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?  

IT & banking stocks trade strong
Thu, 9 May 01:30 pm

Indian share markets returned to positive territory but remained close to the dotted line in the post-noon trading session. Majority of the sectoral indices are trading positive with IT, banking and capital goods stocks being the major gainers. pharma, oil and gas and metal are among the few stocks trading in the red.

BSE-Sensex is up 20 points and NSE-Nifty is trading up 7 points. Both BSE Mid Cap and BSE Small Cap indices are trading up by 0.2% each. The rupee is trading at 54.2 to the US dollar.

Majority of food & tobacco stocks are trading in the green with Godfrey Philips and Golden Tobacco being the major gainers. However, GSK Consumer and Tata Coffee are languishing in the red. As per a leading financial daily, Uttar Pradesh has cut VAT rates on cigarette/cigar from the present 50% to 25%. This is expected to reduce the tax burden on cigarette companies operating in the state. The state government had raised the VAT on cigarette/cigar and tobacco products from 12.5% to 50%, last year.

Most of the PSU banking stocks public sector banking stocks are trading in green with Punjab National Bank (PNB) and Union Bank leading among the pack of gainers. PNB declared March 2013 results. Net profits declined by 21% YoY for Q4FY13. Net-interest income grew by 14.2%. The non-performing loans rose to 4.27% from 2.93% in the year-ago period. The bank is focusing more towards its credit quality and hence its loan book witnessed slower growth of just 5% YoY. On QoQ basis the bank's capital adequacy ratio (CAR) has grown to 12.7%.

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 "IT & banking stocks trade strong". Click here!


Related Views on News

PNB Announces Quarterly Results (1QFY21); Net Profit Down 69.7% (Quarterly Result Update)

Aug 31, 2020 | Updated on Aug 31, 2020

For the quarter ended June 2020, PNB has posted a net profit of Rs 3 bn (down 69.7% YoY). Sales on the other hand came in at Rs 206 bn (up 57.5% YoY). Read on for a complete analysis of PNB's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

PNB Announces Quarterly Results (2QFY20); Net Profit Up 111.2% (Quarterly Result Update)

Nov 8, 2019 | Updated on Nov 8, 2019

For the quarter ended September 2019, PNB has posted a net profit of Rs 5 bn (up 111.2% YoY). Sales on the other hand came in at Rs 133 bn (up 7.8% YoY). Read on for a complete analysis of PNB's quarterly results.

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.


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


Feb 26, 2021 (Close)