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 Up Over 500 Points; IndusInd Bank, HDFC Bank & Hero MotoCorp Surge 5%
Thu, 28 May 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a strong note, in line with global peers that rallied as optimism over the reopening of economies buoyed investor sentiment.

The BSE Sensex is presently trading up by 548 points, while the NSE Nifty is trading up by 156 points.

The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 1.3%.

Sectoral indices are trading mixed with stocks in the capital goods sector and banking sector witnessing buying interest, while IT stocks are witnessing selling pressure.

The rupee is trading at 75.71 against the US$.

Gold prices are currently trading down by 0.1% at Rs 46,540.

--- Advertisement ---
Happy Independence Day (Gift Below)

Are you taking advantage of our Independence Day Sale?

Right now, we're offering our readers a chance to Claim 1 FREE YEAR of Hidden Treasure - our most trusted smallcap service.

This means you can Get Our Best Smallcap Picks - FREE for A Year!

Yes, this might be your best chance to Build Potentially LIFE-CHANGING WEALTH.

But the Offer Goes Away in Less Than 72 Hours.

See How to Claim Your FREE YEAR Right Now.
------------------------------

Market participants are tracking Ceat share price, Lupin share price, and TVS Motor Company share price as these companies are scheduled to announce their March quarter results (Q4FY20) later today.

You can read our recently released Q4FY20 results of other companies here: Lakshmi MachineBirla CorporationBata IndiaColgateHoneywell AutomationHawkins CookersBayer CropscienceJSW SteelDCB Bank.

In news from the automobile sector, Eicher Motors share price is in focus today.

Shares of the company are trading higher for the third straight day today, after the company announced stock split plan to make the stock more affordable for small retail investors and increase liquidity.

In an exchange filing on Monday, the company said "the board of directors of the company is scheduled to meet on June 12, 2020, to consider and approve sub-division/split of the equity shares of the face value of Rs 10 each of the Company in such manner as may be determined by the board."

The board will also consider and approve audited standalone and consolidated financial statements for the four-quarter and financial year ended March 31, 2020.

Shares of Eicher Motors are presently trading up by 4%.

Moving on to news from the economic space, S&P Global Ratings has forecasted Indian economy to contract 5% in the current fiscal as the lockdown imposed to contain Covid-19 pandemic has curtailed economic activity severely.

In a statement, S&P said, "the Covid-19 outbreak in India and two months of lockdown - longer in some areas - have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year. Economic activity will face ongoing disruption over the next year as the country transitions to a post-Covid-19 world."

The rating agency said India has limited room to maneuver on policy support. The Reserve Bank of India (RBI) cut policy rates by 40 basis points in May, meaning the repo rate is 115 basis points lower since February.

--- Advertisement ---
3 Tech Stocks to Boost Your Wealth

Technology. That's where the growth is.

That's why we believe, it's time to load up on 3 specific tech stocks.

We've spent years to vet these stocks.

And our research says... these 3 cutting edge tech stocks could potentially create a wave of Indian millionaires.

Click here for the full details...
------------------------------

It further added that despite the cuts, India banks have been unwilling to extend credit. Small and mid-size enterprises continue to face restricted access to credit markets despite some policy measures aimed at easing financing for the sector.

S&P said the government's stimulus package, with a headline amount of 10% of GDP, has about 1.2% of direct stimulus measures, which is low relative to countries with similar economic impacts from the pandemic.

The remaining 8.8% of the package includes liquidity support measures and credit guarantees that will not directly support growth.

Earlier this week, rating agencies Fitch and CRISIL too had projected a 5% contraction for the Indian economy.

Note that the Indian economy was grappling with its own issues and COVID-19 has made matters worse.

The industry was facing demand problems, due to which business houses were reluctant to undertake capex plans. Unemployment was at its peak and exports were consistently down for several months.

India's GDP growth has been on a consistent decline after peaking out at 7.9% in Q4 of FY18 to 4.7% in Q3 of FY20. This is evident in the chart below:

The numbers are expected to have fallen further in Q4FY20 due to Covid 19.

Interestingly, there's a silver lining in all this. India can become an outsourcing hub. The global slowdown will mean that countries like the US, will be looking out for low-cost outsourcing destinations like India.

