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 Marginally Lower; IndusInd Bank Gains 4%
Mon, 26 Oct 09:30 am | Yash Vora, TM Team

Asian stock markets are trading on a mixed note today as surging coronavirus cases in Europe and the United states threaten the economic outlook, even as growth in China provides some support to Asia.

The Nikkei is trading up by 0.1% and the Shanghai Composite is trading down by 0.7%.

In US, Wall Street indices ended marginally higher on Friday, with investors keeping a close eye on negotiations on a US stimulus package that would ease the economic shock caused by the coronavirus pandemic.

The Dow Jones Industrial Average ended down by 0.1%, while the Nasdaq gained 0.4%. The S&P 500 gained 12 points, or 0.3%.

--- Advertisement ---
New FREE Guide on Big Opportunity in Defence

Tanushree Banerjee, the co-head of research, recently released er latest guide:

The Explosive Rs.4 Lakh Crore Opportunity: How to Tap into India's Surging Defence Sector for Potentially Huge Profits

And she has agreed to make it available for free for a limited time.

If you've not claimed your free copy, then do so now. It might not remain free for long. One more thing...

Tanushree has also discovered one stock from defence sector... which she believes has the potential to multiply invested money 10-times in the long run.

She will reveal more details about this stock at her upcoming online special event.

Click Here to Download the Guide & Block Your Seat Now. It's Free.
------------------------------

Back home, Indian share markets have opened the day on a negative note.

Market participants are tracking Angel Broking share price and SBI Life Insurance share price as these companies are slated to announce their financial results for the September quarter today.

The BSE Sensex is trading down by 103 points. The NSE Nifty is trading lower by 28 points.

IndusInd Bank is among the top gainers today. Reliance Industries, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened down by 0.1%. The BSE Small Cap index is trading up by 0.3%.

Sectoral indices are trading mixed with stocks in the energy sector and metal sector witnessing selling pressure. FMCG stocks, on the other hand, are trading in green.

The rupee is trading at 73.78 against the US$.

Gold prices are trading down by 0.3% at Rs 50,690 per 10 grams.

New: 5 Pandemic-Proof Smallcaps You Should Know About...

Speaking of the current stock market scenario, note that the Sensex is trading at a price to earnings multiple of 30 times, a valuation that would make conventional value investors shake their heads in disgust.

In her latest video, lead smallcap analyst at Equitymaster, Richa Agarwal shares the fallacies in this broad and sweeping narrative and an interesting approach to playing the markets for healthy returns.

Tune in to the video to find out more:

In news from the mutual funds space, the Karnataka High Court on Saturday, ruled that Franklin Templeton Mutual Fund will need to obtain prior consent of the unit holders before winding up six debt fund schemes.

Earlier this year in April, Franklin Templeton Mutual Fund had shut six debt schemes in India amounting to about Rs 280 billion, citing lack of market liquidity and redemption pressures arising from the Covid-19 pandemic.

--- Advertisement ---
[EXCLUSIVE] Invitation - "Mega Panel Discussion on Asset Classes of Equity, Debt & Gold"

Date: 27th Nov Time: 6pm Venue: Your Computer

Even though the Covid - 19 Pandemic shows no signs of mercy across the planet, the deadly year it got along is nearing its end.

But what the pandemic did to the markets will definitely have a lingering effect.

So, the question that arises is - What Next?

As an investor, it only makes sense to have all the required information about the current state of the economy and what the experts think the future has in store

Join Nilesh, Chirag & Pankaj as they address some of the most crucial questions on performance of different asset classes and their year-end outlook.

Click here to Register FREE for this EXCLUSIVE Webinar
[No Payments | No Credit Card | Absolutely FREE]
[Yes! I want to attend this Exclusive Webinar]

Yes, also send me your financial planning newsletter, Quantum Direct, free of charge.
------------------------------

"We hold and declare that the decision of the Franklin Templeton Trustee Services to wind up six schemes cannot be implemented unless the consent of the unit-holders is obtained," the division bench of Chief Justice Abhay S Oka and Justice Ashok S Kinagi said, while hearing a petition challenging Franklin Templeton's decision to wind up its schemes.

Responding to the court's order, Franklin Templeton said the court had upheld the decision taken by its trustees to wind up the schemes, but had ordered that approval of the unit holders is required.

Reports also state that Franklin Templeton may turn to the Supreme Court over certain aspects of the Karnataka High Court order.

How the above developments pan out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Speaking of mutual funds, last month on September 11, the capital markets regulator issued a circular directing multi-cap schemes to deploy at least 25% each in large-, mid-, and small-caps. At present, such schemes manage Rs 1.47 trillion in assets.

Assuming every fund rebalances, the circular is expected to trigger a move of around Rs 280 billion from largecaps to smallcaps.

Richa Agarwal, lead smallcap analyst at Equitymaster, believes this move would be net positive for select smallcap stocks. As per Richa, there could be a speculative rally across smallcaps.

Here's what she wrote about it in a recent edition of the Profit Hunter:

  • It would be myopic and imprudent to bet on any smallcap in the hope of a regulation driven rally.

