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 Ends Marginally Lower; Telecom and IT Stocks Witness Selling
Tue, 26 May Closing | Monish Vora, TM Team

After opening the day on a strong note, Indian share markets witnessed selling pressure during closing hours today and ended marginally lower.

Benchmark indices gave up early gains and slipped into the red during the last hour of trading.

At the closing bell, the BSE Sensex stood lower by 63 points and the NSE Nifty closed down by 10 points.

The BSE Mid Cap index ended the day up by 1.2%, while the BSE Small Cap index ended up by 0.6%.

Sectoral indices ended on a mixed note with stocks in the telecom sector and IT sector witnessing selling pressure, while metal stocks witnessed buying interest.

Asian stock markets finished on a strong note today. The Nikkei ended 2.6% higher after Prime Minister Shinzo Abe on Monday lifted the state of emergency for the entire nation and gave his support for a huge new stimulus package.

Meanwhile, the Hang Seng advanced 2%, recovering some ground after investors were stunned by news last week that Beijing plans to implement a controversial national security law in the financial hub.

The Hang Seng had its worst day in nearly five years on Friday after Beijing said that it would effectively bypass Hong Kong's legislature to enact the law.

European stock markets and US futures rose today. Meanwhile, the FTSE index gained more than 2% after UK Prime Minister Boris Johnson announced plans to reopen all shops by the middle of June.

The rupee is trading at 75.66 against the US$.

--- Advertisement ---
Today is the last day to access details of Richa's #1 Stock Pick for 2021.

After 11:59 pm tonight, the link goes down and the access will be made private.

You'll lose out on potentially the opportunity of a lifetime to get in on the chance for tapping into Rs 4 trillion industry.

The stock is available for pennies on the dollar today and has the potential to produce life-changing returns over the long term.

Just click here right away and continue reading...

If you miss it, We believe you will regret this for a long time to come.

HURRY UP!
------------------------------

Gold prices are trading down by 0.6% at Rs 46,681.

Note that stock markets around the world have witnessed one of the most volatile phases in 2020 so far.

One month we see a sharp decline followed by a sharp up move the next month.

One day we hear positive news of a vaccine for the virus. Another day, a WHO scientist says we might have to live with this virus for years.

Naturally, investors are confused as to what they should do? Buy, hold or sell their stocks.

In the video below, Girish Shetty, Research Analyst at Equitymaster, explains the current scenario and what are the type of stocks investors should buy, hold or sell in the current crisis.

Tune in to find out more...

Moving on, market participants were tracking Deepak Nitrite share priceWonderla Holidays share price and Torrent Pharma share price as these companies announced their March quarter results (Q4FY20) today.

You can read our recently released Q4FY20 results of other companies here: NescoSanofi IndiaApollo TyresAjanta PharmaGrindwell NortonJubilant Foodworks, Lakshmi Machine, Birla Corporation, Bata India.

In news from the banking sector, IDFC First Bank share price was in focus today.

Shares of the private lender surged as much as 7% today after the lender swung to profit in the March quarter.

IDFC First Bank on Friday reported a consolidated net profit of Rs 763.6 million for Q4FY20. It had posted a loss of Rs 2,120 million during the corresponding quarter a year ago.

The bank's total income rose to Rs 45.5 billion as against Rs 39.7 billion during the same period last year.

For the full year 2019-20, the bank reported a net loss of Rs 28.4 billion as against Rs 19.1 billion in the previous fiscal.

The bank said that in view of accounting for IDFC - CFL (Capital First) merger from appointed date of October 1, 2018, the figures of the year ended March 31, 2020, are not comparable.

To know more, you can read IDFC First Bank's latest result analysis on our website.

--- Advertisement ---
How to Unlock Almost 3x More Gains During the Corona Crisis...

Good News...

Our top analyst Richa Agarwal just identified 5 "pandemic-proof" smallcaps that could win the war against coronavirus...

And deliver up to 50-100% gains really fast!

She has revealed the exact details of these 5 high-potential smallcaps in her latest special report...

Check It Out Now...
------------------------------

In other news, former Chief Executive Officer and Managing Director of Yes Bank, Ravneet Gill told the Enforcement Directorate (ED) that Yes Bank issued large amounts of credit to several companies that had stressed assets and liquidity issues.

An ED chargesheet quoted Gill as saying that the private lender on March 31, 2019, had put out a credit watch list naming several large corporates/borrowers.

These included Reliance Group, Essel Group, Cox & Kings, Dewan Housing Finance (DHFL), Omkar Group, Radius Developer and others.

ED in its report said that the bank took a contingency provision of Rs 20 billion as a measure of prudent accounting and transparency.

Yes Bank share price ended the day up by 3%.

Moving on to news from the commodity space, crude oil prices rose today on clear signs that producers are sticking to commitments to cut crude supply as more cars get back on the road with coronavirus lockdowns easing around the world.

