Helping You Build Wealth With Honest Research
Since 1996. Read On...

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?  

Revealed
India's Third Giant Leap

This Could be One of the Biggest Opportunities for Investors




Important: We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
By submitting your email address, you also sign up for Profit Hunter, a daily newsletter from Equitymaster
covering exciting investing ideas and opportunities in India.

AD

Indian markets open weak
Thu, 29 Jan 09:30 am

The major Asian stock markets have opened the day on a negative note with China market (down 1.3%) and Hong Kong market (down 1.1%), leading the losers. The Indian markets have also opened weak. Among the sectoral indices, stocks from metal and capital goods are witnessing maximum selling pressures.

BSE-Sensex currently trading lower by about 150 points (down 0.51%), while the NSE-Nifty is lower by about 40 points (down 0.48%). The BSE Mid Cap have too opened the day in red, down by 0.10%, while BSE Small Cap have opened firm, up by 0.09%. The rupee was trading at Rs 61.41 to the dollar.

Telecom stocks have opened the day on a weak note with Bharti Airtel and AGC network being the leading losers in the pack. As per the financial daily, the Cabinet has approved a base price of Rs 37 bn per megahertz (MHz) for 3G spectrum auction. Reportedly, Telecom Minister Ravi Shankar Prasad told reporters here after the meeting that the Cabinet has approved a reserve price of Rs 37 bn per MHz for 2100 MHz band which is used for 3G mobile services. This would help the government to fetch over Rs 1000 bn along with sale of other mobile frequencies.

Mining stocks have opened the day in red led by Coal India and Sesa Sterlite. As per the financial daily, Coal India Ltd's (CIL) management has decided to go ahead with 10 % stake sale in CIL on Friday. The said step was much awaited and was taken after resolving its differences with employees. The stake sale will help the government garner in around Rs 240 bn. The government has a set a disinvestment target of Rs 584 bn, out of which Rs 434 bn will come from stake sale in public sector undertakings. In December, the government had sold 5% stake in SAIL and raked over Rs 17 bn from this divestment. CIL would be the second company to hit the markets under the government's disinvestment programme this fiscal.

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 open 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 Research Private Limited (formerly Equitymaster Agora Research Private Limited).

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Research Private Limited (formerly 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 Research Private Limited (formerly 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.