Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian Indices Marginally Negative
Wed, 22 Jun 11:30 am

After opening the day on a flat note, the Indian stock markets witnessed choppy trades and continued to trade near the dotted line. Sectoral indices are trading on a mixed note with stocks from the banking and realty sectors leading the gains.

The BSE Sensex is trading down by 8 points (down 0.03%) and the NSE Nifty is trading down by 4 points (down 0.04%). The BSE Mid Cap index is trading down by 0.1%, while the BSE Small Cap is trading flat. The rupee is trading at 67.56 to the US$.

Stocks in the automobile space are trading on a mixed note with Tata Motors leading the losses and Escorts leading the gains. As per an article in the Economic Times, the voluntary vehicle fleet modernisation programme (V-VMP) will initially focus on incentivising buyers of new commercial vehicles. The V-VMP programme is in the working and is aimed at providing tax benefits and discounts to people who junk old vehicles and replace them with new ones. Its primary aim is to reduce emissions and get polluting trucks off the road.

As for now, the programme will keep passenger vehicles and two-wheelers out of its ambit. The proposed policy will allow vehicles bought prior to March 31, 2005 or those below BS IV emission standards for incentives if those were scrapped and replaced by new ones. The incentives are said to reduce the cost of new vehicle for a buyer on an average 8-12%.

Reportedly, a Cabinet note on the above programme will be sent for clearance in the next three months. The road transport ministry has received an in-principle approval from relevant government departments to proceed with the scheme.

The above development bodes well for the automobile industry. It would also boost sales of commercial vehicles. Investors can look out for investment opportunities in this space going forward.

One shall note that FY16 turned out to be a disappointing year for the Indian auto industry. The only segment that managed to grow in double digits was commercial vehicles (CVs). But this was largely led by medium & heavy CVs.

Moving on to the news from global markets. Minutes of Bank of Japan's (BoJ) April policy showed that the central bank's policymakers believe overseas economies continue to pose downside risks to Japan's economy and prices.

It was reported that the BOJ could soon be facing extra challenges. This would be from slowing emerging markets, volatility caused by US monetary policy, and Britain's vote on European Union membership.

One must note that the BoJ, during last week, refrained from expanding its monetary policy stimulus. The bank kept the annual target for expanding the monetary base at 80 trillion yen ($764 billion). Further, it held its key interest rate at minus 0.1%.

Dan Denning, in one of the recent articles from the Vivek Kaul's Diary, explains why Japan is unable to stimulate any growth with new money tricks.

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 Marginally Negative". Click here!

  

Views on News

The Best Stocks in a Volatile Market podcast (Views On News)

Mar 5, 2021

Rahul Shah on the qualities that make for a good investment in an up and down market.

A New Super Cycle in Metals? (Fast Profits Daily)

Mar 5, 2021

In this video, I'll tell you if there is huge money to be made in metals or if there is more to the super cycle story.

Mirae Asset Corporate Bond Fund: Aiming for Growth with Focus on Quality and Liquidity (Outside View)

Mar 5, 2021

PersonalFN analyses the features of Mirae Asset Corporate Bond Fund and explains the potential this fund has to offer to its investors.

Charge Your Portfolio with this Smallcap Proxy Play on India's EV Revolution (Profit Hunter)

Mar 5, 2021

This could be the biggest wealth creator of the decade.

Inflation & Your Investments (Fast Profits Daily)

Mar 4, 2021

Inflation is the buzz word in the world of finance these days. It impacts all of us. Here's how it affects your investments.

More Views on 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...

Gold 65,000 and Silver 84,000 in 2022

Feb 26, 2021

In this episode of the Investor Hour, India's #1 trader, Vijay Bhambwani, talks to us about the stock market, his new targets for gold and silver, the best long-term investment opportunity, and a lot more.

More

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

S&P BSE SENSEX


Mar 5, 2021 (Close)

MARKET STATS