Latest news with #SavioShetty
Mint
6 days ago
- Business
- Mint
Investor Optimism Wanes as Few Nifty Companies Surpass Earnings Estimates
(Bloomberg) -- Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi, an equities reporter in Mumbai. Indian equities look set for a firm open this morning, with Nifty futures and most Asian markets in the green. But the real action will be in the quarterly earnings, with big names like Infosys, Tata Consumer, and Dr Reddy's reporting their numbers. So far,the earnings season has been a bit underwhelming, which is keeping equity bulls cautious. Earnings season echo weak market momentum Investor hopes for an earnings revival — one that could justify lofty stock equity valuations — are starting to look shaky. So far, only half of the 12 Nifty companies with first-quarter profit estimates have managed to beat analyst forecasts, according to data compiled by Bloomberg. That's much lower from the prior quarter, when more 58% had surpassed expectations at the same point in results season. Jane Street factor fires up capital market stocks Yet, amid the weak earnings, not all corners of the market are struggling. Capital market stocks remain buoyant, as traders track the the return of global trading giant Jane Street to Indian bourses. Angel One, for instance, witnessed its highest bullish options activity in over a month, while shares of BSE and Nuvama Wealth rose Tuesday on hopes of increased trading volumes. The upcoming weekly derivatives expiry on Thursday will offer a clearer read on whether Jane Street's re-entry is really adding depth to the market. Top jeweler's overseas pivot may add luster Meanwhile, in the consumer space, Titan is looking overseas to counter a softer outlook at home. The Tata Group company is set to buy a majority stake in Middle Eastern jeweler Damas, giving it access to 146 premium locations in the UAE. Analysts at JM Financial expect the move to enhance Titan's standing in Gulf countries at a time when discretionary spending and consumer confidence in India is flagging. Even so, investors appear to be staying the course: Titan has outpaced the Nifty consumption index by three percentage points this year. Three great reads from Bloomberg today: Foreign appetite for local shares is showing signs of fatigue. After pumping in over $5 billion between March and June, global funds have turned cautious, pulling out $650 million so far this month through July 18. If the trend holds, July could mark the first month of net outflows since February. With earnings lacking excitement and stock valuations still looking rich, prospects for speedy rebound in the Nifty are fading, with the index more than 5% below its peak. To read India Markets Buzz every day, follow Bloomberg India on WhatsApp. Sign up here. --With assistance from Savio Shetty and Chiranjivi Chakraborty. More stories like this are available on
Bloomberg
02-06-2025
- Business
- Bloomberg
India's Growth Surprise to Favor Infrastructure and Consumer Stocks
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. India's stronger-than-expected GDP print is likely to boost market sentiment, confirming that the economic slowdown has been arrested. Nifty futures point to a mildly positive opening, despite weakness across Asia, as tariff-related concerns persist. All eyes will be on the central bank's monetary policy on Friday and high-frequency economic indicators like PMI.
Bloomberg
30-05-2025
- Business
- Bloomberg
Sharp Decline in Volatility Index Catches Seasoned Traders Off Guard
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. Nifty futures point to a flat start, and may follow Asian markets lower as uncertainties around President Trump's tariffs whipsawed the markets. Still, Indian stocks are poised for a third straight month of gains, helped by foreign inflows and improvement in earnings. The focus will be on Ola Electric after the firm's fourth quarter net loss doubled from a year ago.
&w=3840&q=100)
Business Standard
26-05-2025
- Business
- Business Standard
National Stock Exchange offers $118 mn to settle Sebi case, revive IPO
The NSE in October paid Rs 6,400 crore to the regulator to settle a case involving alleged unfair access to its trading platform Bloomberg By Savio Shetty, Ruchi Bhatia and Chiranjivi Chakraborty The National Stock Exchange of India Ltd. is said to be offering a record amount of about Rs 1,000 crore ($118 million) to settle a longstanding dispute with the country's market regulator, according to a person involved in the discussions, likely paving the way for its public listing. The Securities and Exchange Board of India will discuss the offer, and a decision is expected soon, people familiar with the matter said, asking not to be identified as the discussions are private. The regulator is inclined to settle the legal issue, they said, which would enable the world's largest derivative exchange by contracts to secure a no-objection certificate. Sebi had previously halted NSE's listing plans due to several ongoing cases dating back to 2015, involving allegations that some high-speed traders gained unfair access to its co-location servers. The regulator's investigation not only derailed the exchange's IPO ambitions in 2016, but also later resulted in the NSE being banned from accessing capital markets for six months. The NSE in October paid Rs 6,400 crore to the regulator to settle a case involving alleged unfair access to its trading platform. Signs of a potential settlement emerged after Sebi's newly appointed Chairman Tuhin Kanta Pandey said last week that the regulator is working closely with the NSE to resolve issues hindering its IPO. Following the exchange's annual earnings earlier this month, Chief Executive Officer Ashish Kumar Chauhan told analysts and investors that the regulator had identified four areas requiring resolution, including pending legal cases. Meanwhile, investor interest in NSE remains robust. The exchange, backed by investors like Life Insurance Corp. of India and Canada Pension Plan Investment Board, has seen its private market valuation jump from $36 billion in September to $50 billion, according to a marketing material posted on Linkedin last week by US-based investment firm Drew Investments.
Bloomberg
02-05-2025
- Business
- Bloomberg
Indian Rupee Strengthens as Foreign Flows and Trade Talks Brighten Outlook
Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Savio Shetty, an equities reporter in Mumbai. Asian stocks are slightly higher after China hinted at potential US trade talks, boosting sentiment. Indian equities will likely consolidate the gains of the last two weeks as foreign funds remain net buyers and the rupee strengthens. Key quarterly earnings scheduled for today include Marico, Godrej Properties and Indian Overseas Bank.
