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?  

Indian share markets open firm
Tue, 25 Jun 09:30 am

All the major Asian stock markets have opened the day in the red with Hong Kong (down 1.2 %) and China (down 3.8%) leading the pack of losers. However, the Indian share market indices have opened the day on a positive note. The sectoral indices have opened on a mixed note with stocks in the oil and gas and realty sector leading the gains. However, the stocks in the FMCG and consumer durables were witnessing selling pressure.

The Sensex today is up by around 50 points (0.3%), while the NSE-Nifty is up by around 14 points (0.3%). However, mid cap stocks have opened in the red with BSE Mid Cap index down by around 0.2%. The small cap stocks have opened in the green with BSE Small Cap up by around 0.2%. The rupee is trading at Rs 59.70 to the US dollar.

Mining stocks have opened the day on a mixed note with Sesa Goa Ltd and Coal India Ltd leading the gains. However, Metals and Minerals Trading Corporation of India Ltd. (MMTC) and National Mineral Development Corporation (NMDC) were witnessing selling pressure. As per a leading financial daily, five national unions representing the interests of about 3.5 lakh workers of Coal India Ltd (CIL) have postponed their proposed strike. The unions have decided to approach the coal ministry with their concerns about the proposed 10% stake sale and restructuring in the PSU. Earlier, a three day strike was proposed in the month of September. However, now the unions will approach the Government first for negotiation. In case the Government does not take into consideration their views against the divestment, they are planning to go ahead with the strike.

Steel stocks have opened on a mixed note with Steel Authority of India Ltd and Adhunik Metaliks leading the losses. However, Tayo Rolls and Jindal SAW Ltd are leading the losses. As per a leading financial daily, Tata Steel is considering selling its stake in various group companies including Tata Motors. It is to be noted here that the company is facing tough times due to a high debt load and declining steel prices. As such, it is hoping to raise Rs 72 bn through the stake sale. Tata Steel owns 5.6 % in Tata Motors, worth Rs 50 bn at on Monday's closing price, apart from stake in other Tata Group companies. Tata Steel might sell these stakes to its parent company, Tata Sons. With the help of funds so raised, it intends to expand in Orissa and repay high cost loans.

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 "Indian share markets open firm". 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.