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, Nifty Open Flat; Tech Mahindra Zooms 8% Post June Quarter Results
Fri, 30 Jul 09:30 am

Asian share markets are trading on a negative note today as risks of China crackdown still loomed.

Hong Kong's Hang Seng index slipped 2%, while the Shanghai Composite lost 0.5%. The Nikkei is trading down by 1.6%.

In US stock markets, Wall Street indices ended higher, boosted by robust US earnings and forecasts, while data showed the economy recovered to pre-pandemic levels in the second quarter.

The US economy grew solidly in the second quarter, putting the level of gross domestic product (GDP) above its pre-pandemic peak, but the pace was slower than expected.

The Dow Jones Industrial Average rose 154 points or 0.4% while the Nasdaq added 16 points, or 0.1%.

The Dow hit intraday record highs early in the session.

Back home, Indian share markets have opened on a flat note.

--- Advertisement ---
This is Your Last Chance...

This is your last chance to sign up for our urgent broadcast on India's Revival.

At 5 pm today, India's leading research analyst, Tanushree Banerjee, will show our readers how an upcoming mega revival would drastically change the state of the Indian economy...

And how investing in three high-potential stocks at the heart of this revival...

...could potentially hand them 100%, 300%, 500%, even 1,000% or more in the long run.

Tanushree will also cover a lot more in this critical briefing...

Since you are one of our valued readers, we sincerely urge you to save your seat now.

Click Here to Reserve Your Seat (There may not be any replays)
------------------------------

Market participants will track shares of Britannia, Sun Pharma, IOC, Macrotech Developers, Marico, and Nazara Tech as these companies are slated to post their quarterly numbers today.

Meanwhile, NTPC and IDFC First Bank will release their earnings tomorrow.

The BSE Sensex is trading down by 16 points. Meanwhile, the NSE Nifty is trading lower by 9 points.

ITC and Infosys are among the top gainers today. SBI, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened on a flat note. The BSE Small Cap index is trading higher by 0.4%.

Sectoral indices are trading mixed with stocks in the IT sector and automobile sector witnessing buying interest.

Banking stocks, on the other hand, are trading in red.

Shares of Tech Mahindra and Tejas Networks hit their 52-week highs today.

The rupee is trading at 74.30 against the US$.

Gold prices are trading up by 1.5% at Rs 48,266 per 10 grams.

Meanwhile, silver prices zoomed 2.6% to Rs 68,140 per kg.

Speaking of stock markets, in one of his videos for Fast Profits Daily, India's #1 trader Vijay Bhambwani, shares how you can change the way you trade in volatile markets.

Tune in to the below video to find out more:

In news from the insurance sector, the cabinet has approved amendment to the General Insurance Business Act, paving way for privatisation of one state-run general insurer.

Going LIVE Today at 5pm: Our Special Event on India's Revival

The amendments seek to allow bringing down government holding to below 51% and transfer of management control to private player in case of shortlisted firm.

In her budget speech this year, finance minister Nirmala Sitharaman had said that the government will take up two public sector banks (PSBs) and one general insurance company for privatisation in fiscal 2022.

At present, there are four state run general insurance companies - National Insurance Company, New India Assurance Company, Oriental Insurance Company and the United India Insurance Company.

According to reports, NITI Aayog has suggested the name of United India Insurance to the core group of secretaries on disinvestment headed by the cabinet secretary.

The government had provided capital support to National Insurance, Oriental Insurance and United India Insurance last year, to meet regulatory requirement and increase the authorised share capital.

For fiscal 2022, the government has laid out an ambitious plan of Rs 1.75 lakh crore from stake sale in PSUs and financial institutions.

How the divestment plan pans out remains to be seen.

Speaking of the insurance sector, have a look at the chart below which shows the investment assets of non-life insurers and life insurers over the past 10 years:

Investment Assets of Non-Life Insurers 11x That of Life Insurers

As per Tanushree Banerjee, Co-Head of Research at Equitymaster, the above chart is enough proof of how big an earning opportunity is the zero-cost float to the non-life insurers. Their investment assets under management is nearly 11 times that of life insurers.

Tanushree recently recommended a high-quality stock from this space. Subscribers can read the report here (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

--- Advertisement ---
Making India Future Ready - The Next 20 years

HelpYourNGO supported by Quantum MF brings to you one-of-a-kind 2-day Mega webinar.

Join Industry stalwarts Ronnie Screwvala, T V Mohandas Pai, Zia Mody, Mirai Chatterjee, Amarjeet Singh and Eloy Lindeijer as they share their views and impart wisdom to help us lead the way into the future.

Event details: Mon, 27th & Tue, 28th Sept - 5:30 pm to 7:45 pm.

Register here for this EXCLUSIVE WEBINAR: https://bit.ly/3CtAZUI
------------------------------

Moving on to stock specific news...

