VIKRAM KASAT
D-Street bleeds! Market value of all BSE-listed firms falls below Rs 450 lakh crore for first time since April. More pain ahead?
The market capitalisation of BSE-listed companies fell below Rs 450 lakh crore for the first time since April as Sensex and Nifty extended losses for a fourth straight session. Nearly Rs 25 lakh crore has been wiped out this week, with soaring crude prices and rising bond yields weighing on sentiment.
Friday heavy lifting saves Nifty from record nine weeks of losses. Can bulls take charge now?
Nifty broke its eight-week losing streak, rising nearly 1.3% on Friday to close above 22,500 as IT, FMCG and auto stocks led a relief rally. However, persistent FII selling, elevated US bond yields, crude oil prices and the RBI’s shift to calibrated tightening continue to cloud the market outlook.
Ahead of Market: 10 things that will decide stock market action on Friday
Indian equities suffered a sharp selloff, with Sensex plunging 1,248 points and Nifty falling 1.6% as US Treasury yields hit 19-year highs, crude stayed above $100 and geopolitical concerns intensified. Financial stocks led losses, while market breadth remained heavily negative.
Why did market crash today? Sensex plummets 1,248 points, Nifty ends below 23,100. 5 factors behind today's D-Street bloodbath
Sensex Nifty Crash Today: The Indian stock market took a significant hit as both Sensex and Nifty posted sharp declines. This downturn is largely attributed to rising US Treasury bond yields coupled with growing anticipation of interest rate increases. In conjunction, oil prices surged past $102 per barrel, driven by ongoing geopolitical instability. The Indian rupee also weakened against the US dollar, dampening investor enthusiasm. Experts predict ongoing volatility until economic conditions become clearer.
Ahead of Market: 10 things that will decide stock market action on Wednesday
Indian equities reversed morning gains on Tuesday, with Sensex falling 330 points and Nifty closing lower after sharp volatility during the closing auction session. F&O expiry, foreign outflows, geopolitical uncertainty, IT pressure and elevated crude prices weighed on market sentiment.
CAS chaos: Nifty’s indicative price drops 1% in seconds to fall below 23,150 on F&O expiry day, Sensex closes 330 pts lower
Indian equities ended lower on Tuesday after morning gains faded, with Sensex dropping 330 points and Nifty witnessing a sharp closing-auction swing on expiry day. Broader markets also declined, while IT stocks weakened and realty gained. Market breadth turned negative, with 1,868 NSE stocks declining against 1,679 advancing.
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Sensex closes nearly unchanged, Nifty above 23,250 as Middle East uncertainties cap gains. What lies ahead?
Indian equities closed higher on Friday, though Middle East tensions limited gains in benchmark indices. Sensex rose over 3 points to 77,541 and Nifty gained 20 points to 24,252. Power Grid led major gainers, while Trent and Maruti Suzuki declined. Metal stocks outperformed, whereas FMCG and auto sectors slipped modestly.
ETMarkets Smart Talk: This is a sideways market, time for smart stock picking, says PL Capital’s Vikram Kasat
Despite positive economic data, Indian equities are expected to trade sideways due to valuation concerns and consistent FII selling. Vikram Kasat of PL Capital highlights this as a stock-picker's market, favoring selective opportunities in sectors like metals, autos, and defence, alongside promising new-age listings.
How will new US tariffs affect Indian markets and investor confidence?
Indian markets experienced a significant downturn on Tuesday, with both the Nifty and Sensex falling by over 1% due to the US imposing a 25% tariff. Except for FMCG, all sectoral indices declined, with realty, PSU bank, and consumer durables taking the biggest hit.
ETMarkets Smart Talk: Valuations remain above historical averages; stock-picking key in mid- and small-caps, says Vikram Kasat
Vikram Kasat of PL Capital suggests Indian equities, while off their peak, remain above average, demanding careful stock selection. Sectors like pharmaceuticals and textiles face uncertainty due to increased U.S. tariffs, but Indian companies have shown resilience. Despite external headwinds, alpha generation is possible through active management and focusing on domestic plays with strong earnings.
D-Street turns cautious ahead of US trade deal deadline
Indian benchmark indices closed slightly higher on Friday, snapping a two-week winning streak. The NSE Nifty ended at 25,461, while the BSE Sensex closed at 83,432.89. Market sentiment remained cautious due to regulatory actions against Jane Street and concerns about potential US tariffs ahead of the July 9 deadline.
ETMarkets Smart Talk | India-Pak tensions seen as temporary; focus on earnings, gold allocation up to 20%: Vikram Kasat
Markets typically distinguish between political headlines and actual war risks. Unless there is a full-blown conflict—which is very rare—investors eventually shift their focus back to earnings, economic growth, and liquidity.
