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?  

Auto stocks lead markets higher
Wed, 22 Sep 09:30 am

The Indian markets have started today's session on a positive note. The benchmark indices opened above the breakeven mark and have stayed firmly in the positive territory. Other key Asian markets are in the green with Hong Kong (up 0.9%) leading the pack of gainers. The US markets ended higher by 0.1% yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading strong with auto majors attracting investors' interest. The BSE-Sensex is trading higher by around 70 points, while the NSE-Nifty is up by about 15 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.3% and 0.4% respectively. The rupee is trading at 45.5 to the US dollar.

Energy stocks have opened the day on a positive note. Gainers here include Castrol and Indraprastha Gas. As per a leading business daily, ONGC has placed a bid for Russia's giant Arctic Trebs and Titov oil deposits. They hold an estimated 200 m tonnes of oil reserves and will be sold at a government auction in December. ONGC is the only foreign oil company to bid for the fields. However, as the deposits are classified as strategic it is unlikely that ONGC will be able to participate alone. It is likely that Rosneft, Russia's largest oil producer, would be roped in. It may be noted that in March this year, the Russian government said it would consider allowing ONGC bid for the fields. This would help Russia's goal of doubling trade with India to US$ 20 bn by 2015.

Pharma stocks have opened the day on a strong note. Gainers here include Sun Pharma and Cipla. As per a leading business daily, Ranbaxy has received approval from the US health regulator to sell generic Alzheimer's disease drug donepezil hydrochloride in the US market with 180 days of the expiry of exclusive marketing rights. The rights currently rest with Eisai Co's Aricept and will expire in November this year. It may be noted that it part of Ranbaxy's strategy to capitalize on drugs which lose patent in the US markets. As per estimates, drugs worth around US$ 70 bn are expected to lose patent protection between CY09 and CY12 in the US.

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 "Auto stocks lead 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.