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?  
Top Ad

Find Out

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

Sensex Ends 236 Points Lower, Nifty Falls Below 16,150; IT & FMCG Stocks Witness Selling
Tue, 24 May Closing

Sensex Ends 236 Points Lower, Nifty Falls Below 16,150; IT & FMCG Stocks Witness Selling

Indian share markets ended on a negative note today as global cues remained weak.

At the closing bell, the BSE Sensex ended 236 points or 0.4% lower.

Meanwhile, the NSE Nifty was down by 90 points, ending at 16,125.

Dr Reddy's Laboratories, HDFC, and Power Grid were among the top gainers today.

Tech Mahindra, HUL, and HCL Technologies were among the top losers today.

The primary markets witnessed some action amid two listings and one new IPO in the offering. The Rs 8.1 bn initial public offering (IPO) of Aether Industries opened for subscription today.

Meanwhile, Delhivery made its debut on the bourses today and rose 10% after making a muted listing.

The IPO's GMP was signaling a discount of Rs 5 in the unlisted market before it listed.

--- 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...

The broader markets ended on a weak note as the BSE Mid Cap index slipped 0.9% while the BSE Small Cap index plunged 1.1%.

Barring banking stocks, all sectoral indices remained under pressure. Stocks in the IT sector, pharma sector, metal sector, and FMCG sector witnessed most of the selling.

Metal stocks have seen a massive correction in recent days. Tata Steel, SAIL, JSW Steel and other larger counterparts fell over 10% yesterday.

Among the smaller counterparts, Godawari Power & Ispat is down over 25% so far this week.

Shares of KSB and Adani Power hit their 52-week high today.

Outside the home ground, Asian share markets ended on a weaker note as as relief rally hopes on Wall Street quickly soured by a slide in US stock futures.

At the close in Tokyo, the Nikkei 225 slumped 0.9%, while the Hang Seng plunged 1.9%. The shanghai composite plummeted 2.4%.

The SGX Nifty was trading 0.5% lower at the time of writing.

The rupee is trading at 77.5 against the US$.

Gold prices are currently trading up by 0.2% at Rs 51,025 per 10 grams while silver is trading up at 0.3% at Rs 61,479 per kg.

--- 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?

Speaking of silver, India's #1 trader Vijay Bhambwani talks about silver and why the silver bull market will continue, in his latest video for Fast Profits Daily.

Meanwhile, also take a look at the video we recorded on undervalued stocks.

In the video, we highlight the 5 most undervalued smallcap stocks to add to your watchlist.

In latest developments from the sugar sector, the Indian government has planned to potentially cap this season's sugar exports by 10 m tonnes.

Shares of sugar companies took a sharp knock after a news report said that the Government of India is looking to limit exports of sugar.

The new move to curb sugar export is being seen as a new risk to global food prices. While according to sources the step comes to prevent a surge in domestic sugar prices.

To put things in perspective, India is the world's largest sugar producer and second largest exporter after Brazil.

Although analysts are of the opinion that 10 m tonnes is fairly large cap and that this will help mills to export maximum amount and keep a bare minimum in the country. Sugar production in the country last year was 35.5 m tonnes.

The India Sugar Traders Association reacted to the potential export limit and has termed it as a precautionary step.

This would be the first such restriction in six years while this step comes just days after the Centre had restricted the export of wheat.

Alongside the potential export restriction, here's why sugar stocks are taking a dive.

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

Moving on to developments from the insurance space, the newly listed Life Insurance Corporation of India (LIC) might consider paying dividends while announcing Q4 results next week.

In an exchange filing, the company has informed that the board is scheduled to meet on 30 May to consider and approve the audited financial results for the quarter ended March 2022 and payment of dividends, if any.

As of December 2021, LIC had a market share of 61.6% in terms of gross written premiums.

The country's largest IPO to date had closed with nearly 3 times subscription. The shares of the insurance behemoth made its stock market debut on 17 May and listed at a discount of 8.6%.

Life Insurance Corporation share price ended 0.8% higher on the BSE today.

Speaking of the insurance sector, have a look at the chart below which shows the investment assets of non-life insurers and life insurers over the past 10 years:

Investment Assets of Non-Life Insurers 11x That of Life Insurers

As per Tanushree Banerjee, Co-Head of Research at Equitymaster, the above chart is enough proof of how big an earning opportunity is the zero-cost float to the non-life insurers. Their investment assets under management is nearly 11 times that of life insurers.

Moving on to news from the IPO space, the Rs 8.1 bn initial public offering (IPO) of Aether Industries opened for subscription today.

The specialty chemicals manufacturer will sell its shares in the range of Rs 610-642 apiece and the issue is open till 26 May.

Ahead of the public offer, Aether has garnered over Rs 2.4 bn from anchor investors from about 25 investors including Goldman Sachs, Nomura, and SBI Mutual Fund among others.

At the end of Day 1, the overall issue was subscribed 0.28 times led by qualified institutional buyers and retail investors who respectively subscribed 36% and 34% of their portion.

While the employee and the non-institutional investor quote received less traction.

Looking to bid for the IPO? Here are 5 things to know about Aether Industries IPO.

Moving on to another development from the IPO space, shares of logistics and supply chain startup Delhivery got listed at a 2% premium.

Delhivery share price ended 10.5% higher on their maiden day of trading on the BSE today.

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 "Sensex Ends 236 Points Lower, Nifty Falls Below 16,150; IT & FMCG Stocks Witness Selling". 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.


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


Jun 24, 2022 (Close)