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Mid and Small Caps in the limelight
Mon, 24 Sep 11:30 am

Indian equity markets continue to trade flat over the last two hours of trade. Power and realty stocks witnessed maximum buying interest while FMCG and IT stocks witnessed maximum selling pressure.

The Sensex today is up by 10 points, while the NSE-Nifty today is up by 6 points. BSE Mid Cap index and the BSE Small Cap index are up by 1.10% and 1.15%. The rupee is trading at 53.26 to the US dollar.

Energy stocks are trading in the red. Gas Authority Of India Ltd. (GAIL) and Oil and Natural Gas Corporation (ONGC) are the biggest losers while Gujrat State Petronet (GSPL) and Hindustan Petroleum Corporation Ltd (HPCL) are the biggest gainers. According to a leading financial daily, Bharat Petroleum Corporation Ltd. (BPCL) has allocated Rs 400-450 bn towards capital expenditure (capex) for the next four to five years. This allocation will be spent on upstream, refinery expansion and other infrastructure development. The company has also said that raising funds of this magnitude would not be a problem as BPCL has many discoveries and is already in talks with domestic banks. A consortium of domestic banks led by State Bank of India (SBI), is ready to lend and these will be dollar-dominated borrowings. The company has many gas blocks in Mozambique, 10 oil blocks in Brazil, and some oil and gas blocks in Indonesia, Australia, Britain, East Timor, and a shale gas project.

Auto stocks are trading strong led by Escorts and Maruti Suzuki. According to a leading financial daily, Hero MotoCorp Limited is planning to enter the retail finance business thereby enabling potential customers to purchase their products. The Munjal family owned company, already has a financing arm Hero FinCorp (formerly Hero Honda FinLease). Hero FinCorp supports some of its component suppliers and dealers by financing their working capital expenditure. The auto company is mulling providing dedicated easy loan options for its customers. Hero's peer Bajaj Auto too has a similar financing arm by the name of Bajaj Finance. We may note here that financing two wheeler purchases is a costly affair. Two-wheeler finance comes at a steep 22-24%, almost double that of the car segment.

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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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May 14, 2021 03:37 PM

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