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 Surges 550 Points; HDFC Bank & Reliance Industries Top Gainers
Tue, 4 Aug 12:30 pm | Monish Vora, TM Team

Share markets in India continued their upward climb today amid buoyed global equities, driven higher by energy and banking stocks.

Reversing from declines for four straight sessions, benchmark indices edged higher today tracking strong cues from global peers and upbeat Q1 earnings.

The BSE Sensex is trading up by 566 points, up 1.5%, at 37,500 levels.

Meanwhile, the NSE Nifty is trading up by 158 points.

The BSE Mid Cap index is trading up by 0.7%.

The BSE Small Cap index is trading up by 1.2%.

--- Advertisement ---
Here's an urgent profit opportunity from us that no mainstream media is revealing...

The #1 Stock for 2021.

...An innovative stock with the industry giants chasing it for its technology to touch millions and millions of people every day.

It serves several clients across the globe, but what got me is this...

The stock is leaving all its competitors behind despite the COVID crash, and now the price has already started to move.

There's actually one more reason why this stock could take off and make its early investors rich.

It's revealed here in this note with transparency.
------------------------------

On the sectoral front, gains are largely seen in the energy sector and banking sector.

IT stocks, on the other hand, are witnessing selling pressure today after US President Donald Trump signed an executive order restricting federal agencies from contracting or subcontracting foreign workers, hurting Indian IT professionals who work in the US on the H-1B visa.

The rupee is trading at 75.09 against the US$.

Gold prices are trading down by 0.3% at Rs 53,851 per 10 grams.

Speaking of the current stock market scenario, individual investors who have missed the rally in stocks over past three months are trying to catch up. They believe that since they missed the bus then, they should make up for it by buying the stocks that look cheap now.

The problem is that most of the stocks that apparently look cheap are undervalued for a reason. And blindly buying into them could be fraught with risk.

In her latest video, Tanushree Banerjee talks about how cheap and high dividend yield stocks could be value traps.

Tune in to find out more:

Moving on, HDFC Bank is among the top buzzing stocks today.

Shares of the private lender jumped 6% after the Reserve Bank of India (RBI) approved Sashidhar Jagdishan as the bank's next chief executive officer.

--- Advertisement ---
Going Live on 30th September 6pm To Answer A Burning Question

Economies across the globe have collapsed.

However, despite all the weak economic data, the stock markets have rallied.

But how sustainable is this rally?

The burning question of the hour is

"Where are the Stock Markets Headed?"

And that is exactly where our upcoming live and exclusive free webinar will help you.

Join Nilesh Shetty, Associate Fund Manager, Equity Funds and I.V. Subramaniam, Director, Quantum AMC LIVE as they address your most pressing concerns...and try and fulfill your need for the next big investment opportunity.

If you are a serious investor, you cannot afford to miss this opportunity.

Register FREE for this upcoming webinar in 1-click
[Yes! I want to attend this Exclusive Webinar]


Yes, also send me your financial planning newsletter, Quantum Direct, free of charge.

Date: 30th Sept. | Time: 6pm | Venue: Your Computer
------------------------------

The private sector lender received the RBI's approval letter last night. Jagdishan is currently additional director and head of finance, human resources, at the bank.

He will take over from Aditya Puri, who will step down as the bank's longest serving CEO ever since he took charge 26 years ago. Puri is set to retire by October this year.

Jagdishan was the bank's top choice among the three shortlisted candidates, with Kaizad Bharucha and Sunil Garg also in the running.

In November, the bank had constituted a six-member search committee to find a replacement for Puri.

Over the last few months, HDFC Bank had seen a flurry of senior level exits of Abhay Aima, group head of private banking, Ashok Khanna, group head of secured vehicle loans, and Munish Mittal, chief information officer - all veterans and close aides of Puri.

While Khanna's exit was linked to allegations of conflicts of interest in the purchase of global positioning systems for vehicles financed by the bank, Aima and Mittal stepped down due to personal reasons.

UNLOCKED: Up to 3x More Gains During the Corona Crisis...

In 2018, private sector lender Axis Bank had a similar series of high-level exits after the retirement of Shikha Sharma, who was succeeded by Amitabh Chaudhary as managing director and chief executive officer.

HDFC Bank share price is presently trading up by 4.2%.

