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NEW DELHI: Domestic equity indices, BSE Sensex and NSE Nifty, were trading in red on Friday on account of selling in frontline bluechip counters.
Shares of Eveready Industries ( 20 per cent) , Natural Capsule ( 19.98 per cent) , Binny Ltd ( 19.98 per cent) , Sadhana Nitrochem ( 19.90 per cent) , National Fertilizers ( 18.11 per cent) , Aditya Consumer Mark ( 15.88 per cent) , Praj Industries ( 14.22 per cent) , Andrew Yule ( 14.14 per cent) , Dredging Corp ( 14.11 per cent) and Rane (Madras) ( 14.02 per cent) rallied over 10 per cent.
The 30-share Sensex was trading 1813.09 points down at 49226.22 while the 50-share Nifty index was 537.15 points down at 14560.2.
In the Nifty 50 index, 0 stocks were trading in the green, while 49 stocks were in the red.
Synopsis
Raamdeo Agrawal was talking about companies like Netflix and Tesla that have blown billions in acquiring customers. The market valuation of Tesla is more than the combined valuation of the next nine largest auto companies.
ETMGS 2021 Day 3: Valuations of stocks like Tesla and Netflix very strange, says Raamdeo Agrawal
NEW DELHI: Veteran investor Raamdeo Agrawal, chairman & co-founder of Motilal Oswal Financial Services, finds the valuations of stocks like Tesla and Netflix very strange.
“Today there is euphoria. Clearly, there is too much optimism riding. In giving valuations, you are not discounting what the company has earned in the last five years but discounting what it may earn in the next 25 years. This is bizarre,” said Agrawal while speaking at
India delivered the third-highest return among key global markets in local currency terms, with returns of 9 per cent. In US dollar terms, India’s performance was more subdued with returns of 3 per cent compared with 12 per cent for the S&P 500, 8 per cent for Japan, and 5 per cent for Taiwan, a report from Motilal Oswal Financial Services observed. Indian markets, however, outperformed the MSCI EM (1 per cent) and beat other emerging markets such as China, Russia, and Brazil, which gave negative returns. India has maintained its market capitalisation ranking at number 8 with an m-cap of $2.5 trillion after slipping to number 10 in 2015. China, which was at number 5 in 2010, is now at number 2 with an m-cap of $10.9 trillion. The world m-cap has nearly doubled in the past decade to $103 trillion.
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NEW DELHI: Nifty breached its 14,000 levels and touched its all-time high in the intraday session on Thursday and formed an indecisive candle on the daily chart. The 50-pack formed consecutive indecisive candles in the recent sessions, which signals towards caution that is being employed by the market participants with consistent profit booking and buying on dips approach.
Ajit Mishra, VP - Research at Religare Broking opined, investors would await the auto sales numbers and PMI data as it would help in gauging the economic recovery. Further, global cues are likely to dictate the trend for the markets in the near term. We reiterate our cautious stance on the markets.
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NEW DELHI: Nifty again touched its lifetime high, but shied away from breaching the crucial mark of 14,000 in today s trade and formed a Dragonfly Doji formation for the day, signalling indecisiveness in the market. Nifty continued its winning streak for the sixth consecutive session, but the recent indecisive candles call for caution with the trade.
Rohit Singre, Senior Technical Analyst at LKP Securities said, The index has reached its immediate and strong hurdle zone of 14,000-mark and if Nifty managed to hold above the 14,000-mark, then only we may see the current bullish momentum to extend further towards the 14,200 zone. Otherwise, some profit booking can be witnessed and the index is likely to trade in the range of 13,800-14,000 zone.