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 stock markets open on a weak note
Tue, 8 May 09:30 am

Barring China (down 0.6%) and Hong Kong (down 0.1%), Asian stock markets have opened the day on a positive note. Markets in Japan (up 0.6%) and South Korea(up 0.5%) are leading the gainers in the region. The Indian stock markets have opened on a weak note. Stocks in the consumer durables and realty sectors are witnessing maximum gains while capital goods and software stocks are leading the losses.

The BSE-Sensex is down by around 81 points (0.48%), while the NSE-Nifty is down by around 11 points (0.1%). BSE Mid cap and BSE Small cap stocks are trading in the green with the BSE Mid cap and BSE Small cap indices up by around 0.6% each. The rupee is trading at Rs 52.73 to the US dollar.

Banking stocks have opened the day on a mixed note with Development Credit Bank and Yes Bank leading the gainers and Karur Vysya Bank and J&K Bank trading the weakest. HDFC has reported results for fourth quarter ended March 31, 2012 (4QFY12) and fiscal year 2012 (FY12). The company has registered a growth of 17% on a year on year (YoY) basis in the net interest income for FY12. The net profits for the fiscal are also up 32% YoY. The overall loan and deposit growth for the year were 22% YoY and 18% YoY respectively. During the quarter, the net interest income was up 19% YoY backed by the growth in advances. The net interest margins at the end of the year were marginally higher at 4.2%.The other income during the quarter was up 19% YoY. The board of directors of the company has recommended a dividend of Rs 4.3 per share. The stock was trading in the red.

Telecom stocks have opened the day on a mixed note with Idea Cellular and Mahanagar Telephone Nigam Ltd leading the gainers and AGC network and ADC India Communications Ltd. trading the weakest. The country's largest telecom service provider, Bharti Airtel, continues to expand its 4G footprint. The company launched its 4G services in Bangalore yesterday. Bangalore is the second city in which Airtel has launched its 4G services with Kolkata being the first city. The company has decided to come up with attractive offers to attract customers. Offers include cash back on equipment provided to customers to access 4G services. In 2010, the company had received 4G license and spectrum for four circles of Maharashtra, Punjab, Karnataka and Kolkata. It plans to launch services in the rest of the circles soon. The stock was trading in the green.

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 stock markets open on a weak note". 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.