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?  

Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Reform expectations spur indices
Tue, 7 Aug Closing

Indices in the equity market in India were in no mood to give up their gains and as a consequence, closed strongly on yet another occasion today. The BSE-Sensex edged higher by around 190 points (up 1.1%) while the NSE-Nifty managed gains of the order of 55 points. BSE Mid Cap and BSE Small Cap indices did not match their larger counterparts in terms of magnitude of gains but still closed creditably higher. Nearly 5 stocks gained for every one that closed the day in the negative on the Sensex.

While most indices in Asia closed higher today, Europe was seen trading mixed. The rupee was trading at Rs 55.2 to the dollar at the time of writing.

The Sensex may not have gone up more than 200 points for the second consecutive day of the week but it was still a very strong finish. While it was the global cues that led to the buoyancy in yesterday's trade, today's gains were mostly about reform expectations from the newly installed finance minister, Mr P Chidambaram. The fact that foreign institutional investors continued to line up to buy Indian equities also helped matters. Investors would do well to not get carried away by this new found interest in Indian equities. They should stay focused on identifying fundamentally good stocks and buying into them only if the valuations justify the same.

On a day when the index closed strong, Tata Chemicals, world's second largest soda ash manufacturer, ended in the red. This was mainly on account of a poor show put up by the company for the quarter ended June 2012. On a standalone basis, its net profits fell 39% YoY on the back of a 3% fall in total revenues. Bottomline on a consolidated basis fared even worse, falling 46% YoY on the back of a close to 5% growth in topline. The company witnessed forex losses to the tune of Rs 615 m as against a loss of Rs 51 m in the year ago quarter and this partly explains the poor bottomline performance. Its operating performance also suffered as margins fell by around 2%.

Engineers India Ltd, one of Asia's leading design, engineering and turnkey contracting company has bagged a project management consultancy contract for a 2,000 km natural gas pipeline project. The company will offer engineering consultancy services comprising of preparation of pre-bid documents and will also function as 'owner's engineer' apart from providing project management consultancy and construction supervision services. The company continues to bag orders thereby expanding its order book. It has recently received some big ticket orders from Bharat Petroleum Corporation Ltd (BPCL) as well as from Petronet LNG. The stock closed higher by 2% today.

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 "Reform expectations spur indices". Click here!

1 Responses to "Reform expectations spur indices"

Manoj Sawant

Aug 7, 2012

Thanks all of you. This provides the way of trading. Please suggest how to calculate the move of nifty for the day?
Once again thank you.

Equitymaster requests your view! Post a comment on "Reform expectations spur indices". Click here!

Stock Market Updates

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SGX Nifty Trades Flat, Interglobe Aviation QIP, Rising Premium for Non-Life Insurers, and Buzzing Stocks Today (Today's Market)

May 12, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.


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


May 12, 2021 (Close)