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?  

Broad based rally in the markets
Thu, 17 Apr 11:30 am

After opening on a mixed note, the Indian Indices are trading well above the dotted line in the morning. All sectoral indices are trading in the green. The buying interest is the highest in software and auto stocks.

The BSE-Sensex is trading up 185 points and the NSE-Nifty is trading up 56 points. The BSE Mid Cap index is trading up 0.8% and the BSE Small Cap index is trading up 1.1%. The rupee is trading at 60.38 to the US dollar.

Software stocks are trading positive today. HCL Technologies and Wipro Ltd are leading the gainers. India's fourth largest software firm HCL Technologies has announced third quarter results for FY14 (the company has a June year ending). The results have surpassed market expectations. HCL's Application Services business registered a robust performance led by its Digital Systems Integration proposition on the discretionary side and its ALT ASM business on the non-discretionary side in this quarter. The company's revenue has risen by 2% QoQ to Rs 83.5 bn. The company's EBIT has expanded by 6.1% sequentially and 44.5% YoY resulting in a healthy EBIT margin of 24.6%. Its consolidated net income for the quarter has risen to Rs 16.2 bn from Rs 10.2 bn in the same period last year. There is a sequential (QoQ) growth of 8.5% in profit after tax (PAT). HCL Tech is trading 1.3% up today.

The Reserve Bank of India (RBI) has taken an important decision regarding the country's forex rate. The RBI has suggested setting up an independent body to recommend a benchmark forex rate. This, the RBI believes, will reduce the chance of forex, manipulation by banks. The RBI has directed Fixed Income Money Market and Derivatives Association of India (FIMMDA) and Foreign Exchange Dealers Association of India (FEDAI) to take necessary steps to act as administrators of the Indian rupee interest rate and the forex rate respectively. The benchmark setting process is currently plagued with conflicts of interest due to the corporate governance structure of the two institutions. This is an important development after the manipulation of the London Interbank Overnight Rate (LIBOR) had come to light in June 2012. The suggestions will help to prevent such manipulation in the Indian forex markets.

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 "Broad based rally in the markets". Click here!

  

Related Views on News

HCL TECHNOLOGIES Announces Quarterly Results (3QFY21); Net Profit Up 35.1% (Quarterly Result Update)

Jan 18, 2021 | Updated on Jan 18, 2021

For the quarter ended December 2020, HCL TECHNOLOGIES has posted a net profit of Rs 40 bn (up 35.1% YoY). Sales on the other hand came in at Rs 193 bn (up 6.4% YoY). Read on for a complete analysis of HCL TECHNOLOGIES's quarterly results.

HCL TECHNOLOGIES 2019-20 Annual Report Analysis (Annual Result Update)

Dec 29, 2020 | Updated on Dec 29, 2020

Here's an analysis of the annual report of HCL TECHNOLOGIES for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of HCL TECHNOLOGIES. Also includes updates on the valuation of HCL TECHNOLOGIES.

HCL TECHNOLOGIES Announces Quarterly Results (4QFY20); Net Profit Up 24.4% (Quarterly Result Update)

May 7, 2020 | Updated on May 7, 2020

For the quarter ended March 2020, HCL TECHNOLOGIES has posted a net profit of Rs 32 bn (up 24.4% YoY). Sales on the other hand came in at Rs 186 bn (up 16.2% YoY). Read on for a complete analysis of HCL TECHNOLOGIES's quarterly results.

HCL TECHNOLOGIES 2018-19 Annual Report Analysis (Annual Result Update)

Sep 9, 2019 | Updated on Sep 9, 2019

Here's an analysis of the annual report of HCL TECHNOLOGIES for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of HCL TECHNOLOGIES. Also includes updates on the valuation of HCL TECHNOLOGIES.

More Views on News

Most Popular

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years (Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

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 IT


Feb 24, 2021 (Close)

S&P BSE IT 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS