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?  

Markets continue to slide
Fri, 11 Nov 01:30 pm

Indian stock market indices continued to trade weak over the last two hours of trade on the back of heavy selling activity witnessed across index heavyweights. Banking and Metal stocks witnessed maximum selling pressure, while Auto and FMCG stocks witnessed maximum buying interest.

The BSE-Sensex is down 224 points, while the NSE-Nifty is down 72 points. The BSE Mid Cap index and the BSE Small Cap index are down by 1.3% and 1.7% respectively. The rupee is trading at 50.24 to the US dollar.

Cement stocks are trading mixed with Ultra Tech Cement and Shree Cement trading the strongest and JK Laxmi Cements and India Cements leading the pack of losers. Shree Cement has reported results for the quarter ended September 30, 2011 (2QFY12). The growth in the company's bottomline zoomed to 266% on a year on year basis (YoY). The company's total income was up 15.3% YoY. Segmentwise, the cement business contributed Rs 8.5 bn to the company's topline and the power segment contributed Rs 800 m. Meanwhile, the consumption of raw material and power and fuel costs stood at Rs 900 m and Rs 2 bn, respectively, during the reporting quarters.

Oil stocks are trading in the red led by BPCL and Essar Oil. As per a leading financial daily, ONGC is in discussion with Rashtriya Ispat Nigam (RINL) and Bharat Heavy Electricals (BHEL) for a joint venture manufacturing plant at Vizag worth Rs 20 bn. The proposed joint venture agreement is likely to be signed before the end of the current year and once that is done it will go for tendering for the plant and machinery. The plant is expected to become operational in two to two-and-a-half years from the start of tendering. RINL will hold the majority stake in the JV as the proposed facility will be housed inside RINL's Vizag facility. The mill will have 400,000 tonne per annum seamless tube installed production capacity. The stock was trading in the green.

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 "Markets continue to slide". 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


Mar 20, 2018 (Close)