Indian equity markets continued to trade strong over the last two hours of trade on the back of heavy buying activity witnessed across industry heavyweights. Capital goods and IT stocks witnessed maximum buying interest.
The Sensex today is up by 151 points, while the NSE-Nifty today is up by 44 points. BSE Mid Cap index and the BSE Small Cap index are up by 0.73% and 0.90% respectively. The rupee is trading at 53.70 to the US dollar.
Energy stocks are trading in the green led by Essar Oil and Hindustan Petroleum Corporation Ltd (HPCL). According to a leading financial daily, Reliance Industries has cut its estimate of gas reserves in the D6 block by about two-thirds to 3.4 trillion cubic feet (tcf). The D6 block in Krishna Godavari (KG) basin, jointly operated by Reliance and BP Plc, was expected to contribute up to a quarter of the gas supply for India. But output from KG fields has declined, leaving India more dependent on expensive liquefied natural gas (LNG) imports. Reliance's latest revision compares with its December 2006 estimate of 10.3 tcf of reserves and brings the figure back closer to the November 2004 estimate of 3.81 tcf. The company also has revised its capital spending plan from US$ 8.8 bn in 2006 and US$ 2.4 bn in 2004. Reliance has seen its growth outlook marred by falling output from the KG gas fields, and the company has been under pressure from the government and regulators to increase production.
Banking stocks are trading strong led by ICICI Bank and HDFC Bank. According to a leading financial daily, Yes Bank is planning to sell about 500 kilogram of gold products in 2012-13 fiscal. The bank has over 175 branches for bullion business. The private sector bank has introduced combi-bar of 50 gram gold which can be broken into one-one gram unit and can be used for gifting. Yes Bank had launched the bullion business in April, 2012. Its gold products are available in 5, 10, 20 and 50 gram denominations. The bank in association with EZspend Prepaid Payment Solutions has launched a multi-purpose prepaid card to cater to the needs of unbanked/underbanked customers as well as to enhance cashless payment mechanism in the country.
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Indian share markets end deep in the red with the Sensex down by 1,939 points and the Nifty ending down by 568 points.
ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).
ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).
JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).
UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).
ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).
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