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?  

Indices lose momentum in final hour
Mon, 4 Feb Closing

The Indian stock markets started the day on a positive note, but this momentum did not last throughout the session. Profit booking took toll and wiped out the gains in the final hours of trade. The BSE-Sensex closed in the negative, lower by around 30 points (0.15%). The NSE-Nifty closed lower by around 12 points (down 0.2%). The smaller indices had a much worse day on the bourses. The BSE Mid Cap index and the BSE Small Cap 0.8% and 0.7% lower respectively. Most sectoral indices closed in the red today with PSU banks and healthcare leading the losses. On the other hand only auto stocks closed positive.

As regards global markets, Asian indices had a mixed outing today. European indices also opened the day on a mixed note. The rupee was trading at Rs 53.19 to the dollar at the time of writing.

The Indian government is expected to spend Rs 368 bn on IT products and services in 2013, a 10.5% increase over the Rs 333 bn spent in 2012, according to research firm Gartner. This includes spending by government organizations on internal IT (including personnel), hardware, software, external IT services and telecommunications. Telecommunications, which includes telecom and networking equipment and services, is expected to remain the largest overall spending category and is expected to grow 6.8% in 2013 to reach Rs 118 bn in 2013, up from Rs 111 bn in 2012. The software sector is expected to register the highest growth rate of IT spends, increasing 18% in 2013, led by investments in desktop software and infrastructure software. The government aims to invest more than Rs 200 bn in expanding broadband penetration. The electronic chip making project, digitisation of academic databases across educational institutions, vehicle registrations, driving licence databases etc are all expected to be major focus areas. The IT sector is expected to indirectly benefit from government projects like Unique Identification Authority of India (UIDAI), launch of the National Optical Fibre Network and computerisation of commercial taxes in states. Mindtree and Tata Consultancy Services (TCS) have been seeing some project wins in this space.

Leading financier in the infrastructure space Infrastructure Development Finance Company (IDFC) announced its results for the 9 month period ended December '2012. Its consolidated income from operations grew 31% YoY in 3QFY13 and by 28% YoY in 9mFY13, on the back of 22% YoY growth in advances. Disbursements increased by 4.5% YoY, but sanctions fell by 13% YoY in 9mFY13 on account of a slowdown in infrastructure activity. However, cumulatively sanctions were up by 12% YoY. Overall asset management revenues were flat in 9mFY13, total asset under management (AUM) stands at Rs 298 bn at the end of December 2012. While the mutual fund contributed to some of the growth, fees from the alternatives business faltered. Net interest margins (NIM) decreased marginally to 4.2% from 4.3% earlier. Other income saw an almost 89% fall YoY in 3QFY13 and an 80% fall YoY in 9mFY13, on account of the sale of a stake in IDFC Asset Management Company seen in the previous quarter last year. Bottom-line grew by 19% YoY in 3QFY13 and by 7.5% in YoY 9mFY13 on the back of higher net interest income but lower other income made profit growth seem relatively muted. The capital adequacy ratio stood at a robust 22.5% at the end of 9mFY13 (Tier-1 ratio of 20.2%). Continued thrust on government reforms and speedier implementation will help spur growth for IDFC going forward.

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 "Indices lose momentum in final hour". Click here!

  

Stock Market Updates

Sensex Zooms 1,030 Points, Nifty Tops 14,980-Mark; HDFC Bank Among Top Gainers (Today's Market)

Feb 24, 2021 Closing

Indian share markets witnessed huge buying interest during the extended closing hours today and ended their day on a strong note.

Sensex Rises 477 Points; Trading Resumes on NSE (Today's Market)

Feb 24, 2021 Special Update

The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Feb 24, 2021 02:54 PM

SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Up 0.5% (Today's Market)

Feb 24, 2021 02:36 PM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).

ZENSAR TECHNOLOGIES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Feb 24, 2021 01:02 PM

ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.

Sensex Trades Over 200 Points Higher; Dow Futures Down by 103 Points (Today's Market)

Feb 24, 2021 12:30 pm

BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.

View More Indian Share Market News

Most Popular

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years(Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

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


Feb 24, 2021 (Close)

MARKET STATS