X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
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?  

Share Markets in India End Flat; Dr Reddy's & Tata Steel Top Gainers
Wed, 20 Sep Closing | Rini Mehta, TM Team

Indian share markets continued to trade range bound in afternoon session with market participants awaiting the US Federal Reserve's policy statement. At the closing bell, the BSE Sensex closed lower by 2 points and the NSE Nifty finished down by 6 points. The S&P BSE Mid Cap and S&P BSE Small Cap both finished down by 0.1%.

Among the sectoral indices, automobile stocks and consumer durables stocks witnessed majority of the selling pressure. Meanwhile, gains were seen in capital goods stocks and healthcare stocks.

Asian stock markets finished higher today with shares in China leading the region. The Shanghai Composite is up 0.27% while Hong Kong's Hang Seng is up 0.27% and Japan's Nikkei 225 is up 0.05%. European markets are mixed. The DAX is higher by 0.06%, while London's FTSE 100 is off 0.05%. Shares in France are unchanged with the CAC 40 at 5,214.

The rupee was trading at Rs 64.36 against the US$ in the afternoon session. Oil prices were trading at US$ 49.48 at the time of writing.

Telecom stocks witnessed selling pressure today after the Telecom Regulatory Authority of India (Trai) more than halved the so-called interconnect usage charge (IUC) to six paise with effect from 1 October, dealing a big blow to older telecom firms. The move comes as a potential boost to newcomer Reliance Jio Infocomm Ltd.

<Tata Steel share price> surged after after Germany's Thyssenkrupp and Tata Steel struck a preliminary deal to merge their European steel operations.

<Bank of Baroda share price> rallied 2.8% after witnessing a block deal in intraday trade. The stock witnessed 51 million shares worth Rs 7.6 billion trade in a block on BSE at Rs 146.40 per share.

Just Released: Multibagger Stocks Guide
(2017 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

Our team of Equitymaster analysts have been working on a project to track the smartest minds in value investing. They have compiled a special report on them, called The Superinvestors of India.

Now, because of insights from these interactions, the team has glued their eyes on insider activity and bulk and block deals...

As per them...

Pharma stocks ended the day on a mixed note with Sun Pharma and Wockhardt leading the losses. Divi's Lab share price zoomed over 9.5% after the company announced that all the previous observations by US drug regulator regarding Unit-2 of its Visakhapatnam facility have been confirmed as completed and resolved. The rally was in addition to 3.6% upside in previous session.

Interestingly, the stock hit nine-month high and was trading at its highest level since 23 December 2016 on BSE. It outperformed the market by surging 47% in past one month, as compared to 4% rise in the S&P BSE Sensex.

The US Food and Drug Administration had inspected company's unit-2 during 11-19 September 2017.

On completion of this inspection, Divi's has received a Form 483 citing six observations which are procedural, but all previous observations have been confirmed as completed and resolved.

This inspection was for full current good manufacturing practice and verification of all corrective actions proposed against the previous Inspection observations.

One shall note that, USFDA alerts on Indian pharma companies have increased over the past few years. Regulators used to visit the plants every two years. Now they come every eight months.

Increasing inspections has led to a total of 41 import alerts in the past eight years. This clearly signifies increased USFDA scrutiny on Indian pharma firms. If that wasn't enough, increasing pricing pressure in the generics segment has dented realizations.

Expediting Drug Approval Process to be a Positive for Industry

In this dull scenario, there appears to be some respite as the USFDA has expedited the drug approval process. Drug approvals for Indian companies have gone up 50% in the period from January to June 2017 compared to the same period last year.

Moving on to the news from oil & gas sector. Shares of the state-run oil marketing companies such as Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation dived up to 2.8% after Moody's Investors Service said that the state-owned fuel retailers have to increase borrowings.

As per the report, IOC, BPCL, and HPCL will have to go in for increased borrowings to sustain high dividend payments and capital spending this fiscal, keeping their credit metrics weak.

It expected dividend payments by the three to decline modestly in 2017-18, but remain higher than in 2015-16.

Further, Moody's expects a combined payout by three companies of Rs 206 billion in dividends, including distribution taxes, lower than Rs 237 billion paid in fiscal 2017 but significantly higher than Rs 85 billion paid in FY16.

