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?  

Global Stock Market Update, Yes Bank Saga, and Top Cues in Focus Today
Fri, 4 Oct Pre-Open | Monish Vora, TM Team

Indian share markets ended lower yesterday as investors turned cautious ahead of Reserve Bank of India's (RBI) bi-monthly policy statement due today.

At the closing bell yesterday, the BSE Sensex stood lower by 199 points (down 0.5%) and the NSE Nifty closed down by 47 points (down 0.4%).

The BSE Mid Cap index ended the day down by 0.3%, while the BSE Small Cap index ended the day down by 0.4%.

Sectoral indices ended on a mixed note with stocks in the metal sector, finance sector and telecom sector leading the losses, while oil & gas stocks and realty stocks witnessed buying interest.

--- Advertisement ---
We are Bullish on These 3 Little-known Stocks

Our research has uncovered 3 tiny stocks.

You won't hear about these stocks from the mainstream media or your stock broker.

They generally ignore such small size companies.

But our research says, these 3 little-known stocks are set for a massive rally over the coming months and years.

They can potentially offer solid double and triple digit gains to investors.

So, if you are an investor looking to buy good stocks to invest in...when the markets are at all-time high...

Then you must seriously consider these 3 stocks.

You can get the details of these 3 stocks at our free online summit.

We would recommend you to sign-up at the earliest. Because we have limited FREE seats and they are filling up fast.

Click here to sign-up instantly. It's free.
------------------------------

Top Stocks in Focus Today

From the aviation sector, IndiGo share price will be in focus today as the company's co-founder Rahul Bhatia and his IGE Group yesterday submitted a request for arbitration in the London Court of International Arbitration against partner Rakesh Gangwal on issues of compliance with the shareholders' agreement and articles of association in the company.

Federal Bank share price will be in focus today as the lender has entered into a tie-up with Speed Money Transfer Japan KK (SMTJ), a financial services company, to facilitate instant money transfer from Japan to India.

Meanwhile, Bank of Baroda has signed a Memorandum of Understanding (MoU) with Indian Army under which the bank would offer customized services along with a host of facilities to account holders.

Wipro share price will also be in focus today as the company has completed the transaction under which it was to absorb certain employees of Vara InfoTech as part of its US$ 300 million deal with ICICI Bank.

To know more about the company, you can read Wipro's latest result analysis and Wipro's 2018-19 annual report analysis on our website.

Market participants will also track Coal India share price. The company has reported fall in its production by 23.5% to 30.8 million tonnes in September. The production in the same month a year ago stood at 40.3 million tonnes.

The Yes Bank Saga

Yes Bank share price will be in focus today. The stock of the lender witnessed buying interest yesterday as investors thought the promoter share sale overhang on the stock is over.

Buying interest was also seen as the private lender clarified in a BSE filing that the material drop in its share prices on October 01, 2019 was primarily on account of the forced sale of 10 crores equity shares (3.92% of the Bank's equity share capital) triggered by an invocation of pledge on the equity shares of a large stakeholder.

Further, the bank said that it would like to confirm that it's financial and operating metrics remain intrinsically sound and stable with liquidity position well in excess of regulatory requirements.

Note that the stock of the lender slumped as much as 23% on Tuesday on account of forced sale of 10 crore equity shares, representing 3.9% of the bank's equity share capital.

The bank said a large stakeholder invoked shares pledged with it, following which the entire pledge stood extinguished.

Shares of the bank also tumbled 15% on amid concerns over its exposure to Indiabulls Housing Finance. And on Tuesday, the stock lost 29.9% intraday. It closed at Rs 32 on the BSE, making it the worst hit.

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

The stock was down for the fifth consecutive session on Tuesday, with Rs 48.3 billion worth of market cap eroded during the period.

Following the recent invocation of pledged shares by lenders and offloading of stake by various promoter entities, co-promoter Rana Kapoor's stake in the bank has slipped below 1%.

The stock price YES Bank has been under pressure ever since the RBI curtailed its promoter-chief executive Kapoor's term on corporate governance concerns. Many of the bank's past lending bets under Kapoor are haunting the earnings now and keeping the share prices depressed.

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space. Stay tuned.

Global Stock Market Drivers

Asian stocks tumbled to a one-month low on Thursday as already-growing market fears about global growth were fanned by the United State announcement of new import tariffs on products from the European Union.

Japan's Nikkei closed down by 2%, its biggest one-day decline since August 26.

On Wednesday, there was an escalation of the trade dispute between Washington and the European Union as President Donald Trump's administration announced it would impose tariffs on US$ 7.5 billion of goods.

Washington will enact 10% tariffs on Airbus planes and 25% duties on French wine, Scotch and Irish whiskies and cheese from across the continent.

Most Asian currencies edged up as weak US economic data renewed hopes that the Federal Reserve will resume making rates cuts to prop up growth rate in the United States.

As per the economic schedule released by Vijay Bhambwani, here are the important events which are due later today:

  • Australia - Retail Sales August
  • India - Services PMI September
  • USA - Unemployment Rate September

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


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Global Stock Market Update, Yes Bank Saga, and Top Cues in Focus Today". Click here!

  

Stock Market Updates

TORRENT POWER Share Price Up by 5%; BSE POWER Index Up 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).

DILIP BUILDCON Share Price Up by 8%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

Mar 4, 2021 03:12 PM

DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).

BALRAMPUR CHINI Share Price Up by 10%; BSE 500 Index Down 0.3% (Today's Market)

Mar 4, 2021 03:00 PM

BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .

INDIAN ENERGY EXCHANGE Share Price Up by 7%; BSE POWER Index Up 0.9% (Today's Market)

Mar 4, 2021 02:48 PM

INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).

ITD CEMENTATION INDIA Share Price Up by 8%; BSE REALTY Index Up 0.3% (Today's Market)

Mar 4, 2021 02:36 PM

ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).

Sensex Trades Over 300 Points Lower; Dow Futures Down by 101 Points (Today's Market)

Mar 4, 2021 12:30 pm

BSE Sensex is trading down by 385 points, while the NSE Nifty is trading down by 103 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

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


Mar 4, 2021 (Close)

MARKET STATS