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 Trade on a Flat Note; Oil & Gas and Automobile Stocks Drag
Mon, 24 Jun 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a flat note. Sectoral indices are trading mixed with stocks in the oil & gas sector, automobile sector and metal sector witnessing selling pressure while capital goods stocks and finance stocks are trading in green.

The BSE Sensex is trading up by 5 points, while the NSE Nifty is trading up by 3 points. The BSE Mid Cap index and the BSE Small Cap index are trading on a flat note.

The rupee is currently trading at Rs 69.48 against the US$.

The domestic currency opened 3 paise lower at Rs 69.58 against the US dollar in opening trade amid rising crude oil prices and foreign fund outflows.

Forex traders said the rupee was under pressure and was trading in a narrow range after media reports surfaced that Viral Acharya has quit as RBI deputy governor, six months before the scheduled end of his term.

Last week, the rupee gained 23 paise on likely FII inflow after dovish monetary policy from the Fed & ECB. Although it fell 14 paise against US dollar on Friday due to escalated US-Iran tensions which lifted crude oil prices.

In the news from the FMCG sector, shares of Emami slipped around 7% to hit over four-year lows of Rs 270, after huge block deals were encountered on the exchanges. Shares were trading at their lowest level since August 8, 2014 on the BSE.

--- Advertisement ---
The New India Is Here…This Book Reveals How to Potentially Profit From it!

The Secrets Identifying  10X StocksThe New India is already here. We see change happening all around us every single day.

Sadly, most people don't know the full story, and are hence missing out on a once-in-a-lifetime opportunity.

That's the reason our Co-Head of Research, Tanushree Banerjee, decided to write a book on this transformation. And to show people how to potentially profit BIG from it.

And for a limited time, you could get a copy of this book worth Rs 1,950 virtually FREE.

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

Click here to find out how to get this book virtually FREE…
------------------------------

Data showed that around 34.6 million shares, representing 7.6% of Emami's total equity capital, changed hands on the BSE through block deals.

Although the name of the buyers and sellers were not ascertained immediately, sources said the promoters may have offloaded shares in the open market.

As of March 2019, out of 62.7% promoters' holding in Emami, 47.7% stake were pledged with the lenders. According to exchange filings, Emami promoters have pledged shares with Axis MF AMC, Tata Capital Financial Services, IndusInd Bank, DCB Bank, Hero Fincorp and others.

Earlier in February, Emami had said its promoters sold 10% stake in the company for Rs 16 billion to reduce promoter debt which was used in creation of assets like cement, solar power etc.

Funds like SBI Mutual Fund, Premji Invest, Amundi, IDFC and others, were the buyers, thereby reducing the promoter holding in Emami to 62.7% from 72.7% as on December 31, 2018.

Emami share price is presently trading down by 5%. The stock is trading lower for the eight straight day and has fallen 25% in the past month.

To know more about the company, you can read Emami's Q4FY19 Result Analysis on our website.

Moving on to the news from the construction sector, JMC Projects share price is witnessing buying interest today as the company said it has won contracts worth Rs 5.1 billion for residential and commercial projects and factory works.

The orders include residential and commercial projects in south and west India totaling Rs 3 billion and factory works from a multinational client in east India worth Rs 1.1 billion.

JMC Projects, a subsidiary of Kalpataru Power, undertakes projects pertaining to civil engineering, and engineering, procurement and infrastructure works.

Speaking of the infrastructure sector, did you know India became the world's fastest highway building economy under Modi 1.0?

Tanushree Banerjee has shared some interesting data on this in one of the recent editions of The 5 Minute WrapUp...

In the last five years, India constructed approximately 39,000 kms of highways. That is a jump of nearly 60% from the UPA-2 tally.

The NHAI achieved the pace of building highways at 32 kms per day in FY19. Its target for FY20, at 40 kms per day is almost 25% higher.

What Would 40 kms a Day of Highway Building Mean for Infra Stocks?

What Would 40 kms a Day of Highway Building Mean for Infra Stocks?

And as per Tanushree, this uptrend in execution could be a big tailwind for infra companies. As she writes...

  • Now, I do not expect the 25% jump in road building to come in one fiscal.

    However, I believe it is important this trend of improvement in execution continues.

    And such a trend could be a big tailwind for many infra companies.

    Also, Modi 2.0's infra plans are not restricted to road building alone.

    Railways, waterways, drinking water pipelines, green energy, and affordable housing could also form a bulk of the Rs 100 lakh crore opportunity.

But does that mean investors should jump at the next hot infra stock?

No.

Because even if India's infra story sounds exciting, it is important to dig deeper and be careful.

There will be only a few stocks that will benefit the most from the transformation what Tanushree calls the Rebirth of India.

You can read Tanushree's article in its entirety here: How to Profit from Modi 2.0's Rs 100 Lakh Crore Infrastructure Plan

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 Trade on a Flat Note; Oil & Gas and Automobile Stocks Drag". Click here!

  

Stock Market Updates

KEC INTERNATIONAL Share Price Up by 6%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Jul 6, 2020 01:30 PM

KEC INTERNATIONAL share price is trading up by 6% and its current market price is Rs 297. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 6.0%) and KALPATARU POWER (up 5.6%). The top losers are GRAPHITE INDIA (down 0.3%) and CARBORUNDUM UNIVERSAL (down 0.4%).

BSE Sensex Surges 623 Points; M&M Among Top Gainers (Today's Market)

Jul 6, 2020 01:30 PM

The BSE Sensex Surged 623 Points; M&M Among Top Gainers. Find the latest update, special reports and news on all time high gainers of BSE Sensex at equitymaster.com.

BRIGADE ENTERPRISES Share Price Up by 10%; BSE REALTY Index Up 1.8% (Today's Market)

Jul 6, 2020 01:18 PM

BRIGADE ENTERPRISES share price is trading up by 10% and its current market price is Rs 146. The BSE REALTY is up by 1.8%. The top gainers in the BSE REALTY Index is BRIGADE ENTERPRISES (up 10.4%). The top losers are GODREJ PROPERTIES (down 1.0%) and OMAXE LTD (down 5.0%).

M&M Share Price Up by 5%; BSE AUTO Index Up 2.2% (Today's Market)

Jul 6, 2020 12:56 PM

M&M share price is trading up by 5% and its current market price is Rs 558. The BSE AUTO is up by 2.2%. The top gainers in the BSE AUTO Index are M&M (up 5.1%) and CUMMINS INDIA (up 5.1%). The top losers is BAJAJ AUTO (down 0.9%).

KALPATARU POWER Share Price Up by 7%; BSE CAPITAL GOODS Index Up 1.5% (Today's Market)

Jul 6, 2020 12:04 PM

KALPATARU POWER share price is trading up by 7% and its current market price is Rs 250. The BSE CAPITAL GOODS is up by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are KALPATARU POWER (up 6.6%) and BHEL (up 5.7%). The top losers are GRAPHITE INDIA (down 0.6%) and CARBORUNDUM UNIVERSAL (down 0.6%).

Indian Share Markets Open Higher; Banking Stocks Gain (Today's Market)

Jul 6, 2020 09:30 am

Indian share markets opened higher. The BSE Sensex opened up by 582 points, while the Nifty is trading up by 173 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.

Tata Motors Tripled in 18 Months but You Can Do Even Better. Here's How...(Profit Hunter)

Jun 24, 2020

Rahul is ready for a repeat of his famous 2008 Tata Motors call.

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...

More

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

S&P BSE SENSEX


Jul 6, 2020 02:27 PM

MARKET STATS