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 will remain closed on 6th April, 2020 on account of Mahavir Jayanti.

Sensex Ends 490 Points Higher; Oil & Gas and Telecom Stocks Witness Buying
Wed, 24 Apr Closing | Monish Vora, TM Team

Indian share markets continued to witness buying interest and ended their trading session on a positive note. Gains were largely seen in the oil & gas sector and telecom sector, while stocks from the auto sector witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 490 points (up 1.3%) and the NSE Nifty closed higher by 150 points (up 1.3%). Both, the BSE Mid Cap index and the BSE Small Cap index ended the day up by 0.4%.

Asian stock markets finished on a negative note as of the most recent closing prices. The Hang Seng stood down by 0.5% and the Nikkei was trading down by 0.3%.

European markets were trading on a mixed note. The FTSE 100 was down by 0.4%. The DAX was trading up by 0.48%, while the CAC 40 was down by 0.2%.

The rupee was trading at 69.84 to the US$ at the time of writing.

Speaking of markets, the mood in the Indian stock market changes in a matter of months.

Till February 2019, mutual fund inflows were on a steady decline.

And that's when Tanushree had asked her readers to stay put and not give into the panic.

Holding and buying quality businesses during times of extreme pessimism goes a long way in creating long-term wealth.

The mutual fund data from the March 2019 certainly proves this point.

Rising Mutual Fund Inflows - Is the Market Correction Over?

As can be seen from the chart above, the net inflows into Equity fund in March 2019 (Rs 117 billion) are its highest levels since October 2018.

The reason could be people believing the Modi government will return to power.

Here's what Tanushree wrote about this in one of the recent editions of The 5 Minute WrapUp...

  • While we recommended to not give into panic in February 2019, this time its euphoria we're recommending against.

    Don't fall into the greed trap.

    Hold on to your safe stocks and don't go looking for overvalued stocks. Maintaining your calm when everyone is losing theirs will help you build long-term wealth.

In the news from the macroeconomic space, sovereign bonds rallied in India after the central bank said it will resume open-market purchases of debt.

The yield on the benchmark 2029 debt fell 4 basis points to 7.43%, while that on the most-traded 2028 securities was down 6 basis points.

Note that high crude oil prices and the central bank taking a less dovish path than expected had pushed up 10-year yields in recent weeks.

In the news from the global financial markets, Sri Lanka's main stock index traded at its lowest since December 2012 today.

This came as investors sold the island nation's risky assets for the second day following deadly Easter Sunday attacks that killed more than 350 people.

The Sri Lankan stock index fell 3.63% yesterday. This was its worst drop in more than seven years. This was seen due to retail panic selling in its first trading day after the attacks.

In the news from the cement sector, ACC share price was in focus today. The stock of the company witnessed selling pressure today after it reported its March quarter results yesterday.

The company reported a 38.2% rise in its consolidated profit at Rs 3.5 billion for the first quarter ended March 2019.

The company's total income during the period under review was up 10.99% at Rs 40.8 billion as against Rs 36.7 billion in the corresponding period of the previous fiscal.

The company's cement realization, which stands at Rs 4,609 per tonne, improved by only about 0.8% on a quarter-on-quarter (QoQ) basis against about 2%, on average, improvement in pan-India realization during the same period.

Apart from above, market participants were tracking Indiabulls Housing Finance share price, UltraTech Cement share price and Tata Global Beverages share price as these companies announced their Q4FY19 results today.

You can also read our recently released Q4FY19 results: HDFC Bank, Mahindra Lifespace, Reliance Industries.

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 "Sensex Ends 490 Points Higher; Oil & Gas and Telecom Stocks Witness Buying". Click here!

  

Stock Market Updates

NOCIL Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:33 PM

NOCIL share price has plunged by 5% and its current market price is Rs 68. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 13.9%) and LUPIN (up 13.4%). The top losers are NOCIL (down 5.2%) and 3M INDIA (down 5.0%).

INDIAN ENERGY EXCHANGE LTD Surges by 5%; BSE POWER Index Down 0.3% (Today's Market)

Apr 3, 2020 03:31 PM

INDIAN ENERGY EXCHANGE LTD share price has surged by 5% and its current market price is Rs 137. The BSE POWER is down by 0.3%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE LTD (up 5.4%) and RELIANCE INFRA (up 5.0%). The top losers are KALPATARU POWER (down 0.1%) and TORRENT POWER LTD (down 0.3%).

LIC HOUSING Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:27 PM

LIC HOUSING share price has plunged by 5% and its current market price is Rs 234. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are LUPIN (up 14.0%) and RAJESH EXPORTS (up 11.7%). The top losers are LIC HOUSING (down 5.2%) and MARUTI SUZUKI (down 5.4%).

AJANTA PHARMA Plunges by 5%; BSE HEALTHCARE Index Up 3.5% (Today's Market)

Apr 3, 2020 03:27 PM

AJANTA PHARMA share price has plunged by 5% and its current market price is Rs 1,414. The BSE HEALTHCARE is up by 3.5%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 14.0%) and SUN PHARMA (up 9.4%). The top losers are AJANTA PHARMA (down 5.1%) and STRIDES PHARMA SCIENCE (down 5.3%).

PERSISTENT SYSTEMS Plunges by 7%; BSE IT Index Down 2.7% (Today's Market)

Apr 3, 2020 03:25 PM

PERSISTENT SYSTEMS share price has plunged by 7% and its current market price is Rs 545. The BSE IT is down by 2.7%. The top gainers in the BSE IT Index are ORACLE FINANCIAL (up 5.0%) and ECLERX SERVICES (up 3.0%). The top losers are PERSISTENT SYSTEMS (down 7.0%) and L&T TECHONOLOGY (down 6.0%).

Sensex Falls 500 Points; Kotak Mahindra Bank & IndusInd Bank Top Losers (Today's Market)

Apr 3, 2020 12:30 pm

Indian share markets are trading on a negative note with the BSE Sensex down by 507 points, while NSE Nifty is trading lower by 134 points.

View More Indian Share Market News

Most Popular

Sorry Warren Buffett, I'm Following This Man Instead of You in 2020(The 5 Minute Wrapup)

Mar 30, 2020

This man warned of an impending market correction while everyone else was celebrating the renewed optimism in early 2020...

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

One Stock that is All Charged Up for the Post Coronavirus Rebound(The 5 Minute Wrapup)

Apr 1, 2020

A stock with strong moat is currently trading near 5-year lows.

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
Get this special report, authored by Equitymaster's top analysts, now.
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Apr 3, 2020 (Close)

MARKET STATS