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?  

Global indices continue their weak trend
Wed, 23 Nov 09:30 am

Asian stock markets have opened the day on a weak note. Stock markets in Hong Kong (down 1.8%), South Korea (down 1.8%), Singapore (down 1.3%), Indonesia (down 1.3%), Japan (down 0.4%) and China (down 0.3%) are in the red. The Indian stock market have opened the day on a weak note. Stocks in the metal and Information Technology (IT) space are leading the losses.

The BSE-Sensex is trading down by 223 points (1.4%) and the NSE-Nifty is down by around 72 points (1.5%). Mid cap and small cap stocks are trading in the red, with the BSE Mid Cap and BSE Small Cap indices down by 0.8% and 0.3% respectively. The rupee is trading at 52.12 to the US dollar.

Auto stocks have opened the day on a weak note with Mahindra & Mahindra and Maruti Suzuki trading in the red. Heavy vehicles manufacturer Ashok Leyland and US-based agriculture machinery manufacturer John Deere have marked their entry into the Indian construction equipment industry with the launch of earth mover 435 Backhoe Loader. This is the first product of the partnership. The two companies had formed a 50:50 joint venture (JV) by the name of Ashok Leyland John Deere Construction Equipment Company almost 3 years back. While John Deere has advanced technical know-how and experience in the global construction equipment space, Ashok Leyland has a good understanding of the Indian market and has an expertise in manufacturing, sourcing and distribution. The JV company is in the process of introducing at least 2 more products, including a wheel loader, in the coming future.

Pharma Stocks have opened the day on a weak note with Aurobindo Pharma and Ranbaxy in the red. Ranbaxy has declared its third quarter results for calendar year 2011-2012 (3QCY11). Ranbaxy's net sales grew by a lukewarm 8.7% YoY, adversely affected by the decline in the US generics business and weak growth in the domestic market. The US business showed a 3% YoY de-growth in dollar terms on account of price erosion in some of its products. Operating margins (EBITDA) increased by 110 bps (1.1%) to 8.3% aided by lower other operating expenses. The net loss in the quarter stood at Rs 4.6 bn as against net profits of Rs 3 bn in the corresponding quarter last year. This was majorly on account of the forex losses on outstanding loans.

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 "Global indices continue their weak trend". 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.