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Markets begin on a positive note
Tue, 16 Mar 09:30 am

The Indian markets have started today's session on a positive note. The benchmark indices opened above the breakeven mark and have managed to hold on to their gains since then. Other key Asian markets are trading in the green with Taiwan (up 0.4%) leading the pack of gainers. The US markets closed higher by 0.2% yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading strong with energy and software stocks attracting investors' interest. However, select banking stocks are in the red. The BSE-Sensex is trading higher by around 20 points, while the NSE-Nifty is up by about 4 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 0.3% and 0.5% respectively. The rupee is trading at 45.6 to the US dollar.

Energy stocks have opened the day on a positive note. Gainers here include BPCL and Reliance. As per a leading business daily, the Supreme Court has allowed the Petroleum & Natural Gas Regulatory Board (PNGRB) to process pending applications for city gas distribution projects. It may be noted that the Delhi High Court had recently restricted PNGRB's powers to authorise city gas projects. It had also rendered the previous authorisations by PNGRB invalid. Last year, the board had issued city gas licences for six cities and had invited bids for seven cities. Indraprastha Gas had challenged these moves in the Delhi High Court. In our view, the procedural issues regarding PNGRB's authority should be resolved quickly. City gas is a cleaner alternative to petrol and diesel and it is highly desirable that it reaches as many Indian cities as possible.

Engineering stocks have opened the day on a positive note. Gainers here include Thermax and L&T. As per a leading business daily, BHEL has bagged a Rs 33 bn contract to set up 376 MW captive power plant at Indian Oil's upcoming refinery at Paradip, Orissa. The project involves design, engineering, manufacture, supply, erection and commissioning of the captive power plant along with the civil work. The equipment for the project will be supplied by BHEL's plants in Hyderabad, Trichy, Ranipet, Bhopal, Jhansi and the electronics division, Bangalore. This development further adds to the revenue visibility of BHEL, which had an order backlog of Rs 1,340 bn at the end of December 2009. That amounts to about 4.8 times its FY09 annual sales.

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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

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May 14, 2021 09:30 am

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May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

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May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

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