Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Realty Stocks Out of Favour
Wed, 13 Jul 01:30 pm

After opening the day flat, Indian Indices slipped into the negative territory during the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the metal and IT witnessing buying interest while realty and consumer durables bearing the maximum brunt.

The BSE Sensex is trading lower by 24 points (down 0.1%) and the NSE Nifty is trading lower by 17 points (down 0.2%). The BSE Mid Cap index is trading lower by 0.6% while the BSE Small Cap index is trading lower by 0.7%. Gold prices, per 10 grams, are trading at Rs 31,293 levels. Silver price, per kilogram, is trading at Rs 48,019 levels. Crude oil is trading at Rs 3,109 per barrel. The rupee is trading at 67.17 to the US$.

As per an article in The Economic Times, government is likely to issue a nod to hike kerosene prices by Rs 0.25 a litre per month till April 2017.

Reportedly, if the move sees the light of the day, the upstream oil companies such as ONGC may get benefited immensely, the report stated. The government last hiked prices on July 1 for the first time in five years.

The under-recovery on kerosene stands at about Rs 13.1 per litre, of which the government subsidises Rs 12.

Consequently, inclusive of July increase of Rs 0.25, a monthly increase of similar amount would result in a saving of Rs 2.25 a litre for the current financial year alone. Moreover, the increase will benefit three government-controlled oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation.

The decision comes since the government is still not able to introduce direct benefit transfer in kerosene, the reports stated.

Moving on to the news from banking sector. According to a leading financial daily, IDFC Bank Ltd has signed a pact to acquire Grama Vidiyal Micro Finance Ltd to expand its services. The acquisition offers the bank access to Grama's 1.2 million households apart from adding its 319 points of presence in seven states.

This is for the first time a bank has acquired a microfinance company in India. Grama Vidiyal is headquartered in Tamil Nadu and has assets under management (AUM) of Rs 15 billion as of March 2016.

The bank said the Grama Vidiyal will be its wholly-owned subsidiary and will act as a dedicated business correspondent of IDFC Bank.

IDFC Bank plans to grow its rural and consumer banking loan book to 25% by March 2017. Whether IDFC Bank realizes its dream will be a key thing to watch out for going forward. Speaking about IDFC Bank's journey ahead, Madhu Gupta, Managing Editor of ResearchPro has written an interesting piece on this matter in one of the editions of ValuePro recently.

Subscribers can access IDFC Bank's latest result analysis (subscription required) on our website.

IDFC Bank Ltd was trading down by 2% while writing.

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


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Realty Stocks Out of Favour". Click here!

  

Views on News

BSE Sensex Surges 1,060 Points; TATA STEEL Among Top Gainers (Market Updates)

Mar 3, 2021 | Updated on Mar 3, 2021

The BSE Sensex Surged 1,060 Points; TATA STEEL Among Top Gainers. Find the latest update, special reports and news on all time high gainers of BSE Sensex at equitymaster.com.

Dollar at 80? (Fast Profits Daily)

Mar 3, 2021

Can the rupee depreciate to 80 against the US dollar? In this video, I'll show you what the charts say.

Motilal Oswal Asset Allocation Passive Fund of Fund: Aims to Benefit from Investing in Multi-Asset Passive Funds (Outside View)

Mar 3, 2021

PersonalFN analyses the features of Motilal Oswal Asset Allocation Passive Fund of Fund and explains the potential this fund has to offer to its investors.

Smallcap Investing in the New Normal World (Profit Hunter)

Mar 3, 2021

Here's why I think there is more steam left in smallcaps.

Why Rising Bond Yields Spooked the Market (Fast Profits Daily)

Mar 2, 2021

The stock market has been worried about rising bond yields recently and for good reason. In this video, I'll tell you why.

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Make Rs 5,000 Per Day Trading the Market (Fast Profits Daily)

Feb 25, 2021

In this video, I'll show you how to get started on the path to daily trading profits.

I Believe the Investment of the Year Will Be...

Feb 19, 2021

In this episode, ace trader Brijesh Bhatia talks to us about the best investments of 2021, his profitable trading system, and much more.

The Hidden Tesla in My Great Indian Wealth Project (Profit Hunter)

Feb 23, 2021

An Indian company founded three decades ago in a garage caught my attention...

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Mar 3, 2021 (Close)

MARKET STATS