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 open firm
Mon, 2 Mar 09:30 am

The major Asian stock markets have opened the day on mixed note with Taiwan market (down 0.3%) and Singapore market (down 0.1%), leading the losses. However, stock markets in Japan (up 0.3%) and China (up 0.3%) have opened on a positive note.

The Indian share markets have opened the day on a firm note post the Budget day. The sectoral indices have opened mixed with, capital goods, banking stocks and oil and gas stocks being the leading gainers. However stocks from FMCG and consumer durables are witnessing selling pressures

The Sensex today is up by around 200 points (0.7%), while the NSE-Nifty is up by about 67 points (0.7%). Both mid cap and small cap stocks have too opened firm. The BSE Mid Cap and BSE Small Cap index are up by around 0.4% each. The rupee is currently trading at Rs 61.79 to the US dollar.

The price of aviation turbine fuel (ATF) was increased by 8.2% on Sunday due to an increase in international oil prices. This hike has come after 7 consecutive cuts since the month of August 2014. It may be noted that ATF constitutes about 40% of any airlines' operating cost and hence an increase in the fuel price is likely to hurt an already cash strapped industry. Apart from an increase in ATF, prices of non- subsidized LPG cylinders have also been increased by Rs 5 in Delhi. This may not have much of an impact on consumers considering that a quota of 12 odd cylinders is available at subsidized rates to every household. Only those who consume more than the prescribed quota will be impacted by the hike.

Food and Tobbaco stocks have opened mixed with Wadala commodities and Golden Tobbaco leading among gainers. On the hand Goodfrey Phillips and VST industries have are biggest losers in the pack. ITC turned out to be the biggest loser on the Budget day trading session. The stock lost about 9% of its value as the fresh taxes were imposed on cigarettes. The excise duty has been increased by 25%. However, this is applicable on those cigarette products whose length does not exceed 65mm. On other cigarette products, the excise duty has been increased by 15%. The excise duty on tobacco has increased to Rs 70 per kg from Rs 60 per kg. The stock has opened down by 2% today.

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 open firm". 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.