Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


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

Sensex Opens Flat; Tata Steel Jumps 4% Post Q4 Results
Thu, 6 May 09:30 am | Yash Vora, TM Team

Asian share markets rose in early trade today after data released overnight showed the US services sector added hundreds of thousands of jobs last month.

The Nikkei is trading higher by 1.7% and the Hang Seng is trading up by 0.1%. The Shanghai Composite is down 0.2%.

In US stock markets, Wall Street indices ended higher overnight with the Dow Jones Industrial Average ending at a record high, driven by energy and other economically sensitive sectors.

The Nasdaq, on the other hand, gave up early gains and closed 0.4% lower.

Back home, Indian share markets have opened on a flat note.

A total of 25 companies including Hero MotoCorp, Adani Power, Adani Transmission, Coforge, and Tata Consumer are set to release their quarterly results today.

The BSE Sensex is trading up by 72 points. Meanwhile, the NSE Nifty is trading higher by 33 points.

Bajaj Auto is among the top gainers today. Sun Pharma, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.4%. The BSE Small Cap index is trading higher by 0.2%.

--- Advertisement ---
The 20 Greatest Outlier Stocks

There's a very tiny minority of listed companies that have the potential to be the greatest wealth creators for Indian investors.

Having studied the Indian stock markets for 20 years now, our top analyst and Co-Head of Research, Tanushree Banerjee has zeroed in on the ultimate list of 20 such stocks.

On June 21 at 5pm, Tanushree will be revealing the full details on these stocks for Indian investors.

You Register your FREE spot for her Forever Stocks event with this link.

Sectoral indices are trading on a mixed note with stocks in the metal sector and power sector witnessing buying interest.

IT stocks and realty stocks, on the other hand, are trading in red.

Shares of Supreme Industries and Tata Steel hit their 52-week highs today.

The rupee is trading at 73.84 against the US$.

Gold prices are trading up by 0.3% at Rs 47,121 per 10 grams.

Crude oil prices declined today as gasoline inventories in the United States, the world's largest oil consumer, rose for a fifth consecutive week although a draw in crude stockpiles helped to underpin prices.

Speaking of stock markets, in his latest video for Fast Profits Daily, Brijesh Bhatia explains how you can make trading profits in the market when the Nifty is stuck in a range.

Nifty has been rangebound ever since the month of February.

--- Advertisement ---
WATCH: FULL Replay of Our Urgent Broadcast

The full replay of our urgent broadcast on India's Revival is available for a limited time now.

In case you missed watching our broadcast LIVE...

You can see all the important highlights from our broadcast in this replay.

Please note that we may take this replay off the internet any minute.

So it is highly recommended you watch it immediately.

Click Here to Watch the Replay NOW

As per Brijesh, the recent downtrend may have been stooped by the bulls, but they don't seem to be strong enough to take the markets to new least in the short term.

So, what should you do? How do you trade the market when the index is stuck in a range? Brijesh answers these questions in the video below.

Tune in to find out more:

In news from the banking sector, the government on Wednesday cleared a proposal for strategic disinvestment of IDBI Bank, boosting efforts to meet its ambitious Rs 1.75 lakh crore disinvestment target for this fiscal year.

The proposal was approved by the Cabinet Committee on Economic Affairs chaired by Prime Minister Narendra Modi.

The proposal involves the sale of a majority stake in the bank jointly by the government and Life Insurance Corporation of India (LIC), along with management control.

The government and LIC own 45.5% and 49.2% stake, respectively, in IDBI Bank, giving them a combined stake of more than 94%.

LIC is currently the promoter of IDBI Bank with management control after the government sold its majority stake to the state-run insurance giant in 2019.

Reports state that the government and LIC may not fully sell their stakes and instead retain minority holdings post the strategic disinvestment.

Earlier this week on Monday, IDBI Bank reported a full-year profit for the first time in five years at Rs 12.6 bn for 2020-21.

In the March quarter, the bank reported a nearly four-fold jump in net profit to Rs 5.1 bn due to tax refund and higher net interest income.

How the above stake sale pans out remains to be seen. Meanwhile, we will keep you updated on the latest news from this space.

BREAKING: It's Good Time to Invest in Gold, but Just Don't Go Blindfolded

Moving on to news from the automobile sector, Tata Motors is among the top buzzing stocks today.

