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

Broad based buying continues
Wed, 22 Oct 01:30 pm

The buoyancy in the Indian stock markets continued in the post-noon trading session. Broad based buying is witnessed across market segments before Diwali festive season. The small cap stocks are leading the gainers. Among the sectoral indices, barring stocks from realty and metals, all are trading in the green today. Gainers are being led by stocks from auto and capital goods sectors.

The BSE-Sensex is trading up 180 points and the NSE-Nifty is trading up by 58 points. The BSE Mid Cap index is trading up 0.9% and the BSE Small Cap index is trading up 1% today. The rupee is trading at 61.23to the US dollar.

Barring TVS Motors and Ashok Leyland, almost all automobiles stocks are trading on a firm note today. Gainers are being led by Hero MotoCorp and Maharashtra Scooters. As per a leading business daily, Tata Motors owned Jaguar Land Rover (JLR) expects its volume growth in China to halve to 20% this year. The company management said that sales in the second half were a bit slower than the first half. It expects sales next year to decelerate further on account of high base and slowdown in the auto market in the country. It may be noted that China is the biggest and fastest growing market for JLR. It had recently set up its first overseas factory in China to overcome huge import duties and price its car competitively in the market. Tata Motors is trading higher by 3% at the time of writing.

Majority of the energy stocks are trading in the green led by Gujarat State Petronet and Reliance Industries. As per a leading financial daily, the government is keeping a buffer of 56 paise per litre on diesel price that has been deregulated. The fuel price of diesel was reduced by RS 3 per litre at a time when oil marketing companies were earning a surplus of Rs 3.56 per litre. The government wants to keep the margin of 56 paise per litre to counter contingencies arising on account of crude price firming up once again. Reportedly the government is also having an understanding with state owned oil marketing firms such as <>Indian Oil Corporation(IOC), Bharat Petroleum Corporation Ltd (BPCL)and Hindustan Petroleum Corporation Ltd (HPCL) to offer immunity to Indian consumers in the event of surge in international diesel prices in the near future. As per reports, these state owned oil firms consult the government before raising price of petrol which was deregulated in 2010.

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 "Broad based buying continues". 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.