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?  

Sensex reclaims 17k
Wed, 7 Sep Closing

Profit booking towards the fag end led indices in the Indian stock market to shed some gains. However, they still managed to close the day in the positive territory and the BSE-Sensex was able to stay above the psychologically crucial mark of 17,000. It finally closed higher by around 200 points (up 1.1%) while the gains on NSE-Nifty stood at around 60 points. The BSE Mid Cap and BSE Small Cap indices also performed well, edging higher by more than 1% each. On the Sensex, around 4 stocks closed in the positive for every one that closed in the red.

Almost all the major Asian indices closed the day in the green while Europe is also trading in the positive territory currently. The rupee was trading at Rs 46.1 to the dollar at the time of writing.

It can be recalled that the markets staged a late recovery yesterday after opening the day on a negative note. However, there were no such worries today as the market looked in prime form right from the beginning and kept on gaining strength with each passing hour. Although the last hour and a half did see the indices coming off the day's highs, they nevertheless closed comfortably in the positive. Today's gains seemed to have come on the back of bargain hunting in Asian stocks as a steep sell off in recent times made most of the regional counters appear attractive again.

As per reports, Oil and Natural Gas Corporation Ltd. (ONGC) , the state owned oil exploration and production major has finally started pumping oil from a deep sea field in the prolific KG Basin. With this development, the company marks its entry in the promising high tech area, boosting its prospects to find more oil. It should be noted that although the KG Basin is rich in hydrocarbons, the region is not without its fair share of technological challenges and extreme conditions. ONGC is currently producing around 2,000 barrels of oil per day. The concerned blocks hold around 21 m tonne of oil reserves and oil equivalent gas. The project is five years behind schedule and ran into problems on account of an Australia contractor quitting midway due to bankruptcy. The stock of ONGC closed marginally higher today.

State Bank Of India (SBI), India's largest bank, also witnessed significant buying activity today and closed nearly 3% higher. As per reports, the bank has introduced a state of the art technology platform for financing its supply chain partners by using its internet banking platform. The advantage of this platform is that a corporate can upload the details of invoices raised by their suppliers and the details of invoices covering the supplies made to the dealers on SBI's internet banking platform. This would result into real time transfer and automated settlement of funds. Currently, 43 major corporates across a wide variety of industries are using this platform. It should be noted that the platform provides for both vendor as well as dealer financing.

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 reclaims 17k". Click here!


Stock Market Updates

TORRENT POWER Share Price Up by 5%; BSE POWER Index Up 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BALRAMPUR CHINI Share Price Up by 10%; BSE 500 Index Down 0.3% (Today's Market)

Mar 4, 2021 03:00 PM

BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .

INDIAN ENERGY EXCHANGE Share Price Up by 7%; BSE POWER Index Up 0.9% (Today's Market)

Mar 4, 2021 02:48 PM

INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).

ITD CEMENTATION INDIA Share Price Up by 8%; BSE REALTY Index Up 0.3% (Today's Market)

Mar 4, 2021 02:36 PM

ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).

Sensex Trades Over 300 Points Lower; Dow Futures Down by 101 Points (Today's Market)

Mar 4, 2021 12:30 pm

BSE Sensex is trading down by 385 points, while the NSE Nifty is trading down by 103 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 4, 2021 (Close)