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
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian markets finish in red
Mon, 12 Oct Closing

After trading range bound for a major part of the day, the Indian equity markets closed the day in the red. While the BSE-Sensex today closed lower by 175 points, the NSE-Nifty closed lower by 46 points. However, Midcaps finished on a positive note today. While the S&P BSE Midcap index closed higher by 0.2%, the S&P BSE Smallcap index ended on a flat note. IT and healthcare stocks were the biggest losers today.

Asian markets closed sharply higher today with shares in China leading the region. The Shanghai Composite was up 3.28%, while Japan's Nikkei 225 was up 1.64% and Hong Kong's Hang Seng was up 1.21%. European markets have opened lower in early trade. The rupee was trading at 64.72 against the US$ in the afternoon session.

Food and Tobacco stocks stocks ended the trading day with moderate losses with Golden Tobacco and Nestle bearing majority of the brunt. According to a leading financial daily, Nestle's health science division has decided to invest US$70 million in a product technology centre. Reportedly, this new division will become the company's new US headquarters and research hub. The Bridgewater, New Jersey centre will further Nestle's healthcare push as the company digs deeper into nutritional therapy and the high-margin medicines arena. The scrip of Nestle closed with negative bias (down 1.5%) on the BSE.

In its first quarter results for the financial year ending 2016, Nestle reported a revenue decline of 20% YoY during the quarter, while reporting a loss at the net level. Devanshu Sampat, our research analyst, has given a detailed analysis of the results (Subscription Required). He has explained the kind of impact the Maggi fiasco has had on the company's performance during the quarter.

Shares of Bharat Heavy Electricals Limited (BHEL) ended the trading day on an encouraging note (up 2%)after it was reported that the company has commissioned 2,730 Mega Watt (MW) of utility power projects in the first six months of FY16. It is more than double the power project commissioning achievement of 1,167 MW in the corresponding period of last year. The 660-MW Lalitpur unit was synchronized 3 months ahead of schedule. Notably, this is the first supercritical set to be commissioned in Uttar Pradesh.

The hydro sets commissioned by BHEL in the first two quarters total 730 MW, which is nearly the same as the total hydro capacity added in the country during 2014-15. In addition, 125 MW of overseas projects and 330 MW of captive power plants were also set into proposal by BHEL during this period.

Though the order book is enough, the company has not been seeing enough traction in execution of projects due to various issues such as getting clearance, land etc. The management has mentioned that it sees traction coming in from the third quarter of FY16 in terms of these issues.

The management has expressed its view that it sees the economy showing some signs of recovery, and expects industrial activity to continue to improve on the back of higher spending by the government. The government seems set to finalize a few big orders under the 'Make in India' initiative, and BHEL will be a beneficiary of some of them.

Last week, we told you about Asad Dossani's 3 Part Master Series - Income At Will.

In the series, Asad is revealing his secret trading strategy that has the potential to deliver steady income week-after-week, month-after-month, year-after-year!

And you will be glad to know that video #2 of this Master Series is now LIVE. And you can access video #2 by just clicking here.

In this video, you'll see Asad break down the Income At Will strategy into simple, easy-to-follow steps and Asad will share some real life trade examples too.

So be sure to watch it right away! As with video #1, video #2 will also be available for the next 48 hours.

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 "Indian markets finish in red". Click here!


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