Indian Markets Open Weak

Fri, 4 Dec 09:30 am

   Previous Close   

   Pre-Open   

   11:30 am   

   01:30 pm   

   Closing   

Major Asian stock markets have opened the day on a dismal note, with stock markets in Japan (down 2.2%) and China (down 1.2%) being the top losers. Major stock indices in Europe ended their previous session deep in red after the European Central Bank kept the benchmark lending rates unchanged and reduced its deposits rate by 10 bps to minus 0.3%. The markets in US too reacted negatively to the European Central Bank's policy and ended their day lower by 1.7%. The rupee is trading at 66.74 per US dollar.

Indian stock markets too have opened the day on a disappointing note. BSE-Sensex is trading lower by 177 points (down 0.7%) and NSE-Nifty is trading lower by 60 points (down 0.8%). Both S&P BSE Midcap and S&P BSE Smallcap are trading lower by 0.3% and 0.5% respectively. Major sectoral indices have opened the day on a weak note too. Stocks from banking and oil and gas sectors are facing the maximum brunt.

As reported in a Financial daily, the government indicated that the rules for Participatory Notes (P-Notes) may not be tightened further. Speaking on the same Mr Jayant Sinha, Minister of State of Finance stated that the Know Your Customer (KYC) norms associated with P-Notes are quite strict and robust enough and there are enough regulations to ensure that a legitimate institution is transacting through P-Notes.

The tensions regarding 'P-Notes' had stimulated ever since the Special Investigating Team (SIT) appointed by the Supreme Court had raised concerns regarding the ultimate beneficiaries of the 'P-Notes' and the use of this instruments for the purpose of tax evasion.

As per data available with the Security Board of India (SEBI), the value of 'P-Notes' holdings stood at Rs.2.5 trillion as at the end of October 2015. It was in 2007 that P notes had been cracked down upon. What followed was a correction of 10% in the markets within a matter of minutes that led to a halt in trading. Owing to such an occurrence in the past, Mr Jaitley stated that the government will not take any action which has an adverse impact on the investment environment.

As per an article in Livemint, iron ore prices have fallen to the lows of 2008. Recently, iron-ore was traded at US$ 42.97 a tonne at Qingdao Port in China, the lowest levels since May 2008.

To add to the woes, new capacity is entering the market from the Australia's Roy Hill project which is expected to further drag down the iron-ore prices. The prices are at its bottom owing to weak demand from the steel industry which is its main consumer and the excess availability of the iron-ore.

The prices of iron-ore have corrected by 42.3% since the beginning of this calendar year. However, there are talks to cut the export duty on iron-ore. This will provide a relief to players such as National Mineral Development Corporation (NMDC) and Vedanta Ltd. NMDC stock has shed of a third of its value within a period of one year.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers