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 sheds 5% during the week
Fri, 19 Aug Closing

In what was yet another painful session for the Indian stock market, the indices opened near the dotted line today and went deeper into the negative as the day progressed. Selling pressure in IT, engineering, commodity and banking stocks ensured that the indices close well below the breakeven. Reports of the Planning Commission targeting GDP growth in excess of 8% for the 12th Plan period failed to enthuse investors. While the BSE-Sensexclosed lower by around 328 points (down 2%), the NSE-Nifty closed lower by around 99 points (down 2%). The BSE-Midcap and BSE-Small cap were not spared either and lost 1% and 2% respectively.

As regards global markets, major indices across Asia closed lower today. The European indices have also opened in the red. The rupee was trading at Rs 45.95 to the dollar at the time of writing.

The BSE Sensex has shed more than 5% this week, backed by weak global macro-economic scenario, concerns over lower GDP growth and political uncertainties. The biggest losers over the week have been from the realty, commodity, power and banking space. While stocks like DLF (shed 10% during the week) have borne the brunt of regulatory penalty, banks like ICICI Bank and SBI have been out of investor favour due to speculations over lower profits and higher NPAs over the next few quarters. Tata Motors (down 14%) was the biggest loser of the week amongst Sensex stocks due to lower sale volumes and lingering pressure of high interest rates. IT behemoths Infosys and Wipro were also not spared as they lost nearly 8% each due to fears of US recession impacting their businesses.

Pharma major Ranbaxy Laboratories may part away with its rights to make a generic version of Pfizer Inc's blockbuster drug Lipitor, if it fails to win timely US approval for the cholesterol pill. It may be noted that a legal settlement with Pfizer had given Ranbaxy six months' exclusivity to market generic Lipitor in the US. However, delays in Food and Drug Administration approval may prevent the Indian company from selling its generic version. Further, as per newspaper reports, a dispute settlement with the US FDA may cost Ranbaxy more than US$ 1 bn. Ranbaxy was hoping to capitalise on FTF (first to file) opportunities for products Flomax, Lipitor and Nexium, for which it entered into out-of-court settlements. That said, with respect to these launches, an element of uncertainty cannot be discounted given its pending problems with the US regulator.

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 sheds 5% during the week". 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