Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Sensex Ends 222 Points Higher; Telecom and FMCG Stocks Witness Buying
Mon, 23 Jul Closing | Monish Vora, TM Team

Indian share markets continued their momentum and ended the day on a positive note today. Gains were largely seen in the telecom sector and FMCG sector.

At the closing bell, the BSE Sensex stood higher by 222 points (up 0.6%) and the NSE Nifty closed higher by 75 points (up 0.7%). The BSE Mid Cap index ended the day up by 1.3%, while the BSE Small Cap index ended the day up by 0.9%.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.1% and the Nikkei was trading down by 1.3%. The Shanghai Composite stood higher by 1.06%.

European markets were trading on a negative note. The FTSE 100 was down by 0.37%. The DAX, was down by 0.30% while the CAC 40 was down by 0.54%

The rupee was trading at 68.75 to the US$ at the time of writing.

In the news from the banking space, Vijaya Bank share price was in focus today as the lender reported that its non-performing assets (NPAs) as percentage of total advances eased to 6.19% in June quarter from 6.34% in March quarter and 7.3% in the year-ago quarter.

--- Advertisement ---
How 3 Simple Steps Can Tell You Which Stocks Look 'Marked' To Boom

Most investors aren't aware of this…

But 3 simple steps can give you a list of potential multi-bagger stocks to buy…

It's easy.
  1. Log on to a website we'll just tell you about…
  2. Type in the name of the stock you want information on.
  3. Download a copy of this little-known legal document that reveals Top Stocks which are 'Marked' To Boom.
The last document was released in June this year…

Click here to get all the answers.

The bank also reported that its net interest income (NII) rose 27.8% for the quarter to Rs 12.06 billion compared with Rs 9.4 billion in the year-ago quarter.

Vijaya Bank share price ended the day up by around 4.6% on the BSE.

In other news, SpiceJet share price was also in focus today. Gains were seen as the company said that arbitral tribunal ruled in favour of SpiceJet with regard to disputes with former SpiceJet owner Kalanithi Maran and KAL Airways Pvt Ltd (claimants).

At the closing bell, SpiceJet share price ended up by 4.6% on the BSE.

In the news from the IPO space, the IPO of HDFC Asset Management Company opens on July 25 and closes on July 27, 2018. The offering will entirely be an offer for sale (OFS) of 25.5 million shares by HDFC Ltd and Standard Life Investments Ltd. With the OFS, the selling shareholders aim to dilute their stake by 12% in the company.

The price band of the issue is set at Rs 1,095 to Rs 1,100 apiece.

HDFC Asset Management Company (HDFC AMC) is the asset management arm of Housing Development Finance Corporation (HDFC Ltd). Promoted by HDFC in 1999, Standard Life Investments (SLI) acquired 26% stake in HDFC AMC in 2001, and now the company operates as a joint venture between HDFC and SLI.

The company has been the largest AMC in India in terms of equity-oriented AUM since the last quarter of FY11.As of March 31, 2018, its proportion of equity-oriented AUM to total AUM was at 51.3%, which was higher than the industry average of 43.2%. Equity-oriented schemes generally have a higher fee structure than non-equity-oriented schemes, and this is where HDFC AMC wields its competitive advantage.

To know our view on this IPO, you can read our IPO note on HDFC Asset Management Company Ltd (requires subscription).

Speaking of IPOs, as per a leading financial daily, eighteen initial public offerings (IPOs) in the first six months of 2018 raised Rs 236.7 billion. This compares to Rs 120 billion that thirteen companies raised via IPOs in the year-ago period.

Further, as per the news, the outlook is bullish for the rest of the year as well, with 50 companies including HDFC Mutual Fund, Lodha Developers and Rail Vikas Nigam expected to launch their initial share sales.

Of these, 28 companies are awaiting SEBI nod to launch their IPOs and 18 others have received the regulatory approval.

Note that the stock market is gearing up for a burst of IPO activity, with at least 12 companies planning to raise more than Rs 170 bn over the next two months, after a quiet start to the June quarter.

Also, according to EY India IPO Readiness Survey Report, globally, Indian exchanges recorded the highest IPO activity as the country saw 90 IPO launches that raised US$ 3.9 billion in the first half of this year.

