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Factors pushing the Sensex and Nifty to new highs

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After its worst day in ten months, the stock market regained its footing on Tuesday. Even as global markets remained on edge amid rising Russia-Ukraine tensions, increases in IT and consumer stocks aided the unexpected recovery.

NIFTY GAIN, SENSEX

The NSE Nifty 50 index increased 1.08 per cent to 17,024.40 points, while the S&P BSE Sensex increased 1.11 per cent to 57,030.60 points.

Both indices had lost 3% the day before in the previous session.

FACTORS TO CONSIDER PRIMARY

Greater Following a drop in U.S. and European stock markets on Monday, Asian stock markets were flat as investors considered the implications of a possible Russian invasion of Ukraine.

According to a Reuters storey, “people are seeking at every opportunity to exit their leveraged holdings,” said AK Prabhakar, head of research at IDBI Capital in Mumbai, citing headwinds such as geopolitical uncertainties, increased crude oil prices, and expected U.S. interest rate hikes.

“People aren’t generating money now that the impetus has died. Investors want to get out of leveraged positions because of the prospect of increasing interest rates and selling from foreign funds.”

FOCUS ON STOCKS

In tumultuous markets, defensive stocks such as information technology and fast-moving consumer products gained traction. The Nifty IT index increased by 1.6%, while the Nifty FMCG index increased by 12%.

Individual stocks sank 4.5 per cent after Cipla’s promoter group sold a 2.5 per cent interest in the firm, and Manappuram Finance dropped more than 10% on reduced quarterly profit.

“Stocks are currently trading under their 50- & 200-day moving averages, making it difficult to hold onto them. Staying on the side-lines rather than taking chances is a better way to protect your money “In a note, analysts William O Neil India wrote.

Meanwhile, BofA Securities lowered its December 2022 Nifty goal to 17,000 from 19,100, citing a potential narrowing of market breadth and increased volatility.

A mix of multi-year CAPEX, credit expansion, start-up cycles, and ‘growth-focused’ fiscal and monetary policies, according to BofA analysts, could cause India’s corporate profitability to outperform nominal gross domestic growth.

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Navi Mumbai Police Seize Drugs Worth ₹1.10 Crore, Arrest Three in Pre-Dawn Raid

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In a major crackdown on drug trafficking and illegal immigration, the Navi Mumbai Police conducted a pre-dawn raid on Thursday, seizing narcotics worth Rs1.10 crore and arresting three African nationals.

Acting on directives from Commissioner of Police Milind Bharambe, the Anti-Narcotics Cell and Crime Branch launched a coordinated operation at 4:00 AM. The raid, led by Assistant Commissioner Bhausaheb Dhole and Inspector Sandeep Nigde, involved 125 police officers targeting 11 locations across the Commissionerate.

Authorities confiscated 118.48 grams of high-quality cocaine worth Rs59.24 lakh, 100.84 grams of MD powder valued at Rs50.42 lakh, and Rs43,500 in cash. A total of 35 African nationals were screened, and three individuals found in possession of narcotics were arrested under the NDPS Act at Ulwe Police Station.

Additionally, 11 individuals with expired visas and passports were served Leave India Notices, as part of the police’s intensified efforts against illegal immigration.

The Navi Mumbai Police have vowed to continue their crackdown on drug trafficking and unlawful activities, warning of strict action against offenders.

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On February 15, CIDCO Will Conduct A Computerized Lottery Draw For The “My Preferred CIDCO Home” Program

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CIDCO to hold computerised lottery draw for “My Preferred CIDCO Home” scheme on February 15.

The Lottery

The City and Industrial Development Corporation (CIDCO) will hold the computerised lottery draw for its highly anticipated “My Preferred CIDCO Home” housing scheme on Saturday, February 15, 2025, at 11:00 AM. The event will take place at Raigad Estate, Phase I, Sector-28, Taloja Panchanand, Panvel, and will be streamed live on the CIDCO website for applicants to watch in real time.

Launched on October 12, 2024, the scheme aims to provide affordable housing under the Pradhan Mantri Awas Yojana (PMAY) for the Economically Weaker Section (EWS) and Low-Income Group (LIG) categories. A total of 26,000 tenements have been made available across Navi Mumbai in key locations such as Vashi, Bamandongri, Kharkopar, Kharghar, Mansarovar, Khandeshwar, Panvel, and Kalamboli.

A key feature of this scheme was that applicants could select up to 15 preferred tenements, making it highly flexible and attracting overwhelming participation.

The live webcast of the draw can be accessed on cidcohomes.com, ensuring transparency in the process. After the draw, the list of successful applicants will be published on lottery.cidcoindia.com.

With this initiative, CIDCO continues its mission to provide affordable housing and fulfill the dream of homeownership for thousands in Navi Mumbai.

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Construction Projects Must Utilize Tertiary Processed Recycled Water, Under NMMC Regulations

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NMMC mandates use of tertiary treated recycled water for construction projects.

The Regulation

In a major step towards water conservation, the Navi Mumbai Municipal Corporation (NMMC) has made it mandatory for developers to use tertiary treated recycled water in all construction projects approved by the Town Planning Department.

The initiative aims to curb the rising demand for potable water as the city grapples with declining rainfall and increasing concerns over water scarcity. With several redevelopment projects underway, the consumption of drinking water for construction has surged, putting additional strain on resources.

To address this, NMMC is leveraging its advanced sewage treatment infrastructure. The city currently operates seven sewage treatment plants using Sequential Batch Reactor (SBR) technology. Additionally, tertiary treatment plants at Koparkhairane and Airoli utilize Ultra Filtration and Ultraviolet-Based Technology to further purify secondary treated water. This recycled water is already being supplied to industrial establishments in the Maharashtra Industrial Development Corporation (MIDC) area for non-potable use.

By enforcing the use of recycled water in construction, NMMC aims to reduce reliance on drinking water and promote sustainability. This regulation is expected to play a crucial role in preserving Navi Mumbai’s water resources for the future while ensuring responsible urban development.

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