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?  

Realty, auto stocks pull down markets
Wed, 17 Aug 01:30 pm

The Indian stock market shed all its gains over the last two hours of trade and is now trading marginally in the green. Stocks from the software, FMCG and oil & gas space are trading in the green while those from the realty, auto and banking space are losing the most.

The BSE-Sensex is trading up by 24 points while NSE-Nifty is trading almost flat. The BSE Midcap and BSE Small cap indices are down by 1.2% and 1.6% respectively. The rupee is trading at 45.39 to the US dollar.

Realty stocks have been trading in the red with DLF Ltd, Unity Infraprojects and Supreme Infrastructure leading the pack of losers. However, Madhucon Projects and Lok Housing and Constructions are trading firm. As per a leading financial daily, DLF has been slapped with a fine of Rs 6.3 bn by Competition Commission of India (CCI) for misusing its dominant market position along with Haryana government agencies. The company has been alleged of putting the buyers of Gurgaon project at a disadvantage. As per CCI, for Belaire project, the company has constructed 29 floors instead of 19 floors, on the basis of which apartment allottees had booked their respective apartments. As a result of this, the areas and facilities originally earmarked for the apartment allottees are substantially compressed. To make things worse, the project has been abnormally delayed. The apartments were supposed to be delivered to the buyers in 2009. However, it is expected to be completed only by the end of this year. It is also suggested that the company has not deposited the amount collected from allottees in a designated escrow account. There are chances that such funds might be used for any purpose at company's discretion. The company is going through the CCI order and is examining legal options.

Energy stocks have been trading mixed with Oil and Natural Gas Corporation (ONGC) GAIL India and Petronet LNG leading the pack of gainers. However, Gujarat State Petronet and Indian Oil Corporation (IOC) are trading weak. As per a leading financial daily, HPCL is in the process of evaluating for acquisition around ten Australian companies with expertise in coal bed methane (CBM) and shale gas. It is looking at small sized companies for building capacity. No further details were disclosed. The company's efforts are aimed at being able to qualify technically when India conducts bidding of shale gas blocks shortly. It is to be noted that the country is finalizing a policy framework for commercial exploitation of domestic shale gas reserves and launching auctions for blocks shortly. India has sought the help of the US Geological Survey to identify areas where such reserves exist, to transfer the technology required to tap these reserves and to finalize an exploration policy. While there are no official estimates of shale gas reserves in India, as per oilfield services provider Schlumberger Ltd, the country has shale gas reserves of between 300 trillion cubic feet (tcf) and 2,100 tcf. Separately, the company plans to invest Rs 30 bn towards exploration and production (E&P) efforts through Prize Petroleum Co. Ltd. The stock of the company is trading flat.

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 "Realty, auto stocks pull down markets". Click here!


Stock Market Updates

J&K BANK Share Price Up by 8%; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:35 PM

J&K BANK share price is trading up by 8% and its current market price is Rs 32. The BSE BANKEX is up by 2.8%. The top gainers in the BSE BANKEX Index are J&K BANK (up 7.6%) and RBL BANK (up 5.2%).

RELIANCE IND. Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

Mar 3, 2021 03:27 PM

RELIANCE IND. share price is trading up by 5% and its current market price is Rs 2,216. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is RELIANCE IND. (up 5.1%). The top losers are PETRONET LNG (down 0.1%) and BPCL (down 0.4%).

AU SMALL FINANCE BANK at All Time High; BSE BANKEX Index Up 2.8% (Today's Market)

Mar 3, 2021 03:23 PM

AU SMALL FINANCE BANK share price has hit an all time high at Rs 1,224 (up 4.2%). The BSE BANKEX Index is up by 2.8%. Among the top gainers in the BSE BANKEX Index today are AU SMALL FINANCE BANK (up 4.2%) and KOTAK MAHINDRA BANK (up 3.0%).

REDINGTON Share Price Down by 5%; BSE 500 Index Up 1.9% (Today's Market)

Mar 3, 2021 03:13 PM

REDINGTON share price is trading down by 5% and its current market price is Rs 200. The BSE 500 is up by 1.9%. The top gainers in the BSE 500 Index are IFCI (up 19.9%) and IDBI BANK (up 12.1%). The top losers are REDINGTON (down 5.1%) and SYMPHONY (down 5.1%).

RBL BANK Share Price Up by 5%; BSE BANKEX Index Up 2.7% (Today's Market)

Mar 3, 2021 03:09 PM

RBL BANK share price is trading up by 5% and its current market price is Rs 249. The BSE BANKEX is up by 2.7%. The top gainers in the BSE BANKEX Index are RBL BANK (up 5.0%) and FEDERAL BANK (up 5.7%).

Sensex Trades Over 500 Points Higher; Dow Futures Up by 147 Points (Today's Market)

Mar 3, 2021 12:30 pm

BSE Sensex is trading up by 586 points, while the NSE Nifty is trading up by 190 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.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


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


Mar 3, 2021 (Close)