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 Open on a Strong Note; Sensex Up Over 200 Points
Mon, 1 Jul 09:30 am | Monish Vora, TM Team

Asian share markets are higher today as Chinese and Hong Kong shares gain. The Shanghai Composite is up 1.9% while the Hang Seng is down 0.3%. The Nikkei 225 is trading higher by 1.8%.

Back home, India share markets have opened the day on a positive note. The BSE Sensex is trading up by 229 points while the NSE Nifty is trading higher by 61 points. The BSE Mid Cap index and BSE Small Cap index have opened the day up by 0.4%.

Sectoral indices opened on a mixed note with stocks in the oil & gas sector and consumer durables sector witnessing selling pressure, while power stocks and metal stocks are witnessing buying interest.

The rupee is currently trading at Rs 68.89 against the US$.

On Friday, the Indian rupee ended marginally higher at 69.02 as the currency market awaited further cues from the G20 summit. Meanwhile, on the weekly basis, the local currency rose by 55 paise.

Rupee rose for the third successive session ahead of the important G20 meeting that was scheduled for last week.

--- Advertisement ---
Cure For Poor Investor Syndrome

Almost everyone suffers from it and chances are, you do too.

Think about it…

When was the last time you made good money in the stock market?

And by good, we mean triple digit profits…

If you have, then great – we're going to tell you how to do it again – over and over.

And if you haven't made such profits… well, then that's great too…

Because we've got just the thing for you.

It involves taking the help of some of the biggest, richest investors out there…

We call them The Thousand Crore Club…

That's because they've made hundreds and thousands of crores in the stock market.

Now normally something like this would involve you paying them lakhs and lakhs of rupees in fees.

But we'll tell you how you can benefit from their expertise, without paying them a single shiny rupee.

Go here and we'll fill you in on the details.
------------------------------

At the end of the meeting between US and Chinese leaders, US President Donald Trump said he had an excellent meeting with Chinese President Xi Jinping, as good as it was going to be.

JSW steel share price is in focus today as lenders to the company have approved the bid for Asian Colour Coated Ispat. The company will offer Rs 15.3 billion upfront to financial creditors.

In May, it was reported that JSW Steel has improved its bid to Rs 15 billion from the previous bid of Rs 10-12 billion range, which bankers were unwilling to approve.

Asian Colour Coated Ispat was part of the Reserve Bank of India's (RBI) second list of 28 defaulters that banks were to refer to insolvency court.

The company runs a cold rolling mill complex with an installed capacity of 3,00,000 tonnes per annum for manufacturing cold rolled, galvanised and colour-coated products for the automobile, white good and general engineering sectors.

Moving on to the news from the finance space, lenders of Dewan Housing Finance Corporation (DHFL) are scheduled to meet today, seeking a solution for the Rs 900 billion debt that is owed to them.

The consortium of 30 lenders led by Union Bank of India, which includes banks and other financial institutions, may also consider conversion of debt into equity that can make them the largest shareholder in the mortgage lender.

Reportedly, Bank of Baroda (BoB) has entered into a transaction with DHFL to acquire loans worth Rs 30 billion against its exposure to the non-bank lender. BoB acquired the pool of loans made by DHFL and adjusted it against its loans to the non-bank lender.

Reports also state that the debt recast plan will be arrived at as per the RBI's revised circular on resolving asset quality stress. The circular gives lenders a 30-day period since default to arrive at a debt recast plan.

DHFL's promoter group, the Wadhawan family which owns over 39% of the firm, has been looking at various ways of coming out of the stress which first came to light late last year following the IL&FS crisis.

Last week, multiple rating agencies downgraded the company's debt ratings as the stress kept building up.

Last week on Friday, stock of the company witnessed huge selling after the company deferred the release of its March 2019 quarter (Q4) results which were scheduled to be announced on Saturday (June 29).

In a regulatory filing, the company cited "certain unforeseen operational engagements including no availability of a few directors to ensure participation of all the members of the Audit Committee as well as the Board" for deferring the results.

