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 Ends Day in Green; IT Stocks Top Gainers
Thu, 16 Nov Closing | Prasheel Vartak, TM Team

After opening the day in green, share markets in India witnessed buying activity throughout the day and ended the day on a strong note. Gains were seen across most sectors with stocks in the IT sector and stocks in the power sector, leading the gains.

At the closing bell, the BSE Sensex stood higher by 346 points (up 1.1%) and the NSE Nifty closed up by 97 points (up 1%). The BSE Mid Cap index ended the day up by 1%, while the BSE Small Cap index ended the day up by 1.1%.

Asian stock markets finished in green. As of the most recent closing prices, the Hang Seng was up by 0.6% and the Shanghai Composite was flat. The Nikkei 225 was up by 1.5%. European markets too were trading in green. The FTSE 100 was flat. The DAX was higher by 0.7% while the CAC 40 was up by 0.7%.

The rupee was trading at Rs 65.25 against the US$ in the afternoon session. Oil prices were trading at US$ 55.25 at the time of writing.

In the news from the auto sector. According a leading financial daily, state-owned Energy Efficiency Services Ltd (EESL) will float another tender for 10,000 e- cars in March-April next year in line with the government's vision of having all electric passenger cars by 2030.

This would indeed come as a boost to India's electric car program. EESL said that it will float another tender of around 10,000 electric vehicles during March-April, much before it expects to complete the current bidding process in June.

EESL gave out a similar contract in September to Tata Motors Ltd and Mahindra and Mahindra Ltd, kicking off India's electric vehicle procurement programme.

These vehicles will be used to replace petrol and diesel cars used by the government and its agencies, which have around half-a-million cars, of which about a third are leased.

Mahindra lost out to rival Tata Motors Ltd in a government contract for 500 electric vehicles but later said it would match the lowest bid of Rs 10.16 lakh per vehicle made by Tata Motors as it wanted to be part of the government's electric mobility mission.

Currently, electric vehicle sales are low in India, rising 37.5% to 22,000 units in the year ended 31 March 2016 from 16,000 in 2014-15. Only 2,000 of these were cars and other four-wheelers, according to automobile lobby group Society of Indian Automobile Manufacturers (Siam).

The government wants to see 6 million electric and hybrid vehicles on Indian roads by 2020 under the National Electric Mobility Mission Plan 2020.

Is India Prepared to Meet the Ambitious Battery Car Target?

The government is targeting to have all cars propelled by electric engine by 2030. The target is more daunting than in many advanced countries.

According to the industry, the 2030 target would require eight to ten times the global stock of such vehicles. India would need to sell more than 10 million electric cars in 2030, compared to 5,000 electric vehicles India had on the road in 2016.

As you can see from the chart below, India is barely visible compared to other developed countries when it comes to battery cars.

Just Released: Multibagger Stocks Guide
(2018 Edition)

In this report, we reveal four proven strategies to picking multibagger stocks.

Well over a million copies of this report have already been claimed over the years.

Go ahead, grab your copy today. It's Free.

NO-SPAM PLEDGE - We will NEVER rent, sell, or give away your e-mail address to anyone for any reason. You can unsubscribe from The 5 Minute WrapUp with a few clicks. Please read our Privacy Policy & Terms Of Use.

As an article in Business Standard suggests, such a big jump in scale for the auto industry in 13 years seems difficult. The basic infrastructure is missing. There are not enough charging stations. For this massive shift, the charging stations will need to be as ubiquitous as petrol pumps.

Another issue is the price of the lithium ion battery, which constitutes 30% to 40% of the cost of the car. For this plan to succeed, the price of the battery needs to come down.

The auto industry is already facing regulatory headwinds. The shift from BS-IV emission norms to BS-VI has been two years ahead of schedule without an intermediate stage. The government, if it is serious about such ambitious targets, should offer the necessary infrastructure support and do its bit for a smooth transition.

In other news, ratings agency Crisil Ltd's share price was in focus today after the company said that it will acquire data analytics firm Pragmatix Services Pvt. Ltd for Rs 560 million.

