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 Plummets 300 Points in Opening Session; Consumer Durables & Realty Stocks Fall
Fri, 2 Feb 09:30 am | Rini Mehta, TM Team

Asian stocks are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1.30% while the Hang Seng is down 0.19%. The Shanghai Composite is trading down by 0.3%. Meanwhile, wall Street stocks gave up early gains on Thursday as bond yields rose and technology stocks retreated ahead of a host of high-profile earnings.

Back home, India share markets plunged in the opening trade after Finance Minister Arun Jaitley proposed a long-term capital gains tax. The BSE Sensex is trading lower by 253 points while the NSE Nifty is trading lower by 69 points. The BSE Mid Cap index and BSE Small Cap index opened the day down by 1.3% & 1.4% respectively.

Barring FMCG stocks and information technology stocks, all sectoral indices have opened the day in red with consumer durables stocks and realty stocks witnessing maximum selling pressure. The rupee is trading at 63.61 to the US$.

Retailing stocks have opened the day on a negative note with only Shoppers Stop and Future Enterprises trading in green. Tata group firm Titan Company reported on Thursday a 21.3% increase in consolidated net profit to Rs 2.81 billion for the third quarter ended 31 December 2017.

The company had posted a net profit of Rs 2.3 billion in the same period last fiscal.

Further, total income during the quarter under review stood at Rs 43 billion. It had reported a total income of Rs 40 billion in the year-ago period.

Sales at Titan's jewellery business segment, retailed mainly under the Tanishq brand name, were up 8% at Rs 35.7 billion. That growth rate is slower on a sequential basis, though, with the segment having grown 36.9% in the July-September quarter.

Titan's watches segment earned revenue of Rs 5.4 billion in the third quarter, a growth of 4.5% over the same period last year. But the company said those numbers were not comparable as its income included excise duty last year as compared with the goods and services tax (GST) this year.

Revenue at its eyewear division-retailed under the Titan EyePlus brand-declined marginally to Rs 903.7 million during the quarter from Rs 906.5 billion a year ago.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Titan opened 166 new stores in the nine months to December, taking its store count to 1,439 as of 31 December 2017.

Titan share price opened the day down by 2.9%.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Lupin has received final nod from the US health regulator to market its Clobetasol Propionate cream used for the treatment of various skin conditions.

The United States Food and Drug Administration (USFDA) granted the final approval to market its generic Clobetasol Propionate cream USP, 0.05%. The company's product is a generic version of Fougera Pharmaceuticals Inc's Temovate cream.

Even as pharma companies reel under the regulatory crackdown in the largest export market in the US, there has been no succour from the domestic markets. The growth in the Indian pharmaceutical market almost halved to 5.5% in 2017. Only 3,932 brands were launched in 2017. This is the lowest since 2013.

The leading therapy segments in terms of brand launches were dermatology, anti-infectives, cardiology, and gastroenterology. Anti-diabetics have also been growing in double-digits for the past five years.

However, with the government bringing a number of essential drugs under price control, prescription drugs are witnessing sluggish growth. Therefore, pharma companies are now focusing on the over-the-counter (OTC) medicines.

Domestic Pharma Market in a slow lane

As per the Nicholas Hall 2017 report, the OTC market is expected to grow at a compounded annual growth rate of 9% and reach US$ 6.5 billion by 2026. So, medication such as dermatology, vitamins, and pain & analgesics have gained centre stage, where most brand launches are taking place.

Recently, Lupin forayed into the OTC segment after it re-launched Softovac, its more than three-decades-old brand. Torrent Pharma has acquired Unichem Lab's domestic business which has popular OTC brands such as Unienzyme.

Thus, while pricing controls keep the operating environment tough in the domestic market, pharma companies with strong brands in the OTC category are better placed to ride the slowdown.

Lupin share price opened the day up by 0.4%.

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 "Sensex Plummets 300 Points in Opening Session; Consumer Durables & Realty Stocks Fall". Click here!

  

Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 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...

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 2, 2021 (Close)

MARKET STATS