Meanwhile, the amount raised by SME IPOs in 2017 stood at Rs 17.9 bn. This is more than three times the amount raised in 2016. The number of SME IPOs launched also doubled from 66 to 132. This is evident from the chart below:

SME IPO Boom in 2017

We believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs. If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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

Equitymaster requests your view! Post a comment on "Sensex Ends 222 Points Higher; Telecom and FMCG Stocks Witness Buying". Click here!


Stock Market Updates

MPHASIS LTD Plunges by 5%; BSE IT Index Down 2.8% (Today's Market)

Oct 19, 2018 02:56 PM

MPHASIS LTD share price has plunged by 5% and its current market price is Rs 1,120. The BSE IT is down by 2.8%. The top gainers in the BSE IT Index are NIIT TECHNOLOGIES (up 5.1%) and NIIT LTD (up 1.4%). The top losers are MPHASIS LTD (down 5.2%) and L&T INFOTECH LTD (down 5.3%).

MAGMA FINCORP Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:56 PM

MAGMA FINCORP share price has plunged by 5% and its current market price is Rs 103. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.7%) and JET AIRWAYS (up 5.9%). The top losers are MAGMA FINCORP (down 5.1%) and PIRAMAL ENTERPRISES (down 9.7%).

TV TODAY NETWORK Plunges by 5%; BSE 500 Index Down 1.5% (Today's Market)

Oct 19, 2018 02:52 PM

TV TODAY NETWORK share price has plunged by 5% and its current market price is Rs 395. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.2%) and JET AIRWAYS (up 6.4%). The top losers are TV TODAY NETWORK (down 5.1%) and L&T INFOTECH LTD (down 5.5%).

MUTHOOT FINANCE Plunges by 5%; BSE 500 Index Down 1.4% (Today's Market)

Oct 19, 2018 02:48 PM

MUTHOOT FINANCE share price has plunged by 5% and its current market price is Rs 404. The BSE 500 is down by 1.4%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.3%) and JET AIRWAYS (up 6.5%). The top losers are MUTHOOT FINANCE (down 5.2%) and PIRAMAL ENTERPRISES (down 9.8%).

HEIDELBERG CEMENT Plunges by 5%; BSE 500 Index Down 1.3% (Today's Market)

Oct 19, 2018 02:38 PM

HEIDELBERG CEMENT share price has plunged by 5% and its current market price is Rs 144. The BSE 500 is down by 1.3%. The top gainers in the BSE 500 Index are LAKSHMI VILAS BANK (up 7.4%) and RELIANCE INFRA (up 6.7%). The top losers are HEIDELBERG CEMENT (down 5.3%) and PIRAMAL ENTERPRISES (down 9.3%).

Sensex Down 420 Points; IT Stocks Tank (Today's Market)

Oct 19, 2018 12:30 pm

The BSE Sensex is trading down by 420 points, while the NSE Nifty is trading down by 140 points.

View More Indian Share Market News

Most Popular

This Market Crash could be the Biggest Wealth Creating Opportunity Since 2008(Profit Hunter)

Oct 8, 2018

While widespread fear is the friend of a value investor, serving up bargain purchases; personal fear is an investor's biggest enemy.

My Top 3 Tips to Navigate the Market Crash(The 5 Minute Wrapup)

Oct 8, 2018

Steep corrections are never easy to handle. It's hard to watch the value of your shares drop so much. But you can take steps to make the most of it.

IPO Market Feels the Heat of the Market Crash(Sector Info)

Oct 12, 2018

The sentiments in primary market have also deteriorated amid the stock market correction. Most listed IPOs of 2018 are trading below their issue price.

Even If IL&FS Group Brought This Correction, this is Right Time to Buy & Sit Tight!(Chart Of The Day)

Oct 12, 2018

Even if IL&FS is the culprit, it may turn out to be a hero if you buy right and sit tight.

ICICI Prudential Manufacture In India Fund: A Make In India Prodigy, Should You Invest?(Outside View)

Oct 8, 2018

PersonalFN briefly explains if you should be investing in the NFO: ICICI Prudenetial Manufacture in India Fund.


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Oct 19, 2018 03:35 PM