A Volatile Day for Indian Markets

Fri, 8 Apr Closing

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Asian markets finished mixed today. The Nikkei 225 gained 0.46% and the Hang Seng rose 0.51%. The Shanghai Composite lost 0.75%. European markets are higher today with shares in German leading the region. The CAC 40 is up 0.86%, while Germany's DAX is up 0.92% and London's FTSE 100 is up 0.63%.

Back home, Indian equity markets closed the day on a flattish note. Stocks from sectors such as power and realty were leading the gains, while IT stocks ended the day in the red. Both the BSE Mid Cap and the BSE Small Cap indices were up by 0.6%. The BSE Sensex closed lower by about 12 points (0.1%). The NSE-Nifty ended higher by about 9 points (0.1%).

As per a leading financial daily, Bharat Heavy Electricals Limited (BHEL) has commissioned an all-time high power generation capacity of over 15,000 megawatt (MW) in 2015-16. With the commissioning of this capacity, the worldwide installed base of power generating equipment supplied by BHEL has exceeded 170 GW (1,000 MW is equal to 1 GW).

Further, this 15,000 MW included the highest-ever power generation capacity addition of 13,061 MW to the Indian utility segment. This was recorded 59% higher over the previous year.

Notably, the capacity addition of domestic utility sets is 23% higher than the target set by the government for BHEL. With this, BHEL has already achieved 94% of the capacity addition target for the 12th Plan (2012-17) in first 4 years of the five-year policy period itself.

Tanushree Banerjee has pointed out the importance of capacity utilization levels in one of the recent editions of The 5 Minute WrapUp titled '70% Upside in Sensex Will Be a Reality Only If...'. Here she explains why capacity utilization is the most important data she will be tracking to check the upside in Sensex in the coming days. You can read the entire article here.

BHEL is an engineering and manufacturing company. The company is an integrated power plant equipment manufacturer, engaged in the design, engineering, manufacture, construction, testing, commissioning and servicing of a range of products and services. The company in 2015-16 has forayed into new markets with maiden orders from Belgium and Mozambique, expanding its global footprint to 78 countries. Also, the company during the year filed the highest-ever 477 patents and copyrights in a year, enhancing the company's intellectual capital to 3,441.

Rahul Shah has shared some of his views on the stock of company in yesterday's edition of The 5 Minute WrapUp titled 'The Time We Realised Even a Large Cap Like BHEL Can Be a Ticking Time Bomb'. Click here to read this interesting piece!

Meanwhile, crude oil is witnessing buying interest today as market participants have widened their positions in the commodity after tracking firm Asian cues and the EIA report. The EIA (US Energy Information Administration) released its weekly petroleum status report on April 6, 2016. It reported that the US crude oil inventory fell by 4.9 MMbbls (million barrels) to 529.9 MMbbls for the week ending April 1, 2016.

This comes as a welcome breather for crude oil that been witnessing selling pressure since last couple of months amid worries of global supply glut. The data has also cheered trading sentiments across futures trading markets.

On the topic of trading, Apurva Sheth has pointed out why this is the best time to trade equities. To know more, click here.

Also, to keep a regular tab on the movements in crude oil prices, you can read weekly updates from the Daily Profit Hunter team here. Their roundup tracks developments in the global economy as well as currency and commodity markets.

In another news update, Indian Oil Corp (IOC) is looking at buying equity stake in Nagarjuna Group's refinery in Tamil Nadu. The company is looking to buy stake in Nagarjuna Group's six million tonnes (MT) a year Cuddalore refinery.

The move follows talks by Singapore-based Netoil to buy a stake in Nagarjuna Oil Corp (NOCL) which broke off in February this year. Reportedly, IOC had in 2002 declined to take a majority stake in the project on the grounds that the country has surplus refining capacity.

Nagarjuna Oil Refinery had in September last year stated that a confirmatory due diligence of NOCL was being undertaken by Netoil to acquire the project for Rs 36 billion. The six-million-tonne refinery is the first phase of an Rs 250 billion project that will have an ultimate capacity of 12 MT.

Scrip of IOC has closed the day down by 0.1%.

By the way, April 2016 is a very special month for us at Equitymaster. We complete 20 years of service to millions of readers and subscribers.

And that's why we're in a celebratory mood.

Not only are we celebrating the success of The Equitymaster Way but also our success in earning the trust of subscribers who've been with us throughout this two-decade journey. And as the countdown to our anniversary begins, we would like to invite you to share some of your experiences with us over the years. You can do the same by posting your experiences here.

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

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