Markets will remain closed on April 17, 2024 on account of Ram Navami.

Strong Start to the Week; Tata Steel Gains

Mon, 12 Feb Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   11:30 am   

   01:30 pm   

Indian share markets continued to flourish in today's session. At the closing bell, the BSE Sensex closed higher by 295 points and the NSE Nifty finished higher by 85 points. The S&P BSE Mid Cap finished up by 1.3% while S&P BSE Small Cap finished up by 1.6%.

Gains were largely seen in realty stocks, capital goods' stocks and power stocks.

Asian stock markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.78%, while the Nikkei 225 & the Hang Seng fell 2.32% and 0.03% respectively. European markets are sharply higher today with shares in Germany leading the region. The DAX is up 2.05% while France's CAC 40 is up 1.64% and London's FTSE 100 is up 1.45%.

Rupee was trading at Rs 64.28 against the US$ in the afternoon session. Oil prices were trading at US$ 60.55 at the time of writing.

The Market cap to GDP ratio for Indian companies too is close to dangerously high levels. While this is still some way off the peak of FY-08, when it had once reached close to 150, it's relatively high.

FY17 saw this ratio reach close to 80. It is also expected to increase further given the moderate growth expectations in India's GDP for FY18. Warren Buffett once considered this as one of the best valuation metrics to gauge the markets.

Past history shows some correlation between the ratio and the share market. 2008 saw Sensex decline by 38%, when this ratio crossed the 100 mark. Also, the market has bounced back sharply when this ratio was low.

The Warren Buffett Indicator Suggests Indian Equity Market Is Overvalued

The basic assumption in this ratio is that whenever the GDP of the country grows, the market performance will reflect it. Also, when stocks do well, it can be extrapolated to assume the Indian economy is doing well.

Tata steel share price continued to gather momentum and finished up by 4.2% after the company said its third-quarter earnings jumped more than fivefold, replenishing the company's coffers as it plans to double production capacity in India. The company's profit rose to Rs 12.9 billion for the three months through December, from Rs 2.43 billion a year earlier.

In news from energy sector, ONGC share price surged 1.6% after it was reported that the company's international arm - ONGC Videsh (OVL) led Indian consortium comprising of Indian Oil Corporation (IOC) and the international arm of Bharat Petroleum Corporation has been awarded 10% stake in Lower Zakum Concession, Offshore Abu Dhabi.

The Indian Consortium would contribute a sign-up bonus of US$600 million to enter the concession for a 10% stake.

The current production of this field is about 400,000 bopd and Indian consortium annual share shall be about 2 MMT. The field profile is to set to achieve plateau target of 450,000 bopd by 2025.

In news from power sector, NTPC is planning to borrow around Rs 160 billion in next financial year to add 6,900 MW of fresh electricity generation capacity by March 2019. In this regard, the company may hit the bonds or debt market to borrow the said amount. The company is currently working on adding 21,000 MW capacities and projects are at different stage of execution.

Moreover, the company has planned capital expenditure of Rs 230 billion for 2018-19, which includes both debt and equity, essentially for capacity addition through the greenfield route.

NTPC share price finished the day on an encouraging note (up 1.1%).

Moving on to news from banking sector. Indian banks' gross non-performing assets (NPAs) or bad loans fell marginally to 9.8% during Q2 (July-September) of FY18, as compared to 10% in the previous quarter.

Union Minister of State for Finance Shiv Pratap Shukla has highlighted that as per RBI's financial stability report (FSR) released on December 2017, the gross non-performing advances ratio of scheduled commercial banks (SCBs) increased from 9.6% to 10.2% between March and September 2017.

Shukla has stated that the problem of bad loans of banks has been addressed holistically through transparent and realistic recognition of NPAs, provision for expected losses and unprecedented recapitalisation, and putting in place a clean recovery system.

Besides, he noted that under 'Indradhanush' roadmap announced in 2015, the government provided for Rs 700 billion till 2018-19 for strengthening PSBs' balance-sheets, as a result of which despite high NPA and consequential provisioning, banks were successful in complying with capital adequacy norms.

SBI share price finished the day down by 2.7% on the BSE after the bank reported a net loss of Rs 24.16 billion for the fiscal third quarter after setting aside funds to cover rising bad loans and losses on its bond portfolio.

It had reported a net profit of Rs 15.82 billion in the September quarter. This was the lender's first quarter under the chairmanship of Rajnish Kumar, who took over in October.

In another development, Marico share price gained 4.1% to Rs311.60 per share after the company reported a 16.51% increase in its consolidated net profit at Rs 2.23 billion for the quarter ended December 2017 on account of higher income led by market share gains.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers