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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Selective buying in blue chips 
(Thu, 16 Feb Closing) 
 
Taking cues from their peers across the globe, the indices in Indian stock markets witnessed a lackluster session today. Despite selective buying in blue chips across few sectors, the indices failed to make inroads into the positive territory throughout the session today. While the BSE-Sensex closed lower by around 48 points (down 0.3%), the NSE-Nifty closed lower by around 10 points. The BSE Mid cap and the BSE Small cap indices, however, bucked the trend and notched gains of 1% each.

As regards global markets, Asian indices closed lower today while European indices have also opened in the red. The rupee was trading at Rs 49.38 to the dollar at the time of writing.

Power stocks including National Thermal Power Corporation (NTPC), Tata Power and GIPCL gained on the bourses today. The government's directive to Coal India to ensure adequate fuel supplies to the power generators is expected to put an end to the ordeal the companies have been going through over the past year. That the onus of importing power in case of supply deficit is also on Coal India, will ensure that the power producers' margins remain safeguarded. The BSE Power Index, a measure of 19 Indian companies, climbed to the highest intraday level today since August 2011.

Nestle India reported results for the fourth quarter and full year ended December 2011. The company has reported 16.9% YoY and 13.5% YoY growth in sales and net profits respectively. Sales for CY11 were up by 19.7% on a 20.2% YoY rise in revenues in the domestic market. Exports grew by a relatively slower 11.8% due to ban on milk powder exports. Operating (EBITDA) margin improved by 120 basis points on the back of lower raw material cost as a proportion of sales. During CY11, the company has been able to tide over input cost inflation through improved product/channel mix and maintain its operating margin at 20.5%.

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Jul 26, 2017 (Close)

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