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?  

Midcaps favoured today
Thu, 4 Sep Closing

The Indian stock markets picked up some steam during the final hour of trade. But the same was not enough to push the benchmark index above the dotted line. The BSE-Sensex ended the day with losses of about 54 points or 0.2%, while the NSE-Nifty ended lower by about 0.2% or 18 points. Stocks from the realty and metals spaces were not in demand today, while those from the FMCG and pharmaceuticals spaces were the top performers. Moving on to mid and smallcaps, the former outperformed other indices as the BSE Mid Cap closed higher by about 0.1%. The BSE Small Cap index closed lower by 0.4%.

Stock markets in other parts of Asia closed on a mixed note today with Japan and Hong Kong closing lower by about 0.3% and 0.1% respectively, while China ended higher by 0.8%. European stocks were trading weak at the time of writing. The rupee was trading at Rs 60.45 to the dollar at the time of writing.

Auto stocks ended the day on a mixed note with Tata Motors and Ashok Leyland leading the pack of losers, while Bajaj Auto and Hero Motocorp led the pack of gainers. Auto sales volumes continued to remain strong for the fourth month in August 2014. Maruti Suzuki reported a 27% YoY rise in volumes, while Hyundai and Honda reported a 19% YoY and 88% YoY increase in volumes. Key reasons for this spurt have been the change of sentiments post the elections coupled with the fact that volumes were subdued for a long time, leading to pent up demand. However, it seems that this trend is not seen across the board as only certain car makers have reported strong numbers. For instance, as reported by a leading business daily, Ford India's domestic sales fell by 15% in August while GM's volumes fell by 37%. Making the most of this uptick in sentiments, it seems auto companies have lined up a number of new launches - especially in the low cost segment. In fact it is the entry level car segment that is expected to drive growth over the longer periods as the aim is to increase demand from two-wheelers users. As per industry figures, the car penetration levels in India are 15 for every thousand people as compared to 60 in China and 200 in Brazil; thereby giving a strong indication of favourable long term trends.

Godfrey Philips, TVS Motor and UPL were amongst the top performers from the midcaps space today. As per a leading business daily, on expectations of an economic revival, foreign institutional investors (FIIs) have been favoring investments in midcap stocks of late. Expected reforms that will encourage a revival of the growth of the economy by the new NDA government have been driving this trend. As per reports, FII ownership for mid caps is at an all time high of 15% currently. This moved up higher by 50 basis points during the June 2014 quarter. FIIs now own US$ 36 bn in stocks that constitute the BSE Mid Cap Index.

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 "Midcaps favoured today". Click here!

  

Views on News

BSE Sensex Surges 1,060 Points; TATA STEEL Among Top Gainers (Market Updates)

Mar 3, 2021 | Updated on Mar 3, 2021

The BSE Sensex Surged 1,060 Points; TATA STEEL Among Top Gainers. Find the latest update, special reports and news on all time high gainers of BSE Sensex at equitymaster.com.

Dollar at 80? (Fast Profits Daily)

Mar 3, 2021

Can the rupee depreciate to 80 against the US dollar? In this video, I'll show you what the charts say.

Motilal Oswal Asset Allocation Passive Fund of Fund: Aims to Benefit from Investing in Multi-Asset Passive Funds (Outside View)

Mar 3, 2021

PersonalFN analyses the features of Motilal Oswal Asset Allocation Passive Fund of Fund and explains the potential this fund has to offer to its investors.

Smallcap Investing in the New Normal World (Profit Hunter)

Mar 3, 2021

Here's why I think there is more steam left in smallcaps.

Why Rising Bond Yields Spooked the Market (Fast Profits Daily)

Mar 2, 2021

The stock market has been worried about rising bond yields recently and for good reason. In this video, I'll tell you why.

More Views on 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...

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


Mar 3, 2021 (Close)

MARKET STATS