The Indian markets continued to trade in a range bound manner during the post noon trading session. Stocks from the IT and healthcare spaces are amongst the top performers at the moment while those from the oil and gas and banking sectors spaces are amongst the top underperformers.
The Sensex today is trading higher by about 40 points (up 0.2%), while NSE-Nifty is trading higher by about 11 points (up 0.2%). Stocks from the midcap and small spaces are also trading firm with the BSE Mid Cap and the BSE Small Cap indices up by 0.4% each. The rupee is trading at 55.1 to the US dollar.
Stocks of auto companies are trading firm led by Escorts, Tata Motors and Bajaj Auto. As per a leading financial daily, in a bid to rejuvenate its domestic passenger car division Tata Motors will invest more than Rs 75 bn over the next five years. A lion's share of over 70% of the investment is earmarked for new product launches. As sliding sales and erosion in market share continue to plague Tata Motors in the domestic passenger car market, the company is gearing to enter the mini SUV segment and revamp its Nano launch. The company is expected to launch new products over the next 12-18 months onwards.
Stocks of public sector banks are trading firm led by Central Bank, Union Bank and Andhra Bank. A leading business daily has reported that PSU banks State Bank of India, Punjab National Bank and Oriental Bank of Commerce have sought the finance ministry's intervention for power sector loans (to private sector companies) of the tune about Rs 2.3 trillion. It is believed that the ministry has assured the banks of help by taking the matters to other ministries such as coal, petroleum and environment. Given that defaults of such a large magnitude would have an impact on the country's growth figures, the government would be looking at removing the hurdles and addressing the concerned delays to ensure there are no large-scale defaults come due to power firms. Apart from the power generation companies not earning revenues on the invested amounts, what is adding to their woes are the delays in payments from the distribution companies. Not to mention lack of fuel supplies to run their plants.
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...
Indian share markets witnessed huge buying interest during the extended closing hours today and ended their day on a strong note.
The BSE Sensex is trading up by 477 points, while the NSE Nifty is trading up by 135 points.
SIEMENS share price has hit an all time high at Rs 1,922 (up 1.7%). The BSE CAPITAL GOODS Index is up by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.7%) and HONEYWELL AUTOMATION (up 1.9%). The top losers include HAVELLS INDIA (down 0.2%) and GRAPHITE INDIA (down 0.2%).
MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,315. The BSE 500 is up by 0.5%. The top gainers in the BSE 500 Index are INDIAN OVERSEAS BANK (up 10.0%) and BANK OF MAHARASHTRA (up 10.0%). The top losers are MUTHOOT FINANCE (down 5.8%) and HIMADRI SPECIALITY CHEMICAL (down 5.4%).
ZENSAR TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 282. BSE 500 Index is up by 0.5% at 19,684. Within the BSE 500, ZENSAR TECHNOLOGIES (up 5.3%) and NAVA BHARAT VENTURES (up 11.2%) are among the top gainers, while top losers are MAGMA FINCORP and RELIANCE POWER.
BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 113 points.
View More Indian Share Market NewsIn this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.
This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.
A look at what India's top equity mutual funds bought and sold in January 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
Equitymaster requests your view! Post a comment on "IT, pharma stocks lead gains today". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!