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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian share markets extend losses 
(Fri, 1 Jun 01:30 pm) 
 
After opening weak and languishing in the red, the Indian share markets further extended losses in the last two trading hours. Barring FMCG, all the sectoral indices are trading negative with IT and oil and gas stocks clocking the biggest losses.

The BSE-Sensex is trading down 136 points and NSE-Nifty is trading down 47 points. Both BSE Mid cap index and BSE Small cap index are trading down by 0.9% and 0.4%, respectively. The rupee is trading at 55.8 to the US dollar.

Majority of the power stocks are trading in the negative with Power Grid and Reliance Infra being the biggest losers. As per a leading financial daily, the consortium of Reliance Power, Shell and Kakinada Sea Ports will build a floating terminal in Andhra Pradesh coast to import liquefied natural gas (LNG). Reportedly, the terminal will be located near D6 block in the Krishna Godavari (KG) basin and will have a capacity to handle 5 m tonnes per annum of LNG imports. The terminal is expected to service the power plants in the region that have been hit by the sharp fall in gas output from KG-D6. Even Reliance Power is setting up its 2,400 MW gas-based power plant at Samalkot in Andhra Pradesh which is in close proximity to Kakinada. As per oil ministry estimates, the country's gas demand is projected to surge to 356 million metric standard cubic meters per day (mmscmd) by 2014-15. With domestic demand stagnating at around 113 mmscmd, the huge shortfall will be met through LNG imports. Reliance Power stock is down 1.6%.

All of the automobile stocks are trading in red with Eicher Motors and Maharashtra Scooters being the biggest losers. Maruti Suzuki announced its sales volumes for the month of May 2012 today. Total sales volumes stood at 98,884 units, which is lower by 5% YoY as compared to May 2011. Domestic sales formed about 90% of the unit sales, lower by 4.3% YoY. Exports fell at a faster clip of 11% YoY. The company was impacted mainly due to lower volumes in the mini-segment cars, which includes models such as M800, Alto and WagonR. Volumes in this segment declined by 29% YoY and formed about 30% of total volumes. However, the company's compact car segment, which includes popular models such as Estilo, Swift and Ritz, witnessed a 14.7% rise over the corresponding period last year. Sales in this segment formed near one-fourth of the total sales volumes. The company's model DZiRE seemed to have had a good month with sales volumes rising by 64% YoY. This model alone sold about 17,700 plus units during May 2012, up from over 10,800 units last year.

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Jul 27, 2017 (Close)

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