All major Asian stock markets have opened the day on a firm note with stock markets in Hong Kong (up 1.4%) and South Korea (up 1.2%) leading the gains. The Indian stock markets have also opened the day on a firm note. Stocks in the power and metal space are leading the gains.
The BSE-Sensex is trading higher by 176 points (1%), while the NSE-Nifty is up by around 47 points (0.9%). Mid cap and small cap stocks are also trading in the green with the BSE Mid cap and BSE Small cap indices up by 1% each. The rupee is trading at 49.04 to the US dollar.
PSU bank stocks have opened the day on a strong note with Dena Bank and UCO Bank leading the pack of gainers. Oriental Bank of Commerce (OBC) has announced its third quarter results for the financial year 2011-2012 (3QFY12). During the quarter, the public sector lender has reported 38% year-on-year (YoY) rise in interest income on the back of 22% YoY growth in advances. However, OBC's net profits register a decline of about 13% YoY during 3QFY12 on account of increased provisions on non-performing assets (NPAs) and higher interest costs. During the nine month period ended December 2011, while the bank's interest income grew by 31% YoY, its net profits reported a decline of 25% YoY. During the same period, its net interest margins witnessed a decline from 3.3% in 9MFY11 to 2.8% in 9MFY12.
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Indian share markets end deep in the red with the Sensex down by 1,939 points and the Nifty ending down by 568 points.
ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).
ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).
JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).
UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).
ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).
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