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?  

Sensex Ends 693 Points Higher; IT, Energy and Healthcare Stocks Rally
Tue, 24 Mar Closing | Monish Vora, TM Team

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!


Indian share markets continued to trade in the green during closing hours and ended their day on a strong note.

Benchmark indices climbed off day's high after Finance Minister Nirmala Sitharaman said that an economic package was still underway even as she announced a slew of other measures, mainly with regard to regulatory compliance matters.

In early trade today, Sensex rose more than 1,450 points as global sentiments improved after the US Federal Reserve pledged to spend as much as needed to steady the financial system. However, gains were wipes as the session progressed.

At the closing bell, the BSE Sensex stood higher by 693 points (up 2.7%) and the NSE Nifty closed higher by 191 points (up 2.5%).

The BSE Mid Cap index ended up by 1.6%, while the BSE Small Cap index ended the day on a flat note.

On the sectoral front, gains were largely seen in the IT sector, healthcare sector and energy sector.

Note that, since the coronavirus outbreak, all BSE indices and NSE indices are down in the range of 25-35%.

In the article titled Worst Hit Indian Sectors Amid Coronavirus Pandemic: 10 Points to Know, we dive deeper and look at how the impact has been on individual sectors...

Asian share markets ended on a positive note. As of the most recent closing prices, the Hang Seng was up 4.4% and the Shanghai Composite stood higher by 2.3%.

Gold prices are currently trading up by 0.3% at Rs 41,291. The rupee is currently trading at 76.20 against the US$.

--- Advertisement ---
READ: FULL Transcript of Our Urgent Broadcast

The full transcript of our urgent broadcast on India's Revival is available for a limited time now.

In case you missed watching our broadcast LIVE...

You can see all the important highlights from our broadcast in this transcript.

Please note that we may take this transcript off the internet any minute.

So it is highly recommended you read it immediately.

Click Here to Read the Transcript NOW
------------------------------

Note that the NSE Nifty saw its sharpest one-day fall yesterday, crashing 13%, as the virtual shutdown of the economy to contain the spread of coronavirus spooked investors.

The selloff shaved off a record Rs 14 trillion of market capitalisation.

Many state governments announced lockdowns, as the tally of those infected surged past 500 and the death toll reached ten, raising fears of a community spread.

Speaking of the ongoing coronavirus pandemic and the Indian economy, here's what Tanushree Banerjee wrote about the same in a recent edition of The 5 Minute WrapUp...

  • The coronavirus impact has woken everyone up. The dependence on one country and its dangers have been exposed to the whole wide world.

    There are short-term and long-term impacts of this wake-up call.

    The short-term impact is what we're seeing every day. Countries in lockdown, screening of travelers, quarantines, etc.

    But what about the long-term impact?

    We will see this once the crisis is over.

    And this impact will be huge.

Also, talking of the Indian economy, 1991, in a lot of ways, can be termed as the turning point of India's economic story.

From being largely isolated from the outside world, India suddenly became a big part of the new global era.

Exports also became a big contributor to India's GDP. From contributing around 7% of GDP before 1991, exports contribute close to 20% of GDP now.

Is This the 1991 Moment for India Again?

As per Tanushree, if things go India's way, as she believes it will, the aftereffect of the coronavirus will have an even bigger impact than 1991.

As per her, it will have a positive impact on what she calls the Rebirth of India.

She is focused on finding strong businesses with the capacity to take advantage of this huge opportunity.

And these businesses will create a lot of wealth in the long-term.

In news from the banking sector, shares of IndusInd Bank plunged as much as 30% to hit an 8-year low of Rs 235.55 today, after the bank's managing director and chief executive officer Romesh Sobti retired on Monday.

Sobti retired on Monday as he turned 70. The RBI norm does not allow the position to be held by anyone beyond 70 years.

--- Advertisement ---
[Watch Now] 3 Little-known Stocks We are Super Bullish On



Click Here to Watch Now
------------------------------

The private lender's market-capitalisation slipped below the Rs 200 billion-mark in early trade today.

The bank said that it has appointed Sumant Kathpalia as the managing director and chief executive officer. Kathpalia's appointment as MD & CEO will be placed for approval of the shareholders at the ensuing annual general meeting, the bank said in a statement.

However, shares of IndusInd Bank recovered most of the early losses and ended the day down by 7%.

In news from the aviation sector, airline stocks including SpiceJet and IndiGo were locked in lower circuit limit today after the central government announced suspension of the domestic flights in the wake of coronavirus outbreak.

A government notification said that "the operation of all scheduled domestic flights (except all-cargo flights) by any aircraft operator holding an air operator certificate issued by Directorate General of Civil Aviation (DGCA) shall cease with effect from 23:59 hrs. IST on 24 March 2020. The restriction shall remain in force till 23:59 hrs. IST on 31 March 2020."

