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?  

Indian share markets open firm
Thu, 3 Oct 09:30 am

Barring Singapore (down 0.1%), most major Asian stock markets have opened the day on a firm note with Taiwan (up 1.5%) and Hong Kong (up 1%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the metal and consumer durables space are leading the gains.

The Sensex today is up by around 132 points (0.7%), while the NSE-Nifty is up by around 41 points (0.7%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% and 0.5% respectively. The rupee is currently trading at Rs 62.45 to the US dollar.

Auto stocks have opened the day on a mixed note with Maharashtra Scooters, Bajaj Auto and Hero MotoCorp leading the gains. However, Ashok Leyland and TVS Motor Company are trading weak. As per a leading financial daily, Ashok Leyland has sold off Defiance Testing & Engineering Services (DTE), the Detroit-based testing and engineering company, to Exova. DTE, a US-based firm that provides testing and engineering services to manufacturers and suppliers in the passenger car, light truck, bus and military vehicle sectors was acquired by Ashok Leyland in 2007. The deal highlights Ashok Leyland's strategic focus on raising money by diluting its non-core assets. However, the company has not disclosed the value of the transaction. It must be noted that this deal has no impact on Defiance Technologies Ltd, Ashok Leyland's separate entity focused on IT and engineering services.

Energy stocks have also opened the day on a firm note with Mangalore Refinery and Petrochemicals Ltd (MRPL), Reliance Industries Ltd (RIL) and Oil and Natural Gas Corporation (ONGC) leading the gains. As per a leading financial daily, ONGC-led consortium of Indian energy firms which includes Indian Oil Corporation (IOC) and Petronet LNG, are negotiating with Russia's second biggest gas producer OAO Novatek to acquire a 9% minority stake in the 16.5 million tonnes Yamal liquefied natural gas project that is worth US$ 20-billion. Chinese energy firm China National Petroleum Corp (CNPC) bought 20% stake in the venture on September 5, 2013. It must be noted that French energy firm Total already holds a 20% stake in the project. Given that Novatek wants to retain 51% stake in the venture, this is the last opportunity for India energy firms to acquire a minority stake in the project.

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

ASHOK LEYLAND Announces Quarterly Results (3QFY20); Net Profit Down 92.7% (Quarterly Result Update)

Feb 17, 2020 | Updated on Feb 17, 2020

For the quarter ended December 2019, ASHOK LEYLAND has posted a net profit of Rs 278 m (down 92.7% YoY). Sales on the other hand came in at Rs 40 bn (down 36.5% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

ASHOK LEYLAND Announces Quarterly Results (2QFY20); Net Profit Down 91.5% (Quarterly Result Update)

Nov 12, 2019 | Updated on Nov 12, 2019

For the quarter ended September 2019, ASHOK LEYLAND has posted a net profit of Rs 389 m (down 91.5% YoY). Sales on the other hand came in at Rs 39 bn (down 48.4% YoY). Read on for a complete analysis of ASHOK LEYLAND's quarterly results.

ASHOK LEYLAND 2018-19 Annual Report Analysis (Annual Result Update)

Sep 16, 2019 | Updated on Sep 16, 2019

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

More Views on News

Most Popular

It's the Beginning of a New Bull Phase in Smallcaps (Profit Hunter)

Feb 24, 2021

Last time the smallcap index crossed 19k a big correction followed. Here's what makes it different this time.

Intraday Trading for a Living (Fast Profits Daily)

Feb 15, 2021

In this video, I'll cover your queries on intraday trading and also share my view on how to decide stop losses and target prices.

Top 5 Stocks Mutual Funds Bought and Sold in January 2021 (Sector Info)

Feb 16, 2021

A look at what India's top equity mutual funds bought and sold in January 2021.

I Would Recommend this Small-cap Stock Over Tesla (Profit Hunter)

Feb 16, 2021

Do you enjoy reading Tesla and Bitcoin stories? Here's a not so famous small-cap stock to profit from the rise of EVs.

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

S&P BSE OIL & GAS


Feb 26, 2021 (Close)

S&P BSE OIL & GAS 5-YR ANALYSIS

COMPARE COMPANY

MARKET STATS