X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Mid and smallcaps buck the trend 
(Thu, 16 Aug Closing) 
 
The indices in Indian stock markets were subject to profit booking since the start of the session today. Barring Auto and healthcare most sectoral indices closed in the red. Select midcap and smallcap stocks however bucked the trend. While the Sensex today closed lower by 71 points, the NSE-Nifty today closed lower by 17 points. The BSE Mid Cap and the BSE Mid Cap on the other hand notched gains of 0.2% each.

As regards global markets, Asian indices closed mixed today while European indices have opened flat to positive. The rupee was trading at Rs 55.75 to the dollar at the time of writing.

PSU oil marketing companies including Bharat Petroleum Corporation Ltd. (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Mangalore Refineries and Petrochemicals Ltd. (MRPL) closed lower today due to the steep rise in global crude prices. Crude prices touched their highest level yesterday since May 2012 on report of a steep drop in US oil stock piles and fresh tensions in the Middle East. Also, there were hopes for further stimulus from major central banks to support the weakening global economy that helped the prices move higher. Fears of supply disruptions erupted after Saudi Arabia, the world's biggest oil exporter ordered its citizens to leave Lebanon over kidnapping fears. The Energy Information Administration (EIA) said US oil stockpiles fell 3.7 million barrels last week. Gasoline inventories fell 2.4 million barrels, while distillate stocks rose 700,000 barrels.

Auto stocks closed mixed today. While Hero Motocorp and M&M closed firm, Maruti Suzuki closed in the red. After the brutal violence that erupted in Maruti Suzuki's Manesar plant resulting in a lockout there, the company intends to reopen the plant on August 21. This will mark a period of almost one month since the plant was shut down. The Manesar plant, which has an annual capacity of 550,000 units, rolls out the company's popular models Swift, entry level sedan Dzire and SX4 along with compact car A-Star. Given that every day of lost production had cost the company heavily, the reopening of the plant is a positive for the company. However, volumes for the July-September quarter are bound to be hit.

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

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Mid and smallcaps buck the trend". Click here!

  
 

S&P BSE SENSEX


May 26, 2017 (Close)

MARKET STATS