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?  

IT & energy stocks drag down markets
Mon, 15 Dec 11:30 am

After opening weak, the Indian Indices have remained below the dotted line during the morning session. IT and energy stocks are witnessing the maximum selling pressure. However, banking stocks are trading in the green.

The BSE-Sensex is trading down 72 points. The NSE-Nifty is trading down 12 points. The BSE Mid Cap index is trading down 0.1% and the BSE Small Cap index is trading down 0.2%. The rupee is trading at 62.70 to the US dollar.

Most telecom stocks are trading lower today. Reliance Communications and Tata Teleservices are leading the losers. As per a leading financial daily, the government is in the final stages of preparing the guidelines for the Feb 2015 spectrum auctions. The defense ministry has agreed to vacate 5 MHz of premium 3G spectrum in 17 circles (in the 2,100 MHz band) for the auctions. The additional 2G airwaves to be sold are the 900 MHz and 1,800 MHz GSM frequencies as well as the 800 MHz CDMA frequency. The final quantum of the spectrum on offer will be decided soon. The pricing for all the frequencies except for the 2,100 MHz, has already been worked out. The regulator TRAI is currently working on the pricing of the 2,100 MHz band. The government is keen to avoid a situation of aggressive overbidding at the auctions and is likely to sell the 2G and 3G airwaves simultaneously. The matter will go to the union cabinet for further approval.

Most software stocks are trading lower today. Tata Consultancy Services (TCS) and Tech Mahindra are leading the losers. India's largest software firm Tata Consultancy Services (TCS), has stated that revenue growth would be muted for the Dec 2014 quarter. The company expects US dollar revenues growth to come in at 1.5% QoQ. The December quarter is a seasonally weak quarter for Indian IT firms due to the holiday season in the western world. TCS expects the banking, financial services and insurance (BFSI), retail, manufacturing and hi-tech verticals to witness some negative impact. However, the company expects Europe to deliver higher growth than the company average. TCS was trading down 3.1% at the time of writing.

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 "IT & energy stocks drag down markets". 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.