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 354 Points Higher; Banking and Finance Stocks Rally
Fri, 28 Aug Closing | Monish Vora, TM Team

Indian share markets continued their momentum during closing hours today and ended on a strong note.

Benchmark indices gained for the sixth straight day today, amid positive global equities, led by heavy buying in banking and financial stocks.

Bluechip financial counters such as Axis Bank, ICICI Bank and SBI boosted market sentiment as analysts turned positive on the sector.

According to global brokerage UBS, the economy is recovering gradually, lowering the risks of bad loan formation.

At the closing bell, the BSE Sensex stood higher by 354 points. Meanwhile, the NSE Nifty stood higher by 96 points.

--- Advertisement ---
2 High Growth Stocks for a Potential Millionaire Portfolio

Our co-head of research, Tanushree Banerjee, has uncovered these two high-growth companies.

The first company is using the same model which Apple used to become a global giant.

This asset light model of growth could enable this company to generate excellent shareholder returns... just like Apple's.

The second company is already a world leader in its domain. But the big catalyst of growth is yet to come. A catalyst of $1.4 trillion.

Both these companies have got a long runway of growth ahead. And Tanushree is very confident, their stocks could offer great returns to investors in the coming years.

Tanushree revealed the details of these two stocks at her recently concluded special event - The Great Indian Wealth Project.

You had registered for this event but missed it for some reason.

You can still get all the details about these stocks by watching the special replay of this event.

Get the Details of 2 High Growth Stocks for a Potential Millionaire Portfolio
------------------------------

The top gainers in NSE today were Axis Bank, IndusInd Bank, and UPL.

SGX Nifty was trading at 11,690, up by 131 points, at the time of writing.

The BSE Mid Cap index ended up by 0.6%. The BSE Small Cap index ended down by 0.2%.

Sectoral indices ended on a positive note with stocks in the banking sector and finance sector witnessing buying interest.

Asian stock markets ended on a mixed note today. As of the most recent closing prices, the Hang Seng was up 0.6% and the Shanghai Composite stood higher by 1.6%. The Nikkei ended down by 1.4%.

US stocks scaled new peaks for a third straight day on Thursday and bond yields surged on the Federal Reserve's average-inflation strategy, as well as a promising development in curbing the coronavirus pandemic.

Watch Now: 3 Little-known Stocks We are Super Bullish On

Fed Chairman Jerome Powell laid out a policy that aims for 2% inflation on average so that too low a pace would be followed by an effort to lift inflation "moderately above 2% for some time."

The rupee is trading at 73.39 against the US$.

Gold prices are trading up by 0.8% at Rs 51,319.

Speaking of the current stock market scenario, in his latest video, Rahul Shah discusses a unique strategy that could force you to re-think the way you invest in stocks.

Tune in to find out more:

In news from the mining sector, shares of NMDC, India's largest iron ore miner, rallied over 10% today, a day after the company reported its earnings for the quarter ended June 2020 (Q1FY21).

NMDC's net profit for the quarter under review slumped 55% to Rs 5.3 billion as both production and sales were impacted due to the Covid-19-induced lockdown, the state-owned miner said on Thursday.

The company had posted net profit of Rs 11.8 billion in the corresponding quarter in 2019-20.

NMDC's turnover during the first quarter was Rs 19.4 billion compared to Rs 32.6 billion during the corresponding quarter last fiscal.



Earlier this month, the company hiked rates of iron ore by Rs 300 to Rs 2,950 a tonne. Iron ore is the key raw material used in steel making. Any change in its prices has a direct impact on the rates of steel.

NMDC's Q1 results were hit hard by covid-19 lockdown, but the firm's plans to demerge its upcoming steel unit in Chhattisgarh surprised the Street.

Reports state that demerger of the steel plant would reduce the stress on its parent company's balance sheet. The three-million-tonne steel plant coming up in Nagarnar, Chhattisgarh, has been delayed, and could be commissioned next year.

NMDC share price ended the day up by 11.8%.

Moving on to news from the automobile sector, Maruti Suzuki was among the top buzzing stocks today.

Country's largest carmaker today announced the launch of its subscription programme to offer easy and flexible car ownership options to individuals.

Maruti Suzuki has tied up with Myles Automotive Technologies to launch Maruti Suzuki Subscribe as a pilot project in select Indian cities - Hyderabad and Pune.

Subscribe programme offers solutions for consumers who are seeking to experience the benefits of owning a car without purchasing it.

In other news, as per a leading financial daily, Thailand's Royal Thai Army is in the process of placing an order for 600 military trucks with Tata Motors.

The company's Chairman N Chandrasekaran said on August 25 that the company aimed to reduce its total debt to near-zero levels in three years and generate free cash flows from FY22 onwards.

Chandrasekaran, while addressing shareholders at Tata Motors' 75th annual general meeting, said the company would also look to unlock non-core investments in order to deleverage the business.

Tata Motors share price ended the day down by 1.3%.

Speaking of the automobile sector, note that the sector has rebounded sharply from its March lows.

Have a look at the chart below:

Healthcare sector is at the top, followed by the automobile sector.

As per Apurva Sheth, the auto index entered the greed phase in September 2019 and will stay there until December 2021. This means there is still a lot of fuel left for auto stocks.

How automobile stocks perform in the coming months remains to be seen. Stay tuned for more updates from this space.

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


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Sensex Ends 354 Points Higher; Banking and Finance Stocks Rally". 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 03:36 PM

MARKET STATS