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?  

Markets weak on profit booking
Fri, 18 Jun 11:30 am

Indian indices pared their opening gains as profit booking was seen in heavyweights during the last two hours of trade. Stocks in consumer durables and capital goods are trading firm while those from the metals and banking spaces are trading weak.

The BSE-Sensex is up by around 45 points while NSE-Nifty is trading around 10 points above the dotted line. BSE-Midcap index is up by 0.2% while BSE-Smallcap index is trading 0.4% above yesterday's closing. The Rupee is trading at 46.16 to the US dollar.

IT stocks are trading in the green with HCL Tech, Oracle Financial Services and Tech Mahindra trading in the green. Mindtree is also trading positive. The Bangalore based company has recently been awarded the first contract from ‘Aadhaar', the new brand identity of the unique identification (UID) project. This multi-year contract involves designing, developing, testing, maintaining and providing help desk services. These services will be provided from the Unique Identification Authority of India's (UIDAI's) Bangalore center. The financial value of the deal has not been disclosed. This contract is part of several big dollar deals that are expected to be outsourced by the UID authority to various tech firms.

Aadhar, spearheaded by Nandan Nilekani is a government identification programme for every citizen in India based on biometric verification. This large scale project has to deal with over 1.2 bn people in the country. Collecting, validating, issuing and verifying data from this massive base will require a sophisticated software network. Mindtree is hopeful of gaining more government projects after proving itself in this high profile project.

Power stocks are trading mixed with Tata Power and Voltamp trading firm while GVK Power and Reliance Infra are trading weak. As per a leading financial daily, Reliance Power (R-Power) has commissioned the second 300 MW unit of its Rosa, Uttar Pradesh based power plant. With this the company has completed the first phase of its Rosa Power Project ahead of schedule. This is its first thermal power project in north India and is being set up in two phases of 600 MW each. The first 300 MW unit had been commissioned in December 2009. The entire 600 MW of stage one will be supplied to UP Power Corporation Ltd. For this the agreement had been signed in 2006. Rosa Power Project has an investment outlay of Rs 60 bn and is expected to be completed in 2012, adding 20% to the existing power generation capacity of the state.

With the completion of the second phase the total power capacity of R-Power has now reached 1,000 MW. It should be noted that R-Power is constructing about 34,000 MW of power capacity including 3 ultra mega power plants of 4,000 MW each.

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 "Markets weak on profit booking". Click here!


Stock Market Updates

INDIABULLS REAL EST Share Price Up by 5%; BSE REALTY Index Up 0.1% (Today's Market)

Mar 5, 2021 09:34 AM

INDIABULLS REAL EST share price is trading up by 5% and its current market price is Rs 122. The BSE REALTY is up by 0.1%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 5.5%). The top losers are PHOENIX MILL (down 0.4%) and MAHINDRA LIFESPACE (down 0.7%).

MRPL Share Price Up by 6%; BSE OIL & GAS Index Up 1.5% (Today's Market)

Mar 5, 2021 09:28 AM

MRPL share price is trading up by 6% and its current market price is Rs 45. The BSE OIL & GAS is up by 1.5%. The top gainers in the BSE OIL & GAS Index is MRPL (up 5.7%). The top losers are CASTROL INDIA (down 0.3%) and PETRONET LNG (down 0.8%).

SGX Nifty Plunges 158 Points; Indicates Gap-Down Opening for Indian Stock Markets (Today's Market)

Mar 5, 2021 SGX Nifty

Trends on SGX Nifty indicate a negative opening for Indian stock markets.

Indian Oil Corporation Asset Monetisation Plan, MTAR and Easy Trip Planners IPO, and Buzzing Stocks Today (Today's Market)

Mar 5, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market 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.

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...

How Much Money For Day Trading?(Fast Profits Daily)

Feb 22, 2021

In this video, I'll show you how to allocate your capital as a day trader.


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


Mar 5, 2021 09:42 AM