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☆ Goldman strategist says one country offers the 'most fertile ground for picking stocks' and shares his favorites
▼ + stars: | 2023-07-03 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

That's despite Indian stocks already soaring, with the country's benchmark indexes BSE Sensex and Nifty 50 soaring to new record highs on Friday, according to Refinitiv data. He said that Indian stocks have a 16% compound annual return over the last 20 years in local currency terms, and 13% in dollar terms. It also has a high proportion of what Goldman analysts dub "multibagger" stocks, according to Koul. Goldman Sach screened 25 large-cap Indian stocks for those with an attractive growth and valuation profile. Four banks meet its criteria: HDFC Bank , ICICI Bank , State Bank of India and Kotak Mahindra Bank.

Persons: Goldman Sachs, Sunil Koul, CNBC's, Koul, That's, Goldman, Banks, Goldman Sach, Larsen, Toubro, — CNBC's Michael Bloom Organizations: Asia Pacific, CNBC, HDFC Bank, ICICI Bank, State Bank of India, Kotak Mahindra Bank, U.S . Global, SBI, UltraTech, Growers Locations: India, U.S

☆ Indian shares hit record highs on positive global cues
▼ + stars: | 2023-07-03 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, July 3 (Reuters) - Indian shares opened higher on Monday, with the benchmarks surging to fresh record highs for the third consecutive session, as sentiment improved on signs of moderating inflation in the United States. The Nifty (.NSEI) index rose as much as 0.43% to a new all-time high of 19,271.45. The S&P BSE Sensex (.BSESN) also rose 0.41% to 64,9580.83, as of 9:17 a.m. IST. The Nifty Auto index (.NIFTYAUTO) rose 0.33% to a record high while high weightage bank index (.NSEBANK) also hit a new all-time high. ($1 = 82.0355 Indian Rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Varun Organizations: BSE, Thomson Locations: BENGALURU, United States, Bengaluru

☆ IT, auto stocks help Indian shares hit new highs
▼ + stars: | 2023-06-30 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, June 30 (Reuters) - Information technology (IT) and auto stocks helped India's benchmark indexes hit fresh record highs on Friday, after robust economic data from the United States eased fears of a slowdown and improved broader sentiment. Reuters GraphicsThe Nifty 50 (.NSEI) rose as much as 1.21% to hit an all-time high of 19,201.70, before closing at 19,189.05. The S&P BSE Sensex (.BSESN) also gained 1.26% to settle at a fresh record of 64,718.56. The Nifty 50 (.NSEI) has risen over 10.5% in the three months ended June 30, its best performance since the September quarter of 2021. Midcaps (.NIFMDCP100) also hit a fresh record while smallcaps (.NIFSMCP100) hovered around their 52-week high.

Persons: Deepak Jasani, MotoCorp, Maruti Suzuki, Bharath Rajeswaran, Dhanya Ann Thoppil Organizations: Reuters, BSE, HDFC Securities, Auto, Mahindra, Maruti, Infosys, Thomson Locations: BENGALURU, United States, Bengaluru

☆ India’s stock market is hitting record highs. Here’s why
▼ + stars: | 2023-06-28 | by ( Anna Cooban | ) edition.cnn.com time to read: +6 min

London CNN —India’s stock market is booming as investors take a chance on one of the few bright spots in a fragile global economy. The country’s stocks are so hot that India is now home to the world’s fourth most valuable equity market, behind only the United States, China and Japan. The total value of Indian equities has hit $3.5 trillion, greater than the value of Europe’s two biggest stock markets, in the UK and France, according to data from Refinitiv. Bright prospectsThe surge in Indian equities is a reflection of the strength and potential of the country’s economy, according to economists and fund managers. “The Indian equity market is the classic example of ‘expensive for a reason’,” he said.

