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?  

Major global markets touch record highs
Sat, 21 Mar RoundUp

Barring India, all the major global stock markets ended the week in the green. The US stock market hit new highs, on back of positive comments from Federal Reserve Chair, Janett Yellen. Janett indicated that central bank will raise interest rates more slowly than planned. This event had positive impact on the global markets too.

China was the biggest gainer for the week (up 7.2%). The markets closed above 3600 levels, highest in last seven years. The Japan markets hit 15-year high levels as Yen softened against the US dollar. Among the European markets, the UK stock markets touched their life-time high levels breaching 7K levels. Lower interest rates have revived hopes of breakthrough in Greek debt crisis which is propelling rally in European stocks.

The Indian stock markets ended the week in red. The downward trend in the market pulled down the indices to one month lower levels. While buying activity was witnessed post Fed's comments, however Indian indices later lost the streak and slipped into red.

Key world markets during the week
Source: Yahoo Finance

Among the sectoral indices realty and power indices witnessed maximum selling pressure. Stocks from Pharma and IT were in demand.

BSE indices during the week
Source: BSE

Now let us discuss some of the key economic and industry developments in the week gone by.

The Government has issued a cabinet note to sell 10% of NTPC for disinvestment in the next financial year. The government plans to raise nearly Rs 695 bn that would cover nearly 3.9% of the fiscal deficit target. At 10% of NTPC on sale, the Government can raise about Rs 126 bn at current price. According to a leading financial source, the official proposal is yet to be declared, however, the stake might be sold at a discount of 4% - 5% to retail investors. Further, the government has created a list of PSUs which would be divested in the next financial year. The list starts with BHEL. The total divestment is expected to be Rs 410 bn the next fiscal. Currently the government has a 63.06% stake in BHEL. In March 2014, the government had sold 4.66% stake to LIC for Rs 18 bn.

The Wholesale Price Index (WPI) for the month of February touched an all-time low with -2.06%. This is the fourth consecutive instance when there has been a deflation in prices. Three groups namely primary articles, fuel & power and manufactured products are primarily responsible for the decline in prices. Primary articles (index weight - 20%) fell 1.9% while fuel & power (index weight - 15%) fell 4.5% and manufactured products (index weight - 65%) fell 0.3%.

Movers and shakers during the week
Company13-Mar-1420-Mar-14Change52-wk High/Low
Top gainers during the week (BSE-A Group)
Gujarat state Petronet 108 117 8.6% 136/62
DLF Ltd 149 160 7.5% 243/100
PidIlite Industries 579 618 6.7% 635/278
JSW Energy 111 118 6.7% 126/51
GSK Consumers 5,855 6,231 6.4% 6415/4116
Top losers during the week (BSE-A Group)
Jindal steel 194 165 -15.1% 350/125
HDIL 116 99 -14.5% 125/46
Unitech 21 18 -14.1% 39/11
Lanco infratech 6 5 -13.9% 15/5
JP Associates 29 25 -13.2% 90/23
Source: Equitymaster

Now let us move on to some of the key corporate developments of the week gone by.

According to a leading financial daily, Tata Motors is all set to introduce at least 6 utility vehicles to regain the lost share. The company's performance in the domestic space has been dismal, however, it has been above expectation. The company is planning to introduce Premium Crossover, Sub-4 metre SUV, Rugged SUV and Premium SUV till 2016 and second half of 2017. Tata Motors reportedly lost its market segment of affordable cars to Mahindra & Mahindra.

IT major Wipro bagged a 5 - year deal from a US based utility company named Greater Cincinnati Water Works (GCWW). The financial details were not disclosed. Wipro will take care of GCWW's Customer Relationship Management process which will include billing and service bureau operations. GCWW is a provider of 113 million gallons of water to 1 million people across Ohio and Kentucky.

The engineering giant, Larsen and Toubro has secured orders worth Rs 12.55 bn which included designing of factories, construction of building and power transmission and distribution. Rs 8.25 bn is attributed to the orders that involve design and construction while the remaining is attributed to power distribution and transmission. Internationally, the company also bagged orders for setting up a power substation.

As per a leading financial daily, Cairn India is feeling the heat of a slump in crude oil prices. Due to the slide in prices, the company has cut its capex by 60% to $500 m as compared to $1.2 bn earlier. The company has also laid off 250 employees and is re-negotiating drilling contracts to curtail costs. To add to this, the company has also been slapped with a tax demand of Rs 204.9 bn for not deducting withholding tax on capital gains made by its former parent, Cairn UK Holdings. The company is also awaiting the extension of the production sharing contract of its Rajasthan field.

Cadila healthcare recently announced the company has launched a new drug to treat Hepatitis C. The drug is used as Oral therapy and is named SoviHep. The drug would be marketed by Zydus Heptiza. Zydus and Gilead Sciences have partnered each other to market and sell this drug in over 91 countries that also include India. The drug would be useful in India as it is a home to 10 mn Hepatitis C patients.

State Bank of India went online to auction its 300 assets recently. The value of these properties is approx. Rs 12 billion. However, so far it managed to sell 130 properties whose value turned out to be Rs 1 billion. The 300 properties included spaces like factory buildings, office, shops and residential apartments spread over 25 cities in India. This was a maiden initiative by the bank to dispose its bad or distressed assets through e-auction.

On the macro front geopolitical events will continue to influence the stock market direction. Further, the fact that the US central bank will change the rates, that have been left untouched for the past 6 years, sooner than later, is something that markets should be worried about. This may bring opportunities to invest in solid companies with a reasonable margin of safety.

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 "Major global markets touch record highs". Click here!

  

Stock Market Updates

Sensex Ends 598 Points Lower, Nifty Settles Below 15,100-Mark; HDFC and JSW Steel Top Losers (Today's Market)

Mar 4, 2021 Closing

Indian share markets end deep in the red with the Sensex down by 598 points and the Nifty ending down by 164 points.

TORRENT POWER Share Price Up by 5%; BSE POWER Index Up 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BALRAMPUR CHINI Share Price Up by 10%; BSE 500 Index Down 0.3% (Today's Market)

Mar 4, 2021 03:00 PM

BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .

INDIAN ENERGY EXCHANGE Share Price Up by 7%; BSE POWER Index Up 0.9% (Today's Market)

Mar 4, 2021 02:48 PM

INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).

ITD CEMENTATION INDIA Share Price Up by 8%; BSE REALTY Index Up 0.3% (Today's Market)

Mar 4, 2021 02:36 PM

ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).

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.

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...

How Much Money For Day Trading?(Fast Profits Daily)

Feb 22, 2021

In this video, I'll show you how to allocate your capital as a day trader.

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


Mar 4, 2021 (Close)

MARKET STATS