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Indian share markets open flat
Mon, 29 Sep 09:30 am

Asian stock markets have opened the day on a mixed note with the markets in Indonesia (down 0.4%) and Hong Kong (down 1.8%) leading the losses. However, markets in China (up 0.4%) and Japan up (0.4%) are trading firm. The Indian share markets have opened the day on a flat note. The sectoral indices are trading mixed with realty and healthcare indices leading the gains. However, the metal and FMCG indices are trading weak.

The Sensex today is marginally lower by around 3 points (0.01%), while the NSE-Nifty is down by about 1 points (0.01%). However, mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.8% and 1.2% respectively. The rupee is currently trading at Rs 61.27 to the US dollar.

Power sector stocks have opened the day on a mixed note with Reliance Power and Tata Power leading the losses. However, Indiabulls Power and NHPC Ltd are trading firm. As per a reported by Integrated Research and Action for Development, the Indian power sector needs investments of over US$ 250 billion (~Rs 1.5 trillion) over the next three years of the 12th five year plan (2012-17). During this plan period, India plans to add 88,537-MW power generation capacity. Out of this, 69,280 MW is expected to come from coal-based thermal power. The report points out that this will create significant opportunities for investors, developers, power equipment manufacturers in developing power projects and associated transmission infrastructure. It must be noted that currently, India's installed generation capacity, from all sources of energy, is close to 250,000 MW.

Public sector bank stocks have mainly opened the day on a firm note with Andhra Bank, IDBI Bank and Bank of Baroda leading the gains. As per a leading financial daily, leading public sector lender State Bank of India (SBI) is unlikely to make aggressive festive season offers for loan seekers. As per the bank's Chairman Arundhati Bhattacharya, such offers have been to be subsidised by corporate demand. But since the credit pick up from corporates has been slow, the bank may be unable to offer attractive offers during the ongoing festive season. She further mentioned that the scope to lower interest rates for specific products was very limited as the interest rates were already quite low. At the most, the bank would review other charges like the processing fees on products.

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Feb 23, 2018 (Close)