Indian Indices End on a Positive Note for Third Straight Day; Yes Bank Falls 5%

Wed, 17 Jul Closing

   Previous Close   

   Pre-Open   

   09:30 am   

   12:30 pm   

Indian share markets traded on a positive note most of the day and ended marginally higher. Sectoral indices ended on a mixed note with stocks in the IT sector, finance sector and FMCG sector witnessing buying interest while automobile stocks and energy stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 85 points and the NSE Nifty closed up by 25 points. The BSE Mid Cap index ended the day down by 0.2%, while the BSE Small Cap index ended down by 0.1%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng and the Shanghai Composite stood lower by 0.2%. The Nikkei 225 was down 0.3%.

The rupee is trading at 68.83 against the US$.

The domestic currency opened on a cautious note and fell 9 paise in early trade today amid rising crude oil prices and foreign fund outflows.

Forex traders said rising Brent crude prices and foreign fund inflows weighed on the domestic currency, while weakening of the greenback vis-a-vis other currencies overseas added support to the local unit and restricted the downfall.

Speaking of crude oil, catch Vijay Bhambwani talk about the impact of hike in excise duty and taxes on fuel in India. As per him, trading in crude oil offers excellent opportunities in nearly all market conditions due to its unique standing within the world's economic and political systems.

In news from the banking sector, shares of DCB Bank witnessed huge selling pressure today after the private lender reported a sub-par performance in June quarter (Q1FY20) led by decline in loan growth, sequential rise in fresh slippages and non-performing assets (NPAs).

Reports state that the bank's loan growth of 13% year-on-year (YoY) was the slowest in the past five years.

The gross non-performing assets (NPAs) ratio rose to 1.96% as against 1.86% in the year-ago quarter.Net NPAs also expanded to 0.81% during June quarter as compared to 0.72% in the corresponding quarter last year.

The bank's net interest margins (NIMs) declined 0.23 bps YoY and 11 bps QoQ to 3.67% in Q1FY20 led by rise in cost of funds and muted loan growth.

To know more, you can read DCB Bank's Q1FY20 Result analysis on our website.

Meanwhile, Yes Bank share price also witnessed selling pressure today. Shares of the lender plunged over 5% in intraday trade, falling 8% from its early morning high of Rs 108 ahead of its Q1FY20 earnings scheduled to be announced later today.

Note that since the March quarter (Q4FY19) results, which were announced in April, shares of the private lender have tanked around 56% after the bank posted its first ever net loss of Rs 15.1 billion on the back of the provisions soaring over nine times.

Rating agency Moody's has placed Yes Bank's foreign currency issuer rating of Ba1 under review for downgrade as liquidity pressures on finance companies may negatively impact credit profile of the lender.

How this all pans out remains to be seen. Meanwhile, we will keep you updated on the latest developments from this space.

Moving on, in latest developments from the IPO space, as per an article in The Economic Times, half a dozen companies are likely to hit the primary market in the next month or so to raise around Rs 100 billion, bringing to an end the dry spell in initial public offers (IPOs) that's prevailed this year.

Here's an excerpt from the article:

• Companies may also rush to launch IPOs to beat a possible flood of OFS once the regulator approves new minimum public shareholding norms as proposed by the government in the budget and based on the advice of investment bankers. Finance minister Nirmala Sitharaman urged the markets regulator to consider increasing the minimum public shareholding in listed firms to 35% from 25% in her budget speech on July 5.
  
  There are more than 50 DRHPs (draft red herring prospectuses) that have been filed with the regulator. If the next few IPOs trade well, it could mark the revival of primary markets and you could see a strong supply of paper though IPOs and QIPs (qualified institutional placements).

Sources say that Sterling and Wilson Solar, ASK Investment Managers, Spandana Spoorthy Financial, Affle India, AGS Transact Technologies and Mazagon Dock Shipbuilders are planning IPOs by the middle of August.

Speaking of IPOs, the first half of 2019 hasn't seen a lot of activity in the IPO market.

There have been just 8 IPO on the main board, raising as much as Rs 55.1 billion, compared with 24 that raised Rs 309.6 billion in the year earlier period.

Despite lackluster activity in India's primary markets, there have been attractive money-making opportunities for attentive investors.

Ankit Shah, in his premium newsletter Insider, recommended applying to the IPO of Polycab India and the more recent IPO of IndiaMART InterMESH.

Both IPOs were subscribed many times over. And both gave handsome double-digit returns on the listing date.

Top 3 IPO Gains in 2019

At Equitymaster, we believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

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