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?  

FMCG & IT stocks drag markets lower
Tue, 4 Feb 11:30 am

After opening weak, the Indian indices are trading well below the dotted line in the morning session. The buying interest is the highest in banking stocks. The selling pressure is the highest in software and FMCG stocks.

The BSE-Sensex is trading down 160 points and the NSE-Nifty is trading down 40 points. The BSE Mid Cap index is trading down 0.3% and the BSE Small Cap index is trading down 0.6%. The rupee is trading at 62.63 to the US dollar.

The last session of the Indian Parliament before the general elections will begin tomorrow. There seems to be no chance of the passage of key bills in the session. The vote on account budget would be passed but very few other bills are being considered for debate. The finance minister has said that the maximum that can be achieved would be minor changes in indirect tax rates. Important bills like the GST, DTC, FMC and the Insurance bill will not be brought up for discussion. However the SEBI (amendment) bill would be brought up. This bill, if passed, would empower SEBI to regulate collective deposit schemes. The last parliament session of the 15th Lok Sabha will last for about 12 days to pass the vote on account budget which will allow limited government spending until the next government assumes office.

Engineering stocks are trading mixed today. While Everest Kanto Cylinder and Engineers India are among the stocks leading the gainers; Honeywell Automation and TRF Ltd are among the stocks leading the losses. AIA Engineering has announced results for 3QFY14. The topline has grown by 26.5% YoY and the bottomline by 24.7% YoY. The good performance was driven by a better product mix as well as a better realization rate of about Rs 60 to the US$. The operating profit grew by 45.4% YoY and the operating margins improved to 22.9% compared to 19.9% in 3QFY13. The average realization for the quarter stood at Rs 120 per Kg up from Rs 110 per Kg seen in the last quarter. AIA Engineering is trading up 3.3% today.

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 "FMCG & IT stocks drag markets lower". 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


Feb 23, 2018 (Close)