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 lose further ground
Thu, 30 Apr 01:30 pm

After having opened the day on a negative note, Indian stock markets lost further ground and continued to trade in the red in the post-noon trading session. Metal & IT stocks are the biggest losers while consumer durable and oil & gas stocks are trading flat with marginal gains.

BSE Sensex is down 298 points and NSE-Nifty is down by 83 points. On the other hand, BSE Mid Cap is trading down by 0.49% while BSE Small Cap index is trading down by 0.56%. The rupee is trading at 63.59 to the US dollar.

Banking stocks are trading weak today with Indian bank and Bank of Baroda leading the pack of losers. The RBI has levied a penalty of Rs 1.5 crore each on three banks namely Dena Bank, Oriental Bank of Commerce and Bank of Maharashtra for flouting KYC norms. Besides the banking regulator has also reprimanded 8 other banks to put appropriate measures in place in order to ensure strict compliance. While the validity of the transaction conducted by these 3 banks remains unquestioned it is the deficiency in following the compliance rules that has led RBI to levy the fine. We reckon such a step would make banks more serious in adhering to the compliance mechanisms that are already in place.

Healthcare stocks are trading mixed with Ranbaxy and Biocon leading the gains. However, Dr Reddy's and Elder Pharma are trading weak. Biocon announced its 4QFY15 results today. Sales increased by 14.5% YoY to Rs 8.54 bn during the quarter. Net profits stood at Rs 2 bn registering a sharp improvement of 78% YoY aided by exceptional gains of Rs 1 bn arising from sale of shares in Syngene. Operating profits were up 4.7% YoY, however, margins succumbed due to a 93% YoY increase in R&D costs.

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 "Markets lose further ground". Click here!

  

Views on News

ITI Mid-Cap Fund: Investing in Potential Midcap Companies for Growth (Outside View)

Feb 26, 2021

PersonalFN analyses the features of ITI Mid-Cap Fund and explains the potential this fund has to offer to its investors.

NSE Glitch: Why Did the Market Go Up? (Fast Profits Daily)

Feb 26, 2021

In today's video, I'll discuss why thew stock market went up on Wednesday, 24 February 2021, when the NSE had to shut trading due to a technical glitch.

My Personal Checklist for Your Trading Success (Profit Hunter)

Feb 26, 2021

You my personal trading checklist and you will be well on your way to making it big as a trader.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

Refresh Your Investment Portfolio in 2021 to Align with Your Financial Goals (Outside View)

Feb 25, 2021

Timely review of your investment portfolio is the key, to enable stable returns and work towards your envisioned financial goals during various market phases.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

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.

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 SENSEX


Feb 26, 2021 03:36 PM

MARKET STATS