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?  

Markets move deep into the red
Thu, 12 May 01:30 pm

The benchmark indices in the Indian stock market have lost ground in the last two hours of trade and are currently trading in the red. Stocks from Metal, Banking and Software space are trading weak, while those from Realty space are trading firm.

The BSE-Sensex is down 100 points while NSE-Nifty is trading 34 points below the dotted line. Both BSE Midcap and BSE Small cap indices are down 0.2% each. The rupee is trading at 44.86 to the US dollar.

Engineering stocks are trading mixed with AIA Engineering, Shanthi Gears and Emco Ltd leading the pack of gainers. However, TRF Ltd and Welspun Corporation are trading weak. As per a leading financial daily, BHEL has signed a provisional deal of Rs 15 bn with the government of Iraq with a purpose to engage with oil and gas rich countries in West Asia that has more than 50% of world's proven reserves of crude oil. The deal will see BHEL supply 10 gas turbines of 126 MW each to Iraq. The order can increase to Rs 40 bn depending upon the scope of the work. The deal has come close to the heels of India's strategic decision to revive energy ties with Iran. The crude oil supply from Iraq will lead to further diversification our energy. India imports US$ 10 bn worth of oil from Iraq. It may be noted that BHEL is trading flat at the time of writing.

The Central Statistics Organization (CSO) has reported an increase of 7.3% YoY for India's industrial production (IIP) in March 2011. This compares to an upwardly revised 3.65% growth a month ago, thus soothing concerns of a slowdown in the economy. The actual growth numbers are above expectations and will allow the central bank to continue with rate hikes to control stubbornly high inflation. However, for FY11, the industrial output growth registered a growth of just 7.8% YoY versus a 10.5% YoY growth in FY10.

The manufacturing sector, which comprises 80% of the industrial production, was up 7.9% YoY for the month versus 16.4% YoY last year. The mining sector was marginally up by 0.2% YoY versus 12.3% YoY growth during the same month last year. The growth rate for capital goods sector also slowed down to 12.9% YoY from 36% YoY last year.

Meanwhile, the Committee of Secretaries (COS) has approved the release of the new series of index of industrial production (IIP) with 2004-05 as its base. The new index will start from the month of June 2011(which will be the quick estimate of IIP for the month of April 2011).

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 move deep into the red". Click here!


Stock Market Updates

Indian Indices End Flat, GAIL and UPL Among Top Nifty Gainers (Today's Market)

Mar 8, 2021 Closing

Indian share markets end on a flat note with the Sensex ending up by 35 points and the Nifty ending up by 18 points.

Sensex Trades Over 200 Points Higher; Dow Futures Up by 37 Points (Today's Market)

Mar 8, 2021 12:30 pm

BSE Sensex is trading up by 214 points, while the NSE Nifty is trading up by 76 points.

Indian Share Markets Open Higher; GAIL & ONGC Surge 5% (Today's Market)

Mar 8, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 363 points, while the Nifty is trading higher by 112 points.

ONGC at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:40 AM

ONGC share price has hit a 52-week high. It is presently trading at Rs 121. BSE 500 Index is up by 0.7% at 20,123. Within the BSE 500, ONGC (up 5.2%) and BEML (up 13.1%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

GRINDWELL NORTON at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Mar 8, 2021 09:38 AM

GRINDWELL NORTON share price has hit a 52-week high. It is presently trading at Rs 975. BSE 500 Index is up by 0.8% at 20,123. Within the BSE 500, GRINDWELL NORTON (up 5.5%) and BEML (up 11.8%) are among the top gainers, while top losers are DHFL and CORPORATION BANK.

ASTRAL POLY TECHNICK at All Time High; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Mar 8, 2021 09:36 AM

ASTRAL POLY TECHNICK share price has hit an all time high at Rs 2,332 (up 3.6%). The BSE CAPITAL GOODS Index is up by 1.4%. Among the top gainers in the BSE CAPITAL GOODS Index today are ASTRAL POLY TECHNICK (up 3.6%) and HONEYWELL AUTOMATION (up 2.5%). The top losers include KALPATARU POWER (down 0.8%).

View More Indian Share Market 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.

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.

Charge Your Portfolio with this Smallcap Proxy Play on India's EV Revolution(Profit Hunter)

Mar 5, 2021

This could be the biggest wealth creator of the decade.

Gold 65,000 and Silver 84,000 in 2022

Feb 26, 2021

In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot 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


Mar 8, 2021 (Close)