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 Rallies 632 Points, Nifty Ends Above 16,350; Banking & IT Stocks Witness Buying
Fri, 27 May Closing

Indian share markets rose today as easing bets about aggressive interest rate hikes by central banks lifted sentiment.

Benchmark indices extended gains as the session progressed and ended on a firm note tracking global cues and buying in index heavyweight stocks.

At the closing bell, the BSE Sensex jumped 632 points or 1.2%.

Meanwhile, the NSE Nifty surged 182 points, ending at 16,352.

Tech Mahindra, IndusInd Bank, and Wipro were among the top gainers today.

NTPC, Power Grid, and Bharti Airtel were among the top losers today.

The broader markets ended on a strong note as the BSE Mid Cap index climbed 1.7% while the BSE Small Cap index zoomed 1.2%.

All sectoral indices ended on a firm note with stocks in the banking sector, IT sector, and auto sector witnessing most of the buying.

Auto ancillary stocks gained traction today with Mahindra CIE Auto and Munjal Showa ending over 6% higher.

Shares of Blue Dart Express hit their 52-week highs today.

In this volatile market, a few penny stocks are continuously hitting their 52-week highs. Several Indian stocks have delivered multibagger returns in a span of one month. But not all are worthy.

If you're new and on the lookout for fundamentally strong penny stocks, check out the list of penny stocks to buy for long term.

--- 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...

Outside the home ground, Asian share markets ended on a strong note as broad-based buying was witnessed across sectors.

At the close in Tokyo, the Nikkei 225 was up 0.7%, while the Hang Seng rose 2.8%. The Shanghai Composite added 0.2%.

Tesla CEO Elon Musk today said the recession which the world is now experiencing owing to multiple macro-economic factors could last up to 18 months.

Musk took to twitter and replied to a follower saying "Based on past experience, about 12 to 18 months," who asked him about how long he thinks this recession will last.

The SGX Nifty was trading 0.8% higher 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 50,981 per 10 grams while silver is trading up by 1.1% at Rs 62,488 per kg.

Speaking of gold, have a look at the chart below to see how gold has inched up ever since the Russia invaded Ukraine.

Gold Prices Inching up since Russia Invaded Ukraine

Watch this video to know whether gold really makes your portfolio crash-proof: Does Gold Make Your Portfolio Crash-Proof?

Speaking of stock markets, co-head of research at Equitymaster Tanushree Banerjee discusses drone stocks, in her latest video.

As India hosts Drone Festival 2022, here is what investors need to watch out for in the most underrated drone stocks.

In news from the finance space, the central bank has planned to explore a policy framework for digital banking, fintech companies and big tech in 2023 fiscal.

The Reserve Bank of India said it was concerned about the systemic risks that come with the involvement of large technology companies in the financial sector.

Systemic risk refers to the risk of a system-wide breakdown rather than simply the failure of some individual parts.

--- 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?

The term gained traction after the financial crisis of 2008, which was primarily cause by a system failure. Companies considered to be a systemic risk are called too big to fail.

RBI in its annual report for 2021-22 said:

  • While encouraging innovation, it was also factoring in emerging risks in the fintech segment.

    Greater use of technology accentuates the concerns related to cyber security.

Meanwhile, the RBI also set up a fintech department in January.

We will keep you updated on the latest developments from this space. Stay tuned.

In news from the initial public offer (IPO) space, Paradeep Phosphates shares hit the bourses today delivering around 4.7% premium to its allottees.

The company's tepid listing can be attributed to the current market sentiments and a lukewarm response from the investors.

Paradeep Phosphates is one of the largest manufacturers of non-urea-based fertilizers and has competitive advantages in terms of backward integration and location.

However, it operates in a highly regulated industry, with high dependency on the agriculture sector. Thus, the business is subject to climatic conditions and is cyclical in nature.

Paradeep Phosphates aims to use the proceeds of the fresh issue to partly finance the acquisition of the fertilizer manufacturing facility in Goa.

With these 6 Mega IPOs around the corner, the primary market is set to witness some action in the coming days.

Moving on to corporate earnings, Piramal Enterprises' financial services business reported net loss of Rs 3.2 bn in March quarter due to additional provisioning and interest reversals totaling Rs 10.4 bn.

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

The company said the additional provisioning and interest reversals correspond to select wholesale non-RE accounts.

Piramal Enterprises which is engaged in the financial and pharma business, posted consolidated net profit of Rs 1.5 bn against a loss of Rs 5.1 bn in the same quarter last year.

Meanwhile, consolidated revenue grew 22% year-on-year to reach Rs 41.6 bn from Rs 34 bn reported in March 2021 quarter.

Sales were boosted by a 55% growth in the India consumer products segment which forms 9% of pharma sales. The strong showing by power brands and healthy launches (nearly 40) drove the superior performance in the ICP segment.

Piramal Enterprises share price hit a 52-week low after it slipped 11.2% on the BSE today.

The company's board of directors has recommended a final dividend of Rs 33 per equity share.

Since dividends interest you, check out the companies that have announced the biggest dividend payouts this year.

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 Rallies 632 Points, Nifty Ends Above 16,350; Banking & IT Stocks Witness Buying". 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)