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?  

Indian markets hit another record
Mon, 8 Sep Closing

Extending the strong rally in the afternoon trade, the Indian benchmark indices hit another record high and closed today on a strong note. The NSE-Nifty surpassed the 8150 mark and was seen up by 87 points. The BSE-Sensex closed higher by 293 points. Both the BSE Mid Cap and the BSE Small Cap indices gathered steam and were up by 1.2% and 2.0% respectively. Robust buying interest was witnessed into sectors such as oil and gas, capital goods, healthcare and banking stocks. However, the realty sector witnessed some selling pressure.

On the global front, the Asian indices closed the day on a firm note. The European indices too have opened on a buoyant note. The rupee was trading at Rs 60.25 to the dollar at the time of writing.

Stocks from auto ancillaries space have closed today on a mixed note. While Ucal Fuel and Munjal Showa led the pack of gainers, Mahindra CIE Automotive and Amtek Auto led the pack of losers.

Auto components firm, Bharat Forge has sold 50% stake in its joint venture Impact Automotive Solutions Ltd for Rs 108 m. This JV was formed in 2010 with KPIT Technologies to manufacture hybrid solutions for automobiles. The JV terms state that KPIT licensed the technology to the JV. Bharat Forge had at that time brought in manufacturing know-how, assembly capabilities and integration expertise.

Bharat Forge is beginning to see signs of growth. The company is confident of traction in terms of order wins from both global and domestic OEMs in this space. Growth going forward will also be driven by the industrial segment as demand improves and also from exports.

Engineering stocks today closed on a mixed note. While Opto Circuits and Punj Lloyd topped the pack of gainers, Sanghvi Movers and Welspun Corp led the pack of laggards.

A leading financial daily states that L&T has bagged orders worth Rs 19.2 bn in its hydrocarbon business in the offshore and onshore segments. The company has secured an offshore contract worth Rs 13.4 bn from Oil and Natural Gas Corporation (ONGC). The scope of the contract includes engineering, procurement, construction and installation of five wellhead platforms at the Mumbai High North field of ONGC. Moreover, in the onshore segment, L&T Hydrocarbon Engineering (LTHE) has secured a contract of Rs 5.8 bn from a leading company engaged in hydrocarbon downstream processing.

The company's Hydrocarbon business has been a source of big disappointment in the past. The company has seen an unprecedented loss of Rs 9.4 bn at the EBIT level in this segment during the 1QFY15 quarter. There have been 5-6 international hydrocarbon projects that are seeing such losses due to execution related issues. The management has indicated that it has already tried to provide for all foreseeable losses on this front and they should likely finish execution by the end of FY15, but there is still uncertainty on this front.

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 "Indian markets hit another record". Click here!

  

Views on News

SUPRAJIT ENGINEERING Announces Quarterly Results (3QFY21); Net Profit Up 65.6% (Quarterly Result Update)

Feb 11, 2021 | Updated on Feb 11, 2021

For the quarter ended December 2020, SUPRAJIT ENGINEERING has posted a net profit of Rs 516 m (up 65.6% YoY). Sales on the other hand came in at Rs 5 bn (up 23.0% YoY). Read on for a complete analysis of SUPRAJIT ENGINEERING's quarterly results.

WABCO INDIA Announces Quarterly Results (3QFY21); Net Profit Up 35.5% (Quarterly Result Update)

Feb 11, 2021 | Updated on Feb 11, 2021

For the quarter ended December 2020, WABCO INDIA has posted a net profit of Rs 524 m (up 35.5% YoY). Sales on the other hand came in at Rs 6 bn (up 28.5% YoY). Read on for a complete analysis of WABCO INDIA's quarterly results.

SCHAEFFLER INDIA 2018-19 Annual Report Analysis (Annual Result Update)

Nov 20, 2020 | Updated on Nov 20, 2020

Here's an analysis of the annual report of SCHAEFFLER INDIA for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of SCHAEFFLER INDIA . Also includes updates on the valuation of SCHAEFFLER INDIA .

EXIDE INDUSTRIES 2019-20 Annual Report Analysis (Annual Result Update)

Nov 6, 2020 | Updated on Nov 6, 2020

Here's an analysis of the annual report of EXIDE INDUSTRIES for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of EXIDE INDUSTRIES. Also includes updates on the valuation of EXIDE INDUSTRIES.

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.

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

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

MARKET STATS