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?  

Sensex ends the week 2% lower
Fri, 17 Jun Closing

Indian stock markets started off today's session on a positive note. But soon things took a turn for the worse. The overhang, of RBI's policy hike yesterday could have also been a reason for the same. Profit booking in index heavyweights forced the indices deep into negative territory towards the close of the session. The BSE-Sensex closed lower by 0.6% (down 115 points), with the NSE-Nifty closed lower by 30 points. The BSE Midcap and BSE Small cap indices had a worse outing. They closed lower by 0.8% and 0.9% respectively.

Asian indices closed in the negative whereas Europe is currently trading mixed. The rupee was trading at near about Rs 44.88 per dollar at the time of writing.

Leading infrastructure financier, IDFC recently signed an agreement with Africa Finance Corp (AFC) in order to help Indian companies enter Africa. This will be in order to expand infrastructure, logistics, mining, power and telecom, in the country. AFC provides project structuring advice and risk capital to address the dark continent's infrastructure development needs in power, oil and gas, heavy industry, transport, etc.

Bharti Airtel recently jumped on the African bandwagon with its acquisition of the African assets of the telecom company Zain in a US$ 10.7 bn acquisition. India's state-run oil firms are also beginning to invest in Africa. Coal and diamond firms have invested across the continent. IDFC's management believes that in the coming decade Africa will attract a lot of attention from global investors, especially for its growth, natural resources and its untapped potential.

ONGC plans to spend around US$ 39 bn over the next 5 years (starting April 2012) in order to raise its output. This investment, when finalized will be a 40% increase from the company's spending programme in the previous 5 year period. ONGC holds the largest and most prospective acreage in India, including blocks in Krishna Godavari (KG) basin. The company accounted for 65% of India's crude oil and 44% of its natural gas output in the year ended March 31 2011. However, its output has been stagnant, as its oil fields are aging and it has not been able to bring any new fields into production. In order to fund its expansion, the company mainly plans to use internal accruals, as it is a debt free company.

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 "Sensex ends the week 2% lower". 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.