Nifty traders, don’t sell in May - just sway. Here’s why the May myth crashes on Dalal Street
The old adage "Sell in May and go away" doesn’t hold true for Dalal Street. Data shows the Nifty delivered positive returns in six of the past 10 Mays, averaging a 1.5% gain. Even Wall Street defies the myth—S&P 500 has ended May in the green 31 times over the past 40 years.
ETMarkets Smart Talk | IPO surge driven by fintech, EV, and tech as bull market boosts liquidity: Vikram Kasat
The market has already factored in a series of rate cuts, so attention is shifting to new concerns, particularly the anticipated economic slowdown that typically follows every economic cycle.
Fertiliser, agrochemical stocks rally as monsoon arrives early
Fertiliser and agrochemical companies like FACT, Nova Agritech, and Rallis India saw a boost in shares as the monsoons arrived early. Analysts expect increased demand for products due to favorable weather conditions, with specific bullish recommendations for Coromandel International and other companies.
Fundamental Radar: Why is Hero MotoCorp well placed to see further re-rating? Vikram Kasat explains
Hero Motocorp's profitability in ICE motorcycles portfolio reaches 16% due to regular price hikes, premiumisation, and favourable model mix. Rural market recovery, aggressive model launches, and core market recovery drive growth. Double-digit industry revenue growth expected in FY25. Financing rate increased to 60-65%. Rs 6 billion investment to double PAM business capacity.
ETMarkets Smart Talk: We may see some surprises in Budget; turn underweight in autos: Vikram Kasat
Vikram Kasat says: "The Interim Budget 2024 is expected to highlight sectors like textile, circular economy, and domestic tourism. Risk-to-reward is favorable for investors entering the market gradually. The auto sector turned underweight after being overweight during the rally, but incremental gains are expected. Structural stories are emerging in real estate, automotive, and domestic travel. SME IPOs are gaining attention due to valuations and high subscription bid."
Fundamental Radar: Why does Divgi TorqTransfer deserve to trade at premium vs peers? Vikram Kasat explains
The company positions itself as an integrated system solutions provider within an OEM landscape - a strategy that minimizes exposure to price wars and enables a more collaborative relationship with both product development and senior management team at customer organizations.
Fundamental Radar: Why Avenue Supermarts can see 16% upside over 12 months? Vikram Kasat explains
Shares of the D’Mart hypermarket operator have given flat returns year-to-date. Despite this, many analysts have held a positive view of the stock and Prabhudas Lilladher is one among them.
Fundamental Radar: Why is Hindalco best placed amongst peers in metals space? Vikram Kasat explains
Brokerage Prabhudas Lilladher remains positive on the stock and believes that Hindalco is best placed in the metals space on the improved operational performance of Novelis, opening up of captive coal mines, and rising focus on high-margin value-added products.
Fundamental Radar: Why Restaurant Brands is a play on India’s discretionary consumption? Vikram Kasat explains
Despite this underperformance, Vikram Kasat of Prabhudas Lilladher belives that the stock provided a good opportunity for investors to play on the rising discretionary consumption in India.
Fundamental Radar: Why Sunteck Realty is the best play in Mumbai high-value realty market? Vikram Kasat explains
Brokerage Prabhudas Lilladher believes that Sunteck Realty is an interesting play on Mumbai’s high-value real estate market, given its proven ability to market ultra-luxury projects and aggressive land acquisition capabilities in various micro markets across Mumbai Metropolitan Region (MMR).
Fundamental Radar | 3 factors seen driving Jindal Steel’s earnings over FY23-25: Prabhudas Lilladher
Jindal Steel's ongoing Rs 240 billion capacity expansion at Angul is expected to drive steel volumes at a strong 16% CAGR over the next three years, according to Vikram Kasat, head - advisory at Prabhudas Lilladher.
Fundamental Radar: 4 factors that will drive value creation for Greenpanel Industries, Vikram Kasat explains
Greenpanel Industries is one such company as the wood products maker saw a decline in revenue as well as a significant deterioration in profitability in FY23.
ETMarkets Smart Talk- Plan to invest Rs 10 lakh? Here are 7 stocks for long term wealth creation: Vikram Kasat
1Q24 was the first normal quarter after 1Q20, devoid of any covid wave during the quarter or base quarter. The demand scenario is mixed, with some green shoots in 2-wheelers and FMCG in rural India.
ETMarkets Smart Talk: Why Vikram Kasat of Prabhudas Lilladher increased allocation to banks & cut overweight on IT
Earlier when FIIs were net sellers, they had their reasons for high Indian market valuations but now, that concern has been solved given the flat performance by the market and similarly FII buying is back given the valuation comfort coupled with better economics and fundamentals of Indian markets.
Year-end special | ETMarkets Poll: 2 out of 3 analysts see Nifty hitting 20K milestone in 2023
While volatility is likely to play out in 2023 as well because developed economies like the US and Europe are on the brink of a recession and the fight against inflation is far from over, for experts, India is a buy on dips market.
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