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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets open in the green 
(Fri, 2 May 09:30 am) 
 
The major Asian stock markets have opened the day on a mixed note with stock markets in Japan (down 0.4%) and Singapore(down 0.4%) leading the losses. However, the stock markets in Taiwan (up 0.8%) and Hong Kong (up 0.5%) were leading the gains. The Indian share markets have opened the day on a firm note. All sectoral indices have opened in the green with stocks in the consumer durables and banking sector leading the gains.

The Sensex today is up by around 105 points (0.5%), while the NSE-Nifty is up by about 24 points (0.4%). The midcap and smallcap stocks have opened in the green as well with BSE Mid Cap and BSE Small Cap cap indices up by around 0.8% and 1.0% respectively. The rupee is currently trading at Rs 60.10 to the US dollar.

Energy stocks have opened mixed with Hindustan Petroleum Corporation Ltd (HPCL) and Bharat Petroleum Corporation Ltd (BPCL) leading the gains. However, Cairn India Ltd and Jindal Drill Ltd were facing selling pressure. Petronet LNG Ltd (PLNG) has announced results for the quarter and year ended March 2014. The company has reported around 23.2% year on year (YoY) growth in the revenues during the quarter. The capacity utilization at Dahej terminal stood at 96%. The operating profits for the quarter declined by 10.6 % YoY, with margins at 3.7% as compared to 5.1% in the corresponding period last year. The net profit for the quarter declined by 31% YoY with net profit margins at 1.6% versus 2.9% in the corresponding period last year. The decline was mainly on account of high depreciation expenses and interest expenses, due to lower capacity utilization at Kochi terminal. For FY14, the revenues and net profit were up 20% YoY and down 38% YoY respectively.

FMCG stocks have opened mainly in the green with Marico Ltd and Archies Ltd leading the gains. Marico Ltd has announced results for the quarter and year ended March 2014. The net sales for the quarter grew 17% YoY. As per the management, the growth rates of various segments have come down due to a weak demand environment, thus impacting the company's overall growth. The company's domestic business expanded 16% YoY, driven by 6% YoY volume growth and price hikes across its product portfolio. Its international business grew 21% YoY in value. Despite just 0.7% YoY growth in the promotion expenditure, the operating profit margin expanded by around 1.7%. The net profit for the quarter declined by 20% YoY, as the corresponding quarter last year's profit was boosted by an exceptional gain.

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S&P BSE OIL & GAS


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