Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Indian markets open flat
Mon, 28 Sep 09:30 am

The major Asian stock markets Asian stock markets have opened the day in red. Stock markets in Indonesia, Japan and Singapore are trading lower by 1.7%, 1.4% and 0.6% respectively. The major stock indices in the European markets ended their previous session on an encouraging note. However, the benchmark indices in US ended their previous session down by 1%. The rupee is trading at 66.04 per US dollar.

Back home, the Indian stock markets have opened the day on a flattish note. BSE-Sensex is trading up by 27 points (up 0.1%) while, NSE-Nifty is trading down by 1 points (down 0.01%). Both S&P BSE Midcap and S&P BSE Smallcap have opened on an encouraging note and are trading up by 0.4% and 0.5% respectively. Sectoral indices have opened the day on a mixed note with stocks from banking and information technology (IT) sector witnessing the maximum buying interest. However stocks from metals & mining and automobile sector are witnessing selling pressure.

As per an article in Business Standard, Maruti Suzuki raised the average gross salary of its workers in its Manesar and Gurgoan plants. The salary has been hiked by Rs 16800 per month. However this wage hike is spread over the three years. Reportedly, the estimated financial impact of the wage hike on the company during the current financial year is estimated at Rs 1.30 bn. Further, this cost is expected to be Rs 0.65 bn for the second and third year each. However the company has already budgeted for the increase. The stock of Maruti Suzuki is trading down by 0.2%.

As per an article in Economic Times, U.S Food and Drug Administration (USFDA) has cancelled an approval issued to Sun Pharma Advance Research Company (SPARC) in relation to launch of a drug for seizures. SPARC is the research arm of Sun Pharmaceutical Ltd. The approval has been revoked citing manufacturing quality problems at its production site. The move comes as a setback to SPARC as the drug 'Elepsia XR' was its first one to receive an FDA approval. Reportedly, it was estimated the sales of this drug could be around USD$ 50 m annually from Elepsia XR. The stock of SPARC and Sun Pharmaceutical is trading down by 3% & 2.4% respectively.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Indian markets open flat". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Nov 24, 2017 (Close)