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 green
Fri, 2 Aug 09:30 am

All major Asian stock markets have opened the day on a firm note with Japan (up 1.4%), Hong Kong (up 0.6%) and China (up 0.6%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the consumer durables and information technology space are leading the gains. However, power and realty stocks are trading weak.

The Sensex today is up by around 28 points (0.1%), while the NSE-Nifty is trading flat. However, mid and small cap stocks are trading in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.5% and 02% respectively. The rupee is trading at Rs 60.65 to the US dollar.

Auto stocks have opened the day on a firm note with Ashok Leyland, Maruti Suzuki and TVS Motor Company leading the gains. As per a leading financial daily, India's leading passenger vehicle maker Maruti Suzuki has reported sales of 75,145 units during the month of July 2013, a growth of about 6% year-on-year (YoY). The growth in sales by the automaker comes against the backdrop of a prolonged slowdown in the auto industry and declining sales. Car sales in India had declined for a record 8 consecutive months until June 2013. However, it must be noted that Maruti's growth in sales is largely due to the lower base last year. Last year, the company's sales had been impacted due to the closure of the Manesar plant following labour unrest.

Oil & gas stocks have opened the day on a mixed note with Mangalore Refinery and Petrochemicals Ltd (MRPL) and Essar Oil trading firm. However, Indian Oil Corporation (IOC) and Hindustan Petroleum Corporation Ltd (HPCL) are trading weak. As per a leading daily, the proposal to allow the government to divest a 10% stake in state-run oil firm IOC has been approved by the Union Cabinet. Currently, the government holds 78.92% stake in IOC. At the current market price, the stock is likely to fetch the government Rs 38.4 bn. The five merchant bankers that have been selected by the disinvestment department to manage the stake sale include Citibank, HSBC, UBS Securities, SBI Capital and JM Financial. It is worth noting that the divestment is part of the government's plan to raise Rs 400 bn through stake sales in the current fiscal year 2013-14. So far, the government has raised about Rs 8.3 bn through sales in MMTC Ltd and Hindustan Copper.

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 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.