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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets will remain closed on 1st May, 2017 on account of Maharashtra Day.

Markets Finish Weak
Tue, 20 Sep Closing

Indian equity markets continued to remain under pressure in the afternoon session. At the closing bell, the BSE Sensex stood lower by 111 points, while the NSE Nifty finished down by 32 points. The S&P BSE Mid Cap finished down by 0.1%, while the S&P BSE Small Cap finished down by 0.3%. Losses were largely seen in realty and auto stocks.

Asian markets finished higher today with shares in Hong Kong leading the region. The Hang Seng is up 0.84%, while China's Shanghai Composite is up 0.67% and Japan's Nikkei 225 is up 0.53%. European markets are trading mixed today. The FTSE 100 is up 2%, while the CAC 40 is trading higher by 0.65%. The DAX is off 0.04%.

The rupee was trading at 67.02 against the US$ in the afternoon session. Oil prices were trading at US$ 43.62 at the time of writing.

According to an article in The Economic Times, India will clock a "steroid-free" growth of 8% over the next few years, backed by broadening of domestic consumption base. According to a report by Standard & Poor's (S&P) Global Ratings, titled 'APAC Economic Snapshots-September 2016', India's structural reform agenda has maintained strong momentum and should propel growth higher.

The Goods and Services Tax (GST) passage is a big positive in this regard. It also said that inflation remains a risk, given the large weights on food, fuel, and other volatile items in the Reserve Bank of India's (RBI) target basket.

The latest gross domestic production (GDP) data showed that India's growth slowed to 7.1% in the April-June quarter, from 7.9% in January-March period. Besides, RBI too has said that the near-term growth outlook for India seems brighter than last fiscal and the economy is likely to expand at 7.6% in 2016-17.

Moving on to news from the power sector. According to a leading financial daily, NTPC has inked a Memorandum of Understanding (MoU) with Energy Efficiency Services (EESL) for implementation of energy efficient (Subscription Required) LED lighting solutions for all NTPC's projects, stations and offices across the country.

The objective of the MoU is to enable EESL to provide end to end, state of the art energy efficient LED lighting and solutions in accordance with the requirement of NTPC.

EESL is a joint venture company of PSUs of Power Ministry. The company has been designated as the implementing agency for both the programs - Domestic Efficient Lighting Programme (DELP) and Street Lights.

In another development, NTPC has requested the government to allow surplus coal at its Badarpur thermal power plant in Delhi to be utilized for a power unit in Madhya Pradesh. The Ministry of Power in May allowed flexibility in utilization of domestic coal for reducing the cost of power generation.

Power Minister Piyush Goyal had earlier stated that the relaxed norms for utilization of domestic coal could result in bringing down the cost of power generation by 40 to 50 paise per unit. In the next four to five years, it could lead to savings of Rs 250-300 billion per year. NTPC finished the day down by 1.3% on the BSE.

Meanwhile, power stocks finished on a weak note with NHPC Ltd and RattanIndia Power ltd leading the losses.

Moving on to the news from the IPO space in the domestic market. The mega IPO of ICICI Prudential Life Insurance (Subscription Required) witnessed tepid response on the first day of the issue. This was seen as the IPO saw only 15.73% of the issue size of 13.23 crore shares getting subscribed till the end of Monday.

Apart from the above, many more companies are considering going public. So expect more action in the IPO markets going ahead. How can one decide which company is the right one when it comes to investing in IPOs? We have prepared a special handbook for IPO Investing. Click here to know more on how you could access it.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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S&P BSE POWER


Apr 28, 2017 (Close)

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