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Indian share markets open weak
Wed, 25 Jul 09:30 am

Barring China (up 0.1%) and Taiwan (up 0.2%), the key Asian stock markets have opened the day on a negative note. Weak US data has prompted Asian markets to sink into the red with stock markets in Japan (down 1.0%), South Korea (down 0.7%) and Hong Kong (down 0.2%) leading the losses in the region. The Indian share market indices have also opened the day on a weak note. Barring software and Pharma, all sectoral indices are trading in the red led by metal and realty sectors.

The Sensex today is down by around 61 points (0.4%), while the NSE-Nifty is down by around 16 points (0.3%). Mid and small cap stocks are also trading in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.3% and 2.6% respectively. The rupee is trading at Rs 56.01 to the US dollar.

Banking stocks have opened mainly in the red led by Bank of Baroda and Indian Bank. ING Vysya Bank Ltd. has announced its results for the first quarter of financial year 2012-13 (1QFY13). The bank has reported a 27.8% year on year (YoY) increase in the total income. The operating profits also registered an impressive growth of 48.1% YoY. The bank's gross non-performing asset (NPA) ratio and net NPA ratio stood at 1.97 % and 0.19 % as on June 30, 2012 as compared to 2.15% and 0.35%, respectively on June 30, 2011. There were no additions to restructured assets during the quarter. The capital adequacy ratio as on June 30, 2012 stood at 13.35%. The bottomline was up 38.4% YoY, boosted by a 31% YoY increase in the net interest income. The net interest margins (NIM) of the bank stood at 3.29%, as compared to 3.02% in 1QFY12.The stock was trading in the green.

Auto stocks have opened in the negative as well led by TVS Motors and Maruti Suzuki Ltd. Ashok Leyland Ltd has announced its results for the first quarter of financial year 2012-13 (1QFY13).The company has reported a 19.7% year on year (YoY) increase in the revenues. The total vehicle sales during the quarter were up 42.6% YoY, with sales volumes in the domestic market and exports registering a growth of 3.6% YoY and 14.4% YoY respectively. As per the management, the company increased its market share by 3.8% during the quarter versus a total industry volume decline of 12% YoY. However, the net profits for the quarter were down by 22.4% YoY on account of an increase in power costs and advertising costs. As per the management, the company will raise around Rs 16.5 bn as part of its capex plans. The stock was trading in the red.

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Feb 19, 2018 (Close)