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?  

Markets will remain closed on April 17, 2024 on account of Ram Navami.

Indian markets trade positively
Wed, 30 Sep 11:30 am

After a robust start, the Indian Markets have continued to trade positively. Sectoral indices are trading on a mixed note with pharma and metal stocks leading the gains. However banking stocks are witnessing selling pressure.

The BSE-Sensex is trading up 200 points (up 0.8%) and the NSE-Nifty is trading up 51 points (up 0.7%). The S&P BSE Midcap index and the S&P BSE Smallcap index are also trading firm, both up by about 0.9%. The rupee is trading at 65.75 to the US$.

Stocks in the steel sector are trading on an encouraging note with Tayo Rolls and Tata Steel leading the gainers. As per an article in Economic Times, domestic steel producers are expected to increase prices by up to Rs 1,500 per tonne in order to take advantage of the hike in the safeguard duty. The government had, earlier this month, imposed a provisional safeguard duty of 20% on imports of certain hot rolled fat steel products with a view to protect domestic producers. As reported, government spending on public projects coupled with the industrial activity is expected to pick up in the second half of this fiscal. These factors along with a depreciating rupee against the US$ could provide a good opportunity to the steel producers to raise prices. This would help them by improve their realizations. In all, a stabilizing impact on domestic prices and demand-supply equation could be on the cards.

As per a leading financial daily, the Reserve Bank of India (RBI) has allowed companies to raise up to Rs US$ 750 million from overseas markets under the automatic route, through rupee-denominated bonds. With this announcement on Tuesday, the banking regulator has also allowed Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (IITs) to raise funds under this route. The proceeds from these, as stated by the RBI, can be used for all purposes except for equity investments domestically, real estate activities other than for development of integrated township or affordable housing projects. These bonds will come with a minimum maturity period of five years. This could help some realty players ease their liquidity position.

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 "Indian markets trade positively". 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.