Apart from that, supportive external environment has also helped.
12:22 PM
Sunil Singhania, Founder, Abakkus Asset Manager; and
Vikas Khemani, Founder, Carnelian Asset Management, take the stage to discuss whethere the Indian premium is justified?
Stock Market LIVE Updates: BS BFSI Insights Summit - Market Gurus discuss if the Indian premium justified?
Stock Market LIVE Updates: Prashant Jain, CIO, 3P Investment Managers;
Sunil Singhania, Founder, Abakkus Asset Manager; and
Vikas Khemani, Founder, Carnelian Asset Management, take the stage to discuss whethere the Indian premium is justified?
12:20 PM
Stock Market LIVE Updates: BS BFSI Insight Summit - Mutual Fund CIOs discuss, is the market in a bubble zone?
Stock Market LIVE Updates: Anish Tawakley - India has had a good policy of restricted current account deficit and ultimately you need foreign inflows to supplement domestic savings and to fund the current account deficit and as long as the current account deficit remains about 1-2 per cent, one should not worry from where the funds will come.
So, as long as deficit is in check and investment in the economy are picking up funds will come regardless that they come from FPIs or FDIs.
12:18 PM
Stock Market LIVE Updates: BS BFSI Insight Summit - Mutual Fund CIOs discuss, is the market in a bubble zone?
Stock Market LIVE Updates: Rajeev Radhakrishnan: When speaking about relative valuations on both asset markets, for a normal investor today, would you really want to diversify? I think you need to, and possibly given where we are today in the rate cycle, a lot of fixed income products do provide value that gives you the diversification in your overall portfolio.
Or the other approach could be to approach fixed income investments through the hybrid category or the balanced products. So these are the various options that you have. But at the end of the day, it's an individual choice. Whatever allocation that you are comfortable based on your risk tolerance, and your timeline, I think that really matters.
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First Published: Nov 07 2024 | 8:00 AM IST
