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 Markets Trade Firm
Mon, 4 Jul 11:30 am

After opening the trading week on a firm note, Indian markets continue to trade strong amid positive international markets. Barring FMCG, all the sectoral indices are trading above the dotted line with oil & gas and PSU sector leading the gains.

The BSE Sensex is trading higher by 192 points and the NSE Nifty is trading higher by 56 points. The BSE Mid Cap index and the BSE Small Cap index are trading higher by 0.8% and 1.1% respectively. The rupee is trading at 67.17 to the US$.

Buying activity is witnessed across many of the food and tobacco stocks with Britannia and Godfrey Phillips leading the gains. According to a leading financial daily, ITC plans to add 6-7 boutiques of luxury chocolate brand Fabelle at its hotels over the next 15 months. The company at present sells Fabelle through a boutique at its hotel ITC Gardenia, Bengaluru.

The company is also looking at expanding offering in the instant noodles category. ITC consolidated its presence in instant noodles category with brand Yippee, post the Maggi controversy last year.

Last week, ITC had announced that it would be investing Rs 40 billion over the next 2-3 years to set up 8-9 factories across the country for manufacturing of food products.

ITC's branded packaged foods division (Subscription Required) grew by around 11% to clock a turnover of Rs 70.97 billion in 2015-16. It is to be noted that food is the second largest business for ITC after cigarettes. ITC is presently trading down by 2.3%.

Moving on to news from steel sector. According to an article in The Livemint, Tata Steel is set to 'pause' the auction of its UK steelworks amid uncertainty over the impact of Britain's decision to leave the European Union (EU). The board is yet to make a formal decision but is under less pressure to sell after a jump in steel prices, which has cut losses at the south Wales site.

As per the reports, the company will reportedly stall the auction to await the outcome of a UK government deal to cut its £14 billion pension liabilities as well as talks on EU trade deals. The UK steel industry has been hit by high energy costs, inefficient output and a flood of cheap Chinese exports.

Tata Steel reported a 12.4% decline in the topline while the bottom line was in red in 4QFY16 (Subscription Required). Tata Steel is trading up by 1.4%.

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 Markets Trade Firm". Click here!

  

Views on News

Top 5 Recent IPO Developments You Should Know (Views On News)

May 12, 2021

So far in 2021, IPOs in India have raised nearly US$ 3 bn, the best start to the year since 2018.

How Did Mindtree Perform in Q4FY21? (Company Info)

Apr 20, 2021

Here's the rundown on the company's latest quarterly results.

Parag Parikh Conservative Hybrid Fund: Should You Invest in Higher Debt Allocation? (Outside View)

May 14, 2021

PersonalFN analyses the features of Parag Parikh Conservative Hybrid Fund and explains the potential this fund has to offer to its investors.

Die Hard 4.0 Redux? (Fast Profits Daily)

May 14, 2021

A Hollywood style cyber-attack has caused shockwaves across financial markets.

What Godrej Consumer's 22% Single-Day Gain Tells About My Blueprint (Profit Hunter)

May 14, 2021

The company's FY21 earnings performance turned out better than my estimates but...

More Views on News

Most Popular

Is Intraday Trading For You? (Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution (Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

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


May 14, 2021 (Close)

MARKET STATS