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 red
Tue, 2 Dec 09:30 am

The major Asian stock markets have opened the day on mixed note with stock markets in China (up 0.7%) and Singapore (up 0.9%) leading the gains. However, stock markets in Taiwan (down 0.9%) and Malaysia (down 0.5%) were witnessing selling pressure. The Indian share markets have opened the day on a negative note. Sectoral indices have opened mixed with auto and software stocks leading the losses, while stocks in the healthcare and capital goods segment are leading the gains.

The Sensex today is down by around 54 points (0.2%), while the NSE-Nifty is down by about 17 points (0.2%). However, the mid cap and small cap stocks have opened flat with BSE Mid Cap index up by 0.08% and BSE Small Cap index down by 0.04%. The rupee is currently trading at Rs 61.99 to the US dollar.

The Finance Minister Arun Jaitley has recently expressed hope that the much-awaited GST Bill, that offers a uniform indirect tax structure, would be introduced in the current winter session of Parliament. He has suggested that the bill would be taken up by the Cabinet after Empowered Committee (of state finance Minister) meeting on December 12, 2014. The government has proposed to implement GST from April 1, 2016, and the new Finance Commission may be set up ahead of its schedule to look into the issues related to the new indirect tax regime. There are differences between the Centre and states on some issues with regard to the implementation of GST. In the past, the GST rollout has missed several deadlines because of lack of consensus among states over certain key issues regarding GST. Once implemented, it is likely to be major reform for Indian economy.

Indian Pharma stocks have opened the day mainly in the green with Torrent Pharma Ltd and JB Chemicals Ltd leading the gains. As per a leading financial daily, the Competition Commission of India (CCI) has sent back the merger deal worth US$ 4 bn of Sun Pharma Ltd and Ranbaxy Ltd to the respective companies to make certain changes. Both the companies have been asked by the regulator to divest some brands to avoid monopolistic scenario, as the merged entity is likely to create dominant market share in certain key segments (mainly in anti-diabetic and cardiology therapies). It is noteworthy that around 37 drug categories are under scanner for potential market dominance. The merged entity will have 9.2 % share of the Indian pharma market. The regulator is likely to give final views on the deal by December 5.

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 red". 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.