Helping You Build Wealth With Honest Research
Since 1996. Try Now

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?  

Stock market indices shed gains
Fri, 16 Mar 01:30 pm

Indian stock markets, after opening on a strong note, pared gains in the last two trading hours but continued to trade well above the dotted line. Majority of the sectoral indices are trading positive. Auto, FMCG and banking stocks are the biggest gainers. Oil and gas, capital goods and power stocks are among the handful of losers.

The BSE-Sensex is trading up 51 points and NSE-Nifty is trading up 24 points. Both BSE Mid cap index and BSE Small cap indices are up by 0.51% and 0.05% respectively%. The rupee is trading at 50.2 to the US dollar.

Majority of the aviation stocks are trading negative with Spice Jet and Jet Airways being the biggest losers. The stock of Kingfisher Airlines is up by 0.72%. The beleaguered aviation sector got some respite with respect to its floundering financial position by the Union Budget 2012-13. As per the budget proposals, aviation companies can borrow upto US$ 1 bn through External commercial Borrowings (ECB) for one year to fund their working capital requirements. However, the much awaited FDI in the sector is under active consideration.

Energy stocks are trading mixed with Indian Oil Corporation (IOC) the biggest gainer and Cairn India the biggest loser. As per a leading financial daily, Oil and Natural Gas Corporation Ltd. (ONGC) has declared the second interim dividend of 30% (Rs 1.5 per equity share of Rs 5 each) for the financial year FY11-12. The Government has asked profit making public sector firms to pay additional dividend to bring down the fiscal deficit. The second interim dividend payment will let the Government mobilize Rs 8.9 bn. Recently, the Government had mopped over Rs 126 bn from a 5% stake sale in ONGC. In a separate development, ONGC has decided to relax the provisions in bid evaluation criteria for its tender for procurement of an LPG cold box for its Hazira plant. This has been done to consider bids from UK based Chart Energy and Chemicals Inc. and France-based Fives Cryogenic. The contract value is estimated at Rs 119 m. ONGC stock is down 5.5%.

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 "Stock market indices shed gains". 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 Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

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 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.