Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
Investing in India? Get Equitymaster Research  
Mid & small caps buck trend 
(Mon, 29 Sep Closing) 
After trading flat during post noon trading session, the Indian equity markets lost further ground and closed the day in the red. While the BSE-Sensex today closed lower by 29 points, the NSE-Nifty closed lower by 10 points. However, Midcaps and Smallcaps bucked broader market trend and closed in the positive. While the BSE Mid Cap index closed higher by 1%, the BSE Small Cap index was up by 1.5%. Healthcare and Tech stocks were the biggest gainers today.

As regards global markets, Asian indices closed mixed today. The rupee was trading at Rs 61.5 to the dollar at the time of writing.

In a landmark verdict, the Supreme Court of India has cancelled the approvals of 9 SEZs citing unsatisfactory progress made to execute projects. Some of these SEZs belonged to noted industrialist groups like Adani, Essar and Aditya Birla. The SC has also asked the developers to refund the benefits availed by them. As per the rules, for the approval to be valid at least one unit should commence production within the area inside of 3 years. This gives SEZ an operational status. However, most corporates were unable to fulfill this condition and commence production within the stipulated time period. As a result, their approvals have been cancelled.

The RBI is likely to announce its monetary policy tomorrow. And the consensus seems to be that the Central Bank will choose to remain hawkish despite inflation showing signs of cooling down. It may be noted that retail CPI eased to 7.8% in August from about 8.6% in April. However, the level is still above the comfort zone of RBI and hence many believe that rates will remain intact in tomorrow's monetary policy. It may be noted that until now, high rates have been a big dampener for revival in capex cycle. And with RBI expected to keep them intact, revival in growth may take a bit longer than anticipated.

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

View all commentaries | Archives  RSS
Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Mid & small caps buck trend". Click here!


Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Jul 28, 2017 (Close)