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 close strong
Fri, 15 May Closing

Indian markets see-sawed between moderate and robust gains but managed to stay above the dotted line for most part of today's trading session. BSE-Sensex gained about 118 points while NSE-Nifty gained about 39 points. BSE Mid Cap and BSE Small Cap were in demand in the afternoon trade and finished the day higher by 0.3% and 0.6% respectively. Among sectoral indices, Consumer Durables gained the most followed by IT and Auto sector. On the other hand, Realty and Metal stocks were least favored today.

With regards to International markets, European bond yields were down across the board and majority of the indices were in positive territory. Asian markets finished mixed, Hang Seng gained 1.96% and the Nikkei 225 rose 0.83%. The Shanghai Composite lost 1.59%.

The Indian Rupee was trading strong at Rs 63.57 against the US dollar at the time of writing.

According to a leading economic daily, State owned NTPC Ltd will call for bids from solar project developers for buying 15,000 megawatts (MW) on behalf of the ministry of new and renewable energy (MNRE) as part of governments green energy push. This is in addition to NTPC's plans to set up 10,000 MW of solar power capacity on its own. NTPC will run a reverse bidding process for procuring solar-powered electricity in dollar-denominated tariff to reduce risk. Reportedly, it will provide a purchase guarantee, making such projects bankable and help solar power eventually cost the same as that purchased from the grid. The company also plans to raise US$ 500 m each from its first global rupee and green bonds sale that is expected shortly.

Profit booking was witnessed across the mining sector with Vedanta Limited and MOIL Ltd bearing most of the brunt. According to a leading financial daily, Coal India subsidiary Mahanadi Coalfields plans to boost production from its Basundhara reserves in Orissa to 85 million tonnes (mt) from 10 mt. However, the bulk of this output will be supplied to proposed 1,600 MW plant being set up near the mine in Sundergarh District. The company is reportedly planning to set up two 800-mw super critical units and a joint venture with a company specializing in power generation. It plans to offer majority stake in the power plant to the joint venture partner, which would preferably be an entity that would want to buy power from the plant. Of the power produced, Coal India will require 700-800 mw to run its mining equipment.

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 close strong". 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.