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?  

Flat with positive bias
Tue, 6 Jul 11:30 am

After starting today's session on a positive note, Indian indices have managed to hold on to the gains during the last two hours of trade. Other key Asian markets are also marginally in the green. Stocks from IT and metal space are witnessing buying interest while stocks in the auto and consumer durables space are trading flat.

The BSE-Sensex is trading up by around 88 points, while the NSE-Nifty is up by about 30 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.5% and 0.6% respectively. The rupee is trading at 46.8 to the US dollar

Tech stocks are trading firm with TCS and Wipro leading the gains. Tech Mahindra and Infosys are trading flat. As per leading news daily, HCL Technologies (HCL Tech) is planning an acquisition in the European market. HCL Tech strategically plans to acquire companies that will expand its business with the European government. Thus, it is eyeing those companies which are existing vendors of the government. HCL Tech has an unconventional approach to acquisitions. Instead of integrating the acquired company with itself, it moves parts of the parent company into a new business unit. It should be noted that the Axon Group Plc's acquisition was structured in a similar way. New acquisitions are also likely to follow the same route. Apart from HCL Tech, other software service providers such as Wipro, TCS and Infosys are also targeting growth in developed markets including US and Europe.

NBFC stocks are currently trading positive with LIC Housing Finance, REC and IDFC seeing some buying interest. Most public sector banks have set their base rates at around 8%. This will impact NBFCs as their cost of borrowings from banks is likely to increase by around 1%. NBFCs also provide lending services and compete with banks for housing and vehicle loans. However, they depend on banks for a large portion of their financing needs. Currently, these NBFCs, including LIC Housing Finance are on term loans of 7%. This increase in bank rates will force them to look for alternate sources of funds, since term loans may become unviable. These include commercial papers and money market instruments. These companies are planning to first look at cheaper funding sources before they pass on the rate increases to customers

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 "Flat with positive bias". 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 22, 2018 (Close)