The richly valued stock market that was looking up to the earnings season for further upsides got an unexpected shot in the arm last week when the government announced a $138-billion stimulus to drive up growth in the sagging economy.
Options trading in commodities had a good start last week, increasing the trade volumes of gold contracts. The market is looking forward for the launch of options in more commodities as well as contracts of different lot sizes.
Housing in the country has always been synonymous with the word ‘unaffordable’. While most people strive to own a few simple square feet of security, the real estate market is often flooded with so-called premium or luxury properties.
Having just three full trading sessions, the market was expected to witness lacklustre trading, given the holiday mood prevailed on the street. But the quarterly result from one private bank was enough to unsettle the entire stock market.
The second quarter was a period of churn in stock holdings. The three months from July to September 2017 saw foreign investors cashing out in many blue chips and moving on to pick some low hanging stocks.
Research reports from brokerage houses come out in full force twice in a year. First during Diwali and then at the start of a new calendar year. As we move into the Diwali week, we are already flooded with special reports on Diwali picks.
The September quarter earnings season kicking off this week would reflect the impact of catalysts like GST rollout, demonetisation, early festive season buying, higher raw material cost, rupee-dollar exchange rate and monsoon rains.
Considered one of the wizards of the Indian stock market, Ramesh S Damani has an eye for high quality value stocks that go in time to become multi-baggers. An individual equity investor, he is also the founder of Ramesh S Damani Finance and has a net-worth of $1.24 billion.
Although in the short run the market may remain volatile, but in the longer term Indian capital markets are poised for a consistent higher growth in the decade to come. It could mainly be due to stable economic and political scenario coupled with implementation of business-friendly reforms.
With the start of the tapping season, rubber prices are expected to ease for the next couple of months. But if international prices remain firm, there are slim chances of any significant correction.
A decent monsoon rains in most parts of the country has brightened the prospect of sugar production in the country as plantation acreage has increased over the previous year.
Cement companies, under our coverage, are likely to report average Ebitda per tonne decline of Rs 100 per tonne YoY and Rs 240 per tonne QoQ, mainly led by cost escalations that could not be passed-on owing to seasonality.
While the Nifty closed last week with nearly 2 per cent gain, the confidence level in the market was rather weak.
After staying below its 50-day moving average (DMA) for seven trading sessions, the Nifty finally climbed above the average on Friday. This was a key move for the index. Between December 2016 and October 6, 2017, the Nifty had taken support on this average only twice.
A massive sell-off rocked the domestic market last past week, shaking investor confidence as geo-political risk and worries about the slowing economy haunted the market.