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Indian share markets open weak
Mon, 24 Sep 09:30 am

The major Asian stock markets have opened the day on a mixed note with markets in China (up 0.3%) and Taiwan (up 0.2%) leading the gains in the region. However, markets in Malaysia (down 0.8%) and South Korea (down 0.3%) are witnessing losses. The Indian share market indices have opened the day in the red. The stocks in the capital goods and FMCG sector are leading the losses. However, stocks in power and realty space are witnessing gains.

The Sensex today is down by around 63 points (0.3%), while the NSE-Nifty is down by around 17 points (0.3%). Mid and small cap stocks are however trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.3% and 0.4% respectively. The rupee is trading at Rs 53.17 to the US dollar.

Energy stocks have opened the day on a mixed note with Gujarat Gas and Essar Oil leading the gains. However, Reliance Industries Ltd and Gas Authority of India Ltd (GAIL) are facing selling pressure. As per a leading financial daily, Reliance Industries Ltd (RIL) and its partner British Petroleum (BP) plan to surrender two more exploration blocks. This will reduce their tally to 14 from 21 a year ago when the government approved BP's US$7.2-bn deal to pick up stakes in Reliance's blocks. As per a recent letter to Directorate-General of Hydrocarbons (DGH), RIL said the contractor had spent US$309 m in the two deepwater blocks. It now wants to relinquish the blocks after completing more than the committed exploration works, including drilling four wells. The company has said that the block falls in a high risk low reward category. As per the industry sources, RIL's exploration & production (E&P) portfolio has shrunk to almost half since it announced the deal with BP in February 2011.

Auto stocks have opened the day on a firm note with Hero Motocorp and Bajaj Auto leading the pack of gainers. However, Eicher Motors and Maharashtra scooters are witnessing losses. As per a leading financial daily, Maruti Suzuki India is planning to launch a completely new version of its best selling model Alto. The move is a part of its effort to regain lost ground in small car segment. Through this, the company expects to overcome tough market conditions, especially high petrol price and interest rates that have hurt the sales of small cars. It is also offering CNG (compressed natural gas) option in the new Alto 800.The new version of Alto will be launched in October and will replace the existing Alto. The company has spent around Rs 4.7 bn in developing the new model. It is banking on Alto 800's improved fuel efficiency which is 15% higher than the previous model as a key factor for pulling customers.

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Stock Market Updates

Sensex Trades Marginally Lower, Dow Futures Up by 174 Points (Today's Market)

May 14, 2021 12:30 pm

BSE Sensex is trading down by 29 points, while the NSE Nifty is trading down by 39 points.

Sensex Opens Flat; Asian Paints Rallies 7% Post Q4 Results (Today's Market)

May 14, 2021 09:30 am

Indian share markets open flat. The BSE Sensex opened down by 33 points, while the Nifty is trading lower by 14 points.

ADANI TOTAL GAS Share Price Down by 5%; BSE 500 Index Down 0.1% (Today's Market)

May 14, 2021 09:34 AM

ADANI TOTAL GAS share price is trading down by 5% and its current market price is Rs 1,330. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are ASIAN PAINTS (up 6.7%) and BANK OF INDIA (up 5.7%). The top losers are ADANI TOTAL GAS (down 5.2%) and VINATI ORGANICS (down 7.1%).

JINDAL STEEL & POWER Share Price Down by 5%; BSE METAL Index Down 2.4% (Today's Market)

May 14, 2021 09:32 AM

JINDAL STEEL & POWER share price is trading down by 5% and its current market price is Rs 466. The BSE METAL is down by 2.4%. The top losers are JINDAL STEEL & POWER (down 5.3%) and NMDC (down 5.3%).

BANK OF INDIA Share Price Up by 5%; BSE BANKEX Index Up 0.3% (Today's Market)

May 14, 2021 09:28 AM

BANK OF INDIA share price is trading up by 5% and its current market price is Rs 77. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is BANK OF INDIA (up 5.2%). The top losers is HDFC BANK (down 0.2%).

GRINDWELL NORTON Share Price Up by 8%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

May 14, 2021 09:26 AM

GRINDWELL NORTON share price is trading up by 8% and its current market price is Rs 1,259. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is GRINDWELL NORTON (up 7.7%). The top losers are L&T (down 0.3%) and V GUARD INDUSTRIES (down 0.4%).

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