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?  

Dear Visitor: Equitymaster will be under maintenance from 10:00AM to 11.30AM on Sunday, 25 March 2018. During this period, our websites will be accessible though there is a possibility of some intermittent accessibility issues. Please bear with us. We are taking yet another step to make browsing Equitymaster a much faster experience! Thank you.

Indian share markets open weak
Thu, 24 Jan 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in Malaysia (up 0.4%) and Japan (up 0.4%) trading firm. However, markets in Hong Kong (down 0.2%), South Korea (down 0.4%) and Taiwan (down 0.4%) are facing selling pressure. The Indian share market indices have opened the day on a weak note. Stocks in the auto and realty space are leading the losses. However, FMCG and software stocks are trading in the green.

The Sensex today is down by around 32 points (0.2%), while the NSE-Nifty is down by around 8 points (0.1%). The mid cap and small cap stocks have opened in the red with the BSE Mid Cap and BSE Small Cap indices down by 0.7% and 0.2% respectively. The rupee is trading at Rs 53.71 to the US dollar.

Energy stocks have opened the day on a mixed note with Oil India Ltd (OIL) and Oil & Natural Gas Corporation Ltd (ONGC) leading the pack of gainers. However, Gujarat State Petronet Ltd (GSPL) and Chennai Petroleum Corporation Ltd (CPCL) have opened on a weak note. As per a leading financial daily, Reliance Industries Ltd (RIL) has closed its eighth well (out of a total of 22 wells) on main gas fields in KG - D6 block. With the shutdown of the well, the gas output has hit an all time low of 20.88 million standard cubic meters per day (mscmd). As per a status report prepared by the petroleum ministry's technical arm, the Directorate General of Hydrocarbons (DGH), RIL shut the well B6 on the main producing fields of Dhiburbhai-1 and 3 (D1&D3) in the KG-D6 block on 9 January due to water loading.RIL has drilled 22 wells on D1&D3 fields but has put only 18 on production so far. The petroleum ministry has withheld approvals for expenditure on repair work as RIL is reluctant to give the Comptroller and Auditor General of India (CAG) access of its books to conduct a second round of audit. The audit has since begun but the approvals haven't come yet. As per DGH report, the company has projected an output of 22 mscmd in January 2013.

Pharma stocks have opened the day on a mixed note with Aurobindo Pharma Ltd and Dr Reddy's Ltd (DRL) trading weak. However, Sun Pharmaceuticals Ltd and Divis Laboratories Ltd have opened in the green. Novartis India has announced its results for the third quarter of the fiscal year 2013 (3QFY13). The firm has reported a 5% year on year (YoY) increase in the net sales for the quarter. The company's core business of pharmaceuticals registered revenue growth of 5.5% YoY. The growth in the generic business and animal health business came at 10.6% YoY and 14.5% YoY respectively for the quarter. The company's total expenses for the quarter increased by 14.0% YoY. The operating margins for the quarter declined by 7% YoY. The net profits for the quarter were down by 24.3% YoY.

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 share markets open weak". Click here!


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


Mar 23, 2018 (Close)