Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Closes 378 Points Lower; Dena Bank Tumbles 20% Post Merger Deal
Thu, 3 Jan Closing | Rini Mehta, TM Team

Indian share markets ended lower following a selloff in Asian markets. At the closing bell, BSE Sensex ended down by 378 points, while, NSE Nifty ended down by 120 points.

All sectoral indices ended on a negative note with metal stocks, and energy stocks witnessing maximum selling pressure.

Among major moves, shares of Dena Bank and Vijaya Bank slumped, while Bank of Baroda shares jumped after BoB announced share swap ratio of their proposed merger.

Globally, Asian stock markets finished lower today with shares in Japan leading the region. The Nikkei 225 is down 0.3% while Hong Kong's Hang Seng is off 0.3% and China's Shanghai Composite is lower by 0.1%. European markets are lower today with shares in Germany off the most. The DAX is down 0.6% while France's CAC 40 is off 0.5% and London's FTSE 100 is lower by 0.1%.

Note that, Sensex closed the year at 36,068.

A year ago, on the last trading day of 2017, the Sensex had closed at 34,057.

That's a 6% gain for the Sensex in 2018.

For equities, that's not a good enough return. Your money could have done better parked in fixed deposits.

The Story of Sensex 2018

Most investors have seen their investments diminish in value during the year.

In fact, the total market value of all listed companies on the BSE declined 5% to Rs 144.1 trillion from Rs 151.7 trillion at the end of 2017.

--- Advertisement ---
Don't Buy Any Stock Before You Read All About These 4 Junior Blue Chips…

Here's wishing you a prosperous 2019…

In fact, here's the first step we recommend that you take this year…BEFORE you buy any stock!

Richa – Editor of our small cap stock recommendation service – Hidden Treasure – has identified 4 small caps which have SOLID business models…immense growth potential…and are available at deep discounts from their real worth.

She calls these stocks – The Junior Blue Chips.

In other words, a small caps which have the potential to become the Blue Chips of tomorrow.

So, before you buy even a single new stock, make sure that you go through full details on this exceptional opportunity.

Click Here To Know All About Richa's Junior Blue Chips…
------------------------------

In other words, wealth worth Rs 7.6 trillion, which is more than the market cap of Tata Consultancy Services or Reliance Industries, was wiped out during the year.

Now, as the year 2019 begins, in the latest edition of our stock market podcast, we talk about the investment strategy for 2019 and Richa Agarwal's 4 small cap stocks that we need to watch out for. Listen in to find out. Just visit SoundCloud, iTunes or Stitcher.

In the news from the currencies space, Indian rupee weakened against US dollar today on account of strengthening of American currency amid sustained foreign fund outflows.

Further, fall in domestic equities also dragged down the domestic unit.

Though, falling crude oil prices capped rupee's losses. As per the reports, foreign funds pulled out Rs 6.2 billion from the capital markets on a net basis, while domestic institutional investors sold shares worth Rs 2.3 billion on Wednesday.

The rupee is currently trading at 70.39, weaker by 21 paise from its previous close of 70.18 on Wednesday. The currency touched a high and low of 70.53 and 70.30 respectively.

The reference rate for the dollar stood at 69.60 and for Euro stood at 79.96 on 2 January 2019.

Moving on to the news from engineering sector. In the latest development, Larsen & Toubro's (L&T) construction arm, L&T Construction won orders worth Rs 10.6 billion.

The Smart World and Communication business has secured a major order from the Andhra Pradesh State FiberNet (APSFL) for Bharatnet Phase-II works to establish an IPMPLS Infrastructure covering the 13 districts of Andhra Pradesh.

The scope of the work involves the creation of a digital infrastructure-including-implementation, end to-end integration, Disaster Recovery, Cloud-based Data Centre (DC) among others.

Another order has been secured from Pimpri-Chinchwad Smart City for the creation of a City Network Backbone and implementation of smart elements.

