X

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
  • MyStocks

MEMBER'S LOGINX

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

Sensex Ends the Week on a Dull Note, Infosys Falls 2.3%
Fri, 14 Oct Closing

Indian share markets continued to trade range-bound in the afternoon session thus ending on a flat note. At the closing bell, the BSE Sensex stood higher by 30 points, while the NSE Nifty finished higher by 10 points. The S&P BSE Mid Cap & the S&P BSE Small Cap finished higher by 0.8% each. Barring IT and metal sectors, all the sectoral indices finished in the green. Gains were largely seen in oil & gas & capital goods stocks.

Infosys shares tumbled as much as 5.3% to their lowest since July 20, 2015 after the company cut its fiscal-year revenue growth target for a second time in three months on an uncertain business outlook. Click here to access the Q2 results for Infosys Ltd.

Asian markets finished higher with shares in Hong Kong leading the region. The Hang Seng is up 0.88%, while Japan's Nikkei 225 is up 0.49% and China's Shanghai Composite is up 0.08%. European markets are also broadly trading higher today with shares in France leading the region. The CAC 40 is up 1.76%, while Germany's DAX is up 1.59% and London's FTSE 100 is up 0.83%.

The rupee was trading at 66.85 against the US$ in the afternoon session.

As per an article in Livemint, Cipla received clearance from the US Food and Drug Administration (USFDA) pertaining to its plant in Indore.

The company had received a warning letter pertaining to this plant in October 2015. This clearance will open up opportunities to get approvals for products filled from this facility for the US generics market.

However, it is imperative to note that Cipla's main market is India and it gets 40% of its revenues from here. US just accounts for around 18% of the company's revenues. Hence, the clearance of this facility may not prove to be a great revenue booster for the company in the near term.

Having said that, lately the company has been aiming for a much bigger presence in the US generics market. This is evident in this quarter's result, wherein sales in the US territory increased by a robust 30% as compared to the same quarter in the previous year.

Hence, the clearance of this facility could possibly matter a lot in the long run wherein the company will increasingly focus its concentration in the US. The share price of Cipla ended the day trading higher by 0.8%.

In another news update, the government is seeking a parliamentary approval to spend about US$ 7.5 billion more on roads, railways and other public programmes.

The decision comes at a time when private investments have continued to remain weak. This is on account of their highly leveraged balance sheets coupled with excess capacities and banks' reluctance to lend to the corporate sector on the back of the ongoing bad loan scenario.

It is imperative to note that the government has already exhausted around 73.7% of the annual fiscal deficit budget targets in the first four months of this fiscal year.

A point that needs to be mentioned here is that the expenditure of the government is front loaded, whereas a major chunk of its revenues start to come in only in the second half of the year. However, even with this disclaimer, the expenditure of government looks far more than its receipts in FY17.

Going by the current scenario, the government's fiscal deficit target seems to be under stress. And this begs the question: What shall the government do to keep its bargain on the fiscal deficit front?

Vivek Kaul, editor of Vivek Kaul's Diary, has answered this question in one of his recent articles. He has also just launched the Vivek Kaul Letter which outlines the Indian economy and its many challenges.

Apurva's First-Ever Training Session

For those into technical analysis, we have some good news for you. Apurva Seth, Managing Editor of Swing Trader, our popular charting service, will be conducting his first-ever training session today at 5pm.

You can attend the session from the comfort of your home or office and access it on your desktop or mobile. And before you ask...it's completely free. Yes, you read that correctly. Apurva wants the maximum number of people to benefit from the session. So we are inviting everyone who is interested in trading to attend. Please book your seat for this training session immediately.

The big draw of the session is that Apurva will be revealing what he calls his 'Secret Profit Signal'. What's that? Here's Apurva in his own words:

  • Well, the Secret Profit Signal is a method I designed after years of tracking the markets. This signal has helped me identify numerous money-making opportunities in the markets. It has stood the test of time and delivered solid returns across market conditions.

    During 2016, this signal has helped me identify numerous trading opportunities and delivered returns such as 11.15% in ten days, 18.24% in nineteen days, 15.79% in six days, and so on.

    With this method, I have guided numerous mutual funds, insurance companies, and foreign institutional investors (FIIs) to solid profits. And since joining Daily Profit Hunter two years ago, I have been using the same method and guiding our subscribers to solid profits.

    And now I want all our readers to benefit from it. That's why I am conducting this session and revealing my Secret Profit Signal
    .

And that's not all. Apurva has a surprise gift for everyone who attends - his 66-page PDF guide, Profit Triggers.

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 "Sensex Ends the Week on a Dull Note, Infosys Falls 2.3%". Click here!

  

S&P BSE SENSEX


May 26, 2017 (Close)

MARKET STATS