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 share markets open firm
Thu, 3 Oct 09:30 am

Barring Singapore (down 0.1%), most major Asian stock markets have opened the day on a firm note with Taiwan (up 1.5%) and Hong Kong (up 1%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the metal and consumer durables space are leading the gains.

The Sensex today is up by around 132 points (0.7%), while the NSE-Nifty is up by around 41 points (0.7%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% and 0.5% respectively. The rupee is currently trading at Rs 62.45 to the US dollar.

Auto stocks have opened the day on a mixed note with Maharashtra Scooters, Bajaj Auto and Hero MotoCorp leading the gains. However, Ashok Leyland and TVS Motor Company are trading weak. As per a leading financial daily, Ashok Leyland has sold off Defiance Testing & Engineering Services (DTE), the Detroit-based testing and engineering company, to Exova. DTE, a US-based firm that provides testing and engineering services to manufacturers and suppliers in the passenger car, light truck, bus and military vehicle sectors was acquired by Ashok Leyland in 2007. The deal highlights Ashok Leyland’s strategic focus on raising money by diluting its non-core assets. However, the company has not disclosed the value of the transaction. It must be noted that this deal has no impact on Defiance Technologies Ltd, Ashok Leyland’s separate entity focused on IT and engineering services.

Energy stocks have also opened the day on a firm note with Mangalore Refinery and Petrochemicals Ltd (MRPL), Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) leading the gains. As per a leading financial daily, ONGC-led consortium of Indian energy firms which includes Indian Oil Corporation (IOC) and Petronet LNG, are negotiating with Russia's second biggest gas producer OAO Novatek to acquire a 9% minority stake in the 16.5 million tonnes Yamal liquefied natural gas project that is worth US$ 20-billion. Chinese energy firm China National Petroleum Corp (CNPC) bought 20% stake in the venture on September 5, 2013. It must be noted that French energy firm Total already holds a 20% stake in the project. Given that Novatek wants to retain 51% stake in the venture, this is the last opportunity for India energy firms to acquire a minority stake in the project.

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 share markets open firm". 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.