Sensex Trades Marginally Higher; Tata Steel & Bajaj Finance Top Gainers

Wed, 18 Sep 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

Share markets in India are presently trading on a positive note, tracking gains in global peers. US President Donald Trump said he did not want war and Saudi Arabia said it would restore its lost crude oil output by the end of September.

Market participants are awaiting the outcome of the US Federal Reserve's policy meeting due later today.

Sectoral indices are trading mixed with stocks in the telecom sector and FMCG sector witnessing selling pressure, while metal stocks and realty stocks are witnessing buying interest.

The BSE Sensex is trading up by 47 points while the NSE Nifty is trading up by 14 points. The BSE Mid Cap index is trading up by 0.5%, while the BSE Small Cap index is trading up by 0.3%.

The rupee is currently trading at 71.31 against the US$.

Speaking of stock markets in general, the market is typically focused on the most recent star performers.

You will often find the likes of HUL or HDFC Bank being the market darlings for never having a disappointing quarter.

But it is rare to find companies that thrive through most of their survival period.

Tanushree Banerjee shares few of her thoughts on this. Here's an excerpt of what she wrote in a recent edition of The 5 Minute WrapUp...

• It is rare to find companies that survive for decades. It's even rarer to find ones that thrive through most of their survival period.
  
  So, if you do not wish to pay steep valuations for the market darlings, you need to look for the companies with history and consistency on their side.
  
  And they shouldn't be too conspicuous to the market either.
  
  I am talking of companies like Hawkins and City Union Bank. They have a track record of paying dividends for decades.
  
  The dividends such companies pay are especially helpful at a time when globally interest rates are headed lower.

And, as seen in the chart below, 'risk-free returns' from debt seem to have gone missing.

Inflation Adjusted Risk Free Returns Are Negligible Globally

So, should you ignore the big bluechips while chasing dividend stocks?

As per Tanushree, big money is made over the long term, not by making more in the good years but by losing less in the bad years.

In news from the finance sector, a resolution plan to rescue debt-laden Dewan Housing Finance Corporation (DHFL) has hit a major roadblock as only a small segment of bondholders have agreed to be on board.

According to a custodian of DHFL bonds, the process has been further complicated as certain bondholders have initiated a process to take DHFL to bankruptcy court.

As per reports, out of the 87,000 debenture holders who had been asked to be party to the resolution plan being deliberated upon by banks, only 24,400 debenture holders had responded before the due date earlier this month.

The banks have signed an inter-creditor agreement (ICA) to come up with a plan to restructure nearly US$ 14 billion of DHFL's debt. They had been trying to get bondholders on board as well for the plan to succeed.

As per the new central bank rules for resolving bad debts, it is mandatory for 75% of lenders by value and 60% by number to sign the ICA to execute a revival plan which in DHFL's case can be achieved only with the support of bondholders.

Banks will need support from insurance companies, pension funds and other institutional investors to approve the resolution plan. The deadline for this plan ends on 25 September.

Banks have a collective Rs 350 billion exposure to DHFL through loans, and the lenders also hold debentures. Bond holders, which include mutual funds, insurance companies and pension funds, also have a Rs 450 billion exposure.

State Bank of India (SBI), Bank of Baroda and Union Bank of India are the top lenders to the company.

DHFL share price is presently trading down by 2.1%.

Moving on to news from the realty sector, Sunteck Realty share price is in focus today. Stock of the company gained over 3.5% intraday after the company acquired a premium project in Mumbai.

The luxury developer said it acquired a prime project near Mumbai's Lokhandwala, Andheri with the potential for development of approximately 1.1 million square feet in saleable area and a revenue of over Rs 25 billion in the next 4-5 years.

The company said that the project is acquired under the asset light Joint Development Agreement (JDA) model focused on establishing a strategic tie-up with credible partners, which will further strengthen company's cash flow and balance sheet.

To know more about the company, you can read Sunteck Realty's latest result analysis on our website.

Speaking of the realty sector, Research analyst, Sarvajeet Bodas talks about how Modi's push towards affordable housing can revive the real estate sector and accelerate the economic activity:

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers