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?  

Indian Indices Close at Lifetime Highs
Wed, 10 May Closing

After opening the day on a positive note, Indian share markets continued their uptrend and ended their day on a positive note. Gains were largely seen in the telecom sector and FMCG sector leading the gains.

At the closing bell, the BSE Sensex stood higher by 315 points (up 1.1%) and the NSE Nifty closed higher by 90 points (up 1%). The BSE Mid Cap index ended the day up by 0.9%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished mixed as of the most recent closing prices. The Hang Seng gained 0.51% and the Nikkei gained 0.29%. The Shanghai Composite lost 0.93%. European markets are also trading mixed today with shares in London leading the region. The FTSE 100 is up 0.25% while Germany's DAX is down 0.05% and France's CAC 40 is down 0.15%. The rupee was trading at 64.65 to the US$ at the time of writing.

The dream run in Indian share markets is showing little signs of coming to an end. This we say as domestic equity benchmarks BSE Sensex and NSE Nifty scaled life-time highs today.

Buying interest was seen on the back of Indian Metrological Department's (IMD) forecast of a normal rainfall this calendar year and positive cues from Asian markets.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Also, the ongoing earnings season has fueled the ongoing rally seen in domestic markets of late.

This brings us to the question of how can one make money in a rising market?

I believe a few super investors could provide the clue. These are the guys who've beaten the markets black and blue and have an eye for multi bagger stocks.

With respect to which super investors to follow, my colleague Kunal and Rohan have could be of great help courtesy their project, The Superinvestors of India.

To know more about these superinvestors and their stock picking approach, download a free copy of - The Super Investors Of India.

Moving on to the news from the commodity markets. Crude oil sought respite and witnessed buying interest today. This came after Saudi Arabia reported that it would cut supplies to Asian customers as OPEC tries to counter rising US output that is threatening to derail its attempts to end a sustained global crude glut.

As reported by Reuters, state-owned Saudi Aramco is set to reduce oil supplies to Asian customers by about 7 million barrels in June as part of OPEC's agreement to reduce production.

One shall note that crude oil is witnessing selling pressure of late on concerns of rising supplies.

Oversupply Concerns Drag Crude Oil Lower

The above oversupply is seen despite major oil producers agreeing to cut production by 1.8 million barrels per day for the first of 2017. Thus, market participants are now worried that OPEC-led production cuts may not significantly tighten the rising inventory supplies.

All eyes are now set on the upcoming meet between the OPEC and participating non-OPEC countries which is scheduled for May 25th to discuss whether to extend the curbs in oil production in the second half of this year.

More production cuts will mean curb in crude oil supplies and support Brent crude oil prices.

One shall note that crude oil prices have been remarkably silent over the last two years. Prices have remained within a tight range, rarely dropping below US$ 40 or rising above US$ 60. Volatility has crashed. If you are trading crude oil, it's critical to understand why this has occurred.

One of the issues of Vivek Kaul's Inner Circle (requires subscription) explains what has triggered the above taming in crude oil prices.

To keep a tab on the movements in crude oil and other commodities, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

And here's a note from Profit Hunter

Hindustan Unilever (HUL) is among the top gainers today on the Nifty 50 Index. Let's have a look at its chart.

The stock has been trading in a broad range of Rs 765 to 975 for two and a half years. But today, it broke out of this range to hit a new all-time high of Rs 999.

The company's parent, Unilever PLC, received a rating upgrade from a global brokerage firm. And as a result the stock surged 5% to its record high. The healthy volumes for the day indicate buying interest. The RSI indicator is also trading in bullish territory.

It remains to be seen if the stock will be able to maintain its momentum or if it will snap back to its range.

HUL at Its Lifetime High
HUL at Its Lifetime High 

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 "Indian Indices Close at Lifetime Highs". Click here!


Views on News

Mirae Asset Tax Saver Fund: Seizing Superior Growth Opportunities (Outside View)

Apr 9, 2021

PersonalFN's analysis on the features and performance of Mirae Asset Tax Saver Fund.

Time to Change Our Trading Blueprint? (Fast Profits Daily)

Apr 9, 2021

The Indian government recently announced cut backs on crude oil imports from Saudi Arabia. Does this change our crude oil trading blueprint. Find out...

An India Revival Stock I'm Bullish On... (Profit Hunter)

Apr 9, 2021

This could take India to the position of 3rd largest economy.

Key Reasons Why Mutual Funds Turned Net Buyers in March 2021 (Outside View)

Apr 8, 2021

Domestic mutual funds have turned net buyers worth Rs 2,476 crore in the Indian equity markets in March 2021 for the first time in the last 10 months.

The Indians Are Coming (Fast Profits Daily)

Apr 8, 2021

In this video, I'll tell you why the Indian consumer has started to take the price of gold and silver higher.

More Views on News

Most Popular

A Critical Update on the Market (Fast Profits Daily)

Mar 30, 2021

In this video, I'll tell you why I am recommending caution in the market at this time.

My Recent Recommendation Will Profit from the Global Supply Chain Crisis (Profit Hunter)

Mar 31, 2021

A tiny chemical company, started in the Licence Raj era, is a great example of a new wealth creating opportunity.

My Stock Trading Strategy (Fast Profits Daily)

Mar 31, 2021

In this video I'll show you exactly how I go about picking stocks for trading.

What You Need to Find Hundred Baggers (Profit Hunter)

Mar 30, 2021

100 baggers of the last decade share this common trait. Here's how to use it to nail future multibaggers.


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


Apr 9, 2021 (Close)