Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2018 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
  • MyStocks


Login Failure
(Please do not use this option on a public machine)
  Sign Up | Forgot Password?  

Banking Stocks Outperform
Thu, 9 Apr 03:30 pm

The markets continued to remain choppy with positive bias in afternoon trade. Gains in the broader indices have been led by Banking, Metals and IT sectors. Banking majors ICICI Bank, HDFC Bank, SBI and Axis Bank rallied 1.5-2.5% with the Bank Nifty up 2.2%. However, Healthcare and Realty witnessed maximum selling pressure.

The BSE-Sensex is trading up by 177 points, while the NSE-Nifty is up by around 52 points. S&P BSE Midcap and S&P BSE Smallcap are trading up 0.3% and 0.7% respectively. The Indian rupee is trading at Rs 62.44 levels against the US Dollar.

Majority of the power stocks are trading on a negative note with Cesc Ltd and Torrent Power leading the pack of losers. According to a leading financial source, NTPC, the nation's top power producer, is initiating steps towards its objective of diversifying into transmission and distribution. The state-run company wants to start with offering electricity to consumers around some of its plants and is in talks with three states to trial-run the project. However, the company anticipates a resistance from regional states. NTPC has a capacity of 44,398 MW, or about 17% of the nation's total power generation capacity of 255,012.79 MW. Reportedly, the company is also looking to spend Rs 50-60 bn on acquisitions this fiscal year.

According to a leading financial daily, state-owned Oil and Natural Gas Corporation (ONGC) has reversed a seven-year decline in its crude oil production, showing a marginal increase in output in 2014-15. ONGC produced 22.263 million tons (MT) of crude oil during April 2014 to March 31, 2015, up from 22.247 MT in the previous fiscal. Offshore production was higher as compared to onshore production. Reportedly, ONGC is targeting a total of 26 MT of oil production in the next fiscal year. oil and gas sector was trading in the red. Profit booking was witnessed across GAIL and HPCL.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Equitymaster requests your view! Post a comment on "Banking Stocks Outperform". Click here!


Small Investments
BIG Returns

Zero To Millions Guide 2018
Get our special report, Zero To Millions
(2018 Edition) Now!
We will never sell or rent your email id.
Please read our Terms


Nov 22, 2017 10:57 AM