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Markets open on a positive note
Wed, 26 May 09:30 am

The Indian markets have started today's session on a positive note. The benchmark indices opened at the breakeven mark and soon surged higher. They have managed to hold on to their gains since then. Other key Asian markets are in the green with Indonesia (up 3.5%) leading the pack of gainers. The US markets closed marginally lower yesterday.

Currently in India, heavyweights from the BSE-Sensex are trading strong with auto and construction majors finding investors' favour. The BSE-Sensex is trading higher by around 203 points, while the NSE-Nifty is up by about 61 points. Buying interest is also being witnessed among mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading higher by 1.4% and 1.5% respectively. The rupee is trading at 47.37 to the US dollar.

Energy stocks have opened the day on a positive note. Gainers here include Cairn India and MRPL. ONGC is in talks with energy majors BP, Exxon Mobil, BG Group, Eni and BHP Biliton for a tie-up for one of its KG basin gas blocks. Given that the block involves deep water technology, the company is seeking global exploration firms with the expertise. Earlier, Norway's Statoil and Petrobras of Brazil decided to quit the block due to government delays in approving their participation. It may be noted that the block now has ten gas discoveries and ONGC plans to club these with six gas finds in a neighbouring block to begin production in next 3 to 4 years. There are technicalities involved in tie-ups with foreign energy majors such as whether a block was nominated or auctioned by the government. ONGC cannot transfer its stake in a nominated block to any other firm. In our view, it is high time the government showed a greater sense of urgency and prudence in such matters given India's growing energy needs and high dependence on oil imports.

FMCG stocks have opened the day on a positive note. Gainers here include Henkel India and Marico. As per a leading business daily, Hindustan Unilever (HUL) announced its 4QFY10 results. The company posted a 8% YoY growth in topline during 4QFY10 on the back of strong volume growth in the personal products business. Growth in home and personal care and foods was 6% per cent and 17%, respectively. Operating margins fell 1.1% during the quarter to stand at 13.6% on the back of higher advertisement costs (as a percentage of sales). Bottomline grew by 47% YoY during the quarter helped by higher extraordinary income. After adjusting for the extraordinary income, bottomline declined by 23% YoY during 4QFY10. HUL's board proposed a final dividend of Rs 3.50 a share for the year.

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Stock Market Updates

MRPL at 52 Week High; BSE 500 Index Up 2.0% (Today's Market)

Mar 1, 2021 03:34 PM

MRPL share price has hit a 52-week high. It is presently trading at Rs 45. BSE 500 Index is up by 1.7% at 19,713. Within the BSE 500, MRPL (up 8.3%) and RCF (up 20.0%) are among the top gainers, while top losers are HIMADRI SPECIALITY CHEMICAL and BHARTI AIRTEL.

KEC INTERNATIONAL Share Price Up by 5%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Mar 1, 2021 03:26 PM

KEC INTERNATIONAL share price is trading up by 5% and its current market price is Rs 454. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.2%) and BHARAT ELECTRONICS (up 6.5%). The top losers are SCHAEFFLER INDIA (down 0.2%) and HINDUSTAN AERO. (down 0.3%).

GUJARAT ALKALIES Share Price Up by 10%; BSE 500 Index Up 1.6% (Today's Market)

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DEEPAK NITRITE Share Price Up by 13%; BSE 500 Index Up 1.4% (Today's Market)

Mar 1, 2021 03:10 PM

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HIMADRI SPECIALITY CHEMICAL Share Price Down by 11%; BSE 500 Index Up 1.4% (Today's Market)

Mar 1, 2021 03:08 PM

HIMADRI SPECIALITY CHEMICAL share price is trading down by 11% and its current market price is Rs 55. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are RCF (up 20.0%) and MMTC (up 20.0%). The top losers is HIMADRI SPECIALITY CHEMICAL (down 11.3%).

Sensex Rallies 600 Points in Opening Trade; Power Grid & Tech Mahindra Top Gainers (Today's Market)

Mar 1, 2021 09:30 am

The BSE Sensex opened up by 620 points while the Nifty is trading higher by 165 points.

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