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?  

Indian Indices Recover; Yes Bank & Sun Pharma Top Gainers
Thu, 20 Jun 12:30 pm | Monish Vora, TM Team

Share markets in India recovered early losses and are presently trading on a positive note.

Barring IT sector and FMCG sector, all sectoral indices are trading on a positive note with stocks in the realty sector and telecom sector witnessing maximum buying interest.

The BSE Sensex is trading up by 161 points while the NSE Nifty is trading up by 47 points. The BSE Mid Cap index is trading up by 0.5% and the BSE Small Cap index is trading up by 0.3%.

The rupee is trading at 69.59 against the US$.

The domestic currency and bond prices gained after the US dollar dropped against all its major peers as Treasury yields tumbled after the Federal Reserve said it was open to cutting interest rates.

Yesterday, the rupee ended flat at 69.68 against the US dollar ahead of the US Fed's interest rate decision.

Overnight, the Fed signaled it was ready to lower rates for the first time since 2008, citing "uncertainties" that have increased the case for a cut.

--- Advertisement ---
A Chance to Save Rs 1,950 And Also Potentially Make LOT of Money…

The Secrets Identifying  10X StocksTanushree Banerjee's new book reveals all about a once-in-2000 years economic phenomenon she calls the Rebirth of India.

Firstly, you can save Rs 1,950 when you get this book virtually FREE now.

And then, the information revealed in this book could help you potentially make a LOT of money from the Rebirth of India phenomenon in the long run.

So two ways in which you could benefit from this book.

And nearly 2,000 copies of it have been claimed already. So don't delay.

Find Out How to Grab your FREE copy now!

In the news from the pharma sector, Glenmark Pharma's subsidiary - Glenmark Pharmaceuticals Inc., USA (Glenmark) has received tentative approval by United States Food & Drug Administration (USFDA) for Clindamycin Phosphate Foam, 1%.

The drug is a generic version of EVOCLIN Foam, 1%, of Mylan Pharmaceuticals Inc. According to sales data for the 12-month period ending April 2019, the EVOCLIN Foam's market achieved annual sales of approximately US$ 17 million.

The company's current portfolio consists of 156 products authorized for distribution in the US marketplace and 59 ANDA's pending approval with the USFDA.

Glenmark Pharma share price is presently trading up by 0.5%.

To know more about the company, you can read Glenmark's latest result analysis on our website.

Moving on to the news from the finance sector, Indiabulls Housing Finance share price is witnessing buying interest today after reports indicated that the company will conduct a buyback of all non-convertible debentures (NCDs) maturing in July and August totaling Rs 22.9 billion.

Company's Managing Director and CEO, Gagan Banga in a TV interview said that the company's liquidity situation remained 'very strong', as it has raised around Rs 580 billion since September 2018 and has a cash buffer of Rs 280 billion.

He further added that the company does not have any exposure to Dewan Housing Finance Limited (DHFL) and Anil Ambani group stocks.

Note that the stock of the company witnessed huge selling last week after a writ was filed in the Supreme Court on Monday against Chairman Sameer Gehlaut for misappropriation of Rs 980 billion public money.

As per an article in a leading financial daily, a plea was filed in the Supreme Court seeking legal action against the company, its chairman and directors for alleged misappropriation.

The petition alleged that money was siphoned off by Sameer Gehlaut, the chairman of the firm for their personal use.

However, Abhay Yadav, the petitioner, withdrew the writ petition in Supreme Court. In an affidavit, Yadav had said that he was not aware of the contents and allegations mentioned in the complaints or the petition.

Indiabulls Housing Finance share price is presently trading up by 5.6%.

Speaking of non-banking financial companies (NBFCs), note that NBFCs were flush with funds from banks, insurance companies, and asset management companies i.e. mutual funds in 2016.

And with these funds and without the necessary restrictions, NBFCs become reckless in deploying the funds.

