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 firm
Fri, 28 Mar 09:30 am

Barring Malaysia (down 0.2%), major Asian stock markets have opened the day on a firm note with the stock markets in Hong Kong (up 1.3%) and Indonesia (up 0.9%) leading the gains. The Indian share markets have also opened the day on a firm note. Barring FMCG and capital goods, all sectoral indices have opened in the green with stocks in the realty and banking space leading the gains.

The Sensex today is up by around 70 points (0.3%), while the NSE-Nifty is up by about 22 points (0.3%). The mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.7% and 0.6% respectively. The rupee is currently trading at Rs 60.24 to the US dollar.

Engineering stocks have opened the day on a firm note with Suzlon Energy and Jyoti Structures Ltd leading the gains. As per a leading financial daily, engineering major Larsen & Toubro (L&T) has bagged contracts worth Rs 19.81 bn in the housing sector this month. The company has won a major residential order in Bangalore from one of South India's leading property dealers. It is worth noting that this is the company's biggest residential order this year. The scope of work involves construction of 24 towers and 271 villas. The towers will comprise two basements and a ground floor with levels varying from 18 to 29 floors. The expected timeline for the completion of the project is 42 months. In addition to this project, the company has bagged another order which pertains to construction of a residential township in Gujarat with 134 housing units on turnkey basis.

Private bank stocks have opened the day in the green with Lakshmi Vilas Bank and IndusInd Bank leading the pack of gainers. As per a leading financial daily, India's third largest private sector lender Axis Bank has launched the 'Kisan Card' through which a farmer can withdraw up to Rs 1 lakh per day from automated teller machines (ATM). The card will provide easy, round-the-clock liquidity access to farmers. It must be noted that the Kisan Card will be offered to agrarian customers on their cash credit crop loan accounts. Currently, about 90-95% of such customers come to the bank branch for transactions. However, with the launch of Kisan Card, the bank expects 30-40% farmers to migrate to this alternate channel. Apart from facilitating easy access to liquidity, it will also help them cut down the interest burden as the interest payments start after the money drawn.

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 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.