Sensex Marginally Lower; ITC & ICICI Bank Perform Worst

Wed, 19 Oct 01:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   11:30 am   

   Closing   

The Indian share market are trading marginally lower during the noon trading session on account of profit booking across FMCG & realty stocks. Meanwhile, gains are largely seen in power, energy & PSU stocks.

The BSE Sensex is trading lower by 103 points (down 0.4%) while the NSE Nifty is trading lower by 33 points (down 0.4%). The BSE Mid Cap index is trading down by 0.3% and BSE Small Cap index is trading up by 0.4%. Gold prices, per 10 grams, are trading at Rs 29,765 levels. Silver price, per kilogram is trading at Rs 42,124 levels. Crude oil is trading at Rs 3,427 per barrel. The rupee is trading at 66.70 to the US$.

Shares of National Aluminum Company Ltd (Nalco) are trading on an encouraging note (up 1.8%) after the company  reported a growth of 5.8% in its aluminum sales during April-September 2016, overcoming sluggish market conditions. The state-run aluminum company has sold 181,000 tonnes of aluminum in this period against a production figure of 188,000 tonnes. The company has also registered a growth on 8.5% in Alumina hydrate sales during the same period at 581,000 tonnes out of a total production figure of 968,000 tonnes.

In terms of production, the company's performance was stellar, especially bauxite mining, which increased 23.6% at 3.5 mt.  Aluminum output by the navratna company jumped 4.2% higher than the corresponding period of last fiscal. In the period under review, the company's net power generation went up 3.6% to reach 2945 million units.

Moreover, the company generated 130 million units of wind power, marking a growth of 14.7% over the comparable period of 2015-16.

For 2016-17, Nalco has set a Capex (capital expenditure) target of Rs 10.21 billion. The amount is intended to be used for projects like development of Utkal D & E coal blocks, wind power projects of 50 Mw each in Maharashtra and Rajasthan, addition of fifth stream in the existing alumina refinery at Damanjodi, aluminum park at Angul in Odisha, a 20 Mw solar power project in Madhya Pradesh and other expansion and modernization activities.

Union minister for coal, power and mines Piyush Goyal has recently asked Nalco to prepare a prospective future plan to raise aluminum smelting capacity to two mtpa from the present nameplate capacity of 0.46 mtpa.

Share price of Nalco was down by 1.4% at the time of writing.

Moving on to news from stocks in oil & gas sector. As per an article in a leading financial daily, in a setback for Cairn India Ltd, the Delhi High Court rejected the company's plea to export surplus crude from its Rajasthan oil fields (Subscription Required).

Under the production sharing contract (PSC) between Cairn and the central government, the company would get a right to seek permission to export its share of the crude oil only after India attains self-sufficiency, the court said.

The company had earlier filed a petition to export excess crude oil as they claimed that their export policy gave it the right to do so. However, in an earlier hearing the government had said that export of country's domestic crude oil cannot be allowed, considering the fact that nearly 85% of required crude was imported. As it would be detrimental to national interest.

Moreover, neither the government, nor its nominees or public sector refineries were willing to purchase its crude. Cairn contended that it was forced to sell to two private refineries Reliance and Essar, at a loss since these prices were not internationally competitive.

However, according to the Centre, India had a total refining capacity of 223 million tonnes. However, at present only 38 million tonnes of crude oil was available. It would not be in the interest of the country to export crude.

Shares of Cairn India were trading up by 0.8% at the time of writing.

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

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers