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 markets continue to disappoint
Thu, 7 May Closing

The Indian benchmark indices fell 0.4% to their lowest in four months. The Sensex witnessed a poor session to end the day at 26,599, down 119 points. The broader 50-share NSE-Nifty closed the session down 48 points. The broader markets remained under pressure with the BSE Mid Cap and BSE Small Cap indices falling on the back of weak overseas cues. Midcap was down by 2% and small-cap declined by 1.7%. Banks and Realty stocks witnessed maximum selling activity for a second day running. IT stocks managed to stay in the green (up by 1.63%).

With regards to global indices, Asian markets stumbled. Nikkei was down 0.93% while Hang-Seng and Shanghai Composite fell 0.57% and 1.41% respectively. European shares fell to their lowest level in more than two months, mirroring losses in Wall Street and Asia.

Continuing its weakness, the rupee rose above the 64-mark to trade at 64.25 against the American currency, lowest since September 2013 on sustained capital outflows by foreign funds.

According to a leading financial daily, Honda Motor is lining up Rs 17.7 bn to expand its production capacity by 40% over the next 2 years. The company posted a 20% increase in sales at 4.45 million units in FY15. The proposed investment will increase its India capacity to 6.4 million scooters and motorcycles a year by the end of 2016. Investment would largely flow into the Gujarat and Benagluru plants. Honda Motor along with its local subsidiary Honda Motorcycle wants to make India its largest two wheeler operations globally.

Barring GAIL, profit booking was witnessed across oil and gas sector. According to leading financial times, ONGC plans to invest about Rs 140 bn on exploration this fiscal and is seeking partnerships to develop its deepwater assets. The spending will go to exploration activities, including drilling of wells and facilitating the location of oil and gas deposits using a technique called 3D seismic. The scrip of ONGC ended the day down by 2.47% on the BSE

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 markets continue to disappoint". 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.