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?  

Sensex Ends 129 Points Lower; Banking and Finance Stocks Witness Selling
Thu, 4 Jun Closing | Monish Vora, TM Team

Indian share markets witnessed volatile trading activity throughout the day and ended their trading session marginally lower.

Benchmark indices snapped their 6-day winning streak and edged lower, tracking mixed global cues.

Sectoral indices ended on a mixed note with stocks in the banking sector and finance sector witnessing most of the selling pressure.

Telecom stocks and IT stocks on the other hand witnessed buying interest.

At the closing bell, the BSE Sensex slipped below the 34,000-mark and ended down by 129 points.

Meanwhile, the NSE Nifty ended down by 32 points.

SGX Nifty was trading at 10,015, down by 56 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended their day on a flat note.

--- Advertisement ---
Our FREE Guide: Small Caps That Will Race Ahead of the Sensex

Richa Agarwal, our head of smallcap research, recently released her special guide:

Small Caps That Will Race Ahead of the Sensex

And she has agreed to make it available for free for a limited time.

If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing...

Richa has also discovered one stock from a fast growing Rs 4 trillion industry... which she strongly believes has the potential to make one a crore or more.

She'll reveal more details about this stock in her 'One Stock Crorepati MEGA Summit'

We expect this to a huge event... with more than 10,000 people attending it LIVE.

You simply can't miss it.

Click Here to Download the Guide & Block Your Seat Now. It's Free.

Asian stock markets finished on a mixed note today as investors assessed the prospects of economic recovery from the coronavirus pandemic.

The Hang Seng and the Shanghai Composite ended down by 0.1%. Meanwhile, the Nikkei ended higher by 0.4%.

European share markets edged lower today after a strong rally this week, as investors focused on a European Central Bank meeting where policymakers are expected to provide more aid for the battered euro zone economy.

Gold prices are currently trading up by 0.2% at Rs 46,124.

The rupee was trading at 75.56 against the US$.

Speaking of stock markets, as per Richa Agarwal, editor of our premium smallcap service Hidden Treasure, the Covid-19 crisis could be the best investing opportunity in small-cap stocks.

In her latest video, she talks about the stocks that will do well despite the lockdown.

Tune in now...

In news from the finance sector, shares of MAS Financial Services declined 5% intraday today after the company reported a 14% drop in consolidated net profit to Rs 357.1 million Q4FY20.

The NBFC major's consolidated profit before tax stood at Rs 480.2 million in Q4FY20, declining 26% from Rs 650 million in Q4FY19.

--- Advertisement ---
Urgent: We Are Taking the Instant Income Summit Off Air Tomorrow

Tomorrow, at 11:59pm – we will take the Instant Income video down permanently.

And we can't promise that we will ever air this video again.

You can still watch it here – before 11:59pm tomorrow

– You'll learn all about Vijay's 'Instant Income' secret...and see how to generate regular cash without ever buying a single stock

– You'll learn about the 'Cash Codes' Vijay types in to generate cash – and he'll share details on his top 3 'Cash Codes'

– You'll also see how Vijay's 'Instant Income' secret is relatively safer than speculating on stocks – and how you could start generating these payouts as early as tomorrow morning.

Click here to watch now

The company's sales for the quarter rose 10.74% year-on-year (YoY) to Rs 1,824.1 million in Q4FY20. Sales stood at Rs 1,647.2 million in the year-ago period.

Total tax expenses slipped 47.4% to Rs 123 million in the quarter under review.

The company has made special contingent provision of Rs 203.3 million due to Covid-19 for the total on book assets of Rs 33,254.9 million.

The company's assets under management (AUM) rose 11.76% to Rs 59.7 billion in the March quarter.

MAS Financial Services share price ended the day down by 3.6%.

Moving on to news from the energy sector, shares of Bharat Petroleum Corporation (BPCL) slipped 3% in early trade today after the company reported a consolidated pre-tax loss of Rs 29.6 billion for the March quarter of FY20.

In the year-ago quarter, the company had reported a profit before tax of Rs 49.6 billion.

On a standalone basis, the pre-tax loss was Rs 20.7 billion compared to a profit of Rs 45.9 billion in Q4FY19.

BPCL's consolidated loss after tax for the period was reported at Rs 18.2 billion against a profit of Rs 31.3 billion a year ago.

BPCL's average gross refining margin (GRM) for the full year of FY20 was at US$ 2.50 per barrel, against US$ 4.58 per barrel in FY19.

In an exchange filing, the company said the whole of oil industry witnessed a significant drop in crude oil prices and general fall in demand for products in the aftermath of Covid-19.

BPCL's crude throughput declined 0.23% sequentially to 8.39 million metric tonnes. Sales volume, too, fell 9% in the same period to 11.24 million metric tonnes.

