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?  

Pharma stocks lead among gainers
Tue, 24 Mar 01:30 pm

Indian markets gained momentum after providing a weak start in the morning session. BSE Sensex is trading with gains of 125 points while NSE-Nifty is trading higher by 40 points. Healthcare sector has been an outperformer in today's trading session. BSE Mid Cap and BSE Small Cap are trading with moderate losses. While the midcap stocks are trading with a loss of 2 points, smallcap stocks are trading with a loss of 20 points.

On the commodity front, while the gold prices, per 10 grams, have increased by 0.03% or Rs 7, the Silver prices, per kilogram, remains unchanged at Rs 37,780 levels. Crude oil prices have showed strength today, a day after Saudi Arabia issued a statement on not lowering its output. Crude oil prices are trading up by 0.5% or Rs 15 higher. Per barrel crude oil is available at Rs 2945. The Indian rupee against the U.S Dollar dipped slightly. The value of the Indian rupee fell about 0.06% or 0.04 and is currently trading at Rs 62.23 against the U.S Dollar.

Power companies have remained volatile between small losses and profits. JSW energy has gained the most while Torrent Power losing the most. As per a financial daily, Adani group and JSW group are the front runners for acquiring a stake in management in Monnet power which is valued to be around Rs 31 bn. Reportedly, they have ousted Tata Power and an international player from the bids. The deal is likely to be sealed in April. Further, it is also reported that the Monnet Power management believes that the deal will help in repaying some debt. As reported in FY 2014, the company has a huge debt of Rs 100 billion. Monnet Power operates out a 1050 MW coal-based power plant located in Odisha. The company plans to further add 660 MW in the plant. Shares of Monnet Ispat gained over 3.5%.

FMCG companies are trading marginally up during the post noon trading session. Shares of Tilaknagar Industries received a major boost of 9% after an Africa-based company decided to buyout some products of Tilaknagar Industries. The company expects to garner anywhere in between Rs 2.5 bn to Rs 3 bn by selling those products to the Distell group. Distell group is one of the leading producers of liquor. The proceeds from this sale are expected to become a cushion, since the company has huge debt of Rs 8 bn in its books.

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 "Pharma stocks lead among gainers". Click here!


Views on News

Top 5 Recent IPO Developments You Should Know (Views On News)

May 12, 2021

So far in 2021, IPOs in India have raised nearly US$ 3 bn, the best start to the year since 2018.

How Did Mindtree Perform in Q4FY21? (Company Info)

Apr 20, 2021

Here's the rundown on the company's latest quarterly results.

Parag Parikh Conservative Hybrid Fund: Should You Invest in Higher Debt Allocation? (Outside View)

May 14, 2021

PersonalFN analyses the features of Parag Parikh Conservative Hybrid Fund and explains the potential this fund has to offer to its investors.

Die Hard 4.0 Redux? (Fast Profits Daily)

May 14, 2021

A Hollywood style cyber-attack has caused shockwaves across financial markets.

What Godrej Consumer's 22% Single-Day Gain Tells About My Blueprint (Profit Hunter)

May 14, 2021

The company's FY21 earnings performance turned out better than my estimates but...

More Views on News

Most Popular

Is Intraday Trading For You? (Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution (Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.


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


May 14, 2021 (Close)