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?  
Top Ad

Find Out

How to Find One Stock with Crorepati Potential? >> READ MORE

Indian Share Markets End Marginally Higher; Automobile & Banking Stocks Witness Buying
Mon, 16 May Closing

Indian Share Markets End Marginally Higher; Automobile & Banking Stocks Witness Buying

Indian share markets inched higher today tracking Asian peers as they tried to hold onto small gains after weak data from China showed that lockdowns hit the world's second-largest economy.

Benchmark indices snapped a six-day fall and ended on a positive note after trading in a volatile session today.

At the closing bell, the BSE Sensex jumped 180 points, ending 0.3% higher.

Meanwhile, the NSE Nifty added 60 points, ending at 15,842.

NTPC, SBI, and Bajaj Finance were among the top gainers today.

Ultratech Cement, Asian Paints, and ITC were among the top losers today.

The broader markets ended in the green as the BSE Mid Cap index climbed 1.5% while the BSE Small Cap index jumped 1.2%.

Among sectoral indices, buying was seen in the auto sector, realty sector, and power sector while stocks in the IT sector and FMCG sector witnessed selling.

Outside the home ground, Asian share markets ended marginally higher today, following a Wall Street bounce that was sparked by a rally in tech stocks.

--- Advertisement ---
A One Stock Gift in 1990 Turns into Rs 130 Crores

In 2017, Ravi made headlines by calling a leading business news channel with a surprising announcement - his grandfather had left him 20,000 shares of only one stock.

And on the day of his call - these shares were worth Rs 130 crore.

Can you guess which is this company?

It's MRF.

Ravi's story is one of the amazing stories of becoming Crorepati from a single stock.

But the question is, how to find that one stock with crorepati potential?

To find the answer to this million-dollar question, join our 'One Stock Crorepati' MEGA summit on 30th June, where we will reveal details of what we call a potential 'crorepati' stock...

Click here for full details...
------------------------------

At the close in Tokyo, the Nikkei 225 rose by 0.5%, while the Hang Seng ended on a flat note. The Shanghai Composite was down 0.3%.

The SGX Nifty was trading 0.4% higher at the time of writing.

The rupee is trading at 77.77 against the US$.

Gold prices are currently trading up 0.1% at Rs 49,929 per 10 grams while silver is up 0.9% at Rs 59,874 per kg.

Speaking of the current stock market scenario, amid the ongoing volatility, have a look at the two charts below, in the order they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

chart

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

Timing the markets could be suicidal as valuations and volatility put the markets in a see-saw mode.

As an individual investor, you need to sit tight over high conviction stocks and invest consistently to see the magic of compounding.

Because 2022 could be extremely profitable, over time, provided you reset your portfolio with the right kind of safe assets and safe stocks.

--- Advertisement ---
"$2.5 Trillion Crypto Market Boom..."

A booming $2.5 trillion market...

Set to multiply by 100 times over the next decade...

With legendary investors like Warren Buffet, Elon Musk, and Peter Thiel pouring in billions of dollars all over...

Would You Really Want to Miss It?
------------------------------

In news from the consumer durables sector, Amber Enterprises hit a lower circuit of 20% today after posting weak March quarter results.

Amber Enterprises is a market leader in the Indian Room Air Conditioner (RAC) industry and has a diversified portfolio that includes RACs, RAC components, and air conditioning solutions for railways, metros, defence, bus & commercial segments.

The company reported a 24.2% decline in consolidated net profit to Rs 572.2 m in the March quarter as compared to Rs 754.6 m in the same quarter previous year.

Net sales stood at Rs 19.4 bn for the quarter March 2022 as against Rs 16 bn during the same period in the previous year, registering a growth of 21.2%.

On a full-year basis, the company reported a 33.8% increase in net profit and a 38.8% rise in net sales in financial year 2022.

For fiscal 2022, RAC sales contributed 47% of total revenue while components & mobility application contributed 53% of total revenue.

Commenting on the performance, the chairman and CEO, Jasbir Singh said:

  • The geopolitical tensions have led to inflationary pressure on commodity prices and the covid induced lockdowns in China have led to supply chain disruptions which has further added to the pain of the economy.

    Despite this, we have been able to pass on majority of price increases and have been largely able to maintain our profitability.

