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Indian share markets open firm
Fri, 27 Dec 09:30 am

Barring Japan (down 0.4%), all major Asian stock markets have opened the day on a firm note with China (up 0.8%) and Malaysia (up 0.8%) leading the gains. The Indian share market indices have also opened the day on a positive note. Stocks in the realty and consumer durables space are leading the gains.

The Sensex today is up by around 92 points (0.4%), while the NSE-Nifty is up by around 28 points (0.4%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.4% and 1.15% respectively. The rupee is currently trading at Rs 62.16 to the US dollar.

Oil & gas stocks have opened the day on a firm note with Indraprastha Gas Ltd (IGL), Petronet LNG and Hindustan Petroleum Corporation Ltd (HPCL) leading the gains. As per a leading financial daily, IGL has announced an increase in consumer price of compressed natural gas (CNG) by Rs 4.50 per kg in Delhi and Rs 5.15 per kg in Noida, Greater Noida and Ghaziabad. Effective from today, the new consumer price would be Rs 50.10 per kg in Delhi and Rs 56.70 per kg in Noida, Greater Noida and Ghaziabad. IGL has also increased consumer prices of piped natural gas (PNG) to Rs 29.50 per standard cubic metre (scm) from Rs 27.50 per scm in Delhi. The price hike is attributable to rise in input cost owing to reallocation of domestically produced gas quantities by the central government for all city gas distribution firms in India.

IGL, a joint venture between Gas Authority of India Ltd (GAIL), Bharat Petroleum Corporation Ltd (BPCL) and Delhi government, is a leading natural gas distribution firm operating largely in Delhi and its surrounding areas.

FMCG stocks have opened the day on a firm note with Godrej Consumer Products Ltd (GCPL), Paper Products, Marico Ltd, Hindustan Unilever Ltd (HUL) and Pidilite Industries leading the gains. As per a leading financial daily, FMCG firm Bajaj Corp has formed a wholly-owned subsidiary Bajaj Corp International (FZE), a limited liability company, for trading in skin and hair care products. The subsidiary has been incorporated in Sharjah Airport International Free Zone Authority, United Arab Emirates (UAE). It is worth noting that Bajaj Corp has several products in the hair care segment such as Bajaj Almond Drops, Kailash Parbat and Brahmi Amla.

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