X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

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

Sensex Trades Marginally Lower; D-Mart Lists at 102% Premium
Tue, 21 Mar 11:30 am

After opening the day on a flat note, the Indian share markets witnessed choppy trades and are presently trading marginally lower. Sectoral indices are trading on a negative note with stocks in the healthcare sector and telecom sector witnessing maximum selling pressure.

The BSE Sensex is trading down 54 points (down 0.2%) and the NSE Nifty is trading down 15 points (down 0.2%). The BSE Mid Cap index is trading down by 0.7%, while the BSE Small Cap index is trading down by 0.3%. The rupee is trading at 65.37 to the US$.

The stellar debut of Avenue Supermarts on Indian indices is talk of the town today. This comes as shares of Avenue Supermarts got listed at Rs 604.40 on BSE, thereby marking a 102% premium over its issue price of Rs 299 apiece.

The IPO, the biggest since PNB Housing Finance's Rs 30 billion offer in October last year, was subscribed more than 104 times earlier this month.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Rohan Pinto, our Research Analyst, released the Equitymaster IPO note recently. In this detailed report, Rohan not only evaluates the company's business performance, but answers the crucial question about valuations. Find the entire report here (requires subscription).

In other news, Divi's Lab share price plunged 18% in morning trades today after the USFDA issued an import alert for company's Vishakhapatnam unit II. The unit contributes 60-65% to the total sales and 20-21% to US sales.

On the macroeconomic front, the Union Cabinet yesterday approved four legislation required to implement the goods and services tax (GST). This has allowed for the introduction of these bills in Parliament this week.

The four GST related bills are -- The Central Goods and Services Tax Bill 2017 (The CGST Bill), The Integrated Goods and Services Tax Bill 2017 (The IGST Bill), The Union Territory Goods and Services Tax Bill 2017 (The UTGST Bill) and The Goods and Services Tax (Compensation to the States) Bill 2017 (The Compensation Bill).

These bills are likely to be introduced as money bills, thereby ensuring they do not get stalled in the Rajya Sabha.

The above developments have set the stage for implementing the landmark tax reform by 1 July 2017.

To get a detailed view on the Goods and Services Tax (GST), you can read Vivek Kaul's report, GST & You: What the Media DID NOT TELL YOU about the GST.

Global stock markets are also trading on a positive note this week on the back of Federal Reserve's forecast of interest rate hikes this year.

Last week, the US Fed raised its interest rates by 25 bps from 0.75% to 1%. This is the second hike in last three months. The Fed also stuck to its outlook for two additional rate increases this year and three more in 2018. The central bank lifted rates once in 2016.

The chart below indicates the performance of global market indices, the dollar, and gold from 14 December 2016 and 15 March 2017. This is the period between two consecutive fed rate hikes.

Stock Markets and Gold Rally, Dollar Tumbles

Stock Markets and Gold Rally, Dollar Tumbles

As per Asad, the above interest rate hike by the Fed and the promise of more interest rate increases would lead to the end of easy money and create big trends that traders can profit from.

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

Equitymaster requests your view! Post a comment on "Sensex Trades Marginally Lower; D-Mart Lists at 102% Premium". Click here!

  

S&P BSE SENSEX


Apr 26, 2017 (Close)

MARKET STATS