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 Opens above 41,000-Mark; Automobile and IT Stocks Lead
Wed, 27 Nov 09:30 am | Monish Vora, TM Team

Asian share markets are higher today as Chinese and Hong Kong shares gain. The Nikkei 225 is up 0.4% while the Hang Seng is up 0.1%. The Shanghai Composite is trading higher by 0.2%.

Back home, India share markets have opened the day on a positive note. The BSE Sensex is trading up by 218 points while the NSE Nifty is trading up by 61 points. The BSE Mid Cap index and the BSE Small Cap index have opened the day up by 0.4%.

Barring telecom sector, all sectoral indices have opened on a positive note with stocks in the IT sector, auto sector, and metal sector witnessing maximum buying interest.

The rupee is trading at Rs 71.40 against the US$.

In latest developments from the IPO space, the Rs 4.1 billion public issue of private sector lender CSB Bank continued to receive overwhelming response from investors of all categories on November 26, the last day of bidding.

As per NSE data, the IPO was oversubscribed by 86.9 times as it received bids for 1,004 million equity shares against its issue size of 11.5 million shares.

The retail investors continued to pour in money since the day one as their reserved portion, was oversubscribed 44.4 times.

The portion set aside for non-institutional investors was subscribed 164.7 times and that of qualified institutional buyers by 62.2 times.

CSB Bank is one of the oldest private sector banks in India with a history of over 98 years. The bank has a strong base in Kerala along with significant presence in Tamil Nadu, Karnataka, and Maharashtra.

It offers a wide range of products and services to an overall customer base of 1.3 million as on September 30, 2019, with particular focus on SME, Retail, and NRI customers.

--- Advertisement ---
2 High Growth Stocks for a Potential Millionaire Portfolio

Our co-head of research, Tanushree Banerjee, has uncovered these two high-growth companies.

The first company is using the same model which Apple used to become a global giant.

This asset light model of growth could enable this company to generate excellent shareholder returns... just like Apple's.

The second company is already a world leader in its domain. But the big catalyst of growth is yet to come. A catalyst of $1.4 trillion.

Both these companies have got a long runway of growth ahead. And Tanushree is very confident, their stocks could offer great returns to investors in the coming years.

Tanushree revealed the details of these two stocks at her recently concluded special event - The Great Indian Wealth Project.

You had registered for this event but missed it for some reason.

You can still get all the details about these stocks by watching the special replay of this event.

Get the Details of 2 High Growth Stocks for a Potential Millionaire Portfolio
------------------------------

The bank delivers its products and services through multiple channels, including 412 branches and 290 ATMs spread across the country as on September 30, 2019, and various alternate channels such as micro ATMs, debit cards, internet banking, mobile banking, point of sale services and UPI.

It will be interesting to watch how this IPO opens on the listing day.

Note that, the year 2019 hasn't seen much activity in the IPO market. Since the start of the year, there have been just 13 IPOs on the BSE main board.

Even the ones that hit the primary markets were mostly small to mid-sized IPOs. And no mega IPOs.

The total amount raised through IPOs has shrunk to Rs 107.2 billion in 2019, a third of the Rs 309.6 billion raised in the previous year.

Very few companies come out with IPOs during bearish market conditions. So, when the IPO market is sluggish, you must take that as an indicator of market sentiment and liquidity conditions.

However, it is interesting to note that despite the tepid market conditions, most of the companies gave positive listing day gains.

In fact, if you had invested in each one of them and held them till now, your gains would have been even better.

The chart below shows the top five performing IPOs of 2019:

Top 5 Performing IPOs of 2019

Top 5 Performing IPOs of 2019

As you can see in the chart, the best IPOs of 2019 have delivered fantastic returns. In fact, 10 of the 13 companies have delivered positive returns.

So, unlike bull markets wherein selling shareholders do their best to squeeze the highest price, bear markets often offer fantastic opportunities to spot great companies and get onboard early on.

Watch Now: 3 Little-known Stocks We are Super Bullish On

Speaking of IPOs, this one IPO has been the hot topic in the world over. I am talking about the Saudi Aramco IPO.

There's a lot going on this front.

Saudi Aramco's much heralded and oft-delayed initial public offering is going ahead, albeit in a scaled down version of the original plan by Saudi Crown Prince Mohammed bin Salman.

There'll be no grand opening on the London or New York stock exchanges. The sale is restricted to the Saudi bourse and won't even by marketed to most international money managers.

Investors will be able to purchase just 1.5% of the world's most profitable company, about half what was previously considered. Even so, the share sale in early December will come close to, or even surpass, the record for the biggest IPO in history.

So, what does all that mean for crude oil investors and traders? And why is important?

At a time when Saudis are not sharing many details with their wall street investment bankers, Vijay Bhambwani in his latest video, raises a few questions that the mainstream media is not covering, and not even crude oil traders are asking...

Tune in to find out...

Moving on to news from the engineering sector, the government has collected Rs 7.3 billion from disinvestment of 10% stake in its railway engineering company RITES through the offer for sale (OFS) route.

On 22 November, the government had proposed selling 10% stake in the company to non-retail investors only and on 25 November to retail investors and non-retail investors, with an option to additionally sell up to 12.5 million equity shares, through OFS.

The floor price for the OFS was set at Rs 293.50 per share.

Note that the government has set a disinvestment target of Rs 1.05 trillion for the current financial year. Last week, the cabinet had also approved the privatization of BPCL.

The government will sell its entire 53.3% stake in the company to a strategic buyer along with transferring management control.

The Cabinet had also announced selling its 30.8% shareholding in Container Corporation of India to a strategic buyer along with handing over the management control.

Moreover, the centre will also dilute its 63.8% stake in Shipping Corporation of India.

How the above disinvestment plans pan out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

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 above 41,000-Mark; Automobile and IT Stocks Lead". Click here!

  

Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 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.

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.

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 26, 2021 (Close)

MARKET STATS