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?  

Mid & small cap defy trend
Wed, 17 Sep 01:30 pm

Indian stock markets continued to trade in the positive territory during the previous two trading hours on account of persistent buying activity among the index heavyweights. However, it pared gains from the day's high level. In terms of broader markets, the mid and small cap indices defied the trend and are trading in the red. The sectoral indices of IT and FMCG stocks are leading the pack of gainers, whereas consumer durables stocks is trailing in the red today.

The BSE-Sensex is trading up by 62 points and the NSE-Nifty is trading up by 20 points. However, the BSE Mid Cap index is trading down by 0.4% and the BSE Small Cap index is trading down 0.3% today. The rupee is trading at 60.95 to the US dollar.

Most of the public sector banks are trading in the green led by Vijaya Bank and Indian Overseas Bank. As per a leading financial daily, State Bank of India (SBI) has cut down the interest rates on term deposits, having maturity of one to three years, by 0.25% to 8.75%. As per the bank, it was saddled with excess liquidity with not enough credit demand to match and so the deposit rates are being lowered to adjust asset liability management. The bank has also reduced the loan rates for companies recently. This move by the country's largest lender is likely to trigger deposit rate cuts by other banks also. SBI stock is currently trading up marginally.

Pharma stocks are trading mixed today. Dishman Pharma and Wockhardt Ltd. are leading the pack of gainers, whereas Torrent Pharma and Indoco Remedies are witnessing selling pressure. As per a leading business daily, Aurobindo Pharma has received a final approval from the US Food & Drug Administration (USFDA) for manufacturing and marketing of Amoxicillin for oral suspension. The drug is used for the treatment of infections due to susceptible Betalactamase - negative strains of designated microorganisms. It is the generic equivalent of the reference listed drug product (RLD) Amoxicillin for oral suspension belonging to Teva Pharmaceutical. As per the data from industry body IMS, the drug is expected to have market size of US$ 19 m for the 12 months period ending July 2014. The stock of Aurobindo Pharma is trading higher by over 1% today.

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 "Mid & small cap defy trend". 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.