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 Indices Open Firm
Mon, 14 Mar 09:30 am

Major Asian stock markets have opened the day on an encouraging note. The stock market in China and Japan are trading higher by 2.5% and 1.8% respectively. Major indices in Europe and US ended their previous session in green with stock markets in Germany ending the day higher by 3.4%. The rupee is trading at 67.08 per US$.

Indian stock markets have too opened the day on a positive note. The BSE Sensex is trading higher by 163 points (up 0.7%) and NSE Nifty is trading higher by 46 point (up 0.6%). BSE Mid Cap and BSE Small Cap is trading higher by 0.8% and 0.6% respectively. Barring metal sector, major sectoral indices have opened the day in green. The stocks from banking and fmcg space are the leading gainers in the pack.

As per an article in Livemint, factory output has contracted for the third month in a row during January. The Index of Industrial Production (IIP) shrank by 1.5% YoY on account of significant drop in the manufacturing activities. Manufacturing activities that accounts for almost two-third in overall weightage in IIP, contracted by 2.8% YoY. This was mainly on account of fall in the production of capital goods and consumables. The production of capital goods declined by 20.4% YoY, indicating the growth momentum in the economy remains vulnerable. However, mining and electricity sector grew by 1.2% and 6.6% respectively.

While the, budget made significant increases in allocations for national highway and railways sectors to boost infrastructure investment in the absence of recovery in private investment. However, positive developments from the same could possibly be witnessed over the long term. In the short run the constraints are likely to sustain.

As per an article in leading financial daily, solar tariffs have fallen below Rs 5 per kilowatt hour (KWH) to Rs 4.34 per unit. The fall in the tariffs is on account of stiff competition developing in this sector. However, such low tariffs raise questions regarding the viability and profitability of the business.

Reportedly, many projects which were secured at low tariffs are awaiting financial closure. Further, the projects booked below Rs 4.6 per unit will have thin margins and ensuring financial viability will be a major concern. Further, most of the raw materials for the project are imported from foreign countries leading to a risk in terms of foreign exchange fluctuation.

Therefore, even the Indian banks are unwilling to fund such projects due to concerns over the low internal rate of return. Under such a scenario it would be very difficult for the government to achieve the solar mission 2022 target.

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 Indices Open Firm". 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


Nov 23, 2017 (Close)