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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian stock markets open weak 
(Wed, 1 Apr 09:30 am) 
 
Asian indices trade on a mixed note as investors provided traction towards better than expected Chinese economic data. The manufacturing data of China came in at 50.1 compared to expectations of 49.7 and previous reading of 49.9. This boosted investor sentiment. However, Japanese, Taiwan and Korean stocks continue to trade in the red as deadline for striking a nuclear deal that involves Iran got delayed. While the Chinese and Hong Kong stocks are trading with optimism with gains of 0.8% and 0.6%, respectively; Japanese, Taiwan and Korean stocks are trading lower by 1%, 0.7% and 0.6%, respectively.

Indian markets opened today's session on a negative note as below than expected core sectors' growth weigh on equities. While BSE Sensex is trading with 0.10% losses, NSE-Nifty is trading with a loss of 18 points. Sectoral indices are trading mixed. IT sector is trading with maximum losses while capital goods continue to gain investors interest. BSE Mid Cap and BSE Small Cap stocks are trading in green. While midcap stocks gained 0.2%, small cap stocks are trading with 0.3% gains.

Commodity prices pared early losses and closed on a mixed note. While the gold prices, per 10 grams, closed with moderate losses of 0.3% or Rs 66; silver prices closed with a loss of 0.8% or Rs 297 loss. Gold prices are available at Rs 26,200 levels while the silver prices are available at Rs 37,170 levels. Investors focus towards Greece crisis and Iran striking a nuclear deal with world powers drove the commodity prices. Crude oil prices gained moderately by 0.3% or Rs 8 and per barrel is available at Rs 3,025.

According to the data reported by the Government of India, the core sector growth fell to 1.4% for the month of January. The growth has fallen to 16-month low levels. The month of December witnessed a reading of 1.8% and on a YoY basis the growth was 1.6%. Output in Natural Gas and Steel sector contracted most, which impacted the overall growth of the core sector. Factors that negatively affected the growth are Steel, Natural Gas Production, Crude, Refinery Products, and Fertilizers which fell 4.4%, 8.1%, 1.9%, 1% and 0.4% respectively. Coal, Cement and electricity grew by 11.6%, 2.7% and 5.2%, respectively. These eight core industries that form 38% of the factors that constitute Industrial Production.

Engineering bellwether Larsen & Toubro is won a couple of orders this week. The company bagged an order that is valued to be Rs 14.32 bn. The order has been awarded by the Defence Ministry. The order involves constructing and designing seven Offshore Patrol Vehicles (OPVs) for the Indian Coat Guards (ICG). The first OPV is expected to be delivered by the company within 36 months of signing the contract. The order has been awarded by the Defence Ministry keeping in focus the "Make in India" campaign started by the Government of India. Apart from this, L&T is already working on a project, awarded by the Defence Ministry" that involves designing and constructing 54 fast interceptor boats of which 25 has already been delivered. Kalapatru Power and Jyoti Structures are trading with maximum gains in the sector.

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Jul 20, 2017 (Close)

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