Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


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

Sensex, Nifty Continue Downtrend to End Lower for 4th Day; Metal & IT Stocks Drag
Fri, 22 Oct Closing

After opening the day on a positive note, Indian share markets witnessed volatile trading activity throughout the day today and ended lower.

Benchmark indices finished lower for the fourth straight session amid volatility and weakness in shares of ITC, Tata Steel and Infosys.

At the closing bell, the BSE Sensex stood lower by 102 points (down 0.2%).

Meanwhile, the NSE Nifty closed lower by 63 points (down 0.4%).

HDFC and Bajaj Auto were among the top gainers today.

Hindalco and Coal India, on the other hand, were among the top losers today.

The SGX Nifty was trading at 18,139, down by 64 points, at the time of writing.

The BSE MidCap index and the BSE SmallCap index ended down by 1% and 1.2%, respectively.

Sectoral indices ended on a negative note with stocks in the metal sector, IT sector and healthcare sector witnessing most of the selling pressure.

Realty stocks, on the other hand, witnessed buying interest.

--- Advertisement ---
Why Bill Gates, Warren Buffett and Jeff Bezos are Pumping Millions of Dollars Here

If Bill Gates, Warren Buffett and Jeff Bezos are investing millions of dollars into something, then you know it's a BIG opportunity.

Yes, an exorbitant sum of money is being pumped into the electric vehicle ecosystem by the world's elite and smart investors.

In the next ten years alone, the segment is expected to see a whopping 15x growth.

In Equitymaster's latest secret research project, we have uncovered a hidden way to ride this massive 15x EV opportunity.

All you have to do is click the link below to know how to get your hands on our research findings:

Just click here to get full details...

Shares of HDFC and Shriram Transport hit their respective 52-week highs today.

Asian stock markets ended on a mixed note today.

The Hang Seng ended up by 0.4%, while the Shanghai Composite ended down by 0.3%. The Nikkei ended up by 0.3% in today's session.

US stock futures are trading on a flat note today with the Dow Futures trading up by 12 points.

The rupee is trading at 74.89 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.7% at Rs 47,721 per 10 grams.

Speaking of the stock markets, India's #1 trader, Vijay Bhambwani talks about how to know if your stock will fall, in his latest video for Fast Profits Daily.

Tune in to the video below to find out more:

In news from the pharma sector, Biocon was among the top buzzing stocks today.

Shares of Biocon dipped over 7% after the company's net profit declined 18% for the second quarter ended September 2021.

Biotechnology major Biocon said its consolidated net profit declined to Rs 1.4 bn for the second quarter.

The Bengaluru-based company had reported a net profit of Rs 1.7 bn in the July-September quarter of the previous fiscal.

Revenue from operations, however, increased 5% in the second quarter to Rs 18.4 bn from Rs 17.5 bn in the year ago period.

The company said it has made provisions under exceptional item regarding modification of the optionally convertible debentures of a PE investment in Biocon Biologics, and reversal of services export incentive scheme (SEIS) claims relating to a prior period.

Discover Now: One Stock for Potentially Life-changing Gains

It added that net profit for the second quarter, before such exceptional items, stood at Rs 1.9 bn, up 11% from the year ago period.

Biocon's Executive Chairperson Kiran Mazumdar-Shaw stated,

  • With the waning pandemic and improvements in supply chain conditions, I believe all three business segments, generics, biosimilars and research services, are well positioned for sustained growth in the second half of the financial year 2022.

The company noted that its entry into vaccines and novel antibodies for infectious diseases, which are a natural adjacency to its biosimilars business, will be a future growth driver for its subsidiary Biocon Biologics.

Biocon Biologics and Serum Institute Life Sciences (SILS) have entered into a strategic alliance that provides Biocon Biologics an asset light and accelerated entry into the vaccines segment.

Biocon share price ended the day down by 6% on the BSE.

Moving on to news from the telecom sector...

Bharti Airtel's Rights Issue Receives Good Response

Bharti Airtel's Rs 210 bn rights issue, which was open between 5 October and 21 October 2021, was fully subscribed. The shares were issued at a price of Rs 535 per share, including face value of Rs 5 per share and a premium of Rs 530 per share. In a rights issue, a company offers rights to its existing shareholders to buy additional shares.

The eligible shareholders will receive one share for every 14 shares held on the record date. The record date for determining shareholders' eligibility to participate in the rights issue was 28 September 2021.

Track: Stocks Recently Bought by Mutual Funds for FREE

Bharti Airtel only collected 25% payment upfront and the remaining 75% will be collected over a three-year period in two tranches. The shares issued under the rights programme will be traded separately as partly-paid shares and the trading will take place from 28 October 2021.

Airtel is the second largest telco in the Indian telecom market, next only to Reliance Jio, with a mobile user base of 352 m.

Bharti Airtel share price ended the day down by 0.2% on the BSE.

Speaking of the stock markets, a right investing process can help you win in the long term. It might offer some unexpected and undesirable results in the short term but lets you fare well when you average the outcomes.

According to Richa Agarwal, Senior Research Analyst at Equitymaster, any investment process should not be judged based on individual outcomes. Instead, it should have stood the test of the time.

Her smallcap service Hidden Treasure has had its fair share of failures. But sticking to a disciplined process meant that Hidden Treasure's internal rate of return (IRR) increased to 24.38% since inception. This compares favourably to the IRRs of 9.6% for the Sensex, and 8.8% for the smallcap index in the same period (February 2008 - June 2020) as can be seen in the chart below.

The service's performance did suffer in the short term after the 2018 crash in smallcaps. However, the long term track record and the post Covid rebound underscores the strength of stock picking process.

If you are interested in becoming a Hidden Treasure subscriber, here's where you can sign up.

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 "Sensex, Nifty Continue Downtrend to End Lower for 4th Day; Metal & IT Stocks Drag". Click here!


Stock Market Updates

Sensex Trades Higher, Nifty Above 17,250; Power Grid, IOC & Titan Among Top Gainers (Today's Market)

Dec 2, 2021 10:30 am

Indian share markets trade higher with the BSE Sensex up by 362 points, while the Nifty is trading higher by 104 points.

SGX Nifty Down 62 Points, M&M Tractor Sales, Nykaa's Expansion Plan, and Buzzing Stocks Today (Today's Market)

Dec 2, 2021 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Infosys vs TCS: Which is Better?(Views On News)

Nov 26, 2021

In the post pandemic era, the top two IT companies in India are fighting to capture the growing demand for IT.

This Multibagger Stock Zooms 20% After Dolly Khanna Buys Stake(Views On News)

Nov 24, 2021

Shares of this edible oil company zoomed over 50% in three days after ace investor bought around 1% stake.

6 Popular Stocks that Turned into Penny Stocks(Views On News)

Nov 27, 2021

A look at popular stocks that crashed big time and never recovered, i.e. which went from 'Multibaggers to Multibeggers'.

How to Find Your Next 10-Bagger in this Market(Profit Hunter)

Nov 19, 2021

The #1 make or break factor in your portfolio you shouldn't ignore.

MobiKwik IPO Opens for Subscription Soon. Key Things to Know Before Subscribing.(Views On News)

Nov 20, 2021

The Rs 19 bn issue is set to hit the market soon.


Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2022
Get our special report Multibagger Stocks Guide (2022 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Dec 2, 2021 03:36 PM