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
  • MyStocks


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

Indian equity markets remain weak
Thu, 31 Jan 11:30 am

Indian equity markets have remained in the red during the previous two hours of trade. The most noticeable upward movements continue to be witnessed in the Realty and Consumer Durables sectors while FMCG and Metals languished in the red.

The BSE Sensex is down by 46 points and NSE-Nifty is down by 10 points. BSE Mid Cap index and BSE Small Cap index are trading higher by 0.13% and 0.07% respectively. The rupee is trading at 53.22 to the US dollar.

Engineering stocks are trading on a mixed note with Suzlon Energy and Punj Lloyd leading the gains while KSB Pumps and Kalpataru Power are facing the most selling pressures. Crompton Greaves shares slipped to a 52 week low of Rs 100 in the early hours of trade on Wednesday after it reported a consolidated net loss of Rs 189 crore in 3QFY13. According to the company, dismal performance of the international subsidiaries and cost of relocating its factory from Belgium to Hungary were primarily responsible for the poor results. Consolidated net sales declined by 1.85% YoY to Rs 2972 crore in 3QFY13. The margins of the domestic power segment also slipped in 3QFY13. The company is however optimistic with the fact the shift of manufacturing facility from Belgium to Hungary would result in 15% cost savings in the long run, while the revival of operating margin would largely depend on the operational restructuring that is underway. The stock closed at Rs 107.55 at the end of Wednesday and is now trading up by 0.9%.

Private sector banking stocks are also trading on a mixed note with South Indian Bank and Federal Bank leading the gains while ICICI Bank and Karnataka Bank leading the losses. HDFC Bank has reduced rates on car, motorcycle and truck loans by 25 to 50 bps post the decision by Reserve Bank of India (RBI) to reduce base rate and cash reserve ratio on Wednesday. HDFC Bank has been offering car loans with interest rates between 10.75% and 11.75%. Subsequent to the rate cut, the rates would be in the range of 10.5% to 11.5% for repayment periods between 36 and 60 months. The interest rates for two-wheeler loans would be between 19.25% and 22.25% while the rate on heavy trucks loan will fall by 0.25% to 11%. ICICI Bank and Axis Bank are also expected to come up with rate cut plans soon. With the fall in lending rates, deposit rates are expected to follow suit. This will mean an uptick in net interest margins for banks.

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 equity markets remain 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 16, 2018 (Close)