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 stocks push markets lower
Tue, 31 Aug 09:30 am

The Indian markets have started today's session on a negative note. The benchmark indices opened below the breakeven mark and have fallen further into the negative territory. Other key Asian markets are in the red with Japan (down 2.6%) leading the pack of losers. The US markets closed lower by 1.4% yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading weak with realty and energy majors facing the brunt of selling activity. The BSE-Sensex is trading lower by around 73 points, while the NSE-Nifty is down by about 20 points. Selling interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading lower by 0.3% and 0.2% respectively. The rupee is trading at 46.97 to the US dollar.

Hotel stocks have opened the day on a positive note. Gainers here include EIH and Oriental Hotels. As per a leading business daily, Reliance Industries (RIL) has picked up 14.2 % stake in East India Hotels (EIH). The investment was made through wholly-owned subsidiary Reliance Investments & Holding Pvt. Ltd. The stake was bought from the promoter of EIH, Mr. P R S Oberoi and two other promoter entities, Oberoi Hotels Pvt. Ltd. and Aravali Polymers LLP. As a result, the promoter’s stake in EIH is down to 32.41%. RIL has clarified that this is purely a financial investment and will not impact the day-to-day running of the hotels. Interestingly, ITC also holds a strategic 14.9 % in EIH. This has reportedly been a cause of discomfort for the EIH management. Although, ITC has clarified that it does not plan to launch a hostile bid on EIH, RIL’s role will now be that of the white knight in ward off such attempts. This also further consolidates the RIL group's play in the India consumption story. It had recently acquired a stake in Captain Gopinath's Deccan 360 cargo venture and reentered telecom by buying out Infotel Broadband.

Software stocks have opened the day on a weak note. Losers here include TCS and NIIT. As per a leading business daily, Infosys is planning an ‘extreme offshoring’ model to help reduce its dependence on H1 and L1 visas. In FY10, the company’s offshore revenues were about 53% of the total pie. The company believes it is capable of increasing its offshore utilisation capabilities to 95%. This move comes against the backdrop of a clampdown on visas by the US and growing resentment towards foreign workers and immigrants. The company wants to be prepared to face an extreme situation should the negative sentiment intensify further. If implemented, this model will have a huge impact as it will lead to increased hiring at offshore locations like India and fewer jobs being created onsite.

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 stocks push markets lower". 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)