You can see this clear as day in the chart below...

One Chart that Predicted the NBFC and Mutual Fund Crisis Back in 2016

One Chart that Predicted the NBFC and Mutual Fund Crisis Back in 2016

Here's what Tanushree Banerjee wrote about this in a recent edition of The 5 Minute WrapUp...

  • Let's look back at 2016...

    Banks, mutual funds, and insurance companies were competing with each other to lend to NBFCs.

    And why not?

    Not only were the fast growing NBFCs hungry for funds, they also offered attractive yields.

    The NBFCs took more risk than banks by lending without collaterals. But they charged higher interest rates; which meant their margins remained far higher than that of banks.

    It's no wonder the NBFCs caught everyone's fancy. In fact, between 2013 and 2016, the top NBFCs saw their valuation multiples move up three to eight times.

As per Tanushree, the problem in the NBFC sector is far from over. But she believes the good quality NBFCs, and housing finance companies will continue to flourish and you can make the most of the opportunity by buying the safest NBFCs.

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 "Indian Indices Recover; Yes Bank & Sun Pharma Top Gainers". Click here!


Stock Market Updates

L&T INFOTECH LTD at All Time High; BSE IT Index Down 1.1% (Today's Market)

Jul 8, 2020 11:48 AM

L&T INFOTECH LTD share price has hit an all time high at Rs 2,060 (up 2.1%). The BSE IT Index is down by 1.1%. Among the top gainers in the BSE IT Index today are L&T INFOTECH LTD (up 2.1%) and ORACLE FINANCIAL (up 0.4%). The top losers include MPHASIS (down 0.8%) and TECH MAHINDRA (down 0.9%).

ZENSAR TECHNOLOGIES Share Price Up by 5%; BSE IT Index Down 1.1% (Today's Market)

Jul 8, 2020 11:42 AM

ZENSAR TECHNOLOGIES share price is trading up by 5% and its current market price is Rs 134. The BSE IT is down by 1.1%. The top gainers in the BSE IT Index is ZENSAR TECHNOLOGIES (up 5.4%). The top losers are MPHASIS (down 0.8%) and TCS (down 0.9%).

UNION BANK Share Price Up by 5%; BSE BANKEX Index Up 0.9% (Today's Market)

Jul 8, 2020 11:40 AM

UNION BANK share price is trading up by 5% and its current market price is Rs 34. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index are UNION BANK (up 5.5%) and INDUSIND BANK (up 9.5%). The top losers are AXIS BANK (down 0.2%) and FEDERAL BANK (down 0.4%).

SAIL Share Price Up by 12%; BSE METAL Index Up 2.2% (Today's Market)

Jul 8, 2020 11:36 AM

SAIL share price is trading up by 12% and its current market price is Rs 36. The BSE METAL is up by 2.2%. The top gainers in the BSE METAL Index is SAIL (up 12.0%). The top losers is HINDUSTAN ZINC (down 0.5%).

HINDUSTAN COPPER Share Price Up by 6%; BSE METAL Index Up 2.0% (Today's Market)

Jul 8, 2020 11:28 AM

HINDUSTAN COPPER share price is trading up by 6% and its current market price is Rs 38. The BSE METAL is up by 2.0%. The top gainers in the BSE METAL Index are HINDUSTAN COPPER (up 6.3%) and NALCO (up 6.1%). The top losers is HINDUSTAN ZINC (down 0.2%).

Sensex Opens Flat; IT Stocks Lag (Today's Market)

Jul 8, 2020 09:30 am

Indian share markets open mildly higher. The BSE Sensex opened up by 58 points, while the Nifty is trading up by 20 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.

Be Prepared to Profit from the Coming Crash in Oil Prices(Fast Profits Daily)

Jun 25, 2020

The stability in crude oil prices will not last much longer. Be ready to make fast profits when the time comes to short crude.

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...

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 8, 2020 12:51 PM