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?  

Banking and FMCG stocks move up
Fri, 13 Aug 11:30 am

After a muted start the Indian indices have moved firmly into the positive territory in early hours of trade. Other key Asian markets are all trading well in the green. Currently heavyweights in the Sensex are mainly trading positive with stocks from banking and FMCG space trading higher. However, stocks from IT and metals space are trading flat.

The BSE-Sensex is trading up by around 90 points, while the NSE-Nifty is up by about 32 points. Strong buying interest is being witnessed amongst the mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are both trading higher by 1.2%. The rupee is trading at 46.63 to the US dollar

Pharma stocks are mainly trading positive with Wockhardt and Bilcare leading the gains. Ranbaxy announced its 2QCY10 results. Revenues grew by 14% YoY during the quarter primarily led by strong sales from 'Valacyclovir' in the US and growth in other key geographies. Various cost rationalization measures along with strong revenues from 'Valacyclovir' led to a 16.4% improvement in operating margins. Profits however fell by 52% YoY due to absence of extraordinary income and forex losses of Rs 1.1 bn as against gains of Rs 1.9 bn in 2QCY09. The MD and CEO Atul Sobti stepped down from his post, with Arun Sawhney (President - Global Pharmaceutical Business) taking his place.

Oil & Gas stocks are trading strong with Cairn India and Reliance Industries leading the gains. As per a leading news daily, the top two players in the Indian airline space Kingfisher Airlines and Jet Airways collectively owe Rs 17.7 bn to the PSU oil companies for the four quarters ended June 2010. This works out to be 94% of what all private airlines in the country owe to the three oil PSU's namely IOC, HPCL and BPCL. Naresh Goyal owned Jet Airways has dues amounting to Rs 9.6 bn and Vijay Mallya's Kingfisher Airlines has to pay Rs 8.14 bn to the oil companies. This does not help the cash bleeding PSUs which were a part of the subsidy sharing mechanism until the petrol prices were freed recently. Although delay in payments do not add to the losses of the OMC's as interest is recovered on overdue payments it certainly worsens the working capital cycle. However, the OMCs have put the defaulting airlines on the cash and carry model as a measure to avoid delay in future payments.

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 "Banking and FMCG stocks move up". Click here!

  

Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 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.

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

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


Feb 26, 2021 (Close)

MARKET STATS