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
Fri, 10 Jul 09:30 am

The major Asian stock markets have opened the session on a positive note with markets in China (up 5.5%) and Hong Kong (up 2.1%) leading the gains. US and European stock markets have also closed their session on a positive note. The rupee is trading at 63.37 per US dollar.

Indian markets today have started the day on a positive note. BSE-Sensex is trading up by 119 points (up 0.4%) and NSE-Nifty is trading up by 34 points (up 0.4%). S&P BSE Midcap and S&P BSE Smallcap index indices are also trading firm, up by 0.6% and 0.7% respectively. Most of the sectoral indices are witnessing buying interest with engineering and mining stocks leading the gains.

Stocks in the software space have opened the day on a mixed note. According to financial times, Tata Consultancy Services (TCS) has reported a better than estimated rise in net profit and margin for the quarter ended June. The revenues grew by 16% on a YoY (year-on-year) basis and 6% sequentially. In dollar terms, revenue growth stood at 3.5% on a quarter-on-quarter basis. While the growth was much better than in the past few quarters, it did not meet Street expectations of 4-4.2%. Stock of TCS has opened the day on a negative note.

Stocks in the cement sector are trading mixed. As per a leading financial daily, there has been reported a lack of concrete growth in cement sector. This is inspite of the core statistics for May showing a marginal growth in the cement sector. The sector being barometer of economic activity continues to be under pressure. As per the latest update from the government on growth of core sector for the month of May, the cement production witnessed growth of 2.6% against a contraction of 2.4% in the immediate previous month. While this is seemingly positive development; however it is too little to rejoice since in the growth in corresponding month last year, that is in May 2014, the growth was around 8.4%. While the sector is running at a capacity of 72% with more than a 100 million tonnes of capacity lying unutilized.

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.