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 Trades in Red; Metal Stocks Lead Losses
Wed, 6 Dec 01:30 pm | Prasheel Vartak, TM Team

After opening the day flat, share markets in India witnessed choppy trades and are presently trading below the dotted line. All sectoral indices are trading in red, with stocks in the metal sector and stocks in the PSU sector leading the losses.

The BSE Sensex is down up by 145 points (down 0.4%) and the NSE Nifty is trading down by 53 points (down 0.5%). Meanwhile, the BSE Mid Cap index is trading down by 0.6%, while the BSE Small Cap index is trading down by 0.2%. The rupee is trading at 64.46 to the US$.

In news from the GST space. In an effort to help revive exports, the government announced a series of steps to revive exports amid disruptions to supply chains arising from the implementation of the goods and services tax (GST).

Fresh export incentives to labour intensive sectors and services that will cost the exchequer Rs 84.5 billion annually were announced as part of a mid-term review of foreign trade policy for 2015-2020.

Also announced were a series of steps to improve the ease of doing business for exporters by cutting red tape and automating more processes.

The government plans to pursue a two-pronged strategy. In the short run, it is offering sops to exporters, while in the long run, it is looking to improve the competitiveness of Indian exports by raising productivity of exporters, especially in the supply chain through the implementation of GST and improving the ease of doing business.

These measures are expected to benefit sectors including leather, readymade garments, handcrafted carpets, agriculture, telecom and hotels and restaurants.

Sectors That May Benefit the Most from GST

The Goods and Service Tax (GST) is one of the key reforms that will bring about a structural change in the economy. The implementation of the same is bound to bring more companies under the new tax regime, thus providing a level playing field to organized players forming part of sectors having a high proportion of the unorganized segment.

The foreign trade policy announced in 2015 had proposed to double Indian exports of goods and services to US$ 900 billion by 2019-20, a steep target given that exports have grown marginally in the last three years.

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.

Exporters are facing a severe liquidity crunch because of delayed refunds in the new GST regime. The review of the foreign trade policy, initially scheduled to be released on 1 July, was delayed to compensate for any impact of GST on exporters.

After studying these and other finer aspects of GST, our colleague Vivek Kaul, has penned his views on what could go right and wrong. Get a balanced perspective on the entire GST saga from Vivek. The report is titled The Good, the Sad and the Terrible (GST). Claim your own copy of his special report now.

Moving on to news from stocks in the oil & gas sector. Indian Oil Company (IOC) share price is in focus today after the nation's biggest oil company said it is evaluating setting up a Rs 200 billion coke gasification project at its Paradip refinery in Odisha.

The PSU aims to convert the lowest-cost fossil fuel into gas that can be used to generate power or make petrochemicals.

IOC said that it has been evaluating the project even before the Supreme Court banned the use of petroleum coke and furnace oil in areas around the Indian capital, which is battling alarming levels of air pollution that is risking human health.

The company said that a 2 million tonnes a year coke gasification unit would cost Rs 150 billion to 200 billion, and added that pet coke produced in Paradip, Chennai and Haldia refinery can be used in the new plant to generate syngas.

The syngas so generated can be used for power generation or further value addition done to produce chemicals used to making plastics and other product.

IOC already has plans to build a petrochemical complex adjacent to its recently commissioned 15 million tonnes a year Paradip refinery.

India is the world's biggest consumer of petroleum coke, which is a by-produce of oil refining process and is considered a dirtier alternative to coal. It is composed mainly of carbon and emits 11% more greenhouse gases than coal. Also emitted on burning are several times more sulphur dioxide, which causes lung diseases and acid rain.

It is widely used by cement factories, dyeing units, paper mills, brick kilns and ceramics business. The Supreme Court ban, which covers Rajasthan, Uttar Pradesh and Haryana, came into effect from November 1.

At the time of writing, IOC share price was trading down by 0.9%.

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 Trades in Red; Metal Stocks Lead Losses". Click here!

  

Stock Market Updates

AUROBINDO PHARMA at All Time High; BSE HEALTHCARE Index Up 0.7% (Today's Market)

May 11, 2021 09:51 AM

AUROBINDO PHARMA share price has hit an all time high at Rs 1,064 (up 1.4%). The BSE HEALTHCARE Index is up by 0.7%. Among the top gainers in the BSE HEALTHCARE Index today are AUROBINDO PHARMA (up 1.4%) and PFIZER (up 1.4%). The top losers include PIRAMAL ENTERPRISES and CAPLIN POINT (down 0.2%).

Sensex Falls 400 Points on Weak Global Cues; Kotak Mahindra Bank & HDFC Top Losers (Today's Market)

May 11, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 412 points, while the Nifty is trading lower by 124 points.

MARICO at All Time High; BSE FMCG Index Up 0.1% (Today's Market)

May 11, 2021 09:49 AM

MARICO share price has hit an all time high at Rs 487 (up 2.8%). The BSE FMCG Index is up by 0.1%. Among the top gainers in the BSE FMCG Index today are MARICO (up 2.8%) and P&G HYGIENE (up 0.7%). The top losers include DABUR (down 0.1%) and KRBL (down 0.1%).

GRINDWELL NORTON at All Time High; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

May 11, 2021 09:49 AM

GRINDWELL NORTON share price has hit an all time high at Rs 1,159 (up 3.4%). The BSE CAPITAL GOODS Index is down by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are GRINDWELL NORTON (up 3.4%) and HONEYWELL AUTOMATION (up 0.2%). The top losers include SOLAR INDUSTRIES (down 0.2%) and HAVELLS INDIA (down 0.6%).

SUZLON ENERGY Share Price Up by 5%; BSE OIL & GAS Index Up 1.3% (Today's Market)

May 11, 2021 09:42 AM

SUZLON ENERGY share price is trading up by 5% and its current market price is Rs 6. The BSE OIL & GAS is up by 1.3%. The top gainers in the BSE OIL & GAS Index is SUZLON ENERGY (up 5.4%). The top losers is ONGC .

BHEL Share Price Up by 5%; BSE CAPITAL GOODS Index Down 0.6% (Today's Market)

May 11, 2021 09:27 AM

BHEL share price is trading up by 5% and its current market price is Rs 70. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index is BHEL (up 5.3%). The top losers are HONEYWELL AUTOMATION and SCHAEFFLER INDIA (down 0.1%).

View More Indian Share Market News

Most Popular

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Sell in May and Go Away?(Fast Profits Daily)

Apr 28, 2021

Does the concept of selling stocks in the month of May, work in the Indian market?

Are the Stock Markets Deaf to Covid Agony?(Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

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


May 11, 2021 01:48 PM

MARKET STATS