The notification added that the operation of flights by the holders of Non-scheduled operator permit and flights by private aircraft operators shall also cease with effect from 23:59 hrs. IST on 24 March 2020.

Moving on to news from the commodity space, crude oil prices rose around 4% today on hopes that the US will soon reach a deal on a US$ 2 trillion coronavirus aid package that could blunt the economic impact of the outbreak and in turn support oil demand.

On the Multi Commodity Exchange, crude oil for April delivery surged by Rs 117 to Rs 1,931 per barrel.

The US Federal Reserve on Monday rolled out an extraordinary array of programs to backstop an economy reeling from restrictions on commerce that scientists say are needed to slow the coronavirus pandemic.

Note that, crude oil prices had crashed earlier this month in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In a recent article, we have written the entire timeline showing economics of falling crude oil prices. You can check the same here: All About the 30% Crash in Crude Oil - 10 Points

Going ahead, market participants are expecting crude oil prices to remain low until OPEC+ resets oil production again.

Vijay Bhambwani, editor of Weekly Cash Alerts at Equitymaster, states that at this point in time, short selling natural gas & crude oil at significantly higher levels for the coming summer are high conviction trades.

To know more about his view and positions, you can check out his recent article here: Fed Opens Money Tap (requires subscription).

Vijay's last 11 recommendations have been profitable. He will be sharing full details of his trading system on Monday, 30 March at 5pm.

You can sign up for Vijay's upcoming event here.

Speaking of crude oil, in the video below, Ajit Dayal, founder of Quantum group, shares his views on the impact of oil price war on the Indian economy and the stock markets.

He also talks about the market crash and how to invest your hard-earned money across various assets in these difficult times.

Watch now...

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 "Sensex Ends 693 Points Higher; IT, Energy and Healthcare Stocks Rally". Click here!

  

Stock Market Updates

P&G HYGIENE at All Time High; BSE FMCG Index Up 0.5% (Today's Market)

Apr 16, 2021 03:34 PM

P&G HYGIENE share price has hit an all time high at Rs 14,100 (up 3.1%). The BSE FMCG Index is up by 0.5%. Among the top gainers in the BSE FMCG Index today are P&G HYGIENE (up 3.1%) and NESTLE (up 2.0%). The top losers include HUL and GILLETTE INDIA (down 0.1%).

Sensex Trades Marginally Higher, Dow Futures Down by 28 Points (Today's Market)

Apr 16, 2021 12:30 pm

BSE Sensex is trading up by 74 points, while the NSE Nifty is trading up by 55 points.

Indian Share Markets Open Marginally Higher; Wipro Up 7% Post Q4 Results (Today's Market)

Apr 16, 2021 09:30 am

Indian share markets open in green. The BSE Sensex opened up by 131 points, while the Nifty is trading higher by 40 points.

DCM SHRIRAM Share Price Up by 10%; BSE 500 Index Up 0.6% (Today's Market)

Apr 16, 2021 09:54 AM

DCM SHRIRAM share price is trading up by 10% and its current market price is Rs 619. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index is DCM SHRIRAM (up 10.3%). The top losers are GODREJ PROPERTIES and TVS SRICHAKRA .

HINDUSTAN COPPER Share Price Up by 5%; BSE METAL Index Up 0.8% (Today's Market)

Apr 16, 2021 09:34 AM

HINDUSTAN COPPER share price is trading up by 5% and its current market price is Rs 145. The BSE METAL is up by 0.8%. The top gainers in the BSE METAL Index is HINDUSTAN COPPER (up 5.2%). The top losers is COAL INDIA (down 0.2%).

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

Apr 16, 2021 09:30 AM

WIPRO share price is trading up by 5% and its current market price is Rs 453. The BSE IT is up by 0.6%. The top gainers in the BSE IT Index is WIPRO (up 5.0%). The top losers is INFOSYS (down 0.1%).

View More Indian Share Market News

Most Popular

India: Recovery Stalled by Vaccine Games?(The Honest Truth)

Apr 13, 2021

Ajit Dayal on how India's vaccine strategy will impact the markets.

4 Stocks to Make Your Portfolio Immune to the Second Covid Wave(Profit Hunter)

Apr 6, 2021

Rather than predicting the market, successful investing is more about preparing well and placing your bets accordingly.

A Stock with 700% Return Potential Comes with Additional Payoffs(Profit Hunter)

Apr 15, 2021

Narayana Murthy was one of the first unicorn founders to get the backing of this entity...

Why Did the Market Crash on Monday?(Fast Profits Daily)

Apr 13, 2021

In this video, I'll you what I think is the real reason behind yesterday's market crash.

A Unique Sector for Short-Term Profits(Fast Profits Daily)

Apr 12, 2021

This ignored sector could deliver big short-term profits.

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


Apr 16, 2021 (Close)

MARKET STATS