Stocks opened gap-up after a sharp rally on the Wall Street overnight, and managed to hold on to most gains despite banking stocks, the index heavyweights, underperforming
Bourses cap April with 14.7% gains, best since '09
The Sensex ended 536 points or 1.7% lower at 31,327, while the Nifty dropped 1.7% or 160 points to close at 9,154 on Friday
Pharma firms can build brands and enjoy higher margins here
The Sensex surged 483.53 points or 1.54% to close at 31,863.08, a six-week high. The Nifty advanced 126.60 points, or 1.38%, to settle at 9,313.90
Facebook announced an investment of $5.7 billion (Rs 43,574 crore) to buy a 10 per cent stake in Jio Platforms
Economic uncertainty will keep stock prices volatile
Experts say taking large cash calls can also put equity schemes at risk of underperformance, if markets bounce back instead of seeing further deep corrections
Longer-term investors with a three-five-year horizon have an opportunity to pick quality stocks, which in calmer times tend to trade at exorbitant valuations
Equity gained the highest net inflow of $5.34 billion, while bond and money market funds posted net inflow of $2.55 billion and $4.11 billion, respectively
The Sensex declined 1 per cent to end at 30,379.81 after rising as much as 2.9%, while the Nifty dropped 0.8% to close at 8,925, after rising to 9,261
According to the data sourced from PMS AIF World, several PMS offerings in the multi-cap space have fallen more than their respective benchmarks
The issue surfaced after the shareholding pattern disclosed by HDFC showed the People's Bank of China had hiked its stake in the mortgage lender during the March quarter
Last week, the indices had rallied 13 per cent and were on the cusp of a bull market - a term used for a 20% rise from recent lows
Last month, Index funds received inflows to the tune of Rs 2,076 crore, as against Rs 511 crore the previous month
It feels as though this is going to go on for a fair old time, he said
Domestic stimulus hopes, oil talks lift sentiment
The weak opening of the European markets and a sharp deprecation in the rupee against the dollar weighed on stock prices
Barring three stocks - Eicher Motors, Shree Cement and Bajaj Finance - all the Nifty components have gained during this two-week period
But they must look for a cushion of safety when taking long-term positions