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 stock markets open in the green
Mon, 10 Nov 09:30 am

Barring Japan (down 0.5%), the major Asian equity markets have opened the day on a positive note with markets in Hong Kong (up 1.7%) and Taiwan (up 1.4%) leading the gains. The Indian share markets have opened the day on a positive note. The sectoral indices have opened mixed with the stocks in the FMCG and healthcare space leading the gains. However, stocks in capital goods and software segment were leading the losses.

The Sensex today is up by around 49 points (0.2%), while the NSE-Nifty is up by about 17 points (0.2%). The mid cap and small cap stocks have opened in the green as well with BSE Mid Cap index and BSE Small Cap index up by around 0.3% and 0.4% respectively. The rupee is currently trading at Rs 61.48 to the US dollar.

Energy stocks have opened the day on a mixed note with Oil and Natural Gas Corporation Ltd (ONGC) and Essar Oil Ltd leading the losses. However, Gujarat State Petronet Ltd (GSPL) and MRPL were leading the gains. As per a leading financial daily, the subsidy on domestic LPG has been fixed at Rs 568 per cylinder to be borne equally by the government and national oil companies (NOCs), thus setting the stage for deregulating the pricing of domestic cooking gas. The proposed subsidy is higher than current under-recovery of Rs 416.35 per cylinder. It has also been decided to keep the consumer price unchanged during FY15, after which the deliverable price could vary with the change in international price. The position of actual subsidy requirement would be reviewed in March 2015. As per the petroleum minister Dharmendra Pradhan, any surplus to the oil marketing companies would be kept in a pool account and would be set off against higher international prices in future.

Mining stocks have opened mixed with Coal India Ltd and NMDC Ltd leading the gains. However, MMTC Ltd and Gujarat NRE Coke Ltd were leading the losses. Coal India Ltd has announced results for the quarter ended September 2014. The company has reported a muted growth of 1.7% YoY in the revenues for the quarter. The coal production for the quarter increased 5% YoY. The consolidated net profit for the quarter declined by 28% YoY. The bottomline registered a decline due to flattish sales growth and around 8% YoY growth in the expenses, most of which were on employee benefits.

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 stock markets open in the green". 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.