Pragmatix provides software products and services in business intelligence, analytics and consultancy services and was incorporated in 2010 by banking professionals. Pragmatix has successfully built and deployed solutions across the risk, sales, and finance domains in India, Middle East and North America. It has 110 employees as on date.

Both the parties expect to close the transaction during the first quarter of 2018.

CRISIL said Pragmatix had revenue of Rs 172 billion in FY17, up 20% from the previous financial year.

The acquisition will enable Crisil to leverage Pragmatix's technology platform and deep domain expertise to enhance its business intelligence, analytics and risk management offerings for financial sector clients in India and globally.

Pragmatix's banking expertise and proprietary platform will enable Crisil to offer big data analytics and broaden its solutions in the financial services space.

Crisil share price closed the day up by 1.1%.

And here's a note from Profit Hunter:

The Nifty IT Index is up 2% with all its constituents trading in the green. KPIT (+5%), INFY (+4%), and Mindtree (+4%) are the top gainers in the index.

INFY has been trading in a broad range of 900 - 1,020 since October 2016. The 1,020 level acted as a strong resistance while 900 level acted as a strong support for the stock.

Last time we reviewed the stock it cracked 13% intraday after Vishal Sikka's resigned as MD & CEO. The selling pressure continued for the next three day. The stock hit a 52-week low of 860, breaking its important resistance level of 900. But it did not sustain down for long and recovered immediately to trade above the 900 level.

Today, the stock rallied 4% with healthy volumes and is now approaching the upper end of the range (1,020).

So can we see the stock finding resistance from the 1,020 level yet again? Let's wait and watch.

INFY Rallies 4% for the Day
INFY Rallies 4% for the Day 

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 Ends Day in Green; IT Stocks Top Gainers". Click here!

  

Stock Market Updates

MRPL at 52 Week High; BSE 500 Index Up 2.0% (Today's Market)

Mar 1, 2021 03:34 PM

MRPL share price has hit a 52-week high. It is presently trading at Rs 45. BSE 500 Index is up by 1.7% at 19,713. Within the BSE 500, MRPL (up 8.3%) and RCF (up 20.0%) are among the top gainers, while top losers are HIMADRI SPECIALITY CHEMICAL and BHARTI AIRTEL.

KEC INTERNATIONAL Share Price Up by 5%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Mar 1, 2021 03:26 PM

KEC INTERNATIONAL share price is trading up by 5% and its current market price is Rs 454. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.2%) and BHARAT ELECTRONICS (up 6.5%). The top losers are SCHAEFFLER INDIA (down 0.2%) and HINDUSTAN AERO. (down 0.3%).

GUJARAT ALKALIES Share Price Up by 10%; BSE 500 Index Up 1.6% (Today's Market)

Mar 1, 2021 03:24 PM

GUJARAT ALKALIES share price is trading up by 10% and its current market price is Rs 346. The BSE 500 is up by 1.6%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 10.2%) and DEEPAK NITRITE (up 14.5%). The top losers are COLGATE and HDFC AMC .

DEEPAK NITRITE Share Price Up by 13%; BSE 500 Index Up 1.4% (Today's Market)

Mar 1, 2021 03:10 PM

DEEPAK NITRITE share price is trading up by 13% and its current market price is Rs 1,553. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are DEEPAK NITRITE (up 12.8%) and JUST DIAL (up 14.2%). The top losers are BAJAJ HOLDINGS & INVESTMENT and CADILA HEALTHCARE .

HIMADRI SPECIALITY CHEMICAL Share Price Down by 11%; BSE 500 Index Up 1.4% (Today's Market)

Mar 1, 2021 03:08 PM

HIMADRI SPECIALITY CHEMICAL share price is trading down by 11% and its current market price is Rs 55. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are RCF (up 20.0%) and MMTC (up 20.0%). The top losers is HIMADRI SPECIALITY CHEMICAL (down 11.3%).

Sensex Trades Over 300 Points Higher; Dow Futures Up by 204 Points (Today's Market)

Mar 1, 2021 12:30 pm

BSE Sensex is trading up by 378 points, while the NSE Nifty is trading up by 165 points.

View More Indian Share Market News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps(Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

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.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

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


Mar 1, 2021 (Close)

MARKET STATS