X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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?  

Sensex Opens Marginally Higher; Consumer Durable & Realty Stocks Gain
Thu, 17 May 09:30 am | Monish Vora, TM Team

Asian shares are trading on a mixed note today. The Nikkei 225 is up 0.6% while the Hang Seng is up 0.04%. Back home, India share markets opened the day marginally higher. The BSE Sensex is trading up by 50 points while the NSE Nifty is trading up by 20 points. The BSE Mid Cap index is trading up by 0.4%, while the BSE Small Cap index has opened the day up by 0.5%.

Sectoral indices have opened the day on a mixed note with consumer durables stocks and realty stocks witnessing maximum buying interest. Metal stocks have opened the day in red.

The rupee is trading at 67.63 to the US$.

In the news from the macroeconomic space, Bharatiya Janata Party's (BJP) BS Yeddyurappa will take oath as Karnataka Chief Minister today.

The development comes as Yeddyurappa's party was invited to form government, and is given 15 days to prove majority by the governor on Wednesday evening.

In response to the above move, the Congress, to ensure that does not happen, approached the Supreme Court late at night and asked for the swearing-in to be stopped.

Three judges of the Supreme Court heard the petition in an unprecedented 2 am hearing, but refused to stay the oath taking ceremony.

--- Advertisement ---
What Warren Buffet and This Housewife from Chennai Have In Common...

Warren Buffet was one of the biggest advocates of this secret early on in his investing career (though you won't catch him talking of it now).

Closer home, a Mrs Khanna from Chennai has been using the very same secret for the last few years...with inspiring results. You can read her story here (We think you'll find it pretty interesting).

If you'd like to learn about this secret, and how you can use it — go here to read what Rahul has to say.
------------------------------

Earlier on Wednesday evening, the Governor met a delegation of the Congress and JD(S) leaders, who also staked claim to form government, claiming they have majority.

Note that the BJP has 105 lawmakers, including an Independent, in the 222-seat assembly and is seven seats short of majority.

There are high stakes involved as the final outcome will have a bearing on the stock markets too.

As Ankit writes in one his editions of Equitymaster Insider (requires subscription)...

  • Dalal Street logic says BJP win will give a boost to the Indian stock markets. BJP's loss would spell bearishness.

    And now that the next general elections are just a year away, politics will remain a focal point of discussion in the context of the stock markets.

    Remember that the stock markets like Mr Modi. And currently, they're pricing in a Modi victory in 2019. If this premise starts developing cracks, it may weigh negatively on your stock portfolio.

How the above decision pans out remain to be seen. Meanwhile, we'll keep a close watch on the developments in this space and keep you updated. Stay tuned.

In the news from the banking sector, as per a leading financial daily, the government is looking to impose strict deadlines on banks that are under the Reserve Bank of India's (RBI) watch to implement a turnaround plan.

The deadlines will include fixed targets for recoveries of bad loans, sale of non-core assets and a differentiated lending road map with each bank specialising in a particular area.

The finance ministry is scheduled to review the performance of around 11 banks under RBI's prompt corrective action framework today.

If implemented, the above development will come as a welcome breather for PSU banks that are reeling in the pressure of bad loans.

Note that banks, in principle, must be careful about not extending loans to borrowers with poor creditworthiness or payment track record. That too, irrespective of the size of the borrower.

However, the data from State Bank of India shows that when it comes to big corporate borrowers, our banks literally look the other way. The share of large corporates, in total advances of the banking sector, has almost remained unchanged over past three years (at an average of 55%).

However, their contribution to incremental slippages has been huge. At one point, the big corporate borrowers accounted for nearly 90% of total NPAs of the sector.

Big Borrowers Turning into Big Offenders

Therefore, according to us, banks with large corporate books (be it PSUs or private sector) deserve a lower valuation if they can't keep NPAs in check.

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

Equitymaster requests your view! Post a comment on "Sensex Opens Marginally Higher; Consumer Durable & Realty Stocks Gain". Click here!

  

Stock Market Updates

Most Active Small-Cap Stocks Today; JET AIRWAYS the Most Traded (Today's Market)

Jan 16, 2019 05:02 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

Top 5 Mid-Cap Gainers Today; GODREJ AGROVET LTD Leads the Pack (Today's Market)

Jan 16, 2019 05:02 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

GUJ. STATE PETRONET Surges by 5%; BSE OIL & GAS Index Up 0.6% (Today's Market)

Jan 16, 2019 03:18 PM

GUJ. STATE PETRONET share price has surged by 5% and its current market price is Rs 179. The BSE OIL & GAS is up by 0.6%. The top gainers in the BSE OIL & GAS Index is GUJ. STATE PETRONET (up 5.5%). The top losers are HPCL (down 0.5%) and OIL INDIA LTD. (down 0.7%).

ERIS LIFESCIENCES LIMITED Surges by 10%; BSE HEALTHCARE Index Up 0.5% (Today's Market)

Jan 16, 2019 02:50 PM

ERIS LIFESCIENCES LIMITED share price has surged by 10% and its current market price is Rs 727. The BSE HEALTHCARE is up by 0.5%. The top gainers in the BSE HEALTHCARE Index is ERIS LIFESCIENCES LIMITED (up 10.3%). The top losers are FORTIS HEALTHCARE (down 0.1%) and ABBOTT INDIA (down 0.1%).

APL APOLLO TUBES Surges by 5%; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

Jan 16, 2019 02:08 PM

APL APOLLO TUBES share price has surged by 5% and its current market price is Rs 1,175. The BSE CAPITAL GOODS is up by 0.7%. The top gainers in the BSE CAPITAL GOODS Index are APL APOLLO TUBES (up 5.4%) and GRAPHITE INDIA (up 8.3%). The top losers are CARBORUNDUM UNIVERSAL and LAKSHMI MACHINE (down 0.1%).

Sensex Trades Rangebound; IndusInd Bank & ICICI Bank Top Gainers (Today's Market)

Jan 16, 2019 12:30 pm

The BSE Sensex is trading up by 74 points, while the NSE Nifty is trading up by 21 points.

View More Indian Share Market News

Most Popular

Our First Bluechip Stock Recommendation in Smart Money Secrets(The 5 Minute Wrapup)

Jan 9, 2019

For the first time, we have recommended a bluechip stock in Smart Money Secrets.

3 Stocks in Super Investor Sumeet Nagar's Portfolio That You Can Buy Right Now(The 5 Minute Wrapup)

Jan 11, 2019

The reasons that make these six stocks in Sumeet Nagar's portfolio so compelling

Follow a Super Investor Like This to Multiply Your Wealth(The 5 Minute Wrapup)

Jan 4, 2019

Following a super investor can certainly help build a portfolio and create wealth in the long term.

15 Mistakes to Avoid to Make a Killing in the Markets(Profit Hunter)

Jan 3, 2019

Richa dissects the common mistakes investors make and how to avoid and even take advantage of them.

My First Stock Trading Recommendation For 2019(Profit Hunter)

Jan 10, 2019

My first trading recommendation for 2019 is a bluechip auto stock. Find out everything about it right away.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jan 16, 2019 (Close)

MARKET STATS