Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGIN

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian share markets recoup losses
Wed, 17 Dec 01:30 pm

Indian share markets recovered early losses in the post-noon trading session and are trading positive. Majority of the sectoral indices are trading in the red with FMCG and pharma being the biggest losers. Metal and banking are among the few stocks trading positive.

BSE-Sensex is up 58 points and NSE-Nifty is trading 3 points up. BSE Mid Cap is trading 0.1% up and BSE Small Cap index is trading down by 0.5%. The rupee is trading at 63.54 to the US dollar.

Energy stocks are trading mixed with Gujarat State Petronet and Oil and Natural Gas Corporation Ltd (ONGC) being the biggest gainers whereas Cairn India and Chennai Petroleum are trading in the red. As per a leading financial daily, ONGC has made a new discovery in Cauvery basin. The block is jointly held by ONGC and Bharat Petroresources Ltd (BPRL), the upstream subsidiary of Bharat Peroleum Corporation Ltd (BPCL) in the ratio of 60:40. The exploration well showed that natural gas in the block flowed at the rate of 61,800 cubic meters per day and the presence of condensate at the rate of 9.6 cubic meters per day. This is the second hydrocarbon discovery made by ONGC in NELP-IV block. ONGC stock is trading up 1.8%.

Majority of the media stocks are trading negative with Broadcast Initiatives and Compact Disc being the biggest losers whereas Sun TV and Balaji Telefilms are among the few stocks trading in the green. As per a leading daily, leading media company Jagran Prakashan has acquired Music Broadcast Pvt Ltd in all-cash deal. Music Broadcast Pvt Ltd runs the popular Radio City FM stations. As per the company the deal will catapult it to a leadership position in radio industry and benefit it from rapid growth in radio advertising. The acquisition will be funded through internal accruals and investments. Radio City operates 20 FM stations in seven states and is present in Delhi, Mumbai, Bengaluru and Lucknow with a subscriber base of 10.8 m. Jagran Prakashan stock is trading down 2.3%.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

View all commentaries | Archives

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian share markets recoup losses". Click here!

  
ABOUT EQUITYMASTER

Since 1996, Equitymaster has been the source for honest and credible opinions on investing in India. With solid research and in-depth analysis Equitymaster is dedicated towards making its readers- smarter, more confident and richer every day. Here's why hundreds of thousands of readers spread across more than 70 countries Trust Equitymaster.

PREMIUM PRODUCTS
QUICK LINKS
POPULAR TOPICS
TRENDING TOPICS
FREE NEWSLETTERS
EQUITYMASTER SUPPORTS
  • HelpYourNGO
  • You Tube
  • Linkedin
  • Twitter
  • Telegram
  • Google Play

Copyright © Equitymaster Agora Research Private Limited.

Whitelist | Refer | Terms | Privacy | Contact | About | Sitemap

Phone +91-9136015013

Equitymaster Agora Research Private Limited (Research Analyst)
SEBI (Research Analysts) Regulations 2014, Registration No. INH000000537.

103, Regent Chambers, Above Status Restaurant, Nariman Point, Mumbai - 400 021. India.
Telephone: +91-22-61434055. Email: info@equitymaster.com. Website: www.equitymaster.com.
CIN:U74999MH2007PTC175407

Name of the Compliance & Grievance Officer: Ms Sonal Ramachandran
Telephone: +91-22-61434003 | Email: compliance@equitymaster.com

LEGAL DISCLAIMER:
Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.

All rights reserved. Any act of copying, reproducing or distributing this newsletter whether wholly or in part, for any purpose without the permission of Equitymaster is strictly prohibited and shall be deemed to be copyright infringement.

Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research Company. Equitymaster is not an Investment Adviser. Information herein should be regarded as a resource only and should be used at one's own risk. This is not an offer to sell or solicitation to buy any securities and Equitymaster will not be liable for any losses incurred or investment(s) made or decisions taken/or not taken based on the information provided herein. Information contained herein does not constitute investment advice or a personal recommendation or take into account the particular investment objectives, financial situations, or needs of individual subscribers. Before acting on any recommendation, subscribers should consider whether it is suitable for their particular circumstances and, if necessary, seek an independent professional advice. This is not directed for access or use by anyone in a country, especially, USA, Canada or the European Union countries, where such use or access is unlawful or which may subject Equitymaster or its affiliates to any registration or licensing requirement. All content and information is provided on an 'As Is' basis by Equitymaster. Information herein is believed to be reliable but Equitymaster does not warrant its completeness or accuracy and expressly disclaims all warranties and conditions of any kind, whether express or implied. Equitymaster may hold shares in the company/ies discussed herein. As a condition to accessing Equitymaster content and website, you agree to our Terms and Conditions of Use, available here. The performance data quoted represents past performance and does not guarantee future results.