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India's mcap rises $1 trn since March; leads gains in top 10 equity markets
In percentage terms, India's market capitalisation (mcap) surged by over 21 per cent — the highest growth among the world's top 10 equity markets. India now ranks as the fifth-largest equity market globally, trailing only the US, China, Japan, and Hong Kong.
Germany recorded the second-largest gain during this period, with its mcap rising nearly 14 per cent. Canada followed with an 11 per cent jump, while Hong Kong's mcap increased by more than 9 per cent. Japan and the UK also saw gains of around 8 per cent each.
By contrast, the US, the world's biggest equity market, reported a modest increase of around 2.4 per cent. China, the second-largest, recorded a 2.7 per cent rise. France and Taiwan reported gains of over 3.9 per cent and 3.2 per cent, respectively.
Sensex and Nifty ride the rally
India's benchmark indices, the Sensex and Nifty, rose by 12.5 per cent and 13.5 per cent, respectively, during this period. Broader market indices performed even better: the BSE MidCap index climbed over 20.7 per cent, and the SmallCap index jumped by 26 per cent.
However, the rally has also led to stretched valuations, raising concerns among analysts. Many have started lowering their earnings forecasts, the report said.
Earnings estimates reflect caution
According to a recent note from JM Financial, the Nifty 50's earnings per share (EPS) estimate for FY25 saw a minor upward revision of 0.3 per cent in April 2025. However, estimates for FY26 and FY27 were downgraded by 1.1 per cent and 1.0 per cent, respectively. The slight upgrade for FY25 EPS is due to muted analyst expectations for Nifty's fourth-quarter FY25 profit after tax (PAT) heading into the results season, the news report said.
The trend of downgrades continues, with the April 2025 cuts for FY26 and FY27 being sharper than those recorded in earlier months — 0.9/0.6 per cent in February and 0.2/0.6 per cent in March. This points to a cautious outlook on forward earnings. According to Bloomberg consensus estimates, the Nifty 50 companies are projected to grow earnings by 14 per cent year-on-year in FY26.
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Time of India
an hour ago
- Time of India
Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week
Indian benchmark indices finally ended their six-week losing spree to end 1% higher every week. A host of important domestic and global events scheduled for the week are likely to impact stock markets when they resume trading on Monday. On Thursday, Nifty closed 11.95 points or 0.05% higher to end the day at 24,631.30. The markets were closed on Friday on account of Independence Day. Commenting on the current trends Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking said that markets staged a strong rebound as the Nifty index ended its six-week losing streak and formed a bullish candle on the weekly chart. The index reclaimed its 100-DMA at 24,560, which will now serve as an immediate support, he said. "Over the past month, the Nifty has struggled to cross its short-term 21-DMA at 24,770. A decisive move above this level is crucial to unlock further upside towards 25,000. The RSI has turned higher to 44, indicating improving momentum, while the MACD remains below the zero line. Although sentiment has improved, a clear confirmation of a trend reversal is still awaited." Factors that are likely to impact movement when markets reopen this week: 1. Trump-Putin talk The understanding reached between US President Donald Trump and Russian President Vladimir Putin on the Ukraine issue on Friday is expected to lift market sentiment when trading resumes on Monday. Although the two leaders stopped short of striking a deal to end the war, Putin said they had arrived at an 'understanding.' Their nearly three-hour meeting in Alaska did not produce a ceasefire, but Trump described it as a 'very good meeting,' while cautioning that 'there's no deal until there is a deal. Read more – Explained: How Nifty, Sensex may react to Trump-Putin talks and Modi's GST tax reform on Monday? 2. GST reform Prime Minister Narendra Modi's Independence Day announcement of major Goods and Services Tax (GST) reforms this Diwali could boost investor sentiment, opine experts. Speaking from the Red Fort on Independence Day, Modi on Friday announced rate cuts to be rolled out by Diwali in the GST 2.0. The PM said GST rates will be lowered on everyday-use goods as part of reforms to the eight-year-old tax regime. 