Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian stock markets trade flat
Thu, 4 Aug 11:30 am

Indian stock market indices have lost ground after a firm opening. PSU stocks and IT stocks are among the gainers while stocks from the auto and FMCG space are trading weak.

The BSE-Sensex and NSE-Nifty are trading flat at the moment. BSE Midcap and BSE Small cap indices are up by 0.7% and 0.9% respectively. The rupee is trading at 44.44 to the US dollar.

Power stocks are trading in the green led by GVK Power and Reliance Infra. Power Grid Corporation is expected to raise Rs 25 bn via issuing of corporate bonds by end of this month. The bonds would be for 4-15 years with a coupon rate of 9.5%. RBI (Reserve Bank of India) had last week raised the repo rate by 50 basis points (bps). Post this, the yields on the 10-year benchmark government security rose by around 15 bps. Yields on 10-year "AAA" rated corporate bonds issued by public sector units currently stands at around 9.45%. As a result of the series of rate hikes by the RBI, funding has become costlier.

Pharma stocks are trading in the green led by Zandu Realty and Dishman Pharma. Wockhardt has approached the Bombay High Court for legal clearance of its recently announced deal with Danone. It may be recollected that yesterday, Wockhardt announced its decision to sell its nutrition business to French food company, Danone. The company is trying to settle differences with its lenders regarding the same. Earlier, such a deal with US pharma company Abbott had faced resistance from some of the lenders of Wockhardt. The Indian pharma company's problems with lenders began after it failed to redeem its FCCBs (Foreign Currency Convertible Bonds) due to the financial crisis. As for the Danone deal, the hearing date has been fixed for September 6, 2011.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Indian stock markets trade flat". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Feb 20, 2018 (Close)