Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian share markets widen losses
Fri, 4 Jan 01:30 pm

Indian share markets fell deeper in red in the post noon trading session. Majority of the sectoral indices are trading negative with metal, realty and FMCG leading the losses. Oil and gas and IT are among the few stocks trading in green.

BSE- Sensex is down 70 points and NSE- Nifty is trading down 24 points. While BSE Mid Cap is trading down marginally, BSE Small Cap index is trading up by 0.1%. The rupee is trading at 54.8 to the US dollar.

Majority of the mining stocks are trading in red with Ashapura Minechem and Sesa Goa being the biggest losers. According to a leading financial daily, National Mineral Development Corporation (NMDC) has cut the price of its common grade iron ore by almost 6%. This price cut is expected to lower inputs costs for domestic steelmakers like JSW Steel and Essar Steel that had to rely on costly imports due to government clamp-down on illegal iron-ore mining. The country imported 9 m tonnes of iron-ore during April-November 2012 with overall imports expected to reach 15 m tonnes by the end of FY13. NMDC stock is currently up by 0.8%.

Most of the energy stocks are trading positive with Hindustan Petroleum Corporation Ltd (HPCL) and Chennai Petroleum being the biggest gainers. As per a leading financial daily, Petronet LNG's Rs 42 bn LNG terminal at Kochi would be commissioned by the end of March 2013. The work on the 5 million tonne per annum capacity terminal is almost complete and the final testing on some equipment is going on. The Kochi terminal is the company's second LNG terminal after Dahej in Gujarat and is expected to operate at around 20% of its capacity, initially. In the second phase of the project, pipeline would be laid upto Bangalore by Gas Authority Of India Ltd. (GAIL) for which the construction will take at least a year. Petronet LNG stock is presently 0.6% up.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets widen losses". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.