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 inch upwards
Tue, 8 Sep 01:30 pm

After trading on a flat note during the morning session of the day, the Indian equity markets have moved upwards in the post noon trading session. Gains were led by stocks from steel, banking and energy segments.

The BSE-Sensex is trading up 274 points (1.1%) and the NSE-Nifty is trading up by 85 points (1.1%). The BSE Mid Cap index and the BSE Small Cap index are trading in the green, up by 0.6% and 0.1% respectively. Gold prices, per 10 grams, are trading at Rs 26,429 levels. Silver price, per kilogram, is trading at Rs 35,261 levels. Crude oil is trading at Rs 2,996 per barrel. At the time of writing, the rupee stood at 63.53 to the US dollar.

Stocks in the telecom space are trading on a mixed note with ADC India Communications leading the gains and Reliance Communications leading the losses. As per an article in Economic Times, Telecom Regulatory Authority of India (TRAI) is considering to make it mandatory to disclose network capacities periodically for all telecom operators. This is undertaken to examine the call drop problems in entirely. Further, the companies are also required to disclose steps that are taken to optimize their networks to address the problems. The TRAI recently came out with a consultation paper on call drops after it was witnessed that the problem has become more acute in the last 3-4 months.

Steel stocks are trading mixed with SAIL and Tata Steel witnessing maximum buying interest. As per a leading financial daily, Tata Steel has resumed buying iron ore from NMDC in order to meet supply shortfall from its own mines. The continuing problem of evacuation since July with the state government from its Noamundi mines in Jharkhand over the lease renewal issue has made the company opt to purchase domestically from NMDC. Last year, Tata Steel has bought around 0.8 m tonnes iron ore from NMDC while it imported around 1.5 m tonnes to meet the shortfall for the Jamshedpur plant. Scrip of Tata Steel is trading up by 5.7% on the BSE.

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 inch upwards". 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.