Sensex Ends Flat; Metal and Telecom Stocks Witness Selling

Mon, 20 Apr Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   12:30 pm   

Share markets in India witnessed volatile trading activity throughout the day and ended on a flat note.

Benchmark indices fluctuated between gains and losses, tracking weakness in global peers.

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

At the closing bell, the BSE Sensex stood higher by 59 points while the NSE Nifty ended on a flat note.

The BSE Mid Cap index ended the day down by 0.2%, while the BSE Small Cap index ended the day up by 0.8%.

Asian stock markets finished on a negative note, tracking weakness in oil prices that collapsed to more than two-decade lows on low demand data and storage facilities reaching their limits.

Upcoming earnings reports and economic data also kept investors cautious.

As of the most recent closing prices, the Hang Seng was down 0.1% and the Shanghai Composite stood higher by 0.5%. The Nikkei 225 was down 1.2%.

Before we move on to other news, we would like to share that Equitymaster's birthday is around the corner. We will be starting our 25th year as an organisation on 22nd April.

And on this 25th anniversary, we have something very special planned for you.

Make sure you sign up for our anniversary celebrations - we have lots of exciting bonuses in store for you.

Click here for more details...

Moving on, the rupee is trading at 76.53 against the US$.

As the Coronavirus pandemic continues to haunt the global financial markets, the rupee has been hit badly.

In a recent article titled The Sharp Fall in Indian Rupee: 6 Points to Know, we dive deeper and look at the factors behind rupee's depreciation.

Market participants were tracking Infosys share price as the company is scheduled to announce its March quarter results (Q4FY20) later today.

You can also read our recently released Q4FY20 results of Wipro and TCS.

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

Shares of HDFC Bank rose 6% today after the private lender's net interest income (NII) grew 16.2% year-on-year (YoY) at Rs 152 billion in the January-March quarter (Q4FY20).

The bank's profit before tax (PBT) was up 2.5% at Rs 91.7 billion YoY, due to higher provisioning in the light of the Covid-19 crisis.

The bank's net interest margin (NIM) stood at 4.3% in Q4FY20. The private lender's NIM stood at 4.2% in Q3FY20.

Overall, the bank reported a 15.4% rise in consolidated net profit at Rs 72.8 billion for Q4FY20. The bank had posted a net profit of Rs 63 billion during the corresponding quarter last year.

Asset quality improved sequentially as gross non-performing assets (GNPA) declined by 16 basis points (bps) quarter-on-quarter, of which 10 bps improvement was due to moratorium benefit.

In other news, Kotak Mahindra Bank is planning to raise capital, which will help promoter Uday Kotak lower his stake in the institution and comply with Reserve Bank of India (RBI) regulations.

Reportedly, the bank is planning to sell 4% of its promoter stake.

In an exchange filing on Sunday, the bank said its board will hold a meeting on 22 April to approve a plan to raise equity capital through a private placement, follow-on public offering (FPO), or a qualified institutions placement (QIP).

In January, Kotak Mahindra Bank and RBI reached an agreement under which the bank promoter Uday Kotak agreed to reduce his stake over a period of time. Under the agreement, the promoter stake has to brought down to 26% by July-August.

Kotak Mahindra Bank share price ended the day down by 0.8%.

Moving on to news from the commodities space, domestic gold prices fell today, tracking a decline in global rates. On Multi Commodity Exchange (MCX), June gold futures fell 0.8% to Rs 45,310, extending the previous session's Rs 1,600 decline.

However, silver prices edged higher on MCX with May futures rising 0.3% to Rs 42,940 per kg.

In global markets, gold prices dropped to over one-week low amid a firm dollar. The dollar strengthened 0.15% against key rivals to 99.98, making gold costlier for investors holding other currencies.

Note that gold prices are soaring to new highs, tracking the world economy, which is heading into a recession amid the Covid-19 crisis.

June gold futures crossed the Rs 47,000-mark per 10 grams on 16 April for the first time during intraday trade on MCX.

Speaking of gold, you will be surprised to know that the safe haven has outperformed equities over a 15-year period.

Have a look at the chart below:

An equal amount of Rs 100 invested in both gold and Sensex in 2004 would have generated higher returns in gold by a wide margin.

Your total investment in gold and Sensex would be valued at Rs 687 and Rs 410, respectively.

So, investors in gold are happier than investors in Sensex or equities at this moment.

Also speaking of gold, in his latest video, Vijay Bhambwani explains why the bull market in gold may get bumpy going ahead.

You can check the same here: A Timely Warning About Gold

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