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Indian stock markets off day's lows
Wed, 28 Mar 11:30 am

Indian stock markets recouped initial losses but continued to trade in the red during the last two hours of trade. Consumer durables and realty stocks were the top losers, while capital goods and healthcare stocks led the list of gainers.

The BSE-Sensex is trading up by 30 points and NSE-Nifty is trading down by 15 points. BSE Mid Cap and BSE Small Cap indices are trading lower by 0.1% and 0.2% respectively. The rupee is trading at 50.88 to the US dollar.

Steel stocks are trading in the red led by Tayo Rolls and JSW Steel. According to a leading financial daily, Tata Steel is now more comfortable in raising finance post the refinancing of debt that it had taken to acquire Corus. It had recently refinanced the entire debt in Corus through a Rs 250 bn term loan and revolving credit facility. The steel company will be borrowing up to Rs 500 bn for its capacity expansion and purchase of mines. This is in line with the company's objective of consolidating its position as the world's seventh largest steel company. Its expansion plans include increasing its capacity at Jamshedpur plant to 10 m tonnes, building a new steel plant at Kalinganagar in Odisha and investing in raw material project overseas.

Energy stocks are trading in the green led by GAIL India and Indian Oil Corporation. According to a leading financial daily, Reliance Industries Limited has agreed to supply additional amount of natural gas to the state of Andhra Pradesh. The company will supply 2.5 mmscmd (million metric standard cubic metre per day) of natural gas through a swapping of re-gasified liquified natural gas (RLNG) deal to partly utilise the idle capacity of the private gas power stations for meeting the needs of industry. Under the arrangement, the state government will bear the cost of RLNG to be used by the existing consumers of Reliance on the western coast, and utilise the natural gas supplies meant for those consumers for power generation in the state. The government will incur a cost of Rs 9 per unit of power as against around Rs 2.3 per unit currently paid to the gas power projects, as the price of fuel will be equivalent to that of RLNG as per the swapping arrangement.

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Stock Market Updates

The BSE IT Index has hit an all-time high at 14,733 (up 2.1%) (Today's Market)

Jul 16, 2018 10:19 AM

The BSE IT Index has hit an all-time high at 14,733 (up 2.1%). Among the top gainers in the BSE IT Index today are INFOSYS LTD and L&T TECHONOLOGY SERVICES . Meanwhile, the BSE Sensex has surged 0.05% to 36,659.

GODREJ CONSUMER at All Time High; BSE FMCG Index Up 0.4% (Today's Market)

Jul 16, 2018 10:19 AM

GODREJ CONSUMER share price has hit an all time high at Rs 1,350 (up 2.40%). The BSE FMCG Index is up by 0.43%. Among the top gainers in the BSE FMCG Index today are GODREJ CONSUMER (up 2.40%) and NESTLE (up 0.44%). The top losers include COLGATE (down 0.00%) and HATSUN AGRO PROD. (down 0.03%).

INFOSYS LTD at All Time High; BSE IT Index Up 2.3% (Today's Market)

Jul 16, 2018 10:17 AM

INFOSYS LTD share price has hit an all time high at Rs 1,383 (up 5.49%). The BSE IT Index is up by 2.32%. Among the top gainers in the BSE IT Index today are INFOSYS LTD (up 5.49%) and TCS (up 0.39%). The top losers include PERSISTENT SYSTEMS (down 0.09%) and 8K MILES SOFT (down 0.22%).

RELIANCE COMMUNICATIONS plunges by 5%; BSE 500 Index Down 0.4% (Today's Market)

Jul 16, 2018 10:14 AM

RELIANCE COMMUNICATIONS share price has plunged by 5% and its Current Market Price is Rs 13. The BSE 500 is down by 0.35%. The top gainers in the BSE 500 Index are INFOSYS LTD (up 5.03%) and GODREJ CONSUMER (up 1.83%). The top losers are RELIANCE COMMUNICATIONS (down 5.38%) and DR. REDDYS LAB (down 8.75%).

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Jul 16, 2018 12:17 PM

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