Notably, diversification continues to help L&T negotiate and get better terms and margins for projects. Apparently, this is because it is less desperate to win orders as compared to a company which are present in only a couple of sectors.

Its reputation, extensive technical prowess, and large skilled workforce have enabled L&T to command a certain premium from customers and vendors alike.

Whether, further addition to these new projects provides a cushion to its profitability will be an interesting thing to watch out for going forward.

To know more about the company, you can access to L&T's Q2FY19 result analysis and L&T's 2017-18 Annual Report Analysis on our website.

L&T share price ended down by 2%.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Closes 378 Points Lower; Dena Bank Tumbles 20% Post Merger Deal". Click here!

  

Stock Market Updates

TUBE INVESTMENTS OF INDIA LTD Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Aug 7, 2020 03:34 PM

TUBE INVESTMENTS OF INDIA LTD share price is trading up by 5% and its current market price is Rs 558. The BSE CAPITAL GOODS is up by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are TUBE INVESTMENTS OF INDIA LTD (up 5.2%) and HONEYWELL AUTOMATION (up 14.2%). The top losers are V GUARD INDUSTRIES (down 0.2%) and SKF INDIA (down 0.3%).

BANK OF BARODA Share Price Up by 5%; BSE BANKEX Index Up 0.4% (Today's Market)

Aug 7, 2020 03:34 PM

BANK OF BARODA share price is trading up by 5% and its current market price is Rs 49. The BSE BANKEX is up by 0.4%. The top gainers in the BSE BANKEX Index are BANK OF BARODA (up 5.1%) and RBL BANK LTD (up 9.7%). The top losers are AXIS BANK and SBI (down 0.2%).

ADANI TRANSMISSION Share Price Up by 9%; BSE POWER Index Up 1.4% (Today's Market)

Aug 7, 2020 03:34 PM

ADANI TRANSMISSION share price is trading up by 9% and its current market price is Rs 254. The BSE POWER is up by 1.4%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 9.0%) and JSW ENERGY (up 5.3%). The top losers are NTPC (down 0.3%) and KALPATARU POWER (down 0.5%).

ESSEL PROPACK Share Price Down by 5%; BSE 500 Index Up 0.3% (Today's Market)

Aug 7, 2020 03:14 PM

ESSEL PROPACK share price is trading down by 5% and its current market price is Rs 275. The BSE 500 is up by 0.3%. The top gainers in the BSE 500 Index are HONEYWELL AUTOMATION (up 11.7%) and RBL BANK LTD (up 10.0%). The top losers are ESSEL PROPACK (down 5.0%) and LUPIN (down 6.0%).

EMAMI LTD Share Price Up by 6%; BSE FMCG Index Up 0.8% (Today's Market)

Aug 7, 2020 02:26 PM

EMAMI LTD share price is trading up by 6% and its current market price is Rs 254. The BSE FMCG is up by 0.8%. The top gainers in the BSE FMCG Index are EMAMI LTD (up 6.2%) and GSK CONSUMER (up 5.1%). The top losers [TOPLOSERS].

Sensex Trades Marginally Lower; HCL Technologies & Infosys Top Losers (Today's Market)

Aug 7, 2020 12:30 pm

The BSE Sensex is trading down by 83 points, while the NSE Nifty is trading down by 18 points.

View More Indian Share Market News

Most Popular

These 5 Smallcaps Deserve a Place in Your Coffee Can Portfolio(Profit Hunter)

Jul 28, 2020

When it comes to quality stocks, doing less is more.

Before You Buy Your First Electric Vehicle Consider Buying this Stock(Profit Hunter)

Jul 29, 2020

As competition intensifies in the electric vehicle space, only few will create huge wealth over the years.

How to Buy Gold and Silver(Fast Profits Daily)

Jul 27, 2020

In this video I'll show you how to buy bullion the right way.

Large Opportunities Are Coming Our Way

Aug 5, 2020

Kenneth Andrade tells us why stocks will bounce back strongly and what he's bullish on.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 7, 2020 (Close)

MARKET STATS