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  
Indian Markets open weak 
(Thu, 26 Mar 09:30 am) 
 
International markets fell over 1% after economic news of the largest economy in the world disappointed investors. The U.S economy revealed factory order number below expectations indicating a sluggish economy ahead. While the most of the European stock markets finished with a loss of nearly 1%, the U.S market's broader indices closed with losses of nearly 1.5%. Maximum losses were registered in the Nasdaq as it fell over 2%. Asian markets followed international cues and are trading with mixed sentiments. While the Japanese stock fell over 1.5%, Chinese, Taiwan and Korean stock markets are trading with moderate losses of 0.14%, 0.7% and 0.5%, respectively. Hong Kong markets are trading with gains of 0.24%.

Indian markets too have opened on the weak note and were down by 0.5% in the early morning trade. While BSE-Sensex has fallen over 170 points, NSE-Nifty is trading with losses of over 60 points. Most of the sectoral indices are in the red, with Healthcare and Banking stocks being the biggest losers in the pack. However, Oil & Gas stocks have managed to remain slightly in the green. S&P BSE Midcap and S&P BSE Smallcap have too opened in red. The midcap stocks lost 0.4% and smallcap stocks lose a little over 0.45% in the early trade.

Commodity prices gained for the second consecutive trading day. Gold prices, per 10 grams, gained about 0.50% and are available at Rs 26,483 while silver prices, per kilogram, gained about 0.44% and are available at Rs 38,158. Crude oil prices gained ground because of disappointing international economic data and increase in magnitude of war in Yemen. Per barrel, the crude oil prices increase over 3.3% and are available at Rs 3,093. The value of U.S Dollar increased against the Indian rupee by 0.53% or 0.33 is currently trading at Rs 62.66. War in Yemen has prompted the value of U.S Dollar to increase.

As per the financial daily, IT major, Tech Mahindra, is looking forward to acquire a captive business process outsourcing company for about Rs 5 bn. The acquisition of the bilingual BPO would help Tech Mahindra to strengthen its BPO muscle. The company is looking for chances from where it can acquire companies which can leverages its revenue cross the $5 bn mark. Till December 2014, contribution of the BPO arm in Tech Mahindra was 9% to its total revenues. This is lower than the average figure of 12% to 20%. Reportedly, the company has said that revenues from the BPO arm will be lower in current fiscal, but expected to increase next year. Shares of Tech Mahindra are trading up by about 0.6%. IT bellwether companies TCS and Infosys are trading with losses of 0.7% and gain of 0.3%, respectively.

Automobile stocks have opened on a mixed note with Mahindra scooters and Tata Motor being the leading losers in the pack. Shares of TVS Motors and M&M have minted slight gains in early session. Tata Motors owned JLR group plans to invest about 600 mn pounds in in the United Kingdom in its Coventry Headquarters. This announcement comes after the company stated that it is planning to manufacture the Land Rovers in its Pune plant. Two-thirds of the proposed investment, that is, approx 400 m pounds is expected to invested towards up-gradation and introduction of new models while the remaining will be utilized in creation, engineering and manufacturing of low-ultra emission products. Shares of Tata Motors fell over 1.4% in early morning session.

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 "Indian Markets open weak". Click here!

  
 

S&P BSE IT


Apr 21, 2017 (Close)

MARKET STATS