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?  

Oil & Gas stocks weigh on markets
Thu, 29 Dec 11:30 am

Indian stock markets indices have been trading in the red over last two hours of trade due to selling in index heavyweights. All sectoral indices are trading weak led by Oil and gas and consumer durables stocks.

The BSE-Sensex is trading down by 87 points and NSE-Nifty is trading weak by 26 points. BSE Mid cap and BSE Small cap indices are trading down by 0.2 % and 0.4% respectively. The rupee is trading at 53.39 to the US dollar.

Food stocks are trading in the red led by Sterling Biotech and Wadala Commodities. As per a leading daily, tobacco major ITC has raised the prices of its Gold Flake Kings cigarettes from Rs 48 for a pack of 10 to Rs 55 for the same. This hike of almost 15% would effectively mean that every cigarette is costlier by Rs 1. ITC is anticipating a hike in excise duty of cigarettes and has thus affected this increase in price. In the recent past, the tobacco company raised prices of its other brands Capstan, Scissors, Berkeley and Wills Flake Filter. All these hikes are being taken with the aim of protecting the profit margins.

Mining stocks are trading mixed today. While Sesa Goa Ltd and National Mineral Development Corporation (NMDC) are among the gainers, losses are seen in Ashapura Minechem and Metals and Minerals Trading Corporation of India Ltd. (MMTC). As per a leading financial daily, the coal ministry has rejected Coal India proposal to cut its output target for the year. Coal India wanted its output target to be reduced to 440 m tonnes due to flooding of its mines during monsoons. Coal India has already produced 248 m tonnes till November. The same falls short of its 8 month target of 274 m tonnes by more than 20 m tonnes. As per the ministry, power sector is facing shortage of coal supply. Reducing Coal India's production target will worsen the problems of the power sector and result in lesser power generation.

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 "Oil & Gas stocks weigh on markets". 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.