Further, a lot of global buyers have already shifted to India to source ceramics, home appliances, fashion, and lifestyle goods.

Meanwhile, as per the reports, around a thousand foreign manufacturers want to relocate their production to India, a country they see as an alternative to China.

Here's an excerpt from one of the articles, co-head of Research Tanushree Banerjee wrote on Indian economic recovery:

  • It's also a fact that India's importance in the global supply chain has never looked better. PM Modi himself referred to that.

    Therefore, utilising the stimulus package to tighten India's presence in the global supply chain will be the fastest way to move up the Swoosh index. Any delay or disregard would cost India dearly.

    True that Apple, Samsung and several smartphone manufacturers are already considering an expansion of their Indian capacities.

    But the land, labour, liquidity, and legal reforms cannot remain on paper if the Make in India dreams are to be realised.

    I expect to gather more cues about India's prospects on the Swoosh index over coming months.

Watch this space as Tanushree tracks these Rebirth of India megatrends closely.

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 "Sensex Up Over 500 Points; IndusInd Bank, HDFC Bank & Hero MotoCorp Surge 5%". Click here!

  

Stock Market Updates

VAIBHAV GLOBAL Share Price Down by 5%; BSE 500 Index Down 1.0% (Today's Market)

Aug 14, 2020 03:34 PM

VAIBHAV GLOBAL share price is trading down by 5% and its current market price is Rs 1,843. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index are LUPIN (up 9.2%) and HEIDELBERG CEMENT (up 8.4%). The top losers are VAIBHAV GLOBAL (down 5.1%) and EICHER MOTOR (down 7.2%).

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.5% (Today's Market)

Aug 14, 2020 03:26 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 133. The BSE AUTO is down by 2.5%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.6%) and ASHOK LEYLAND (up 1.0%). The top losers are TATA MOTORS (down 5.2%) and EICHER MOTOR (down 7.2%).

VARROC ENGINEERING Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 14, 2020 03:26 PM

VARROC ENGINEERING share price is trading down by 5% and its current market price is Rs 231. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are NBCC (INDIA) LTD (up 3.1%) and SIEMENS (up 2.8%). The top losers is VARROC ENGINEERING (down 5.4%)..

BOSCH Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Aug 14, 2020 03:18 PM

BOSCH share price is trading down by 5% and its current market price is Rs 14,400. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 9.6%) and LUPIN (up 9.2%). The top losers are BOSCH (down 5.2%) and EICHER MOTOR (down 6.9%).

BAJAJ ELECTRICALS at 52 Week High; BSE 500 Index Down 1.0 % (Today's Market)

Aug 14, 2020 03:06 PM

BAJAJ ELECTRICALS share price has hit a 52-week high. It is presently trading at Rs 470. BSE 500 Index is down by 1.0% at 14,874. Within the BSE 500, BAJAJ ELECTRICALS (up 7.0%) and REDINGTON (up 15.4%) are among the top gainers, while top losers are EICHER MOTOR and DISH TV.

Sensex Corrects Over 550 Points; Banking Stocks Under Pressure (Today's Market)

Aug 14, 2020 02:30 pm

Indian share markets slip into the red on signs of escalating US-China tensions.

View More Indian Share Market News

Most Popular

Large Opportunities Are Coming Our Way

Aug 5, 2020

Kenneth Andrade tells us why stocks will bounce back strongly and what he's bullish on.

Is It Time to Book Profits in Gold and Silver?(Fast Profits Daily)

Aug 10, 2020

Gold and silver have delivered phenomenal returns this year. Is it time to take some money of the table?

Forget the Nifty and Sensex for the Next 1 or 2 Years and Focus on These Stocks(Profit Hunter)

Aug 6, 2020

Stocks from the essential small cap space are likely to be outperformers over the next 1 or 2 years.

3 Stocks to Ride the Big Rebound in Smallcaps(Profit Hunter)

Aug 11, 2020

The rebound ratio suggests that smallcaps are set for big gains but this time it will be limited to a few stocks. Make sure you choose wisely.

Governance: For the Country and Your Portfolio(The Honest Truth)

Aug 14, 2020

Ajit Dayal on the need of socially responsible governance.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 14, 2020 (Close)

MARKET STATS