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?  

Sensex Ends 226 Points Higher; Capital Goods and Banking Stocks Witness Buying
Fri, 24 Jan Closing | Monish Vora, TM Team

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!


Indian share markets ended their trading session on a positive note today.

At the closing bell, the BSE Sensex stood higher by 226 points (up 0.6%) and the NSE Nifty closed higher by 67 points (up 0.6%).

The BSE Mid Cap index ended up by 0.8% and the BSE Small Cap index ended the day up by 0.5%.

On the sectoral front, gains were seen in the banking sector and capital goods sector.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.15% and the Nikkei was trading up by 0.13%, while the Shanghai Composite was trading down by 2.75%.

European markets were trading on a positive note. The FTSE 100 was up by 1.73%. The DAX was trading up by 1.37%, while the CAC 40 was trading up by 1.38%.

The rupee was trading at 71.33 to the US$ at the time of writing.

Speaking of the Indian economy and Indian share markets, Ankit wrote to you about a recent upcoming IPO. It's a company profiting from two megatrends - digitisation and financialisation - in the Indian economy.

Have a look at the chart below. A quick comparison of assets under management (AUM) of mutual funds in India versus abroad will give you a clear idea of the huge megatrend.

Mutual Funds: Megatrend of the decade?

India's mutual fund AUM as a percentage of GDP is 11%. This is far lower than the world average of 55%.

--- Advertisement ---

Rebirth of India - Claim Your Free Report

Our special report, Rebirth of India: The First Step to the Biggest Investing Opportunity of Your Lifetime, will help you get started in your journey to potentially create huge wealth from the Rebirth of India.

To claim this report free, just confirm your participation at our online MEGA Summit where we will reveal full details about our Rebirth of India project...

Including details of 7 specific stocks that we believe are best poised to ride this coming boom in wealth creation.

Click here to join this FREE MEGA Summit
------------------------------

Here's what Tanushree Banerjee wrote about it in a recent edition of The 5 Minute WrapUp...

  • I strongly believe, the next decade could be the decade of financialisation in India.

    Traditionally, Indian households have preferred to invest in physical assets like real estate but things are changing.

    Indians now are more open to investing in financial assets like mutual funds. Better awareness, financial education, increasing urbanisation are all driving this change.

    Mutual fund AUM grew 24% annually in the last 5 years. I expect India's GDP to grow at 6-7% over the next decade.

Just combine these growth rates and you can see the massive growth opportunity.

Moving on to news from the macroeconomic space, as per a leading financial daily, India is likely to fund roughly US$ 28 billion of its expenditure outlay in its budget for fiscal 2020-21 via off-budget borrowings as it seeks to revive a sagging economy while keeping its fiscal deficit in check.

This comes as Prime Minister Narendra Modi's government is under pressure to increase spending on rural welfare schemes and infrastructure to boost growth that has fallen for six straight quarters.

Off-budget borrowings are a means by which the government keeps its fiscal deficit in check by making quasi-government entities borrow on its behalf, to partly fund its expenditure plan for the year.

The news state that this would mark a roughly 13.8% increase in so-called off-budget borrowings from an estimated 1.75 trillion rupees (US$24.6 billion) in the ongoing fiscal year.

Finance Minister Nirmala Sitharaman, who will deliver the budget speech on 1st February, is widely expected to announce stimulus measures for small businesses and non-banking finance companies as a cut in corporate tax rates and rate cuts by the central bank have failed to revive growth.

It would be interesting to see how these numbers and estimates show up in the budget announcement. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

The upcoming budget would play a critical role in shaping the investment trend.

In the below video, Tanushree Banerjee tells how you should react to the biggest economic event of the year - the Union Budget which is going to be announced in a few days.

Watch now to know more...

Apurva Seth, editor of Breakout Profits (requires subscription), has also written about the budget in today's edition of Profit Hunter. You can read the same here: Will the Budget Disappoint the Markets?

In news from the cement sector, UltraTech Cement share price was in focus today as the company posted 48.64% year-on-year (YoY) rise in standalone profit at Rs 6.4 billion for December quarter.

Revenue came in almost flat at Rs 99.8 billion against Rs 99.4 billion reported in the same quarter last year.

On a consolidated basis, the company posted 88.98% YoY rise in consolidated profit at Rs 7.1 billion. Revenue stood almost flat at Rs 103.5 billion against Rs 104.4 billion in the corresponding quarter last year.

