The market capitalisation of BSE-listed companies dropped below Rs lakh crore momentarily during the session. Restriction of economic activity in many parts of the country might impact economic recovery, said an analyst.
Apart from massive outperformance by equity markets, prevailing high valuation is another reason why equity investors should be cautious now.
Should investors exit the market now? After the growth-led rally, the value segment seems to be catching up now. Experts say these style shifts usually last a few years, so there is still steam left in value stocks. This also because of the structural shift happening in our economy.
On the contrary, they appear to be cautious. There is a significant change in FPI investment strategy in recent weeks. They are buying bonds aggressively for the first time in and persisting with selling in the equity markets. India recorded 1,69, Covid cases in the last 24 hours, the highest ever daily increase in infections. Even though Covid cases are rising in many areas, it is clear that in the race between the vaccine and the pandemic, the vaccine would win, said one analyst.
With parts of Europe going through the third wave of infections and regional lockdowns, global GDP growth is likely to be below estimates, said an analyst. The second wave of infection in India has resulted in reimposition of lockdown in several parts of the country, meaning business disruptions. Moreover, the rise in yields is likely to result in outflows. Concerns over rising bond yields resurfaced. Most Asian markets fell 1. Corrections are the time to buy.
By and large, bond yields are inversely proportional to equity returns. When bond yields rise, equity markets tend to underperform. Indices have been consolidating for a while, however, all dips are being bought eventually. Foreign institutional investors have continued to pour money in India, providing massive support to market rally. In the share pack Nifty, Tata Motors was the biggest gainer, up 4.
The sharp drop in largecap indices is coming after a multi-month rally. Choose your reason below and click on the Report button. This will alert our moderators to take action. Stock analysis. Market Research. Nifty 18, Market Watch. ET NOW. Brand Solutions.
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Commodities Views News. Forex Forex News. Currency Converter. Trend 26 Oct' Market Stats Equities. Set refresh rate to: Refresh Now 40 Seconds 1 minute 2 minutes 3 minutes Stop auto refresh. From Date To Date Go. It had posted a net profit of Rs Sensex jumps points on strong earnings, firm global cues Oct 26, , Further, a firm global market setup also kept investor mood buoyant.
After a firm selloff on Monday, buying returned to broader markets, with BSE Midcap and Smallcap indices up between 0. All sectors on NSE traded on a firm note.
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