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 Slips 450 Points; SBI & IndusInd Bank Top Losers
Thu, 27 Feb 12:30 pm | Monish Vora, TM Team

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!


Share markets in India fell nearly 1% today tracking weakness in global markets owing to the rapid spread of coronavirus beyond China.

Heavy foreign fund outflows too weighed on market sentiment. Foreign portfolio investors offloaded shares worth Rs 33.8 billion on Wednesday, taking their total sales to over Rs 69 billion in past three days.

Barring consumer durable stocks, all sectoral indices are trading on a negative note with stocks in the realty sector, metal sector and power sector witnessing most of the selling pressure.

The BSE Sensex is trading down by 391 points (down 0.9%), while the NSE Nifty is trading down by 123 points (down 1%).

The BSE MidCap index is trading down by 1.2%, while the BSE SmallCap index is trading down by 1.5%.

The rupee is currently trading at 71.61 against the US$.

In news from the pharma sector, Sun Pharma's wholly owned subsidiary has launched Riomet ER in the US as an adjunct to diet and exercise to improve glycemic control in patients 10 years of age and older with type 2 diabetes mellitus.

--- Advertisement ---
The No. 1 Small Cap Stock of 2020 (Access Ends Shortly)

In 72 hours from now, the opportunity to access details of The No. 1 Small Cap Stock of 2020 will disappear.

I strongly recommend you don't miss this opportunity.

Access full details here...
------------------------------

Riomet ER was approved by the US Food and Drug Administration (USFDA) on August 29, 2019.

Riomet ER is the first and only FDA-approved liquid formulation of extended-release metformin.

Sun Pharma share price is presently trading up by 1.7%.

Speaking of the pharma sector, co-head of research at Equitymaster, Tanushree Banerjee talks in great detail about the sector in the video below.

She tells us where the sector stands now and also about the potential for a rebound.

Watch Now...

Moving on to news from the insurance sector, the Insurance Regulatory and Development Authority of India (IRDAI) has set up a committee to study the feasibility of allowing life insurers to sell indemnity-based health products.

Until now, these companies were allowed to sell only benefits-based health products.

As per an article in The Economic Times, if the nine-member panel recommends the move and the Centre gives the green light, this will pave the way for Life Insurance Corporation (LIC) to further consolidate its dominance of the country's insurance landscape using its expansive distribution network to potentially seize market share from health insurers ahead of its IPO next year.

However, stakeholders and market observers point out that while such a move can bring much needed improvement in coverage of health-based products, the proposition may face stiff resistance from health insurers.

How this pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

In other news, Fitch ratings on Wednesday said that the proposed initial share sale of LIC will improve the accountability and transparency of the country's largest insurer and benefit the insurance industry.

Fitch said it expects that the initial public offering (IPO), once executed, may also encourage some of the other private sector insurance companies to list some of their shares in the stock market over the medium term, although the current insurance regulation does not require all insurers to be listed publicly.

Finance Minister Nirmala Sitharaman had said that LIC will be listed as part of government's disinvestment initiative.

Currently, the government owns the entire 100% stake in LIC.

Fitch expects the state to reduce ownership only marginally in the insurer in the near term, but could gradually reduce the stake over the long run to meet the minimum public holding requirement for listed companies.

Speaking of the life insurance sector, this is one sector which is a clear outperformer in this volatile market.

With the huge future potential of the sector, the outperformance is not surprising. India's life insurance penetration i.e. insurance premiums as a percentage of GDP, is very low compared to the global average.

Life Insurance Sector - Megatrend in the Making

The industry is expected to grow at a CAGR of 11-13% over the next five years. India's large youth population and growing awareness about insurance is bound to accelerate growth.

As per Tanushree, this is one of the megatrends that will help what she calls the Rebirth of India.

She has identified the 7 best stocks that will profit from the Rebirth of India. You can read about these top 7 stocks here.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 Slips 450 Points; SBI & IndusInd Bank Top Losers". Click here!

  

Stock Market Updates

TTK PRESTIGE Surges by 17%; BSE CONSUMER DURABLES Index Up 1.7% (Today's Market)

Mar 31, 2020 03:33 PM

TTK PRESTIGE share price has surged by 17% and its current market price is Rs 5,154. The BSE CONSUMER DURABLES is up by 1.7%. The top gainers in the BSE CONSUMER DURABLES Index are TTK PRESTIGE (up 16.8%) and CROMPTON GREAVES CONSUMER ELEC. (up 10.4%). The top losers are TITAN (down 1.4%) and BAJAJ ELECTRICALS (down 1.8%).

KEC INTERNATIONAL Surges by 6%; BSE CAPITAL GOODS Index Up 1.3% (Today's Market)

Mar 31, 2020 03:33 PM

KEC INTERNATIONAL share price has surged by 6% and its current market price is Rs 187. The BSE CAPITAL GOODS is up by 1.3%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.6%) and HONEYWELL AUTOMATION (up 7.8%). The top losers are THERMAX (down 1.7%) and LAKSHMI MACHINE (down 1.7%).

HUL Surges by 5%; BSE FMCG Index Up 5.4% (Today's Market)

Mar 31, 2020 03:33 PM

HUL share price has surged by 5% and its current market price is Rs 2,312. The BSE FMCG is up by 5.4%. The top gainers in the BSE FMCG Index are HUL (up 5.2%) and GSK CONSUMER (up 5.9%). The top losers is JYOTHY LABS (down 2.9%).

YES BANK Plunges by 10%; BSE BANKEX Index Up 1.5% (Today's Market)

Mar 31, 2020 03:33 PM

YES BANK share price has plunged by 10% and its current market price is Rs 26. The BSE BANKEX is up by 1.5%. The top gainers in the BSE BANKEX Index are CITY UNION BANK (up 5.4%) and SBI (up 4.8%). The top losers are YES BANK (down 10.5%) and INDUSIND BANK (down 14.8%).

3M INDIA Surges by 10%; BSE 500 Index Up 3.4% (Today's Market)

Mar 31, 2020 03:33 PM

3M INDIA share price has surged by 10% and its current market price is Rs 19,301. The BSE 500 is up by 3.4%. The top gainers in the BSE 500 Index are 3M INDIA (up 10.4%) and TTK PRESTIGE (up 16.8%). The top losers are THE INDIAN HOTELS (down 0.1%) and FORTIS HEALTHCARE (down 0.1%).

Indian Indices Extend Gains; ONGC, ITC and Asian Paints Surge Over 5% (Today's Market)

Mar 31, 2020 12:30 pm

The BSE Sensex is trading up by 818 points, while the NSE Nifty is trading up by 257 points.

View More Indian Share Market News

Most Popular

If I Were to Recommend One Stock Amid Coronavirus Outbreak, This Would be It.(Profit Hunter)

Mar 19, 2020

Coronavirus outbreak has made no impact on the long term prospects of my favourite smallcap. What it has indeed done is brought the company below my buy price, making it even more attractive investment at current price.

Why India Will Be the Biggest Winner in a Post-Coronavirus World(The 5 Minute Wrapup)

Mar 19, 2020

The way businesses operate will change in a major way post the coronavirus impact. Here's why India stands to benefit from this change...

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

Sorry Warren Buffett, I'm Following This Man Instead of You in 2020(The 5 Minute Wrapup)

Mar 30, 2020

This man warned of an impending market correction while everyone else was celebrating the renewed optimism in early 2020...

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Mar 31, 2020 (Close)

MARKET STATS