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?  

Sensex Opens Flat; Realty and Telecom Stocks Drag
Wed, 23 Oct 09:30 am | Rini Mehta, TM Team

Asian share markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is flat while the Hang Seng is down 0.9%. The Shanghai Composite is trading down by 0.3%. US stocks ended lower on Tuesday, giving up early gains after British lawmakers rejected the government's proposed timetable for passing legislation to ratify its deal to exit the European Union.

Back home, India share markets opened flat with a negative bias. The BSE Sensex is trading down by 50 points while the NSE Nifty is trading down by 16 points. The BSE Mid Cap index up down by 0.3% and BSE Small Cap index opened up by 0.1%.

All sectoral indices have opened the day in red with realty stocks and telecom stocks witnessing maximum selling pressure.

The rupee is currently trading at 71.01 against the US$.

In the news from the banking sector. Axis Bank incurred a loss of Rs 1.1 billion for the quarter ended 30 September, due to a one-time hit of Rs 21.4 billion as the value of future relief through deferred tax assets (DTA) will fall because of the corporate tax rate cut.

Adjusted for this extraordinary item, net profit would have surged 156% to Rs 20.3 billion from Rs 7.9 billion a year earlier.

Axis Bank said it has been fully adjusted through Q2FY20 financials, which has impacted the earnings significantly.

Asset quality improved as the bank wrote off Rs 31 billion in the second quarter of FY20. Gross non-performing assets as a percentage of total assets stood at 5.03% in the September quarter compared with 5.25% in the June quarter.

The bank added fresh bad loans worth Rs 49.8 billion in the second quarter compared to Rs 48 billion in the previous quarter. Corporate slippages stood at Rs 28.6 billion.

Operationally, the bank's performance improved with net interest income growing 17% year-on-year to Rs 61 billion. Net interest margins stood at 3.51% at the end of September quarter.

Its loan book saw a growth of 19% with the retail loan book growing at 23% year-on-year. Growth in retail was led by strong growth in the unsecured portfolio, auto and small business banking, while SME witnessed a marginal blip in growth.

--- Advertisement ---
You're missing out on a profit source that's up to 200X bigger than stocks

Stocks have been performing terribly over the last 2 years...And it’s probably cost you a lot of money.

But what if we told you that instead of stocks - there’s another profit source that you can tap into...

One that’s up to 200 times bigger than stocks...

And has the potential to deliver explosive payouts like Rs 63,400 in 1 day, Rs 18,250 in 1 day, Rs 13,950 in less than 12 hours and a lot more.

When you can tap into a profit source like this, you won’t need to rely on stocks to build a fortune.

Now over the last 30 years, India’s #1 trader has been using a special Blueprint to trade these profit sources...And we’ve convinced him to share it with you.

All you need to do is register for a special summit we’re holding on the 26th of November.

Register now – it’s free.

*Past performance does not guarantee future results.
*Two lots of each trade have been assumed to calculate the returns of all the backtest examples used.

------------------------------

The corporate segment witnessed single-digit growth on a year-on-year basis, primarily led by degrowth in the international book. Net interest margin improved by 11 basis points, sequentially, due to a rise in spread and interest reversal.

Axis Bank share price opened up by 1.1%.

2019 has been brutal for some banking stocks.

The market has severely punished them. This is due to issues such as worsening asset-quality, corporate governance, and inadequate capital.

Stocks such as Yes Bank and Lakshmi Vilas Bank are down more than 70%.

Falling Knives in the Banking Sector

Falling Knives in the Banking Sector

Surprisingly, RBL Bank is the latest victim added to the worst performers list of 2019. You see, RBL Bank is down 64% from its recent high in May 2019.

What's the issue here?

Well, the management expects to face challenges in recovering some loans in the near term.

--- Advertisement ---
Our No. 1 Recommendation for 2020

This tiny company is Richa Agarwal's No. 1 Small Cap Stock for 2020…

It is a little-known company which trades around Rs 300, but is the backbone behind industry giants like Asian Paints, Vadilal and Heinz…

And has immense profit potential for early investors.

Get all the details here.
------------------------------

They have guided for elevated stress in a few corporate accounts, rising non-performing assets, and higher provisioning. This could impact the earnings of the bank.

Does this situation seem familiar to you?

Falling stock prices could be enticing. After all, we love deep discounts and good bargains.

But if you're thinking of buying these stocks it's important to remember this point - If a stock is in a falling spree, there's probably a good reason behind it.

And realising this in a falling market is the first step towards correcting one's investing process.

Moving on to the news from pharma sector. As per an article in a leading financial daily, Lupin has received approval for its Divalproex Sodium Extended-Release Tablets USP, 250 mg and 500 mg, from the United States Food and Drug Administration (USFDA).

The approval has been received to market a generic equivalent of Depakote Extended-Release Tablets, 250 mg and 500 mg, of AbbVie Inc.

Lupin's Divalproex Sodium ER Tablets USP, 250 mg and 500 mg are indicated for acute treatment of manic or mixed episodes associated with bipolar disorder, with or without psychotic features

The tablets had annual sales of approximately US$ 159 million in the US (IQVIA MAT June 2019).

Lupin share price opened the day down by 0.5%.

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

Equitymaster requests your view! Post a comment on "Sensex Opens Flat; Realty and Telecom Stocks Drag". Click here!

  

Stock Market Updates

ASTER DM HEALTHCARE LTD Plunges by 6%; BSE HEALTHCARE Index Up 0.6% (Today's Market)

Nov 15, 2019 12:36 PM

ASTER DM HEALTHCARE LTD share price has plunged by 6% and its current market price is Rs 158. The BSE HEALTHCARE is up by 0.6%. The top gainers in the BSE HEALTHCARE Index are GLENMARK PHARMA (up 5.2%) and SUN PHARMA ADV. RES. (up 3.7%). The top losers are ASTER DM HEALTHCARE LTD (down 5.7%) and FORTIS HEALTHCARE (down 7.2%).

ICICI BANK at All Time High; BSE BANKEX Index Up 1.0% (Today's Market)

Nov 15, 2019 12:31 PM

ICICI BANK share price has hit an all time high at Rs 510 (up 1.1%). The BSE BANKEX Index is up by 1.0%. Among the top gainers in the BSE BANKEX Index today are ICICI BANK (up 1.1%) and KOTAK MAHINDRA BANK (up 0.7%). The top losers include INDUSIND BANK (down 0.4%) and AXIS BANK (down 0.5%).

Indian Indices Trade Higher; Bharti Airtel & SBI Top Gainers (Today's Market)

Nov 15, 2019 12:30 pm

Indian share markets are trading on a positive note with the BSE Sensex up by 227 points while NSE Nifty is trading higher by 62 points.

SBI Surges by 5%; BSE BANKEX Index Up 1.0% (Today's Market)

Nov 15, 2019 12:26 PM

SBI share price has surged by 5% and its current market price is Rs 322. The BSE BANKEX is up by 1.0%. The top gainers in the BSE BANKEX Index is SBI (up 5.1%). The top losers are INDUSIND BANK (down 0.3%) and AXIS BANK (down 0.5%).

AU SMALL FINANCE BANK Plunges by 5%; BSE BANKEX Index Up 0.9% (Today's Market)

Nov 15, 2019 11:56 AM

AU SMALL FINANCE BANK share price has plunged by 5% and its current market price is Rs 826. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index are SBI (up 4.3%) and BANK OF BARODA (up 1.6%). The top losers is AU SMALL FINANCE BANK (down 5.3%).

FORTIS HEALTHCARE Plunges by 11%; BSE 500 Index Up 0.4% (Today's Market)

Nov 15, 2019 10:59 AM

FORTIS HEALTHCARE share price has plunged by 11% and its current market price is Rs 161. The BSE 500 is up by 0.4%. The top gainers in the BSE 500 Index are CORPORATION BANK (up 17.2%) and CENTRAL BANK (up 9.8%). The top losers is FORTIS HEALTHCARE (down 10.9%).

View More Indian Share Market News

Most Popular

Crash Alert! Is There a Big Bubble in Nestle, HUL and Asian Paints?(Profit Hunter)

Nov 7, 2019

Is this the beginning of the end of multibagger gains in quality stocks like Nestle, HUL, and Asian Paints?

These 10 Days Are Crucial for Getting Rich in the Smallcap Rebound(Profit Hunter)

Nov 5, 2019

How to avoid the most common investing mistake and make the most of the smallcap rebound.

Why Moody's Rating Downgrade is a Strong Sign to Buy Stocks(The 5 Minute Wrapup)

Nov 8, 2019

Investors who took cues from Moody's rating downgrade in 1992 and 2002 created some of the biggest wealth of their lifetime.

The Top Stocks for 2020 Pass This Most Critical Metric(The 5 Minute Wrapup)

Nov 5, 2019

Charlie Munger's favorite fictional character, Mr Glotz, picks stocks using this metric.

What to Buy at Sensex 40,000(The 5 Minute Wrapup)

Nov 4, 2019

Should you invest in high-quality, safe stocks or make some contrarian bets in the smallcap space?

More

Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2020
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Nov 15, 2019 (Close)

MARKET STATS