Companies and Markets

Companies & Markets

Mutual funds invests Rs 5,234 cr in stocks last month

Mutual fund managers purchased stocks worth Rs 5,234 crore on net basis in January -- making it the sixth straight monthly inflow -- after retail investors continued to put money in equity schemes.

Besides, fund managers pumped in over Rs 31,000 crore in the debt market last month.

According to the data released by the Securities and Exchange Board of India (Sebi), mutual fund managers invested a net sum of Rs 5,234 crore last month.

Sensex climbs 161 pts on rate cut hope, positive global cues

The benchmark BSE Sensex surged about 161 points to 28,401.47 in opening trade today as investors and funds widened their bets amid hopes of a rate cut by the Reserve Bank amid a firming trend in global markets.

Moreover, the rupee appreciating by another 10 paise to 67.21 against the dollar in early trade today sent out positive vibes to the stock markets. Extending its post-Budget rally for the fourth straight day, the BSE 30-share barometer surged 160.95 points, or 0.57 per cent, to 28,401.47.

MFs file papers with Sebi for 12 new offerings so far in 2017

With mutual funds gaining traction among retail investors, asset management companies have filed draft offer documents with market regulator Sebi for as many as 12 new schemes since the beginning of this year.
Equity, debt and fixed maturity plans (FMPs) are some of the themes for which the MF houses have filed the applications.
Fund houses from Sundaram, Edelweiss, ICICI Prudential, Reliance, DSP BlackRock, SBI, HDFC and IDFC have filed the offer documents for new fund offers (NFOs) with the Securities and Exchange Board of India (Sebi).

BSE makes stellar debut at NSE, lists with nearly 35% premium

Shares of BSE made a stellar debut at the National Stock Exchange (NSE) today, surging nearly 35 per cent against the issue price of Rs 806.

The stock listed on NSE at Rs 1,085, reflecting a huge jump of 34.61 per cent over the issue price. Later, it touched a high of Rs 1,200, up 48.88 per cent.

On the volume front, over 15 lakh shares of the exchange were traded during the early trade on NSE. The combined market capitalisation of BSE-listed companies also hit a record high of Rs 115 lakh crore.

Sensex builds on gains, up 54 pts in opening trade

The benchmark BSE Sensex made a decent start climbing 54 points to 28,281 in opening trade today on sustained buying by investors amid foreign fund inflows and mixed Asian cues.

The 30-share index was trading higher by 53.97 points, or 0.19 per cent, at 28,280.58, with healthcare, PSU, technology, metal, realty, oil and gas and power goods stocks staying in good shape.

The gauge had gained 570.65 points in the previous two sessions as the markets gave a thumbs up to the Budget.

BSE to start trading on NSE from tomorrow

BSE, which recently concluded its Rs 1,243-crore initial public offering, will list on rival National Stock Exchange (NSE) tomorrow.

The issue, which was also the first share sale by a domestic stock exchange, was open to bidding on January 23-25. The IPO saw robust investor demand and was oversubscribed 51.22 times.

During the initial share sale, shareholders offered 1.54 crore shares estimated to be worth around Rs 1,243.44 crore at the higher end of the price band. The price band was fixed at Rs 805-806.

Sensex slips 51 pts after a power-packed show

After yesterday's strong momentum, powered by the Budget proposals, the benchmark BSE Sensex fell about 51 points in initial trading today due to a rush to take profit amid weak Asia cues.

The NSE Nifty broke below the key 8,700-mark. The 30-share BSE index dropped 50.61 points, or 0.18 per cent, to 28,091.03, with metal, auto, capital goods, IT and realty stocks feeling the squeeze.

The gauge had rallied 486 points yesterday, spurred by a series of market-friendly budget moves.

Stock markets hail Budget, Sensex rallies 486 points

The Union Budget 2017-18 provided the feel-good factor as the Sensex today leaped close to 486 points to close at an over 3-month high of 28,142, with financial and realty stocks powering the momentum.

Markets welcomed the budgetary proposals of infusing Rs 10,000 crore in public sector banks and keeping long-term capital gains tax (LTCG) and short-term tax rate (STCG) unchanged for the capital market.

Sensex spurts in opening trade ahead of Budget

Market rose by over 64 points in opening trade today as investors built up positions ahead of the Union budget, which is slated to be unveiled later in the day.

The rupee appreciating 24 paise to 67.63 against the dollar added to the positivity.

The 30-share BSE index, which had lost 226.50 points in the previous two sessions, recovered 64.15 points, or 0.23 per cent, to 27,720.11.

Similarly, the NSE Nifty moved up 21.90 points, or 0.26 per cent, to 8,583.20.

IT stocks tank over visa bill

IT stocks fell sharply as news emerged that a new H1-B visa bill tabled in the US House of Representatives could upset the hiring plans of Indian technology firms. Shares of the top five Indian IT firms—Tata Consultancy Services, Infosys Technologies, HCL Technologies, Wipro and Tech Mahindra—fell between 2 per cent and 5 per cent, wiping off their market capitalisation by Rs 33,057.53 crore.
The BSE IT index fell 2.96 per cent as the IT sector was hit the hardest among the sectoral indices on Tuesday.