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
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian markets trade in the red
Tue, 29 Apr 11:30 am

After opening on a firm note, the Indian Indices have plunged on account of profit booking. Heavy selling is seen in Banking and Capital goods stocks.

The BSE Sensex is trading down 139 points and the NSE-Nifty is trading down 37 points. The BSE Mid Cap index is trading flat and the BSE Small Cap index is trading up 0.1%. The rupee is trading at 61.60 to the US dollar.

Majority of Investment and Finance stocks are trading in red with Shriram transport and Cholamdalam investment leading the pack of losers. IDFC declared its results for the fourth quarter (4QFY14) and the financial year 2013-14. Consolidated income from operations declined 0.6% YoY in 4QFY14 but grew by 7.8% YoY in FY14, on the back of 5.7% YoY growth in advances. Disbursements fell by 7.9% YoY, while sanctions dropped by 1.1% YoY in FY14 on account of a persistent slowdown in infrastructure activity. Net interest margins (NIM) decreased marginally to 4.0% from 4.1% in FY13. Other income saw a whopping 83% YoY increase to Rs 180 mn during FY14 primarily on the back of higher income from asset management and income from principal gains. Bottom line declined by 50.9% YoY in 4QFY14 and by 1.8% in YoY FY14. The decline was on account of weak income growth and higher provisioning. IDFC is trading down 0.7% today.

Food and Tobacco stocks are trading mixed today. Golden Tobacco and VST Industries are leading the gainers. Sterling Biotech and Ruchi Soya Industries are leading the losses. According to a leading business daily, ITC plans to set up standalone exclusive outlets for the sub brands it sells through the flagship Wills Lifestyle stores. The sub brands include Wills Sports, work wear sub brand Wills Classic, and exclusive men and women wear stores. The company feels that the potential for such outlets is huge even in smaller towns, especially for casual wear. In addition, the company plans to make a foray into the e-commerce space. It has recently introduced the Wills Lifestyle e-store and plans to double its online revenue every year. The company is already selling through online sites such as Jabong, Myntra and Flipkart. ITC's lifestyle retailing business grew by 20% YoY in FY14. ITC is trading down 1% today.

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 "Indian markets trade in the red". Click here!


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