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?  

Power, banks gain in a choppy session
Mon, 24 Sep Closing

At the end of what was a very choppy session, taking cues from their peers in Asia, the indices in Indian equity markets closed the day well below the dotted line. Closing near the day's lows, the BSE-Sensex closed lower by around 79 points whereas losses on the NSE-Nifty came in at around 22 points (down 0.4%). BSE Mid Cap and BSE Small Cap indices, however, bucked the trend, edging higher by around 0.3% each. Select power, banking and auto stocks managed to find investor interest.

Asian indices across the board, except China, closed lower today with Europe too trading in the negative currently. The rupee was placed at Rs 53.46 to the dollar at the time of writing.

After reforms in diesel pricing and FDI in retail and aviation, the government is expected to address some of the reform needs of India's beleaguered power sector today. Hence, power sector stocks registered smart gains in a choppy market today on the back of expectation of restructuring of loans of state electricity boards. The Chaturvedi panel's recommendations are likely to be implemented. This will entail 50% of the short term debt of SEBs to be taken over by the respective states and the balance 50% to be restructured by banks.

The government is set to offer a bailout to its cash-strapped power distributors that would help restructure more than US$35 bn in debt but do little to reform a sector whose dysfunction has exacerbated the country's growth-sapping energy crisis. A lifeline for power distributors (SEBs) would free up cash and help them buy more power to plug their energy gaps. However, the loan restructuring cold mean additional NPA burden for PSU banks.

Meanwhile, PSU banking major, Bank of Baroda is planning to hire around 20,000 people over the next four years and will add more than 500 domestic and international branches and offices in the current fiscal. The bank has a network of 4,000 branches in India and 96 foreign branches and offices. With its net NPA (non-performing assets) at 0.5% of advances, the bank has relatively lower NPAs among peer banks. However, the share of assets restructuring stood at 5.5% of advances. The bank is also targeting loan growth of 19% in FY13.

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 "Power, banks gain in a choppy session". Click here!

  

Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

View More Indian Share Market News

Most Popular

Is Intraday Trading For You?(Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution(Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

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


May 14, 2021 (Close)

MARKET STATS