X

Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2017 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.


Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
Investing in India? Get Equitymaster Research  
Indian stock markets sustain momentum 
(Fri, 23 Dec 01:30 pm) 
 
Indian stock markets continued to trade in the positive territory on the back of strong buying in mid cap and small cap stocks. All major sectoral indices, barring IT, are trading in the green with capital goods leading the front.

The BSE-Sensex is trading up 54 points and NSE-Nifty is trading up 18.6 points. BSE Mid Cap and BSE Small Cap indices are trading up by 0.93% and 1.6% respectively. The rupee is trading at 52.7 to the US dollar.

Energy stocks are trading mixed with Essar Oil and Indraprastha Gas topping the list of gainers. As per a leading financial daily, the Government of India may change its priority list to sell domestic gas (KG-D6) gas. The government may restrict supplies to fertilizer units and divert them to retail users. It has also accepted the suggestion of Comptroller and Auditor General (CAG) to strictly monitor its usage. To ensure efficient utilization of the limited domestic gas supplies as subsidized prices (US$ 4.2 per unit), the Government will ask sectoral ministries to certify that usage is well within the specified limits and there is no diversion of gas. The oil ministry officials have said that for fresh supplies, city gas distribution (CGD) networks should be given priority over fertilizer and power sectors that currently top the priority list in Government's Gas Utilization Policy. The decision on the new priority list is expected in next meeting of Empowered Group of Ministers on gas pricing and utilization.

Engineering stocks are mostly trading in the positive with Finolex Cables, ABB and Everest Kanto leading the gains. Blue Star has bagged order worth Rs 840 m from Bangalore Metro. The order encompasses building environmental control system and management system for the Metro's seven underground stations. The work for the phase-1 of the Bangalore Metro includes design, supply, installation, testing and commissioning of chillers, pumps, air handling units, fan coil units, cooling towers, ventilation fans, motor control centre panels. Blue Star's net sales declined 13.0% YoY during 2QFY12. Decline in revenues from the Electro-Mech. Proj. & Packaged A/C Sys. (EMPS) and Professional Electronics & Industrial Systems (PEIS) business segments had impacted the overall performance. The stock was up by 1.2%.

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

View all commentaries | Archives  RSS
Read the latest Market Commentary
 
BSE-30
 

 
Go
 

Equitymaster requests your view! Post a comment on "Indian stock markets sustain momentum". Click here!

  
 

S&P BSE SENSEX


May 25, 2017 (Close)

MARKET STATS