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?  

Sensex Opens Flat; Power and IT Stocks Lag
Fri, 24 Jan 09:30 am | Rini Mehta, TM Team

Editor's note: Dear reader, we are now on Telegram! Get our latest views on stock markets and more, instantly. Join our Telegram channel here!

Asian stocks made a barely positive start in early trade today after the world's health body called it a little too early to declare a coronavirus outbreak a global emergency. Meanwhile, the S&P 500 ended slightly higher and the Nasdaq eked out a record closing high on Thursday, helped by a jump in Netflix, while news about the coronavirus outbreak spreading from China and mixed earnings results kept a lid on the market.

Back home, India share markets opened on a flat note. The BSE Sensex is trading down by 65 points while the NSE Nifty is trading down by 21 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.1%.

Sectoral indices have opened the day on a mixed note with power stocks and IT stocks witnessing selling pressure. Oil and gas stocks and realty stocks have opened the day in green.

The rupee is currently trading at 71.21 against the US$.

In the news from the commodities space. Gold prices in India continued to remain in a tight range yesterday.

On MCX, gold futures were up marginally at Rs 39,930 per 10 grams. Silver prices however edged lower.

Silver futures were down 0.3% to Rs 46,102 per kg.

Gold had hit a record high of Rs 41,300 per 10 grams earlier this month in India amid US-Iran tensions. After coming off highs, gold has remained in a tight range since then.

--- Advertisement ---

7 Stocks You Absolutely Don't Want to Miss... (Virtually FREE Report!)

Our Co-Head of Research, Tanushree Banerjee, has identified the 7 stocks that could do exceedingly well in the coming years riding on a rare economic event.

And she says those who get into these 7 stocks right now have the chance to make potentially LIFE-CHANGING returns in the long run.

So will you be among those who acts on this opportunity now? Or will you be among those who will kick yourself later not taking action now? The choice is yours.

Full details on these 7 stocks are included in Tanushree's special report. And by acting fast, you can claim a copy of this report virtually FREE.

However, this opportunity will end at 11:59pm on Saturday, 29th Feb. So don't delay.

Click here to find out how you can claim your FREE copy


In global markets, gold prices were steady as fears over the spread of China coronavirus virus supported the safe-haven appeal of gold.

Speaking of gold, how lucrative has gold been as a long-term investment in India?

The chart below shows the annual returns on gold over the last 15 years...

Gold Has Been a Shining Long-Term Investment

As you can see, barring just two years - 2013 and 2015, gold has delivered positive returns in 13 of the last 15 years.

Here's what Ankit Shah, the editor of daily premium newsletter Equitymaster Insider (requires subscription) wrote about this in one of the editions of The 5 Minute WrapUp...

  • "In fact, gold has delivered double-digit gains in 10 of the last 15 years.

    During the entire 15-year period, gold has shot up 555% (compounded annual return of 12.1%).

    During the same period, the Sensex surged 511% (compounded annual return of 12.0%). If you include dividends, the Sensex returns would be higher than gold by a couple of percentage points.

    One must note that the Sensex returns are not representative of the broader market returns. Moreover, gold was a no-brainer. You didn't have to study financial statements, business models and forecast future earnings growth to get a double-digit return on your investment."

Meanwhile, Vijay Bhambwani talks about how gold has been relied upon by humankind for 3000 years in one of his videos.

If you consider street inflation, your fixed deposits are giving negative yields. In times like these, Vijay considers gold as a safe haven.

So, is it the time to buy gold?

Tune in to find out...

Moving on to the news from the economy. As per India Ratings and Research's (Ind-Ra) latest report, with the help of strong policy push coupled with revival in demand, India's growth rate is expected to be marginally higher at 5.5% in FY21 against the estimated 5% for the current fiscal.

Citing an NSO report, it said the slowdown is a combination of several factors including an abrupt and significant fall in lending by non-banking financial companies (NBFCs) close on the heels of a slowdown in bank lending and reduced income growth of households coupled with a fall in savings and higher leverage.

Although some improvement in FY21 is expected, these risks are going to persist. As a result, the Indian economy is stuck in a phase of low consumption as well as low investment demand.

As per the report, a strong policy push coupled with some heavy lifting by the government is required to revive the domestic demand cycle and catapult the economy back into a high growth phase.

The government has announced a slew of measures recently to prop-up the economy, but Ind-Ra believes they will come to aid only in the medium term. It said the shortfall in the tax plus non-tax revenue to result in the fiscal deficit slipping to 3.6% of GDP (budgeted 3.3%) in FY20, even after accounting for the surplus transferred by the RBI.

