Sensex Trades Over 700 Points Lower, Dow Futures Up by 91 Points

Thu, 25 Mar 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   12:30 pm   

   Closing   

Share markets in India are presently trading on a negative note.

The BSE Sensex is trading down by 779 points, down 1.6% at 48,401 levels.

Meanwhile, the NSE Nifty is trading down by 240 points.

L&T is among the top gainers today. Bharti Airtel and Indian Oil Corporation are among the top losers today.

The BSE Mid Cap index is trading down by 2.7%.

The BSE Small Cap index is trading down by 2.5%.

On the sectoral front, all sectors are trading in red with stocks from the telecom sector, witnessing most of the selling pressure.

US stock futures are trading higher today, indicating a positive opening for Wall Street.

Nasdaq Futures are trading up 23 points (up 0.2%) while Dow Futures are trading up 91 points (up 0.3%)

The rupee is trading at 72.60 against the US$.

Gold prices are trading down by 0.1% at Rs 44,805 per 10 grams.

In global markets, gold prices were flat today amid mixed cues. Easing US treasury yields provided support to the precious metal at lower levels while a strong dollar capped rise. Spot gold was steady at US$ 1,734.8 per ounce.

Gold prices in India struggled today amid mixed global cues. Surging coronavirus cases and a dip in US bond yields supported the safe-haven appeal of gold while a stronger US dollar weighed on the precious metal. On MCX, gold futures for April delivery were flat at Rs 44,897 per 10 grams. In the previous session, gold had edged up 0.5%.

To know more about gold, check out our article on how to invest in gold here: How to Invest in Gold?

Speaking of the stock markets, Brijesh Bhatia, Research Analyst at Fast Profits Report, talks about the levels you need to watch out for on the Nifty and the dollar index, in his latest video for Fast Profits Daily.

Tune in here to find out more:

Moving on to stock specific news...

Among the buzzing stocks today is Vakrangree.

Vakrangee (VL) has entered into a partnership agreement with TransUnion CIBIL (TUCIBIL) to drive financial inclusion by providing easy access to the CIBIL score and report to consumers through the Nextgen Vakrangee Kendra network.

A CIBIL score is essentially an assessment of an individual's or company creditworthiness and financial health which is used as an indicator for providing loans and credit services. A good credit score can be used by them to bargain for a better interest rate.

Once the service is made available, consumers and businesses will be able to place a request for CIBIL score and report and/ or CIBIL rank and company credit report through a secure service portal through Nextgen Vakrangee Kendra.

With 80% of Nextgen Vakrangee Kendra outlets in Tier-4 and 6 locations, Vakrangee will allow citizens, especially in rural areas to access formal bank loans quickly for their entrepreneurial as well as personal needs.

Vakrangee is a unique technology-driven company focused on building a network of last-mile retail outlets to deliver real-time banking & financial services, ATM, insurance, e-governance, e-commerce and logistics services to the unserved rural, semi-urban and urban markets.

We will keep you posted on more updates from this space. Stay tuned.

At the time of writing, shares of Vakrangee were trading down by 1.1% on the BSE.

Speaking of smallcaps, note that since the lows in March 2020, the smallcap index has gained more than 100%.

While caution is indeed warranted, Richa Agrawal, Research Analyst at Equitymaster, thinks there is still a lot more steam left to this smallcap rally.

Despite rallying more than 100% since the March 2020 lows, Richa believes small-cap stocks are set for a massive up move in 2021 and beyond. Here's what she wrote in a recent edition of Profit Hunter...

• The P/E for smallcap index doesn't make sense. There are thousands of listed small companies. Some have negative earnings. The base is not a valid data to work with.
  
  That said, the closest proxy to relative valuations is the Smallcap to Sensex ratio,
  
  Historically, this ratio has averaged 0.43x. In the previous mega runs of the smallcap index, this ratio has gone as high as 0.75x.
  
  In January 2018, when smallcaps peaked, the ratio was at 0.58x.
  
  Guess where this ratio is now after a 100% run up in the smallcap index?
  
  0.38.
  
  It's lower than the median over 2 decades.

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.

Moving on to news from the finance sector...

CBI Books DHFL For Creating Fake Home Loan Accounts Under PMAY

The Central Bureau of Investigation (CBI) has filed a case against Dewan Housing Finance (DHFL), promoters Kapil Wadhawan, Dheeraj Wadhawan and unknown public servants for allegedly creating 206,000 fake home loan accounts under the Pradhan Mantri Aawas Yojana (PMAY).

For a total loan amount of Rs 140.5 billion, Rs 117.6 billion was routed to several fictitious firms. The company also claimed interest subsidies worth Rs 18.8 billion from the Centre on the loans disbursed under the Pradhan Mantri Aawas Yojana.

A forensic audit report by Grant Thornton revealed the irregularities of DHFL, after which the agency registered a case on March 15, 2021.

DHFL, according to the CBI FIR, processed 88,651 cases under the PMAY Scheme - under which loans are granted to economically weaker sections of society for the purpose of buying land and construction of houses.

Development of dwelling units under slum development schemes and housing units are eligible for credit-linked interest subsidy. The interest subsidy varies from 3% per annum to 6.5% per annum and the subsidy is payable upfront with a cap of Rs 230,156 to Rs 267,280 depending on the category in which the borrower falls.

The maximum loan amount eligible under the scheme is Rs 2.4 million. The subsidy amount is claimed by the financing institutions from the National Housing Bank, which is reimbursed by the Centre out of the budgetary provisions in the Union Budget.

DHFL is a deposit-taking housing finance company, headquartered in Mumbai with branches in major cities across India. DHFL was established to enable access to economical housing finance to the lower and middle-income groups in semi-urban and rural parts of India.

How this pans out remains to be seen. Meanwhile, stay tuned for more updates from this space.

And 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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers