Index Financial News

Federal Bank Ltd.(up 2.21 per cent), IndusInd Bank Ltd.(up 0.97 per cent), Axis Bank Ltd.(up 0.91 per cent), Bandhan Bank Ltd.(up 0.84 per cent) and Punjab National Bank(up 0.65 per cent) were among the top gainers. IDFC First Bank Ltd.(down 0.54 per cent), Kotak Mahindra Bank Ltd.(down 0.4 per cent) and HDFC Bank Ltd.(down 0.33 per cent) were the top losers on the index.

Shares of Dr. Reddy's Laboratories Ltd.(up 1.62 per cent), Cipla Ltd.(up 1.46 per cent), Divi's Laboratories Ltd.(up 0.99 per cent), Torrent Pharmaceuticals Ltd.(up 0.92 per cent) and Sanofi India Ltd.(up 0.79 per cent) ended the day as top gainers in the pack.

Prestige Estates Projects jumped nearly 19% intraday to hit a fresh 52-week high of Rs 796.40 on the NSE, in turn helping the Nifty Realty index scale its 15-year high level of 612.25. The price action was accompanied with strong volume as more than 69.32 lakh shares changed hands on the NSE around 12:50 pm, with the total traded value of the stock standing at Rs 520.11 crore. The gains were on the back of the real estate company registering the highest sales of Rs 11,007.3 crore in H1 FY24, up 69% year-on-year (YoY), while the quarterly sales jumped 102% YoY to Rs 7,092.6 crore during Q2FY24. The sales during this period is attributed to 6.84 mn square feet volume with an average realisation of Rs 10,369 per square feet, which rose 29% YoY for apartments/villas and average realisation of Rs 6,753 per square feet for plot, up 62% YoY. The group sold 3,659 units during Q2 FY24.

Persistent Systems Ltd.(up 2.37 per cent), LTIMindtree Ltd.(up 1.58 per cent), Infosys Ltd.(up 1.36 per cent), Coforge Ltd.(up 1.25 per cent) and L&T Technology Services Ltd.(up 0.87 per cent) were among the top gainers. Tata Consultancy Services Ltd.(down 0.25 per cent) were the top losers on the index.

Sanofi India Ltd.(up 2.08 per cent), Granules India Ltd.(up 1.46 per cent), Gland Pharma Ltd.(up 1.39 per cent), Alkem Laboratories Ltd.(up 0.8 per cent) and Lupin Ltd.(up 0.7 per cent) were among the top gainers. Biocon Ltd.(down 1.42 per cent), Aurobindo Pharma Ltd.(down 1.17 per cent), Dr.

Shares of TVS Motor Company Ltd.(up 1.41 per cent) ended the day as top gainers in the pack. On the other hand, Hero MotoCorp Ltd.(down 2.72 per cent), Sona BLW Precision Forgings Ltd.(down 2.46 per cent), Samvardhana Motherson International Ltd.(down 2.37 per cent), Mahindra & Mahindra Ltd.(down 2.17 per cent) and Tube Investments of India Ltd.(down 1.44 per cent) finished as the top losers of the day.

India Included In JP Morgan's Bond Index| Impact O...

Shares of Bharat Forge Ltd.(up 2.06 per cent), Bosch Ltd.(up 1.97 per cent), Maruti Suzuki India Ltd.(up 0.9 per cent), MRF Ltd.(up 0.73 per cent) and Mahindra & Mahindra Ltd.(up 0.7 per cent) ended the day as top gainers in the pack. On the other hand, Tube Investments of India Ltd.(down 1.03 per cent), Balkrishna Industries Ltd.(down 0.89 per cent), Sona BLW Precision Forgings Ltd.(down 0.6 per cent), Ashok Leyland Ltd.(down 0.2 per cent) and Samvardhana Motherson International Ltd.(down 0.1 per cent) finished as the top losers of the day.

Shares of Aurobindo Pharma Ltd.(up 2.69 per cent), Torrent Pharmaceuticals Ltd.(up 2.34 per cent), Granules India Ltd.(up 2.18 per cent), Alkem Laboratories Ltd.(up 1.87 per cent) and Laurus Labs Ltd.(up 0.96 per cent) ended the day as top gainers in the pack. On the other hand, Natco Pharma Ltd.(down 0.69 per cent) and Zydus Lifesciences Ltd.(down 0.21 per cent) finished as the top losers of the day.

Let us look at the data. There were around 52 passively-managed schemes in the large cap category. However, only four passively-managed large cap schemes managed to outperform their respective benchmarks in 2023. Most schemes — 48 schemes – underperformed their benchmarks. In comparison, there were 30 schemes in the actively-managed large cap mutual fund category. Around 24 actively-managed large cap schemes managed to outperform their respective benchmarks in 2023. Only six schemes underperformed their benchmarks. If you want to see the performance of active large cap funds, see story: Large cap funds offer 11.45% average return in 2023; Axis Bluechip Fund give 6.87%

Laurus Labs Ltd.(up 1.48 per cent), Aurobindo Pharma Ltd.(up 1.43 per cent), Alkem Laboratories Ltd.(up 1.24 per cent), Granules India Ltd.(up 1.24 per cent) and Sun Pharmaceutical Industries Ltd.(up 0.96 per cent) were among the top gainers. Natco Pharma Ltd.(down 0.42 per cent) were the top losers on the index.

