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?  

Markets in a buoyant mood today
Wed, 2 Jul 11:30 am

After opening in the green; the Indian Indices are trading at all time highs in the morning session. The buying interest is the highest in Banking and Engineering stocks.

The BSE Sensex is trading up 225 points and the NSE-Nifty is trading up 58 points. The BSE Mid Cap index is trading up 0.8%, while the BSE Small Cap index is trading up 0.9% today. The rupee is trading at 59.9 to the US dollar.

In a big boost for market sentiment, the international rating agency Fitch has upgraded its GDP growth estimates for the Indian economy. From its earlier estimate of 5% and 6% for FY15 and FY16, the agency now believes that GDP growth could be higher by 0.5%. Thus it has forecast growth of 5.5% and 6.5% for FY15 and FY16 respectively. The upgrade is largely due to the positive announcements made by the new government regarding reforms. However, Fitch has warned that a lot needs to be done for these estimates to be achieved. Also, the poor monsoon could derail the positive sentiment in the economy. It is interesting to note that the same agency had threatened to downgrade India's sovereign rating to junk status two years ago.

Auto stocks are trading firm today led by heavy buying interest in Force Motors and TVS Motors. As per a leading business daily, two & three wheelers major Bajaj Auto released its June sales volumes. The company's overall sales volumes declined by 13% to 305,000 units compared to that of previous month of May 2014. This was largely led by a 16.3% fall in motorcycles sales in June at 262,000 units. However, the three wheelers sales were up 13% month on month (MoM) to 43,263 units. The dismal performance was witnessed in exports sales as well, which were down by 13.5% MoM. In fact, the overall sales increased marginally by 3% on a YoY basis in the month of June 2014. The company is planning to launch an upgraded version of its popular Discover motorcycle in the next month. It aims to recoup its lost market share from the upgraded version of the bike. The stock is higher by 0.9% today.

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 "Markets in a buoyant mood today". 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.