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?  

Markets in red on RBI's rate hike
Tue, 26 Jul 11:30 am

Indian stock market crashed on sell off in heavy weights over the last two hours of trade. The crash seems to have been triggered by a greater than expected rate hike of 0.5% announced by the RBI. Stocks from the realty and banking space are the biggest losers while stocks from the consumer durables and IT space have lost the least.

The BSE-Sensex is trading down by 260 points while NSE-Nifty is trading 82 points below the dotted line. BSE-Midcap index is down by 0.7% while BSE-Small cap index is trading 0.4% below yesterday's closing. The rupee is trading at 44.27 to the US dollar.

Energy stocks are trading weak led by MRPL and Essar Oil. Reliance Industry Limited (RIL) released its 1QFY12 results. The company's top line grew by 37.2% YoY to stand at Rs 836.8 bn. This growth was on account of higher prices and volume growth. While higher prices accounted for 32.7% of top line growth, higher volumes accounted for the balance 4.5%. On the other hand, bottom line grew slower than top line during the quarter. Net profits for the quarter rose 16.7% YoY to stand at Rs 56.6 bn. This was on account of fall in gas output. For the quarter, RIL's gross refining margin stood at US$ 10.3 per barrel as against US $7.3 per barrel in the corresponding period last year.

Engineering stocks are trading weak. Key losers include Jyoti Structures and Crompton Greaves. As per a leading financial daily, Larsen and Toubro has bid for Rs 10.25 bn Tamil Nadu- Karnataka power link along with 17 others including the likes of Reliance Power, Adani Power, GMR Energy, Sterlite Energy etc. A few foreign companies have also put in their bids for this project. Power Finance Corporation is looking after the bidding process of the build-own-operate project. The project is about laying two high capacity 250 km transmission lines to connect Nagapattinam with Madhugiri in Karnataka.

It is interesting to note here that the government has revised the bidding norms some time ago. Earlier a bidder needed to have experience in setting up an infrastructure project of one-fifth size of the transmission project. But, now the requirement is that the bidder should have set up a project worth the same amount. The government has identified a few more such transmission projects that will be awarded to private companies in future.

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 "Markets in red on RBI's rate hike". Click here!

  

Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

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


Mar 2, 2021 (Close)

MARKET STATS