    That said, you must invest in smallcaps selectively with long-term horizon in mind.

    Here's why...
  • You see, despite the rally in smallcaps since March, there is still a huge valuation gap between smallcaps and Sensex.

    The ratio of smallcaps to Sensex stands at 0.37 now, as compared to long-term average of 0.44 times.

    This means certain smallcaps will witness a significant rebound, irrespective of regulations.

Richa believes this could be a once in a decade opportunity to get rich from select smallcaps.

Moving on to stock specific news...

Kotak Mahindra Bank is among the top buzzing stocks today.

As per a leading financial daily, Kotak Mahindra Bank is exploring a potential takeover of smaller rival IndusInd Bank.

The promoters of Kotak Bank and their counterparts in IndusInd Bank have engaged in discussions for the merger via a share swap.

Reports state that if such a deal is clinched, it could significantly expand Kotak Mahindra's presence in the Indian banking sector, particularly in the retail segment.

However, the promoter of IndusInd Bank, IndusInd International Holdings (IIHL), completely denied the said rumour.

IIHL is promoted by the Hindujas and broad base of other successful NRIs from the overseas Indian diaspora.

Kotak Mahindra Bank is also scheduled to announce its September quarter earnings today.

Report state that the private lender is expected to see around 20% year-on-year decline in its Q2FY21 profit due to a potential spike in provisions.

Kotak Mahindra Bank share price has opened the day down by 0.6%.

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 Opens Marginally Lower; IndusInd Bank Gains 4%". Click here!

  

Stock Market Updates

SHRIRAM CITY UNION Share Price Down by 6%; BSE 500 Index Down 1.5% (Today's Market)

Nov 25, 2020 03:34 PM

SHRIRAM CITY UNION share price is trading down by 6% and its current market price is Rs 1,133. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 8.2%) and RELIANCE CAPITAL (up 7.6%). The top losers are SHRIRAM CITY UNION (down 5.8%) and L&T INFOTECH (down 6.4%).

SUNTECK REALTY Share Price Down by 5%; BSE REALTY Index Down 2.3% (Today's Market)

Nov 25, 2020 03:30 PM

SUNTECK REALTY share price is trading down by 5% and its current market price is Rs 376. The BSE REALTY is down by 2.3%. The top gainers in the BSE REALTY Index is PHOENIX MILL (up 1.4%). The top losers is SUNTECK REALTY (down 5.3%).

MRF. Share Price Down by 5%; BSE 500 Index Down 1.5% (Today's Market)

Nov 25, 2020 03:30 PM

MRF. share price is trading down by 5% and its current market price is Rs 80,699. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are RELIANCE CAPITAL (up 7.9%) and INDIAN OVERSEAS BANK (up 7.5%). The top losers are MRF. (down 5.2%) and L&T INFOTECH (down 7.7%).

BOMBAY BURMAH Share Price Down by 5%; BSE 500 Index Down 1.5% (Today's Market)

Nov 25, 2020 03:30 PM

BOMBAY BURMAH share price is trading down by 5% and its current market price is Rs 1,360. The BSE 500 is down by 1.5%. The top gainers in the BSE 500 Index are RELIANCE CAPITAL (up 7.9%) and INDIAN OVERSEAS BANK (up 7.5%). The top losers are BOMBAY BURMAH (down 5.1%) and MRF. (down 5.2%).

TRENT Share Price Down by 5%; BSE 500 Index Down 1.2% (Today's Market)

Nov 25, 2020 02:48 PM

TRENT share price is trading down by 5% and its current market price is Rs 775. The BSE 500 is down by 1.2%. The top gainers in the BSE 500 Index are SHILPA MEDICARE (up 9.2%) and INDIAN OVERSEAS BANK (up 8.9%). The top losers are TRENT (down 5.1%) and L&T INFOTECH (down 6.6%).

Sensex Corrects Over 600 Points; Private Bank & IT Stocks Under Pressure (Today's Market)

Nov 25, 2020 02:30 pm

The BSE Sensex falls over 600 points while NSE Nifty dips below 12,900 mark.

View More Indian Share Market News

Most Popular

This Diwali Consider Richa's #1 Stock Pick for 2021(Profit Hunter)

Nov 13, 2020

Why I admire the approach that Richa uses to zero in on stocks with huge upside potential.

Don't Let Brokerages Fool You into Buying HUL & Nestle. The Real Money is in These Stocks Right Now...(Views On News)

Nov 12, 2020

Rahul Shah discusses why he preferred a little known stock over Nestle Ltd and how he was proven right.

How to Short Sell the Right Way(Fast Profits Daily)

Nov 13, 2020

In this video, I'll show you how to short sell effectively.

Stocks that Could Shine More than Gold After Diwali(Profit Hunter)

Nov 17, 2020

If the markets become volatile over the next few months, do this.

US Elections: Won a Battle, Now the War(The Honest Truth)

Nov 13, 2020

Ajit Dayal on the urgent need to fix the disparity between the rich and the poor in the US.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Nov 25, 2020 (Close)

MARKET STATS