Tuesday April 10, 10:30 AM
Subdued opening... |
|
By Equitymaster.com
After the strong gains recorded yesterday, markets have opened today's proceedings barely above breakeven. Currently, 22% of the stocks on the Nifty are trading in the red indicating the cautious mood among investors. While select banking stocks are facing the brunt of profit booking, energy, FMCG and metal stocks are currently displaying strength.
The BSE Sensex is trading at 13,184 (up 6 points) while the NSE Nifty is trading at 3,845 (up 2 points). The rupee is trading at 43.02 to the dollar.
NDTV is planning to launch three channels under its new entertainment venture NDTV Imagine to withstand competition from its peers. It will launch the first general entertainment channel in Hindi by the end of this year. The second would be a movie channel, which would be launched by around March 2008. The details of the third channel have not yet been provided. NDTV had recently received approval from the FIPB for foreign investment of Rs 5.9 bn for its foray into the entertainment and lifestyle space. The company is also in discussions with leading production houses such as Hats Off and Synergy to come with new and different shows on its channel, which will target audience in the age group of 6 to 60 with a variety of programmes. The Hindi general entertainment channel market is estimated at Rs 30 bn and is growing at the rate of 10% to 15%. This move is in line with company's strategy to attain the top position in the next one year. The stock, along with its peer TV18, is trading 2% higher, while Zee is trading flat.
In the US markets yesterday, markets struggled for direction as investors welcomed falling oil prices, a strong employment report and some company deals but showed reluctance after last week's rally and the upcoming start of the earnings reporting period. All the three indices, the Dow Jones, the S&P and the tech laden NASDAQ ended flat. Oil prices settled at US$ 61.5 per barrel. As regards global markets, the European indices ended a mixed bag yesterday, while the Asian indices too are trading mixed currently.
|
