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?  

Earnings, global cues affect sentiment
Wed, 20 Jan Closing

After starting off with reasonable gains in the early session, the benchmark Indian indices kept oscillating to either side of yesterday's close post noon. As the earnings reports of heavyweights in India Inc kept trickling in, selling activity intensified in the later hours. It finally caused the indices to close in the red. While the BSE Sensex closed lower by around 128 points (down 0.2%), the NSE Nifty lost around 4 points (down 0.1%). Midcap stocks were also at the receiving end, losing 0.4% while smallcaps ended flat. Losses were largely seen in IT, realty and energy stocks.

As regards global markets, while most Asian markets closed lower today, the European markets have also opened in the red. The rupee was trading at Rs 45.87 to the dollar at the time of writing.

The largest mortgage financer in the country, HDFC, announced its third quarter and nine month ended December 2009 results today. The institution grew its advances by 18% YoY during 9mFY10. These were on the back of 22% YoY growth in approvals and 23% YoY growth in disbursements. The gross and net NPAs remained at 0.6% and 0.2% respectively. The provision coverage ratio was 75%. Profits grew by 23% for both the quarter and the full year periods.

In what came as a relief to power equipment manufacturers in the country, the government has ensured that all the orders for future power projects comes to them, instead of going to foreign vendors. The government has approved a provision requiring such plants that will be awarded in the future to use local power generation equipment. The move, which is expected to provide a fillip to domestic manufacturing, comes after some serious lobbying by local power equipment makers. The decision on the ultra mega power plants or UMPPs will benefit domestic power generation equipment manufacturers such BHEL and L&T. Indian power equipment manufacturers had complained to the government against imports of power equipment from China, where manufacturers benefit from low interest rates and an undervalued currency which makes exports competitive.

Dr. Reddy's announced its 3QFY10 results a short while ago. Revenues during the quarter declined by 6% YoY largely due to 55% fall in revenues from North America. This was largely due to the absence of any 180-day exclusivity during the quarter, while the company had received the exclusivity window for the blockbuster drug 'Imitrex' in 3QFY09. A sharp fall in raw material costs and other expenses (as percentage of sales) led to the 3.3% improvement in operating margins during the quarter. Profit before tax grew by an impressive 33% YoY due to a considerable reduction in interest costs. There was a loss at the net level to the tune of Rs 2.3 bn on account of impairment of intangible assets and goodwill related to Betapharm. On excluding the same, net profits grew by 42% YoY. The stock closed higher by 3% on the bourses today.

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 "Earnings, global cues affect sentiment". Click here!


Stock Market Updates

Sensex Trades Over 200 Points Higher; Dow Futures Up by 37 Points (Today's Market)

Mar 8, 2021 12:30 pm

BSE Sensex is trading up by 214 points, while the NSE Nifty is trading up by 76 points.

Indian Share Markets Open Higher; GAIL & ONGC Surge 5% (Today's Market)

Mar 8, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 363 points, while the Nifty is trading higher by 112 points.

ONGC at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:40 AM

ONGC share price has hit a 52-week high. It is presently trading at Rs 121. BSE 500 Index is up by 0.7% at 20,123. Within the BSE 500, ONGC (up 5.2%) and BEML (up 13.1%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

GRINDWELL NORTON at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:38 AM

GRINDWELL NORTON share price has hit a 52-week high. It is presently trading at Rs 975. BSE 500 Index is up by 0.8% at 20,123. Within the BSE 500, GRINDWELL NORTON (up 5.5%) and BEML (up 11.8%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

ASTRAL POLY TECHNICK at All Time High; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Mar 8, 2021 09:36 AM

ASTRAL POLY TECHNICK share price has hit an all time high at Rs 2,332 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.4%. Among the top gainers in the BSE CAPITAL GOODS Index today are ASTRAL POLY TECHNICK (up 3.6%) and HONEYWELL AUTOMATION (up 2.5%). The top losers include KALPATARU POWER (down 0.8%).

BEML Share Price Up by 12%; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Mar 8, 2021 09:36 AM

BEML share price is trading up by 12% and its current market price is Rs 1,311. The BSE CAPITAL GOODS is up by 1.4%. The top gainers in the BSE CAPITAL GOODS Index is BEML (up 11.7%). The top losers is KALPATARU POWER (down 0.8%).

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.

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...

Gold 65,000 and Silver 84,000 in 2022

Feb 26, 2021

In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot more.


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 8, 2021 (Close)