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?  

Indian share markets widen losses
Mon, 8 Oct 01:30 pm

After a weak opening, Indian share markets continued to slip deeper into the red in the post-noon trading session. Barring pharma and FMCG, all the sectoral indices are trading in the negative with realty, oil & gas and capital goods stocks leading the pack of losers.

BSE-Sensex is down 151 points and NSE-Nifty is trading down 52 points. While BSE Mid Cap index is down by 0.1%, BSE Small Cap index is marginally up. The rupee is trading at 52.2 to the US dollar.

Majority of the power stocks are trading in the red with Tata Power and Reliance Infra leading the pack of losers. As per a leading financial daily, Tata Power's distribution arm Tata Power Delhi Distribution Ltd (TPDDL) is bidding for three power distribution companies in Nigeria. Out of the total of 54 companies that had bid for them, 21 firms including TPDDL have cleared the technical evaluation process. For this purpose, TPDDL has formed two separate consortiums with two African companies. The total investment required in setting up the three distribution companies has been estimated at US$ 900 m. Tata Power is expected to fund its share in the consortiums through the equity route. The Nigerian government has commenced privatization of the power sector in 2010.

Finance Minister, P. Chidambaram believes that the slowdown in the Indian economy is not really a cause for undue worry. At a recent conference, the FM mentioned that market sentiments have been affected by the challenging times in the global economy. India's economy has fared better than the global economy, which saw a drop from 5.3% in 2010 to 3.5% during the next two years. India performed better, growing by 6.5% during FY12. However, during the first quarter of the current year, the growth rate slowed down to 5.5%. The advanced economies grew in the range of 1.4% to 3.2% over the past three years. The FM also added that while the tight monetary policy of the Reserve Bank of India (RBI) is aimed at taming inflation, it has also dampened growth. He is of the view that the foremost task is to augment savings and then channelize such savings into investments. Having said that, the government on its part also needs to focus on cutting down deficit and removing supply side bottlenecks if inflation has to remain within acceptable levels going forward.

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 share markets widen losses". 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.