X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian markets widen losses 
(Tue, 27 May 01:30 pm) 
 
Across the board profit-booking saw Indian share markets slipping deeper in the red in the post-noon trading session. Barring IT and pharma, all the sectoral indices are trading in the red with realty and power stocks being the biggest losers.

BSE-Sensex is down 236 points and NSE-Nifty is trading 63 points down. BSE Mid Cap is trading 1.2% down and BSE Small Cap index is trading down by 1.3%. The rupee is trading at 58.87 to the US dollar.

All the mining stocks are trading in the red with Gujarat NRE Coke and MMTC Ltd being the biggest losers. As per a leading financial daily, Coal India's Ltd (CIL's) worker unions are against divestment of additional stake in the company or any of its subsidiaries as part of its restructuring to improve efficiency. However the unions have given indication that they are unlikely to oppose splitting of CIL's subsidiaries into independent companies. The previous Manmohan Singh government was compelled to halve its divestment target in the company to 10% following sharp protests from the unions. The divestment plan was finally abandoned. Nearly 90% stake in CIL is held by the government. The company's unions are awaiting the Centre's announcements on the sector before they formulate their future course of action. CIL stock is currently trading down by 0.8%.

As per a leading financial daily, India's current account deficit (CAD) fell steeply to 0.2% of the Gross Domestic product (GDP) for the March 2014 quarter. The fall has come on account of sharp restrictions imposed on gold imports. As per data from Reserve bank of India (RBI), gold imports plunged to one-third at $5.3 bn in March 2014 quarter from $15.8 bn in March 2013 quarter. The CAD fell to 1.7% of the GDP ($324 bn) in FY14 from 4.7% of the GDP ($87.8 bn), in the previous year. Although the CAD has reduced, the net outflow due to payment of dividend, interest and profit repatriation grew to $6.4 bn in FY14 from $5.2 bn, a year ago. This signals that the RBI will have to accumulate foreign exchange reserves in future to take care of the US dollar demand that is set to rise in future.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian markets widen losses". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS