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?  

Markets close the week 1% up
Fri, 28 Dec Closing

The Indian stock markets started the day on a positive note and continued to trade positive for the entire session today. Towards the final hour before closing, markets moved steadily higher and finally closed the day in the green. Finally the indices closed well in the positive. The BSE-Sensex closed positive, higher by around 121 points (up 0.6%). The NSE-Nifty also closed higher by around 38 points (up 0.7%). The smaller indices also had a positive day on the bourses. The BSE Mid Cap index closed 0.8% higher and the BSE Small Cap 0.3% higher. Oil and gas and IT stocks saw a bulk of the gains today. Pharma stocks closed lower.

As regards global markets, Asian indices had a positive outing today. European indices however opened the day on a negative note, however most markets were shut today. The rupee was trading at Rs 54.86 to the dollar at the time of writing.

The power sector is still facing a huge fuel shortage and this is a crisis that still needs to be addressed. In light of this situation, the Coal Ministry has opined that diversion of a portion of e-auction coal to power producers will affect the fuel supply to other sectors, including steel and cement. 5 Million Tonnes per Annum (MTPA) of approximately 40-45 MTPA of e-auction pertained to mines having rail connectivity. Under e-auction, coal is sold at spot market price. Around 10% of the total coal produced by public sector entity Coal India (CIL) is sold through e-auction. Earlier, CIL had offered a certain portion of its coal meant for e-auction to power companies in order to ease the coal shortage that caused frequent disruptions in the generation of electricity. But, keeping in mind the shortfall in meeting power sector demands and the obligation by CIL to honour its commitments, the issue of reducing the quantity sold under this route was discussed.

Asset quality issues, especially in the mid corporate segments have plagued most banks. State Bank of India especially has seen its net non-performing assets grow to 3.96% of its mid-corporate book in September compared to 2.83% previously. Plus demand from large corporates has also been subdued on account of high interest rates and an absence in investment activity on account of the uncertain economic environment. Rather than project finance, the bank is focusing more on working capital lending. SBI has thus turned its focus to retail loans, primarily auto and housing loans in order to grow its asset book. According to the management, home loan sanctions have increased to Rs 1.5 bn a day from Rs 650 mn in September. This has been on account of lower lending rates compared to competitors, reduced processing time, removal of prepayment penalties, and transfer of loans from other institutions at attractive rates. With a 13.6% growth year-on-year in the September quarter, the management expects it to grow at 25-30% by the end of FY13. Auto loans have also seen a robust 28% year-on-year growth in 1HFY13 which was led by the new seven year loan scheme and lower interest rates. SBI is now one of the latest players in the home loan as well as the auto segment now and is looking at these segments for incremental growth.

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 "Markets close the week 1% up". Click here!


Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 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.

Make Rs 5,000 Per Day Trading the Market(Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project(Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...


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


Mar 2, 2021 03:36 PM