Indian Indices Gain Momentum

Tue, 6 Sep 11:30 am

   Previous Close   

   Pre-Open   

   09:30 am   

   01:30 pm   

   Closing   

After opening the day on a positive note, the Indian stock markets have added to their early gains. Sectoral indices are trading on a positive note with stocks from the banking and <>auto sectors leading the gains.

The BSE Sensex is trading up 284 points (up 1%) and the NSE Nifty is trading up 86 points (up 1%). The BSE Mid Cap index is trading up by 1.3%, while the BSE Small Cap index is trading up 0.8%. The rupee is trading at 66.56 to the US$.

As per an article in the Economic Times, India's Chief Economic Advisor Arvind Subramanian stated that Universal Basic Income (UBI) could feature in the next economic survey. Subramanian said that the idea of UBI is gaining a lot of resonance all over the world, especially in India. He further said that UBI is going to be one of the big topics to be addressed in the next economic survey.

When asked if India was ready for such an idea, he said that the answer to whether or not we would have a UBI could well be a yes, but under certain conditions.

The idea of UBI is gaining lot of attention of late. And citizens of many countries across the globe are still arguing for it. The recent case was of the Swiss. They casted their votes and registered their opinions on the idea of UBI. 'No', they said. Voters rejected the proposal 77% to 23% because of its prohibitive cost and implicit reward for idleness.

So can a minimum guaranteed income for India solve the troubles?

As far as our views go, we believe India needs a reform on the inequality front and not the income front. No doubt that an additional dole of money in hand will make Indians richer. But that alone can't shift the progress curve. It would be just the beginning of the end. This we say is because India's net 'Gini index of inequality' - based on income net of taxes and transfers - stood at 51.36 in 2013. This was as against 45.18 recorded in 1990. This records as one of the highest levels of inequality in the Asia-Pacific region.

And this rise in income inequality is due to the lack of access to opportunity for the poor. Not every Indian has access to basic factors such as education and employment. Other factors include the capture of subsidies by the rich, skewed distribution of wealth, and the rural-urban income gap. And as a result, the income divide has just become more pronounced. If treated with scant importance, this can pose many problems ahead. In fact, India's most valuable asset, the youth, could become one of its biggest liability if this gap keeps growing.

And the scary part is that the problem of inequality is just one part of the puzzle that remains a concern for the Indian economy. Vivek Kaul, editor of Vivek Kaul's Diary, has just launched the Vivek Kaul Letter which outlines some serious threats that lie ahead for the Indian economy.

In another news update, Urjit Patel has assumed charge as the 24th governor of the Reserve Bank of India (RBI) after a private handover from Raghuram Rajan.

Ministers and top bureaucrats expect Urjit Patel to maintain a balance between inflation and growth. He is expected to use his experience of handling monetary policy at the RBI to deliver on this front.

That said, challenges remain. The biggest of all is inflation. Vivek Kaul, in one of his articles from the Vivek Kaul's Diary, explained what we can expect from the new RBI governor. He stressed that, with inflation levels at nearly a two-year high, it is important to continue to contain inflation. In a slightly different vein, Richa Agarwal, Research Analyst at Equitymaster, offered some questions that lie ahead for Urjit Patel's mandate.

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