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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian Markets open deep in red 
(Fri, 26 Jun 09:30 am) 
 
The major Asian stock markets have opened the day on a negative note with markets in Hong Kong (down 1.5%) and China (down 4%) leading the losses. The US and European stock markets have also closed their session on a negative note.

Indian markets have opened the trading session on a negative note today. BSE Sensex is trading lower by 132 points (down 0.5%) and NSE-Nifty is trading lower by 38 points (down 0.5%). BSE Mid Cap and BSE Small Cap indices are trading down by 0.5% and 0.3% respectively. Among the sectoral indices, energy and mining are the leading losers while software stocks are leading the gains. The rupee is trading at 63.63 per US dollar.

As per a leading financial daily, Reserve Bank of India (RBI) has reported concerns for Indian Banks in its Financial Stability Report. RBI stated that a whopping 530 bn exposure of Indian Banks to seven state electricity boards (SEBs) has a very high probability of turning into non-performing assets (NPAs) in the quarter ending September. These loans were restructured in 2012, with a three year moratorium for the principal amount of Rs 430 bn. If the distribution companies fail to pay Interest and/or principal by June 30, these will turn into NPAs. On a separate note, RBI also reported that gross NPAs for steel and iron sector have grown from 4.8% in March 2013 to 7.1% in March 2015.

Stocks in the automobile sector have opened the day on a mixed note. As per financial times, Bajaj Auto is ramping up monthly production of the new sports bike Pulsar RS200 by over two-fold. This will be at 4,000 units in the next two months. The bike, priced at Rs 1.18 lakh was launched in March and is averaging monthly sales of 1,700 units. The company stated that Pulsar RS200 along with bikes from sister concern KTM will help the company enhance its position in the 'super sports' segment. The company as of May, 2015 has a market share of 56% compared with just 13% in FY13. Stock of Bajaj Auto has opened the day on a negative note.

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May 26, 2017 09:05 AM

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