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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian stock markets bid sad farewell to 2011 
(Fri, 30 Dec Closing) 
 
In an exact replica of yesterday's trade, indices in the Indian stock markets failed to keep their heads above the dotted line in the second half and thus, closed the last day of the week as well as the year on a negative note. While BSE-Sensex edged lower by around 90 points, decline on the NSE-Nifty came in at around 22 points. The BSE Mid Cap and BSE Small Cap indices however managed to buck the trend but could post only marginal gains. Nearly 4 stocks declined for every one that closed the day in the positive on the Sensex.

Asian markets closed mostly in the positive today whereas Europe is trading mixed currently. The rupee was trading Rs 53.3 to the dollar at the time of writing.

It was only fitting perhaps that a year where the benchmark indices witnessed one of its worst performances in many years, the last trading session did manage to keep the trend intact. Thus, the attention is now focused towards whether the New Year will be any different. From the looks of it, pinning too much hope on a reversal of the trend may not be the wisest of things to do. The global environment is still uncertain and in India too, there aren't a lot of positives to talk about. The only bright spot perhaps seem to be the valuations. Thus, another bout of correction will only convert from what is looking like an attractive long term story to an even more attractive long term story. And if reforms do materialise, then that would be the added icing on the cake.

In an effort to further boost its topline, Titan Industries, India's largest watch maker is planning to target the underpenetrated women's segment which holds great potential. Right now, the company is believed to have just 15%-18% ownership amongst Indian women. It should be noted that the company had roped in actor Katrina Kaif as a brand ambassador of one of its exclusive brands, Raga, with the intention of appealing to the progressive Indian woman. The company aims to garner revenue of Rs 4 bn from this brand up from Rs 3.2 bn the previous year. Besides, its other offerings like Titan and Sonata will also attempt to tap into the same segment. The stock closed lower by 1% today.

As if Tata Nano's cup of woes wasn't already brimming over, it will now have a new competition to contend with. As per reports, Bajaj Auto, India's second largest two wheeler manufacturer will unveil its new small and low priced car at the 2012 Delhi Auto Show. It should be noted that the planning for this car started way back in 2008 and the car is now ready to be launched. The car is expected to come with a high fuel efficiency of 30 km per litre but will also sport a higher price tag than the frugal Nano from Tata Motors. The stock of Bajaj Auto closed marginally lower on the bourses today.

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Apr 28, 2017 (Close)

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