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?  

Indian markets drift lower
Fri, 14 Mar 11:30 am

After opening weak, the Indian indices are trading well below the dotted line in the morning session. Apart from pharma stocks, all sectoral indices are trading in the red. The selling pressure is highest engineering and banking stocks.

The BSE-Sensex is trading down 150 points and the NSE-Nifty is trading down 45 points. The BSE Mid Cap index is trading down 0.6% and the BSE Small Cap index is trading down 0.7%. The rupee is trading at 61.49 to the US dollar.

Most software stocks are trading lower today. HCL Technologies and Wipro are among the stocks leading the losses. India's third largest software firm, Wipro, has entered into a strategic partnership with a US based firm, SGI. Under the partnership, Wipro will provide SGI with software support in the areas of big data analytics, business intelligence and other digital technologies. It will also help the company expand its operations in India. Wipro has been increasing its presence in the digital space for a while now and is keen on winning larger deals. The financial details of this partnership were not disclosed by the company. Wipro is trading down 1.4% today.

Most telecom stocks are trading lower today. Bharti Airtel and Idea Cellular are among the stocks leading the losses. As per a leading business daily, India's largest telecom service provider, Bharti Airtel, will raise about Rs 24.36 bn via a European bond issue. The bonds are to be denominated in Swiss currency and have been priced at 230 basis points over the 6 year benchmark Swiss bond. It has been rated as investment grade by S&P and Moodys and has a coupon rate of 3%. The issue is open for subscription to European investors. Bharti will use the funds to refinance the higher cost rupee denominated debt on its balance sheet. Bharti Airtel is trading down 2% 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 "Indian markets drift 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 21, 2018 03:35 PM