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?  

Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

4 Reasons Why Sensex Ended 568 Points Higher Today
Fri, 26 Mar Closing | Yash Vora, TM Team

Indian share markets witnessed positive trading activity throughout the day today and ended on a strong note.

After witnessing two consecutive days of sell-off, benchmark indices rebounded sharply today with Sensex jumping more than 750 points in intraday trade and Nifty rising above 14,550.

At the closing bell, the BSE Sensex stood higher by 568 points (up 1.2%).

Meanwhile, the NSE Nifty closed higher by 182 points (up 1.3%).

Bajaj Finserv and Tata Steel were among the top gainers today.

UPL and Power Grid, on the other hand, were among the top losers today.

The SGX Nifty was trading at 14,610, up by 179 points, at the time of writing.

The BSE Mid Cap index and the BSE Small Cap index ended up by 1.7% and 1.1%, respectively.

On the sectoral front, gains were largely seen in the metal sector, FMCG sector and telecom sector.

Market participants were tracking shares of JSW Steel and 3M India as they hit their respective 52-week highs today.

--- Advertisement ---
FREE Event on Equitymaster's New Project

On May 17, we are holding a FREE event to reveal Equitymaster's Great Indian Wealth Project.

At this event, we'll reveal the details of your first stock for a potential Rs 7 crore in long-term wealth.

Seats for this event are filling up fast.

Since there are limited seats, we urge you to register at the earliest.

Click here for free sign-up
------------------------------

Asian share markets ended higher today, tracking positive global cues.

The Shanghai Composite stood higher by 1.6%, while the Nikkei ended up by 1.5%. The Hang Seng ended higher by 1.6%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices with Dow Futures trading up by 87 points (up 0.3%).

The rupee is trading at 72.58 against the US$.

Gold prices are trading down by 0.1% at Rs 44,625 per 10 grams. Meanwhile, silver prices for the latest contract on MCX are trading up by 0.4% at Rs 65,129 per kg.

Speaking of silver, India's #1 trader, Vijay Bhambwani talks about why you should get excited about making profits in silver from Tesla's entry in India, in one of his videos for Fast Profits Daily.

In the video below, Vijay shares the reasons why he is so bullish on the white metal and why you should be too.

Tune in here to find out more:

Speaking of the ongoing volatility in Indian stock markets, have a look at the two charts below, in the order they have been placed:

Near Term Volatility in Sensex Compensated by Long Term Gains

The year-on-year change in the Sensex was hardly predictable but someone who stayed invested multiplied every lakh nearly 14 times.

As per Co-head of Research at Equitymaster, Tanushree Banerjee, 2021 could be one of the best years for individual investors.

In one of her videos, Tanushree discusses the best safe assets for 2021. You can watch the video here: Safest Assets in 2021 are Not What You Think...

Learn: How to Potentially Accumulate Rs 7 Crore in Wealth Over the Long-term

Here are Top 4 Factors Why the Stock Market Were Up Today:

Positive Macro Data in the US: Better than expected US GDP data and a decline in the unemployment claims boosted stock market sentiment.

The number of Americans filing new claims for unemployment benefits dropped to a one-year low last week as economic activity rebounds after weather-related disruptions in February.

Gross domestic product increased at a 4.3% annualized rate, the Commerce Department said in its third estimate of fourth-quarter GDP growth.

Positive Global Cues: Major global markets rose today and the positive sentiment spilled to the Indian bourses too.

Asian stocks recovered from a three-month low, as investors focused more on optimism about the global economic recovery than rising tensions between the West and China.

Covid-19 Vaccination Picks Pace: With vaccination picking pace, market sentiment got a boost. Market participants took cues from this development and the indices witnessed buying interest.

Sectoral Gains: Market participants bought shares across the board after the recent correction bought valuations down. Auto, banking, financials, telecom, FMCG and IT - all indices witnessed strong gains today.

We will keep you updated on how these factors develop in the coming days and what effect they have on Indian stock markets. Stay tuned!

--- Advertisement ---
How to Earn a Fortune in Gold, the Smart Way

Gold is on 'the verge of a decadal run' says Vijay Bhambwani, India's #1 Trader and Editor of Fast Profits Daily at Equitymaster.

He says gold has the potential to generate staggering gains in the coming years...And those who are betting on gold right now will hit the jackpot.

But wait.

While gold is an attractive investment destination, there's a very specific way to play this opportunity...

A way that ensures you rake in maximum profit and perhaps hit the jackpot...while minimizing potential pitfalls. Thankfully, Vijay - India's #1 Trader - can guide you step-by-step in the upcoming gold rush and help hit the jackpot just at the right time.