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

Equitymaster requests your view! Post a comment on "Share Markets in India End Flat; Dr Reddy's & Tata Steel Top Gainers". Click here!

  

Stock Market Updates

HIND. CONSTRUCTION Plunges by 11%; BSE REALTY Index Down 3.7% (Today's Market)

Sep 21, 2018 02:12 PM

HIND. CONSTRUCTION share price has plunged by 11% and its current market price is Rs 14. The BSE REALTY is down by 3.7%. The top gainers in the BSE REALTY Index are PHOENIX MILL (up 0.4%) and SOBHA LIMITED (up 0.1%). The top losers are HIND. CONSTRUCTION (down 10.8%) and INDIABULLS REAL EST (down 14.8%).

ZENSAR TECHNOLOGIES Plunges by 5%; BSE IT Index Down 1.5% (Today's Market)

Sep 21, 2018 02:06 PM

ZENSAR TECHNOLOGIES share price has plunged by 5% and its current market price is Rs 293. The BSE IT is down by 1.5%. The top gainers in the BSE IT Index are ECLERX SERVICES (up 2.0%) and CYIENT LTD (up 0.8%). The top losers are ZENSAR TECHNOLOGIES (down 5.4%) and SONATA SOFTWARE (down 7.2%).

WOCKHARDT LTD. Plunges by 6%; BSE HEALTHCARE Index Down 1.5% (Today's Market)

Sep 21, 2018 02:06 PM

WOCKHARDT LTD. share price has plunged by 6% and its current market price is Rs 639. The BSE HEALTHCARE is down by 1.5%. The top gainers in the BSE HEALTHCARE Index are BIOCON LTD (up 1.2%) and SANOFI INDIA (up 1.1%). The top losers are WOCKHARDT LTD. (down 6.4%) and SUVEN LIFE (down 5.2%).

SHANKARA BUILDING PRODUCTS LTD Plunges by 7%; BSE REALTY Index Down 3.5% (Today's Market)

Sep 21, 2018 02:06 PM

SHANKARA BUILDING PRODUCTS LTD share price has plunged by 7% and its current market price is Rs 1,293. The BSE REALTY is down by 3.5%. The top gainers in the BSE REALTY Index are SOBHA LIMITED (up 0.5%) and PHOENIX MILL (up 0.4%). The top losers are SHANKARA BUILDING PRODUCTS LTD (down 7.0%) and GODREJ PROPERTIES (down 5.8%).

JM FINANCIAL Plunges by 10%; BSE 500 Index Down 1.2% (Today's Market)

Sep 21, 2018 02:04 PM

JM FINANCIAL share price has plunged by 10% and its current market price is Rs 112. The BSE 500 is down by 1.2%. The top gainers in the BSE 500 Index are OIL INDIA LTD. (up 3.6%) and ENTERTAINMENT NETWORK (up 3.0%). The top losers are JM FINANCIAL (down 10.2%) and DEWAN H.FIN. (down 35.0%).

Indian Indices Trade Strong; Yes Bank Tanks 20% (Today's Market)

Sep 21, 2018 12:30 pm

The BSE Sensex is trading up by 204 points, while the NSE Nifty is trading up by 50 points.

View More Indian Share Market News

Most Popular

Is It the Right Time to Buy Pharma Stocks Now?(The 5 Minute Wrapup)

Sep 12, 2018

Is the pharma sector poised for a comeback? Is the worst over? I believe so.

Want Bigger Returns Than You Thought Possible? This is Where You Should Look(Profit Hunter)

Sep 12, 2018

Richa has discovered the single most profitable opportunity in the market - read on to discover more...

Investors Are Redeeming From Equity Mutual Funds Now. Should You?(Outside View)

Sep 12, 2018

PersonalFN elucidates if you should redeem from equity mutual fund now, and the approach to follow before you decide to sell mutual funds.

Are You Blindly Investing In Equities? Read This...(Outside View)

Sep 11, 2018

PersonalFN explains how blindly investing in equities can prove hazardous to your wealth and health.

Outperformance of Strong Established Brands in the Indian Stock market(Chart Of The Day)

Sep 14, 2018

Strong Well established Indian Brands have comfortably outperformed the index in the decade post the global financial crisis.

More

Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Sep 21, 2018 03:17 PM

MARKET STATS