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?  

Lower despite positive global cues
Wed, 12 Dec Closing

Indices in the Indian equity markets that were trading slightly in the positive before the final hour changed course and consequently, closed the session on a slightly negative note. Thus, while BSE-Sensex ended lower by around 30 points, decline on the NSE-Nifty was marginal at around 10 points (down 0.2%). BSE Mid Cap and BSE Small Cap indices also closed flat albeit with a slightly positive bias. Nearly two stocks closed lower for every stock that ended higher on the Sensex today.

While most Asian indices closed higher today, Europe too is displaying positive trend currently. The rupee was placed at Rs 54.2 to the dollar at the time of writing.

This is the third consecutive time of the week where the markets have behaved in a lacklustre manner. And it isn't that there has been some bad news recently. On the contrary, the past couple of days have seen some good positive developments and despite this, investors have chosen to remain inactive. Select Mid and Small Cap stocks however continued to evince interest on the back of strong fundamentals and attractive valuations.

In a first for an Indian borrower, ICICI Bank, India's second largest banking entity, has raised 100 m Swiss Francs through a seven year bond issue. The bonds have been priced at coupon and offer a yield of around 2.75%. They have been rated 'stable' by Moodys'. A leading daily reports that since previous Swiss Franc bond sales from India have been in the 5-year tenure space, ICICI's latest issue will help develop the yield curve for Indian borrowers. The stock closed lower by around 1% today.

Arvind Ltd, one of India's and also world's largest denim manufacturers, has signed an exclusive distribution agreement with the iconic surf lifestyle brand Billabong in India. After the agreement, Arvind will merchandise Billabong's products through stand alone as well as multibrand stores. Billabong on the other hand will get to use Arvind's expertise in building international brands in India. Billabong is one of the world's largest surfwear brands with a turnover of more than Rs 80 bn. Arvind closed higher by around 3% on the bourses today.

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 "Lower despite positive global cues". 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.