Mumbai: Most brokerages have cut Nifty earnings by over 5 per cent, with many Nifty companies’ earnings per share (EPS) being downgraded.
“Earnings growth story that was expected to pick up meaningfully this year is getting derailed. We have lowered the Nifty’s earnings by about 5 per cent due to overall slowdown in the economy, post-June 2019 corporate earnings and expectation of a weak second quarter.
Mumbai: Domestic equity benchmark BSE Sensex started on a choppy note on Wednesday tracking weakness in metal and banking stocks amid tepid cues from global markets.
After opening slightly higher than its previous close, the 30-share index slipped into the red to trade 12.46 points, or 0.03 per cent, lower at 37,628.81 at 0930 hours, while the broader Nifty fell 7.30 points, or 0.06 per cent, to 11,098.05 in early trade.
Domestic equity benchmark BSE Sensex rallied over 662 points in opening session on Monday after the government rolled back the enhanced surcharge on foreign portfolio investors, and unveiled a slew of measures to boost the economy.
The 30-share index, however, pared some gains as investors began booking profits at higher levels. The index was trading 245.71 points, or 0.67 per cent, up at 36,946.87 at 0930 hours.
After FM Nirmala Sitharaman announced a slew of measures in a bid to calm the nerves of the investors, stock market experts say that the Sensex and Nifty may see a relief rally in the coming days. In what would come as a major relief to stock market investors, Finance Minister Nirmala Sitharaman on August 23 announced the abolition of tax surcharge on foreign portfolio investors (FPIs) as well as domestic investors.
Domestic equity benchmark BSE Sensex rose over 100 points in early trade on Tuesday led by gains in IT stocks amid positive cues from global markets. The 30-share was trading 100.23 points or 0.27 per cent higher at 37,502.72 at 0930 hours; and the broader Nifty too rose 16.15 points or 0.15 per cent to 11,070.05 in morning trade.
In the previous session on Monday, the 30-share Sensex settled 52.16 points, or 0.14 per cent, higher at 37,402.49, and the NSE Nifty edged 6.10 points, or 0.06 per cent, up at 11,053.90.
Domestic equity benchmark BSE Sensex rose over 200 points in early trade on Monday tracking gains in index heavyweights RIL, ICICI Bank and Infosys amid positive global cues.
The 30-share index pared some opening gains to trade 129.01 points or 0.35 % higher at 37,479.34 at 0945 hours; and the broader Nifty too rose 37.45 points or 0.34 per cent to 11,085.25 in morning trade.
Domestic equity benchmark BSE Sensex dropped over 300 points in early trade on Friday tracking losses in metal, auto, IT and banking stocks.
The 30-share index pared some opening losses to trade 248.25 points or 0.67 per cent lower at 37,063.28 at 0930 hours; and the broader Nifty too fell 67.45 points or 0.61 per cent to 10,961.95 in morning trade.
Mumbai: Domestic equity benchmark BSE Sensex rebounded by nearly 300 points in early trade on Wednesday, led by gains in index heavyweights RIL, HDFC and Infosys, amid positive cues from other global markets.
Easing inflation numbers, released after market hours on Tuesday, too helped the recovery in domestic market sentiment, traders said.
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