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 stock markets trade weak
Mon, 3 Oct 11:30 am

Indian stock market indices continued to trade weak over the last two hours of trade. Metal and realty stocks witnessed maximum selling pressure while auto stocks witnessed maximum buying interest.

The BSE-Sensex is down by 315 points, while the NSE-Nifty is down by 96 points. BSE Mid Cap and BSE Small Cap indices are down by 1.6% and 1.1% respectively. The rupee is trading at 49.44 to the US dollar.

Power stocks are trading in the red with National Thermal Power Corporation (NTPC) and Tata Power being the biggest losers, while Reliance Infrastructure and Power Trading Corporation (PTC) India are the biggest gainers. According to a leading financial daily, world's largest coal miner Coal India has set an ambitious target of investing Rs 400 bn in the 12th five year plan period ending 2017 towards mines development to increase production. The company will also spend money on development of new projects, buying machinery and building washeries. The company had set a target of Rs 350 bn for the 11th five year plan but ended up with investment of only Rs 250 bn. Coal India has also set a production target of 556 m tonnes by 2017. The main focus of the company during the 12th five year plan would be developing mines within India as overseas coal assets acquisition programmes are moving quite slowly.

Engineering stocks are trading weak with most stocks in the sectoral index trading in the red. Crompton Greaves and BGR Energy are leading the downfall. According to a leading financial daily, state-run power equipment maker Bharat Heavy Electrical Limited (BHEL) is facing as many as 163 civil and criminal proceedings, including those related to bank guarantee, injunction suits and recovery of money. Out of 163 cases, 144 are civil and 19 are criminal cases. According to the company's draft document for the proposed disinvestment of 5% stake by the government, the estimated value of 144 civil cases is Rs 1.45 bn. Meanwhile, BHEL has initiated three criminal cases and 125 civil proceedings, whose aggregate monetary value is about Rs 1.9 bn.

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 stock markets trade weak". 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.