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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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No Respite for Indian Indices
Wed, 3 Aug Closing

The Indian equity markets continued to bleed through the day, ending deep in the red as they tracked the weak global markets and awaited a decision on the Goods and Services Tax Bill. Stocks across the board ended on a weak note with those from the realty and FMCG spaces witnessing maximum selling pressure. The BSE Sensex closed lower by 284 points, while the NSE Nifty closed lower by 78 points. Mid and small caps were not spared either. The S&P BSE Mid Cap and S&P BSE Small Cap indices closed the day lower by 1.5% and 1.2% respectively.

Asian markets finished mixed as of the most recent closing prices. The Shanghai Composite gained 0.24%, while the Nikkei 225 & the Hang Seng fell 1.88% and 1.68% respectively. European markets are trading mixed. The DAX is trading higher by 0.05%, while the CAC 40 and the FTSE 100 are trading lower. They are down 0.47% and 0.16% respectively.

The rupee was trading at 66.93 against the US$ in the afternoon session. Oil prices were trading at US$ 39.78 at the time of writing.

Engineering stocks languished in the red today with Voltas Ltd and TRF Ltd leading the losses. As per an article in The Economic Times, Bharat Heavy Electricals Limited (BHEL) announced that it has successfully commissioned the second 500 MW thermal unit at Marwa Thermal Power Station (TPS) in Chhattisgarh.

TPS has been set up by Chhattisgarh State Power Generation Company Ltd (CSPGCL).

It is to be noted that BHEL contributes 12,500 MW to Chattisgarh's installed power generation capacity. The first unit of Marwa TPS was also commissioned earlier by BHEL.

With respect to the contract, BHEL's scope of work includes engineering, and commissioning of steam turbines along with associated auxiliaries and electricals.

Speaking about BHEL's financial performance, Radhika Pandit, Managing Editor of ValuePro, has recently shared a few insights on why the stock lost 25% in the first six months of 2016. (Subscription Required).

Moving on to the news from the auto ancillary sector. According to an article in a leading financial daily, Bosch Ltd is planning to launch manufacturing of anti-lock braking system (ABS) for two-wheelers at its Chakan plant near Pune from subsequent fiscal.

Reportedly, the Chakan plant will manufacture 7-8 lakh ABS for two-wheelers per annum.

Moreover, as per the government amendment, all new motorcycles with displacement of 125 cc or more should be equipped with ABS from April 2018 and for all existing and new bikes from April 2019.

Going forward, whether Bosch meets the massive demand for such systems in the country will be the key thing to watch out for.

Considering the past sluggish growth in the two-wheeler industry, (Subscription Required), we have compared the volume growth of two-wheelers with other segments of the auto industry in one of the premium editions of The 5 Minute WrapUp. The stock price of Bosch finished the day up by 1.9% on the BSE.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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S&P BSE SENSEX


Jun 22, 2017 (Close)

MARKET STATS