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?  

Banking & IT stocks soar
Fri, 22 Aug Closing

After trading marginally above the dotted line during post noon trading session, the Indian equity markets seemed directionless and closed flat. While the BSE-Sensex today closed higher by 59 points, the NSE-Nifty closed higher by 22 points. Even Midcaps and Smallcaps followed broader market trend and closed with marginal gains. While the BSE Mid Cap index closed higher by 0.22%, the BSE Small Cap index closed flat. IT and banking stocks were the biggest gainers today.

As regards global markets, Asian indices closed mixed today. The rupee was trading at Rs 60.55 to the dollar at the time of writing.

Sugar stocks ended the day on a strong note today. Uttam Sugars and Bajaj Hindustan were the top gainers. The government has decided to increase the import duty on sugar from 15% to 25% in order to protect the domestic producers. It may be noted that the domestic producers owe about Rs 150 bn to farmers and were demanding a duty of 40%. While the increase is less than anticipated it is likely to help the producers in a big way as dumping from foreign markets will no longer be feasible now. Until now excessive imports were hurting domestic producers. With the levy being increased the financial health of the domestic producers is likely to improve and they will be in a better position to repay their dues to the farmers.

Auto stocks have closed the day on a negative note. The stocks of Escorts and TVS Motors have ended the day with the biggest declines. As per a leading business daily, Maruti Suzuki's management expects the economy to recover during the next few months. It expects the current positive demand trend to continue into the coming festive season and the following months. In view of this, it is planning to launch a Light Commercial Vehicle (LCV) next year. Further, the company plans to achieve a significantly higher sales target of 3 m units over the longer term from the present target of 1.2 m. million. For this, it is also planning to increase its number of models from 12 to 25.

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 "Banking & IT stocks soar". 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.