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?  

Late buying propels indices
Fri, 23 May Closing

After trading above the dotted line in the post noon trading session, Indian equity markets ended the day on a strong note. While the BSE-Sensex today closed higher by 319 points, the NSE-Nifty closed higher by 91 points. Even Smallcaps and Midcaps were in much demand today with both the BSE Mid Cap and BSE Small Cap indices closing higher by 1.8% and 1.9% respectively. Barring stocks from Consumer durables and FMCG, all the sectoral indices closed in green.

As regards global markets, Asian indices closed on a strong note today. The rupee was trading at Rs 58.42 to the dollar at the time of writing.

Failing to check the price rise was the primary reason why the UPA received a drubbing from the voters in this election. But is the new government ready to tackle the problem of food inflation on which people have shown so much hope? And if yes, what steps it needs to take? An article in economic times highlights critical issues that need to be addressed in order to curb food inflation. For the one the excessive stock lying in Food Corporation of India (FCI) must be immediately released into the market. Second plan of action could be to reduce import duties on food articles. And lastly, steps should be taken to avoid leakages that take place in food and fertilizer subsidy allocation. If these three steps are taken on a priority basis by the new government we may well see food inflation coming down drastically over the future.

PSU banking stocks have closed firm today, with State bank of India (SBI) and Andhara bank being among the leading gainers. SBI has declared results for fourth quarter and full year FY14. Net interest income rose to 16.5% YoY for the quarter and the total income increased by 13.1% YoY. However the net profits were down by 7.8% YoY for the quarter. On the positive side, SBI has shown solid improvement in its asset quality. The gross non-performing assets (NPAs) declined by 78 bps on QoQ to 4.95% and the net NPAs were down by 67 bps QoQ to 2.57% during the quarter. Capital adequacy ratio (CAR) too improved to 12.44% in the quarter versus 11.59% on sequential basis. The bank has declared a dividend of Rs 30 per share for FY14. SBI closed up by 8.5%.

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 "Late buying propels indices". Click here!

  

Related Views on News

SBI Announces Quarterly Results (3QFY21); Net Profit Down 6.9% (Quarterly Result Update)

Feb 5, 2021 | Updated on Feb 5, 2021

For the quarter ended December 2020, SBI has posted a net profit of Rs 52 bn (down 6.9% YoY). Sales on the other hand came in at Rs 667 bn (down 1.4% YoY). Read on for a complete analysis of SBI's quarterly results.

SBI Announces Quarterly Results (2QFY21); Net Profit Up 51.9% (Quarterly Result Update)

Nov 6, 2020 | Updated on Nov 6, 2020

For the quarter ended September 2020, SBI has posted a net profit of Rs 46 bn (up 51.9% YoY). Sales on the other hand came in at Rs 668 bn (up 3.9% YoY). Read on for a complete analysis of SBI's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

More Views on 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.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

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

S&P BSE BANKEX


Mar 3, 2021 (Close)

S&P BSE BANKEX 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS