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 Markets open in deep red
Mon, 27 Jul 09:30 am

The major Asian stock markets have opened the session on a negative note with markets in Hong Kong (down 2.41%) and China (down 2.44%). US and European stock markets closed their session on a negative note weighed down by weak earnings. The rupee is trading at 64.05 per US dollar.

Indian stock markets have also started the week on a pessimistic note owing to negative sentiments across global peers. BSE-Sensex is trading down by 223 points (down 0.79%) and NSE-Nifty is trading down by 71 points (down 0.83%). S&P BSE Midcap is trading down by 0.75% while S&P BSE Smallcap index is trading down by 0.32%. Major sectoral indices are trading on a negative with stocks in Banking sector witnessing maximum selling pressure.

Stocks in the pharmaceutical space are trading on a negative note. As per financial daily Sun Pharmaceutical may tap the global market to raise as much as $1 bn by selling off shore bonds. The company recently issued a profit warning owing to increasing cost related to Ranbaxy acquisition and resolving manufacturing problems at its plants. The proceeds are to be utilized for the purpose of capital expenditure and refinancing. The issue may be launched in some weeks and may extend to September because August is a vacation period for US investors. Stock of Sun Pharma is down by 0.09%.

Power stocks have also opened the day on a weak note. According to article in the economic times, the thermal power capacity utilization has reached a new low of 59% in June. The Plant Load Factor (PLF) in the year ago period stood at 66%. The experts have stated that it would make it difficult for commercial plants to service their debt at such low levels of PLF. The private sector companies who do not have any long term power purchase agreement will be the worst hit by such low PLF and would result in lower return on investment. A number of power plants have experienced cost overruns of 35-38% in the recent past.

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 Markets open in deep red". 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.