Persons: ” Sher Mehta, ” Mehta, Sohini Kar, India Ashish Vaishnav, Pieter Elbers, Narendra Modi, Joe Biden, Apple, Lorenzo La, ”, Posta, La Posta, Gautam Adani Organizations: London CNN, United Kingdom’s FTSE, CAC, Virtuoso Economics, CNN, Monetary Fund, India, London School of Economics, Airbus, ”, Apple, Momentum Global Investment Management Locations: India, United States, China, Japan, Russia, Europe, France, Refinitiv, Mumbai, Washington, Germany

☆ Indian shares set for muted start to week after Russia turmoil
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, June 26 (Reuters) - Indian shares were set for a muted open on Monday, on the heels of their first weekly loss in over a month, as crude prices rose on supply concerns after a short-lived mutiny by mercenaries in Russia. Foreign institutional investors sold a net 3.45 billion rupees ($42.1 million) worth of Indian equities on Friday, while domestic investors sold 6.84 billion rupees of shares, as per provisional NSE data. STOCKS TO WATCH:** ICICI Bank (ICBK.NS), ICICI Securities (ICCI.NS): Boards of the companies to consider delisting of ICICI Securities shares on June 29. ** HDFC Life Insurance Company: India's insurance regulator granted approval for transfer of its shares from HDFC Ltd (HDFC.NS) to HDFC Bank (HDBK.NS). ** Shree Cement (SHCM.NS): NDTV reported that tax evasion to the tune of 230 billion rupees ($2.80 billion) has been found in tax searches at multiple locations of Shree Cement in Rajasthan.

Persons: Wagner, Brent, Chris Thomas, Biplob Kumar Das, Eileen Soreng Organizations: Singapore Exchange, BSE, ICICI Bank, ICICI Securities, Life Insurance, HDFC Ltd, HDFC Bank, Ipca, U.S, FDA, of Maharashtra, Axis Bank, Kashmir Bank, NDTV, Shree, Thomson Locations: BENGALURU, Russia, Russian, Moscow, Asia, India, Pithampur, Jammu, Kashmir, Shree Cement, Rajasthan, Bengaluru

☆ Indian shares open lower ahead of Powell testimony
▼ + stars: | 2023-06-20 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: 1 min

BENGALURU, June 20 (Reuters) - India's Nifty 50 and Sensex stock indexes opened lower on Tuesday, tracking Asian peers, as caution prevailed across global equities a day ahead of U.S. Federal Reserve Chair Jerome Powell's congressional testimony. The blue-chip Nifty (.NSEI) index fell 0.10% to 18,739.10 as of 9:16 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) lost 0.07% to 63,123.17. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Varun H KOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome, Bharath Rajeswaran, Sonia Cheema Organizations: U.S . Federal, BSE, Thomson Locations: BENGALURU, U.S, Bengaluru

☆ India's Nifty 50, Sensex open higher ahead of Powell's speech
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 19 (Reuters) - India's Nifty 50 and Sensex stock indexes extended gains from last week on Monday ahead of China's interest rate decision and U.S. Federal Reserve Chair Jerome Powell's speech on the central bank's rate trajectory. The blue-chip Nifty 50 (.NSEI) index was up 0.15% at 18,853.40 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) rose 0.12% to 63,460.50. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Varun H K and Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Jerome Powell's, Bharath Rajeswaran, Varun Organizations: . Federal, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares open higher ahead of RBI rate decision
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 7 (Reuters) - Indian shares opened higher on Wednesday, tracking global peers, ahead of the Reserve Bank of India's monetary policy decision and on hopes of an interest rate pause by other major central banks. The blue-chip Nifty 50 (.NSEI) index was up 0.36% at 18,665.60 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) rose 0.20% to 62,917.39. ($1 = 82.5316 Indian Rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Sonia Cheema Organizations: Reserve Bank, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares open flat on rising odds of Fed, RBI rate pause
▼ + stars: | 2023-06-06 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, June 6 (Reuters) - Indian shares were little changed at the open on Tuesday, after logging gains in the previous two sessions, amid rising hopes of a rate hike pause by the U.S. Federal Reserve at its policy meeting next week. The blue-chip Nifty 50 (.NSEI) index was up 0.04% at 18,600.80 as of 9:15 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) fell 0.08% to 62,738.35. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

Persons: Bharath Rajeswaran, Janane Organizations: U.S . Federal, BSE, Thomson Locations: BENGALURU, Bengaluru

