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

Sensex Remains Flat; Coal India Leads the Gainers
Fri, 28 Oct 11:30 am

After opening the day on a flat note, the <>Indian share markets have continued to trade near the dotted line. Sectoral indices are trading on a positive note with stocks in the metal sector and auto sector witnessing maximum buying interest.

The BSE Sensex is trading up 20 points (up 0.1%) and the NSE Nifty is trading up 15 points (up 0.2%). The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 0.8%. The rupee is trading at 66.85 to the US$.

The latest initial public offer (IPO) in town, PNB Housing Finance has received positive response as high net worth individuals (HNIs) and institutional investors bade aggressively for the allotment. The Rs 30 billion IPO of the company was subscribed nearly 30 times on the final day of the issue.

At the closing bell yesterday, the institutional quota was subscribed 86.2 times, the HNI quota was subscribed close to 68 times, while the retail quota was subscribed 1.2 times.

The IPO was the second largest public issue of shares this year in the domestic market.

As far as IPOs are concerned, listing gains and over subscription of the issues have caught the eye of market participants. With this euphoria, there are many more IPOs lined up in the coming days. This begs the question: What should be one's approach towards IPOs?

In our view, one should not get swayed away by the buoyancy surrounding IPOs. Instead, what one should look for in IPOs is the fundamentals of the business and the attractiveness of valuations.

Giving a doubtful IPO a miss can in no way reduce your chances to create long-term wealth. There are several big IPOs in the pipeline in the last few months of 2016. In case you wish to run them through a handy checklist, we have something for you. Download our Handbook of IPOs to be able to pick only the right ones for you.

In the global financial markets, data released this week showed that US orders for long lasting manufactured goods fell slightly in September.

Total durable goods orders, which include transportation items, dropped 0.1% last month. However, excluding the defense spending, durable goods orders rose by 0.7%.

Core capital goods orders, viewed as a key measure of business investment, slumped 1.2% during September. This was viewed as the largest drop since February.

Further, a separate report released during the week showed the number of Americans filing for unemployment benefits fell by 3,000 to 258,000 last week. The report pointed to a sustained labor market strength and firming economic growth.

The above reports led to volatility in US stocks markets as well as the dollar. Market participants are now turning their attention to Friday's data on US third quarter GDP data.

The above data has fuelled expectations of a US interest rate hike at the Fed's December meeting. The Fed minutes of the September 20-21 meeting have largely reinforced market expectations of a rate hike in December, after the US presidential election.

The Federal Reserve has two more policy meetings this year, one in early November and a second in mid-December. In their economic projections released last month, 14 of 17 Fed officials indicated they expected to raise rates before the end of this year.

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 "Sensex Remains Flat; Coal India Leads the Gainers". 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.