Biocon is among the top buzzing stocks today.

The US drug regulator has approved Biocon's Semglee, the first interchangeable biosimilar insulin product, to treat diabetes patients.

This means that Semglee can be substituted for its reference drug Sanofi's Lantus in the US without any intervention.

Based on the reported sales in 2020, insulin glargine (Lantus and Basaglar) had sales of US$4.2 bn globally, of which US$1.9 bn was in the US.

In a statement, the USFDA said,

  • The move will empower patients by helping to increase access to safe, effective and high-quality medications at potentially lower cost.

Semglee will be manufactured by Biocon Biologics, a subsidiary of Biocon, and marketed by its partner Viatris Inc (earlier Mylan Pharmaceuticals Inc) in the US.

Shreehas Tambe, deputy CEO of Biocon Biologics, said that the product might soon be available in India too, provided the regulatory pathway was cleared.

As per media reports, this will mean additional revenues of 8% to 15% for Biocon. This on top of no competition.

Biocon share price has opened the day down by 0.2%.

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, Nifty Open Flat; Tech Mahindra Zooms 8% Post June Quarter Results". Click here!

  

Stock Market Updates

RELIANCE IND. at All Time High; BSE OIL & GAS Index Down 0.8% (Today's Market)

Sep 24, 2021 01:48 PM

RELIANCE IND. share price has hit an all time high at Rs 2,505 . The BSE OIL & GAS Index is down by 0.8%. Among the top gainers in the BSE OIL & GAS Index today are RELIANCE IND. (down 0.7%) and PETRONET LNG (up 0.7%). The top losers include RELIANCE IND. and BPCL (down 0.9%).

Sensex Crosses 60,000 for the First Time, Nifty Tops 17,900; IT Stocks Lead Rally (Today's Market)

Sep 24, 2021 09:30 am

Indian share markets open higher. The BSE Sensex opened up by 298 points, while the Nifty is trading higher by 77 points.

KEI INDUSTRIES at All Time High; BSE POWER Index Down 0.3% (Today's Market)

Sep 24, 2021 09:48 AM

KEI INDUSTRIES share price has hit an all time high at Rs 930 (up 1.9%). The BSE POWER Index is down by 0.3%. Among the top gainers in the BSE POWER Index today are KEI INDUSTRIES (up 1.9%) and SIEMENS (up 0.1%). The top losers include TATA POWER (down 0.2%) and KEC INTERNATIONAL (down 0.4%).

WIPRO at All Time High; BSE IT Index Up 2.1% (Today's Market)

Sep 24, 2021 09:42 AM

WIPRO share price has hit an all time high at Rs 699 (up 3.1%). The BSE IT Index is up by 2.1%. Among the top gainers in the BSE IT Index today are WIPRO (up 3.1%) and L&T INFOTECH (up 6.3%). The top losers include HEXAWARE TECHNOLOGIES .

L&T at All Time High; BSE CAPITAL GOODS Index Up 0.9% (Today's Market)

Sep 24, 2021 09:42 AM

L&T share price has hit an all time high at Rs 1,810 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.9%. Among the top gainers in the BSE CAPITAL GOODS Index today are L&T (up 1.7%) and HONEYWELL AUTOMATION (up 0.8%). The top losers include V GUARD INDUSTRIES (down 0.1%) and HEG (down 0.1%).

KPIT TECHNOLOGIES Share Price Up by 5%; BSE IT Index Up 1.9% (Today's Market)

Sep 24, 2021 09:30 AM

KPIT TECHNOLOGIES share price is trading up by 5% and its current market price is Rs 366. The BSE IT is up by 1.9%. The top gainers in the BSE IT Index are KPIT TECHNOLOGIES (up 5.1%) and L&T INFOTECH (up 6.2%).

View More Indian Share Market News

Most Popular

5 Specialty Chemical Stocks that Turned Multibaggers in One Year(Views On News)

Sep 17, 2021

These specialty chemical stocks have surged 200% or more in the last year. Do you own any?

A Rare Buying Opportunity in an Exciting Stock(Profit Hunter)

Sep 16, 2021

Whether agriculture sector goes through a structural transformation or not, this agrochemical stock has a good chance of winning.

5 Indian Companies with Over 7% in Dividend Yield(Views On News)

Sep 17, 2021

These stocks will give you better yields than bank deposits.

A Great Time to Buy ITC(Profit Hunter)

Sep 17, 2021

Is the worst over for the stock of ITC?

India's Most Trusted Corporate Group is...(Views On News)

Sep 11, 2021

We conducted a poll of 17 of the most popular corporate groups in India. With an overwhelming response from 5,274 participants, here is what we found.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2021
Get our special report Multibagger Stocks Guide (2021 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 24, 2021 02:36 PM

MARKET STATS