Bank of Baroda(up 0.68 per cent), State Bank of India(up 0.45 per cent), IndusInd Bank Ltd.(up 0.42 per cent), HDFC Bank Ltd.(up 0.35 per cent) and Bandhan Bank Ltd.(up 0.3 per cent) were among the top gainers. Federal Bank Ltd.(down 0.41 per cent), Punjab National Bank(down 0.32 per cent), Axis Bank Ltd.(down 0.18 per cent) and IDFC First Bank Ltd.(down 0.1 per cent) were the top losers on the index.

Godrej Properties Ltd.(up 1.43 per cent), DLF Ltd.(up 0.95 per cent), Sobha Ltd.(up 0.86 per cent), Phoenix Mills Ltd.(up 0.84 per cent) and Brigade Enterprises Ltd.(up 0.75 per cent) were among the top gainers. were the top losers on the index.

funds linked to the JP Morgan emerging market bond index that now features India are actively managed, implying the impact of overseas flows could be felt as early as December when global investors decide fresh allocations for the next calendar year. In recent conversations with market participants, JP Morgan's index managers have said that around 75% of the assets under management (AUM) linked to the bond indices are 'active', and that the total AUM tracking the platforms could be more than $300 billion, sources aware of the matter told ET. «With active funds being 75% of more than the $300 billion-AUM tracking the JP Morgan index, pre-positioning could start from December 2023 to March 2024 itself as long as foreign portfolio investors (FPIs) are registered here.

Shares of Au Small Finance Bank Ltd.(up 1.53 per cent), ICICI Bank Ltd.(up 1.16 per cent), State Bank of India(up 1.0 per cent), Axis Bank Ltd.(up 0.77 per cent) and Kotak Mahindra Bank Ltd.(up 0.7 per cent) ended the day as top gainers in the pack. On the other hand, Punjab National Bank(down 3.32 per cent), Bandhan Bank Ltd.(down 1.81 per cent) and Federal Bank Ltd.(down 1.18 per cent) finished as the top losers of the day.

Shares of Pfizer Ltd.(up 1.11 per cent), Sanofi India Ltd.(up 0.98 per cent), Laurus Labs Ltd.(up 0.88 per cent), Ipca Laboratories Ltd.(up 0.59 per cent) and Zydus Lifesciences Ltd.(up 0.26 per cent) ended the day as top gainers in the pack. On the other hand, Glenmark Pharmaceuticals Ltd.(down 1.72 per cent), Granules India Ltd.(down 1.44 per cent), GlaxoSmithKline Pharmaceuticals Ltd.(down 1.3 per cent), Torrent Pharmaceuticals Ltd.(down 0.72 per cent) and Aurobindo Pharma Ltd.(down 0.57 per cent) finished as the top losers of the day.

Nifty 50 today: Key domestic equity indices the Nifty 50 and the Sensex snapped their two-day losing run on Thursday amid mixed global cues ahead of the monetary policy meeting outcome on Friday. The three-day Monetary Policy Committee (MPC) meeting of the Reserve Bank of India (RBI) is underway. RBI Governor Shaktikanta Das will announce the outcome tomorrow.

Dr. Reddy's Laboratories Ltd.(up 0.79 per cent), Zydus Lifesciences Ltd.(up 0.67 per cent), Pfizer Ltd.(up 0.64 per cent), Alkem Laboratories Ltd.(up 0.59 per cent) and Abbott India Ltd.(up 0.43 per cent) were among the top gainers.

Bloomberg Index Services (BISL) will be holding advisory meetings for the Bloomberg Fixed Income Index in Asia, Europe, and the US this month and the next to discuss, besides other items, the eligibility of Indian sovereign bonds for inclusion in the benchmark being referenced by investors globally to buy bonds. The move comes barely two weeks after JP Morgan included India in its Global Government Bond Index-Emerging Markets (GBI-EM) global index suite starting June 2024. «BISL will be conducting the Bloomberg Fixed Income Index Advisory Councils (the „IACs“), in the US, Europe and Asia in October and November.

Shares of HDFC Bank Ltd.(up 1.42 per cent) and Bandhan Bank Ltd.(up 0.01 per cent) ended the day as top gainers in the pack. On the other hand, Axis Bank Ltd.(down 4.37 per cent), Punjab National Bank(down 4.14 per cent), State Bank of India(down 2.76 per cent), IDFC First Bank Ltd.(down 2.54 per cent) and Bank of Baroda(down 2.5 per cent) finished as the top losers of the day.

ASK Wealth Advisors Private Limited. "The inclusion into bond indices is good to have, feeds incrementally into the “Bharat shining" narrative. It’s also a good sandbox regulatory experiment for RBI, to manage monetary policy while losing some policy-making flexibility.