The Indian equity markets have made a flat start and
dipped into the red in initial trade as investors booked their previous
sessions' profit amid feeble cues from Asian markets. Investors shrugged
off the positive domestic news that industrial growth in key
infrastructure areas bounced back to 6.8 per cent in November after
touching a five-year low of 0.3 per cent in October. On the sectoral
front capital goods witnessed the maximum gain in trade followed by oil
and gas and power while, banking, fast moving capital goods and auto
remained the top losers on the BSE sectoral space. Meanwhile, telecom
stocks like, Idea Cellular, Bharti Airtel and Tata Teleservices
(Maharashtra) edged lower in the trade after the Telecom Commission
recommended a uniform licence fee of 8% as against existing 6-10%
depending upon type of service and circle. The broader indices were
outperforming benchmarks. The market breadth on the BSE was positive;
there were 852 shares on the gaining side against 661 shares on the
losing side while 73 shares remained unchanged.
The BSE Sensex opened at 15,983.98; about 13 points higher compared to its previous closing of 15,970.75, and has touched a high and a low of 15,991.72 and 15,928.92 respectively.
The index is currently trading at 15,959.47, down by 11.28 points or 0.07%. There were 14 stocks advancing against 16 declines on the index.
The overall market breadth has made a positive start with 53.72% stocks advancing against 41.68% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.18% and 0.32% respectively.
The top gaining sectoral indices on the BSE were, CG up by 0.90%, Oil and Gas up by 0.39%, Power up by 0.26%, CD up by 0.25% and Realty was up by 0.24%. While, Bankex down by 0.72%, FMCG down by 0.46%, Auto down by 0.26% and PSU down by 0.17% were the only losers on the index.
The top gainers on the Sensex were Tata Power up by 1.81%, L&T up by 1.72%, Hindalco up by 1.07%, Sun Pharma up by 0.95% and RIL was up by 0.80%.
On the flip side, Jaiprakash Associates was down by 1.27%, Cipla was down by 1.07%, HDFC Bank was down by 1.07%, ITC was down by 0.95% and M&M was down by 0.83% were the top losers on the Sensex.
Meanwhile, India's foreign direct investment (FDI) declined by over 50% to $1.16 billion in October for the second month in a row, reflecting economic slowdown in the world's major economies. India received $2.33 billion overseas investment in the same month last year. In September, the inflows were at $1.76 billion, down by 16.5% year-on-year.
However, in April-October 2011, the FDI rose 50.3% to $20.8 billion, from $13.84 billion in the year-ago period as inflows were healthy in the initial months. Though in August FDI inflows had increased over two-fold to $2.83 billion, year-on-year, in July they declined after a significant jump for two consecutive months - May and June.
Uncertain economic conditions in the US and Europe are one of the major reasons for the declining FDI in India. However, despite uncertainties in the global economy, FDI is likely to touch $35 billion in 2011-12, as against $19.4 billion in the last fiscal on account of major deals like RIL-BP and Posco.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are major sources of FDI for India. In April-October 2011, the sectors that engrossed the maximum FDI include services, construction activities, power, computers and hardware, telecom and housing and real estate.
In order to attract more inflows by easing FDI procedures, the Reserve Bank of India said that transfer of shares between Indians and non-residents will not require its permission in several key areas like financial services.
During 2010-11, equity inflows through the FDI route had declined 25% to $19.43 billion, from $25.6 billion in 2009-10 compared to $27.3 billion in 2008-09.
The S&P CNX Nifty opened at 4,780.20; flat compared to its previous closing of 4,779.00, and has touched a high and a low of 4,784.80 and 4,765.35 respectively.
The index is currently trading at 4,774.05, lower by 4.95 points or 0.10%. There were 26 stocks advancing against 24 declines on the index.
Most of the Asian equity indices were trading in the red; Jakarta Composite was down 26.70 points or 0.70% to 3,770.45, Nikkei 225 was down 30.96 points or 0.37% to 8,448.38, Straits Times was down 4.36 points or 0.16% to 2,672.11, Seoul Composite was down 18.98 points or 1.02% to 1,837.72 and Taiwan Weighted was down 29.58 points or 0.42% to 7,063.00.
