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Markets trade near the dotted line
Tue, 20 Oct 11:30 am

After opening the day on a flat note, the Indian Indices continued to trade close to the dotted line. Sectoral indices were trading on a mixed note with stocks from the consumer durables, auto and capital goods sectors witnessing maximum buying interest. However metal stocks were leading the losses.

The BSE-Sensex is trading up by 13 points (0.05%) and the NSE-Nifty is trading up by 4 points (0.04%). The S&P BSE Midcap index and the S&P BSE Smallcap index are trading in the green, up by 0.7% and 0.6% respectively. At the time of writing, the rupee stood at 64.93 to the US$.

Stocks in the energy sector are trading on a mixed note with Cairn India and Gujarat State Petronet Ltd leading the losses. As per a leading financial daily, state owned Oil & Natural Gas Corporation (ONGC) is in talks with Adani-Welspun Exploration Ltd (Adani-Welspun) to buy a stake in the latter's oil block in the western offshore region off the coast of Mumbai.

The talks are to either partner with or completely buyout block MB-OSN-2005/2 held by Adani-Welspun since 2005. The company expects this deal to be finalized by the end of the current fiscal year.

The pact between the two firms can help ONGC establish continuity among three of its other blocks located in the same region. The same will also help develop these blocks using common infrastructure. The plan is in sync with ONGC's long term plan to make western offshore its production hub. Presently the stock of the company is trading down by 1.1%.

As per a leading financial daily, the Reserve Bank of India (RBI) is going to auction the first ever 40-year government bond on Friday. This is said to be the longest tenor bond issued by India. Up till now, the 30-year bond has been recorded as the longest-duration security issued by the Indian government.

By this, the RBI will auction Rs 10,000 million worth of government securities on Friday, as reported by the central bank in its weekly notification of government bond auctions for the week. These bonds will be maturing on 26 October 2055. The development is in line with the announcement made by the government this year that it intends to issue 40-year bonds for the first time in FY15-16 and raise between Rs 50,000-80,000 million through the long-dated bonds.

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S&P BSE OIL & GAS


Apr 28, 2017 03:34 PM

MARKET STATS