Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Positive start to the day
Fri, 5 Dec 09:30 am

The Indian stock markets began the day on marginally positive note. Other Asian stock markets were trading mixed with Hong Kong up by about 0.7% while China and Japan were down by about 0.6% and 0.1% respectively. On an overall basis, the sectoral indices in India were trading positive, with metals and capital goods stocks leading the pack of gainers.

The Sensex today is up by around 76 points (0.3%), while the NSE-Nifty is up by about 16 points (0.2%). The mid cap and small cap stocks have also opened in the green with BSE Mid Cap index and BSE Small Cap index up by 0.5% and 0.7% respectively. The rupee is currently trading at Rs 61.88 to the US dollar.

Auto stocks opened the day on a mixed note with Mahindra & Mahindra and Bajaj Auto leading the gainers while Tata Motors and Ashok Leyland were the least preferred. The stock of Mahindra and Mahindra has been under pressure of late. This has been largely due to a slowdown in tractor sale volumes coupled with a not so fast growing passenger vehicle segment, which has been impacted by narrowing gap in diesel and petrol prices, coupled with increased competition. As reported in the Mint, the general view is that the lack of new launches and a poor product portfolio is what has been impacting the company in recent times. With declining volumes in the month of November 2014 - after a flat September- the expectation is of further loss of market share in the coming months. As per the business daily, the company's market share in UV space fell to 35% in the quarter ended September 2014 from 46% in the quarter ended June 2014. As for tractor sales, the same fell by a third in the month of November 2014. The company's management has cited the fall on delayed paddy crop, low yield and low prices for sugarcane, cotton and paddy as the key reasons for the volume decline.

Indian banking stocks opened the day on a positive note with Bank of India, Canara Bank and Kotak Mahindra Bank leading the gains. While India's central bank has been maintaining a status quo on interest rates, it seems that banks are likely to cut interest rates in advance - i.e. before the central bank does - given the slowing credit off take. For instance, companies are looking at other cheaper sources of raising money, thereby leading the banks to take up such a move. As reported by the Economic Times, funds mobilized through commercial paper and external sources are lower by about 1.5% to 2% as compared to the banks' base rates. Banks such as HDFC Bank and ICICI Bank were reluctant to cut rates on the back of relatively high cost of borrowings. However, with them having reduced their deposit rates, it seems to be the first step towards cheaper credit.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Positive start to the day". Click here!

  

Related Views on News

HDFC BANK Announces Quarterly Results (3QFY21); Net Profit Up 18.1% (Quarterly Result Update)

Jan 18, 2021 | Updated on Jan 18, 2021

For the quarter ended December 2020, HDFC BANK has posted a net profit of Rs 88 bn (up 18.1% YoY). Sales on the other hand came in at Rs 301 bn (up 2.4% YoY). Read on for a complete analysis of HDFC BANK's quarterly results.

HDFC BANK Announces Quarterly Results (2QFY21); Net Profit Up 18.4% (Quarterly Result Update)

Oct 19, 2020 | Updated on Oct 19, 2020

For the quarter ended September 2020, HDFC BANK has posted a net profit of Rs 75 bn (up 18.4% YoY). Sales on the other hand came in at Rs 300 bn (up 6.4% YoY). Read on for a complete analysis of HDFC BANK's quarterly results.

How the YES Bank Collapse Unfolded - 10 Points (Sector Info)

Mar 9, 2020

A timeline of how YES Bank went from a stock market darling to a pariah.

Today's Stock Market Crash: 10 Points (Sector Info)

Mar 6, 2020

Top factors that dragged the markets lower today.

More Views on News

Most Popular

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Penny Stock Master Series: The Quest for 10X Profits in 10 Years (Profit Hunter)

Feb 12, 2021

This is first of the three part master series. In these editorials, I'll show you how to earn 10X returns from a penny stock portfolio over 10 years.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE BANKEX


Feb 24, 2021 (Close)

S&P BSE BANKEX 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS