Domestic brokerage firm Kotak Institutional Equities suggests that there are no immediate negative factors that could prompt a significant correction in the market. However, it highlights overvaluation in the majority of sectors and stocks, with the market willing to overpay for weak business models
The Nifty 50 index, representing the top 50 blue-chip companies, has seen a significant downturn primarily driven by selling in banking stocks. Foreign portfolio investors have been actively selling, withdrawing over ₹28,000 crore from Indian markets.
Hindustan Zinc may have to explore alternative strategies other than handing out cash for the proposed $2.98 billion acquisition of Vedanta’s zinc assets
Asset management companies mobilised Rs 17,805 crore through 67 new fund offerings (NFOs) in the September 2022 quarter, a 64 per cent decline from the year-ago period,