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 open in the red
Tue, 8 Jan 09:30 am

Barring Indonesia (up 0.3%), the major Asian stock markets have opened the day on a weak note with stock markets in Taiwan (down 0.5%), Hong Kong (down 0.5%) and Japan (down 0.5%) leading the losses. The Indian share market indices have opened the day in the red as well. The sectoral indices have opened mixed with stocks in the pharma and auto space leading the gains. However, capital goods stocks and metal stocks are facing selling pressure.

The Sensex today is down by around 27 points (0.1%), while the NSE-Nifty is down by around 11 points (0.2%). Mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.2% each. The rupee is trading at Rs 55.11 to the US dollar.

Steel stocks have opened mixed with Tayo Rolls Ltd and Tata Sponge Ltd leading the gains. However, Steel Authority of India Ltd and JSW Ispat Ltd were facing selling pressure. As per a leading financial daily, the Government has imposed safeguard duty at a rate of 20 % on imports of a certain variety of stainless steel from China. It is important to note here that safeguard duty is a temporary measure taken for a certain time-frame to protect domestic players from cheap Chinese imports. Currently, the government levies a 5 % import duty on imports of stainless steel. The move is likely to help domestic stainless steel industry that has surplus stainless steel production capacity at about 3.5 million tonnes per annum (MTPA).

Auto stocks have opened the day mainly in green with Force Motors Ltd and Maharashtra Scooters Ltd leading the gains. As per a leading financial daily, Tata Motors Ltd has introduced a warranty of four years on its entire range of heavy trucks with 25 tonnes and higher gross vehicle weight (GVW). With this, the company has become the first in India to offer a standard warranty of four years on heavy trucks. The warranty will be applicable to the full range of tractor trailers, multi-axle trucks and tippers of 25 tonnes GVW sold after January 6, 2013. As per the management, the company accounts for two of every three tractor trailers, multi-axle trucks and tippers (with 25-tonne GVW or higher) sold in the country.

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 open in the red". 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.