The domestic benchmark indices have been trading weak today. This comes a day of weekly F&O expiry. Besides this, the Sensex was also hovering below 60,000 while NSE Nifty 50 gave up 17,750.
Bank Nifty also was in the positive while the broader markets mirrored the up-move.
India VIX remained down 4 per cent. ITC was the top Sensex gainer, followed by SBI, Power Grid, and Titan.
When it comes to draggers, Mahindra & Mahindra, Maruti Suzuki India, and Dr Reddy’s remained low.
It is worth mentioning here that India’s dominant services industry saw expansion at the fastest pace in more than a decade. This comes on improved domestic demand lest high inflation which somewhere prompts the firms to take on staff at an unprecedented rate.
At the same time, the input prices rose sharply in October on account of higher fuel and material costs.
Escorts is a stock where Rakesh Jhunjhunwala holds a 4.75 per cent stake. In the September quarter, this has come out with a muted set of numbers.
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Rakesh Jhunjhunwala in the September quarter added banks, metal and real estate companies to his cart. He also raised his stake in Titan Company by 0.1 per cent.
However, the growth outlook for the tractor sector was muted in the second half of FY owing to a high base.
There is a reason why the Rakesh Jhunjhunwala portfolio is much sought-after by retail investors and institutional investors as well.
People trust Big Bull for market predictions since his bets on the Indian stock market have fetched him quite impressive returns.
Samvat 2077 became a historic year for equities. This comes despite the Covid-19 pandemic.
Nifty50 also clocked its best-ever returns in 12 years.
Foreign portfolio investors (FPI) also had their faith in the Indian equities. This is the reason why they pumped in 18.73 billion dollars during the same period. This is what makes it the second-highest after 22 billion dollars seen in Samvat 2069.
Moreover, the gross revenue collections of Goods and Services Tax (GST) in October rose 23.7 per cent year-on-year to Rs 1,30,127 crore.
This is the second-highest revenue collection under GST since 2017. Owing to the pickup in economic activity in post-covid recovery, the GST collections have risen higher.