☆ Indian shares open flat as US debt deal spurs optimism
▼ + stars: | 2023-05-30 | by ( ) www.reuters.com time to read: 1 min

BENGALURU, May 30 (Reuters) - Indian shares opened little changed on Tuesday after rising to a five-month high on Monday amid improved global cues after U.S. lawmakers reached a tentative debt ceiling deal over the weekend. The blue-chip Nifty 50 (.NSEI) index was up 0.06% at 18,609.35 as of 9:18 a.m. IST, while the benchmark S&P BSE Sensex (.BSESN) gained 0.02% to 62,861.10. Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia Cheema and Sohini GoswamiOur Standards: The Thomson Reuters Trust Principles.

☆ Financials bounce back from Friday's slide to lift Indian shares
▼ + stars: | 2023-05-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 (.NSEI) was up 0.81% at 18,215.75 as of 10:04 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.87%. Nifty Bank (.NSEBANK) and Nifty Private Bank (.NIFPVTBANK) also gained over 1%. On Monday, IndusInd Bank Ltd (INBK.NS) rose nearly 5% and was the top Nifty 50 gainer. Analysts expect the Nifty 50 to witness consolidation in the near-term with resistance seen near 18,200 levels. read more($1 = 81.7330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares rise ahead of Fed rate decision
▼ + stars: | 2023-05-02 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, May 2 (Reuters) - Indian shares advanced on Tuesday, aided by broad-based gains across sectors, driven by March-quarter earnings, as investors await the interest rate decision by the U.S. Federal Reserve on Wednesday. The Nifty 50 (.NSEI) was up 0.49% to 18,153.10 as of 9:51 a.m. IST, while the S&P BSE Sensex (.BSESN) gained 0.45%. Twelve of the 13 major sectoral indexes advanced, with the high-weightage financials (.NIFTYFIN) and information technology stocks (.NIFTYIT) rising 0.5% and 1%, respectively. The benchmark Nifty 50 index (.NSEI) rose over 4% in April, its best month since November 2022. Among individual stocks, Mahindra & Mahindra Financial Services Ltd (MMFS.NS) surged 5% after reporting a year-on-year rise in consolidated profit in the March quarter.

☆ Infosys drags down Indian shares
▼ + stars: | 2023-04-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, April 17 (Reuters) - Indian shares sank more than 1% on Monday after Infosys tumbled 15% and sparked a selloff in IT stocks following the country's No. 2 IT services exporter's weak results and forecast. The slide comes after the two indexes logged a winning steak for the past nine sessions in a row. The IT index (.NIFTYIT) sank 6.5% and was on track for its biggest one-day loss since March 2020. The Nifty midcap 100 index (.NIFMDCP100) and Nifty smallcap 100 (.NIFSMCP100) were both off about 0.2%.

☆ Auto, realty stocks power Indian shares ahead of March quarter earnings
▼ + stars: | 2023-04-10 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, April 10 (Reuters) - Indian shares advanced on Monday, aided by auto and realty stocks following strong quarterly business updates, but rising odds of a U.S. Federal Reserve rate hike in May capped gains. The Nifty 50 (.NSEI) rose 0.28% at 17,647.70, as of 9:51 a.m. IST, while the S&P BSE Sensex (.BSESN) rose 0.24% to 59,975.11. Ten of the 13 major sectoral indexes advanced, with auto stocks (.NIFTYAUTO) rising over 1%. Wall Street equities rose on Thursday in a truncated week, ahead of U.S. jobs data, which was released on Friday. The market is pricing in 68.3% chance of a 25 basis point rate hike in May, up from 49.2% on Thursday, according to CME's FedWatch Tool.

