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 share markets open weak
Thu, 11 Oct 09:30 am

Barring Hong Kong (up 0.2%), all major Asian stock markets have opened the day on a weak note with stock markets in China (down 0.3%), South Korea (down 0.3%) and Taiwan (down 1.6%) leading the pack of losers in the region. The Indian share market indices have also opened the day in the red. Barring oil and gas and realty, all sectoral indices have opened in the red led by power and capital goods.

The Sensex today is down by around 32 points (0.2%), while the NSE-Nifty is down by around 5 points (0.1%). Mid and small cap stocks are also trading in the red with the BSE Mid Cap and BSE Small Cap indices down by around 0.2% and 0.1% respectively. The rupee is trading at Rs 53.12 to the US dollar.

Energy stocks have opened the day on a mixed note with Cairn India Ltd and Gujarat Gas leading the pack of gainers. However, Oil India Ltd and Essar Oil hare witnessing losses. As per a leading financial daily, the commissioning of Petronet LNG's terminal at Kochi is likely to face further delay and happen next year. Earlier, it was decided to commission this year itself. As per the management, there is no delay from the company's side. While the official construction of the terminal would be done by the end of this month, the company will not be bringing LNG now. This is because of the slow pace in marketing arrangement of liquefied Natural Gas (LNG) in southern states and delay in the construction of the pipeline network. The formal commissioning will be done only after the marketing arrangements are set in by Gas Authority of India Ltd (GAIL).

Steel stocks have opened the day on a mixed note with Jindal Sponge Ltd and Tata Sponge leading the gains. However, JSW Steel and Tayo Rolls are facing selling pressure. As per a leading financial daily, the proposed Rs 160 bn joint venture (JV) between Steel Authority of India Ltd and Korean firm Posco steel to set up a 3-million tonne per annum (mtpa) steel plant at Bokaro in Jharkhand may get scrapped over the issue of controlling rights over the JV. The steel minister Mr. Beni Prasad Verma has clearly said that any JV plans with Posco will be rejected if it is not a 50:50 partnership. However, Posco's management is insisting on a majority stake in the JV. Mr. Verma has also said the chairman of the proposed JV should be an Indian.

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 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.