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?  

Weak End to the Week
Fri, 1 Apr Closing

Indian equity markets finished the day on a weak note, despite markets correcting from their lows in the second half. At the closing bell, the BSE Sensex closed lower by about 72 points, while the NSE Nifty finished lower by 25 points.

The S&P BSE Midcap and the S&P BSE Small Cap indices however closed higher by 0.2% and 0.9% respectively.

Losses were largely seen in Bharti Airtel and TCS.

Market volatility largely seems to be on account of participants keeping an eye out for the Reserve Bank of India's (RBI) decision on rate cut in next monetary policy which is scheduled for April 5, 2016. While the market seems to be expecting a 25 basis points rate cut, Ajit Dayal, in a recent article in The Honest Truth is willing to challenge the consensus. If you want to know more about why he thinks 1% rate cut is possible, click here.

However, this is just a part of the picture. In a recent article in Vivek Kaul's diary, Vivek Kaul makes a point exactly the opposite of what Mr Dayal is making, i.e., RBI should not cut the repo rate by 1%; or at least not all at once. His reasons are equally sound - the strongest being that banks have not passed the cut in deposit rates to the lenders and that the entire thing needs to be viewed from the point of view of savers as well. To know more about Vivek's views on interest rates, please click here.

Who do you think is right - Ajit or Vivek? Click here to vote.

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.19%, while the Nikkei 225 & the Hang Seng fell 3.55% and 1.34% respectively. European markets are sharply lower today with shares in France off the most. The CAC 40 is down 1.64% while Germany's DAX is off 1.28% and London's FTSE 100 is lower by 1.01%.

Oil prices were trading at US$38.05 a barrel at the time of writing. The rupee was trading at 66.33 against the US$ in the afternoon session.

Selling activity was witnessed across majority of the IT stocks with Tech Mahinda and Mphasis ltd leading the losses. Shares of HCL Technologies finished on an optimistic note (up 1%) after it was reported that the company has agreed to acquire engineering solutions company Geometric in a share swap deal valued at US$150-200 million. HCL will acquire the 31.09% stake held by Godrej Investments and Godrej & Boyce Manufacturing Company.

For HCL, the deal will strengthen its engineering services capability, a segment that reportedly earned the company over US$1 billion revenue in 2014-15. Geometric provides services in product lifecycle management, global engineering services and offshore software development solutions. Geometric has customers like Dassault, Volvo and Aerolia, a part of the Airbus group.

HCL Technologies reported a 2.4% QoQ increase in sales and an 11.2% QoQ rise in net profits (Subscription Required) during the December 2015 quarter.

Ashok Leyland has reported an increase of 31% in March 2016 sales to 16,702 units as against 12,754 units sold in the same period of last year. The company has experienced a jump of 32% in its medium and heavy commercial vehicle (M&HCV) products' segment to 13,240 units in March 2016. The company's light commercial vehicle (LCV) segment witnessed a rise of 27% to 3,462 units during the month.

The company also recently bagged orders worth Rs 8 billion from the Indian armed forces. It will supply advanced-technology products-450 units of Field Artillery Tractor (FAT) 6x6 and other similar Super Stallion vehicles; and 825 units of Ambulance 4x4.

The orders for Field Artillery Tractor (FAT) 6x6 and Ambulance 4x4 are in keeping with the momentum witnessed recently in the area of up gradation of technology and resources by the defense forces. The company's products also include buses, trucks, engines & special vehicles.

Ashok Leyland finished up by 1.5%. The stock has moved up by 30% in the past one year. Ashok Leyland is a strong player in the medium and heavy commercial vehicles (MHCV) space. In a recent edition of The 5 Minute Wrap Up Premium, we have discussed the performance of Ashok Leyland (Subscription Required) in recent times.

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 "Weak End to the Week". Click here!


Views on News

The Best Stocks in a Volatile Market podcast (Views On News)

Mar 5, 2021

Rahul Shah on the qualities that make for a good investment in an up and down market.

A New Super Cycle in Metals? (Fast Profits Daily)

Mar 5, 2021

In this video, I'll tell you if there is huge money to be made in metals or if there is more to the super cycle story.

Mirae Asset Corporate Bond Fund: Aiming for Growth with Focus on Quality and Liquidity (Outside View)

Mar 5, 2021

PersonalFN analyses the features of Mirae Asset Corporate Bond Fund and explains the potential this fund has to offer to its investors.

Charge Your Portfolio with this Smallcap Proxy Play on India's EV Revolution (Profit Hunter)

Mar 5, 2021

This could be the biggest wealth creator of the decade.

Inflation & Your Investments (Fast Profits Daily)

Mar 4, 2021

Inflation is the buzz word in the world of finance these days. It impacts all of us. Here's how it affects your investments.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

Gold 65,000 and Silver 84,000 in 2022

Feb 26, 2021

In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot 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


Mar 5, 2021 (Close)