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 in the green
Wed, 16 Jul 09:30 am

The major Asian stock markets have opened on a mixed note with stock markets in Indonesia (up 0.9%) and Singapore (up 0.3%) leading the gains. However, the stock markets in Taiwan (down 0.6%) and South Korea (down 0.1%) were facing selling pressure.

The Indian share markets have opened the day in the green. Barring consumer durables, all sectoral indices have opened firm with stocks in the banking and realty sector leading the gains.

The Sensex today is up by around 90 points (0.4%), while the NSE-Nifty is up by around 27 points (0.4%). The midcap and smallcap stocks have also opened in the green with BSE Mid Cap and BSE Small Cap indices up by around 0.6% and 0.9% respectively. The rupee is currently trading at Rs 60.20 to the US dollar.

Energy stocks have opened the day mainly in the green with Indian Oil Corporation Ltd (IOCL) and Bharat Petroleum Corporation Ltd (BPCL) leading the gains. However, GAIL (India) Ltd and Indraprastha Gas Ltd were facing selling pressure. The state run oil marketing companies have cut the price of bulk diesel which is sold to industrial consumers such as state transport companies and railways by Re 1 per litre. In Delhi, the revised price for bulk diesel would be Rs 59.32 a litre. In Chennai, the price has been cut by Rs 1.18 a litre to Rs 63.53. In Mumbai, price would go down by Rs 1.20 a litre to Rs 67.90 and Kolkata would see a cut of Rs 1.14 a litre to Rs 64.39. The move follows a moderation in diesel's price at regional trading hubs such as Singapore and the strengthening rupee. It is likely to bring down railway fares that are linked to fuel prices. It would also help bring down fuel bills for state transport utilities.

Telecom stocks have opened the day in on a mixed note with Tata Communications Ltd and AGC Networks Ltd leading the gains. However, ITI Ltd and ADC India Communications Ltd were facing selling pressure. The Telecom Regulatory Authority of India (TRAI) has reduced ceiling tariffs of dedicated broadband lines, (called as domestic leased circuits or DLC, mainly used by business houses and telecom operators) by up to 60 %. The revised tariffs for DLCs will come into effect from August 1, 2014. DLCs are dedicated connections between service providers facility to customers premise and are separate from general public networks. They form building block for services like e-commerce, e-governance, internet access for the masses and knowledge based industries like BPO, IT and ITes. DLCs are also leased out to telecom service providers who do not have sufficient transmission infrastructure in any area.

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 in the green". 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.