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?  

Sensex Slumps 700 Points from Day's High to End Lower; Tata Steel & SBI Among Top Losers
Fri, 17 Sep Closing

Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices tumbled from record high levels to snap their three-day winning run amid losses in energy, auto, and pharma stocks, despite firm global cues.

At the closing bell, the BSE Sensex stood lower by 125 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 44 points (down 0.3%).

Kotak Mahindra Bank and HDFC Bank were among the top gainers today.

Tata Steel and Coal India, on the other hand, were among the top losers today.

The SGX Nifty was trading at 17,592, down by 19 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended down by 1.1% and 1%, respectively.

--- Advertisement ---
Automobile Sector's Colossal Disruption Could Make You a Fortune

During any major disruption in a sector, fortunes are created.

And now, we are at the cusp of a major disruption that the automotive sector will experience.

It is the electric vehicles gold rush.

At Equitymaster, we have unearthed a hidden way to ride the 15x EV opportunity so that you could take home potentially life-changing gains in the long run.

You can get all details of the hidden way in our upcoming special online event.

YES, Register Me for FREE
------------------------------

Sectoral indices ended on a negative note with stocks in the metal sector, realty sector and energy sector witnessing most of the selling pressure.

Banking and telecom stocks, on the other hand, witnessed buying interest.

Shares of Tata Elxsi and Polycab India hit their respective 52-week highs today.

Asian stock markets ended on a positive note today.

The Hang Seng and the Shanghai Composite ended the day up by 1% and 0.2%, respectively. The Nikkei ended up by 0.6% in today's session.

US stock futures are trading on a negative note today with the Dow Futures trading down by 56 points.

The rupee is trading at 73.48 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.3% at Rs 46,208 per 10 grams.

Speaking of the stock market, India's #1 trader, Vijay Bhambwani talks about a critical aspect of trading, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the finance sector, IDFC was among the top buzzing stocks today.

IDFC said that its board and the board of IDFC Financial Holding Company (IDFC FHCL) have approved to initiate steps to divest its mutual fund business.

--- Advertisement ---
The Rebirth of India

India's leading research analyst, Tanushree Banerjee, will show our readers how an upcoming mega shift would drastically change the state of the Indian economy...

And how investing in three high-potential stocks at the heart of this rebirth...

...could potentially hand them 100%, 300%, 500%, even 1,000% or more in the long run.

Since you are one of our valued readers, we sincerely urge you to head over here for more details
------------------------------

IDFC AMC's average assets under management (AAUM) for the June quarter was at Rs 1.3 tn, as per AMFI data.

In a statement, the company said,

  • The boards have authorized respective strategy and investment committees to take necessary steps, including appointment of investment banker, for the same.

The company is losing investor confidence over delay in value unlocking

At a pre-annual general meeting conference call held on 14 September 2021, investors expressed disappointment with the slow pace of progress of the disinvestment.

The announcement was made during market hours today, 17 September 2021.

IDFC share price ended the day down by 1.7% on the BSE.

Moving on to news from the automobile sector...

TVS Motors Acquires Majority Stake in Swiss Company EGO Movement

TVS Motor, a global manufacturer of two-wheeler and three-wheeler vehicles, announced a partnership with European e-bike, EGO Movement as a majority shareholder, in an all-cash deal through its Singapore subsidiary TVS Motor (Singapore).

Join Today: Equitymaster is on Telegram. Join FREE Today for Exclusive market Updates

TVS picked up 80% stake in EGO for US$17.9 m, according to a report in The Economic Times.

Joint Managing Director Sudarshan Venu affirmed that the deal is progress towards delivering unique e-mobility solutions

He further added,

  • We are building a strategic personal e-mobility ecosystem by scaling unique brands which share our vision of delivering compelling customer experience benchmarks through cutting-edge, aspirational products.

    EGO Movement has a strong presence in Europe with customer-centric products, a unique omnichannel network and a visionary team at its helm. Together, we will address global urbanisation by delivering unique e-mobility solutions with e-bicycles and mobility across a diversity of forms.

Led by the co-founders Daniel Meyer and Marie So, EGO Movement is a Swiss technology company providing a wide range of mobility solutions through a portfolio of e-bikes, e-cargo bikes, and e-scooters. It is a profitable company with sales of about 3500 units in 2020 generating revenues of US$6 m.

This acquisition will further expand the presence of TVS Motor in Europe, post the Norton Motorcycles buy last year.

TVS Motors share price ended the day up by 0.4% on the BSE.

Speaking of stocks, here's a pattern that if you see, you must sell your position. After all, exits are more important than entries.

In the chart below, we can see the head and shoulder pattern - the stock goes up, makes a high, falls a little bit, goes up to a higher high, does not make a higher low, rallies again, fails to make a new high, and then starts to break down.

This usually happens in a situation where a stock or index has typically been in a bull trend for a while. Spotting this correctly can help you save money.

If you're interested in trading and want to know how you can use this pattern, you can read about it in one of the editions of Profit Hunter here: It's When You Sell that Counts

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 Slumps 700 Points from Day's High to End Lower; Tata Steel & SBI Among Top Losers". Click here!

  

Stock Market Updates

Sensex Crosses 61,000, Dow Futures Up by 166 Points (Today's Market)

Oct 14, 2021 12:30 pm

BSE Sensex is trading up by 394 points, while the NSE Nifty is up by 132 points.

Sensex Opens Higher; Wipro, Mindtree and Infosys Rally Post Q2 Results (Today's Market)

Oct 14, 2021 09:30 am

Indian share markets open strong. The BSE Sensex opened up by 371 points, while the Nifty is trading higher by 121 points.

SGX Nifty Up 77 Points, India's Retail Inflation, Infosys Quarterly Performance, and Buzzing Stocks Today (Today's Market)

Oct 14, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Is it Time to Switch from Tata Power to NTPC?(Profit Hunter)

Oct 11, 2021

Given the huge run up in Tata Power, does it make sense to switch to NTPC?

This Proxy EV Stock Just got a Power Crisis Boost(Profit Hunter)

Oct 8, 2021

After months of research, I've come across few stocks that excite me far more than the mainstream electric vehicle companies.

Rs 1 Lakh Invested in These Cryptos at the Start of 2021 Became Rs...(Views On News)

Oct 8, 2021

These cryptos would have multiplied investors' wealth by as much as 10,000% in just nine months.

Top 5 'Digital India' Stocks(Views On News)

Oct 6, 2021

These companies are leading the Government's US$1 tn 'Digital India' initiative.

5 Exciting 'Unlisted' Companies and How to Play Them(Views On News)

Oct 7, 2021

Here's how you can invest in some of the most exciting start-ups of the decade.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Oct 14, 2021 (Close)

MARKET STATS