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 share markets open weak
Mon, 15 Jul 09:30 am

The major Asian stock markets have opened the day on a mixed note with China (up 1.5%) and Hong Kong (up 0.4%) leading the gains. However, markets in Indonesia (down 0.7%) and Malaysia (down 0.2%) are trading weak. The Indian share market indices have opened the day on a weak note with stocks in the consumer durables and metal space leading the losses. However, stocks in the capital goods and healthcare sector were trading firm.

The Sensex today is down by around 11 points (0.1%), while the NSE-Nifty is down by around 8 points (0.1%). Mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.1% and 0.2% respectively. The rupee is trading at Rs 59.92 to the US dollar.

Telecom stocks have opened the day on a mixed note with AGC Networks and Reliance Communications leading the gains. However, Tata Teleservices and ADC India Communications Ltd are leading the losses. As per a leading financial daily, the telecom department (DoT) may not allow spectrum sharing and trading among operators for the time being .As per a senior DoT official, there is a fear that spectrum sharing at this stage could encourage cartelisation among operators during the upcoming auctions. This would prevent the government from realising the true value of this resource. DoT has set up an internal committee under the wireless advisor to study the issue and assess the need of sharing of spectrum at this juncture. The mobile operators are likely to be disappointed by the move since they were looking forward to sharing airwaves as a cost-efficient way of managing the shortage of spectrum.

Steel stocks have opened the day mainly in the red with Tata Steel Ltd and Tayo Rolls leading the losses. As per a leading financial daily, Tata Steel Ltd's European arm has reported a record loss of 1.2 bn pounds for the year. This is higher as compared to a loss of 846 m pounds in the previous year. As per the company's filing, the revenues for the year witnessed a decline of 14% YoY. This was mainly due to deterioration in the market conditions in the second half. The European arm was called Corus before being bought over by the Indian conglomerate back in 2007. However, it has been facing a tough time due to falling steel prices, a slowdown in demand and competition from cheap imports.

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 share markets open weak". 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.