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?  

Realty & Metal drag markets down
Thu, 22 Sep 11:30 am

Indian stock market indices continued to trade weak over the last two hours of trade on the back of persistent selling across index heavyweights. All sectoral indices are trading in the red. Realty and Metal stocks are witnessing maximum selling pressure.

The BSE-Sensex is down by 306 points and NSE-Nifty is down by 93 points at the moment. BSE Mid Cap and BSE Small Cap indices are down by 1.44% and 1.3% respectively. The rupee is trading at 48.73 to the US dollar.

Banking stocks are trading weak led by Indusind Bank and Dena Bank. As per a leading financial daily, Yes Bank and Malayan Banking Berhad (Maybank), Malaysia's No 1 Bank entered into an alliance to provide cross border investment banking advisory, corporate banking, trade finance, remittances and other allied services. With this, the banks expect to leverage their combined expertise. It will also provide better local knowledge and stronger corporate relationships. Also, the deal is likely to further the trade in the South East Asia region. As per the management of Yes Bank, this is a step in fulfilling their commitment towards the India-South East Asian business corridor. Yes Bank is currently trading down by 2.6%.

Power stocks are trading in the red with Power Trading Coropration of India (PTC India) and Crompton Greaves leading the pack of losers. According to a leading financial daily, the world's largest coal miner Coal India is planning to start 5 m tonnes per annum (MTPA) production from 2 coal blocks in Mozambique by 2015. The company was awarded 2 coal blocks in August 2009 by the government of Mozambique through a global tender process. The 2 mines in Mozambique have an estimated reserve of 1 bn tonnes. The company is also looking to acquire more mines in the African continent. A parliamentary panel had earlier asked the coal ministry to fast track the acquisition process.

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 "Realty & Metal drag markets down". 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.