Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 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


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

Indian share markets open firm
Thu, 19 Jun 09:30 am

Asian stock markets have opened on a mixed note with China (down 0.5%), Indonesia (down 0.3%) and South Korea (down 0.1%) leading the losses, while markets in Japan (up 1.6%) and Hong Kong (up 0.3%) are trading in the green.

The Indian share markets have opened the day on a firm note. Barring oil and gas, all sectoral indices have opened in the green with consumer durables and IT stocks leading the gains.

The Sensex today is up by around 115 points (0.5%), while the NSE-Nifty is up by 36 points (0.5%). The midcap and smallcap stocks have also opened in the green with BSE Mid Cap and BSE Small Cap indices up by around 0.8% and 1% respectively. The rupee is currently trading at Rs 60.12 to the US dollar.

PSU bank stocks have opened the day on a firm note with Dena Bank and Vijaya Bank leading the gains. As per credit rating agency ICRA, the asset quality of India's public sector banks is expected to continue witnessing stress in the current fiscal. The gross non-performing assets (NPA) of public sector banks stood at 4.4% at the end of March 2014. By March 2015, gross NPA levels are expected to be in the range of 4.4-4.7%. As of year ended March 2014, the tier-I capital of public sector banks stood at 8.6% as against the required 6.5% level. For the entire banking system, gross NPA levels stood at 3.9% as of year ended March 2014.

Energy stocks have opened the day on a mixed note with Chennai Petroleum and Indraprastha Gas leading the gains. However, Oil and Natural Gas Corporation (ONGC) and Gujarat Gas have opened in the red. As per a leading financial daily, Mukesh Ambani controlled Reliance Industries is set to implement projects with an investment of Rs 1.8 trillion in the next three years. The results of these investments would be visible FY17 onwards. The company is aiming to be among the world's top 50 companies, emerging as a major player in telecom and retail in addition to its traditional business of oil exploration and refining & petrochemicals. The company's new initiatives include the launch of broadband services in a phased manner in 2015. The investment for this initiative is pegged at Rs 700 bn. The company is also planning to expand its retail business where it sees huge potential for growth. For these investments, the company plans to raise loans which would take its net debt level to Rs 600 bn over the next couple of years, a huge jump from a net debt level of Rs 17.8 bn as of March 2014. However, the company expects to be debt-free by the end of financial year 2017-18.

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 share markets open firm". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Feb 23, 2018 (Close)