Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian markets open firm
Thu, 8 Jan 09:30 am

Barring China market (down 1.8%), most of the major Asian stock markets have opened the day on on a positive note. Japan market (up 2%) and Taiwan market (up 1.7%) are leading the pack of gainers. The Indian markets have also opened the day on a firm note with realty and power spaces leading the pack of gainers.

BSE-Sensex currently trading higher by about 232 points (up 0.9%) , while the NSE-Nifty is up by about 73 points (up 0.9%). BSE Mid Cap and smallcaps have opened the day on a positive note as well with their respective indices up by about 1.4% each. The rupee was trading at Rs 63.45 to the dollar.

Stocks of FMCG companies have opened the day on a positive note with Colgate, Nestle and Hindustan Unilever leading the pack. As per a leading business daily, FMCG major ITC is looking to invest Rs 250 bn over the next five years across verticals. These include cigarettes, hotels, agriculture, paperboards, FMCG and IT. As per the company, it is currently working on as many as 40 projects which are in various stages of implementations. A few days ago, it was reported that ITC Infotech is looking for acquisitions in Europe and North America as it strategy to build a mid-sized business. The company is believed to have identified targets and development on this front is expected over the next six months.

Over the past two years, the company has invested sums of Rs 70 to Rs 80 bn, with majority of spending going towards the cigarette, hotel, FMCG and paperboards businesses. As per the data in its FY14 annual report, about Rs 10 bn was spent in the cigarette division, followed by paper boards and FMCG with sums of about Rs 6.6 bn and 4.6 bn respectively.

IT stocks have opened the day on a firm note led by Hexaware Technologies, Wipro and Mphasis. IT major Wipro is amongst the top performing stocks amongst stocks forming part of the Sensex on news of the company winning a contract worth US$ 400 m from engineering giant ABB. As reported, the company will maintain the back end technology of Zurich based ABB. This is the second biggest contract won by the company after last year US$ 1.2 bn contract it bagged from ATCO, a Canadian utility. The stock of Wipro has been quite volatile in the past few months, especially after the latest results disappointed the market. While the company's revenues were up by 5% on a QoQ basis, its profit were down by 1% on a sequential basis, with operating profits falling by 3.5% QoQ. Margins took a beating due to the wage hike given from the month of June 2014.

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

Equitymaster requests your view! Post a comment on "Indian markets open firm". Click here!


Views on News

Two Meetings That Nailed the Idea of Owning Brilliant Smallcaps Without Buying Them (The 5 Minute Wrapup)

Mar 22, 2018

Certain blue chips hold the potential of delivering returns comparable to small-cap stocks. With these stocks, you can get the best of both worlds.

What They Forgot to Tell You About Sensex at One Lakh (Profit Hunter)

Nov 29, 2017

Stocks that could beat Sensex returns in the long term.

Is Your Bank Gambling With Your Money? These Banks Should be Declared Dangerous... (Profit Hunter)

Jul 17, 2018

Tanushree Banerjee bets you would not want to leave your money with these unsafe banks...

Your Rescue Plan from the Cave of Poor Quality Stocks (The 5 Minute Wrapup)

Jul 17, 2018

And there will be no getting trapped with Amtek, Vakrangee, or Manpasand like stocks.

2019 Lok Sabha Elections and the Perils of Populism (Vivek Kaul's Diary)

Jul 17, 2018

Evidence from around the world shows that populism can only lead to more populism and this is clearly not good news for the Indian economy.

More Views on News

Most Popular

The Real Truth About India's FDI, Beyond WhatsApp(Vivek Kaul's Diary)

Jul 4, 2018

The FDI numbers do not look very impressive once we adjust for repatriations as well as the overall growth in the economy.

How to Avoid a 90% Loss Suffered by This Super Investor(The 5 Minute Wrapup)

Jul 12, 2018

Blindly following super investors is a dangerous game to play. Here's how you can avoid such mistakes.

The Answer to Your Wealth Worries: Small Caps (Especially Now)(Profit Hunter)

Jul 10, 2018

If you're worried about the markets - you are on the wrong track. This is opportunity - put your wealth-building hat on, instead - Richa shows you how...

New Fund Offer - ICICI Prudential Pharma Healthcare and Diagnostics Fund - Should You Invest?(Outside View)

Jul 6, 2018

ICICI AMC launches an open -ended equity fund following Pharma, Healthcare, Diagnostic and allied theme.

When Disappointment Panda is Around. Buy Quality Stock like This!(Chart Of The Day)

Jul 6, 2018

Buy Companies that can fight all kinds of Pandas and Bears in the long run.


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Jul 17, 2018 03:01 PM