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Indian share markets remain volatile
Wed, 3 Dec 01:30 pm

Indian share markets slipped back in negative territory in the post-noon trading session. Most of the sectoral indices are trading in the green led by power and realty. Only FMCG and IT stocks are trading in the red.

BSE-Sensex is down 18 points and NSE-Nifty is trading down marginally. BSE Mid Cap is trading 1.5% up and BSE Small Cap index is trading up by 1.6%. The rupee is trading at 61.91 to the US dollar.

Most of the automobile stocks are trading in the green led by TVS Motor and Eicher Motor. As per a leading financial daily, Tata Motor's Jaguar Land Rover (JLR) has started building its fully-owned factory in the Brazilian town of Itatiaia, near Rio de Janerio. The state-of-the-art complex, the first outside the United Kingdom, is being built at a cost of $ 290 m and will have a production capacity of 24,000 vehicles. The plant will employ 400 workers and will also have an education and business centre. Tata Motors stock is trading up by 0.4%.

Majority of the energy stocks are trading in the green with Essar Oil and ONGC being the major gainers whereas Gujarat State Petronet and Hindustan Petroleum Corporation Ltd (HPCL) are trading in the red. As per a leading financial daily, Petronet LNG received the biggest shipment of 2.6 lakh cubic metres of liquefied natural gas (LNG) by ship at its Dahej terminal in Gujarat. Reportedly, this receipt of LNG from Qatar's Ras Laffan is the biggest shipment to date for India as the country embarks to derive economies of scale benefits to meet the growing energy demand. Petronet presently has a long term contract of 7.5 m tonnes of LNG a year from RasGas. In April, the company signed a short term contract to import 8 lakh tonnes of LNG over a 12 months period for supply to refineries. After South Korea, India is the largest importer of LNG from RasGas. Petronet LNG stock is trading up 1.6% presently.

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