During the quarter, the company's wholly-owned subsidiary UltraTech Cement Middle East Investments divested its entire shareholding in Emirates Cement Bangladesh and Emirates Power Company to Heidelberg Cement Bangladesh for US$ 30.2 million and included the gain on divestment of Rs 89.6 million in other income.

The company believes that signs of revival were visible in some key regions during the latter part of Q3FY20.

The company in a regulatory filing said that this, together with the government's firm commitment to revive the economy and the thrust on infrastructure spending augur well for the growth of cement demand.

It added that UltraTech is best positioned to take advantage of the revival in cement demand, despite the anomalies that may get created in demand patterns in some parts of the country due to extraneous reasons.

The company believes that demand is expected to grow in line with the GDP rate. Any pick-up in urban housing demand, liquidity improvement, fund allocation from central and state government should be watched going ahead.

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

Equitymaster requests your view! Post a comment on "Sensex Ends 226 Points Higher; Capital Goods and Banking Stocks Witness Buying". Click here!

  

Stock Market Updates

GRANULES INDIA at 52 Week High; BSE 500 Index Down 0.3 % (Today's Market)

Feb 18, 2020 03:34 PM

GRANULES INDIA share price has hit a 52-week high. It is presently trading at Rs 180. BSE 500 Index is down by 0.3% at 15,684. Within the BSE 500, GRANULES INDIA (up 2.3%) and TV18 BROADCAST (up 14.9%) are among the top gainers, while top losers are BHARTI INFRATEL and VODAFONE IDEA.

CARE RATING Plunges by 5%; BSE 500 Index Down 0.3% (Today's Market)

Feb 18, 2020 03:32 PM

CARE RATING share price has plunged by 5% and its current market price is Rs 515. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are TV18 BROADCAST (up 14.9%) and JAIPRAKASH ASSO. (up 9.9%). The top losers are CARE RATING (down 5.2%) and TORRENT POWER LTD (down 5.9%).

BEML LTD. Plunges by 5%; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Feb 18, 2020 03:30 PM

BEML LTD. share price has plunged by 5% and its current market price is Rs 915. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 3.0%) and SCHAEFFLER INDIA LTD (up 2.9%). The top losers are BEML LTD. (down 5.1%) and SADBHAV ENGINEERING (down 7.9%).

ESCORTS LIMITED at 52 Week High; BSE 500 Index Down 0.4 % (Today's Market)

Feb 18, 2020 03:28 PM

ESCORTS LIMITED share price has hit a 52-week high. It is presently trading at Rs 896. BSE 500 Index is down by 0.4% at 15,684. Within the BSE 500, ESCORTS LIMITED (up 1.1%) and TV18 BROADCAST (up 14.5%) are among the top gainers, while top losers are VODAFONE IDEA and BHARTI INFRATEL.

ABBOTT INDIA Surges by 5%; BSE HEALTHCARE Index Down 0.0% (Today's Market)

Feb 18, 2020 03:18 PM

ABBOTT INDIA share price has surged by 5% and its current market price is Rs 15,441. The BSE HEALTHCARE is down by 0.0%. The top gainers in the BSE HEALTHCARE Index is ABBOTT INDIA (up 5.1%). The top losers are THYROCARE TECHNOLOGIES (down 0.5%) and BLISS GVS PHARMA (down 0.5%).

Sensex Slips 400 Points; IndusInd Bank & Tata Steel Top Losers (Today's Market)

Feb 18, 2020 12:30 pm

The BSE Sensex is trading down by 396 points, while the NSE Nifty is trading down by 122 points.

View More Indian Share Market News

Most Popular

Buy this 'Crorepati Stock' and You Could End Up Stinking Rich(Profit Hunter)

Feb 5, 2020

I'm talking about an individual small cap stock that could go up so many times that they make their investors stinking rich in the process. You definitely want to know more...

This Smallcap Stock Could be the Next Titan (Up 1,400% in 10 Years)(Profit Hunter)

Feb 11, 2020

A blueprint to latch on to the next 'Crorepati' stock - and an event I hope you won't miss on any account.

Will Your Trade Go Up or Down Today?(Fast Profits Daily)

Feb 5, 2020

How you can find out which way your trade is likely to move on any given trading day.

Will Algo Traders Take Away All Your Profits?(Fast Profits Daily)

Feb 11, 2020

How to fight back against algo trading systems.

No Change in My Long-Term View on the Rebirth of India Stocks(The 5 Minute Wrapup)

Feb 6, 2020

Why the recent post budget volatility has not affected my bullish view on the Rebirth of India stocks.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, 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


Feb 18, 2020 (Close)

MARKET STATS