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 1,411 Points Higher; Banking and Finance Stocks Witness Buying
Thu, 26 Mar Closing

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 their rally during closing hours and ended on a strong note.

Benchmark indices rallied for the third day, encouraged by stimulus packages by large economies in order to soften the economic blow from the lockdown of businesses and offices.

At the closing bell, the BSE Sensex stood higher by 1,411 points (up 4.9%) and the NSE Nifty closed higher by 336 points (up 4%).

The BSE Mid Cap index ended up by 3.5%, while the BSE Small Cap index ended the day up by 3.7%.

On the sectoral front, gains were largely seen in the telecom sector and banking sector.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 0.7% and the Shanghai Composite was down by 0.6%. The Nikkei 225 was down 4.5%.

The rupee is currently trading at 75.34 against the US$.

--- Advertisement ---
Automobile Sector's Colossal Disruption Could Make You a Fortune

During any major disruption in a sector, fortunes are created.

And now, we are at the cusp of a major disruption that the automotive sector will experience.

It is the electric vehicles gold rush.

At Equitymaster, we have unearthed a hidden way to ride the 15x EV opportunity so that you could take home potentially life-changing gains in the long run.

You can get all details of the hidden way in our upcoming special online event.

YES, Register Me for FREE
------------------------------

The domestic currency rose sharply against the US$ today, tracking strong gains in domestic equity markets. After opening at 75.88 per dollar, the rupee moved to 75.17 at day's high, as compared to the previous close of 76.10.

Earlier this week, the rupee had hit a record low of 76.32.

Gold prices are currently trading up by 0.2% at Rs 42,275.

Note that the Sensex saw its biggest one-day fall on Monday 23 March. The broader NSE Nifty also saw its sharpest one-day fall, 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.

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.

Also, a few days ago, we asked you to participate in Equitymaster's "State of the Markets" poll.

The poll asked you to vote on what holds next for the Indian stock markets amid the gloomy economy and coronavirus fears.

Many of you voted for the same and we thank you for participating. The numbers are in and here are the results.

FREE Event: Discover Your First Stock for a Potential Rs 7 Crore in Long-term Wealth

In news from the macroeconomic space, addressing the media during market hours today, Finance minister Nirmala Sitharaman announced a slew of measures to deal with the economic distress caused due to the coronavirus pandemic and the subsequent lockdown announced to deal with the situation.

The FM announced the Prime Minister Gareeb Kalyan scheme worth Rs 1.7 trillion, which will have two parts - cash transfer and food security.

Here are some key takeaways from the press conference:

FM announced a Rs 1.7 trillion fiscal stimulus plan to aid the economy's fight against the rapidly-spreading coronavirus pandemic. The relief measures included direct cash transfers and food security-related steps aimed at giving relief to the poor workers.

Under this plan, 800 million poor people in the country will get 5 kg of rice or wheat per month free of cost, in addition to the 5 kg they already get. In addition to rice or wheat, each household will get 1 kg of preferred dal for free for the next three months.

The government will pay EPF contribution, both of employer and employee, for 3 months for all those establishments with less than 100 employees out of which 90% earn less than Rs 15,000 per month.

Women Jan Dhan account holders will get an ex-gratia amount of Rs 500 per month for 3 months to run household during this period.

Farmers will get the first instalment of the PM-KISAN payment of Rs 2,000 soon. As per reports, this move will benefit 87 million farmers across the country.

Rs 310 billion welfare fund will be utilized for building and construction workers.

The FM also announced a medical insurance scheme for health workers. This Rs 5 million per individual insurance plan would be applicable to all health workers that includes sanitation and ASHA workers, paramedics, doctors, nurses.

Note that, the finance minister had already announced some measures earlier this week on Tuesday, that included extension of tax deadlines, easing minimum balance norms for savings account, and increasing threshold of insolvency filing to Rs 10 million from Rs 0.1 million.

Moving on to news from the pharma sector, shares of Caplin Point were locked in the 20% upper circuit limit, after the company's arm Caplin Steriles received final approval from the US drug regulator for Verapamil Hydrochloride injection.

According to IQVIA (IMS Health), Verapamil Hydrochloride injection USP had US sales data of approximately US$ 28 million for the 12-month period ending December 2019.

Caplin Steriles has developed and filed 15 ANDAs on its own and with partners, with 7 approvals so far. The company is also working on a portfolio of 35 simple and complex injectable and ophthalmic products, to be filed over the next 4 years.

Meanwhile, Cipla has received final approval for its Abbreviated New Drug Application (ANDA) for Esomeprazole for Oral Suspension 10mg, 20mg and 40mg from the United States Food and Drug Administration (USFDA).

Cipla is the first company to file for the 10mg strength.

The above drug is AB-rated generic therapeutic equivalent version of AstraZeneca Pharmaceutical's Nexium.

Cipla share price ended the day up by 3.6%.

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 1,411 Points Higher; Banking and Finance Stocks Witness Buying". Click here!

  

Stock Market Updates

Sensex Jumps 500 Points, Nifty Above 17,100; Metal & Automobile Stocks Rally (Today's Market)

Dec 1, 2021 10:30 am

Indian share markets trade firm with the Sensex up by 554 points, while the Nifty is trading higher by 151 points.

SGX Nifty Up 51 Points, India's Fiscal Deficit, Anand Rathi Wealth IPO, and Buzzing Stocks Today (Today's Market)

Dec 1, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks(Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

How to Find Your Next 10-Bagger in this Market(Profit Hunter)

Nov 19, 2021

The #1 make or break factor in your portfolio you shouldn't ignore.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing.(Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Dec 1, 2021 (Close)

MARKET STATS