☆ Indian shares set to open lower ahead of RBI policy decision
▼ + stars: | 2023-04-06 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, April 6 (Reuters) - Indian shares are poised to open lower on Thursday, ahead of what many expect to be the Reserve Bank of India's final interest rate hike in the current cycle. India's NSE stock futures listed on the Singapore exchange were down 0.12% at 17,603 as of 7:59 a.m. IST. The MSCI's gauge of the broader index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was down 0.42%. ** Equitas Small Finance Bank Ltd (EQUI.NS): Co posts 36% YoY growth in gross advances at 280.61 billion rupees in the quarter-ended March. ** Avenue Supermarts Ltd (AVEU.NS): Co posts standalone revenue from operations at 103.37 billion rupees for the quarter-ended March, up 20% YoY; total stores at 324.

☆ Indian shares open higher as SVB acquisition hopes aid sentiment
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, March 27 (Reuters) - Indian shares opened higher on Monday after reports of advanced talks for the acquisition of collapsed Silicon Valley Bank brought relief to markets, although fears of contagion in the global banking system lingered. Eight of the 13 major sectoral indexes advanced, with the heavyweight financials index (.NIFTYFIN) adding 0.3%. While reports of a potential acquisition of Silicon Valley Bank by First Citizens BancShares Inc calmed nerves, concerns over credit crunch persisted, putting authorities on high alert over the fallout from recent banking turmoil. Among individual Indian stocks, shares of Phoenix Mills (PHOE.NS) jumped nearly 6% after global brokerage firm Morgan Stanley initiated coverage on the stock with an "overweight" recommendation. ($1 = 82.1970 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares rise on easing global banking concerns
▼ + stars: | 2023-03-17 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 17 (Reuters) - Indian shares advanced on Friday, aided by financials, tracking a rebound in global equities after a slew of measures to support the global banking system eased worries about a crisis in the financial sector. While the developments eased immediate concerns of a crisis in the global banking system, some analysts remained cautious. "The Fed needs to manage a delicate balancing act between price stability (inflation) and financial stability (growth) in next week's meeting." Information technology stocks (.NIFTYIT) rose over 1% with all 10 constituents logging gains. ($1 = 82.5870 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Dhanya Ann Thoppil and Janane VenkatramanOur Standards: The Thomson Reuters Trust Principles.

☆ Indian open lower on rate fears after Powell's testimony
▼ + stars: | 2023-03-08 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 index (.NSEI) fell 0.49% to 17,625.95, while the S&P BSE Sensex (.BSESN) lost 0.48% to 59,931.07 as of 9:31 a.m. IST. The slide comes after Powell's testimony before the U.S. Congress on Tuesday, in which he said strong economic data in the United States raised the possibility of prolonged and higher-than-expected interest rate hikes. Global markets fell after Powell's testimony, with the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) losing 1.82%. Thirty-seven of the Nifty 50 constituents logged losses with Hindalco (HALC.NS) and IT stocks falling the most. The group's flagship firm Adani Enterprises (ADEL.NS) rose over 1% and was the top Nifty 50 gainer.

☆ Indian shares set to open higher on improved risk sentiment
▼ + stars: | 2023-03-06 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, March 6 (Reuters) - Indian shares are set to open higher on Monday after strong economic data from the United States and investment in the Adani group of companies boosted risk appetite. Indian shares logged weekly gains on Friday after U.S. boutique investment firm GQG Partners' $1.87 billion investments in Adani group stocks spurred a broad-based rally and improved risk sentiment. ** Info Edge (INED.NS): Co's unit to invest 52 mln rupees in Sploot, a platform for pet parenting. ** Kansai Nerolac (KANE.NS): Co approves acquisition of 40% of total shareholding of Nerofix from Polygel for 370 mln rupees. ($1 = 81.6800 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares struggle for direction ahead of GDP data
▼ + stars: | 2023-02-28 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

BENGALURU, Feb 28 (Reuters) - Indian shares swung between gains and losses on Tuesday, as gains in auto and media stocks were mostly offset by a slide in metals, ahead of the domestic GDP data for the December quarter. Eight of the 13 sectoral indexes advanced with auto stocks (.NIFTYAUTO) adding nearly 1% ahead of the monthly sales numbers, due on Wednesday. Foreign portfolio investors have so far offloaded 325.18 billion rupees ($3.93 billion) worth of Indian equities in 2023, according to official data. Investors now await domestic GDP data for the December quarter, due later in the day, which is expected to show year-on-year growth slowing to 4.6%. ($1 = 82.7150 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman and Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares fall on rate-hike worries ahead of Fed, RBI minutes
▼ + stars: | 2023-02-22 | by ( Bharath Rajeswaran | ) www.reuters.com time to read: +2 min

