Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks


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

Indian Indices Fall, RBI Holds Interest Rates and Top Stocks in Action
Thu, 7 Dec Pre-Open | Prasheel Vartak, TM Team

On Wednesday, share markets in India opened in red and ended on a weak note.

The BSE Sensex closed lower by 205 points to end at 32,597 while the broader NSE Nifty ended the day higher by 4 points to close at 10,234.

Among BSE sectoral indices, metals index fell the most by 2%, followed by PSU stocks at 1.3%. SBI and Sun Pharma, were among the top losers.

Top Stocks in Action Today

IOC share price is likely to be 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.

Reliance Communications share price will be in focus today as, two major Chinese lenders plan to support a move by China Development Bank (CDB) to put the company into insolvency court as they seek to recover about US$ 2 billion in debt.

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.

RBI Keeps Interest Rates Unchanged

The Reserve Bank of India (RBI) kept interest rates unchanged in its monetary policy review today.

The six-member Monetary Policy Committee (MPC) of the RBI kept the repo rate unchanged at 6% in its fifth bi-monthly policy review of the fiscal year.

As per the RBI statement, five of the six MPC members voted in favor of a status quo.

With this, the policy rate stands at a seven-year low. The MPC committee had last cut the repo rate by 25 basis points in August this year.

As for inflation, the RBI expects it to stay in the range of 4.3% to 4.7% on December and March quarters (H2FY18).

The RBI in its statement stated that the GST Council in its last meeting has brought several retail goods and services to lower tax brackets, which should translate into lower retail prices, going forward.

The RBI kept its projections for FY18 real Gross Value Added (GVA) growth at 6.7%, citing that the risks are evenly balanced.

Note that GVA, which excludes product taxes and subsidies, has recovered from 5.6% in June 2017 quarter to 6.1% in September 2017 quarter.

Global Markets Shed Gains

Global stock markets edged lower as US tech stocks ended their rallies. Market participants worldwide digested the differences in the new US Tax Reform Bill. The bill passed on Saturday by Republican senators included a last-minute change retaining the corporate alternative minimum tax, or AMT, which had initially been removed.

That put Senate Republicans on a collision course with Republicans in the US House of Representatives, whose own tax bill repealed the corporate AMT and who are already calling for the tax to be eliminated in the final legislation.

IPO Buzz

The Rs 6.5-billion initial public offer of Future Supply Chain Solutions opened for subscription yesterday, with a price band of Rs 660-664 per share.

The issue comprises an offer for sale of up to 7.8 million equity shares by Griffin Partners and up to 2 million shares by the promoter, Future Enterprises.

In all, 2.93 million shares were allocated to 16 anchor investors. The list of anchor investors consisted of prominent names like L&T Mutual Fund Trustee Ltd, Reliance Capital Trustee Company and HDFC Trustee Company, among others.

Meanwhile, IPO of Shalby Ltd, Ahmedabad-based multi-specialty hospital chain, was subscribed 25% on the second day of the three-day bidding on Wednesday.

The IPO comprises a fresh issue of equity shares aggregating up to Rs 4.8 billion and an offer for sale of up to 1 million equity shares by the selling shareholder.

The Shalby IPO closes today.

So, are these companies leaving enough money on the table for investors? We've released our IPO notes for the above IPOs. We have released our IPO note on both the IPOs. You can access the same in our IPO section.

IPOs are all the rage in the share markets these days. With new companies listing by the day, all with promises of superior returns.

Download this FREE report now and discover How to Get Rich with IPOs. This guide will show you how to safely profit from the 2017 IPO rush.

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 "Indian Indices Fall, RBI Holds Interest Rates and Top Stocks in Action". Click here!


Stock Market Updates

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 01:12 PM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,188 (up 4.1%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 4.1%) and TORRENT POWER (up 0.3%). The top losers include BHEL (down 0.1%) and JSW ENERGY (down 0.2%).

Sensex Trades Marginally Higher, Dow Futures Up by 22 Points (Today's Market)

May 7, 2021 12:30 pm

BSE Sensex is trading up by 180 points, while the NSE Nifty is trading up by 70 points.

Sensex Gains 400 Points, Nifty Tops 14,850; Banking & Metal Stocks Rally (Today's Market)

May 7, 2021 09:30 am

Indian share markets open on a positive note. The BSE Sensex opened up by 405 points, while the Nifty is trading higher by 121 points.

TATA STEEL at All Time High; BSE METAL Index Up 2.5% (Today's Market)

May 7, 2021 09:34 AM

TATA STEEL share price has hit an all time high at Rs 1,147 (up 3.3%). The BSE METAL Index is up by 2.5%. Among the top gainers in the BSE METAL Index today are TATA STEEL (up 3.3%) and JSW STEEL (up 2.0%).

ADANI TRANSMISSION at All Time High; BSE POWER Index Up 0.9% (Today's Market)

May 7, 2021 09:34 AM

ADANI TRANSMISSION share price has hit an all time high at Rs 1,175 (up 2.7%). The BSE POWER Index is up by 0.9%. Among the top gainers in the BSE POWER Index today are ADANI TRANSMISSION (up 2.7%) and SIEMENS (up 0.2%). The top losers include POWER GRID (down 0.5%) and THERMAX (down 0.7%).

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

May 7, 2021 09:34 AM

ERIS LIFESCIENCES share price has hit a 52-week high. It is presently trading at Rs 650. BSE 500 Index is up by 0.7% at 20,055. Within the BSE 500, ERIS LIFESCIENCES (up 7.0%) and IRB INFRA (up 5.3%) are among the top gainers, while top losers are VAIBHAV GLOBAL and SRF.

View More Indian Share Market News

Most Popular

Time to Buy Smallcaps?(Fast Profits Daily)

Apr 30, 2021

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

The Next Smallcap Winners(Profit Hunter)

Apr 30, 2021

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

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?

This Fund Manager Has Taken the World by Storm. Will You Invest With Her?(Profit Hunter)

Apr 26, 2021

Should you invest with this Rockstar fund manager who has outperformed in a big way?


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


May 7, 2021 (Close)