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 Markets open firm
Wed, 1 Jul 09:30 am

Asian stock markets have opened the day in the green with markets in Hong Kong (up 1.9%) and Taiwan (up 0.8%) leading the gainers. Stock markets in US ended their session on a positive note while markets in Europe closed their session in the red yesterday. Crude oil prices rose nearly 1.3%, at Rs 3,785 per barrel. Precious metal gold and silver are trading down by 0.8% and 0.7% respectively.

Indian stock markets have opened their day on an encouraging note. BSE-Sensex is trading up by 83 points (up 0.3%) and NSE-Nifty is trading up by 18 points (up 0.2%). S&P BSE Midcap and S&P BSE Smallcap index indices are also trading in the green, up by 0.6% and 0.8% respectively. Sectoral indices are trading mixed with stocks in aluminum and pharma witnessing buying interest. Rupee gained around 0.12% and is trading at 63.68 per US dollar.

As per a leading financial daily, fiscal deficit for April-May of current fiscal stands at Rs 2.08 lakh crore or 37.5% of the budget estimates for 2015-16. Fiscal situation during April-May, 2015-16 has showed some improvement over the corresponding period of last year as the deficit then was 45.3% of the budget estimates. On a YoY (year-on –year) basis, the deficit was narrower due to higher non-tax revenue and lower non-plan expenditure. Net tax revenue for the first two months of 2015-16 stood at Rs 198.9 bn or 2.2% of the full year budget estimate. The same stood at 2.9% in the year-ago period. Total receipts stood at Rs 523.6 bn or 4.6% of the 2015-16 budget estimate, compared with 3.2% for April-May 2014.

Most of the stocks in automobile sector are trading in green. As per financial times, exports of automobile components grew 10% to an all-time high of $11.2 bn in 2014-15. This growth was helped by demand from the US, Turkey and Italy. As per data released on Tuesday by the Automotive Component Manufacturers’ Association (ACMA), it grew 11% to Rs 685 bn. Turnover for the industry grew 11% to Rs 2348 bn in 2014-15 as against a decline of 2% in 2013-14. However, India has remained a net importer of automobile components in 2014-15 with its imports growing by 6% to $13.5 bn as against a decline of 6.3% in 2013-14.

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 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.