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 markets succumb to sell-off
Wed, 4 Mar Closing

Indian markets started the trading session with a bang with NSE-Nifty opening above 9100 levels and BSE-Sensex touching the 30,000 levels, thanks to RBI's surprise move of cutting the repo rate by 0.25%. In addition to this, the HSBC Service PMI of India jumped to an 8-month high. This lifted Nifty over 120 points and Sensex over 300 points. But the rally was short lived as investors booked profits in the second half of the trading session. BSE Sensex finished the trading session with a loss of 213 points. The NSE Nifty finished it with a loss of 74 points. The Indian Rupee appreciated against US Dollar by 0.40% and is trading at Rs 62.14. Crude oil prices have jumped above 1% and is trading at Rs 3,172 per barrel. Gold prices have increased marginally by 0.2% and is trading at Rs. 26,473 per 10 grams. Silver prices have however, declined by 0.10% at Rs 36,430 per kilogram.

European markets have recovered from session lows after retail sales figure of the Euro zone area came in above expectations. It eclipsed the losses which occurred due to lower than expected Service PMIs of major European economies.

In the first half of the trading session real estate and banks were the major gainers because of the repo rate cut that took place, however these stocks witnessed selling in second half of the day. According to leading financial daily, Housing Development and Infrastructure Limited has showcased a plot in Gujarat for sale. The company intends to use the proceeds to reduce its debt. The land which is put up for sale has a space of 113.47 acres. Shares of the company increased nearly 5% in first half of the trading session however, it finished the day with losses of 1.6%.

Some automobile stocks witnessed buying, after two days of constant selling pressure. Bajaj Auto, Tata Motors and Eicher Motors finished the trading session in the green. Volvo, international automobile company has sold 4.6% stake of Eicher motors for approximately Rs 19.2 billion. On this development shares of Eicher motors jumped nearly 2%, however, ended the day with gains of 0.9%.

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 markets succumb to sell-off". 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.