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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian markets open flat 
(Thu, 5 Feb 09:30 am) 
 
The major Asian stock markets have opened the day on a weak note with Japan (down 1%) and Korea (down 0.8%) leading the pack of losers. However, the Indian markets have opened on a positive note. Most of the sectoral indices are trading in the green with stocks from IT and capital goods witnessing maximum buying interest. However, oil and gas and auto stocks are trading weak.

BSE-Sensex is currently trading up by about 60 points (up 0.2%), while the NSE-Nifty is higher by about 13 points (up 0.17%). Both BSE Mid Cap and BSE Small Cap have too opened the day in green, up by 0.24% and 0.28 % respectively. The rupee was trading at Rs 61.87 to the dollar.

Oil & gas stocks have opened in the red. Reliance Industries raised about US$ 750 m via issue of bonds to global investors recently. This is the second time within a span of few days that the company has decided to raise money via debt from foreign markets. Recently, the company had raised US$ 1 bn by selling 10 years bonds which carried an interest of 4.125%. However, the current offering would carry an interest rate of 4.875%. Considering lower interest rate abroad most companies prefer to borrow overseas. However, such an approach also carries foreign exchange risk which if not hedged can upset the advantage of lower cost of debt.

Telecom stocks have opened the day on a weak note. Telecom major, Bharti Airtel reported its results yesterday. Topline increased 6% YoY to Rs 232 bn. However, bottomline rose over two fold to Rs 14 bn in 3QFY15 despite the company incurring an exceptional loss during the quarter. Consolidated average revenue per user (ARPU) stood at Rs 202 for 3QFY15 as compared to Rs 198 in the preceding quarter. Operating profits stood at Rs 77 bn while the margins came in at 33.5% during the quarter.

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Jul 24, 2017 (Close)

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