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?  

Energy stocks lead the decline
Tue, 2 Feb 11:30 am

The Indian markets shed a substantial part of their early morning gains during the previous two hours of trade. While metal and realty stocks continue to attract investors’ interests, stocks from the banking and oil and gas space were responsible for the fall during the early session.

While the BSE Sensex is trading higher by 20 points (or 0.3%), the NSE Nifty is marginally down by 5 points (or 0.1%). The BSE-Midcap and BSE-Smallcap are also trading higher by 1% and 1.8% respectively. The rupee is trading at 46.24 to the dollar.

Power stocks are currently trading firm led by CESC, Torrent Power and Tata Power. Power major, NTPC announced its 3QFY10 results recently. The company’s revenues for the quarter fell by 1% YoY. This was on the back of lower realisations, which were seemingly on the back of passing on the lower fuel costs to its customers. However, these lower fuel costs helped the company expand its operating margins, and hence record a good operating performance. During the quarter, the operating margins stood at 30.1%, higher by 1.6% YoY. Apart from lower fuel costs, lower staff costs (both as percentage of sales) aided the margins as well. These factors led to a 5% YoY increase in operating profits. The growth at the bottomline level stood at 5% YoY as well. As for the performance during 9mFY10, the topline and bottomline were higher by 12% YoY and 10% YoY respectively. During the quarter, NTPC commissioned a 490 MW capacity plant at Dadri (UP), which increased its total generation capacity to above 31,000 MW by the end of December 2009.

Cement manufacturers have reported good set of numbers for the quarter ended December, 2009. The growth has been driven by driven by increased demand from housing sector, especially of low-cost homes, and infrastructure. Generally, cement sales start picking up from January and the peak period ends with the arrival of the monsoons in June. While the industry is likely to report double digit volume growth of 10% in FY11, upcoming capacities are likely to exert pressure on margins. The industry capacity in FY09 was 204.8 m tones. By the end of FY10, the industry capacity is expected to reach size of 270 MT, an addition of nearly 65 MTPA. However, the annual demand is expected to rise by 20 MTPA to 198 MT and in FY11 it is expected to be 220 MT.  Thus, the cement industry is likely to witness an excess capacity scenario in the medium term, which will impact realization and growth in earrings of the cement manufacturers.

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 "Energy stocks lead the decline". Click here!


Stock Market Updates

TATA MOTORS Share Price Up by 5%; BSE AUTO Index Up 3.2% (Today's Market)

Mar 2, 2021 02:11 PM

TATA MOTORS share price is trading up by 5% and its current market price is Rs 346. The BSE AUTO is up by 3.2%. The top gainers in the BSE AUTO Index are TATA MOTORS (up 5.3%) and M&M (up 5.7%).

TRENT Share Price Up by 11%; BSE 500 Index Up 0.8% (Today's Market)

Mar 2, 2021 02:11 PM

TRENT share price is trading up by 11% and its current market price is Rs 920. The BSE 500 is up by 0.8%. The top gainers in the BSE 500 Index are TRENT (up 10.6%) and BASF INDIA (up 12.1%). The top losers are CRISIL and BAYER CROPSCIENCE .

JAIN IRRIGATION Share Price Up by 8%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Mar 2, 2021 02:11 PM

JAIN IRRIGATION share price is trading up by 8% and its current market price is Rs 20. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index are JAIN IRRIGATION (up 8.2%) and NBCC (INDIA) (up 6.0%). The top losers are CARBORUNDUM UNIVERSAL (down 1.4%) and GRAPHITE INDIA (down 2.0%).

ADANI GAS Share Price Up by 10%; BSE 500 Index Up 0.9% (Today's Market)

Mar 2, 2021 01:55 PM

ADANI GAS share price is trading up by 10% and its current market price is Rs 585. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are ADANI GAS (up 10.5%) and BASF INDIA (up 10.2%). The top losers are MAHARASHTRA SEAMLESS and TAMIL NADU NEWSPRINT .

IFCI Share Price Up by 13%; BSE 500 Index Up 0.6% (Today's Market)

Mar 2, 2021 01:06 PM

IFCI share price is trading up by 13% and its current market price is Rs 11. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are IFCI (up 12.6%) and SYMPHONY (up 17.1%). The top losers are PRESTIGE ESTATES and TV TODAY NETWORK .

Sensex Opens 450 Points Higher; BPCL Jumps 4% (Today's Market)

Mar 2, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 481 points, while the Nifty is trading higher by 137 points.

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.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

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...


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 2, 2021 02:08 PM