Oil markets were buoyed by comments from Russia reporting its oil output had nearly dropped to its target of 8.5 million barrels per day (bpd) for May and June under its supply cut deal with the Organization of the Petroleum Exporting Countries (OPEC) and other leading producers.

At the time of writing, US West Texas Intermediate (WTI) crude futures were trading up by 2.3% at US$ 34.00. Meanwhile, Brent crude futures were trading up by 0.7% at US$ 35.76.

OPEC+ countries are set to meet again in early June to discuss maintaining their supply cuts to shore up prices.

In April, the big producers had agreed to cut output by nearly 10 million bpd for May and June.

Russia's energy ministry on Monday quoted minister Alexander Novak as saying a rise in fuel demand should help cut the current global surplus of around 7-12 million bpd by June or July.

Speaking of crude oil, on a year-to-date (YTD) basis, crude oil prices are down about 42%.

Crude Oil Prices Fall Sharply

Crude oil witnessed selling during the start of the year due to oversupply concerns amid subdued demand.

Prices crashed further in March in what was the worst price dip since the 1991 Gulf War with Brent prices plunging to US$ 31 per barrel.

In April, crude oil futures crashed and briefly went to negative prices, implying that investors would need to pay buyers to take delivery of crude oil amid dwindling storage space.

What effects crude oil prices have on Indian stocks markets and the Indian economy remains to be seen. Meanwhile we will keep you updated on the latest developments from this space.

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 Ends Marginally Lower; Telecom and IT Stocks Witness Selling". Click here!

  

Stock Market Updates

ASTER DM HEALTHCARE LTD Share Price Down by 5%; BSE HEALTHCARE Index Up 0.4% (Today's Market)

Sep 30, 2020 03:28 PM

ASTER DM HEALTHCARE LTD share price is trading down by 5% and its current market price is Rs 145. The BSE HEALTHCARE is up by 0.4%. The top gainers in the BSE HEALTHCARE Index are BLISS GVS PHARMA (up 6.5%) and NARAYANA HRUDAYALAYA LTD (up 3.6%). The top losers is ASTER DM HEALTHCARE LTD (down 5.2%)..

MPHASIS Share Price Up by 6%; BSE IT Index Up 0.3% (Today's Market)

Sep 30, 2020 03:26 PM

MPHASIS share price is trading up by 6% and its current market price is Rs 1,389. The BSE IT is up by 0.3%. The top gainers in the BSE IT Index is MPHASIS (up 5.7%). The top losers are HCL TECHNOLOGIES (down 0.1%) and INFOSYS (down 0.2%).

JSW ENERGY Share Price Down by 5%; BSE POWER Index Up 0.1% (Today's Market)

Sep 30, 2020 03:26 PM

JSW ENERGY share price is trading down by 5% and its current market price is Rs 60. The BSE POWER is up by 0.1%. The top gainers in the BSE POWER Index are SIEMENS (up 0.7%) and GMR INFRA (up 0.7%). The top losers is JSW ENERGY (down 5.1%).

ASTRAL POLY TECHNICK Share Price Up by 6%; BSE CAPITAL GOODS Index Up 1.1% (Today's Market)

Sep 30, 2020 03:20 PM

ASTRAL POLY TECHNICK share price is trading up by 6% and its current market price is Rs 1,222. The BSE CAPITAL GOODS is up by 1.1%. The top gainers in the BSE CAPITAL GOODS Index is ASTRAL POLY TECHNICK (up 5.7%). The top losers are BHARAT ELECTRONICS (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

AIA ENGINEERING Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.8% (Today's Market)

Sep 30, 2020 03:08 PM

AIA ENGINEERING share price is trading up by 5% and its current market price is Rs 1,851. The BSE CAPITAL GOODS is up by 0.8%. The top gainers in the BSE CAPITAL GOODS Index is AIA ENGINEERING (up 5.2%). The top losers are THERMAX (down 0.2%) and HONEYWELL AUTOMATION (down 0.3%).

Indian Indices Trade on a Volatile Note; Tata Steel & ONGC Top Losers (Today's Market)

Sep 30, 2020 12:30 pm

The BSE Sensex is trading down by 37 points, while the NSE Nifty is trading down by 14 points.

View More Indian Share Market News

Most Popular

Why We Picked This Small-cap Stock for Our Hidden Treasure Subscribers(Profit Hunter)

Sep 17, 2020

This leading household brand will profit big time in a post covid world.

My Top Stock to Buy in this Market Selloff(Profit Hunter)

Sep 22, 2020

The recent correction offers a great opportunity to buy this high conviction smallcap stock.

Can the Nifty Fall to 10,200?(Fast Profits Daily)

Sep 24, 2020

The Nifty has reached an important support level today. If it breaks then we could see further downside.

What Do the Charts Say About Buying Smallcaps Now?(Fast Profits Daily)

Sep 18, 2020

Everyone seems to be excited about buying smallcaps now...but is it the right thing to do? What do the charts tell us? Find out in this video...

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


Sep 30, 2020 (Close)

MARKET STATS