Sensex Falls 200 Points; Kotak Mahindra Bank & IndusInd Bank Top Losers

Share markets in India are presently trading on a negative note tracking weak global markets.

Sectoral indices are trading mixed with stocks in the metal sectorrealty sector and banking sector witnessing selling pressure, while consumer durable stocks are witnessing buying interest.

The BSE Sensex is trading down by 197 points (down 0.5%), while the NSE Nifty is trading down by 57 points (down 0.5%).

The BSE Mid Cap index is trading down by 0.3%, while the BSE Small-Cap index is trading down by 0.1%.

The rupee is currently trading at Rs 71.46 against the US$.

Speaking of Indian stock markets, in his latest video, Rahul Shah outlines the action you can take if the bull market of 2019 by passed you.

Market participants are tracking Nestle share priceAtul Auto share price, and Gillette share price as these companies will announce their December quarter results later today.

In news from the engineering sector, Bharat Heavy Electricals (BHEL) has signed a memorandum of understanding (MoU) with Rosoboronexport, Russia.

The aim of this MoU is to cooperate and undertake joint projects and operations for defence systems. This will help in leveraging BHEL's capabilities in the defence sector in association with Russian OEMs under the 'Make in India' initiative and offer indigenous support and solutions to the Indian defence forces.

Earlier this week, the company reported 17.2% YoY drop in consolidated net profit at Rs 1,626.7 million as compared to Rs 1,964.8 million reported in the same period last year.

Sales of the company declined 23.3% to Rs 54.6 billion. Total expenditure declined to Rs 56.1 billion in Q3FY20 over Rs 72.9 billion in Q3FY19.

BHEL share price is presently trading up by 1.1%.

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

Moving on to news from the railways sector, Indian Railway Catering & Tourism Corporation (IRCTC) on Wednesday posted a 179.7% year-on-year (YoY) rise in profit at Rs 2,058 million for the quarter ended December 31. The figure stood at Rs 735.9 million in the corresponding quarter last year.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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