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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian markets mirror Asia 
(Thu, 26 Nov 10:30 am) 
 
The Indian markets opened below the breakeven mark, and have not managed to breach the dotted line although they have managed to move northwards since then. Asia is currently trading in the red with Indonesia (down 1.2%) leading the pack of losers. The US markets closed higher by 0.3% yesterday.

Currently, in India, heavyweights from the BSE-Sensex are trading a mixed bag with metal and telecom stocks leading the pack of gainers. However banking and auto majors are in the red. The BSE-Sensex is trading lower by 14 points, while the NSE-Nifty is down by 10 points. However, buying interest is being witnessed among mid and small-cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.1% and 0.3% respectively. The rupee is trading at 46.29 to the US dollar.

PSU banks have opened the day on a mixed note. Gainers here include PNB and Bank of India, while UCO Bank and Indian Bank are trading weak. As per a leading business daily, IDBI Bank has identified a potential merger target. This comes on the heels of Canara Bank and Union Bank of India also looking to increase their size through the inorganic route. It may be noted that the government has specifically mentioned that IDBI Bank will not be merged with another bank. This is despite the fact that it is smaller than many other public sector banks. In our opinion, while IDBI Bank will not be acquired, it could target smaller banks once it has sufficient capital and the banking sector is ready for consolidation.

Food stocks have opened the day on a mixed note. While Nestle is trading in the green, ITC and Britannia are trading weak. As per a leading business daily, ITC is open to demerger of its business verticals into separate entities as they grow larger. However, it will do so keeping in mind the synergies between the various verticals. The company has a presence in a wide variety of sectors such as cigarette, hotel, paper, agriculture and FMCG. ITC also plans to continue investing in the FMCG business with the aim of becoming the leader in the space. It may be noted that the company now has more than 150 distinct food products under 6 brands and has been displaying brisk growth. Given its sizeable cash reserves, the company does not intend to bring in any fresh capital.

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19 Responses to "Indian markets mirror Asia"

subu

Nov 26, 2009

PLEASE REVERT TO OLD FORMAT, we cant view 25,50 shares gainers/losers, please this will help, thanks, regards
subu

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Mark Fernandes

Nov 26, 2009

Good afternoon

My stock under "Get more info" should show also ValuePro like ResearchPro etc. Furthermore, when detai quotation was asked for whatever latest reports of that particular scrip etc. were shown underneath but it is now missing. You need to click individual menus like stock select, ResearchPro (ValuePro is missing)menus have to be clicked.

Thanks and kind regards

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enudeen

Nov 26, 2009

Earlier version was much better. If you are serious about viewers comments - please revert back.

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Ganesh S

Nov 26, 2009

Former Format was excellent and user friendly when compared to this present format.

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kunhan

Nov 26, 2009

Catogorywise top gainers and losers section is a must
Today's market should appear first then the commentary.

new layout does not contribute towards "improvement"

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Sonny Varghese

Nov 26, 2009

Please go back to the previous format

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Raju

Nov 26, 2009

Previous version/ format was user friendly.

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raj

Nov 26, 2009

The new format is not good and also not practical.Do not force people to read the content .

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Sandy

Nov 26, 2009

I agree with all. Restore the original page. Those who are interested can always scroll down. In staed of farcing the users to read the story, make the story more crisp and attractive.....

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shekhar

Nov 26, 2009

where is the tab for top 25 shares.It was very useful.
Numbers have to be the first view then commentary.

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