X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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

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?  

Indian Indices End Marginally Lower; Realty Stocks Witness Losses
Thu, 22 Mar Closing | Monish Vora, TM Team

After opening their day on a positive note, Indian share markets gave up their earlier gains and ended their session marginally lower. Losses were largely seen in the realty sector and telecom sector, while consumer durables stocks ended the day higher.

At the closing bell, the BSE Sensex stood lower by 130 points (up 0.4%) and the NSE Nifty closed lower by 41 points (up 0.4%). The BSE Mid Cap index ended the day down by 0.8%, while the BSE Small Cap index ended the day down by 1.1%.

Asian stock markets finished on a negative note as of the most recent closing prices. The Hang Seng was down 1.09% and the Shanghai Composite stood lower by 0.52%. The rupee was trading at 65.12 to the US$ at the time of writing.

Jindal Drilling & Industries (JDIL) share price was witnessing buying interest today as the company reached a settlement for an arbitration award worth US$ 31.77 million for damages passed against company, for US$ 9.1 million with a complete waiver of all other costs.

--- Advertisement ---
Benefit from the Market Crash, With These 5 Safe Stocks

For over 15 years, our Safe Stocks recommendation service has recommended solid stocks that have stood the test of time.

Even today, amongst the fear of a market crash...

We have used the accumulated experience of over 15 years to bring you...

The top 5 safe stocks that could potentially strengthen your portfolio.

And today, you can claim this special report...!

Click here to find out how...
------------------------------

In the news from the steel sector, as per a leading financial daily, the US has decided to slap anti-dumping duty on stainless steel flanges imported from India and China as it found in its preliminary probe that both the countries provided subsidies to the exporters.

In other news from the banking sector, the government said that Punjab National Bank (PNB) expects a Rs 145 billion loss on account of frauds in this financial year, including contingent liabilities, following the scam by Nirav Modi.

The amount involved in the alleged fraud involving Nirav Modi, Mehul Choksi and their companies is now pegged at almost Rs 140 billion. The total loss reported by the bank due to frauds was Rs 3.4 billion in FY16, Rs 26 billion in FY17, and Rs 145 billion (including contingent liabilities) in FY18 till date.

Note that the recent fraud at Punjab National Bank in conjunction with the diamond merchant Nirav Modi has put the spotlight on the growing bad loan problems in Indian banks.

It has also brought to the fore the painful issue of willful defaulters especially after the Vijay Mallya fiasco. The chart below shows the banks that have the highest number of willful defaulters.

Banks with the Highest Number of Willful Defaulters

Unsurprisingly, Punjab National Bank tops the list. But the others aren't too far behind.

Also note that the share of large corporates, in total advances of the banking sector, has almost remained unchanged over past three years (at an average of 55%).

However, their contribution to incremental slippages has been huge. At one point, the big corporate borrowers accounted for nearly 90% of total NPAs of the sector.

Banks, in principle, must be careful about not extending loans to borrowers with poor creditworthiness or payment track record. That too, irrespective of the size of the borrower.

While the bad loans struggle at PSBs has been going on since a decade, bureaucracy and a lack of autonomy have ensured the sub-optimal profitability and asset quality of these state-run banks.

That's the reason we've been wary of PSU banks since 2014. This was well before the market had caught a whiff of the NPA problem. We've recommended just two large PSU banks in StockSelect since then...and already successfully closed both of them.

And here's a note from Profit Hunter:

Marksans Pharma Ltd. touched a new 52-week low in today's session. Lets have a look at its chart.

In August 2015, we saw the stock had topped out at the 115 level and fell to touch a low of 35 in March 2016. Though it recovered to touch the 55 level, it lacked strength and subsequently traded in the broad range of 35-55. It found strong resistance and support at the 55 level and 35 level respectively.

Today, the stock broke its support level of 35 to hit a fresh 52-week low.

Will the stock recover to rise above the 35 level or will we see it drop to lower levels going forward? Let's keep the stock on our radar.

Marksans Pharma at a New 52-week Low
Marksans Pharma at a New 52-week Low

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 "Indian Indices End Marginally Lower; Realty Stocks Witness Losses". Click here!

  

Most Popular

Why India is Short of Cash Again(Vivek Kaul's Diary)

Apr 19, 2018

It is basically a supply problem with not enough currency going around in the financial system.

A Sure Shot Way to Predict a Multibagger Stock(The 5 Minute Wrapup)

Apr 17, 2018

The imaginary stock price of IIM Ahmedabad could have rivalled the returns from Titan and Asian Paints thanks to its enormous pricing power.

Why Buffett Would Scowl at My Latest Recommendation...(Profit Hunter)

Apr 18, 2018

Warren Buffett's advice that may not be so relevant in these dynamic times, and could do investors more damage than good when taken at the face value.

This is How a Smart Robo-Advisor can Help You Chart Your Asset Allocation...(Outside View)

Apr 16, 2018

PersonalFN explains how a dependable robo-advisory platform can help you create your personalized asset allocation plan

How Retail Investors Often Dump the Best Buying Opportunities(Chart Of The Day)

Apr 16, 2018

A journey into how retail investors have invested since the turn of the millennium and why I don't want to do repeat that mistake ever again...

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Apr 26, 2018 (Close)

MARKET STATS