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?  

IT and Oil & gas drag indices
Tue, 29 Jun 11:30 am

After starting today's session on a negative note in the morning Indian indices are still lingering in the red and have not managed to cut their losses. Other key Asian markets are also in the negative territory. Stocks from IT and Oil & Gas space are trading in the red while stocks from the Realty and Consumer durables space are witnessing buying interest.

The BSE-Sensex is trading down by around 77 points, while the NSE-Nifty is down by about 30 points. However, mid and small cap stocks are trading flat as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.36% and 0.37% respectively. The rupee is trading at 46.42 to the US dollar.

Realty stocks are trading in the green. Major gainers here include Sobha developers and Parsvnath developers. As per a leading business daily, DLF has signed deals to lease out 10 m sq ft of it's commercial space. At present DLF, along with DLF Assets Ltd (DAL), a subsidiary of DLF, has 19 m sq ft of assets available for lease. Out of this DAL has a portfolio of 13 m sq ft. DAL has managed to lease out 6.5 m sq ft till date and has plans to lease 1 m sq ft each quarter.

The average leasing rate for DLF's commercial portfolio is about Rs 41 per sq ft. Management has given guidance to have rental income stream of Rs 16 bn by the end of FY11. This is pretty much on the cards as DLF has witnessed increased traction in the pre-leasing activity in the recent past. And some of it's markets like Gurgaon and Noida have witnessed increase in rentals.

Power stocks are trading mixed with CESC, and GMR Infra leading the gains.Reliance Infrastructure and NTPC were among the major losers. Power Grid Corp plans to invest Rs 580 bn to set up a network which will facilitate the evacuation of electricity from power surplus states to others. The company plans to execute nine high-capacity transmission corridors within five years. These will help transfer power from hydro power projects in the North-East and thermal power projects in the Northern region to power deficient states. The transfer of electricity will take place between Jharkhand, Chhattisgarh, Sikkim, Andhra Pradesh and Tamil Nadu. This major expansion will be funded through internal accruals, World Bank and Asian Development Bank loans and partly from the proceeds of its follow-on public offer (FPO). This FPO is expected to hit markets in September 2010. The government plans to divest 10% in this PSU through the offer.

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 "IT and Oil & gas drag indices". 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 19, 2018 (Close)