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 stocks markets open in red
Fri, 21 Oct 09:30 am

Asian stock markets have opened the day on a mixed note. Stock markets in China (down 0.3%), Indonesia (down 0.2%) and Japan (down 0.1%) are in the red while Honk Kong (up 0.1%), Singapore (up 0.6%) and South Korea (up 1.0%) are in the green. The Indian stock markets have opened the day on a flat note with a negative bias. Stocks in the Oil & Gas and Realty space are leading the losses. However, auto stocks are in the green.

The BSE-Sensex is trading lower by 2 points (0.01%) and the NSE-Nifty is lower by around 20 points (0.4%). However, BSE Midcap and BSE Small cap stocks are trading in the green, with the BSE Mid Cap and BSE Small Cap indices up by 0.1% and 0.2% respectively. The rupee is trading at 49.85 to the US dollar.

Pharma Stocks have opened the day on a firm note with Ranbaxy and Sun Pharma in the green. Biocon has announced its first quarter results for 2012 (2QFY12). The company has reported 21.0% YoY increase in sales while net profits have increased by 4.6% YoY. Net sales growth was supported by strong performance of biopharma and contract research services. Operating margins (EBIDTA) decreased by 460 basis points (4.6%) on account of higher employee costs and raw material costs (as a percentage of sales). Increase in R&D (research & development) expenditure put further pressure on margins. Net profits, without considering AxiCorp, grew by a mere 4.6% YoY due to a sharp fall in operating margins.

Private bank stocks have opened the day on a weak note with Housing Development Finance Corporation (HDFC Bank) and Yes Bank leading the losses. Yes Bank has declared the results for the second quarter and first half of the financial year 2011-12 (1HFY12). The bank has reported a 29% year-on-year (YoY) growth in net interest income and 36% YoY growth in net profits for the half year period ended September 2011. Interest income grew by 29% YoY in 1HFY12 on the back of a 26% YoY growth in advances. The net interest margins (NIMs) were marginally affected due to pressure on interest costs. Other income grew by 38% YoY due to a strong growth in fee income. The bank had negligible net non-performing assets (NPA) to advances. Gross NPAs stood at 0.2% of advances at the end of September 2011. The capital adequacy ratio (CAR) stands at a comfortable level of 16% at the end of 1HFY12.

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 stocks markets open in 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 21, 2018 09:49 AM