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 stock markets move into red
Wed, 5 Oct 01:30 pm

The Indian stock market lost all the morning session gains during the last hour of trade and is now trading in the red. Stocks from the banking, oil & gas and public sector units space are leading the pack of losers while those from healthcare, FMCG and realty are finding investor favour.

The BSE-Sensex is trading down by 65 points while NSE-Nifty is trading 16 points below yesterday's closing. The BSE Mid Cap and BSE Small Cap indices are trading down by 0.5% and 0.6% respectively. The rupee is trading at 49.29 to the US dollar.

Telecom stocks have been trading mixed with Reliance Communications and ADC India Communications leading the pack of gainers. However, AGC Networks, Industry Training Institute Ltd (ITI) and Mahanagar Telephone Nigam Ltd (MTNL) are trading weak. As per a leading financial daily, Tata Group and Aditya Birla Group have reached an out-of-court settlement to resolve a five-year-old dispute over mobile operator Idea Cellular Ltd. As per industry sources, Tata Group has withdrawn its plea for arbitration. Earlier, before selling its 48% stake in Idea Cellular to Birla, Tata had served two notices on Birla seeking termination of the joint venture that accused the latter of violating the shareholders' agreement. The resolution of the dispute frees a lien on Idea Cellular for a possible share sale in the future. However, the stock of Idea Cellular is trading weak.

Energy stocks have been trading mixed with Essar Oil, Cairn India and Indraprastha Gas leading the pack of gainers. However, Gujarat Gas and Gas Authority of India Ltd (GAIL) are trading weak. As per a leading financial daily, GAIL might have over paid for acquiring shale gas assets in US last week. The company plans to make an investment worth US$ 300 m in shale gas assets over the next five years. As compared to US$ 11,144 an acre paid by Reliance Industries Ltd, it has paid US$ 23,515. However, as per some industry analysts, the comparison may not be fair on a per acre basis due to heterogeneity in shale gas plays and different production profiles. In a separate news, GAIL India Ltd along with its joint venture company Indraprastha Gas limited is planning a city gas distribution project in Qatar.

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 stock markets move into red". 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


Feb 19, 2018 (Close)