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 share markets open firm
Wed, 5 Dec 09:30 am

Most major Asian stock markets have opened the day on a firm note with stock markets in China (up 3%) and Hong Kong (up 1.3%) leading with substantial gains. The Indian share markets have also opened the day on a firm note. Stocks in the realty and metal space are leading the gains. However, information technology stocks are trading weak.

The Sensex today is up by around 79 points (0.4%), while the NSE-Nifty is up by around 19 points (0.3%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% each. The rupee is trading at Rs 54.54 to the US dollar.

Food stocks have opened the week on a positive note with Ruchi Soya Industries, Agro Tech Foods and GlaxoSmithKline Consumer Healthcare leading the pack of gainers. As per a leading financial daily, UK-based GlaxoSmithKline Plc is set to acquire 31.8% stake in its Indian subsidiary GSK Consumer Healthcare. The open offer will commence on January 17, 2013 and end on January 30, 2013. The UK-based parent firm would buy the shares of the Indian consumer healthcare business at Rs 3,900 per share. This would take the potential total value of the transaction to about Rs 52.2 bn. It must be note that last month the parent company had put forth an offer to raise its stake in the Indian subsidiary to up to 75%. As of September 30, 2012, the foreign promoter held 43.2% stake in GSK Consumer Healthcare.

Bank stocks have also opened the day on a firm note with Punjab National Bank (PNB), Bank of India and Axis Bank trading in the green. As per a leading financial daily, the Reserve Bank of India (RBI) has set up a supervisory college each for state-run State Bank of India (SBI) and private sector lender ICICI Bank. The aim of the supervisory college is to deal with supervisory issues concerning these banks as well as to establish a cooperation mechanism for cross-border supervision. The reason for choosing these two banks for the supervisory college is the fact that both these banks have significant cross-border presence. While SBI will have nine host country supervisors, ICICI Bank will have seven of them. It is worth noting that SBI, which is the largest bank in India, has the largest number of foreign officers among Indian banks. ICICI Bank also has a sizeable presence abroad. As per the central bank, supervisory colleges have evolved across the world as a vital component of effective supervisory oversight of an international banking group.

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 share markets open firm". 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.