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 Ends 267 Points Lower; Metal and Capital Goods Stocks Witness Huge Selling
Wed, 21 Aug Closing | Monish Vora, TM Team

India share markets continued to witness selling pressure during closing hours and ended their day deep in the red.

At the closing bell, the BSE Sensex stood lower by 267 points (down 0.7%) and the NSE Nifty closed down by 98 points (down 0.9%).

The BSE Mid Cap index ended the day down 1.3%, while the BSE Small Cap index ended the day down 1.4%.

Note that the decline in small-cap segment has been sharper since the Union Budget, with the BSE Smallcap index hitting its lowest level since February 2017.

--- Advertisement ---
Ex-Swiss Investment Banker Reveals His Biggest Investment Strategy in 4 Free Video Classes

Rahul Shah, ex-Swiss investment banker and Co-Head of Research at Equitymaster, is hosting a series of 4 free video classes for his readers, where he will reveal the details of something he's been working on for years…

The Double Income Project…

Rahul will show his readers, step-by-step, how to dramatically increase their income, potentially even double it…in what he believes is the earliest amount of time possible. a few short years.

For instance, if you make Rs 50,000 a month…Rahul's goal is to show you how to take it to Rs 100,000 in the long run.

Or if you make Rs 100,000…Rahul will show you how you could potentially increase it to Rs 200,000 in the long run.

This is different from anything Rahul Shah has ever done before – there's nothing to pay, no service to subscribe to and no forms to fill to attend these classes.

Just click here to sign up for the free video classes.
------------------------------

But Richa Agarwal says this fall currently offers the best bargains to the market.

In the below video, she talks about picking right stocks to benefit from the upcoming rebound.

Sectoral indices ended on a negative note with stocks in the metal sector and capital goods sector witnessing most of the selling pressure.

The Double Income Project: The Lazy Man's Guide to Doubling Your Income in The Long Term

The rupee was trading at 71.45 against the US$.

Asian stock markets finished on a mixed note. As of the most recent closing prices, the Hang Seng was up by 0.15% and the Shanghai Composite was trading flat. The Nikkei 225 was down 0.28%.

European markets were trading on a positive note. The FTSE 100 was up by 1.01%. The DAX was trading up by 1.02%, while the CAC 40 was up by 1.42%.

Speaking of stock markets in general, the market is typically focused on the most recent star performers.

You will often find the likes of HUL or HDFC Bank being the market darlings for never having a disappointing quarter.

But it is rare to find companies that thrive through most of their survival period.

Tanushree Banerjee shares few of her thoughts on this. Here's an excerpt of what she wrote in today's edition of The 5 Minute WrapUp...

  • It is rare to find companies that survive for decades. It's even rarer to find ones that thrive through most of their survival period.

    So, if you do not wish to pay steep valuations for the market darlings, you need to look for the companies with history and consistency on their side.

    And they shouldn't be too conspicuous to the market either.

    I am talking of companies like Hawkins and City Union Bank. They have a track record of paying dividends for decades.

    The dividends such companies pay are especially helpful at a time when globally interest rates are headed lower.

And, as seen in the chart below, 'risk-free returns' from debt seem to have gone missing.

Inflation Adjusted Risk Free Returns Are Negligible Globally

Inflation Adjusted Risk Free Returns Are Negligible Globally

In the news from the realty sector, Oberoi Realty share price and Capacite Infraprojects share price were in focus today.

--- Advertisement ---
Watch this Video Now And You Will Stop Worrying About Money...

If you are concerned about money, then you MUST watch this exclusive video right now.

Because in this video, Richa Agarwal, Head of Small Cap Research, talks about stocks that have made a select group of people Crorepatis.

They invested in just one stock and ended up becoming Crorepatis in the long run.

In this video, Richa also reveals her unique formula to identify such potential RARE stocks.

Plus, she also discusses her special report, 'One Stock Crorepati: How to Get Rich With This Little-Known Indian Stock'.

This video is now available for your viewing...

This video could be taken down any time soon. So, hurry…

Click here to watch the video right away…
------------------------------

Shares of the companies witnessed selling pressure after the income Tax (IT) Department carried out searches for suspicious transactions, including alleged purchase from dubious entities.

Capacite Infraprojects is Oberoi Realty group's biggest vendor.

As per the news, clarification has been sought by stock exchanges on the development and the companies are yet to respond.

As per the report, there was suspicion on related party transaction within Oberoi and the IT department also suspects a difference between the sale price of housing units shown on the books and the registered prices.

The report added that since Oberoi Realty deals in the luxury home segment, the department suspects benami transactions by flat buyers to hide their identities.

Earlier this month, the IT department had conducted searches at Mumbai and Pune-based offices of four other realty firms, including Hub Town, Atul Projects, Wadhwa Group and Radius Developers.

