The major Asian stock markets have opened the day on mixed note with stock markets in China (down 1.2%) and Taiwan down 0.2%), leading the losses. However, stock markets in Japan (up 0.8%) and Singapore (up 0.2%) have opened on a positive note. The Indian markets have opened on a weak note. Among the sectoral indices, stocks from metal and oil and gas are witnessing maximum selling pressures.
BSE-Sensex is currently trading lower by about 25 points (down 0.08%), while the NSE-Nifty is lower by about 4 points (down 0.04%). However, both Midcap and small caps have opened firm. The BSE Mid Cap and BSE Small Cap are up by 0.55 % and 0.42% respectively. The rupee was trading at Rs 61.49 to the dollar.
Majority of the Indian Pharma stocks have opened in the green with Elder pharma and Wockhardt being the leading gainers in the pack. Dr Reddy's Laboratories has reported results for the quarter ending December 2014. The topline grew by 9% YoY during the quarter, led by growth in the Pharmaceuticals Services and Active Ingredients (PSAI) segment. In the global generics segment, growth was moderate. Due to ongoing issues in Russia, the revenues from Russia also declined. On the back of this poor operating performance and sharp surge in interest expenses, the bottom line declined by 7% YoY.
Automobile stocks have opened the day on a firm note led by Ashok Leyland and Maruti Suzuki. As per a leading financial daily, India's largest automobile company by revenues - Tata Motors, is planning to raise its capex by Rs 100 bn. The company is targeting to make a strong comeback in the domestic market. The average annual capex incurred in last three years is around Rs 250-300 bn.To expand its operations, the company is also coming up with the rights issue and is looking forward to raise Rs 75 bn from this issue.
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
What else is happening in the markets today? Dig in...
PersonalFN analyses the features of ITI Mid-Cap Fund and explains the potential this fund has to offer to its investors.
In today's video, I'll discuss why thew stock market went up on Wednesday, 24 February 2021, when the NSE had to shut trading due to a technical glitch.
You my personal trading checklist and you will be well on your way to making it big as a trader.
In this video, I'll show you how to get started on the path to daily trading profits.
Timely review of your investment portfolio is the key, to enable stable returns and work towards your envisioned financial goals during various market phases.
More Views on NewsLast time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.
In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.
A look at what India's top equity mutual funds bought and sold in January 2021.
Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.
More
Equitymaster requests your view! Post a comment on "Indian markets open in the red". Click here!
Comments are moderated by Equitymaster, in accordance with the Terms of Use, and may not appear
on this article until they have been reviewed and deemed appropriate for posting.
In the meantime, you may want to share this article with your friends!