Ind-Ra said a continuance of low GDP growth even in FY21 means subdued tax revenue and limited room for stepping-up expenditure.

It believes the government will have to construct the FY21 budget in a way that expenditure is rationalised and prioritised and all avenues of revenue generation are tapped. While rationalising, the focus of expenditure has to be on creating direct employment and putting more money in the pockets of the people at the bottom of the pyramid, and it added that since their marginal propensity to consume is close to one, they are likely to spend what they receive.

This will support the consumption demand. Therefore, it said budgetary allocation to heads such as rural infrastructure, road construction, affordable housing and MNREGA must be prioritised and allocation for non-merit subsidy/expenditure less critical for growth be rationalised.

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

Equitymaster requests your view! Post a comment on "Sensex Opens Flat; Power and IT Stocks Lag". Click here!


Stock Market Updates

TUBE INVESTMENTS OF INDIA LTD at All Time High; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Feb 27, 2020 01:22 PM

TUBE INVESTMENTS OF INDIA LTD share price has hit an all time high at Rs 577 (up 4.7%). The BSE CAPITAL GOODS Index is down by 0.5%. Among the top gainers in the BSE CAPITAL GOODS Index today are TUBE INVESTMENTS OF INDIA LTD (up 4.7%) and LAKSHMI MACHINE (up 2.7%). The top losers include ABB INDIA and ELGI EQUIPMENTS .

GULF OIL LUBRICANTS Surges by 13%; BSE OIL & GAS Index Down 1.1% (Today's Market)

Feb 27, 2020 01:12 PM

GULF OIL LUBRICANTS share price has surged by 13% and its current market price is Rs 815. The BSE OIL & GAS is down by 1.1%. The top gainers in the BSE OIL & GAS Index is GULF OIL LUBRICANTS (up 12.7%). The top losers are PETRONET LNG (down 0.2%) and RELIANCE IND. (down 0.7%).

PRESTIGE ESTATES Plunges by 5%; BSE REALTY Index Down 2.5% (Today's Market)

Feb 27, 2020 12:18 PM

PRESTIGE ESTATES share price has plunged by 5% and its current market price is Rs 333. The BSE REALTY is down by 2.5%. The top gainers in the BSE REALTY Index is MAHINDRA LIFESPACE . The top losers is PRESTIGE ESTATES (down 5.1%).

GREENPLY INDUSTRIES Plunges by 6%; BSE 500 Index Down 1.1% (Today's Market)

Feb 27, 2020 12:02 PM

GREENPLY INDUSTRIES share price has plunged by 6% and its current market price is Rs 131. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are BASF INDIA (up 8.1%) and J&K BANK (up 5.1%). The top losers are GREENPLY INDUSTRIES (down 5.6%) and RELAXO FOOTWEARS (down 5.3%).

RELAXO FOOTWEARS Plunges by 5%; BSE 500 Index Down 1.2% (Today's Market)

Feb 27, 2020 10:58 AM

RELAXO FOOTWEARS share price has plunged by 5% and its current market price is Rs 766. The BSE 500 is down by 1.2%. The top gainers in the BSE 500 Index are BASF INDIA (up 9.6%) and SUVEN LIFESCIENCES (up 5.0%). The top losers are RELAXO FOOTWEARS (down 5.3%) and AVANTI FEEDS (down 5.8%).

Sensex Opens Over 200 Points Down; Realty and Auto Stocks Under Pressure (Today's Market)

Feb 27, 2020 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 204 points, while the Nifty is trading down by 57 points.

View More Indian Share Market News

Most Popular

The Next Few Days Are Crucial for Smallcap Investors - And 3 Must-Buy Stocks(Profit Hunter)

Feb 19, 2020

While I have been writing about the rebound in smallcaps for quite some time now... I have shied from the question - When exactly is the smallcap rebound happening. Well, the answer is now.

Here's Why I Recommended 15 Stocks in One Day Flat(Views On News)

Feb 14, 2020

This proven strategy can give big returns in quick time.

The Top 8 Trading Mistakes You Should Avoid(Fast Profits Daily)

Feb 18, 2020

Avoid these mistakes and your trading will turn much more profitable.

Corona Virus Could Trigger a Rally in this Stock(Profit Hunter)

Feb 20, 2020

A company which benefits from crude oil and coronavirus - if you would like to know more about it read this.

These Rebirth of India Stocks Are Raring to Compete with Tesla(The 5 Minute Wrapup)

Feb 17, 2020

There are Indian stocks which can soar like Tesla in the long-run.


India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get our special report, Secret to Increasing Your Trading Profits Today Now!
We will never sell or rent your email id.
Please read our Terms


Feb 27, 2020 02:01 PM