Sensex Gains 235 points on rating upgrade

Stock market investors cheered India’s global rating agency Moody’s upgrading India’s sovereign rating by one notch to Baa2. The benchmark index BSE Sensex rise by 271.65 points on Friday with both foreign and domestic investors rushing to buy.

In the first hour of trade, the Sensex was sharply higher by 414 points or 1.23 per cent. Nifty-50 scaled an intra-day high of 10,343.60. Profit-taking, however, emerged and the 30-share index ended the day 235.98 points or 0.71 per cent. Nifty-50 settled the day at 10,283.60, up 0.67 per cent.

Rupee, bond rally

India’s first rating upgrade in nearly 14 years by Moody’s Investor Service is likely to be positive for both bond and the currency market. An improved rating will help the country attract more foreign investments as India’s equity markets will now fall within the investment mandate of more global fund managers.

IIFL’s 5Paisa Capital lists with huge price difference

IIFL Holdings’ subsidiary 5Paisa Capital listed on the bourses on Thursday as the first listed financial marketplace in India. But the price discovery process for the demerged business led to a huge difference in its listing price on BSE and NSE.

On the BSE, 5Paisa capital listed at Rs 650 a share while on the NSE it listed at Rs 400 per share.

The demerger of 5Paisa Capital from IIFL Holdings was announced last year in October.

One month returns slip to negative after top results

Shares of the private banks, which saw a huge rally this year, took a knock last month with two of the private bank biggies, Axis Bank and Yes Bank’s second quarter (July-September 2017) disclosing higher non performing assets as assessed by RBI and a big divergence from what they reported for the period ended on March 31.

Outlook gloomy for corporate loans focused private banks

Top private sector banks focussed on corporate loans continued to report a rise in bad loans. For the second quarter ended September 30, 2017, banks such as Axis Bank and Yes Bank reported discomforting non-performing loans divergence (difference between the RBI's assessment and the bank's reported non-performing loans) – one that is growing not just in absolute amount but even as percentage of loans.

Investors run for safety amidst weak macro numbers, global cues

Stock market's benchmark indices Sensex and Nifty-50 fell for third consecutive session as pressure mounted on investors to book some profit due to weak global cues and poor macro-economic economic data with trade deficit for October hitting aq three-year high, inflation for October rising to a seven-month high and the rise in crude oil price raising concerns of possible fiscal slippage.

The Sensex lost 181 points, closing at 32,760. The Nifty-50 closed at 10,118, down 68.55 points.

The one Take actor

With every film and character that she plays on-screen, it’s her obsession to get it perfect at a go and that makes Sridevi believe that she is a one-take actor. “I don’t remember doing more than one take for a film. I think the first take is best as you are spontaneous and after that it becomes a mechanical thing. I don’t believe in second take at all,” Sridevi says in an interview with PTI. For the Chaalbaaz actor it is the quality of a role that is of utmost importance to her.

IPOs are a rage, but retail participation is minuscule

Despite the ongoing boom in the primary market, the retail participation in initial public offerings (IPO) is woefully low in India. An analysis of IPOs that have hit the market in 2017 so far shows that less than 20 lakh retail investors are applying for an issue.

This is a miniscule number considering that India has close to three crore demat account holders. This means that only 6.66 per cent of the investing community is applying for IPOs.