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?  

Small and midcaps in favour today
Tue, 19 Oct 01:30 pm

The Indian markets continued to trade in the neutral zone during the previous two hours of trade. Currently, stocks from the healthcare, auto and banking spaces are leading the pack of gainers, while those from the IT and metals spaces are leading the pack of losers. FMCG and power stocks are currently amongst the lowest gainers. The overall market sentiment, however, paints a different picture as the advance to decline ratio is poised at 1.8 to 1 on the overall BSE.

The BSE-Sensex and the NSE-Nifty are currently trading flat. On, the other hand, midcap and smallcap stocks are seeing some interest as the BSE-Midcap and BSE-Smallcap indices are up by about 1.1% each. The rupee is trading at 44.41 to the US dollar.

Stocks of capital goods companies are currently trading mixed with Triveni Engineering and Alstom Projects trading weak, while LMW and Suzlonare leading the pack of gainers. A leading business daily has reported that engineering and construction major L&T has received an order of Rs 15 bn from DB Power. As part of the project, the company will execute the balance of plant (BoP) work for DB Power's 2x600 MW thermal power plant in Chhattisgarh. This project is expected to be completed within a period of 31-months. As part of this project, L&T will design, engineer, supply, erect and commission the BOP equipment and systems on an engineering, procurement and construction (EPC) basis. This will be a positive for the company, as it would add to its order backlog. It may be noted that and end of the quarter ended September 2010, L&T had an order backlog of almost Rs 1.2 trillion. This is nearly 3.4 times its FY10 revenues.

Further, the company has been in the limelight today over who will take chairmanship in the company once Mr. A.M. Naik, L&T's current Chairman retires. It has been reported that he is scheduled to step down in two years. While these discussions have been ongoing for a while now, the recent induction of Mr. Ravi Uppal (who heads L&T Power) to the company's board (as a whole time director) are adding to the buzz of him taking over from Mr. Naik. What may actually happen remains to be seen.

Energy companies are trading up led by Gujarat State Petronet and BPCL. As per a leading financial daily, state run India Oil Corporation (IOC) will be coming out with a public issue even bigger than the Coal India Limited issue. The company is expected to start short listing merchant bankers next week to raise about Rs 190 bn. While half the proceeds will go to the government which will be offloading 10% of its stake in the company, the remaining money will go to the company (which will sell another 10% stake) for building new refineries. According to a government official, the issue will hit the market in January 2011. In may be noted that the government has to meet its disinvestment target of Rs 400 bn this fiscal. Post the issues of Coal India and Power Grid, the government would have mopped up about Rs 220 bn. With the issue of IOC, Hindustan Copper and Manganese Ore, the total proceeds would cross Rs 350 bn. Furthermore, with the SAIL issue of Rs 80 bn, the government would achieve its disinvestment target.

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 "Small and midcaps in favour today". Click here!

  

Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

View More Indian Share Market News

Most Popular

Is Intraday Trading For You?(Fast Profits Daily)

May 13, 2021

Do you think you have what it takes to be an intraday trader? Find out in this video.

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

The Key to Profit from India's EV Revolution(Profit Hunter)

May 7, 2021

Stocks you must consider investing in before buying your first electric vehicle.

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


May 14, 2021 (Close)

MARKET STATS