X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 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
Investing in India? Get Equitymaster Research  
Indian markets open deep in the red 
(Wed, 8 Jul 09:30 am) 
 
The major Asian stock markets have opened the day on a negative note with markets in Hong Kong (down 4.2%) and Japan (down 2.3%) bearing the maximum burnt. US stock markets closed their trading session on a positive note while European stock markets closed their session in the negative zone.

Indian markets have opened the trading session on a discouraging note today. BSE-Sensex is trading lower by 252 points (down 0.9%) and NSE-Nifty is trading lower by 85 points (down 1%). S&P BSE Midcap and S&P BSE Smallcap index indices are also trading in the red, down by 0.6% and 0.5% respectively. Most of the sectoral indices are also trading in the red with mining and auto stocks leading the losers. The rupee is trading at 63.53 per US dollar.

Most of the stocks in the automobile space have opened the day on a negative note. As per financial times, the country's largest passenger vehicle company Maruti Suzuki has recorded a growth in its pre-owned car business at 3,58,000 units in 2014-15. This sheer volume of units sold, makes True Value (Maruti's pre-owned car business) the third largest domestic passenger vehicle seller. The number of cars sold by True Value was up by 26% in FY15. In the first quarter ended June this year, a total of 87,800 cars were sold at True Value, up by 12% from the last fiscal in the same period. Also for the same quarter, Maruti sold 3,05,694 new vehicles. The stock of Maruti Suzuki has opened the day marginally down.

Food and Tobacco stocks have opened the day on a mixed note. As per a leading financial daily, Nestle India has paid Rs 200 m to cement producing major Ambuja Cement for destroying Maggi instant noodles which were found to be harmful for consumption by the food regulators. As Nestle stated that In addition to the value of stocks being destroyed there will be additional costs to take into account, which will include bringing back stock from the market, transporting the stock to the destruction points and destruction cost etc. As stated, the company is in the process of destroying Maggi instant noodles worth Rs 3200 m. The stock of Nestle has opened the day in the red.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian markets open deep in the red". Click here!

  
 

Become A Smarter Investor In
Just 5 Minutes

Multibagger Stocks Guide 2017
Get our special report, Multibagger Stocks Guide (2017 Edition) Now!
We will never sell or rent your email id.
Please read our Terms

MARKET STATS