3. US markets The action on Wall Street will give cues to the global markets including India. Wall Street's two major indices finished with declines while the Dow managed to remain afloat in the green. A mixed US economic data led to the souring in sentiments. While the US retail sales climbed 0.5% in July from June, the Federal Reserve's index for industrial production edged down The Dow 30 ended the session at 44,946.10, gaining 34.86 points or 0.08% while S&P 500 settled at 6,449.80, down by 18.74 points or 0.29%. The Nasdaq Composite closed at 21,623, falling by 87.69 points 0.40%. 4. Corporate Action Just about 100 companies have corporate actions lined-up this week with record dates for dividends, rights issue, stock split and bonus shares for more than 100 companies over the five-day trading week. The companies which will have record dates for the purpose of dividend are JK Paper, Jammu & Kashmir Bank, Natco Pharma, Power Grid Corporation of India, Senco Gold, Coal India, Hindustan Aeronautics (HAL), Rail Vikas Nigam (RVNL), Federal Bank, Godfrey Phillips India and Indian Railway Catering and Tourism Corporation (IRCTC). Algoquant Fintech's record date will be for the purpose of stock split, Josts Engineering Company for rights issue and Bemco Hydraulics for bonus issue. 5. IPO watch It will be an IPO heavy week as 5 mainboard issues and one SME issue will hit the Indian primary markets. In the mainboard category, Patel Retail, Vikram Solar, Gem Aromatics, Shreeji Shipping Global and Mangal Electrical Industries will launch their public issues. In the SME segment, Studio LSD will launch its IPO and the stock will get listed on the NSE Emerge platform. Also Read: Vikram Solar, 5 other IPOs to open next week. Here's what GMPs suggest 6. FII / DII Action Market actions will rely on how foreign institutional investors (FIIs) behave. Foreign Institutional Investors (FIIs) sold shares worth Rs 10,173 crore last week. On Friday, FIIs outflows stood at Rs 1,926.8 while the domestic institutional investors were net buyers at Rs 3,896 crore. In 2025 so far, FIIs have sold shares worth Rs 1,16,617 crore. lso Read: FIIs sell Indian equities worth Rs 20,975 crore in August so far. Can Trump-Putin's Ukraine 'understanding' reverse trends? 7. Technical Factors Santosh Meena, Head of Research at Swastika Investmart said that the extreme oversold conditions and supportive global cues lifted investor sentiment though momentum remained muted due to persistent foreign outflows. Broader markets staged a recovery across sectors, led by pharma and auto stocks, though FMCG lagged, he added. From a technical standpoint, the Nifty has established a strong base at the 24,350 level, forming a bullish engulfing candlestick pattern on the weekly chart, Meena said. "The immediate resistance lies at the 20 and 50-day moving averages (DMAs) clustered around 24,700-24,800. A decisive break above this level could trigger a short-covering rally towards 24,950, 25,080, and 25,225. Immediate support is at the 100-DMA of 24,575, with the crucial support level remaining at 24,350," he added. 8. Rupee Vs Dollar The rupee closed at 87.5500 against the U.S. dollar, softer than Wednesday's close of 87.4400, navigating a choppy session that saw it swing between 87.39 and 87.67. The currency unit touched 87.8850 last week after Trump's tariffs salvo, with the Reserve Bank of India stepping in to prevent the rupee from breaching the all-time low of 87.95 - a level bankers believe the central bank will continue to defend. "In the shorter term, we may see some relief on the ratings upgrade, but the rupee is still not out of the woods as trade uncertainties persist and broad economic indicators are still weak," said Dilip Parmar, currency analyst at HDFC Securities. 9. Crude Oil Crude oil prices cooled on Friday in light of the Trump-Putin meeting. Moreover, quoting analysts Reuters reported that premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends. The US WTI oil contracts ended at $63.14, down by $0.82 or 1.28% while Brent oil futures were hovering near $65.85, higher by $0.71 or 1.06%. (Inputs from agencies)
Economic Times
an hour ago
- Economic Times
Trump-Putin talk, GST reform and FII action among 9 factors to impact stock markets this week
Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads 3. US markets 4. Corporate Action Tired of too many ads? Remove Ads 5. IPO watch 6. FII / DII Action 7. Technical Factors 8. Rupee Vs Dollar 9. Crude Oil Indian benchmark indices finally ended their six-week losing spree to end 1% higher every week. A host of important domestic and global events scheduled for the week are likely to impact stock markets when they resume trading on Thursday, Nifty closed 11.95 points or 0.05% higher to end the day at 24,631.30. The markets were closed on Friday on account of Independence on the current trends Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research) at Centrum Broking said that markets staged a strong rebound as the Nifty index ended its six-week losing streak and formed a bullish candle on the weekly chart. The index reclaimed its 100-DMA