Sensex Opens in Green; Yes Bank & Adani Ports Top Gainers

Tue, 9 Oct 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian stocks are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.9% while the Hang Seng is up 0.4%. The Shanghai Composite is trading up by 0.5%. Meanwhile, the Nasdaq fell on Monday for the third straight day as a sell-off in Chinese markets sparked concerns about slowing global economic growth, though the S&P 500 pared losses to end nearly flat.

Back home, India share markets opened in green today. The BSE Sensex is trading up by 76 points while the NSE Nifty is trading up by 42 points. The BSE Mid Cap index and BSE Small Cap index both opened the day up by 0.5%.

Sectoral indices are trading on a mixed note with automobile stocks and energy stocks witnessing maximum selling pressure. While, capital goods stocks and healthcare stocks have opened the day in green.

The rupee is trading at Rs 73.97 against the US$.

Speaking of the market correction, over the 22 trading sessions that followed since then, the total market cap of all BSE companies declined by 14% to Rs 136.6 trillion. Rs 22.7 trillion worth of shareholder wealth has been destroyed in just 22 days.

Ankit Shah, our research analyst, compiled the stock price data of 2,733 listed companies on the BSE. He found out how much each stock had fallen from its respective 52-week high.

Here's what he found out...

• 688 stocks (25% of the active stock universe) have crashed 61% or more from their respective 52-week highs.
• On average (in both mean and median terms), Indian stocks have corrected 46% from their 52-week high.
• There are just 112 stocks (4% of the active stock universe) that have corrected 10% or less.

The Average Stock Has Crashed 46% From Its 52-Week High

During this period, foreign investors sold Indian equities worth Rs 179.2 billion.

So, what should you do in such times? How is all of this going to impact you and your portfolio? Amid uncertainty, panic and despair, Tanushree Banerjee, Co-head of Research is finding safe stocks. In our latest edition of the stock market podcast, she talks about such stocks. Listen in... visit SoundCloud, iTunes or Stitcher.

In the news from the mining sector. As per an article in a leading financial daily, Coal India has inked a pact with NLC India Limited (formerly Neyveli Lignite Corporation) to generate power from both conventional and renewable sources.

Reportedly, a memorandum of understanding has been signed with NLC India to form a joint venture company for 3000MW of solar power and 2000MW of thermal power projects. The cumulative investment in the projects is estimated at Rs 120 billion.

Further, as per the reports, there were two reasons for the joint venture. First, the PSU is looking to increase its own consumption of renewable power and second, it is exploring the possibility of power plants at pitheads where costs will be low.

The joint venture would have equal equity participation and has set a deadline of 15 months to complete the solar power project and four years for the thermal power project.

The projects would be financed through a debt equity ratio of 70:30, according to Central Electricity Regulatory Commission norms.

The solar power projects will be set up in identified barren and reclaimed free land of Coal India and also across the country where land is available. The cumulative land required is estimated at around 15,000 acres. The memorandum also extends to thermal power generation across CIL's subsidiaries.

Coal India share price opened the day up by 1.6%.

Moving on to the news from the economy. In the latest development, the International Monetary Fund (IMF) on Tuesday acknowledged the economic reforms carried out under Prime Minister Narendra Modi and projected India to be the world's fastest growing major economy this year and next.

The World Economic Outlook (WEO) released ahead of the IMF annual meeting in Bali stated that in India, important reforms have been implemented in recent years, including the Goods and Services Tax, the inflation-targeting framework, the Insolvency and Bankruptcy Code, and steps to liberalize foreign investment and make it easier to do business.

But citing external factors, the recent increase in oil prices and the tightening of global financial conditions, it cut India's growth projection made in July for next year by 0.1% to 7.4%, which would still be the world's fastest growth rate for major economies.

It kept the 7.3% growth projection for this year made in July.

Compared to the projections made in April, the current one for 2018 is lower by 0.1% and for 2019 by 0.4%.

Up from India's growth rate of 6.7 per cent in 2016, the growth projections for this year and the next reflect a rebound from transitory shocks of demonetisation and the implementation of the national Goods and Services Tax" and "strengthening investment and robust private consumption, the report stated.

Overall for the global economy, the IMF cut the growth projections made in July for this year and the next by 0.2% to 3.7%, as IMF warned that there are clouds on the horizon and the likelihood of further negative shocks to our growth forecast has risen.

And 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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers