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?  

IT, banking stocks take markets higher
Thu, 6 Sep 01:30 pm

The Indian equity markets moved higher up into the positive territory during the post noon trading session. Stocks from the information technology, banking and realty spaces are currently leading the gains while stocks from the FMCG and capital goods sectors are amongst the top underperformers.

The Sensex today is trading higher by about 45 points (up 0.4%), while the NSE-Nifty is up by about 25 points (0.5%). Midcap and smallcap stocks are also trading firm with the BSE Mid Cap and BSE Small Cap indices trading higher by 0.5% and 0.3% respectively. The rupee is trading at 55.86 to the US dollar.

Stocks of auto ancillary companies are trading firm led by Amtek Auto, NRB Bearings and Sundaram Fasteners. Automotive Component Manufacturer's Association of India (ACMA) has projected the domestic auto component industry to grow by 8-10% in 2012-13 in the backdrop of a tough market environment. As per ACMA, the Indian economy has been facing a plethora of problems such as sluggish demand, slowdown in the investment cycle, domestic policy paralysis and uncertain trade environment. However under penetration and unfulfilled mobility aspirations of the Indian people continue to remain future growth drivers for the industry. The industry body has forecasted auto component exports to grow by 15-20% during the year.

FMCG stocks are currently trading weak with ITC Limited, United Spirits and Hindustan Unilever leading the pack of underperformers. It is reported that cigarette to hotel major ITC Limited is looking at entering the business of dairy products, drinks and also healthy breakfast foods. As per the management, this move is to do with the changing consumer behavior as Indians are turning health conscious in their food choices. As such, health and nutrition will be an area of focus for the company going forward. While the company would be able to exploit its already existing distribution network, however it will be difficult for it to gain a strong market share given the competitive nature and other large firms operating in these spaces. With the exception of packaged flour, in which the company holds a leading position, ITC has not been able to gain substantial market share in other segments.

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 "IT, banking stocks take markets higher". 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.