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Limited pockets of value in Indian market: Report
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SME Times News Bureau | 19 Mar, 2019
The Indian stock market
currently has limited pockets of value, with only a few corporate banks
and non-banking financial companies (NBFC) along with most public sector
undertaking (PSU) stocks offering meaningful value, a report said on
Tuesday.
The report comes at a time when the overall sentiment is
upbeat and key equity indices, Sensex and Nifty, are approaching their
respective all-time high, with financial stocks being the most favoured
ones.
"We do not find meaningful value in most parts of the
market barring certain financial stocks and PSUs after the recent strong
performance of several stocks across the capitalisation spectrum," the
Kotak Institutional Equity report said.
According to the report,
the recent rally in the Indian stock market suggests that the market is
quite confident about the ruling BJP-led NDA government returning to
power post the 2019 general elections in April-May 2019.
It
added that the recent opinion polls on the 2019 general elections
project the BJP-led NDA coalition winning 264-290 seats, close to or
above the half-way mark of 272 seats (out of 543 seats in the lower
house of Parliament) required to form a government.
The state of
Uttar Pradesh will be key given its 80 seats and complex caste and
religion dynamics, the BJP's dominant performance in the state in the
2014 elections and the presence of a powerful regional alliance of the
BSP and SP with their dedicated voter bases, the report said.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
|
75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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