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!

Read the latest Market Commentary

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

  

Stock Market Updates

BSE Small-Cap Index Closes 0.8% Up This Week; Here are Smallcaps that Gained the Most... (Today's Market)

Oct 19, 2018

Here are stocks that gained the most in BSE Smallcap this week. Read on for weekly market stats and individual stock performance.

BSE Mid Cap Index Falls 0.5% This Week; Here are Midcaps that Lost the Most... (Today's Market)

Oct 19, 2018

Here are stocks that lost the most in BSE Midcap this week. Read on for weekly market stats and individual stock performance.

BSE Sensex was Up 2.3% This Week; Here are Stocks that Gained the Most... (Today's Market)

Oct 19, 2018

Here are stocks that gained the most in BSE Sensex this week. Read on for weekly market stats and individual stock performance.

MPHASIS LTD Plunges by 5%; BSE IT Index Down 2.8% (Today's Market)

Oct 19, 2018 02:56 PM

MPHASIS LTD share price has plunged by 5% and its current market price is Rs 1,120. The BSE IT is down by 2.8%. The top gainers in the BSE IT Index are NIIT TECHNOLOGIES (up 5.1%) and NIIT LTD (up 1.4%). The top losers are MPHASIS LTD (down 5.2%) and L&T INFOTECH LTD (down 5.3%).

MAGMA FINCORP Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:56 PM

MAGMA FINCORP share price has plunged by 5% and its current market price is Rs 103. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.7%) and JET AIRWAYS (up 5.9%). The top losers are MAGMA FINCORP (down 5.1%) and PIRAMAL ENTERPRISES (down 9.7%).

TV TODAY NETWORK Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:52 PM

TV TODAY NETWORK share price has plunged by 5% and its current market price is Rs 395. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.2%) and JET AIRWAYS (up 6.4%). The top losers are TV TODAY NETWORK (down 5.1%) and L&T INFOTECH LTD (down 5.5%).

View More Indian Share Market News

Most Popular

You Can Buy Select Auto Stocks Now for Big Long-Term Returns(The 5 Minute Wrapup)

Oct 17, 2018

Irrespective of the earnings hiccups, these businesses be setting new profit records.

This Market Crash could be the Biggest Wealth Creating Opportunity Since 2008(Profit Hunter)

Oct 8, 2018

While widespread fear is the friend of a value investor, serving up bargain purchases; personal fear is an investor's biggest enemy.

IPO Market Feels the Heat of the Market Crash(Sector Info)

Oct 12, 2018

The sentiments in primary market have also deteriorated amid the stock market correction. Most listed IPOs of 2018 are trading below their issue price.

Even If IL&FS Group Brought This Correction, this is Right Time to Buy & Sit Tight!(Chart Of The Day)

Oct 12, 2018

Even if IL&FS is the culprit, it may turn out to be a hero if you buy right and sit tight.

ICICI Prudential Manufacture In India Fund: A Make In India Prodigy, Should You Invest?(Outside View)

Oct 8, 2018

PersonalFN briefly explains if you should be investing in the NFO: ICICI Prudenetial Manufacture in India Fund.

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


Oct 19, 2018 (Close)

MARKET STATS