Sensex, Nifty end at fresh record closing high; Midcap underperforms


Benchmark indices ended at fresh record closing high today, backed by ICICI Bank, Reliance Industries and HDFC.

The 30-share BSE Sensex was up 88.90 points at 34,592.39 and the 50-share NSE Nifty gained 30.10 points at 10,681.30, but Midcap index underperformed.

Investors, however, remained wary as four senior sitting judges of the complaint that Supreme Court as administration of the country’s top court was not in order.

KEI Industries shares rallied 10 percent as Motilal Oswal has initiated coverage with Buy rating on the stock and target price at Rs 537, implying potential upside of 44 percent as the company is expected to be major beneficiary of key government initiatives.

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Sensex ends Friday nearly 450 pts lower, Nifty breaches 10,000; midcaps tank


Equity benchmark indices witnessed a carnage on Friday, with the Sensex ending nearly 450 points lower, while the Nifty breached 10,000-mark, falling over 150 points.

The benchmark indices fell over 1%, extending losses for the fourth straight session, while the rupee hit its weakest point since early April amid concerns that the government’s plan for a stimulus to halt an economic slowdown may have a negative impact on the fiscal deficit.

Global investor sentiment was also subdued after North Korea said it might test a hydrogen bomb in the Pacific Ocean and escalated a war of words with US President Donald Trump.

The Sensex closed down 447.60 points at 31922.44, while the Nifty ended lower by 157.50 points at 9964.40. The market breadth was negative as 524 shares advanced against a decline of 2,082 shares, while 144 shares were unchanged.

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Reblog: Seeking stocks that beat market returns? Apply these 2 filters


This is an interview with Saurabh Mukherjea, author of the book ‘The Unusual Billionaires’. The original post appears here on moneycontrol.com.

Saurabh feels the buy-and-hold approach to investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

Consistent revenue growth combined with a consistent return on capital employed: if a company has been delivering on these two parameters for over ten years, then look no further. That, in effect, is the theme of Saurabh Mukherjea’s second book ‘The Unusual Billionaires’. The book says that a portfolio of companies which satisfies both these criteria will invariably beat the market over the next decade and more.

Mukherjea, whose day job is CEO, Institutional Equities at Ambit Capital, feels the buy-and-hold strategy for stock investing holds true even as volatile financial markets and disruptive changes across sectors are questioning its validity.

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