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 mkts stand out sole loser in Asia
Wed, 18 May Closing

The Indian stock markets continued with their losing streak, closing at lower levels backed by profit booking in index heavyweights. After opening on a positive note, the indices could not hold on to the positive momentum for very long, and eventually, ended the day in the red. While the BSE-Sensex lost in the region of around 51 points (down 0.3%), NSE-Nifty ended lower by around 17 points (down 0.3%). The BSE Midcap and BSE Small cap indices however, were worse off, closing lower by around 0.6% and 0.8% respectively.

All Asian indices closed the day in the green, with India the only loser in the region. Europe is also trading in the green currently. The rupee was trading at Rs 45.05 to the dollar at the time of writing.

Bajaj Auto declared its results for the fourth quarter and year ended March 2011 a short while ago. The company reported a healthy 24% YoY and 39% YoY growth in sales for 4QFY11 and FY11 respectively. Strong sales performance was largely led by volume growth as well as higher realisations. The latter was especially strong due to its focus on high end motorcycles. For the quarter, growth in sales volumes stood at 17% YoY, while for the year volumes grew by 34% YoY.

The motorcycles segment, in particular, did well to log in an impressive volume growth of 35% YoY for the year. Sales volume growth of the commercial segment came in slightly lower at 28% YoY. Operating margins for the year, however, declined by 1.3% mainly on account of rise in raw material costs (as a percentage of sales). Net profits rose by a robust 96% YoY during the year as the company received extraordinary income to the tune of Rs 7.2 bn as against an expense of Rs 1.6 bn last year. Excluding this impact from both the periods, growth in net profits came in at a healthy 40% YoY in FY11 and was led by higher other income and reduction in interest costs and depreciation charges. The stock however closed around 2% lower for the day.

ONGC declared that its planned follow on share offering (FPO) in July 2011 would suffer if the government raised its subsidy burden. There were a few news reports that the government could raise upstream oil companies' contribution toward oil marketing firms' (OMCs) subsidy burden to 38.5% from 33% currently. According to news reports, the government could decide that upstream oil exploration companies like ONGC will have to contribute Rs 300 bn to help compensate fuel retailers like HPCL, IOC etc, for their subsidy burden. This amounted to Rs 780 bn in FY10. ONGC's stock price continued its negative run from yesterday, closing over 1% down today as well.

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 mkts stand out sole loser in Asia". Click here!


Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

View More Indian Share Market News

Most Popular

Is Intraday Trading For You?(Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution(Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.


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


May 14, 2021 (Close)