at 24,560, which will now serve as an immediate support, he said."Over the past month, the Nifty has struggled to cross its short-term 21-DMA at 24,770. A decisive move above this level is crucial to unlock further upside towards 25,000. The RSI has turned higher to 44, indicating improving momentum, while the MACD remains below the zero line. Although sentiment has improved, a clear confirmation of a trend reversal is still awaited."Factors that are likely to impact movement when markets reopen this week:The understanding reached between US President Donald Trump and Russian President Vladimir Putin on the Ukraine issue on Friday is expected to lift market sentiment when trading resumes on Monday. Although the two leaders stopped short of striking a deal to end the war, Putin said they had arrived at an 'understanding.' Their nearly three-hour meeting in Alaska did not produce a ceasefire, but Trump described it as a 'very good meeting,' while cautioning that 'there's no deal until there is a more – Explained: How Nifty, Sensex may react to Trump-Putin talks and Modi's GST tax reform on Monday? Prime Minister Narendra Modi's Independence Day announcement of major Goods and Services Tax (GST) reforms this Diwali could boost investor sentiment, opine experts. Speaking from the Red Fort on Independence Day, Modi on Friday announced rate cuts to be rolled out by Diwali in the GST 2.0. The PM said GST rates will be lowered on everyday-use goods as part of reforms to the eight-year-old tax action on Wall Street will give cues to the global markets including India. Wall Street's two major indices finished with declines while the Dow managed to remain afloat in the green. A mixed US economic data led to the souring in sentiments. While the US retail sales climbed 0.5% in July from June, the Federal Reserve's index for industrial production edged downThe Dow 30 ended the session at 44,946.10, gaining 34.86 points or 0.08% while S&P 500 settled at 6,449.80, down by 18.74 points or 0.29%. The Nasdaq Composite closed at 21,623, falling by 87.69 points 0.40%.Just about 100 companies have corporate actions lined-up this week with record dates for dividends, rights issue, stock split and bonus shares for more than 100 companies over the five-day trading companies which will have record dates for the purpose of dividend are JK Paper, Jammu & Kashmir Bank, Natco Pharma, Power Grid Corporation of India, Senco Gold, Coal India, Hindustan Aeronautics (HAL), Rail Vikas Nigam (RVNL), Federal Bank, Godfrey Phillips India and Indian Railway Catering and Tourism Corporation (IRCTC).Algoquant Fintech's record date will be for the purpose of stock split, Josts Engineering Company for rights issue and Bemco Hydraulics for bonus will be an IPO heavy week as 5 mainboard issues and one SME issue will hit the Indian primary markets. In the mainboard category, Patel Retail, Vikram Solar, Gem Aromatics, Shreeji Shipping Global and Mangal Electrical Industries will launch their public the SME segment, Studio LSD will launch its IPO and the stock will get listed on the NSE Emerge Read: Vikram Solar, 5 other IPOs to open next week. Here's what GMPs suggest Market actions will rely on how foreign institutional investors (FIIs) behave. Foreign Institutional Investors (FIIs) sold shares worth Rs 10,173 crore last week. On Friday, FIIs outflows stood at Rs 1,926.8 while the domestic institutional investors were net buyers at Rs 3,896 2025 so far, FIIs have sold shares worth Rs 1,16,617 Read: FIIs sell Indian equities worth Rs 20,975 crore in August so far. Can Trump-Putin's Ukraine 'understanding' reverse trends? Santosh Meena, Head of Research at Swastika Investmart said that the extreme oversold conditions and supportive global cues lifted investor sentiment though momentum remained muted due to persistent foreign outflows. Broader markets staged a recovery across sectors, led by pharma and auto stocks, though FMCG lagged, he a technical standpoint, the Nifty has established a strong base at the 24,350 level, forming a bullish engulfing candlestick pattern on the weekly chart, Meena said. "The immediate resistance lies at the 20 and 50-day moving averages (DMAs) clustered around 24,700-24,800. A decisive break above this level could trigger a short-covering rally towards 24,950, 25,080, and 25,225. Immediate support is at the 100-DMA of 24,575, with the crucial support level remaining at 24,350," he rupee closed at 87.5500 against the U.S. dollar, softer than Wednesday's close of 87.4400, navigating a choppy session that saw it swing between 87.39 and 87.67. The currency unit touched 87.8850 last week after Trump's tariffs salvo, with the Reserve Bank of India stepping in to prevent the rupee from breaching the all-time low of 87.95 - a level bankers believe the central bank will continue to defend."In the shorter term, we may see some relief on the ratings upgrade, but the rupee is still not out of the woods as trade uncertainties persist and broad economic indicators are still weak," said Dilip Parmar, currency analyst at HDFC oil prices cooled on Friday in light of the Trump-Putin meeting. Moreover, quoting analysts Reuters reported that premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand US WTI oil contracts ended at $63.14, down by $0.82 or 1.28% while Brent oil futures were hovering near $65.85, higher by $0.71 or 1.06%.(Inputs from agencies)(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Mint