The company has acquired a majority stake in Pravartaka Tooling Services Private Limited and is set to provide more diversified solutions of injection molding tools and components for industries such as automotive, electronics & consumer durable.

The early arrival of summer in India coupled with an overall increase in consumer sentiment across the country can drive revenue growth for fiscal 2023.

EXPOSED: The Shocking Truth Behind Today's Hottest Investment Opportunity

Speaking of midcap stocks, we recently recorded a video on Equitymaster YouTube channel talking about the 5 most undervalued midcap stocks to add to your watchlist.

In the last two years, while the Nifty 50 gave a return of 81%, the Nifty midcap 100 index has given 126% return.

Wish to find out the attractive midcap stocks amid the recent sell-off? Tune in to the below video to find out:

Moving on to news from the IPO space, Paradeep Phosphates is all set to launch its maiden public offer tomorrow.

Paradeep Phosphates is the country's second largest manufacturer of non-urea fertilizers and Di-Ammonium Phosphates in the private sector.

The company aims to raise Rs 15 bn by a combination of fresh issue of equity shares aggregating up to Rs 10 bn and an offer for sale (OFS) of 118.5 m equity shares of Rs 10 each aggregating up to Rs 5 bn.

The offer will open for subscription on 17 May and the last day to subscribe to the public offer is 19 May.

The price band for the offer has been fixed between Rs 39-42 per equity share having a face value of Rs 10 each. Investors can bid for a minimum lot size of 350 shares and in multiples thereof.

The net proceeds from the fresh issue will be utilized to part-finance the acquisition of the manufacturing facility in Goa, repayment/prepayment of part of its borrowings, and general corporate purposes.

Paradeep Phosphates is primarily engaged in manufacturing, trading, distribution, and sales of a variety of complex fertilizers. Their fertilizers are marketed under some of the key brand names in the market 'Jai Kisaan - Navratna' and 'Navratna'.

The company's network includes over 4,500 dealers and 65,00 retailers serving more than five million farmers in India.

The Indian fertilizer industry is highly fragmented and competitive. The company is in direct competition with strong names such as IFFCO, Hindalco, and Gujarat State Fertilizers.

Though the company is well-positioned to capture the advantages of favorable government regulations, what response the IPO garners remains to be seen.

We will keep you updated on the latest developments from this space. Stay tuned.

Moving on to another news from the IPO space, Life Insurance Corporation of India (LIC) will get listed on the stock exchanges tomorrow.

As per market observers, LIC shares continue to trade at a discount of Rs 19 in the grey market today. The grey market discount indicates that the stock may have a moderate to discounted listing.

The initial share sale of the insurance behemoth closed on 9 May and shares were allocated to bidders on 12 May.

The government sold over 221 m shares or 3.5% stake in the state-run insurer through the IPO at a price band of Rs 902-949 a share.

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 "Indian Share Markets End Marginally Higher; Automobile & Banking Stocks Witness Buying". Click here!

  

Stock Market Updates

Sensex Gains 500 Points, Nifty Tops 15,700; IndusInd Bank, HUL & Bharti Airtel Top Gainers (Today's Market)

Jun 24, 2022 10:30 am

Indian share markets are trading on a strong note today with the Sensex up by 488 points, while the Nifty is trading higher by 157 points.

SGX Nifty Up 106 Points, Reliance Industries' Green Hydrogen Push, Titan Eyes Strong Growth, and Top Buzzing Stocks Today (Today's Market)

Jun 24, 2022 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

4 Sectors to Watch for Future Multibagger Stocks(Views On News)

Jun 17, 2022

With India's economic recovery accelerating, these sectors are likely to give multibagger returns in the future.

Why Tata Power Share Price is Falling(Views On News)

Jun 14, 2022

Here's why shares of Tata Power have fallen in recent days.

Is it Time to Start Buying Stocks Selectively?(Profit Hunter)

Jun 16, 2022

Some sectors have corrected by 50%. Do they merit a look?

Best Monopoly Stocks to Own in 2022(Views On News)

Jun 18, 2022

Constant product innovation, latest technology, strong supply chain etc can all help companies enjoy monopoly like fortunes.

When Will the Stock Market Recover?(Views On News)

Jun 15, 2022

This is how you can tell the market is going to recover.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jun 24, 2022 (Close)

MARKET STATS