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

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

  • MyStocks


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

Sensex Opens Higher; Coal India Rallies
Tue, 9 Jan 09:30 am | Rini Mehta, TM Team

Asian stock markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.15% while the Hang Seng is up 0.23%. The Nikkei 225 is trading up by 0.54%. US stocks closed mixed as investors turned cautious ahead of earnings.

Back home, India share markets opened the day on a positive note. The BSE Sensex is trading higher by 88 points while the NSE Nifty is trading higher by 29 points. The BSE Mid Cap index and BSE Small Cap index both opened the day up by 0.2%.

All sectoral indices have opened the day in green with metal stocks and realty stocks witnessing maximum buying interest. The rupee is trading at 63.35 to the US$.

Coal India share price rallied over 4.7% in the opening trade on the reports that it has raised prices of thermal coal by an average 9%. The decision was taken at a board meeting held on Monday while revised prices would be effective from today. It will make power generation costlier by a similar percentage. Cost of cement and fertiliser production is also expected to rise as a result.

Automobile stocks have opened the day on a mixed note with Ashok Leyland and Maharashtra Scooters being the most active stocks in this space. Tata Motors announced that despite tough conditions in some markets, Jaguar Land Rover achieved record global sales in 2017 with retails of 621,109 vehicles, up 6.5% on the prior year.

Retail sales for the month of December were 55,697, up 0.6% and for the quarter were 154,447 vehicles, up 3.5%.

Further, retail sales in December were up in Overseas markets (19%) and in China (12.6%) but down in the UK (15.8%), US (9.2%) and Europe (4.6%), reflecting weaker market conditions in the UK and to a lesser extent the US.

Jaguar retail sales were 15,079 vehicles in December, down 7.8% compared to December 2016 as solid sales of the long wheel base Jaguar XFL in China and the introduction of the E-PACE were more than offset by softer sales of XE and XJ.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Land Rover retailed 40,618 vehicles in December 2017, up 4.1% compared to December 2016, led by the introduction of the Range Rover Velar and the sales ramp up of the all new Discovery.

Going forward, the company expects going to get tough in UK due to weak consumer confidence and diesel tax.

Tata Motors share price opened the day up by 0.4%.

In another development, the government has announced a stake sale in NMDC through the Offer for Sale (OFS) route.

The government plans to sell 47.4 million shares in the company via OFS over 9-10 January 2018.

The floor price for the OFS is Rs 153.5, a 5.4% discount to yesterday's closing price. The OFS would raise Rs 7280 million for the government assuming that the allocation price is the same as the floor price.

A minimum of 25% is reserved for institutional investors (Mutual Funds and Insurance companies) and 20% is reserved for retail investors. Retail investors would also receive a 5% discount to their allocation price. The offer for Non-retail investors would be open today and for retail investors the OFS would be open on 10 January.

The Centre currently owns 74.9% in the country's largest iron ore producer.

One shall note that, the government has already raised Rs 538.3 billion through disinvestment in public sector firms this fiscal by listing public sector insurers and exchange traded fund.

For the current fiscal year, it has set a target of raising Rs 725 billion via disinvestment, which includes Rs 465 billion through minority stake sales, Rs 150 billion from strategic sale and another Rs 110 billion from listing of insurance firms.

Higher Revenue from Disinvestment?

As per an article in Business Standard, the department of investment and public asset management (DIPAM) is looking to not only to achieve FY18 target, but also aiming to take disinvestment proceeds beyond Rs 900 billion. With this, any shortfall from other revenue items, including GST could be made up by disinvestment.

This optimism is mainly due mega deal of ONGC acquiring HPCL, which could get the exchequer Rs 300 billion. Similarly, there are a number of IPOs lined up which includes the likes of Ircon, Hindustan Aeronautics, Bharat Dynamics, and Mazgaon Dockyards. DIPAM is also working on OFS proposals which includes Indian Oil, Oil India, NHPC, and REC.

Not to mention, extra dividend from the PSUs in addition to disinvestment. With this, the slippage of the deficit could pretty much be negligible, provided there is no major gap in terms of GST collections. It will be interesting to see how the government approaches disinvestment in the coming months.

NMDC opened the day down by 3.5%.

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 Opens Higher; Coal India Rallies". Click here!


Stock Market Updates

J&K BANK Share Price Up by 8%; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:35 PM

J&K BANK share price is trading up by 8% and its current market price is Rs 32. The BSE BANKEX is up by 2.8%. The top gainers in the BSE BANKEX Index are J&K BANK (up 7.6%) and RBL BANK (up 5.2%).

RELIANCE IND. Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

Mar 3, 2021 03:27 PM

RELIANCE IND. share price is trading up by 5% and its current market price is Rs 2,216. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is RELIANCE IND. (up 5.1%). The top losers are PETRONET LNG (down 0.1%) and BPCL (down 0.4%).

AU SMALL FINANCE BANK at All Time High; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:23 PM

AU SMALL FINANCE BANK share price has hit an all time high at Rs 1,224 (up 4.2%). The BSE BANKEX Index is up by 2.8%. Among the top gainers in the BSE BANKEX Index today are AU SMALL FINANCE BANK (up 4.2%) and KOTAK MAHINDRA BANK (up 3.0%).

REDINGTON Share Price Down by 5%; BSE 500 Index Up 1.9% (Today's Market)

Mar 3, 2021 03:13 PM

REDINGTON share price is trading down by 5% and its current market price is Rs 200. The BSE 500 is up by 1.9%. The top gainers in the BSE 500 Index are IFCI (up 19.9%) and IDBI BANK (up 12.1%). The top losers are REDINGTON (down 5.1%) and SYMPHONY (down 5.1%).

RBL BANK Share Price Up by 5%; BSE BANKEX Index Up 2.7% (Today's Market)

Mar 3, 2021 03:09 PM

RBL BANK share price is trading up by 5% and its current market price is Rs 249. The BSE BANKEX is up by 2.7%. The top gainers in the BSE BANKEX Index are RBL BANK (up 5.0%) and FEDERAL BANK (up 5.7%).

Sensex Trades Over 500 Points Higher; Dow Futures Up by 147 Points (Today's Market)

Mar 3, 2021 12:30 pm

BSE Sensex is trading up by 586 points, while the NSE Nifty is trading up by 190 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms


Mar 3, 2021 (Close)