A statement issued by the Press Information Bureau, on the behalf of IT department, said that the searches across more than 40 premises led to recovery of evidence related to receipt of 'On Money' sale of commercial and residential blocks, bogus unsecured loans taken, bogus long-term capital gains and various other sham transactions to evade income aggregating about Rs 7 billion.

How this all pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

In the news from the commodity space, crude oil prices witnessed buying interest today.

Prices rose above US$ 60 a barrel for the first time in over a week amid data that showed a larger-than-expected drawdown in US crude inventories.

The American Petroleum Institute (API) reported a crude oil inventory draw of 3.45 million barrels for the week ending August 15, compared to analyst expectations of a 1.889-million barrel draw.

The inventory build this week compares to last week's surprise build of 3.7 million barrels, according to API data.

Oil prices rose on the back of above announcement but ongoing worries about a global economic recession capped gains.

Note that crude oil has been witnessing volatility lately amid weekly declines in US inventories and rising geopolitical tensions between Iran and other countries.

Meanwhile, volatility was also seen on the back of ongoing geopolitical tensions in the Middle East.

How this all pans out remains to be seen.

To know more about crude oil and the recent developments in this space, you can read Vijay Bhambwani's recent article here: Message of the Markets - What is Crude Oil Indicating?

And to know what's moving the Indian stock markets today, check out the most recent share market updates here.

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

Equitymaster requests your view! Post a comment on "Sensex Ends 267 Points Lower; Metal and Capital Goods Stocks Witness Huge Selling". Click here!

  

Stock Market Updates

Sensex Ends 1,921 Points Higher; Banking and Auto Stocks Witness Huge Buying (Today's Market)

Sep 20, 2019 Closing

While the BSE Sensex closed higher by 1,921 points, NSE Nifty closed higher by 569 points.

Sensex Zooms Over 1,900 Points after Government Slashes Corporate Tax Rates (Today's Market)

Sep 20, 2019 12:30 pm

Much needed tax relief buoys markets.

ASHOK LEYLAND Surges by 13%; BSE AUTO Index Up 7.5% (Today's Market)

Sep 20, 2019 11:55 AM

ASHOK LEYLAND share price has surged by 13% and its current market price is Rs 66. The BSE AUTO is up by 7.5%. The top gainers in the BSE AUTO Index are ASHOK LEYLAND (up 13.3%) and EICHER MOTOR (up 13.8%). The top losers [TOPLOSERS].

VOLTAS Surges by 6%; BSE CAPITAL GOODS Index Up 6.1% (Today's Market)

Sep 20, 2019 11:55 AM

VOLTAS share price has surged by 6% and its current market price is Rs 664. The BSE CAPITAL GOODS is up by 6.1%. The top gainers in the BSE CAPITAL GOODS Index are VOLTAS (up 6.1%) and HONEYWELL AUTOMATION (up 6.4%). The top losers are KALPATARU POWER (down 0.1%) and CG POWER & INDUSTRIAL (down 4.9%).

TVS MOTORS Surges by 9%; BSE AUTO Index Up 7.5% (Today's Market)

Sep 20, 2019 11:55 AM

TVS MOTORS share price has surged by 9% and its current market price is Rs 413. The BSE AUTO is up by 7.5%. The top gainers in the BSE AUTO Index are TVS MOTORS (up 9.1%) and EICHER MOTOR (up 13.8%). The top losers [TOPLOSERS].

TATA STEEL Surges by 5%; BSE METAL Index Up 3.8% (Today's Market)

Sep 20, 2019 11:55 AM

TATA STEEL share price has surged by 5% and its current market price is Rs 368. The BSE METAL is up by 3.8%. The top gainers in the BSE METAL Index are TATA STEEL (up 5.1%) and JINDAL STEEL & POWER (up 6.9%). The top losers is NMDC LTD (down 0.1%).

View More Indian Share Market News

Most Popular

Buy these 7 Stocks if You Believe in India(The 5 Minute Wrapup)

Sep 12, 2019

News headlines predict gloom and doom for India these days. You should ignore them.

A Rare Opportunity to Buy the Top 5 Stocks in the Market(The 5 Minute Wrapup)

Sep 16, 2019

The stock market today is throwing up a great opportunity to pile on quality stocks.

A Recession Proof Stock You Can Bet On(Profit Hunter)

Sep 10, 2019

Usually, the typical horizon period for my smallcap recommendations is 3 to 5 years. But if you ask me, this could be one business that you could own and pass on to future generations.

This Company Will Do Well Despite the Slowdown(The 5 Minute Wrapup)

Sep 11, 2019

How financial inclusion provides a big runway for this stock recommendation.

The 5 Best Trading Opportunities I've Spotted(Profit Hunter)

Sep 13, 2019

These 10 auto stocks should be in your watchlist for the next 32 months. Paste them on your workstation NOW.

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 20, 2019 (Close)

MARKET STATS