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?  

Mid, smallcaps buck the trend
Wed, 16 Sep Closing

After starting the day on a positive note, Indian stocks gained momentum post noon as buying activity intensified till the end amid a firm trend overseas. The BSE-Sensex ended the day higher by about 258 points, while the NSE-Nifty ended higher by about 70 points. Stocks from the banking and power spaces were amongst the top performers today, while those from the consumer durables and oil & gas sectors were amongst the top underperformers. Mid and smallcaps however seemed to be out of favor with the BSE Mid Cap and BSE Small Cap indices ending the day lower by about 0.2% and 0.5% respectively.

Asian markets finished broadly higher today with shares in China leading gains in the region. The Shanghai Composite was up 4.89% while Hong Kong's Hang Seng was up 2.38%. Japan's Nikkei 225 was up 0.81%. European markets are higher today with shares in France leading the region. The rupee was trading weak at 66.44 in the afternoon trade.

Engineering sector ended the trading day on a mixed note with Manugraph India and Welspun Corporation leading the pack of losers. According to a leading financial daily, ABB India ltd has bagged orders worth around Rs 1.2 bn ($18 million) to provide plant electrification, automation and substation solutions for solar power plants being built as part of India's strong push for solar energy and renewables. These projects will connect more than 850 megawatts (MW) of solar energy to the grid and will be among the biggest solar projects worldwide. The most significant of these projects, placed by the Adani Group, is the 648 MW solar plant in Kamuthi, Tamil Nadu. The company will provide a turnkey solution encompassing the design, supply, installation and commissioning of the power plant electrification and automation systems, the pooling stations and multiple substations. This includes two 230 kilovolt (kV) and three 110 kV substations to connect the electricity generated to the local grid.

According to a leading financial daily, Indian Oil Corporation (IOC) is planning to invest about Rs 1,750 bn by 2022 In a bid to expand its various businesses. The investments will help the company to expand capacity from 65 million tonnes to 100 million tonnes. From the total, the company would be investing Rs 150 bn in pipeline projects, while Rs 350 bn would be required for product marketing. The petrochemical and oil exploration business will require another Rs 650 bn, while the gas business will require an infusion of Rs 70 bn. Along with refinery expansions the quality of fuel would also be upgraded, and by 2022, the company wants to produce fuels, which are compliant with BS-6 norms.

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 "Mid, smallcaps buck the trend". Click here!

  

Views on News

Charge Your Portfolio with this Smallcap Proxy Play on India's EV Revolution (Profit Hunter)

Mar 5, 2021

This could be the biggest wealth creator of the decade.

Inflation & Your Investments (Fast Profits Daily)

Mar 4, 2021

Inflation is the buzz word in the world of finance these days. It impacts all of us. Here's how it affects your investments.

What India's Positive GDP Reading Means for Your Equity Mutual Fund Investments (Outside View)

Mar 4, 2021

Given the risks involved, we may witness a sort of 'W-shaped' recovery wherein we would dip again before moving up, explains Rounaq Neroy in this edition of the Daily Wealth Letter.

I'm Back to Where It All Started (Profit Hunter)

Mar 4, 2021

Join us in welcoming research analyst, Aditya Vora, to Equitymaster.

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.

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.

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...

How Much Money For Day Trading? (Fast Profits Daily)

Feb 22, 2021

In this video, I'll show you how to allocate your capital as a day trader.

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 5, 2021 10:00 AM

MARKET STATS