Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian stock markets move higher
Wed, 8 Feb 11:30 am

Indian stock market indices traded strong over the last two hours of trade on the back of heavy buying activity witnessed across index heavyweights. Realty and Consumer Durable stocks witnessed maximum buying interest.

The BSE-Sensex is up by 135 points, while the NSE-Nifty is up by 37 points. BSE Mid cap index and the BSE Small cap index are up by 1.18% and 1.28% respectively. The rupee is trading at 49.05 to the US dollar.

Aluminium stocks are trading mixed with Hindalco trading in the green, while Nalco is trading in the red. State run National Aluminium Company Limited (NALCO) has announced results for the quarter ended December 2012. The company reported a 0.4% YoY increase in net sales and an 80% YoY decline in net profits. Operating profits declined by 83.6% YoY on account of higher expenditure and lower LME (London Metal Exchange) aluminium prices. The sharp drop in LME aluminium prices has made it unviable for several aluminium producers across the globe to operate, forcing them to partially shut down smelters. For the nine months ended December 2011, net sales increased by 14.1% and net profits declined by 23.1% as compared to the same quarter previous year.

Steel stocks are trading strong led by Tayo Rolls and JSW Ispat. As per a leading daily, Steel Authority of India Limited (SAIL) will be hiking the prices of long products by up to Rs 3,000 per tonne. The hike will be effective from February 1, 2012. The steel company has raised the prices of TMT bars by Rs 2,500 per tonne and that of angles by Rs 3,000 per tonne. The revised prices of TMT bars and angles are Rs 40,000 per tonne and Rs 37,500 per tonne respectively. Channels are now priced at Rs 37,500 per tonne up from earlier Rs 35,000 per tonne. SAIL has kept prices for hot-rolled and cold-rolled coils unchanged. It may be noted that construction activity has gathered pace in the country and TMT bars, angles and channels are used in the construction sector.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian stock markets move higher". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.