X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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?  

Of Sensex Touching Record Highs, Rally in Banking Stocks and Key Stocks in Action Today
Fri, 19 Jan Pre-Open | Karan Janani, TM Team

Sensex Touches Record High of 35,000

BSE Sensex is on a roll. The index touched a record high of 35,000 on Wednesday and further inched upwards to end yesterday's trade at a level of 35,260. Considering a span of one year, the benchmark index has delivered a 30% return. Such superior returns within a short span have occurred after almost two decades. So, this is historic.

BSE SmallCap and BSE MidCap index too have delivered mind-boggling returns in the preceding year. Both the indices have shot up by 53.8% and 41.5% respectively.

The index has surged mainly on the back of huge domestic inflows coming into mutual funds. Apart from this, an expected recovery in the earnings too has fueled a hope rally in the benchmark index.

Given the sharp surge, the Sensex price/ earnings (P/E) ratio has risen to 25.8 times. This is way ahead as compared to the ten-year median price/earnings (P/E) ratio of 19.6 times. This ratio indicates that the benchmark index could well be in a bubble territory (subscription required) as of now.

The benchmark index lost around 4000 points within a quick span of one month during the 2008 financial crisis. At that time, the benchmark index was trading at a P/E ratio of around 28 times.

Subdued earnings have led to the P/E ratio remaining high. It's high time that corporate earnings catch up to the market's expectation. In-case they don't, a crash as seen in the earlier years cannot be ruled out.

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.

Rally in Banking Stocks

The rally in the stocks in the private banking space continued yesterday. The government is considering allowing 100% FDI in private banks and 49% in public sector banks. The move could pave the way for higher foreign flows in banks.

Stocks such as HDFC Bank, Kotak Bank and IndusInd Bank shot up by 2.1%, 1.8% and 1.4% respectively.

Key Stocks in Action Today

The heavyweights such as ITC, HDFC Bank, Reliance Industries, Kotak Bank, HCL Tech, Wipro are expected to be in the news today as they declared their results for the quarter ended December 2018.

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

Equitymaster requests your view! Post a comment on "Of Sensex Touching Record Highs, Rally in Banking Stocks and Key Stocks in Action Today". Click here!

  

Stock Market Updates

GE POWER INDIA LTD Surges by 5%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Oct 16, 2018 03:34 PM

GE POWER INDIA LTD share price has surged by 5% and its current market price is Rs 824. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index are GE POWER INDIA LTD (up 5.0%) and FINOLEX CABLES (up 9.9%). The top losers are SCHAEFFLER INDIA LTD (down 0.1%) and CG POWER & INDUSTRIAL SOLUTIONS LTD (down 0.1%).

INDIABULLS HOU. FIN. Plunges by 5%; BSE 500 Index Up 0.9% (Today's Market)

Oct 16, 2018 03:34 PM

INDIABULLS HOU. FIN. share price has plunged by 5% and its current market price is Rs 977. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 16.8%) and FINOLEX CABLES (up 9.9%). The top losers are INDIABULLS HOU. FIN. (down 5.0%) and TATA COMM. (down 5.6%).

FINOLEX CABLES Surges by 10%; BSE CAPITAL GOODS Index Up 1.3% (Today's Market)

Oct 16, 2018 03:22 PM

FINOLEX CABLES share price has surged by 10% and its current market price is Rs 532. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index is FINOLEX CABLES (up 10.3%). The top losers are CG POWER & INDUSTRIAL SOLUTIONS LTD (down 0.2%) and CARBORUNDUM UNIVERSAL (down 0.7%).

TATA ELXSI Surges by 5%; BSE IT Index Up 0.5% (Today's Market)

Oct 16, 2018 02:54 PM

TATA ELXSI share price has surged by 5% and its current market price is Rs 1,040. The BSE IT is up by 0.5%. The top gainers in the BSE IT Index is TATA ELXSI (up 5.2%). The top losers are INFOSYS LTD and HCL TECH.

CENTURY PLYBOARDS Surges by 12%; BSE 500 Index Up 0.9% (Today's Market)

Oct 16, 2018 02:46 PM

CENTURY PLYBOARDS share price has surged by 12% and its current market price is Rs 201. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are CENTURY PLYBOARDS (up 12.0%) and HEG LTD (up 10.5%). The top losers are COROMANDEL INTERN. and JSW STEEL .

Indian Indices Trade Strong; Capital Goods Stocks Lead Gains (Today's Market)

Oct 16, 2018 12:30 pm

The BSE Sensex is trading up by 198 points, while the NSE is trading up by 50 points.

View More Indian Share Market News

Most Popular

Don't Panic in This Falling Market... Do This Instead(The 5 Minute Wrapup)

Oct 5, 2018

Find companies with long term durable moats, which are correcting with the current broader market sell-off.

Why You Should Be Excited, Not Sad, About the 30% Small Cap Crash(Profit Hunter)

Oct 4, 2018

Smallcaps have corrected over 30% since the beginning of the year. Find out why Richa Agarwal views this as an opportunity rather than a threat.

Taxpayers to pay salaries of CEOs/CIOs of Mutual Funds(The Honest Truth)

Oct 5, 2018

Ajit Dayal on the crisis in the market and in the mutual fund industry.

Why Are Investors In Sundaram Small Cap Fund Anxious(Outside View)

Oct 3, 2018

A small cap fund that aims to capitalise on emerging businesses and catch them young. However, its failure in keeping volatility under check is making its investors anxious.

Biggest Corrections in the Stock of Infibeam Avenues(Chart Of The Day)

Oct 3, 2018

Infibeam plunged over 70% last week. This was the second biggest single-day fall. But Infibeam witnessed such sharp falls earlier.

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Oct 16, 2018 (Close)

MARKET STATS