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 Ends 382 Points Lower; Auto and Telecom Stocks Witness Selling
Tue, 21 May Closing | Monish Vora, TM Team

India share markets witnessed huge selling pressure during closing hours and ended their trading session deep in the red.

At the closing bell, the BSE Sensex stood lower by 382 points (down 1%) and the NSE Nifty closed down by 119 points (down 1%).

The BSE Mid Cap index ended the day down 0.8%, while the BSE Small Cap index ended the day down 0.6%.

Sectoral indices ended in the red with stocks in the metal sector, telecom sector and auto sector witnessing most of the selling pressure.

The rupee was trading at 69.73 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was down by 0.5% and the Shanghai Composite was up by 1.2%. The Nikkei 225 was down 0.1%.

European markets were trading on a positive note. The FTSE 100 was up by 0.6%. The DAX was trading up by 0.9%, while the CAC 40 was up by 0.5%.

--- Advertisement ---
The 7 Most Promising Stocks to Buy as Modi Rises to Power Again

And it looks like a Modi victory again this time around...a resounding one, at that!

This could be good news for the markets...

More importantly, we believe 7 stocks could be amongst the biggest gainers, as the Modi-led government implements their various ideas and initiatives.

Read more about these 7 stocks here...
------------------------------

Speaking of Indian share markets, note that the bullishness that we witnessed in the markets from March until mid-April was driven by renewed foreign investor flows into Indian equities.

One of the key reasons this money poured into India, including other emerging markets, was the shift in monetary policy stance by the US Federal Reserve.

Here's what Ankit Shah wrote about this in a recent edition of The 5 Minute WrapUp...

  • The US central bank, until some months ago, was on track to hike interest rates and shrink the Fed balance sheet. But seeing signs of slowdown in the economy and the nervousness in the stock markets, it showed its willingness to turn dovish.

    So, it's unlikely we'll see any interest rate hikes by the US Federal Reserve in 2019.

    In fact, my reading suggests that the Fed may resume its easy money policies if the global economic slowdown persists and the markets gets jittery.

    One of the key triggers for the ongoing market correction is the escalation in the US-China trade war amid increasing fears of a global slowdown.

The chart below shows how foreign money moved in and out of India over the last three months owing to the evolving global events:

Foreign Investors Turn Sellers in May 2019

Meanwhile, in times like these, hold on to your safe stocks and don't go looking for overvalued stocks. Maintaining your calm when everyone is losing theirs will help you build long-term wealth.

United Breweries share price was in focus today as the company reported a 25.3% year-on-year (YoY) fall in net profit for the quarter ended March at Rs 679.2 million.

Total income during the quarter was up 5.8% to Rs 34.7 billion as against Rs 32.7 billion in the corresponding quarter of the previous fiscal.

Commenting on the results, the company reported that UBL's growth continues to lead the industry, strengthening its market position. Good performance generated healthy operating cash flows, which along with better working capital management helped internal funding of Rs 4.3 billion investments in the business.

The board of directors of the company has proposed dividend of Rs 2.50 per equity share for the financial year ended March 31, 2019.

Apart from the above, DLF share price, Tech Mahindra share price and Bosch share price were in focus on the back of their March quarter (Q4FY19) results announcement today.

You can also read our recently released Q4FY19 Results: Bajaj Auto, PI Industries, GSK Pharma.

Moving on to the news from the pharma sector, market participants were tracking Alembic Pharma share price today as the company said it has received US Food and Drug Administration (USFDA) approval for Solifenacin Succinate Tablets, 5 mg and 10 mg.

Solifenacin Succinate Tablet is a muscarinic antagonist indicated for the treatment of overactive bladder with symptoms of urge urinary incontinence, urgency, and urinary frequency.

The approved products is therapeutically equivalent to the reference listed drug, Vesicare tablets of Astellas Pharma US, Inc.

Quoting sales data, the company said that Solifenacin Succinate tablets 5 mg and 10 mg had an estimated market size of US$ 967 million for 12 months, ending December 2018.

The company now has a total of 94 ANDA approvals from the USFDA.

Speaking of pharma sector, we at Equitymaster believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

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

Equitymaster requests your view! Post a comment on "Sensex Ends 382 Points Lower; Auto and Telecom Stocks Witness Selling". Click here!

  

Stock Market Updates

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

Jun 19, 2019 03:59 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; BIOCON Leads the Pack (Today's Market)

Jun 19, 2019 03:58 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.

INDOSTAR CAPITAL Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Jun 19, 2019 03:32 PM

INDOSTAR CAPITAL share price has plunged by 5% and its current market price is Rs 379. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are TRENT LTD (up 5.4%) and TATA STEEL (up 5.3%). The top losers are INDOSTAR CAPITAL (down 5.5%) and PIRAMAL ENTERPRISES (down 6.8%).

VODAFONE IDEA Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Jun 19, 2019 03:30 PM

VODAFONE IDEA share price has plunged by 5% and its current market price is Rs 12. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are ZEE ENTERTAINMENT (up 5.3%) and TATA STEEL (up 5.3%). The top losers are VODAFONE IDEA (down 5.4%) and PIRAMAL ENTERPRISES (down 6.7%).

TATA STEEL Surges by 5%; BSE METAL Index Up 0.7% (Today's Market)

Jun 19, 2019 03:28 PM

TATA STEEL share price has surged by 5% and its current market price is Rs 497. The BSE METAL is up by 0.7%. The top gainers in the BSE METAL Index is TATA STEEL (up 5.1%). The top losers are HINDALCO and JSW STEEL (down 0.5%).

Indian Indices Turn Volatile; Yes Bank Slips 5% (Today's Market)

Jun 19, 2019 12:30 pm

Indian share markets are trading on a positive note with the BSE Sensex up by 141 points while NSE Nifty trading higher by 19 points.

View More Indian Share Market News

Most Popular

7 Stocks That Will Remain Evergreen in this Era of Technological Disruption(The 5 Minute Wrapup)

Jun 13, 2019

We are living in an era of disruption. Are your stocks well equipped to adapt to changes that disruption will bring along?

The Great Indian NBFC Bubble Has Burst but I Will Still Recommend These Safe NBFCs(The 5 Minute Wrapup)

Jun 11, 2019

One chart that predicted the NBFC crisis back in 2016.

Just One Stock Made Buffett Billions - And Can Make You Crores(Profit Hunter)

Jun 6, 2019

Coca Cola is arguably one of Warren Buffet's best stock picks. But did you know that small investors picked up the stock five decades before Buffet? Read on...

Kenneth Andrade Would Like Our Real Estate Stock Recommendation with Triple Digit Upside(The 5 Minute Wrapup)

Jun 12, 2019

This real estate stock recommended in Smart Money Secrets offers the most favourable upside potential.

Why Modi 2.0 Will Be Great for These 7 Stocks(Profit Hunter)

Jun 10, 2019

The government's focus on Infra, electricity, water for all will be the key factors for Sensex 1,00,000.

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


Jun 19, 2019 (Close)

MARKET STATS