Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

IT, realty stocks help cut losses
Tue, 9 Mar 01:30 pm

Increased buying activity led the Indian markets to recovered their losses and rise above the dotted line during the previous two hours of trade. The market breadth currently is positive as the advance to decline ratio is poised at 1.4 to 1 on the BSE. Stocks from the IT, realty and FMCG spaces are leading the pack of gainers, while those from the metal, oil & gas and auto spaces are amongst the key losers.

The benchmark indices are currently trading flat with the BSE-Sensex trading higher by about 10 points (about 0.1%), while the NSE-Nifty Index is trading lower by about 5 points (0.1%). Stocks from the midcap and small cap spaces are currently trading marginally lower. The rupee is trading at 45.56 to the US dollar.

Auto ancillary stocks are currently trading firm led by Exide Industries, Asahi India, Munjal Showa and Bosch. Gains in the stock of Exide Industries are on the back of the company looking to raise capital by selling about 50 m shares to qualified institutional buyers (QIBs). As per a leading business daily, the company has fixed the floor price for this exercise at about Rs 108 per share. As such, it would end up raising about Rs 5.4 bn from the same. These proceeds will be used for research and development (R&D) initiatives as well as for adopting new technologies for the future.

We are not sure whether these R&D initiatives would help Exide improve its product portfolio. However, if it does, it would be a step in the right direction as it would give the company additional revenue streams. On the other hand, if the company is able to improve the quality of existing products but not pass on the prices to its customers, it would be a disadvantage. As of now, investors seem to have favoured this move as the stock is trading higher by about 4%.

Stocks of cigarette companies are currently trading firm led by ITC, Godfrey Phillips and VST Industries. According to a leading daily, ITC is planning to increase the prices of its cigarettes. This is a result of the excise duty hike imposed on cigarettes in the Union Budget 2010-11. The impact on ITC's tobacco business due to this increase has been 17%. While in the past the government has imposed heavy excise duty on cigarettes, the effect of these increases has been passed on entirely by ITC. It has been seen in the past that increase in prices due to excise duty hikes has affected the company's cigarettes volumes marginally if at all. However, due to the sharp increase in excise duty this year we would like to wait and see what the effect of this increase would have on the sales of the company.

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 "IT, realty stocks help cut losses". Click here!


Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


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


Mar 2, 2021 03:36 PM