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 Indices remain weak
Mon, 9 Feb 01:30 pm

The Indian markets continued the streak of profit booking in the post noon trading session. All the sectoral indices were trading in the red. Stocks from metal and capital goods sector witnessed maximum selling pressure. The BSE-Sensex is down 287 points and NSE-Nifty is trading 79 points down. BSE Mid Cap and BSE Small Cap indices are also trading in the red (down 0.7% each) . The rupee is trading at 61.73 to the US dollar.

Barring Sanofi India, all the MNC pharma stocks are trading in the red. According to a leading financial daily, US pharmaceutical giant Pfizer is expected to get three manufacturing facilities from Hospira in the country. This is a part of Pfizer's US$17 bn acquisition of Hospira. Hospira has two facilities in Chennai and is on the verge of setting up another facility in Vishakapatnam at a cost of around US$400 m. Meanwhile, Pfizer has only one facility in India and relies on third party manufacturers for local supplies. Pfizer is currently trading down by 0.2% on the BSE.

Software stocks are trading positive with Datamatics global and Rolta India leading the gains. However, Sasken Communication and Finacial Tech were facing selling pressure. As per a leading financial daily, Mindtree has stated that it is working with the Kellogg Company, a leading cereal company and second largest producer of cookies, crackers and savory snacks, to manage its global digital marketing platform. Mindtree will manage and support the marketing IT infrastructure to execute Kellogg's brand efforts and digital marketing innovation across 400+ digital properties. Reportedly, Mindtree will support Kellogg's industry leading digital initiatives with more than 100 monthly production deployments. Mindtree will partner 10 creative and digital agencies and special attention will be focused on quick turnarounds and increasing speed to market.

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 Indices remain weak". 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.