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?  

Markets start on a negative note
Fri, 16 Apr 09:30 am

The Indian markets have started today's session on a negative note. The benchmark indices opened at the breakeven mark, stumbled into the red and have not been able to move into the positive since then. Other key Asian markets are trading in the red with Japan (down 1.4%) leading the pack of losers. The US markets closed higher by 0.2% yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading weak with banking majors bearing the brunt of selling activity. However, auto and software heavyweights are finding favour. The BSE-Sensex is trading lower by around 80 points, while the NSE-Nifty is down by about 25 points. The rupee is trading at 44.44 to the US dollar.

Steel stocks have opened the day on a positive note. Gainers here include NMDC and JSW Steel. As per a leading business daily, SAIL is in talks with South Korean steel giant Posco and Japan's Kobe Steel to jointly set up steel plants. Finex from Posco and ITMK3 from Kobe Steel are new iron making technology that SAIL could benefit from. FINEX technology uses iron ore fines and low quality coal to produce high grade steel. SAIL could further process it to make specialised steel. Similarly, ITMK3 (Iron Making Technology Mark Three) uses iron ore fines and thermal coal to produce high grade steel. The final decision on the joint ventures is yet to be made and will hinge on techno economic viability. It may be noted that Posco has recently approached SAIL to set up a Rs 150 bn steel plant in Bokaro. This is after over 4 years of delay due to land acquisition issues in its Rs 540 bn Orissa project.

Energy stocks have opened the day on a positive note. Gainers here include Castrol and Petronet LNG. Castrol has announced its 1QCY10 results. Its topline increased by 29%YoY during 1QCY10 due to higher volumes as well as realisations. The volume growth was driven by its investments in brand and marketing, especially the program built around Castrol's global FIFA World Cup 2010 sponsorship. Operating margins expanded to 27%, from 23% in 1QCY09 on the back of a 5% (as a percentage of sales) decline in raw material costs. Besides favorable cost of materials, a combination of premium product mix and higher unit realisation also helped. Other income declined by 15% during the quarter. Castrol's bottomline registered a whopping 54% YoY growth during 1QCY10 due to expansion in operating margins.

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 "Markets start on a negative note". Click here!

1 Responses to "Markets start on a negative note"

Hoonjan

Apr 16, 2010

This is the fourth day in a row that market is in red. I expect the market to cover up some gound before it closes so as to end this week in red but not deep to bone.

Like 
  
Equitymaster requests your view! Post a comment on "Markets start on a negative note". Click here!

Stock Market Updates

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

Mar 4, 2021 03:12 PM

TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BALRAMPUR CHINI Share Price Up by 10%; BSE 500 Index Down 0.3% (Today's Market)

Mar 4, 2021 03:00 PM

BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .

INDIAN ENERGY EXCHANGE Share Price Up by 7%; BSE POWER Index Up 0.9% (Today's Market)

Mar 4, 2021 02:48 PM

INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).

ITD CEMENTATION INDIA Share Price Up by 8%; BSE REALTY Index Up 0.3% (Today's Market)

Mar 4, 2021 02:36 PM

ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).

Sensex Trades Over 300 Points Lower; Dow Futures Down by 101 Points (Today's Market)

Mar 4, 2021 12:30 pm

BSE Sensex is trading down by 385 points, while the NSE Nifty is trading down by 103 points.

View More Indian Share Market 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.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

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...

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


Mar 4, 2021 (Close)

MARKET STATS