Returns from midcap index turn negative in 2022
时间:2024-06-26 14:25:51 阅读(143)
By Siddhant Mishra
The BSE midcap index slipped into the negative territory for 2022 on Friday, with the markets witnessed a huge fall. The index crashed 858.44 points, or 3.40%, to 24,426.79, on a day the Sensex slumped by almost 1,000 points to end below the 60,000-mark. Year to date, it has declined 2.18%.
Also Read: S&P 500 sectors with the highest buy rating from analysts
P&G Hygiene and Lodha Group were the only ones who escaped the bearish sentiment to end in the green, rising 1.11% and 0.06%, respectively. Banks were at the receiving end, with IOB crashing more than 14% and Union Bank down more than 11%.
The index has seen quite a swing, having fallen below the 21,000-mark in June. As of Friday, it has tanked over 7% since its 52-week high of 26,440.81 achieved on December 14.
“This was due to strong economy-related data from the US, which will keep interest rates high, thereby reducing inflows to EMs. The unusual Covid surge in China will keep Asian peers down, indirectly affecting markets that are doing well. Valuations will also remain expensive for those countries. They will fail to attract value-buying, rather may invite further profit taking,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities. He added that this has impacted especially global-centric stocks such as IT, metals, and chemicals. It will attract profit taking in stocks with high valuation.
Also Read: Markets tomorrow: Nifty, Sensex end deep in red; keep a check on leveraged positions, hedge your bets
Agrees Sujan Hajra, chief economist and ED, Anand Rathi Shares and Stock Brokers, saying: “Interest-sensitive sectors including financials, capital goods and realty, as well as global cyclicals like oil & gas and metals, have been at the forefront of significant market movements. Export-oriented sectors like IT and pharma have also seen considerable volatility.”
The BSE smallcap, which has been at the receiving end of similar bouts of volatility, has slumped close to 7.5% since the beginning of the year. It has crashed close to 13% from its 52-week high on January 18 this year.
Nitasha Shankar, head (PRS Equity Research), YES Securities, said the volatility and outflows could be attributed to higher valuation vis-à-vis the benchmarks, weaker-than-expected earnings in the September quarter and investors seeking safety.
“The markets are still trading at a 15-20% premium despite a timely correction in 2022, and could see further consolidation before valuations become reasonable for fresh entry points.”
上一篇:Rating- buy; Tata Motors expects India biz to recover
Also Read: Zerodha’s Nikhil Kamath tells when to buy stocks, shares Buffett formula to find the right time
FII and DII trades: Foreign Institutional Investors (FII) have been net buyers of domestic stocks for successive days now. On Wednesday, FIIs pumped in Rs 2,347 crore. Domestic Institutional Investors (DII) have been net sellers, pulling out Rs 510 crore yesterday.
IPO watch: Syrma SGS Technology enters the final day of bidding today. So far the issue, that opened last week, has been subscribed 2.27 times. Retail investors have subscribed their portion 2.66 times while NIIs have bid for their quota 3.58 times and QIB portion has been bid for 0.71 times.
猜你喜欢
- Rape accused escapes from CISF custody at Delhi’s IGI airport
- Nifty needs to hold above 17350 for further upside, support shifts higher to 17250
- Rating- buy; UEPL buyout to help Mahanagar Gas expand its CGD presence
- Petrol and diesel price June 15- Fuel rates remain steady; Check prices in Delhi, Mumbai, other cities here
- Quantum of gold smuggling went up as post Covid related lockdowns eased- DRI report
- Rainbow Children’s Medicare IPO- Check price band, issue size, grey market premium; listing likely on May 10
- Nifty positively biased for short term towards 18800 shows June futures data; Auto, Cement, IT looks positive
- Nifty short-term trend positive, may move to 18000 once 17800 breached; 5 things to know before opening bell
- Petrol and diesel price May 27- Fuel cost steady; Check prices in Delhi, Mumbai, other cities here