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?  

Indian Share Markets Open Flat; Cipla & ONGC Top Gainers
Wed, 9 Jun 09:30 am

Asian stock markets are trading on a mixed note today with shares in Japan and Hong Kong fluctuating, where surging commodity costs drove factory-gate inflation to its highest level since 2008.

The Hang Seng is up 0.1% while the Nikkei is trading down by 0.3%. The Shanghai Composite is trading up by 0.4%.

In US stock markets, Wall Street indices struggled to eke out closing gains as a lack of clear market catalysts kept institutional investors on the sidelines.

The Dow Jones Industrial Average fell 0.1% while the Nasdaq ended higher by 0.3%.

Back home, Indian share markets have opened on a flat note, following the trend on SGX Nifty.

A total of 37 companies, including GAIL, Bata India, Bajaj Healthcare, and Star Cement are scheduled to release their quarterly earnings today.

The BSE Sensex is trading up by 25 points. Meanwhile, the NSE Nifty is trading higher by 3 points.

ONGC is among the top gainers today. UltraTech Cement, on the other hand, is among the top losers today.

The BSE Mid Cap index and the BSE Small Cap index have opened higher by 0.3% and 0.4%, respectively.

Sectoral indices are trading mixed with stocks in the IT sector and power sector witnessing buying interest.

Banking stocks, on the other hand, are trading in red.

--- Advertisement ---
Like a Gold Mine for Investors?

Our co-head of research, Tanushree Banerjee, believes this is like a gold mine for investors.

Here's more...

Let's look at some of the most successful companies in the world today...

– Volkswagen Group, which owns Audi, Bentley, and
– Lamborgini
– Toyota
– Apple
– Samsung
– BMW
– Siemens
– General Electric
– Dell
– Boeing

What is common between them?

Well, the answer to this question is the key to finding multibagger stocks.

Tanushree revealed it all during our special event, The Great Indian Wealth Project.

If you missed this event for some reason, then you can watch the special replay of this event.

Click Here to Watch the Replay...
------------------------------

Shares of CRISIL and Cipla hit their 52-week highs today.

The rupee is trading at 72.91 against the US$.

Gold prices are trading up by 0.1% at Rs 49,176 per 10 grams.

Meanwhile, silver prices are trading up by 0.2% at Rs 71,390 per kg.

Speaking of the current stock market scenario, note that the BSE Smallcap index has rebounded more than 150% since the March 2020 lows.

Despite the index being up 1.5 times, Richa Agarwal, lead Smallcap Analyst at Equitymaster, believes smallcap stocks are set for a massive up move in 2021 and beyond.

Here's why...


As can be seen from the chart above, the rebound in the smallcap index at 157% is way below past rebounds which have ranged from 210% to 293%.

Here's what Richa wrote in a recent edition of Profit Hunter...

  • There's consolidation happening in the smallcap space. The survivors and resilient players are not just see fundamental upside but are also likely to get rerated.

    But there is more to stock markets than smallcaps.

    And it will be good to see how different stock classes are stacked against each other.

Richa believes if you focus on the quality of business, margin of safety in valuations, and an optimum asset allocation, you are likely to create huge wealth for yourself.

In latest developments from the IPO space, Shyam Metalics and Energy is all set to kick off its initial public offering (IPO) next week on 14 June.

Watch the Replay: The Smallcap Revival Summit

Currently, Shyam Metalics is commanding a premium of Rs 100-130 per share in the grey market ahead of its Rs 9.1 bn IPO.

The issue has been downsized from Rs 11.1 bn earlier, as the promoters decided to cut the offer for sale (OFS) portion to Rs 2.5 bn from Rs 4.5 bn earlier.

The price band for the issue has been fixed in the Rs 303-306 range.

The company has proposed to use the net proceeds from the fresh issue to repay or prepay up to Rs 4.7 bn of its debt and those of its subsidiary, Shyam SEL and Power, and for other general corporate purposes.

Tata Steel Long Products and Tata Metaliks, among other will be the company's close peers.

Shyam Metalics is a producer of intermediate and long steel products, such as iron pellets, sponge iron, steel billets, TMT, structural products, wire rods and ferroalloys.

It also focuses on high-margin products such as customised billets and specialised ferroalloys for special steel applications.

Unlike flat steel products, whose market is dominated by big players, long steel has a fair share of smaller companies. Shyam Metaliks is among the largest producers of ferroalloys in terms of installed capacity in India, as of February end.

How Shyam Metalics' IPO sails through remains to be seen.

Speaking of stock markets, in his latest video for Fast Profits Daily, India's #1 trader Vijay Bhambwani talks about how retail traders are moving the stock market.

As per Vijay, Indian retail traders are dominating the market and you need to react accordingly.

Tune in to the below video to find out more:

Moving on to news from the finance sector, Dewan Housing Finance Corp. (DHFL) is among the top buzzing stocks today.

