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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Global sentiments make it 3 in a row 
(Thu, 24 Mar Closing) 
 
Indices were seen building on to their gains during the closing hours of trade and as a result, the Indian stock market has closed in the positive yet again today. The BSE-Sensex has closed with gains of around 150 points whereas NSE-Nifty logged in gains to the tune of 42 points (up 0.8%). Gains were also seen in BSE Midcap and BSE Small cap indices as both closed higher by 0.7% and 0.8% respectively. Four stocks gained for every one that declined on the Sensex today.

While most Asian indices closed in the positive today, Europe is trading mixed currently. Rupee was seen trading at Rs 44.7 to the dollar at the time of writing.

It was the macroeconomics yet again that trumped other developments such as the Middle East turmoil, higher oil prices and uncertainties in the Euro zone. Consequently, most markets across Asia closed the day in the green with India being no exception. Gains in India came on the back of two successive positive ending days with the current one making it three in a row. The fact that food inflation in India rose after three weeks of decline was not able to deter buyers.

Auto ancillary players closed mixed today. While Mahindra Forgings and SKF India emerged as the top gainers, losses were seen in Munjal Showa and Rico Auto. The industry has had a robust past 12 months. As per reports, sales of around 15 odd large listed players in the sector surged 41% during the last four quarters whereas growth in net profits has been even better at 70% YoY. Besides domestic markets, what enabled the sector companies to post in a robust performance was a low base effect and a revival in sales from the exports markets. Going forward though, both sales and profits are likely to return to more normal levels like 15%-20%. Furthermore, if costs pressure persists, the growth in profits could be even more muted.

Power equipment major BHEL closed quite strong today. The buoyancy was a result of a large order win by the company. As per reports, the company in consortium with ABB won an order from state run Power Grid Corporation for a power transmission link. The order value for BHEL is estimated to be Rs 15.9 bn. The link comprises three converter terminals and a power transmission system with a built-in capacity of up to 8,000 MW. This is believed to be the largest order for BHEL in the T&D space. The first stage of the system is scheduled to be operational in 2014 and the second stage in 2015.

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Sep 25, 2017 (Close)

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