How are capital gains on equities taxed?
When you own equity shares, there are two kinds of incomes that are generated. Firstly, there are dividends that are earned by you on a regular basis when the company pays out the dividends. Most profitable companies do pay out dividends to shareholders. The second source of income from equities comes from capital gains. Capital gains represent the profits made on the sale of shares and represent the excess of the sale price less the purchase price. The chart below captures the essence of capital gains and capital losses. Read More Nifty PSU Bank index trading over 5% down weighed by SBI
Graphite India, HEG extend rally in a weak market on strong outlook
Shares of graphite electrode (GE) manufacturing companies such as Graphite India and HEG were trading higher by up to 9% in an otherwise weak market on the expectation of strong earnings growth.
Graphite India was locked in upper circuit for the second day in a row, up 5% at Rs 871 on the BSE. A combined 914,725 equity shares changed hands and there were pending buy orders for 313,348 shares on the NSE and BSE. Read More
MARKET COMMENT Mustafa Nadeem, CEO, Epic Research
It’s a bear momentum we are in and that particular momentum when is seen in a long-term bullish trend every reversal with a bullish sentiment is played in favor of bulls. But there was no confirmation technically that this pullback may last long. The reasons that can be contributed are many. Globally markets weren’t making new highs while Asian markets such as Nikkei, STI and other important indices were as well struggling. So this was a major part that came in. Derivatives data did suggest that the range for Nifty is 10400 – 10500 Max on the upside and 10100 on the downside and it could be uglier with that big a range. And Bottom fishing would have been much riskier.
Strong growth in base biz powers Zee Entertainment’s show in Sep quarter
Worries about the higher scale of investments in the digital vertical taking a toll on margins were put to rest, at least in the September quarter, as Zee Entertainment reported better-than-expected financials. Aided by strong base business growth, operating profit margins came in at 34 per cent, up 300 basis points as compared to the year-ago number.
Analysts had expected the number to be in the 30-31 per cent mark. Profit at the operating level was up 37 per cent, despite the continued high programming costs that were up 25 per cent year-on-year. READ MORE
Investors should use rallies to exit weaker NBFC stocks, say experts
Stocks of non-banking finance companies (NBFCs), among the biggest losers in the recent carnage, undoubtedly benefitted from Wednesday’s market rally, as they gained up to 16 per cent. The good spell did lift these well above their 52-week lows.
Yet, experts urge investors to use such rallies to exit from the weaker names. READ MORE
The benchmark indices are trading around 2.5 per cent lower tracking their Asian peers which sank on Thursday after Wall Street suffered its worst drubbing in eight months.
Among the sectoral indices, the
Nifty IT index has slipped over 3 per cent led by losses in the shares of Infosys and Tata Consultancy Services (TCS). The
Nifty Metal index too has fallen over 4 per cent weighed by Tata Steel and Vedanta.
Stock specific actions are likely to continue as the IT bellwether TCS is slated to announce its September quarter earnings later today. Majority of the analysts expect IT companies to report healthy numbers led by the ramp-up of recent large deal wins, improving the macro environment, and strong seasonality.
Asian share markets sank in a sea of red on Thursday after Wall Street suffered its worst drubbing in eight months, a conflagration of wealth that could threaten business confidence and investment across the globe.
It also raised the stakes for US inflation figures due later on Thursday as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve.
MSCI’s broadest index of Asia-Pacific shares outside Japan plummeted 3.9 per cent to its lowest since March 2017. Japan’s Nikkei fell 4.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $230 billion in market value. Shanghai shares dropped 4.3 per cent, on track for their worst day since February 2016, to their lowest level since late 2014, while China blue chips slid 4 per cent.
On Wall Street, the S&P500’s sharpest one-day fall since February wiped out around $850 billion of wealth as technology shares tumbled on fears of slowing demand.
(With inputs from Reuter)