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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Mid & small caps buck the trend 
(Tue, 22 Jul Closing) 
 
After trading in the upward trajectory during post noon trading session, the Indian equity markets extended their gains and ended the day in the green. While the BSE-Sensex today closed higher by 311 points, the NSE-Nifty closed higher by 84 points. However, midcap and smallcap stocks bucked broader market trend and closed flat. While the BSE Mid Cap index increased by 0.1%, the BSE Small Cap index was down by 0.01%. Tech and oil and gas stocks were the biggest gainers today.

As regards global markets, Asian indices closed on a strong note today. Only the Indonesian markets closed in the red. The rupee was trading at Rs 60.26 to the dollar at the time of writing.

Power sector stocks ended the day on a mixed note with JSW Energy and NTPC leading the gains, while Torrent Power and KSK Energy ended on a weak note. As per a leading business daily, the NDA government is planning to begin the process of permitting companies from the private sector to mine coal on a commercial basis after the follow on public offer of Coal India Limited (CIL). This will be a great boost towards increasing the supply of coal in the country, as despite the fact that the country has enough reserves of coal, the pace of production from Coal India has failed to effectively meet the needs of the core sectors, particularly power, in the country. Current Indian laws restrict mining of coal by the private sector only for usage for their own captive purposes. Thus, the entry of the private sector will induce a much needed competitive boost in the area of commercial coal mining.

In a move that could help fund a rather ambitious railway expansion program, government is planning to offload its stake in certain rail infrastructure companies. The companies under consideration include IRCTC, RailTel Corporation etc which are unlisted. The move to offload stake by the government will help the exchequer raise money and also provide a listing platform to these companies. While the government had already announced its move to inch closer towards the PPP route to overcome any financial constraints, this move will further boost its financial corpus. Considering that market conditions are good we wouldn't be surprised if the IPOs of the proposed companies receive good response from the investing public in general.

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May 29, 2017 (Close)

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