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?  

Markets close at record high
Thu, 24 Jul Closing

After trading below the dotted line during post noon trading session, the Indian equity markets gathered steam in late hours and ended the day in the green. While the BSE-Sensex today closed higher by 125 points, the NSE-Nifty closed higher by 35 points. However, Midcaps and Smallcaps bucked broader market trend and closed flat. While the BSE Mid Cap index decreased by 0.2%, the BSE Small Cap index recorded gains of 0.3%. IT and metals stocks were the biggest gainers today.

As regards global markets, Asian indices closed on a strong note today. Only Japanese and Korean markets closed in the red. The rupee was trading at Rs 60.09 to the dollar at the time of writing.

In a step that would open doors for further foreign investment, the cabinet approved 49% investment in insurance companies. With Cabinet giving a nod to increase FDI the matter will now be taken up in the parliament. It may be noted that the FM had stated in his budget speech the need to increase foreign investment limit in this cash starved sector. A hike in limit would enable domestic companies to get the much needed capital from abroad. The move gives a much needed relief to the insurance sector which had proposed to raise the limit since 2008. It would be interesting to see how things pan out with increased availability of funds in the sector.

Mining stocks have closed the day on a mixed note, with Ashapura Minechem on top of the gainers list and MOIL on the losing side. As per a leading business daily, Coal India may face a production loss of 10 m tonnes in financial year 2015. This is because about 122 of its employees which were sacked for indiscipline have extended their agitation. This will lead to interim closure of a few crucial mines, leading to a fall in the company's output during the year. With indications that these employees are backed by local politicians, it may take a while for the agitation to reach resolution. Such a fall in production will be a negative not just for the company but also the power sector which is already reeling under a multitude of problems related to coal availability.

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 "Markets close at record high". 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.