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
Wed, 3 Dec 09:30 am

The major Asian stock markets have opened the day on mixed note with stock markets in Japan (up 0.8%) and Taiwan (up 1.5%) leading the gains. However, stock markets in Hong Kong (down 0.2%) and Malaysia (down 0.8%) were witnessing selling pressure. The Indian share markets have opened the day on a negative note. Sectoral indices have opened mixed with FMCG and software stocks leading the losses, while stocks in the auto and capital goods segment are leading the gains.

The Sensex today is down by around 45 points (0.2%), while the NSE-Nifty is down by about 5 points (0.1%). However, the mid cap and small cap stocks have opened in the green with BSE Mid Cap index and BSE Small Cap index up by 0.9% and 0.8% respectively. The rupee is currently trading at Rs 61.92 to the US dollar.

Telecom stocks have opened mainly in the green with Himachal Futuristic Ltd and ITI Ltd leading the gains. However, Idea Cellular Ltd and ADC India Communications Ltd were facing selling pressure. As per a leading financial daily, the government plans to conduct 3G spectrum auctions along with 2G radiowaves sale in February 2015. It has asked telecom regulator TRAI to speed up the base price recommendations on the reserve price of 2100 MHz band (used for 3G services) and related issues. As per the regulator, the Department of Telecom is in talks with the Defence Ministry for the vacation of the band and there are three possible scenarios being considered. Both telecom companies and the regulator believe that the auction should take place only when adequate spectrum is made available, and the bidding for both 2G and 3G should happen simultaneously.

Auto stocks have opened the day mainly in the green with TVS Motors Ltd and Eicher Motors Ltd leading the gains. Bajaj Auto Ltd has reported a 6% year on year (YoY) drop in motorcycle sales to 2.61 lakh units in the month of November 2014. Total sales volumes of company's two- and three-wheelers too have gone flat as the company has sold 3.09 lakh units in the month compared to 3.10 lakh units it sold a year earlier. Total exports have increased 24% YoY to 1.64 lakh units. It is noteworthy that exports now account for 53.59% of the company's total volumes. Bajaj Auto's commercial vehicles sales went up 48% YoY to 47,311 units - the highest-ever November sales for the segment. So far, the total sales in FY15 are up 4% YoY, of which motorcycles sales are up by just 2% YoY and commercial vehicle (CV) sales are up 22% YoY. Exports so far in FY15 have grown by 24% YoY.

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.