DHFL share price is presently trading down by 1.8%.

Speaking of NBFC crisis, a slew of corporate defaults, and the bloodbath in many stocks has left investors in deep fear and panic.

But this blanket approach doesn't work too well.

In the chart below, you can see top three NBFC gainers and losers (in terms of market capitalisation) over the last one year.

NBFC Crisis - Top Gainers and Losers

NBFC Crisis - Top Gainers and Losers

While several NBFCs have suffered badly and destroyed investor wealth, there have also been quality NBFC stocks that have been wealth creators.

So, the key takeaway here is to never write off an entire sector and to always stay on the lookout for quality stocks in sectors going through temporary headwinds.

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 Open on a Strong Note; Sensex Up Over 200 Points". Click here!

  

Stock Market Updates

VAIBHAV GLOBAL Share Price Down by 5%; BSE 500 Index Down 1.0% (Today's Market)

Aug 14, 2020 03:34 PM

VAIBHAV GLOBAL share price is trading down by 5% and its current market price is Rs 1,843. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index are LUPIN (up 9.2%) and HEIDELBERG CEMENT (up 8.4%). The top losers are VAIBHAV GLOBAL (down 5.1%) and EICHER MOTOR (down 7.2%).

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.5% (Today's Market)

Aug 14, 2020 03:26 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 133. The BSE AUTO is down by 2.5%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.6%) and ASHOK LEYLAND (up 1.0%). The top losers are TATA MOTORS (down 5.2%) and EICHER MOTOR (down 7.2%).

VARROC ENGINEERING Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 14, 2020 03:26 PM

VARROC ENGINEERING share price is trading down by 5% and its current market price is Rs 231. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are NBCC (INDIA) LTD (up 3.1%) and SIEMENS (up 2.8%). The top losers is VARROC ENGINEERING (down 5.4%)..

BOSCH Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Aug 14, 2020 03:18 PM

BOSCH share price is trading down by 5% and its current market price is Rs 14,400. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 9.6%) and LUPIN (up 9.2%). The top losers are BOSCH (down 5.2%) and EICHER MOTOR (down 6.9%).

BAJAJ ELECTRICALS at 52 Week High; BSE 500 Index Down 1.0 % (Today's Market)

Aug 14, 2020 03:06 PM

BAJAJ ELECTRICALS share price has hit a 52-week high. It is presently trading at Rs 470. BSE 500 Index is down by 1.0% at 14,874. Within the BSE 500, BAJAJ ELECTRICALS (up 7.0%) and REDINGTON (up 15.4%) are among the top gainers, while top losers are EICHER MOTOR and DISH TV.

Sensex Corrects Over 550 Points; Banking Stocks Under Pressure (Today's Market)

Aug 14, 2020 02:30 pm

Indian share markets slip into the red on signs of escalating US-China tensions.

View More Indian Share Market News

Most Popular

Large Opportunities Are Coming Our Way

Aug 5, 2020

Kenneth Andrade tells us why stocks will bounce back strongly and what he's bullish on.

Is It Time to Book Profits in Gold and Silver?(Fast Profits Daily)

Aug 10, 2020

Gold and silver have delivered phenomenal returns this year. Is it time to take some money of the table?

Forget the Nifty and Sensex for the Next 1 or 2 Years and Focus on These Stocks(Profit Hunter)

Aug 6, 2020

Stocks from the essential small cap space are likely to be outperformers over the next 1 or 2 years.

3 Stocks to Ride the Big Rebound in Smallcaps(Profit Hunter)

Aug 11, 2020

The rebound ratio suggests that smallcaps are set for big gains but this time it will be limited to a few stocks. Make sure you choose wisely.

Governance: For the Country and Your Portfolio(The Honest Truth)

Aug 14, 2020

Ajit Dayal on the need of socially responsible governance.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 14, 2020 (Close)

MARKET STATS