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?  

Sensex Falls 750 Points from Day's High; Telecom and Energy Stocks Witness Selling
Wed, 15 Jul Closing | Monish Vora, TM Team

After opening the day on a strong note, Indian share markets witnessed selling pressure during closing hours today and ended flat.

Benchmark indices gave up early gains and slipped into the red during the last hour of trading.

In early trade today, Indian share markets rose in sync with overnight gains in the US market. Wall Street logged strong gains, with the Dow Jones Industrial Average ending more than 2% higher.

Optimism over vaccine trials and more stimulus from the governments boosted sentiment. Zydus Cadila said it had begun human trials for its potential coronavirus vaccine across multiple sites.

Separately, the first Covid-19 vaccine tested in the US revved up people's immune systems just the way scientists had hoped, researchers reported, with the shots poised to begin key final testing.

The experimental vaccine, developed by US government's top infectious disease expert Anthony Fauci's colleagues at the National Institutes of Health and Moderna Inc, will start its most important step around July 27, a 30,000-person study to prove if the shots really are strong enough to protect against the coronavirus.

At the closing bell, the BSE Sensex stood higher by 19 points. The BSE Sensex rose over 750 points in intraday trade before settling on a flat note.

Meanwhile, the NSE Nifty closed up by 11 points (up 0.1%).

SGX Nifty was trading at 10,635, up by 21 points, at the time of writing.

The BSE MidCap index ended the day down by 0.4%. The BSE SmallCap index ended down by 0.1%.

--- Advertisement ---
Last Day to Grab the Biggest Opportunity of This Decade...

This is your last chance...

You had registered for Richa's emergency summit, Rebound Riches, but you missed it for some reason.

At the summit we revealed how the carnage on the stock markets has created a once-in-a-decade opportunity... a rare chance to grab high-potential stocks at very attractive prices.

The details of 3 such high-potential stocks are outlined in Richa's special report, 'Rebound Riches: 3 Stocks Set to Become India's Next Mega Stocks.'

If you act before 11:59pm tonight, then you can grab it for virtually FREE.

Because once the clock strikes 11:59pm, you might miss out on the biggest money-making opportunity of this decade.

Click here to grab the biggest opportunity of this decade...
------------------------------

Sectoral indices ended on a mixed note with stocks in the telecom sector and energy sector witnessing selling pressure.

IT stocks, on the other hand, witnessed buying interest.

Asian stock markets ended on a mixed note today as encouraging results from a coronavirus vaccine study and optimism about swift economic growth supported expectations that corporate earnings will pick up in the second half of the year.

As of the most recent closing prices, the Hang Seng ended on a flat note and the Shanghai Composite stood lower by 1.6%. The Nikkei ended up 1.6%.

The rupee is trading at 75.15 against the US$.

Gold prices are trading down by 0.2% at Rs 49,150.

Moving on, market participants were tracking Infosys share price. The company is slated to announce its June quarter results later today.

Shares of the company surged 8% to hit a new high of Rs 848 on the BSE, after Vanguard on Tuesday announced it will partner Infosys as part of its ongoing strategy to enhance and evolve its full-service defined contribution (DC) business.

Apart from Infosys, shares of HCL Technologies and Larsen & Toubro Infotech hit their respective record highs today after IT services major Wipro reported a better-than-expected performance in June quarter (Q1FY21), as its profitability improved despite a contraction in revenues on a sequential basis.

Besides, Reliance Industries, Granules India, Laurus Labs, Dr Lal Pathlabs, and Coromandel International from the S&P BSE 500 index too touched their respective record highs today.

In news from the banking sector, Yes Bank was among the top buzzing stocks today.

The private sector lender on Tuesday raised Rs 45 billion from anchor investors ahead of its follow-on public offer that opened today.

--- Advertisement ---
3 Tech Stocks to Boost Your Wealth

Technology. That's where the growth is.

That's why we believe, it's time to load up on 3 specific tech stocks.

We've spent years to vet these stocks.

And our research says... these 3 cutting edge tech stocks could potentially create a wave of Indian millionaires.

Click here for the full details...
------------------------------

The company has fixed the price band at Rs 12-13 per share for its follow-on public offer (FPO) which will be open for subscription from July 15-17.

Yes Bank is aiming to raise Rs 150 billion through the issue to ensure adequate capital to support its growth and expansion, including enhancing its solvency, capital adequacy ratio, and evolving regulatory requirement.

According to investment banking sources, several investors including FPIs have been allocated shares at Rs 12 in the anchor portion.

These investors include US-based alternative asset manager Tilden Park Capital Management LP, Singapore-based fund management company Amansa Capital and UK-based fund management firm Jupiter Fund.

The other investors who have received allotment in the anchor book are Elara Capital, RBL Bank, Hinduja Group's Leyland Finance, HDFC Life Insurance Company and ICICI Prudential Mutual Fund.

