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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Sensex closes flat for the week 
(Fri, 25 Jan Closing) 
 
With gains intensifying, indices in the Indian stock market inched higher further and closed the day strongly in the positive. Thus, while BSE-Sensex edged higher by around 180 points (up 0.9%), gains on the NSE-Nifty came in at around 55 points. BSE Mid Cap and BSE Small Cap also joined in the buying spree, closing higher by 1.8% and 1% each respectively. Nearly three stocks gained for every stock that closed the day in the negative on the Sensex.

While most Asian stocks closed positive today, Europe too is trading in the green currently. The rupee was trading at Rs 53.9 to the dollar at the time of writing.

Even though the Sensex closed higher today, it is flat for the week. Investors seem reluctant to commit large funds till there is some clarity on the policy front. If the RBI does manage to lower rates in its monetary policy review next week, we could well see fresh round of buying. At around 18 times its trailing twelve month earnings, we don't think the Sensex is trading at expensive levels and there are still quite a few good stocks out there trading at attractive valuations from a long term perspective. Thus, if one is a long term investor, waiting for things like monetary policy review before pulling the trigger does not make much sense as per us.

Maruti Suzuki, India's largest passenger vehicles manufacturer closed buoyant on the bourses today as it gained nearly 4%. This was on the back of strong numbers posted by the company during December 2012 quarter. The company witnessed an impressive bottomline growth of around 144% on the back of a 45% growth in topline and 26% growth in vehicles sold. The growth in net sales came about on the back of higher volumes, favourable model mix and enhanced realisations on the export front. Its operating margins also improved admirably, inching to 8% from 5.2% a year ago. Its nine monthly performance also improved with bottomline growing by 16% on the back of a 27% YoY growth in topline.

Biocon Ltd, India's largest biotech firm today said that it plans to launch skin disease drug under the brand Alzumab in India in the current calendar year and hopes to achieve sales of Rs 1 bn over the next few years. As per the company's own admission, it took Rs 1 bn for Biocon to get the drug ready and the company is hopeful of recovering the money back. The global market for Psoriasis is believed to be in the region of US$ 8 bn by 2016. The stock closed higher by more than 1% on the bourses today.

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Sep 20, 2017 (Close)

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