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
  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on 26th June, 2017 on account of Ramzan EID.

Indian Indices Open Firm
Mon, 30 May 09:30 am

Major Asian stock markets have opened the day on a positive note. Stock markets in Japan and Hong kong are trading higher by 1% and 0.7% respectively. Benchmark indices in the Europe and the US ended their previous session in green. The rupee is trading at 67.06 per US$.

Indian stock markets have opened the day on a strong note. The BSE Sensex is trading higher by 100 points (up 0.4%) and the NSE Nifty is trading higher by 30 points (up 0.4%). Both, BSE Mid Cap and BSE Small Cap are trading higher by 0.5% and 0.6% respectively.

Major sectoral indices have opened the day in green with stocks from metal and banking sector witnessing buying interest.

As per an article in Business Standard, the government is planning an initial public offer (IPO) in four state owned companies in the fiscal year 2017. The government is eyeing to garner around Rs 80 billion from these IPOs.

Reportedly, the department of investment and public asset management (DIPAM) has identified Housing and Urban Development Corporation (Hudco), Hindustan Aeronautics (HAL), and Rashtriya Ispat Nigam (RINL) as the companies it wants to take public after the IPO of Cochin Shipyard, preparation for which is well under way.

The Centre has planned to sell a 10% stake in Cochin Shipyard. The government has set an ambitious target to divestment around Rs 565 billion in the current fiscal. The government had missed its target by a huge sum in the fiscal year 2016.

While there have been cases of divestment, the sole purpose of this exercise has been to bail Government out of some fiscal crisis rather than improving management, performance or accountability of PSUs. As the Government gets ambitious with its disinvestment target of Rs 565 billion for 2016-2017, we hope the divestment will serve more than a tool to cover fiscal deficit.

In another news update, sales of compact sports utility vehicle is gaining traction in the utility vehicle space. Compact SUV sales at 30,000 units in April 2016 were nearly half of the 62,000 UVs sold in the same month.

Reportedly, the rising popularity of this segment is evident in the numbers. Four compact SUVs- Hyundai Creta, M&M's KUV100 and TUV100 and Maruti Suzukis Brezza - launched in FY16 clocked sales of 108,000 units. Of these, KUV100 and Brezza were launched in the last quarter of the year and the full-year impact will be seen in FY17.

Bigger SUVs have come under pressure post the ban on sales of 2,000cc diesel vehicles in the national capital region and will be further impacted due to a similar ban by the National Green Tribunal in Kerala.

The demand for the compact SUVs needs to be closely tracked to assess its impact on the other segments i.e sedan and hatchback going forward.

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

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Indian Indices Open Firm". Click here!

  

S&P BSE SENSEX


Jun 23, 2017 (Close)

MARKET STATS