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 Markets open weak
Wed, 12 Aug 09:30 am

The major Asian stock markets have opened the day on negative note, as China devalues its currency. The stock markets in Hong Kong market (down 1.74%) , Japan market (down 1.60%) and Singapore market (down 2.65%) are the leading losers in the pack. European and US stock markets too closed their session in red yesterday. The rupee is trading at 64.72 per US dollar.

Indian stock markets too have opened the day weak. BSE-Sensex is trading down by 125 points (down 0.45%) and NSE-Nifty is trading down by 38 points (up 0.46%). The midcap and small cap stocks have too opened in red. Both S&P BSE Midcap and S&P BSE Smallcap are trading down by 0.65% 0.45% respectively. Sectoral indices have opened the day on a mixed note with stocks from metal and, banking sectors are the leading losers. However stocks in information Technology and pharmaceutical space are witnessing buying interest.

Major stocks in the automobile space have opened their day in red. As per an article in Business Standard, the production target of Maruti Suzuki could be affected due to delays in getting approvals for a new manufacturing plant in Gujarat. Suzuki Japan is fully financing the investment in Gujarat. The cars produced at the Gujarat plant will be later sold to Maruti Suzuki at cost price. This move has already been opposed by the minority shareholders as they feel that it would reduce the Indian firm to a mere marketing and sales company in the long run. If the minority shareholders votes against the resolution, it could lead to further delays in the project. The company has ramped up its production in the recently commissioned Manesar Plant-C while the production from the Gurgoan facility has remained at a similar level to that of the previous years. Stock of Maruti Suzuki is trading down by 0.40%.

Stocks in the banking sector have opened their day in red. As per an article in a financial daily, the country's largest lender State Bank of India (SBI) has reported a 10.25% growth in the net profit at Rs 36.92bn for the quarter ended June 30. The growth in the profit comes on the back of non-interest income and a gain in the treasury profits. The gross Non Performing Asset (NPA) stood at Rs 564bn as of June end, which is 4.29% of the gross advances as compared to 4.95% a year ago. Net Interest Margin came down to 3.29% compared to 3.54% a year ago. As on June 30, the credit growth was a mere 6.6% while deposit growth stood at 13.7%.Stock of SBI is trading down by 2.60%.

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 Markets open weak". 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


Jan 22, 2018 03:33 PM