The Competition Commission of India (CCI) has ordered a detailed probe against Tata Motors for alleged abuse of its dominant position with respect to dealership agreements.

The order has come on two complaints filed against Tata Motors, Tata Capital Financial Services and Tata Motors Finance (opposite parties).

The CCI observed that the complainants are primarily aggrieved that Tata Motors has imposed unfair terms and conditions in the dealership agreement for commercial vehicles in abuse of its dominant position.

The CCI has directed its Director General (DG), the investigation arm, to probe the matter in detail.

The CCI also said that it was not examining the conduct of Tata Capital and Tata Motors Finance, or the agreements executed by them with the dealers for channel financing, which do not appear to command any significant market power in verticals they operate in.

Regarding the allegation that the dealership agreement provides that the dealer shall not start, acquire or indulge in any new business even if it is not related to the automobile industry, CCI said the same appears to be unduly restrictive and expansive in its coverage and interferes with the freedom of trade.

Tata Motors share price has opened the day up by 0.2%.

Speaking of Tata Motors, note that on a year to date basis, share price of the automobile manufacturing company is up 62% and over the past one year, it has gained a whopping 301% as can be seen from the chart below.

How shares of the company perform in the coming months remains to be seen.

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 Opens Flat; Tata Steel Jumps 4% Post Q4 Results". Click here!


Stock Market Updates

Sensex Rises Over 100 Points, Dow Futures Trade Flat (Today's Market)

Jun 11, 2021 12:30 pm

BSE Sensex is trading up by 187 points, while the NSE Nifty is trading up by 36 points.

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 11:20 AM

CIPLA share price has hit an all time high at Rs 982 (down 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (down 0.4%) and SANOFI INDIA (up 0.4%). The top losers include ERIS LIFESCIENCES and IPCA LABS (down 0.1%).

MPHASIS Share Price Up by 5%; BSE IT Index Up 0.8% (Today's Market)

Jun 11, 2021 10:30 AM

MPHASIS share price is trading up by 5% and its current market price is Rs 2,069. The BSE IT is up by 0.8%. The top gainers in the BSE IT Index are MPHASIS (up 5.0%) and ECLERX SERVICES (up 20.0%). The top losers are WIPRO (down 0.4%) and FIRSTSOURCE SOLUTIONS (down 3.6%).

WIPRO at All Time High; BSE IT Index Up 0.5% (Today's Market)

Jun 11, 2021 09:44 AM

WIPRO share price has hit an all time high at Rs 556 (down 0.3%). The BSE IT Index is up by 0.5%. Among the top gainers in the BSE IT Index today are WIPRO (down 1.2%) and L&T INFOTECH (up 1.2%). The top losers include HEXAWARE TECHNOLOGIES and PERSISTENT SYSTEMS (down 0.2%).

CIPLA at All Time High; BSE HEALTHCARE Index Up 0.3% (Today's Market)

Jun 11, 2021 09:44 AM

CIPLA share price has hit an all time high at Rs 979 (up 0.3%). The BSE HEALTHCARE Index is up by 0.3%. Among the top gainers in the BSE HEALTHCARE Index today are CIPLA (up 0.3%) and ABBOTT INDIA (up 0.2%). The top losers include SUN PHARMA ADV. RES. (down 0.1%) and WOCKHARDT (down 0.1%).

Sensex Opens 250 Points Higher; Coal India & Power Grid Top Gainers (Today's Market)

Jun 11, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 248 points, while the Nifty is trading higher by 75 points.

View More Indian Share Market News

Most Popular

Hotel Stocks Will Reward Investors(Fast Profits Daily)

Jun 8, 2021

This is why I'm bullish on the hotel and hospitality sector.

Don't Break These 5 Intraday Trading Rules(Fast Profits Daily)

Jun 1, 2021

To become a better intraday trader, follow these rules religiously.

Is the RBI's 'Bubble Talk' Signalling a Market Crash?(Profit Hunter)

May 31, 2021

Is the Indian central bank correct in warning you about a market crash?

Rs 2 Trillion Stimulus Coming to a Stock Market Near You(Profit Hunter)

Jun 2, 2021

Get ready to profit from a massive stimulus that you've never seen before.


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


Jun 11, 2021 (Close)