Sure, you don't want to be an average trader. That's not how you make a fortune.

Here's how you can get Vijay's guidance...
------------------------------

In news from the realty sector...

Real estate developers have urged the government of Maharashtra to extend the prevailing stamp duty rebate that expires on March 31, 2021 by a year, saying that the move had improved homebuyer sentiment and increased property registrations.

In a letter presented to Balasaheb Thorat, Revenue Minister, Maharashtra Government, CREDAI MCHI, a leading real estate body with over 1,800 member developers, said that the state government must extend the prevailing stamp duty rebate by 12 months until March 31, 2022.

It said that the move had "substantially improved homebuyer sentiments and property registrations, led to higher job creation and tax collections for the state. It has created a positive cascading effect enabling the industry to take a lead in the revival of Maharashtra's economy."

The industry body maintained that an elongated time frame to avail the reduced stamp duty charges will ensure the sustenance of the sales momentum that has witnessed record breaking property registrations in the past six months.

Note that on August 26, the Maharashtra government had announced to cut stamp duty on housing units from 5% to 2% until 31 December, 2020.

From January 1 to 31 March, 2021, the stamp duty charges were reduced to 3%.

On the occasion of Women's Day, the Maharashtra government announced a 1% cut on stamp duty charges if the transfer of house property or registration of sale deed is in the name of a woman.

Mumbai, the financial capital of India, witnessed a rise in property registration numbers in February, on the back of the above move.

In February 2021, properties worth Rs 117 billion were sold in Mumbai, up by 34% year-on-year (YoY), according to data shared by Propstack.

How this development pans out and what effect does it have on the real estate sector going forward remains to be seen.

Meanwhile, we will keep you updated on all the news from this space. Stay tuned.

Moving on to stock specific news...

Kalyan Jewellers was among the top buzzing stocks today as the company made a weak stock market debut today.

The stock of Kalyan Jewellers got listed at Rs 73.90 on BSE, a 15% discount to its issue price of Rs 87.

On NSE, the scrip debuted at Rs 73.95, down 15%.

The Rs 11.7 billion issue, which was sold between March 16 and 18, was subscribed 2.61 times.

Kalyan Jewellers is among the largest jewellery companies in India. The jeweller is engaged into designing, manufacturing and selling a variety of gold, studded as well as other products. It has 107 showrooms in all across 21 states. Besides, the company operates 30 showrooms in West Asia.

The company commands 1.8% market share in the jewellery market, while its share in the organised jewellery segment stands at 5.9%.

Stay tuned for more updates from this space.

In news from the IPO space...

The public issue of causal dining restaurants chain Barbeque Nation Hospitality was subscribed 4.2 times the time of closing stock market hours today - the final day of bidding.

The portion set aside for qualified institutional buyers witnessed a subscription of 3.6% and that of non-institutional investors received 24% bids.

The retail investors seem to be bullish on the last public issue in the month of March as their part was subscribed 11.9 times, while employees have put in 87% bids against their reserved portion.

The company has fixed a price band of Rs 498-500 per share for its initial share sale.

The initial public offer (IPO) comprises a fresh issue of shares worth Rs 1.8 billion and an offer-for-sale (OFS) of up to 54,57,470 equity shares.

At the upper end of the price band, the IPO is expected to fetch Rs 4.5 billion.

The company has already raised Rs 1.5 billion through a pre-IPO placement from Xponentia Capital and Jubilant Foodworks.

Proceeds from the issue will be utilised to fund the company's capital expenditure for expansion and opening of new restaurants besides, prepayment or repayment of certain borrowings and expenses related to general corporate purposes.

As of December 2020, Barbeque Nation Hospitality operates 147 outlets across India and six outlets across three countries - UAE, Oman and Malaysia.

Speaking of IPOs, note that four companies - Anupam Rasayan India, Craftsman Automation, Laxmi Organic Industries and Kalyan Jewellers will made their stock market debut this week.

In the first quarter of 2021, 16 companies launched public issues. Barbeque Nation Hospitality is the 17th public offer in Q1CY21.

With this, the total fund raising in 2021 through primary market, so far, stands at Rs 188 billion.

How the IPO of Barbeque Nation performs remains to be seen.

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 "4 Reasons Why Sensex Ended 568 Points Higher Today". Click here!

  

Stock Market Updates

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SGX Nifty Trades Flat, Interglobe Aviation QIP, Rising Premium for Non-Life Insurers, and Buzzing Stocks Today (Today's Market)

May 12, 2021 Pre-Open

Top cues to track in today's stock market session.

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.

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

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks(Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

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 12, 2021 (Close)

MARKET STATS