FREE Guide: Small Caps That Will Race Ahead of the Sensex

The company further said that there was a significant fall of 55% in demand for petroleum products during April. Even with relaxations in May, sales were lower by 30%, YoY.

BPCL reported an exceptional loss of Rs 10.8 billion due to crude oil prices sliding drastically during the quarter. The fall in prices meant refiners who bought the existing stock at a higher rate ended up selling it cheaper, resulting in inventory losses for oil retailers.

BPCL share price ended the day up by 2.3%.

To know more, you can read BPCL's latest result analysis on our website.

Speaking of crude oil, on a year-to-date (YTD) basis, crude oil prices are down about 38%.

Crude Oil Prices Fall Sharply

Crude oil witnessed selling during the start of the year due to oversupply concerns amid subdued demand.

Prices crashed further in March in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In April, crude oil futures crashed and briefly went to negative prices, implying that investors would need to pay buyers to take delivery of crude oil amid dwindling storage space.

Crude oil witnessed selling pressure today, after jumping above US$ 40 a barrel in the previous session, the highest since March, as doubts emerged about the timing and scale of a potential extension to the pact between OPEC and its allies to cut crude supplies.

What effects crude oil prices have on Indian stocks markets and the Indian economy remains to be seen. Meanwhile we will keep you updated on the latest developments from this space.

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 129 Points Lower; Banking and Finance Stocks Witness Selling". Click here!


Stock Market Updates

RELIANCE IND. at All Time High; BSE OIL & GAS Index Up 0.9% (Today's Market)

Jul 13, 2020 11:58 AM

RELIANCE IND. share price has hit an all time high at Rs 1,947 (up 2.8%). The BSE OIL & GAS Index is up by 0.9%. Among the top gainers in the BSE OIL & GAS Index today are RELIANCE IND. (up 2.8%) and BPCL (up 1.0%). The top losers include CASTROL INDIA (down 0.4%) and GAIL (down 0.9%).

L&T INFOTECH LTD at All Time High; BSE IT Index Up 1.7% (Today's Market)

Jul 13, 2020 11:58 AM

L&T INFOTECH LTD share price has hit an all time high at Rs 2,228 (up 5.1%). The BSE IT Index is up by 1.7%. Among the top gainers in the BSE IT Index today are L&T INFOTECH LTD (up 5.1%) and ORACLE FINANCIAL (up 0.1%). The top losers include MPHASIS (down 0.2%) and MINDTREE (down 0.4%).

THYROCARE TECHNOLOGIES Share Price Up by 6%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Jul 13, 2020 11:56 AM

THYROCARE TECHNOLOGIES share price is trading up by 6% and its current market price is Rs 566. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are THYROCARE TECHNOLOGIES (up 6.0%) and DR. LAL PATHLABS LTD (up 6.6%). The top losers are IPCA LABS and TORRENT PHARMA (down 0.1%).

DIXON TECHNOLOGIES at All Time High; BSE CONSUMER DURABLES Index Up 0.6% (Today's Market)

Jul 13, 2020 11:56 AM

DIXON TECHNOLOGIES share price has hit an all time high at Rs 6,488 (up 2.4%). The BSE CONSUMER DURABLES Index is up by 0.6%. Among the top gainers in the BSE CONSUMER DURABLES Index today are DIXON TECHNOLOGIES (up 2.4%) and TTK PRESTIGE (up 0.1%). The top losers include VIP INDUSTRIES (down 0.3%) and SYMPHONY (down 0.4%).

JAI CORP LTD Share Price Up by 5%; BSE METAL Index Up 1.4% (Today's Market)

Jul 13, 2020 10:48 AM

JAI CORP LTD share price is trading up by 5% and its current market price is Rs 102. The BSE METAL is up by 1.4%. The top gainers in the BSE METAL Index is JAI CORP LTD (up 5.1%). The top losers is NALCO (down 0.4%).

Sensex Opens Higher; Realty Stocks Lead (Today's Market)

Jul 13, 2020 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 286 points, while the Nifty is trading up by 92 points.

View More Indian Share Market News

Most Popular

How to Find the Best Stocks for Day Trading - 1(Fast Profits Daily)

Jul 2, 2020

In the first of two videos, I'll show you how to identify the best stocks for intraday trading.

Two Agri Stocks Are Likely to Outperform Even in this Market(Profit Hunter)

Jul 2, 2020

Why we have recommended two agriculture stocks for our Hidden Treasure subscribers. Read on...

A Warning for Traders: Don't Get Addicted to Hopium(Fast Profits Daily)

Jun 30, 2020

If you are a trader, you must watch out for this dangerous addiction.

Smallcaps Are in a Sweet Spot Again: Are You Buying?(Profit Hunter)

Jul 3, 2020

This is why I believe smallcaps are the place to be in the near future.


India's #1 Trader
Reveals His Secrets

The 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


Jul 13, 2020 12:21 PM