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 weak
Tue, 10 Dec 09:30 am

Asian stock markets have opened the day on a mixed note with South Korea (down 0.4%) and Singapore (down 0.3%) leading the losses. However, markets in Indonesia (up 1.2%) and China (up 0.2%) are trading firm. The Indian equity markets indices have opened the day on a negative note. Stocks in the power, banking and capital goods space are leading the losses. However, information technology and consumer durables stocks are trading firm.

The Sensex today is down by around 73 points (0.3%), while the NSE-Nifty is down by around 21 point (0.3%). Mid and small cap stocks are also trading in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.04% and 0.1% respectively. The rupee is currently trading at Rs 61.13 to the US dollar.

Mining stocks have opened the day on a mixed note with Ashapura Minechem and Gujarat NRE Coke leading the losses. However, Hindustan Zinc and Sesa Sterlite are trading firm. As per a leading financial daily, state-run coal mining giant Coal India Ltd (CIL) is planning to invest Rs 76 bn to develop Kusmunda mine to a production capacity of about 50 million tonnes per annum. The Kusmunda mine is part of CIL's subsidiary South Eastern Coalfields Ltd (SECL). Currently, the mine has an annual production capacity of 15 million tonnes. If the company manages to expand the capacity to 50 million tonnes, it will not only make it the largest mine in India but also one of the largest mines in the world. The expansion plan includes ramping up railway capacity for evacuating this coal. The company plans to achieve the production capacity of 50 million tonne through existing techniques of shove-dumper mix and in-pit conveyors, which will transport the coal from the mine to the stockyard.

Auto stocks have opened the day on a firm note with Eicher Motors, Escorts and Bajaj Auto leading the gains. As per a leading financial daily, Mahindra Two Wheelers Ltd- the scooter and motorcycle making arm of Mahindra and Mahindra Ltd, is planning to augment its production owing to growing demand for its Centuro model as well as to support the upcoming 6-8 vehicle launches over the next couple of years. Mahindra is planning to increase its capacity to 1,700-1,800 vehicles per day by the end of financial year 2013-14 (FY14). It is noteworthy that the company has already managed to increase its capacity to 1,200 units per day from 500-600 units per day when it had started. The company is open for tie-up for brand and technology.

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 weak". 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.