Sensex Slides 111 Points; Mr Cyrus Mistry's Ouster Weighs on Tata Group Companies

Tue, 25 Oct 11:30 am

   Previous Close   

   Pre-Open   

   09:30 am   

   01:30 pm   

   Closing   

After opening the day flat, the Indian share markets registered some further losses and went on to trade in the red. Sectoral indices are trading on a mixed note with stocks from the metal sector and energy sector witnessing maximum selling pressure. Healthcare stocks are trading in the green.

The BSE Sensex is trading down 111 points (down 0.4%) and the NSE Nifty is trading down 25 points (down 0.3%). The BSE Mid Cap index is trading down by 0.4%, while the BSE Small Cap index is trading down 0.1%. The rupee is trading at 66.87 to the US$.

A major news that shocked corporate India yesterday was the removal of Mr Cyrus Mistry as the chairman of Tata Sons.

Mr Mistry, during his tenure focused on divestments from loss making enterprises and non-core businesses. To know more on this, you can read the previous stock market commentary here.

Mr Ratan Tata has been appointed as the interim chairman for four months. One must note that Mr Ratan Tata had been at the helm of the group's affairs for around three decades until Mr Mistry took over.

Owing to this sudden development, shares of Tata Group companies have gone for a volatile ride in today's market trading session. Shares of Tata Steel, Tata Motors, and TCS are trading down by around 2.8%, 1.1%, and 1%, respectively. Radhika, our ValuePro editor has written a full series about which Tata Group companies are investment worthy and which are not in  HYPERLINK "https://www.equitymaster.com/valuepro/?utm_source=submenu" \t "_blank" ValuePro Contenders.

Apart from the above development, the Rs 30 bn PNB Housing Finance IPO that opens today is expected to keep Indian share markets abuzz. The company had fixed a price band of Rs 750-775 for this IPO.

As per the news, anchor investors on Monday bade 30 times for the issue with most bids coming in at the top end of the price band.

The IPO, which will close for subscription on October 27, will be the second largest public issue of shares this year in the domestic market.

As far as IPOs are concerned, listing gains and over subscription of the issues have caught the eye of market participants. With this euphoria, there are many more IPOs lined up in the coming days. This begs the question: What should be one's approach towards IPOs?

We believe that one should not get swayed away by the buoyancy surrounding IPOs. Instead, what one should look for in IPOs are the fundamentals of the business and the attractiveness of valuations.

Giving a doubtful IPO a miss can in no way reduce your chances to create long-term wealth. There are several big IPOs in the pipeline in the last few months of 2016. In case you wish to run them through a handy checklist, we have something for you. Download our Handbook of IPOs to be able to pick only the right ones for you.

On the news from currency markets, the dollar is witnessing buying interest today. The greenback held near nine-months high against a basket of major currencies.

Gains were seen as solid US manufacturing activity and comments from a Federal Reserve official cemented expectations of a US rate hike by year-end.

The dollar also witnessed buying interest during the last week as the ECB stood pat on interest rates.

To keep a tab on the movements in dollar and other currencies, you can read the stock market commentary from the Daily Profit Hunter team. Their commentary tracks the developments in the global economy as well as stock, currency and commodity markets.

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