Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


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

Sensex Continues Momentum; TCS Gets a New Chairman
Thu, 10 Nov 11:30 am

After opening the day on a positive note, the Indian share markets registered further gains have continued to trade in the green. Sectoral indices are trading on a positive note with stocks in the metal sector and telecom sector witnessing maximum buying interest.

The BSE Sensex is trading up 444 points (up 1.6%) and the NSE Nifty is trading up 152 points (up 1.8%). The BSE Mid Cap index is trading up by 2.3%, while the BSE Small Cap index is trading up by 2.7%. The rupee is trading at 66.44 to the US$.

It was a volatile ride for Indian Indices yesterday. While the markets traded in the red during the entire day, they staged a mild recovery in the afternoon session after Donald Trump was elected as the 45th President of the United Stated of America (USA). Apart from this, the announcement by Mr Modi to ban Rs 500 and Rs 1,000 notes weighed on many sectors in the stock markets and kept Indian indices under pressure.

Donald Trump's win would deal a big blow to US trade deals with Asia. His stance on trade, immigration and foreign policy is already making markets jittery. While economies like China may suffer the most, Indian exports will not remain untouched.

That said, there are businesses in India that will continue to do well. And that would create shareholder wealth in the long term when invested in at right levels. So our message to all value investors is this: Focus on the business fundamentals, and use short term corrections due to global economic events to add such businesses to your portfolio.

In fact, we are keeping a close watch and will use any crash opportunity such as above to recommend great businesses that look good but do not allow action due to valuation concerns. Meanwhile, you take care at your end to stay clear of profit killers, irrespective of how tempting the valuations look.

While we are on the topic, Apurva Sheth, editor at Daily Profit Hunter, has recently penned an article that stated how one should trade in these volatile times. As per Apurva, successful trading is all about three M's- Mind, Method, and Money. You can read his article Market Crash: How To Trade After The US Elections to know more on this.

In another news update, Tata Consultancy Services (TCS) has informed the Bombay Stock Exchange (BSE) that it had received a notice from its parent Tata Sons nominating Ishaat Hussain as Chairman of the company, immediately replacing Cyrus Mistry.

As per the Economic Times, Tata Sons has issued a notice calling for an extraordinary general body meeting (EGM) to remove Mistry as a director of the company. The EGM will have to be held in 45 days.

The above development comes after the ouster of Cyrus Mistry as the chairman of Tata Sons.

Vivek Kaul, in one of his recent articles, points out one basic lesson in investing from the Tata-Mistry spat. As per him, the fall in market capitalisation of Tata group of companies is not as much as is being made out to be. Also, one of the recent editions of The 5 Minute WrapUp offers some of the lessons from the Tata Group slowdown. While doing so, it explains why every stock from even the best business groups are not the best long term bets.

Owing to the above saga, shares of Tata Group companies have witnessed selling pressure in the past few days. ValuePro editor, Radhika has written a series about which Tata Group companies are investment worthy and which are not in ValuePro Contenders.

Presently the share price of TCS is trading higher by 1.6% on the BSE.

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 Continues Momentum; TCS Gets a New Chairman". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Nov 23, 2017 (Close)