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Indian share markets open flat
Thu, 16 Aug 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in South Korea (up 0.7%), Japan (up 1.4%), Singapore (up 0.5%) and Taiwan (up 0.5%) leading the gains in the region. However, stock markets in China (down 0.1%) and Malaysia (down 0.3%) have opened weak. The Indian share market indices have opened the day on a flat note. Stocks in the auto and capital goods space are leading the gains. However, software and metal stocks are facing selling pressure.

The Sensex today is up by around 7 points (0.04%), while the NSE-Nifty is up by around 2 points (0.04%). However, mid and small cap stocks have opened in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% each. The rupee is trading at Rs 55.95 to the US dollar.

Stocks in the finance sector have opened mixed with Prime Securities and Geojit BNP Paribas leading the pack of gainers while Indiabulls Financial Services and Bajaj Finance were facing maximum selling pressure. Infrastructure Development Finance Company (IDFC) has announced its results for the first quarter of the financial year 2012-13 (1QFY13). The institution has reported 36% year on year (YoY) growth in the income from operations during the quarter on the back of robust growth in advances. The net interest margins (NIMs) for the quarter improved to 4.4% from 4.2% in 1QFY12. The growth in the bottomline came at 21% YoY. This was mainly on account of robust growth in the net interest income and a slow growth in the provisions. The capital adequacy ratio stood at 21.8% at the end of the quarter.

Stocks in the Energy sector have opened on a mixed note with Chennai Petroleum Corporation Ltd (CPLC) and Cairn India Ltd. leading the pack of gainers. However, Bharat Petroleum Corporation Ltd (BPCL) and Gas Authority of India Ltd (GAIL) witnessed maximum selling pressure. As per a leading financial daily, GAIL is planning to buy a stake in Russia's planned 10 million tonne (MT) Liquefied Natural Gas (LNG) plant at Vladivostok on the Pacific coast. In order to cater to the growing energy needs of the country, the firm intends to import natural gas from the US$7 bn project to meet nation's growing energy needs. Russia based gas monopoly firm Gazprom plans to start output of LNG in 2016 or 2017. Gazprom is shifting focus to LNG exports from its Far East Russian fields to South-East Asian markets in the wake of growing gas demand in these markets. As per the industrial sources, Gazprom Marketing & Trading Singapore has already signed preliminary agreements to sell as much as 7.5 million tonne a year of LNG to Petronet LNG and Gujarat State Petroleum Corporation apart from GAIL.

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Feb 21, 2018 (Close)