Note that, HDFC Bank is one that has always adapted to changing times.

HDFC Bank wanted to transform itself from a leader in the physical banking to a leader in online banking. Since then, HDFC Bank has constantly focused on going digital.

In 2004, only 10% of customer transactions were initiated through internet and mobile. The number has gone up to 92% in 2019.

HDFC Bank's Digital Transformation

It is a great example of a company which has taken advantage of its scale and embraced disruption rather than fear it.

These are traits that one should look for in picking stocks. They not only withstand the disruption but also gain from it in the long-run.

Moving on to news from the pharma sector, shares of Wockhardt are witnessing buying interest today.

Shares of the company extended their gains into third consecutive day today after the company said it will supply millions of doses of multiple Covid-19 vaccines, including that being developed by AstraZeneca and Oxford University, under a deal with the UK government.

With today's gains, the stock has rallied about 28% in the past three days.

This is the latest step by the UK to secure supplies and production of Covid-19 vaccines after striking four deals with drug makers to buy their potential shots.

The UK government has also reserved one fill-and-finish production line at a Wockhardt subsidiary in Wrexham, Wales for its exclusive use for the next 18 months to secure supply. It is expected to start the Wexham line in September.

Wockhardt share price is presently trading up by 8.3%.

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 Surges 550 Points; HDFC Bank & Reliance Industries Top Gainers". Click here!

  

Stock Market Updates

SAIL Share Price Up by 5%; BSE METAL Index Up 2.8% (Today's Market)

Sep 25, 2020 03:34 PM

SAIL share price is trading up by 5% and its current market price is Rs 34. The BSE METAL is up by 2.8%. The top gainers in the BSE METAL Index are SAIL (up 5.2%) and JINDAL STEEL & POWER (up 7.2%).

FORCE MOTORS Share Price Up by 5%; BSE AUTO Index Up 3.4% (Today's Market)

Sep 25, 2020 03:28 PM

FORCE MOTORS share price is trading up by 5% and its current market price is Rs 1,060. The BSE AUTO is up by 3.4%. The top gainers in the BSE AUTO Index are FORCE MOTORS (up 5.2%) and MOTHERSON SUMI (up 5.6%).

VODAFONE IDEA Share Price Up by 13%; BSE 500 Index Up 2.4% (Today's Market)

Sep 25, 2020 03:24 PM

VODAFONE IDEA share price is trading up by 13% and its current market price is Rs 10. The BSE 500 is up by 2.4%. The top gainers in the BSE 500 Index are VODAFONE IDEA (up 13.5%) and IFB INDUSTRIES LTD (up 11.9%). The top losers are OBEROI REALTY and BAJAJ HOLDINGS & INVESTMENT .

BAJAJ CONSUMER CARE Share Price Up by 5%; BSE FMCG Index Up 2.0% (Today's Market)

Sep 25, 2020 03:24 PM

BAJAJ CONSUMER CARE share price is trading up by 5% and its current market price is Rs 185. The BSE FMCG is up by 2.0%. The top gainers in the BSE FMCG Index are BAJAJ CONSUMER CARE (up 5.1%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.5%) and EMAMI LTD (down 0.5%).

ADANI TRANSMISSION Share Price Up by 6%; BSE POWER Index Up 2.2% (Today's Market)

Sep 25, 2020 03:24 PM

ADANI TRANSMISSION share price is trading up by 6% and its current market price is Rs 250. The BSE POWER is up by 2.2%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 6.0%) and TATA POWER (up 5.5%). The top losers is SIEMENS (down 0.5%).

Indian Indices Trade Higher; HCL Tech, Bharti Airtel & TCS Up Over 4% (Today's Market)

Sep 25, 2020 12:30 pm

The BSE Sensex is trading up by 451 points, while the NSE Nifty is trading up by 127 points.

View More Indian Share Market News

Most Popular

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers(Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

My Top Stock to Buy in this Market Selloff(Profit Hunter)

Sep 22, 2020

The recent correction offers a great opportunity to buy this high conviction smallcap stock.

What Do the Charts Say About Buying Smallcaps Now?(Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

Can the Nifty Fall to 10,200?(Fast Profits Daily)

Sep 24, 2020

The Nifty has reached an important support level today. If it breaks then we could see further downside.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 25, 2020 (Close)

MARKET STATS