Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Indian share markets open firm
Thu, 4 Jul 09:30 am

Barring Japan (down 0.1%), the major Asian stock markets have opened the day on a firm note with Hong Kong (up 1.8%) and Indonesia (up 1.4%) leading the gains. The Indian share markets indices have opened the day on a firm note. All sectoral indices have opened in the green with the stocks in the software and power sector leading the gains.

The Sensex today is up by around 123 points (0.6%), while the NSE-Nifty is up by around 36 points (0.6%). Mid and small cap stocks have opened in the green as well with the BSE Mid Cap and BSE Small Cap indices up by around 0.5% and 0.3% respectively. The rupee is trading at Rs 59.99 to the US dollar.

Energy stocks have opened the day mainly in the green with Gujarat Gas and Petronet LNG Ltd leading the gains. As per a leading financial daily, Oil and Natural Gas Corporation (ONGC) has confirmed that its US$ 5 bn acquisition of a stake in Kazakhstan's biggest oilfield has been blocked. It is important to note here that ONGC's subsidiary ONGC Videsh Ltd (OVL) was hoping to buy ConcoPhilips' 8.4% stake in the Kashagan oilfield. This could have been its largest acquisition ever. However, Kazakhstan has exercised its pre-emption rights to block the deal. As per Kazakh law, the government has the right to buy any oil asset for sale in the country at the price agreed on by buyer and seller. Now, Kazakhstan's national oil company KazMunaiGaz will buy ConcoPhilips' stake for about US$ 5 bn. This stake will then be sold to China National Petroleum Corporation (CNPC) for a reported US$ 5.3-5.4 bn.

Indian Pharma stocks have opened the day on a firm note with Orchid Chemicals and Torrent Pharmaceuticals Limited leading the gains. As per a leading financial daily, Sun Pharmaceutical Industries Ltd has withdrawn from the race to buy Swedish firm Meda Pharmaceuticals for up to US$6 bn. Sun Pharma that has a cash balance of US$1.3 bn as on March this year (including its subsidiary Taro Pharmaceutical Industries' cash), was in talks with banks to raise funds for the acquisition in June 2013. As per the bankers, the decision to withdraw has been taken in the wake of sharp depreciation in the rupee and a patent settlement worth US$ 550 m in the US. Besides, the bankers stated that the negative reaction of the market to Apollo Tyres' US acquisition has also made the company wary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Indian share markets open firm". Click here!

  

Related Views on News

ONGC 2019-20 Annual Report Analysis (Annual Result Update)

Dec 9, 2020 | Updated on Dec 9, 2020

Here's an analysis of the annual report of ONGC for 2019-20. It includes a full income statement, balance sheet and cash flow analysis of ONGC. Also includes updates on the valuation of ONGC.

ONGC Announces Quarterly Results (3QFY20); Net Profit Down 49.8% (Quarterly Result Update)

Feb 19, 2020 | Updated on Feb 19, 2020

For the quarter ended December 2019, ONGC has posted a net profit of Rs 42 bn (down 49.8% YoY). Sales on the other hand came in at Rs 237 bn (down 14.4% YoY). Read on for a complete analysis of ONGC's quarterly results.

ONGC Announces Quarterly Results (1QFY20); Net Profit Down 3.9% (Quarterly Result Update)

Aug 26, 2019 | Updated on Aug 26, 2019

For the quarter ended June 2019, ONGC has posted a net profit of Rs 59 bn (down 3.9% YoY). Sales on the other hand came in at Rs 266 bn (down 2.4% YoY). Read on for a complete analysis of ONGC's quarterly results.

ONGC 2018-19 Annual Report Analysis (Annual Result Update)

Aug 7, 2019 | Updated on Aug 7, 2019

Here's an analysis of the annual report of ONGC for 2018-19. It includes a full income statement, balance sheet and cash flow analysis of ONGC. Also includes updates on the valuation of ONGC.

More Views on News

Most Popular

The Next Smallcap Winners (Profit Hunter)

Apr 30, 2021

Price is the only due diligence one might require to buy this business.

Time to Buy Smallcaps? (Fast Profits Daily)

Apr 30, 2021

In this video, I'll show you why I favour smallcaps over the Nifty.

Are the Stock Markets Deaf to Covid Agony? (Profit Hunter)

May 6, 2021

Why are markets discounting the economic impact of Covid?

My Secret to Find Breakthrough Stocks (Fast Profits Daily)

May 7, 2021

I've used this trading technique for many years with great success. I'm sharing it with you today.

More

India's #1 Trader
Reveals His Secrets

Secret To Increasing Your Trading Profits Today
Get this Special Report,
The Secret to Increasing Your Trading Profits Today, Now!
We will never sell or rent your email id.
Please read our Terms

ONGC SHARE PRICE


May 12, 2021 (Close)

TRACK ONGC

ONGC - HPCL COMPARISON

COMPARE ONGC WITH

MARKET STATS