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?  

No respite from selling pressure
Fri, 21 Jan Closing

Markets languished in the red throughout the trading session today. Although there were attempts to move into the positive these proved futile, as fresh bouts of selling activity pushed the indices lower. There was no respite in the final trading hour either as the indices closed below the dotted line. While the BSE-Sensex closed lower by around 39 points (down 0.2%), the Nse-Nifty closed lower by 15 points (down 0.3%). The BSE Midcap and the BSE Small cap, however, bucked the trend as they notched gains of 0.2% and 0.5% respectively. Losses were largely seen in IT, FMCG and metals stocks.

As regards global markets, most Asian indices closed mixed today, while European indices have opened in the positive. The rupee was trading at Rs 45.68 to the dollar at the time of writing.

ITC announced its 3QFY11 results a while ago. The company's top line grew by 18.6% YoY in 3QFY11, bolstered by a strong growth in FMCG (including cigarettes), hotels, paper and packaging and agriculture businesses. Operating (EBITDA) margins increased marginally as all costs remained flat (as a percentage of sales). The rise in raw material costs was offset by fall in other expenditure (both as a percentage of sales). Net profit grew by 21.4% YoY during the quarter. This increase was a result of growth in operating income, higher other income and fall in effective tax rate. Net profit growth could have been higher but for the increase in interest expense. For 9mFY11, ITC's net profits grew by 22.2% YoY, while net profit margins expanded by 1% to 23.9%. This performance came on the back of higher operating income, increase in other income, fall in interest costs, lower depreciation charges and lower effective tax rate. The stock closed lower today.

Private banking stocks closed mixed today. While ICICI Bank found favour, HDFC Bank and ING Vysya Bank closed in the red. ING Vysya Bank announced its 3QFY11 results. Net interest income increased by 12% YoY during the quarter. Net interest margin (NIMs) dipped from 3.4% in 3QFY10 to 3.1% in 3QFY11 despite higher proportion of CASA. The company's cost to income ratio increased from 58.3% in 3QFY10 to 61.4% in 3QFY11. Bottomline grew by 37% YoY due to a steep decline in provisioning costs. Net NPA ratio fell from 1.67% in 3QFY10 to 0.6% in 3QFY11. The capital adequacy ratio declined to 12.7% from 14.5% in 3QFY10.

There was some relief on the food inflation front. The wholesale price index for food was up 15.5% for the week ended January 8 from a year ago, down from 16.9% in the previous week. This is because prices of vegetables dropped for the first time in more than six weeks. The index for vegetables, the biggest contributor to the surge in food prices, dropped 3.6% during the week. That said, there was no respite from rising onion prices. The wholesale prices of onion almost doubled from the levels last year, climbing nearly 15% during the week. Indeed, India's overall inflation has refused to come down due to high food prices. This has put added pressure on RBI to continue with its policy tightening measures.

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 "No respite from selling pressure". Click here!

  

Stock Market Updates

Sensex Ends 441 Points Lower; Nifty Settles Below 15,000-Mark (Today's Market)

Mar 5, 2021 Closing

Indian share markets end lower with the Sensex down by 441 points and the Nifty ending down by 143 points.

GRINDWELL NORTON Share Price Down by 5%; BSE CAPITAL GOODS Index Down 1.5% (Today's Market)

Mar 5, 2021 03:30 PM

GRINDWELL NORTON share price is trading down by 5% and its current market price is Rs 950. The BSE CAPITAL GOODS is down by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 3.3%) and AIA ENGINEERING (up 0.3%). The top losers is GRINDWELL NORTON (down 5.1%).

ADITYA BIRLA CAPITAL Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:28 PM

ADITYA BIRLA CAPITAL share price is trading down by 5% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 7.3%) and MOTILAL OSWAL (up 5.9%). The top losers are ADITYA BIRLA CAPITAL (down 5.0%) and APOLLO HOSPITALS (down 5.2%).

HAVELLS INDIA Share Price Down by 5%; BSE CONSUMER DURABLES Index Down 0.7% (Today's Market)

Mar 5, 2021 03:20 PM

HAVELLS INDIA share price is trading down by 5% and its current market price is Rs 1,163. The BSE CONSUMER DURABLES is down by 0.7%. The top gainers in the BSE CONSUMER DURABLES Index are BLUE STAR (up 1.7%) and CROMPTON GREAVES CONSUMER ELEC. (up 1.3%). The top losers is HAVELLS INDIA (down 5.1%).

BALMER LAWRIE Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 5, 2021 03:18 PM

BALMER LAWRIE share price is trading down by 5% and its current market price is Rs 148. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.8%) and MOTILAL OSWAL (up 6.1%). The top losers are BALMER LAWRIE (down 5.0%) and APOLLO HOSPITALS (down 5.5%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.3% (Today's Market)

Mar 5, 2021 03:16 PM

TRENT share price is trading down by 5% and its current market price is Rs 936. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 6.6%) and MOTILAL OSWAL (up 6.1%). The top losers are TRENT (down 5.4%) and APOLLO HOSPITALS (down 5.5%).

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.

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

S&P BSE SENSEX


Mar 5, 2021 (Close)

MARKET STATS