Yes Bank share price ended the day down by 2.2%.

Speaking of the banking sector, note that 2019 was brutal for some banking stocks.

The market has severely punished them. This is due to issues such as worsening asset-quality, corporate governance, and inadequate capital.

Stocks such as Yes Bank and Lakshmi Vilas Bank have witnessed huge selling pressure.

Falling Knives in the Banking Sector

Falling stock prices could be enticing. After all, we love deep discounts and good bargains.

But if you're thinking of buying these stocks it's important to remember this point - If a stock is in a falling spree, there's probably a good reason behind it.

--- Advertisement ---
A blue-chip stock with crorepati potential

Over the last year, Equitymaster's top research analysts have been holding closed door meetings every week.

In one of these meetings, our co-head of research and blue-chip expert, Tanushree Banerjee zeroed in on a powerful new opportunity.

It involves a blue-chip stock that is a key player in the driverless vehicle market.

This stock has all the traits to qualify it as a 'crorepati stock' and right now, it's available dirt-cheap.

In the coming years, this stock could potentially turn a small stake into a huge fortune... but only if you get in right now.

For full details on this stock, go here.
------------------------------

And realising this in a falling market is the first step towards correcting one's investing process.

Moving on, the Rs 5-billion IPO by Rossari Biotech attracted 38 times bids on Day 3 of the bidding process.

At the time of writing, the issue by the specialty chemicals company had attracted bids for 31,06,99,025 shares, which was 38 times the issue size of 81,73,530 shares.

The reserved portion for retail investors has seen 5.14 times subscription and non-institutional investors portion is subscribed 121.69 times. The portion set aside for qualified institutional buyers has been subscribed 32.77 times.

Last week on Friday, the company raised Rs 1,488.7 million from anchor investors, which included top three fund houses - SBI Mutual Fund, HDFC Mutual Fund and ICICI Prudential Mutual Fund.

Rossari Biotech is a specialty chemical manufacturing firm with focus on home and personal care, performance chemicals, textile specialty chemicals and animal health and nutrition products.

How this IPO performs on listing day remains to be seen. Stay tuned for more updates from this space.

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 "Sensex Falls 750 Points from Day's High; Telecom and Energy Stocks Witness Selling". Click here!

  

Stock Market Updates

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

Aug 11, 2020 01:55 PM

INDIAN BANK share price is trading up by 5% and its current market price is Rs 63. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index is INDIAN BANK (up 5.3%). The top losers is CITY UNION BANK (down 0.5%).

SCHNEIDER ELECTRIC INFRA Share Price Up by 5%; BSE CAPITAL GOODS Index Down 0.1% (Today's Market)

Aug 11, 2020 01:47 PM

SCHNEIDER ELECTRIC INFRA share price is trading up by 5% and its current market price is Rs 90. The BSE CAPITAL GOODS is down by 0.1%. The top gainers in the BSE CAPITAL GOODS Index is SCHNEIDER ELECTRIC INFRA (up 5.3%). The top losers are AIA ENGINEERING (down 0.1%) and LAKSHMI MACHINE (down 0.5%).

CARE RATING Share Price Down by 5%; BSE 500 Index Up 0.6% (Today's Market)

Aug 11, 2020 01:21 PM

CARE RATING share price is trading down by 5% and its current market price is Rs 441. The BSE 500 is up by 0.6%. The top gainers in the BSE 500 Index are INDIABULLS REAL EST (up 10.0%) and GE T&D INDIA (up 10.0%). The top losers are CARE RATING (down 5.0%) and LAURUS LABS LTD (down 6.5%).

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

Aug 11, 2020 12:57 PM

IDFC FIRST BANK share price is trading up by 5% and its current market price is Rs 30. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index is IDFC FIRST BANK (up 5.5%). The top losers is CITY UNION BANK (down 0.9%).

INDIABULLS REAL EST Share Price Up by 10%; BSE REALTY Index Down 0.2% (Today's Market)

Aug 11, 2020 12:41 PM

INDIABULLS REAL EST share price is trading up by 10% and its current market price is Rs 63. The BSE REALTY is down by 0.2%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 10.0%). The top losers are DLF (down 0.8%) and MAHINDRA LIFESPACE (down 0.8%).

Sensex Opens Over 300 Points Up; ICICI Bank and Axis Bank among Top Gainers (Today's Market)

Aug 11, 2020 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 319 points, while the Nifty is trading up by 88 points.

View More Indian Share Market News

Most Popular

Before You Buy Your First Electric Vehicle Consider Buying this Stock(Profit Hunter)

Jul 29, 2020

As competition intensifies in the electric vehicle space, only few will create huge wealth over the years.

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.

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 11, 2020 03:29 PM

MARKET STATS