Sensex Falls 450 Points Tracking Weak Global Cues; HDFC Bank & ICICI Bank Top Losers

Wed, 31 Mar 09:30 am

   Previous Close   

   Pre-Open   

   09:30 am   

   12:30 pm   

   Closing   

Asian share markets are trading on a mixed note today as global financial shares retraced some of their recent losses, driven in part by higher bond yields, and investors awaited a closely watched Chinese factory activity survey.

The Nikkei is trading lower by 0.7% while the Hang Seng is trading down by 0.2%. The Shanghai Composite is down 0.6%.

In US stock markets, Wall Street indices ended down slightly overnight, with investors selling tech-related growth shares after US Treasury yields hit a 14-month high.

The Dow Jones Industrial Average fell 104 points, or 0.3% and the Nasdaq Composite dropped 14 points, or 0.1%.

Back home, Indian share markets have opened on a negative note, following the trend on SGX Nifty and amid weak signals from Asian markets.

The BSE Sensex is trading down by 445 points. Meanwhile, the NSE Nifty is trading lower by 116 points.

NTPC is among the top gainers today. HDFC Bank, on the other hand, is among the top losers today.

The BSE Mid Cap index has opened up by 0.1%. The BSE Small Cap index is trading higher by 0.3%.

Sectoral indices are trading on a mixed note with stocks in the FMCG sector witnessing buying interest.

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

Shares of APL Apollo Tubes and Prism Johnson hit their 52-week highs today.

The rupee is trading at 73.48 against the US$.

Gold prices are trading down by 0.1% at Rs 43,870 per 10 grams.

The dollar rose to a fresh one-year high versus the yen and traded near multi-month peaks with other rivals as investors bet that massive fiscal stimulus and aggressive vaccinations will help the US lead a global pandemic recovery.

Speaking of stock markets, in his latest video for Fast Profits Daily, Vijay Bhambwani explains why he is recommending caution in the market at this time.

In the video, Vijay shares his thoughts on why he believe you should temper your aggressive moves in the market.

Tune in to the video below to find out more:

In news from the power sector, NHPC is among the top buzzing stocks today.

NHPC, a Miniratna Power PSU on Tuesday said that the Ministry of Power, Government of India has conveyed approval of President of India on 30th March 2021, for investment of Rs 9.4 billion for acquisition of M/s Jal Power Corporation and construction of balance works of 120 MW Rangit-IV Hydro Electric Project located on river Rangit, in West Sikkim district of Sikkim, by NHPC Limited.

The above includes Rs 1.7 billion to be paid by NHPC for acquisition of M/s. JPCL through Corporate Insolvency Resolution Process (CIRP).

Shares of NHPC rallied as much as 8% yesterday on the back of above news.

NCLT has already approved the resolution plan submitted by NHPC. The National Company Law Tribunal (NCLT), Hyderabad Bench had approved NHPC's resolution plan for taking over the Jal Power Corporation (JPCL) recently.

NHPC had submitted its resolution plan and was declared the successful resolution applicant by the Committee of Creditors (CoC) on 24 January 2020.

NHPC will make upfront payment of Rs 1.7 billion and cost of the project is considered as Rs 9.4 billion.

NHPC share price has opened the day down by 0.2%.

Speaking of the power sector, it is interesting to note that the power exchanged in India is about 4.5% of the overall power production, as can be seen in the chart below:

As per Tanushree Banerjee, India's power sector is currently in transition. It is driven by increasing reliance on short-term contracts and electricity spot markets. This transition to the short-term market is happening due to quickly evolving industry dynamics.

Tanushree believes the Indian power sector will see a surge in spot power volumes due to certain factors.

In August 2020, Tanushree recommended a high quality stock from this space. Subscribers can read the report here (requires subscription).

And if you are not a StockSelect subscriber, here's where you can sign up.

Moving on to news from cement sector, UltraTech Cement on Tuesday said it has prepaid its long-term loans of Rs 50 billion.

The loan repayment has been done through free cash flows that the company has generated over the last few quarters despite the pandemic, the Aditya Birla Group firm said in a statement.

This is in line with the company's endeavour to maintain optimal capital structure, it added.

However, the company did not share the deadline by which the long-term loans were to be prepaid.

"The loan repayments have been done through free cash flows that the company has generated over the last few quarters despite the challenging circumstances and severe business interruptions during the first quarter of the current fiscal year," it added.

The company reported a revenue of Rs 406.5 billion in 2019-20 and is the largest manufacturer of grey cement, ready mix concrete (RMC) and white cement in India.

UltraTech Cement is also the third-largest cement producer in the world, excluding China, with a consolidated capacity of 116.8 million tonne per annum (MTPA).

UltraTech Cement share price has opened the day up by 0.1%.

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