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?  

Markets will remain closed on 30th November, 2020 on account of Guru Nanak Jayanti.

Sensex Opens Marginally Higher; IndusInd Bank & HCL Tech Top Gainers
Fri, 30 Oct 09:30 am | Yash Vora, TM Team

Asian stock markets are trading on a negative note today. The Nikkei is trading lower by 0.8% and the Hang Seng is trading down by 0.1%.

In US, Wall Street indices rose on Thursday after fresh data showed jobless claims dropped and the economy expanded sharply in the third quarter.

Sentiment also got a boost after President Donald Trump hinted at plans for a large additional fiscal stimulus after the election.

The Dow Jones Industrial Average ended up by 0.5%, snapping a four-session losing streak, while the Nasdaq gained 1.6%.

--- Advertisement ---
India Rushes to Prepare for a 2-Front War

A 2-front war is here.

China and Pakistan seem to be acting in sync... when it comes to attacking India.

Both countries have increased their military activity in the border region like never before.

And that's exactly what India is rushing to prepare for.

In fact, the Indian government has already allocated Rs 90,048 crores for 2020-21 itself.

Plus, an additional Rs 4 lakh crore would be spent over next 5-7 years.

This money will secure our borders.  And...it will potentially trigger a mega growth opportunity for a select few Indian defence companies.

With this flood of money flowing their way... their stock prices could potentially shoot up to record highs in the coming years.

You can learn everything about this massive opportunity on November 30 at our Explosive Profits Summit.

At this summit, you will also get the details of what we believe is India #1 defence stock.

It's a potential 10x opportunity in the long term.

Click here to sign-up instantly here. It's free.
------------------------------

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

Market participants are tracking Dixon Technologies share price and DLF share price as these companies are slated to announce their financial results for the September quarter today.

The BSE Sensex is trading up by 122 points. The NSE Nifty is trading up by 46 points.

Nestle India is among the top gainers today. Power Grid, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 1.1%. The BSE Small Cap index is trading up by 0.8%.

All sectoral indices are trading in green with stocks in the realty sector and energy sector witnessing most of the buying interest.

The rupee is trading at 74.25 against the US$.

Gold prices are trading up by 0.2% at Rs 50,414 per 10 grams.

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

Gold traded in a tight range on Thursday after falling as much as 2% in the previous session as caution crept in ahead of the US elections, with bullion also contending with the dollar as a refuge for investors hedging risks from mounting Covid-19 cases.

December gold futures on MCX rose by Rs 120 to touch the Rs 50,615 mark at the strongest level recorded during the session.

Silver futures declined to as low as Rs 59,400, down Rs 738 or 1.2% from its previous close.

In recent weeks, gold has remained in a narrow range, after losing momentum since hitting record high of Rs 56,200 per 10 gram in August.

Yet, gold prices are up about 30% so far this year in Indian markets. Most of these gains are seen as gold is seen as an inflation hedge amid unprecedented pandemic-driven stimulus across the world.

Speaking of the precious yellow metal, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Even with the recent volatility in prices, gold remains among the best performing commodities this year to combat the fallout from the coronavirus pandemic.

To know more about gold, visit our YouTube Playlist on gold investing.

--- Advertisement ---
REVEALED: How India's Best Investors Are Planning For 2021 and Beyond...

Are you an active investor looking to grow and protect your wealth in 2021 and beyond?

Then you must Register for The Equitymaster Conference Right Now.

Because for the first time ever, this conference is going fully virtual.

That means you can listen to the biggest investment minds of this generation - right from the safety and comfort of your home.

So don't wait...

Grab Your Conference Ticket Right Now
------------------------------

Moving on to stock specific news...

Bank of Baroda is among the top buzzing stocks today.

State-owned Bank of Baroda on Thursday reported a standalone net profit of Rs 16.8 billion for the July-September quarter (Q2FY21) on the back of lower provisions.

Profit after tax (PAT) grew 128% year-on-year (YoY) from Rs 7.4 billion.

In the previous quarter of the current fiscal (Q1FY21), the lender had incurred a loss worth Rs 8.6 billion.

On a consolidated basis, profit was Rs 17.7 billion for Q2FY21, as against a net loss of Rs 6.8 billion in the June quarter.

Net interest income (NII) came in at Rs 75.1 billion for the quarter under review, rising marginally from Rs 70.3 billion in Q2FY20.

Provisions set aside in the September quarter declined sharply to Rs 30 billion on a sequential basis from Rs 56.3 billion set aside in Q1FY21. Of these, provisions for NPA stood at Rs 22.8 billion.

Loan accounts worth Rs 859 billion are under moratorium as of September 30, 2020. Loan accounts worth Rs 140.2 billion were classified at the end of Q2FY21.

Bank of Baroda share price has opened the day up by 0.6%.

In other news, market participants are also tracking IndusInd Bank share price. The private lender is scheduled to announce its September quarter earnings later today.

Reports state that IndusInd Bank is likely to report an up to 80% fall in September quarter net profit as the bank is seen increasing provisions to shore up provision coverage ratio.

Net interest income (NII) is seen falling in single digits while the net interest margin (NIM) is seen flattish.

Note that earlier this week, it was reported that Kotak Mahindra Bank is exploring a potential takeover of 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.

Speaking of the Kotak-IndusInd Bank merger, Co-head of Research at Equitymaster, Tanushree Banerjee has decluttered the math behind the proposed merger, in her latest video.

In the video, Tanushree explains why the proposed Kotak-IndusInd merger has merit and urgency.

Which bunch of shareholders will benefit from this deal? Should you buy Kotak Mahindra Bank or IndusInd Bank?

Tune in to the video to find out more:

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 Higher; IndusInd Bank & HCL Tech Top Gainers". Click here!

  

Stock Market Updates

TATA ELXSI Share Price Up by 6%; BSE IT Index Down 0.8% (Today's Market)

Nov 27, 2020 03:34 PM

TATA ELXSI share price is trading up by 6% and its current market price is Rs 1,610. The BSE IT is down by 0.8%. The top gainers in the BSE IT Index are TATA ELXSI (up 6.3%) and L&T INFOTECH (up 5.4%). The top losers are PERSISTENT SYSTEMS (down 0.6%) and MPHASIS (down 0.9%).

NESCO Share Price Up by 5%; BSE REALTY Index Up 2.5% (Today's Market)

Nov 27, 2020 03:34 PM

NESCO share price is trading up by 5% and its current market price is Rs 547. The BSE REALTY is up by 2.5%. The top gainers in the BSE REALTY Index are NESCO (up 5.5%) and INDIABULLS REAL EST (up 6.5%). The top losers are OMAXE (down 0.4%) and PRESTIGE ESTATES (down 3.2%).

J.B.CHEMICALS Share Price Up by 6%; BSE HEALTHCARE Index Up 1.0% (Today's Market)

Nov 27, 2020 03:34 PM

J.B.CHEMICALS share price is trading up by 6% and its current market price is Rs 1,006. The BSE HEALTHCARE is up by 1.0%. The top gainers in the BSE HEALTHCARE Index are J.B.CHEMICALS (up 5.6%) and PROCTER & GAMBLE HEALTH (up 8.8%). The top losers are SUN PHARMA (down 0.1%) and PFIZER (down 0.3%).

V GUARD INDUSTRIES Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Nov 27, 2020 03:32 PM

V GUARD INDUSTRIES share price is trading up by 5% and its current market price is Rs 186. The BSE CAPITAL GOODS is up by 0.3%. The top gainers in the BSE CAPITAL GOODS Index are V GUARD INDUSTRIES (up 5.1%) and THERMAX (up 6.8%). The top losers are GRAPHITE INDIA (down 0.1%) and SIEMENS (down 0.2%).

RATNAMANI METALS Share Price Up by 5%; BSE METAL Index Down 0.1% (Today's Market)

Nov 27, 2020 03:32 PM

RATNAMANI METALS share price is trading up by 5% and its current market price is Rs 1,725. The BSE METAL is down by 0.1%. The top gainers in the BSE METAL Index is RATNAMANI METALS (up 5.3%). The top losers are NMDC (down 0.1%) and HINDALCO (down 1.7%).

Sensex Trades Marginally Lower; Dow Futures Up by 13 Points (Today's Market)

Nov 27, 2020 12:30 pm

BSE Sensex is trading down by 44 points, while the NSE Nifty is trading flat.

View More Indian Share Market News

Most Popular

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.

Not Infosys or Wipro. India's Next Wealth Creators Could Be Drone Stocks(Profit Hunter)

Nov 25, 2020

India's drones directorate signals the next big defence tech multibaggers.

How the New Margins Will Impact You(Fast Profits Daily)

Nov 25, 2020

The new rules on margins will come into effect from 1st December. Are you ready?

How to Build the Best Trading System(Fast Profits Daily)

Nov 20, 2020

In this video, I'll show you how to make the best trading system.

An Eraser and Some Pencils(The Honest Truth)

Nov 17, 2020

Ajit Dayal on the road ahead for the world after covid.

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 27, 2020 (Close)

MARKET STATS