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Markets will remain closed on 10th April, 2020 on account of Good Friday.

Sensex Ends 336 Points Lower; Power and FMCG Stocks Witness Selling
Wed, 23 Jan Closing | Monish Vora, TM Team

Share markets in India witnessed selling pressure during closing hours and ended their trading session on a negative note. Sectoral indices ended on a negative note with stocks in the power sector and FMCG sector witnessing most of the selling pressure.

At the closing bell, the BSE Sensex stood lower by 336 points (down 0.9%) and the NSE Nifty closed down by 91 points (down 0.8%). The BSE Mid Cap index ended the day down 0.3%, while the BSE Small Cap index ended the day down by 0.2%.

The rupee was trading at 71.32 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.01% and the Shanghai Composite was up by 0.1%. The Nikkei 225 was down 0.1%.

Speaking of Indian share markets, as can be seen in the chart below, there has been a steady rise in direct participation by Indians in stock markets.

Direct Participation in Stock Markets is Growing Steadily

This increased participation has resulted in not just money flowing into mutual funds, but also in the opening of demat accounts.

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In fact, the attractiveness of Indian equities and the fact that investing in demat accounts is now very easy has led to a steady rise in accounts.

What more, this trend is all set to continue, as the Indian stock markets scale new highs in the coming years.

In the news from the FMCG space, ITC share price was in focus today as the company reported 3.9% year-on-year (YoY) rise in its standalone profit at Rs 32 billion for the December quarter. The company had reported Rs 30 billion profit in December quarter of the previous fiscal.

Net sales for the quarter came in at Rs 114 billion against Rs 99 billion in the corresponding quarter last year.

Other income for the quarter rose to Rs 8.3 billion from Rs 6.4 billion in the year-ago quarter.

Market participants were closely tracking the stock of the company on the back of above development.

From the banking sector, Bank of Maharashtra share price was also in focus today as the lender reported a loss of Rs 37.6 billion for December quarter. The loss was led by Rs 44.2 billion provisions and contingencies it made during the quarter.

The loss was six times higher than Rs 5.9 billion loss the lender had reported in the year-ago quarter.

You can also read our analysis of some recently released Q3FY19 results: Zee Entertainment's latest result analysis, Federal Bank, Infosys, TCS, Trident, HDFC bank, NIIT Technologies, Cyient.

In the news from global financial markets, the Bank of Japan cut its inflation forecasts today and warned of rising risks to the economy from faltering global demand.

As expected, the central bank retained its ultra-easy monetary settings at its policy review.

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


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Stock Market Updates

VOLTAS Surges by 6%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Apr 9, 2020 03:33 PM

VOLTAS share price has surged by 6% and its current market price is Rs 515. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are VOLTAS (up 6.0%) and HEG (up 10.0%). The top losers are THERMAX (down 0.6%) and KALPATARU POWER (down 0.6%).

MARUTI SUZUKI Surges by 13%; BSE AUTO Index Up 10.2% (Today's Market)

Apr 9, 2020 03:33 PM

MARUTI SUZUKI share price has surged by 13% and its current market price is Rs 5,399. The BSE AUTO is up by 10.2%. The top gainers in the BSE AUTO Index are MARUTI SUZUKI (up 12.9%) and MRF LTD. (up 5.2%).

LUPIN Surges by 13%; BSE HEALTHCARE Index Up 3.4% (Today's Market)

Apr 9, 2020 03:33 PM

LUPIN share price has surged by 13% and its current market price is Rs 798. The BSE HEALTHCARE is up by 3.4%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 12.7%) and DIVIS LABORATORIES (up 6.2%). The top losers are J.B.CHEMICALS (down 0.2%) and PROCTER & GAMBLE HEALTH (down 1.2%).

TATA ELXSI Surges by 11%; BSE IT Index Up 1.6% (Today's Market)

Apr 9, 2020 03:29 PM

TATA ELXSI share price has surged by 11% and its current market price is Rs 712. The BSE IT is up by 1.6%. The top gainers in the BSE IT Index are TATA ELXSI (up 11.1%) and FIRSTSOURCE SOL. (up 12.2%). The top losers is TECH MAHINDRA (down 2.4%).

TITAN Surges by 12%; BSE 500 Index Up 3.8% (Today's Market)

Apr 9, 2020 03:29 PM

TITAN share price has surged by 12% and its current market price is Rs 1,040. The BSE 500 is up by 3.8%. The top gainers in the BSE 500 Index are TITAN (up 12.5%) and MARUTI SUZUKI (up 14.1%). The top losers are BLUE DART EXPRESS and UPL .

Sensex Zooms 1,000 Points; Hero MotoCorp & Bajaj Auto Surge Over 9% (Today's Market)

Apr 9, 2020 12:30 pm

The BSE Sensex is trading up by 1,035 points, while the NSE Nifty is trading up by 297 points.

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Apr 9, 2020 (Close)

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