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?  

Markets down 1.8% for the week
Fri, 4 May Closing

Indices in the Indian stock markets witnessed more selling pressure during the closing stages and as a consequence, closed significantly lower for the day as well as the week. While BSE-Sensex edged lower by around 320 points (down 1.9%), fall on the NSE-Nifty came in at around 100 points. The BSE Mid cap and BSE Small cap indices were equally badly hit, edging lower by around 2% each. Only about 4 stocks on the Sensex managed to keep their head above the water.

Most Asian stocks also closed lower today with Europe too trading in the red currently. The rupee was placed at Rs 53.9 to the dollar at the time of writing.

India emerged as the worst performer amongst major Asian indices today. This shows that the fall today had an India angle to it rather than being driven internationally. Perhaps the biggest reason why the indices fell had to do with the Government's announcement that it is reviewing its tax treaty with Mauritius. With a chunk of foreign investors operating out of Mauritius, the news obviously led to sell off on the indices. However, this could be a boon in disguise for long term investors as more forced selling could make fundamentally strong attacks attractive from a long term perspective.

Pharma major Dr Reddy's has received US Food and Drug Administration's approval for selling ibandronate sodium tablets used to treat osteoporosis. The tablets are believed to be the generic version of Boniva, a brand of Swiss drugmaker Roche. The osteoporosis drug aims to help increase bone mass to reduce the risks associated with weak bones and spinal fractures in women. The total size of the osteoporosis market is $18 billion in the United States. The stock of the company however closed marginally lower today.

Kansai Nerolac, one of India's largest paint companies also closed marginally lower today. This despite the positive development about its expansion plans. As per reports, the company is likely to invest Rs 3 bn this year for setting up a plant in the southern city of Bangalore. This will take the company's annual capacity to 260,000 tonnes from the existing 220,000 tonnes. The company also plans to expand its dealer network by 5% from the current 14,000 dealers. It will also add 5 new Nerolac Style Zone outlets in the current fiscal. It has 30 such stores presently.

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 "Markets down 1.8% for the week". 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.