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?  

Banking stocks lead the downfall
Fri, 11 Nov 11:30 am

Indian stock market indices are trading weak over the last two hours of trade on back of heavy selling activity witnessed across index heavyweights. Banking and Metal stocks witnessed maximum selling pressure, while Pharma and FMCG stocks witnessed maximum buying interest.

The BSE-Sensex is down by 209 points, while the NSE-Nifty is down up 63 points. BSE Mid Cap index and the BSE Small Cap index are down by 1.28% and 1.58% respectively. The rupee is trading at 50.16 to the US dollar.

Aluminium stocks are trading weak led by Hindalco and Nalco (National Aluminium Company Limited). Hindalco Industries Limited has announced results for the quarter ended September 2011. The company has reported an increase of 7% YoY in net sales on back of higher volumes and better realisations and an increase of 15.9% YoY in net profits respectively. EBITDA margin contracts to 10.7% during 2QFY12 from 11.9% in 2QFY11. The margins were severely impacted by the cost escalations and constrained bauxite and coal availability during the monsoon. Other income grows by a staggering 114.5%. Net sales and net profit for the half year ended September 2011 increased by 11.5% YoY and 18.4% YoY respectively. Alumina production was down by 4% this quarter due to constrained supplies and poor quality of bauxite. Unprecedented rains and flood situation in September disrupted coal supplies to the Hirakud captive power plant (CPP), as a result of which there was a temporary slowing down of production in the smelter.

Steel stocks are trading in the red led by Jindal saw and Tata steel. Tata Steel has announced results for the quarter ended September 2011. On a consolidated basis, the company has reported an increase of 15.5% YoY in net sales and 89% YoY decline in net profits. Tata Steel Group, like most others, has been hit by rising input costs and slow demand in its overseas operations. However, its domestic operations are relatively insulated from input cost hikes since it has access to captive raw materials like iron ore and coal. Operating profit was down by 17% YoY. Total costs rose 20% YoY, while raw material expenses climbed 15% YoY in the quarter. The depreciation of the Indian currency against the dollar affected Tata Steel's exposure to foreign currency convertible bonds by Rs 1.5 bn. The company had a net debt of USD $9.2 bn at the end of September.

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 "Banking stocks lead the downfall". Click here!

  

Stock Market Updates

Sensex Rises 477 Points; Trading Resumes on NSE (Today's Market)

Feb 24, 2021 Special Update

The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Feb 24, 2021 02:54 PM

SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Up 0.5% (Today's Market)

Feb 24, 2021 02:36 PM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).

ZENSAR TECHNOLOGIES at 52 Week High; BSE 500 Index Up 1.0% (Today's Market)

Feb 24, 2021 01:02 PM

ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.

Sensex Trades Over 200 Points Higher; Dow Futures Down by 103 Points (Today's Market)

Feb 24, 2021 12:30 pm

BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.

OMAXE Share Price Down by 6%; BSE REALTY Index Up 0.5% (Today's Market)

Feb 24, 2021 12:22 PM

OMAXE share price is trading down by 6% and its current market price is Rs 72. The BSE REALTY is up by 0.5%. The top gainers in the BSE REALTY Index are PRESTIGE ESTATES (up 1.9%) and DLF (up 1.9%). The top losers is OMAXE (down 5.8%)..

View More Indian Share Market News

Most Popular

Intraday Trading for a Living(Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years(Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021(Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla(Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Feb 24, 2021 (Close)

MARKET STATS