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 flat
Tue, 31 Dec 09:30 am

Barring Malaysia (down 0.3%) and Taiwan (down 0.1%), all major Asian stock markets have opened the day on a firm note with China (up 0.9%) and Japan (up 0.7%) leading the gains. The Indian share markets have opened the day on a flat note. Stocks in the realty and banking space are leading the losses. However, healthcare and metal stocks are trading firm.

The Sensex today is marginally down by around 11 points (0.05%), while the NSE-Nifty is down by around 3 points (0.05%). However, mid and small cap stocks are trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.2% each. The rupee is currently trading at Rs 61.91 to the US dollar.

Oil & gas stocks have opened the day on a firm note with Essar Oil and Bharat Petroleum Corporation Ltd (BPCL) leading the gains. As per a leading financial daily, India's state-run Oil and Natural Gas Corporation (ONGC) and Royal Dutch Shell Plc have hiked their stake by purchasing the remaining 35% of a Brazilian offshore oil block from their partner, Brazil's state-run Petroleo Brasileiro SA (Petrobras). While ONGC's stake in the Parque das Conchas project, also known as BC-10, has increased from 15% to 27%, Shell's stake has increased from 50% to 73%. It must be noted that Petrobras had originally agreed to sell its 35% stake to China's Sinochem for US$ 1.56 bn. However, Shell and ONGC exercised their right of first refusal. ONGC agreed to pay US$ 529 m for the 12% stake in October.

Information Technology stocks have opened the day on a mixed note with Moser-Baer India and HCL Infosystems leading the gains. However, Infosys and Tech Mahindra are facing selling pressure. As per IT industry body Nasscom, while North America will continue to account for a major chunk of India's IT exports, increasing demand for outsourcing services from Europe is likely to drive the IT sector in 2014. It must be noted that North America accounts for over 60% of revenues of Indian IT exporters. On the other hand, the European region contributes about 20% of revenues. But within the European region, the UK contributes a lion's share. The European market is now growing faster than the US market. It is now more open to outsourcing. As such, Indian companies are ramping up presence in Europe and have also made some acquisitions in the region.

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 flat". 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.