X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Sensex Trades on a Weak Note; Pharma Stocks Lead Losses
Wed, 6 Sep 01:30 pm

After opening the day lower, share markets in India traded weak throughout the day and are currently trading in the red. Sectoral indices are trading on a mixed note with stocks in the consumer durables sector and stocks in the metal sector trading in green, while stocks in the FMCG sector and stocks in the pharma sector are leading the losses.

The BSE Sensex is trading down by 107 points (down 0.3%), and the NSE Nifty is trading lower by 30 points (down 0.3%). Meanwhile, the BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.5%. The rupee is trading at 64.15 to the US$.

In news from the banking & finance sector, HDFC is in focus today. The mortgage lender plans to raise Rs 20 billion by issuing bonds on a private placement basis in a bond issue that opens today.

The issue opens today and will close the same day. HDFC said that it will specifically address the persons who are eligible for the debenture issue and no other person can apply for it.

HDFC plans to use the proceeds of the issue to augment the long-term resources of the corporation. The proceeds of the present issue would be utilised for financing and refinancing the housing finance business requirements of the corporation.

With the current development, HDFC is set to join the ever-growing list of Indian companies opting to raise funds via bond issues.

Increasing Bond Issues by Indian Companies

Indian companies raised a record US$ 46.5 in debt and equity in 2017, the highest amount in the last decade. 64% of these funds are from the financial sector. What is interesting is that the energy and power sector was the second highest in raising funds. Also, amongst the financial sector companies, Power finance corp. Ltd (PFC) which raised US$ 3.5 billion was one of the largest fundraisers.

At the time of writing, HDFC share price was trading up by 0.1%.

Moving on to news from the IPO space, according to a leading financial daily, L&T plans to set up an InvIT (infrastructure investments trust) through its infrastructure arm - L&T IDPL.

The engineering conglomerate said that an application for registration of the InvIT as an infrastructure investment trust was filed by L&T IDPL with the stock market regulator.

InvITs are debt instruments that facilitate capital into the infrastructure sector by pooling small sums of money from investors to help infrastructure developers to monetise infrastructure assets.

The listing of instruments enables promoters of infrastructure to monetise completed assets and raise funds for other long-term projects.

In related news, two IPOs viz. Dixon Technologies and Bharat Road Network are headed to the market with their initial share sale offers today. The initial public offerings of both these companies will be open for subscription during 6th-8th September.

Dixon Technologies, a consumer electronics manufacturer, has fixed a price band of Rs 1,760-1,766 per share for its IPO, through which it aims to raise about Rs 6 billion. Meanwhile, Bharat Road Network, a Srei Infrastructure Finance initiative, has fixed price band of Rs 195-205 per share for its IPO and also aims to raise Rs 6 billion.

We have analysed and reviewed both of them and have released their recommendation notes. You can check the same on their IPO page.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

With multiple offerings lined up, it becomes difficult to evaluate and pick out the best opportunity, if any exists. Not all IPOs will have fortunes like the D-Mart IPO, as the IPO game is inherently rigged against the retail investor.

We don't need to back all the IPOs to get rich. But a few good IPOs could certainly become the multibagger in your portfolio in a few years.

We have come out with a special report titled, How to Get Rich with IPOs. It is a comprehensive report that aims to cut through all the hoopla surrounding IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

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


Please Note: The stock price of Yes Bank on NSE-50 is not adjusted for face value split. Kindly refer to its BSE's quote today for the adjusted price.

Equitymaster requests your view! Post a comment on "Sensex Trades on a Weak Note; Pharma Stocks Lead Losses". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 21, 2017 (Close)

MARKET STATS