The Nifty 50 index (.NSEI) was down 0.86% at 17,674.50, while the S&P BSE Sensex (.BSESN) fell 0.85% at 60,150.93 as of 10:34 a.m. IST. Both the Fed and the Reserve Bank of India were due to release minutes of their latest policy meetings, giving investors a glimpse of their thinking on future rate-hike trajectories. "Fear of a hawkish Fed has gripped markets and kept investors on tenterhooks." Global markets fell after an unexpectedly strong reading of S&P Global's composite purchasing managers' index (PMI) showed that the U.S. economy was not cooling. ($1 = 82.8330 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares fall ahead of inflation data; Adani stocks slide
▼ + stars: | 2023-02-13 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 13 (Reuters) - Indian shares were off to a muted start on Monday, ahead of domestic retail inflation data due later in the day and U.S. inflation data due tomorrow, while the ongoing uncertainty and spillover effects from the Adani Group's market rout continued to create an overhang. Investors await India's retail inflation data for January, due today. A Reuters poll of economists showed that India's annual retail inflation rose from a 12-month low in December, but stayed within the 6% upper limit of RBI's tolerance band in January. India's market regulator is probing the group's links to some of the investors in its scrapped $2.5 billion share sale of the flagship Adani Enterprises. ($1 = 82.5250 Indian rupees)Reporting by Bharath Rajeswaran in Bengaluru; Editing by Janane Venkatraman, Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

☆ Indian shares fall on rising U.S. recession fears; MSCI's Adani take
▼ + stars: | 2023-02-10 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 10 (Reuters) - Indian shares fell on Friday, tracking a slide in global equities on fears of a looming U.S. recession, and as sentiment soured after index provider MSCI said it will cut the weightings of four Adani Group companies. Asian markets fell, with the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) sliding 1.23%. However, Indian equities have a limited downside due to significant correction and markets will likely witness sideways movement in the next few weeks in the absence of any major triggers, two analysts said. Most Adani group stocks extended their decline in Friday's session. If the MSCI cuts weightings on Adani group companies, it would have a bearing on the flows into the respective stocks," Solanki added.

☆ Indian shares muted on Fed rate-hike concerns; Adani stocks tumble
▼ + stars: | 2023-02-09 | by ( ) www.reuters.com time to read: +2 min

BENGALURU, Feb 9 (Reuters) - Indian shares struggled for direction on Thursday, on concerns over the U.S. Federal Reserve's rate-hike trajectory, while a drop in Adani Group company stocks also dampened sentiment. Twenty-six of the Nifty 50 constituents declined, with Adani Enterprises (ADEL.NS) and Adani Ports (APSE.NS) falling 7.9% and 3.5%, respectively. Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float. read moreSeveral institutional investors and funds allocate as per the MSCI index and consider it a benchmark. If the weightage of Adani stocks gets reduced in the index following a review, it would lead to outflows and likely result in a slide in the group's stock, two analysts said.

☆ Indian shares rise ahead of RBI policy decision
▼ + stars: | 2023-02-08 | by ( ) www.reuters.com time to read: +1 min

Market participants will focus on the RBI's commentary on the future trajectory of rate hikes, liquidity, the country's economic outlook and whether the central bank changes its stance from "withdrawal of accommodation" to "neutral." The RBI had raised key lending rate by 35 basis points in December, after three straight 50 bps hikes, and had said its fight against inflation was not over yet. Fed's Powell said on Tuesday disinflation has started and that he expects significant declines in inflation this year, raising hopes of less aggressive rate hikes in the future. Wall Street closed higher overnight, while MSCI's gauge of the broader index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was up 0.75%. Reporting by Rama Venkat in Bengaluru; Editing by Dhanya Ann Thoppil and Eileen SorengOur Standards: The Thomson Reuters Trust Principles.

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