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 stock market opens flat
Wed, 27 Jul 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in Hong Kong (down 0.1%), South Korea (down 0.2%) and Japan (down 0.6%) are trading in the red while Indonesia (up 0.7%) and China (up 0.1%) are trading in the green. The Indian stock markets have opened flat. Stocks in the IT and Consumer durables are leading the gains while Power and Banks stocks are trading in the red.

The BSE-Sensex is trading up by 5 points (0.1%) and the NSE-Nifty is up by around 5 points (0.1%) as well. Midcap and small cap stocks are trading in the green, with the BSE Midcap and BSE Small cap indices up by 0.3% and 0.4% respectively. The rupee is trading at 44.08 to the US dollar.

Pharma stocks have opened the day in the green with Sun Pharma and Glenmark Pharma in the green while Dr Reddy's in the red. Glenmark announced its first quarter results for financial year 2012 (1QFY2012). For the quarter, Glenmark's consolidated sales and profit after tax (PAT) grew by 27% YoY and 23% YoY respectively. Sales from the generics business stood at Rs. 3,361 m which translates into a growth of 28% YoY. The Specialty formulation business clocked revenues of Rs. 5,219 m. The US Generics business also grew by 37 % YoY primarily fueled by the existing products. The company has been reporting excellent number in domestic as well as international sales from the US and Europe. To further propel growth, the company has entered into newer markets like Venezeula, Peru and Eucador.

Banking stocks have opened the day on a weak note with Axis Bank and HDFC Bank in the red while ICICI Bank in the green. Following the hike of the policy rates by the Reserve Bank of India, Yes Bank became one of the first banks to raise its base rates. Yes Bank has announced an increase of 0.5% in its base rates to 10.25%. The bank has also increased the interest rates on its old loans that were taken under the Benchmark Prime Lending Rate (BPLR) system. As per the bank, the lending rate has been increased to help the bank absorb the increase in costs on account of the interest rate hikes by Reserve Bank of India. The country's largest lender, State Bank of India, has also stated that it would be increasing its short term interest rates. However, it has not yet disclosed the exact quantum of increase. Other banks are also expected to follow suit and increase their rates.

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 stock market opens flat". 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.