X

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

MEMBER'S LOGINX

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

Euro fears trigger another collapse
Thu, 17 Nov Closing

Renewed concerns in the Euro zone led indices in the Indian stock market to collapse during the closing stages of the day and thus end the day deep in the red. While BSE-Sensex lost in the region of around 310 points (down 1.9%), NSE-Nifty edged lower by around 100 points. BSE Mid Cap and BSE Small Cap indices also witnessed losses as both of them shed around 1.3% each. On the Sensex, only three stocks out of a total of 30 managed to close the day in the positive.

While most Asian indices closed in the red today, Europe too is witnessing a negative trend currently. The rupee was trading at Rs 50.1 to the dollar at the time of writing.

The Euro zone tsunami just doesn't show any signs of coming under control. This time it was Spain who came in the firing line. As per reports, the 10-year Spanish bond yield hit a Euro era high of 6.63%, leading to concerns that the debt crisis in Euro zone could be spreading. However, this was still not enough to cajole Germany into printing more money and buying bonds on a greater scale. And until this 400 pound elephant in the room refrains from taking any action, the downward spiral for the biggest economic bloc in the world is likely to continue. For Indian investors however, this could present a good opportunity to invest in good quality stocks at attractive valuations from a long term perspective.

Pharma major Lupin closed lower on the bourses today. The stock was down around 2%. The decline came despite the news that the company's Japanese subsidiary has entered into an agreement with I'rom Holdings Company, an integrated Japanese Healthcare Provider, to acquire 100% of outstanding shares of the latter's subsidiary, I'Rom Pharma Company (IP). It should be noted that IP is a specialty injectables company based in Tokyo and recorded sales of JPY 5.4 bn in FY11. This deal has come at a good time for Lupin as the market for generic injectables is all set to grow in Japan in the coming years. Lupin is one of the most improved pharma companies in India and has taken huge steps in recent years in expanding its therapy portfolio.

While engineering major BGR Energy may not be having the best of times on the bourses, it is definitely performing a lot better on the order bagging front. As per reports, the company has been awarded an EPC contract for setting up a 600 MW coal based thermal power plant by TRN Energy, New Delhi. The value of the order stands at Rs 17 bn. The project has received forest and environmental clearances and the coal linkage has also been tied up. The stock of BGR Energy closed marginally higher today.

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 "Euro fears trigger another collapse". Click here!

  

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Oct 19, 2017 (Close)

MARKET STATS