X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Realty, FMCG pull markets lower 
(Thu, 27 Dec 01:30 pm) 
 
The Indian markets moved below the dotted line during the post noon trading session. Stocks from the consumer durables, realty and FMCG spaces are amongst the top losers while those from the auto and pharma sectors are amongst the top gainers at the moment.

The Sensex today is trading lower by about 10 points (down 0.1%), while NSE-Nifty is trading lower by about 11 points (down 0.2%). Stocks from the midcap and small spaces are also trading weak with the BSE Mid Cap and the BSE Small Cap indices down by 0.1% and 0.4% respectively. The rupee is trading at 54.89 to the US dollar.

Stocks of steel companies are trading weak with Jindal Saw, Jindal Steel and JSW Ispat leading the list of underperformers. Tata Steel and Steel Authority of India are however trading firm. As per the management of Tata Steel, the domestic steel demand is expected to grow at a level of 7% in FY14 as compared to FY13's expected growth rate of 5.5%. The demand for steel is likely to be stronger on the back of the recent reforms announced by the government. In addition, other initiatives such as the formation of the Cabinet Committee on infrastructure - which provides a single window for mega projects - are expected to push major projects forward. Over and above all this, lower interest rates would provide an additional boost towards increasing investments going forward. Further, steel prices are expected to firm up and remain stable on the back of a modest growth expected in global markets. Factors such as the US - largest imported of steel - showing growth signs and a modest growth in the European region, will augur well for steel makers.

Stocks of PSU banks are trading weak with Indian Overseas Bank, Andhra Bank and Canara Bank leading the pack of underperformers. Heavyweights such as State Bank of India (SBI) and Punjab National Bank are however trading firm. According to data from Reserve Bank of India (RBI), bank deposits and advances have slowed down. For the cumulative period in FY13 ending on December 14, advances grew by 5.7% as compared to 7.8% growth in the year-ago period whereas deposits increased by a slower 5.6% from 6.5% recorded in the corresponding period last year. In light of the economic slowdown, RBI, in its second quarter review of the monetary policy, has slashed its credit and deposit growth forecasts by 100 basis points each to 16% and 14%, respectively.

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

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Realty, FMCG pull markets lower". Click here!

  
 

S&P BSE SENSEX


Apr 25, 2017 (Close)

MARKET STATS