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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
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- Todays Market
- Indian Stock Market News November 26, 2009
Indian markets mirror Asia Thu, 26 Nov 10:30 am
The Indian markets opened below the breakeven mark, and have not managed to breach the dotted line although they have managed to move northwards since then. Asia is currently trading in the red with Indonesia (down 1.2%) leading the pack of losers. The US markets closed higher by 0.3% yesterday.
Currently, in India, heavyweights from the BSE-Sensex are trading a mixed bag with metal and telecom stocks leading the pack of gainers. However banking and auto majors are in the red. The BSE-Sensex is trading lower by 14 points, while the NSE-Nifty is down by 10 points. However, buying interest is being witnessed among mid and small-cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.1% and 0.3% respectively. The rupee is trading at 46.29 to the US dollar.
PSU banks have opened the day on a mixed note. Gainers here include PNB and Bank of India, while UCO Bank and Indian Bank are trading weak. As per a leading business daily, IDBI Bank has identified a potential merger target. This comes on the heels of Canara Bank and Union Bank of India also looking to increase their size through the inorganic route. It may be noted that the government has specifically mentioned that IDBI Bank will not be merged with another bank. This is despite the fact that it is smaller than many other public sector banks. In our opinion, while IDBI Bank will not be acquired, it could target smaller banks once it has sufficient capital and the banking sector is ready for consolidation.
Food stocks have opened the day on a mixed note. While Nestle is trading in the green, ITC and Britannia are trading weak. As per a leading business daily, ITC is open to demerger of its business verticals into separate entities as they grow larger. However, it will do so keeping in mind the synergies between the various verticals. The company has a presence in a wide variety of sectors such as cigarette, hotel, paper, agriculture and FMCG. ITC also plans to continue investing in the FMCG business with the aim of becoming the leader in the space. It may be noted that the company now has more than 150 distinct food products under 6 brands and has been displaying brisk growth. Given its sizeable cash reserves, the company does not intend to bring in any fresh capital.
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Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
Equitymaster requests your view! Post a comment on "Indian markets mirror Asia". Click here!
19 Responses to "Indian markets mirror Asia"
Mark Fernandes
Nov 26, 2009Good afternoon
My stock under "Get more info" should show also ValuePro like ResearchPro etc. Furthermore, when detai quotation was asked for whatever latest reports of that particular scrip etc. were shown underneath but it is now missing. You need to click individual menus like stock select, ResearchPro (ValuePro is missing)menus have to be clicked.
Thanks and kind regards
enudeen
Nov 26, 2009Earlier version was much better. If you are serious about viewers comments - please revert back.
Ganesh S
Nov 26, 2009Former Format was excellent and user friendly when compared to this present format.
kunhan
Nov 26, 2009Catogorywise top gainers and losers section is a must
Today's market should appear first then the commentary.
new layout does not contribute towards "improvement"
raj
Nov 26, 2009The new format is not good and also not practical.Do not force people to read the content .
Sandy
Nov 26, 2009I agree with all. Restore the original page. Those who are interested can always scroll down. In staed of farcing the users to read the story, make the story more crisp and attractive.....
shekhar
Nov 26, 2009where is the tab for top 25 shares.It was very useful.
Numbers have to be the first view then commentary.
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subu
Nov 26, 2009PLEASE REVERT TO OLD FORMAT, we cant view 25,50 shares gainers/losers, please this will help, thanks, regards
subu