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?  

Indian stock markets climb further
Tue, 24 Apr 01:30 pm

Indian stock markets gained further momentum in the last two trading hours. Majority of the sectoral indices are trading positive with technology and power stocks leading the rally. Capital goods, Auto, pharma and FMCG stocks are the major losers.

The BSE-Sensex is trading up by 105 points and NSE-Nifty is trading up by 24 points. Both BSE Mid cap index and BSE Small cap indices are marginally up as well. The rupee is trading at 52.7 to the US dollar.

Majority of the energy stocks are trading positive with Bharat Petroleum Corporation Ltd. (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) trading the strongest while Petronet LNG is trading weak. As per a leading financial daily, India has requested Qatar to supply 3 million tonne of liquefied natural gas (LNG) on an urgent basis. The gas will be imported by Petronet LNG (PLNG) and Gas Authority Of India Ltd. (GAIL). Currently, India imports 7.5 million metric tonne per annum (MMTPA) of LNG from Ras Gas, Qatar. This is in line with a 25 year contract signed by Petronet LNG limited (PLL) in July 1999. The country now needs additional long-term tie up for 15 MMTPA of LNG. Reportedly, Qatar has expressed interest in an offer from Oil and Natural Gas Commission (ONGC) for a joint participation in exploration and production projects in third-world countries.

Most of the food stocks are trading positive with Lakshmi Energy and Tata Global Beverages being the biggest gainers. As per a leading financial daily, food major Nestle India is likely to bear an additional tax burden of Rs 1 bn in Calendar Year 2012. This is on account of higher rate of taxation. The increase would be largely due to higher payout of indirect taxes particularly the excise duty. In the Union Budget 2012-13, the government had hiked the excise duty by 2% from 10% to 12%. Nestle stock is up 0.2%.

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 "Indian stock markets climb further". 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.