X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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 Day in Green; Energy Stocks Top Gainers
Tue, 24 Apr Closing | Parth Parekh, TM Team

After opening the day in green, share markets in India witnessed positive trading activity throughout the day and ended the day deep in green. Sectoral indices too ended the day in green, with stocks in the energy sector and stocks in the capital goods sector leading the gains.

At the closing bell, the BSE Sensex stood higher by 166 points (up 0.5%) and the NSE Nifty closed up by 30 points (up 0.3%). The BSE Mid Cap index ended the day flat, while the BSE Small Cap index ended the day down by 0.1%.

Asian stock markets too finished in green. As of the most recent closing prices, the Hang Seng was up by 1.2% and the Shanghai Composite was up by 2%. The Nikkei 225 was up by 0.9%. Meanwhile, European markets too were trading on a positive note. The FTSE 100 was up by 0.3%, The DAX, was up by 0.6% while the CAC 40 was up by 0.2%.

The rupee was trading at Rs 66.33 against the US$ in the afternoon session. Oil prices were trading at US$ 68.99 at the time of writing.

--- Advertisement ---
How to Use This Proven "Strategy" to Generate Real Wealth?

As an investor, this proven strategy will give you an incredible advantage to generate real wealth.

We're talking about investing in small cap stocks, which I believe, is one of the best ways for regular investors to retire rich.

All you have to do is know how to find the best small cap stocks that could make you potentially big returns.

Interested?

Then click here to see yourself how our small cap stocks recommendation service could guide you on that path.

And there's more good news for you…

Until 27th April, you also have a unique opportunity to claim one-year Access to our extremely successful small cap stock recommendation service…Virtually Free!

Click here for full details…
------------------------------

In news from stocks in the IPO space, ICICI Securities share price was in focus today after the stock market regulator has sought details of a large investment made by ICICI Prudential Mutual Fund (ICICI MF) in the flop IPO of affiliate ICICI Securities Ltd.

ICICI Securities had to cut its IPO size to Rs 35 billion from the original target of Rs4,017 crore because of poor investor interest. Of this, a large chunk was bought by ICICI MF.

The Rs 40.2 billion initial public offering (IPO) of ICICI Securities could only manage 78% subscription. However, including anchor allotment, the issue received a total of 88% subscription.

One shall note that, first time in almost 3 years a firm debuted on the exchanges after getting less than 80% subscription.

ICICI Securities share price, opened the day below its issue price and ended the first day down 14.4% from its issue price.

IPO Subscription Times (2017)

One space which tests the investor's contrarian philosophy is the IPO space. The demand for IPO's has reached sky-high levels. Avenue was the first company this year to cross the 100 time subscription mark swiftly followed by CDSL and Dixon technologies lately.

The market euphoria is something similar to what was seen in 2007-08. When everyone around you is clamoring to get a piece of the IPO pie, it makes sitting tight difficult. And, why should you sit tight when stocks like Avenue Supermart lets you pocket a cool 100% gain from day 1 of the listing?

History suggests that these cases are few and far between. More than 70% of the IPOs listed in 2007 and 2008 are in the red, even today when the Sensex is at an all-time high.

This allows us to stay on the fence when it comes to investing in IPOs. But it doesn't make sense to completely ignore this space. For every Reliance Power - like issue, there have been issues like Maruti, TCS, and Jubilant Foodworks Ltd (with returns over 4,000%, 1,000% and 500% respectively) that have created immense wealth for shareholders.

A merit-based selection primarily including valuation, business, and management quality is the logical way to go about it. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often than not.

To know more, you can download our FREE report - How to Get Rich with IPOs. This guide will show you how to safely profit from the ongoing IPO rush.

Moving on to news from the chemicals sector. According to a leading financial daily, Tata Chemicals is looking at business opportunities related to the exploration and import of lithium from Bolivia to India and possibly to other countries where the company operates.

A team of senior executives from the company recently visited the South American nation, which has the largest deposits of lithium in the world, and held meetings with government officials there, two people aware of the development said.

One of India's largest Indian manufacturers of chemical, crop nutrition and consumer products, Tata Chemicals' interest in lithium is guided by the fact lithium and cobalt are the two most important commodities needed to develop batteries for electric vehicles (EVs), the thrust vehicles for automobile manufacturers in India and across the world.

At present a lithium-ion battery accounts for 40% of the total cost of an electric vehicle. Lithium has other uses such as in mobile phone batteries and solar panels.

Tapping into the potential of lithium can be a great opportunity for Tata Chemicals as demand for lithium will only increase in the coming years in the domestic market and globally.

Tata Chemicals share price ended the day down by 0.2%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Equitymaster requests your view! Post a comment on "Sensex Ends Day in Green; Energy Stocks Top Gainers". Click here!

  

Stock Market Updates

Indian Indices Trade Marginally Higher; Energy Stocks Witness Buying Interest (Today's Market)

Apr 24, 2018 12:30 pm

The BSE Sensex is trading up by 79 points, while the NSE Nifty is trading flat.

Sensex Opens Firm; Realty & FMCG Stocks Gain (Today's Market)

Apr 24, 2018 09:30 am

Indian share markets open higher with Sensex trading up by 151 points, while the Nifty is trading up by 18 points.

Indian Indices Continue Momentum, Oil Prices in Focus, and Top Stocks in Action (Today's Market)

Apr 24, 2018 Pre-Open

IPO activity waiting to burst out, crude prices on an uptrend, and other stocks in action to watch out today..

View More Indian Share Market News

Most Popular

Why India is Short of Cash Again(Vivek Kaul's Diary)

Apr 19, 2018

It is basically a supply problem with not enough currency going around in the financial system.

A Sure Shot Way to Predict a Multibagger Stock(The 5 Minute Wrapup)

Apr 17, 2018

The imaginary stock price of IIM Ahmedabad could have rivalled the returns from Titan and Asian Paints thanks to its enormous pricing power.

How Small Caps Can Change the Way You Eat, Sleep, and Drive(Sector Info)

Apr 11, 2018

How you can increase your odds of seizing multibagger stocks and rake in the moolah by investing in small cap stocks.

Why Buffett Would Scowl at My Latest Recommendation...(Smart Contrarian)

Apr 18, 2018

Warren Buffett's advice that may not be so relevant in these dynamic times, and could do investors more damage than good when taken at the face value.

This is How a Smart Robo-Advisor can Help You Chart Your Asset Allocation...(Outside View)

Apr 16, 2018

PersonalFN explains how a dependable robo-advisory platform can help you create your personalized asset allocation plan

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Apr 24, 2018 (Close)

MARKET STATS