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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Sensex ends the week 2.2% higher 
(Fri, 3 Feb Closing) 
 
After hovering close to the dotted line for most part of today's session, the benchmark indices in Indian stock markets gained traction during the final hours. Buying interest in pharma, FMCG, power and engineering stocks helped the indices close firmly in the positive. While the BSE-Sensex closed higher by around 173 points (up 1%), the NSE-Nifty closed higher by around 56 points (up 1%). The BSE Mid cap and the BSE Small cap also did well to notch gains of 1.2% each.

As regards global markets, Asian indices closed firm today while European indices have also opened in the positive. The rupee was trading at Rs 48.7 to the dollar at the time of writing.

As the smaller telecom companies are still reeling under the Supreme Court verdict cancelling the new 2G telecom licences, it seems they are not the only ones to suffer. As per a business daily, public sector banks have an exposure of about Rs 100 bn in the telecom companies whose licences were cancelled by the Supreme Court in connection with 2G scam. However, of this exposure of Rs 75 bn is secured (against assets). Having said the PSU banks that are already burdened with restructured debt lent to agriculture and small industries will feel the pressure on provisions mounting. PSU bank stocks closed a mixed bag today after some correction seen yesterday.

Energy and environment solutions provider Thermax expects revenues to be impacted during FY13 due to sluggish growth in orders in key segments. The company, however, expects order bookings in steel, cement and oil & gas sectors to pick up in the second half of FY13. The entity, however, does not expect any traction from the power sector. Thermax, which depends on orders from capacity expansion in core industrial sectors for its revenue, had seen a sluggish trend in the finalization of orders during the September and December quarters. The order pipeline of the company is lumpy in nature considering the cyclicality factor involved. Apart from this, historically the book-to-bill ratio of the company has been in region of 0.8-1.2x.

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Jun 28, 2017 12:27 PM

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