--- Advertisement ---
Detect Anomaly in Stock Prices Before Anyone

Stock prices rise slowly but the crashes are always fast and deep.

A sudden fall in your stocks can wipe out your gains instantly.

Watch this video to learn how to use Wyckoff Distribution system to be ahead of crowd and sell your stocks before major sell-offs.
------------------------------

63 Moons Technologies on Tuesday said it is going to challenge NCLT's approval of the DHFL resolution plan.

The National Company Law Tribunal (NCLT) had approved the resolution plan of Piramal Capital and Housing Finance (PCHFL) for DHFL earlier this week.

63 Moons wants the creditors of DHFL to receive the money, instead of the buyer (PCHFL), in case recovery happens in the alleged fraudulent transactions by former promoters.

In a release, the company said it believes the current resolution plan is contrary to law and against the interest of all DHFL's creditors including NCD holders. The company holds over Rs 2 bn non-convertible debentures (NCD) of DHFL.

Meanwhile, fixed deposit (FD) holders of DHFL are planning to approach higher courts against the NCLT order as they want their full money back.

The administrator of DHFL had filed applications for recovery of almost Rs 450 bn under the Insolvency and Bankruptcy Code (IBC) against DHFL's promoters and other persons on account of their fraud against the creditors.

The contention of 63 Moons is that Rs 450 bn must come to the defrauded parties, instead of the buyer.

Note that shares of DHFL have been rising continuously, even though the company is about to delist its shares from the exchanges as part of its bankruptcy resolution.

DHFL share price has opened the day down by 10%.

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 "Indian Share Markets Open Flat; Cipla & ONGC Top Gainers". Click here!

  

Stock Market Updates

Sensex Trades Marginally Higher, Dow Futures Down by 122 Points (Today's Market)

Jul 30, 2021 12:30 pm

BSE Sensex is trading up by 91 points, while the NSE Nifty is up by 33 points.

QUESS CORP Share Price Up by 5%; BSE IT Index Up 0.7% (Today's Market)

Jul 30, 2021 10:56 AM

QUESS CORP share price is trading up by 5% and its current market price is Rs 874. The BSE IT is up by 0.7%. The top gainers in the BSE IT Index are QUESS CORP (up 5.2%) and TECH MAHINDRA (up 9.3%). The top losers are INFOSYS (down 0.1%) and WIPRO (down 0.3%).

Sensex, Nifty Open Flat; Tech Mahindra Zooms 8% Post June Quarter Results (Today's Market)

Jul 30, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 16 points, while the Nifty is trading lower by 9 points.

RATNAMANI METALS Share Price Up by 5%; BSE METAL Index Up 0.3% (Today's Market)

Jul 30, 2021 09:35 AM

RATNAMANI METALS share price is trading up by 5% and its current market price is Rs 2,208. The BSE METAL is up by 0.3%. The top gainers in the BSE METAL Index is RATNAMANI METALS (up 5.3%). The top losers are SAIL (down 0.1%) and HINDALCO (down 0.5%).

MOTILAL OSWAL Share Price Down by 6%; BSE 500 Index Up 0.1% (Today's Market)

Jul 30, 2021 09:31 AM

MOTILAL OSWAL share price is trading down by 6% and its current market price is Rs 1,007. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are TECH MAHINDRA (up 7.8%) and TEJAS NETWORKS (up 5.0%). The top losers are MOTILAL OSWAL (down 5.9%) and SWAN ENERGY (down 6.3%).

TECH MAHINDRA at All Time High; BSE IT Index Up 0.6% (Today's Market)

Jul 30, 2021 09:31 AM

TECH MAHINDRA share price has hit an all time high at Rs 1,217 (up 7.8%). The BSE IT Index is up by 0.6%. Among the top gainers in the BSE IT Index today are TECH MAHINDRA (up 7.8%) and ORACLE FINANCIAL (up 1.0%). The top losers include HEXAWARE TECHNOLOGIES and INFOSYS (down 0.1%).

View More Indian Share Market News

Most Popular

These Are the Best Stocks to Own(Fast Profits Daily)

Jul 22, 2021

Find out what I think are the best kind on stocks to own in the market.

Cash the Crash in Gas Prices(Fast Profits Daily)

Jul 21, 2021

Get ready to profit from the coming crash in the price of natural gas.

Electric 2-Wheelers: The Megatrend has Begun(Profit Hunter)

Jul 20, 2021

The shift to electric 2-wheelers will be faster than expected.

A Trading Hack to Multiply Profits(Fast Profits Daily)

Jul 23, 2021

Use this trading hack and get a big boost in your trading profits.

OPEC & Our Next Crude Oil Trade(Fast Profits Daily)

Jul 20, 2021

This is why we are on the correct side of the crude oil trade.

More

Become A Smarter Investor
In Just 5 Minutes

Multibagger Stock Guide 2021
Get our special report Multibagger Stocks Guide (2021 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Jul 30, 2021 (Close)

MARKET STATS