PhonePe’s Share.Market enhances convenience with friction-free onboarding
Share.Market, a PhonePe product, on Monday announced the removal of onboarding charges of Rs 199, ensuring a seamless onboarding experience.
Share.Market, a PhonePe product, on Monday announced the removal of onboarding charges of Rs 199, ensuring a seamless onboarding experience.
The Sensex of BSE on Wednesday had a dalliance with 62,000 points and closed at 61,980.72 points. The Sensex opened at 61,708.63 points which were also the day's lowest point. It touched a high of 62,052.57 points during the day.
At 9.57 am, Sensex traded at 61,782.52 points, down 90.47 points or 0.15 per cent, whereas Nifty traded at 18,380.55 points, down 22.85 points or 0.12 per cent. Notably, Sensex tasted a record high of 61,873 on Tuesday.
As companies try to bet on domestic equity markets with its more stable conditions, Five Star Business Finance, Archean Chemical Industries, Kaynes Technology India, and Inox Green Energy are among the stocks whose initial public offerings are set to open next week.
So far in September, FPIs bought Rs 8,638 crore worth of equities in India, the latest data available from National Securities Depository showed. In July and August, they infused Rs 4,989 crore and Rs 51,204 crore, respectively. September 2021 was the last time when foreign investors were net buyers.
The Indian economy is resilient and has shown strength despite weakness across the globe whereas any correction in its equity markets should be utilized as an opportunity to invest for the long-term, said financial services firm Emkay Wealth Management.
Shares of Ambuja Cements jumped sharply on Monday to hit an all-time high after the formal acquisition of the cement maker by the Adani Group.
The 30 stock S&P BSE Sensex surged 455.95 points or 0.76 per cent to 60,571.08 points against its previous day's close at 60,115.13 points. The Sensex started the day in the positive at 60,408.29 points and surged to a high of 60,635.28 points in the intra-day.
At 9.27 a.m., Sensex traded at 58,661.81 points, down 112.06 points or 0.19% per cent, whereas Nifty traded at 17,478.75 points, down 11.95 points or 0.068 per cent.
The interest of FPIs in the Indian share market is surprising, because the profitability of Indian corporates is one of the lowest in the world; the combined net profit of BSE 500 companies in 2018-19 was US$ 63 billion, which is equivalent to 2.31 per cent of India's GDP, as against 6.1 per cent of the GDP in the US for the top 500 companies
