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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Sensex loses 2.3% during the week 
(Fri, 31 Aug Closing) 
 
Although their smaller counterparts bucked the trend, the key indices in Indian equity markets failed to make a recovery after the muted start today. Stocks from engineering, energy and auto sectors dragged the indices deeper into the red in the final trading hours. While the BSE-Sensex today closed lower by 161 points, the NSE-Nifty shedded 57 points. Both the BSE Mid Cap and the BSE Small Cap indices closed marginally higher.

As regards global markets, Asian indices closed mixed today while European indices have opened higher. The rupee was trading at Rs 55.62 to the dollar at the time of writing.

Engineering behemoth Bharat Heavy Electricals Ltd. (BHEL), has proposed setting up another manufacturing unit at Sakoli in Maharashtra in order to meet the requirements of fabricated assemblies of boilers, turbines etc., for power plants. The company would be requiring about 500 acres of land for this proposed plant and the first phase of investment for the project is estimated at Rs 5.2 bn. Besides, the process of land acquisition has already begun and the production from the unit would commence in 24 months from the date of land acquisition. This plant would provide employment opportunity to around 700 persons upon being operational. The company has various manufacturing facilities spread across the country, including Haridwar, Ranipet, Bhopal, Bangalore, Hyderabad, Trichy etc. However, as per a business daily, the government's disinvestment plans in the PSU have been put on hold for the time being. The stock (down 3%) featured amongst the top losers on the Sensex today.

Banking stocks (particularly PSUs) had a lackluster outing today with investor confidence being shaken by successive reports of bad asset quality piling up in the sector. As per credit rating agency Crisil, corporate debt restructuring is likely to surge to Rs 3,250 bn in financial year 2012-13 (FY13), an estimated rise of 49% over the previous year. While restructured debt accounted for about 4.7% of total advances in FY12, the same is expected to increase to 5.7% in FY13. The main reason for this is the increasing financial stress on account of the prevailing slowdown in the economy. State utility boards, construction and infrastructure companies will account for a significant chunk of the restructured loans.

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S&P BSE SENSEX


Jul 28, 2017 (Close)

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