AUTO REFRESH ON About 75% diversified equity schemes trail benchmark index: Study Fund managers faced a tough time beating the benchmark in 2018, with nearly three in four diversified equity schemes underperforming their respective underlying indices. A study of 235 equity schemes that includes direct plans shows that 168, or 71 per cent, have underperformed their respective benchmarks, observed Value Research. Market observers have attributed this to large sums chasing too few stocks, and the impact of regulatory changes such as categorisation of schemes as well as the introduction of total returns index, in lieu of a simple price index. Read more
The benchmark indices have pared their losses and are now trading on a positive note led by HDFC twins and Axis Bank.
Among the sectoral indices, the Nifty Bank index is trading over 0.5 per cent higher led by Bank of Baroda and Punjab National Bank. The Nifty Realty index, too, is trading over 2 per cent higher led Prestige Estates Projects and Oberoi Realty.
In the broader markets, the S&P BSE MidCap index was trading 25 points or 0.16 per cent lower at 15413 levels. However, the S&P BSE SmallCap index was up 12 points or 0.08 per cent at 14,719 levels.
Among the sectoral indices, the Nifty Bank index is trading over 0.5 per cent higher led by Bank of Baroda and Punjab National Bank. The Nifty Realty index, too, is trading over 2 per cent higher led Prestige Estates Projects and Oberoi Realty.
Shares of real estate companies were in focus on Tuesday with the Nifty Realty index gaining more than 2 per cent in an otherwise subdued market. D B Realty and Kolte-Patil Developers rallied 16% and 14%, respectively. Ganesh Housing Corporation and Ajmera Realty & Infra India were up 6% each. Prestige Estates Projects, Oberoi Realty, Godrej Properties, Unitech, Indiabulls Real Estate and DLF from the Nifty Realty index up in the range of 2% to 5%. READ HERE
Shares of Atul Auto surged 17 per cent to Rs 338.50 apiece on the BSE in morning trade after the company posted a strong 50 per cent growth in sales numbers for December 2018. The three-wheeler manufacturer sold 4,332 units in December against 2,890 units in the same month last year. The company’s total vehicle sales during December quarter grew 39 per cent at 13,808 units, as compared to 9,922 units sold in the previous year quarter. READ HERE
In the broader markets, the S&P BSE MidCap index was trading 25 points or 0.16 per cent lower at 15413 levels. However, the S&P BSE SmallCap index was up 12 points or 0.08 per cent at 14,719 levels.
Global Markets
Most Asian markets are shut on account of New Year.
The Wall Street advanced in low-volume trading on Monday as investors gathered to ring in 2019, marking the end of the worst year for US stocks since 2008, the height of the financial crisis.
The Dow Jones Industrial Average rose 265.06 points, or 1.15 per cent, to 23,327.46, the S&P 500 gained 21.11 points, or 0.85 per cent, to 2,506.85 and the Nasdaq Composite added 50.76 points, or 0.77 per cent, to 6,635.28.
(with Reuters input)
(with Reuters input)