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?  

Volatility mars Indian indices
Thu, 7 Nov Closing

Indian equity markets started the day on a negative note, but quickly moved into the positive territory. However, these gains were eroded in afternoon trades amid a volatile session that saw key benchmark indices moving in a broad range and finally close in the red. IT, pharma and metal sectors led the pack of gainers. While the BSE-Sensex closed lower by 72 points, the NSE-Nifty closed lower by 27 points. BSE Mid Cap and the BSE Small Cap closed on a negative note.

As regards global markets, Asian indices closed in the red. European indices have also opened in the red. The rupee was trading at Rs 62.5 to the dollar at the time of writing.

A leading financial daily reports that the rating agency, Standard & Poor's has reaffirmed sovereign credit rating on India citing a negative outlook for the long-term. The company has affirmed 'BBB-'long term /'A-3' short term sovereign credit rating on India. The rating agency has turned confident about the institutional strengths of India and high international reserves backed by lowering external debt. However, the weaknesses still remain. Lack of adequate structural reforms, subdued growth and uncomfortable government debt levels are the concerns cited by the rating agency. The worries have stemmed from the fact that the significant slowdown in real growth has complicated government's debt dynamics and its ability to undertake reformist measures. Therefore, the overall outlook remains negative and the agency might lower the rating to speculative grade from the current investment grade next year. And if the new government is found incapable of revival of India's low GDP growth, the downgrade stands imminent.

According to a leading financial daily, Wockhardt has finally received some good news. Medicine and Healthcare Products Regulatory Agency, UK, (UKMHRA) has eased restrictions, allowing it to supply most of the products manufactured at Kadaiya facility in Nani Daman to the UK. Last month, UKMHRA had imposed restrictions on import of medicines made at Kadaiya for violation of norms, the second Wockhardt plant to face such action in as many weeks. However, it will take a revenue hit of nearly one million pounds due to import restrictions imposed by the UK health regulator.

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 "Volatility mars Indian indices". 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.