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IT stocks weigh on Indian equity markets
Fri, 1 Jun 11:30 am

Indian equity markets continued to trade in the red over last two hours of trade on the back of selling witnessed in index heavyweights. Most of the sectoral indices are trading weak led by IT and power stocks.

The BSE-Sensex is trading lower by 38 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 0.3% respectively. The rupee is trading at 55.95 to the US dollar.

Energy stocks are trading weak led by Cairn India and Castrol. However, Indraprastha Gas Limited (IGL) is trading firm. The gas utility firm had approached the Delhi high court over the legality of the powers conferred upon Petroleum and Natural Gas Regulatory Board regarding fixing of network tariffs. Earlier in April, PNGRB had ordered IGL to cut tariff by 60% and that too with retrospective effect from April 2008. This implies a refund of Rs 9-12 bn from IGL. As per IGL, this amount if returned, would wipe out the entire networth of the gas company which is roughly Rs 15 bn. The verdict in this dispute is awaited today.

Telecom stocks are trading in the green led by AGC Networks and Tata Teleservices. As per a leading daily, the National Telecom Policy-2012 is finally out and has been cleared by the government. This would make free roaming throughout India a reality. Also, country-wide mobile number portability (MNP) is now possible. The new policy will bring about a number of other positive changes too including liberalised spectrum, pan-India operator licences, technology-agnostic spectrum. This spells a shift in Indian telecom industry from voice to data with emphasis on broadband penetration and making spectrum technology-agnostic. In simple words, the operators have been allowed to provide any service on technology and on any device.

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Stock Market Updates

GUJ. STATE PETRONET Share Price Up by 5%; BSE 500 Index Up 1.4% (Today's Market)

Mar 2, 2021 03:31 PM

GUJ. STATE PETRONET share price is trading up by 5% and its current market price is Rs 262. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are GUJ. STATE PETRONET (up 5.2%) and GSK CONSUMER (up 5.1%). The top losers are BAYER CROPSCIENCE and LAURUS LABS.

GUJARAT PIPAVAV PORT Share Price Up by 12%; BSE REALTY Index Up 0.8% (Today's Market)

Mar 2, 2021 03:23 PM

GUJARAT PIPAVAV PORT share price is trading up by 12% and its current market price is Rs 114. The BSE REALTY is up by 0.8%. The top gainers in the BSE REALTY Index is GUJARAT PIPAVAV PORT (up 12.5%). The top losers are PRESTIGE ESTATES and PHOENIX MILL (down 0.2%).

STRIDES PHARMA SCIENCE Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Mar 2, 2021 03:23 PM

STRIDES PHARMA SCIENCE share price is trading up by 5% and its current market price is Rs 878. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index is STRIDES PHARMA SCIENCE (up 5.1%). The top losers are AJANTA PHARMA (down 0.4%) and CAPLIN POINT (down 0.4%).

JAGRAN PRAKASHAN Share Price Down by 7%; BSE 500 Index Up 1.3% (Today's Market)

Mar 2, 2021 03:23 PM

JAGRAN PRAKASHAN share price is trading down by 7% and its current market price is Rs 63. The BSE 500 is up by 1.3%. The top gainers in the BSE 500 Index are SYMPHONY (up 20.0%) and SHIPPING CORP (up 20.0%). The top losers is JAGRAN PRAKASHAN (down 7.4%)..

JK LAKSHMI CEMENT Share Price Up by 11%; BSE 500 Index Up 1.0% (Today's Market)

Mar 2, 2021 03:15 PM

JK LAKSHMI CEMENT share price is trading up by 11% and its current market price is Rs 438. The BSE 500 is up by 1.0%. The top gainers in the BSE 500 Index are JK LAKSHMI CEMENT (up 11.0%) and TTK PRESTIGE (up 11.1%). The top losers are CROMPTON GREAVES CONSUMER ELEC. and RAYMOND .

Sensex Trades Over 200 Points Higher; Dow Futures Down by 90 Points (Today's Market)

Mar 2, 2021 12:30 pm

BSE Sensex is trading up by 209 points, while the NSE Nifty is trading up by 76 points.

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