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?  

Equity markets in India fall further
Wed, 23 May 11:30 am

Indian equity markets have been trading in the red over last two hours of trade on the back of selling pressure witnessed in index heavyweights. All sectoral indices are trading weak led by consumer durables and realty stocks.

The Sensex today is trading lower by 94 points and NSE-Nifty is trading down by 28 points. BSE Mid cap and BSE Small cap indices are trading lower by 0.5% and 0.3% respectively. The rupee is trading at 55.76 to the US dollar.

Telecom stocks are trading weak led by Idea Cellular and Reliance Communications. As per a leading financial daily, Idea Cellular has slashed its 3G rates by 70%. This follows a similar move by the industry leader Bharti Airtel. Idea customers will now have to pay 3 paise per 10 KB of data as against 10 paise per 10 KB paid earlier. The new tariffs will be applicable to both prepaid and postpaid customers. This move by the telecom companies is expected to make internet accessible to rural and mid-town customers who will be using internet for the first time.

Auto stocks are trading in the red led by Hero MotoCorp and Maruti Suzuki. As per a leading daily, the Indian auto companies are looking at ways to deal with the problem of rupee's fall. Automakers are looking at ways of increasing their exports to compensate for the rising import bills. The rupee has declined by 11.5% since February till date. Toyoto Kirloskar Motor is 35-40% dependent on imports of inputs for its vehicles. To deal with rupee's diminishing value, the auto company has decided to export its Etios model to South Africa. Similarly, Honda Siel and Maruti are focusing on localisation strategy whereby the company has been working on its research and development. The management of Honda feels that these efforts are now yielding results in the form of increased local supply.

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 "Equity markets in India fall further". 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.