On the flip side, Shanghai Composite was up by 1.12 points or 0.05% to 2,191.23.
The BSE Sensex opened at 15,983.98; about 13 points higher compared to its previous closing of 15,970.75, and has touched a high and a low of 15,991.72 and 15,928.92 respectively.
The index is currently trading at 15,959.47, down by 11.28 points or 0.07%. There were 14 stocks advancing against 16 declines on the index.
The overall market breadth has made a positive start with 53.72% stocks advancing against 41.68% declines. The broader indices were outperforming benchmarks; the BSE Mid cap and Small cap indices rose 0.18% and 0.32% respectively.
The top gaining sectoral indices on the BSE were, CG up by 0.90%, Oil and Gas up by 0.39%, Power up by 0.26%, CD up by 0.25% and Realty was up by 0.24%. While, Bankex down by 0.72%, FMCG down by 0.46%, Auto down by 0.26% and PSU down by 0.17% were the only losers on the index.
The top gainers on the Sensex were Tata Power up by 1.81%, L&T up by 1.72%, Hindalco up by 1.07%, Sun Pharma up by 0.95% and RIL was up by 0.80%.
On the flip side, Jaiprakash Associates was down by 1.27%, Cipla was down by 1.07%, HDFC Bank was down by 1.07%, ITC was down by 0.95% and M&M was down by 0.83% were the top losers on the Sensex.
Meanwhile, India's foreign direct investment (FDI) declined by over 50% to $1.16 billion in October for the second month in a row, reflecting economic slowdown in the world's major economies. India received $2.33 billion overseas investment in the same month last year. In September, the inflows were at $1.76 billion, down by 16.5% year-on-year.
However, in April-October 2011, the FDI rose 50.3% to $20.8 billion, from $13.84 billion in the year-ago period as inflows were healthy in the initial months. Though in August FDI inflows had increased over two-fold to $2.83 billion, year-on-year, in July they declined after a significant jump for two consecutive months - May and June.
Uncertain economic conditions in the US and Europe are one of the major reasons for the declining FDI in India. However, despite uncertainties in the global economy, FDI is likely to touch $35 billion in 2011-12, as against $19.4 billion in the last fiscal on account of major deals like RIL-BP and Posco.
Mauritius, Singapore, the US, the UK, the Netherlands, Japan, Germany and the UAE are major sources of FDI for India. In April-October 2011, the sectors that engrossed the maximum FDI include services, construction activities, power, computers and hardware, telecom and housing and real estate.
In order to attract more inflows by easing FDI procedures, the Reserve Bank of India said that transfer of shares between Indians and non-residents will not require its permission in several key areas like financial services.
During 2010-11, equity inflows through the FDI route had declined 25% to $19.43 billion, from $25.6 billion in 2009-10 compared to $27.3 billion in 2008-09.
The S&P CNX Nifty opened at 4,780.20; flat compared to its previous closing of 4,779.00, and has touched a high and a low of 4,784.80 and 4,765.35 respectively.
The index is currently trading at 4,774.05, lower by 4.95 points or 0.10%. There were 26 stocks advancing against 24 declines on the index.
The
top gainers of the Nifty were RCom up by 4.03%, Reliance Infra up by
2.84%, Ambuja Cement up by 2.16%, Tata Power up by 2.04% and L&T up
by 1.76%.
On the flip side, Jaiprakash Associates down by
1.36%, Kotak Bank down by 1.31%, HDFC Bank down by 1.24%, Axis Bank down
by 1.21% and Cipla down by 1.10%, were the major losers on the index. Most of the Asian equity indices were trading in the red; Jakarta Composite was down 26.70 points or 0.70% to 3,770.45, Nikkei 225 was down 30.96 points or 0.37% to 8,448.38, Straits Times was down 4.36 points or 0.16% to 2,672.11, Seoul Composite was down 18.98 points or 1.02% to 1,837.72 and Taiwan Weighted was down 29.58 points or 0.42% to 7,063.00.
On the flip side, Shanghai Composite was up by 1.12 points or 0.05% to 2,191.23.
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