Sensex Ends on a Firm Note; Asian Paints Rallies 4% on Strong Q2 Result

Tue, 24 Oct Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   11:30 am   

   01:30 pm   

Indian share markets rose 100 points in the afternoon session to finish in green for second consecutive day. At the closing bell, the BSE Sensex closed higher by 101 points and the NSE Nifty finished up by 23 points. The S&P BSE Mid Cap finished up by 0.2% while S&P BSE Small Cap finished up by 0.6%. Gains were largely seen in PSU stocks, power stocks and energy stocks.

While stocks like D-mart have run up, the overall Indian stock market hasn't done badly either. In fact, amongst all major indices, the Indian stock markets have given the best returns in 2017.

Global Index Returns in 2017

This, despite two major disruptions faced in recent years by the Indian economy. In fact, Sensex has been making new highs every day. Back in March 2016, we had predicted Sensex to touch 40,000 within a 3 to 4 year timeframe.

At this pace, it seems like Sensex might get there sooner rather than later. Which may not necessarily be a good thing. The current run seems to extrapolate all good news into the future and expects the ride to be smooth and consistent. But, history has shown that markets rarely work that way.

In such an environment, it makes sense for investors to be selective while buying stocks. Focus on value and the underlying fundamentals of the business. Then, they need not worry about the market.

Asian stock markets finished mixed as of the most recent closing prices. The Nikkei 225 gained 0.50% and the Shanghai Composite rose 0.22%. The Hang Seng lost 0.53%. European markets are mixed today. The CAC 40 is up 0.22% while the DAX gains 0.14%. The FTSE 100 is off 0.03%.

Rupee was trading at Rs 64.93 against the US$ in the afternoon session. Oil prices were trading at US$ 51.98 at the time of writing.

HDFC bank share price finished the day up by 0.2% on the BSE. HDFC Bank Ltd reported a 20.1% jump in its September quarter net profit due to higher net interest income and other income. The bank reported a profit of Rs 41.51 billion up from Rs 34.55 billion a year ago.

Net interest income (NII) or the core income a bank earns by giving loans rose 20.75% to Rs 96.52 billion versus Rs 79.93 billion last year.

As a percentage of total loans, gross non-performing assets (NPAs) rose to 1.26% as compared to 1.24% in the previous quarter and 1.02% in the year-ago quarter. Net NPAs were at 0.43% in the September quarter compared to 0.44% in the previous quarter and 0.3% in the same quarter last year.

Asian Paints Ltd's share price rose 4.1% after the company reported a 21% increase in its second-quarter profit. The company's September quarter consolidated net profit Rs 5.76 billion versus Rs 4.76 billion last year. Revenue from operations rose to Rs 42.74 billion versus Rs 41.79 billion last year.

In news from the economy, the SBI Research in its latest report has said that for the first time in about seven years, the government may achieve the fiscal deficit target of 3.2% of Gross Domestic product (GDP) in the fiscal year 2017-18, as the budgeted disinvestment receipts are on track to realise Rs 725 billion.

As per the report, currently there are predictions that government is going to have a big revenue slippage in 2017-18 which may impact the headline fiscal deficit numbers, however, such projections flunk the test of logical reasoning and are grossly misconstrued. It also noted that even if the nominal growth declines significantly in 2017-18, fiscal deficit would be impacted by at most 10 basis points in upward direction.

SBI's economic research department estimates that there could be a shortfall of Rs 1.1 trillion in the revenue receipts, disinvestment receipts worth Rs 725 billion and expenditure cuts are likely to offset the impact.

The report also highlighted that the non-tax revenue may decline by Rs 380 billion because of lower spectrum proceeds among others. The report further observed that the government has accumulated a total of Rs 404.91 billion in the National Small Savings Fund during the first five months of this fiscal.

Moving on to news from oil & gas sector. GAIL (India) share price finished the trading day on a strong note (up 2.1%) after it was reported that the company has commenced supply of Piped Natural Gas (PNG) in 255 houses in NALCO Nagar, Bhubaneswar.

The commencement of the 1st phase of supply of PNG in 255 houses was earlier expected to be completed by March 2018. The company took up the project on a war-footing and commenced supply of natural gas almost six months before the deadline.

The company also plans to provide PNG connections soon to adjacent Jeevan Bima Colony and Maitri Vihar colony covering a total of 1,000 houses. Assessment is also being carried out for PNG supply to leading hotels, hospitals and industrials units of the city.

Oil & Gas stocks finished the day on a positive note with ONGC share price and Chennai Petroleum share price leading the gains.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers