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?  

We are currently facing an issue in receiving the NSE feed. Hence the stock prices are not updated. We are working on fixing this at the earliest. We regret the inconvenience caused.

Indian stock markets open weak
Wed, 11 Sep 09:30 am

The major Asian stock markets have opened the day on a mixed note with stock markets in China (up 0.6%) and Japan (up 0.8%) leading the gains. However, the stock markets in Taiwan (down 0.8%) and Indonesia (down 0.7%) were leading the losses. The Indian stock market indices have opened the day on a weak note. Barring software and healthcare, all sectoral indices have opened the day in the red led by the stocks in the banking and capital goods.

The Sensex today is down by around 133 points (0.7%), while the NSE-Nifty is down by around 50 points (0.9%). The BSE Mid Cap index has opened on a flat note. However small cap stocks have opened in the green with the BSE Small Cap index up by around 0.2%. The rupee is trading at Rs 63.82 to the US dollar.

Energy stocks have opened the day on a mixed note with Indian Oil Corporation Ltd and Jindal Drill Ltd leading the gains. However, Oil and Natural Gas Corporation Ltd (ONGC) and Chennai Petroleum Corporation Ltd (CPCL) are seeing losses. As per a leading financial daily, Indraprastha Gas Ltd (IGL) has raised the prices of compressed natural gas (CNG) and piped natural gas (PNG) in Delhi and NCR regions. The price of CNG in Delhi has been hiked by Rs 3.7 per kg to Rs 45.6 per kg. For regions such as Noida, Greater Noida and Ghaziabad, the price has been raised by Rs 4.2 per kg to Rs 51.5 per kg. The price of PNG has been hiked to Rs 27.5 per standard cubic metres (scm) in Delhi. The price hike has been taken to counter the impact of rupee depreciation against the US dollar in the recent months that has led to increase in the cost of imported gas. The company has consistently raised the price of gas in response to increase in the input costs. This underpins the strong pricing power of IGL. The stock price of IGL has gained on account of this positive news.

Power stocks have opened the day on a mixed note with Neyveli Lignite Ltd and National Hydroelectric Power Corporation Ltd (NHPC) leading the gains. However, Jaiprakash Power and Power Grid Corporation of India Ltd (PGCIL) have opened in the red. As per a leading financial daily, Power Finance Corporation is planning to raise a minimum of Rs 1.5 bn via a private placement of tax free bonds. As per the termsheet, the issue is open to institutional investors and corporate. The firm will issue 10-year tax-free bonds at 8.04 %, 15-year bonds at 8.41%, and 20-year bonds at 8.4%. Besides, the issue has a greenshoe option of Rs 3.76 bn. The issue has been rated AAA by rating agencies like Crisil, ICRA and Care. The firm has scheduled the issue opening and closing for September 13, 2013.

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 stock markets open weak". 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.