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 firm
Thu, 28 Aug 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in Taiwan (down 0.1%) and Japan (down 0.5%) leading the losses. However, the stock markets in Singapore (up 0.4%) and Indonesia (up 0.4%) were leading the gains. The Indian share markets have opened the day on a firm note. Barring realty, all sectoral indices have opened in the green with capital goods and realty sector leading the gains.

Both the BSE-Sensex and NSE-Nifty have opened on a positive note. The Sensex was trading higher by 97 points (0.4%) while Nifty was trading higher by 25 points (0.3%). Both mid and small cap indices have opened on a positive note. BSE Mid Cap index is up by around 0.3% and BSE Small Cap index is up by around 0.5%. The rupee is currently trading at Rs 60.39 to the US dollar.

Hotel stocks have opened the day mixed with EIH Ltd and Indian Hotels Ltd leading the gains. However, Taj GVK Ltd and Hotel Leela Ventures Ltd were facing losses. As per a leading financial daily, Indian Hotels Company (IHCL) , the country's biggest hotel chain is planning to increase its capacity by 26% in the coming years at a capex of Rs 4.5 bn. IHCL currently has 125 hotels. It has plans to add 33 new hotels across its four brands - Taj, Vivanta by Taj, Gateway, and Ginger. These 33 hotels together will have 3,700 rooms, which will take IHCL's total number of rooms to about 20,000. The management believes that political and economic environment and the sentiment in the hospitality sector will improve and aims to maintain market leadership.

Energy stocks have opened the day mainly in the green with Bharat Petroleum Corporation Ltd (BPCL) and Gujarat State Petronet Ltd (GSPL) leading the gains. However, Petronet LNG Ltd and Oil and Natural Gas Corporation (ONGC) were facing losses. As per a leading financial daily, BPCL is planning a capex of Rs 350 bn in the next three years. Around 50% of this amount is likely to be used to increase its refining capacity by one third and to upgrade existing refineries to produce cleaner fuel. The rest of the funds will be used for investing in overseas exploration projects. The investment in exploration and production is likely to happen in the latter part of the three years. BPCL is also planning to strengthen its natural gas infrastructure such as city gas distribution.

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 firm". 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.