2 hours ago
- Mint
Stocks to buy or sell: Dharmesh Shah of ICICI Sec suggests buying Indian Hotel, PFC shares tomorrow
Stock market news: Indian stock markets broke a six-week downturn and closed almost a percent higher during the week shortened by holidays. The week began on a positive note, but the momentum slowed down in the following days due to mixed indicators. In the end, the benchmark indices rose, with the Nifty 50 finishing at 24,631.30 and the Sensex at 80,597.66. Experts suggest that in the upcoming week, investors will monitor domestic high-frequency data, including HSBC India Manufacturing, Services, and Composite PMIs, for insights into growth momentum. On the global front, US economic indicators such as building permits, housing starts, FOMC minutes, jobless claims, and PMI flash surveys will be under close scrutiny. On the technical front, Dharmesh Shah believes Nifty 50 to head towards psychological mark of 25,000 in the coming weeks. Shah recommends two stocks to buy this week, here's what he says about the overall stock market. Investors should consult experts before making decisions. Equity benchmark snapped six weeks losing streak and settled the week at 24,600 up 1% tracking lowest inflation print in 8 years. Further, record breaking Mutual Fund inflows boosted market sentiment. Sectorally, Pharma, Auto and PSU Banks witnessed strong rebound. The weekly price action resulted into bull candle carrying higher low, indicating pause in corrective bias after six consecutive weeks decline. The Trump-Putin Alaska summit ended with some progress (without any economic sanctions) which is a positive sign and market would breathe a sigh of relief. Further, the Indian Government's reform push of moving to two-slab GST structure would boost the market sentiment leading Nifty 50 to head towards psychological mark of 25,000 in the coming weeks. In the process, bouts of volatility would prevail tracking tariff development which would offer incremental buying opportunity. Key point to highlight is that, despite tariff headwinds over past couple of months Nifty 50 managed to hold 24,500 on a weekly closing basis, indicating most of the negativity around tariff development is now getting priced-in. Hence, any positive development from hereon could boost market sentiment and thereby we expect 24,200 to continue to act as key support being 200 days EMA coupled with the Mid-May Gap aera and 38.2% retracement of entire up move seen from April lows (21,743). Structurally, we are in a secular bull market, wherein intermediate corrections due to Global as well as domestic uncertainties have offered incremental buying opportunity from medium term perspective as higher bottom on a lager degree time frame are still intact. Hence, we advise investors to avoid noise and instead capitalise current corrective phase to build quality portfolio backed by strong earnings in a staggered manner based on following observations: a. In the technical parlance, 52 weeks EMA (Equivalent to 200 days) has the utmost importance where long term accumulation take place. The index is finding key support zone of 24,200-24,000 being 52 weeks EMA amid oversold condition. b. On the market breadth front, the % of stocks above 50 days SMA have bounced from lower band of bull market phase (30-25). Historically, buying in such scenario have garnered decent returns in subsequent months. Dharmesh Shah of ICICI Securities recommends buying Indian Hotel, and Power Finance Corporation Ltd (PFC) shares this week. 1. Buy Indian Hotel in the range of ₹ 755-771. He has Indian Hotel share price target of 824 with a stop loss of ₹ 729 2. Buy PFC shares in the range of ₹ 410-420. He has PFC share price target of ₹ 478 with a stop loss of ₹ 388. Disclaimer: The Research Analyst or his relatives or I-Sec do not have actual/beneficial ownership of 1% or more securities of the subject company, at the end of 14/08/2025 or have no other financial interest and do not have any material conflict of interest. The views and recommendations provided in this analysis are those of individual analysts or broking companies, not Mint. We strongly advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and individual circumstances may vary.
