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 share markets open in the red
Mon, 18 Mar 09:30 am

The major Asian stock markets have opened the day on a weak note with stock markets in Hong Kong (down 2.1%) and Japan (down 2.1%) leading the losses. The Indian share markets indices have also opened the day in the negative. Barring FMCG, all sectoral indices have opened in the red led by the stocks in the realty and metal space.

The Sensex today is down by around 163 points (0.8%), while the NSE-Nifty is down by 50 points (0.8%). Mid and small cap stocks have also opened in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.7% and 0.3% respectively. The rupee is trading at Rs 54.33 to the US dollar.

Energy stocks have opened the day mainly in the red with Indraprastha Gas Ltd (IGL) and Chennai Petroleum Corporation Ltd leading the losses. However, Indian Oil Corporation Ltd (IOC) and Castrol Ltd are trading firm. As per a leading financial daily, state run oil companies - IOC, Bharat Petroleum Corporation Ltd (BPCL), Hindustan Petroleum Corporation Ltd (HPCL) and Engineers India Ltd (EIL) have evinced interest in buying stake in Rs 90 bn gas pipeline between Surat and Paradip. It was in April last year that Gas Authority of India Ltd (GAIL) secured rights to lay the pipeline with a capacity to transport up to 60 million standard cubic metres a day (mscmd). As per GAIL's management, the company has not yet concluded the joint venture structure. It intends to complete the pipeline by 2015-16. While GAIL will hold 51% stake in the pipeline, the other state run firms plan to secure capacity for their own use through equity investment.

Engineering stocks have opened the day mainly in the red with Sanghvi Movers Ltd and Manugraph India Ltd leading the losses. However, Kalapataru Power and Alstom Projects are trading firm. As per a leading financial daily, Larsen & Toubro Ltd's infrastructural arm L&T Infrastructure Development Projects is in advanced negotiations to divest up to 20% stake to marquee investors, including Malaysian sovereign fund Khazanah. The division handles assets worth Rs 450 bn. The proposed transaction is likely to value the infrastructure company at around Rs 125 bn. As such, funds worth around Rs 25 bn are likely to be raised by selling stakes to potential investors. The management has declined to comment on the matter.

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 share markets open in the red". 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.