Stocks of Hindustan Petroleum Corporation Limited (HPCL), Bharat Petroleum Corporation Limited (BPCL) and Indian Oil Corporation Limited (IOCL) have more headroom left despite the sharp run in the last few weeks, suggests a recent report from Morgan Stanley. Stocks of these oil refining and marketing companies (OMCs), it believes, are seeing multiples re-rate as investors reassess long-term growth prospects. "IOCL trades at one year forward P/BV of 1.2x, 19 per cent below +1 standard deviation (SD); BPCL trades at one year forward P/BV of 1.5x, near historical averages; HPCL trades at one year forward P/BV of 1.5x, near +1SD," Morgan Stanley said.
Investor wealth on Friday declined over Rs 2.23 lakh crore as markets cracked. The 30-share BSE Sensex slumped 549.49 points or 1.11 per cent to close at 49,034.67. During the day, it plunged 788.37 points to 48,795.79.
Top gainers in the Sensex pack included Bajaj Finance, ONGC, Yes Bank, HDFC, HCL Tech, Tech Mahindra, TCS, ICICI Bank and RIL, rising up to 3.57 per cent.
Christopher Wood, global head of equity strategy at Jefferies reiterate his bullish view on Indian equities on the back of a steady fall in Covid cases coupled with a sharp economic recovery in India, reports Puneet Wadhwa.
Despite a massive underperformance at the bourses since the last six months, analysts are turning optimistic on Reliance Industries (RIL). Those at Jefferies, for instance, say that the company is a proxy play for India's consumption growth story. The key catalysts for the stock, according to a Jeffries note, include faster-than-expected market share gain in retail, oil-to-chemicals (O2C) stake sale, recovery in gross refining margins (GRM), potential public listing of Jio and even a possible banking licence going ahead. That apart, analysts feel any tariff hike in Reliance Jio (RJio) - its telecom venture - will also aid performance. With balance sheet adequately de-levered, proceeds from a strategic stake sale in the O2C business will create a sizeable war chest for the company, analysts say.
The wider NSE Nifty touched a low of 10,652.40 before finishing at 10,671.40, showing a loss of 97.75 points, or 0.91 per cent.
Top gainers in the Sensex pack were TCS, Bharti Airtel, Infosys, Axis Bank, L&T, ITC, PowerGrid, HCL Tech and Tata Steel, ending up to 2.39 per cent.
The NSE Nifty ended at 3,039, down 39 points. The market breadth was marginally positive - out of 2,616 stocks traded, 1,275 advanced, 1,258 declined and the rest were unchanged on Monday.
Having opened with a huge positive gap of 128 points at 15,772 and moved up to a high of 15,834 in morning deal, the Sensex dropped to 15,298 - an intra-day swing of 536 points. It finally closed with a marginal loss of 18 pts at 15,627. BHEL, L&T, M&M, Wipro, Tata Steel, Bharti, ICICI Bank & Infosys were major losers. HUL, ITC, Reliance, ONGC & Reliance Energy were major gainers. GSS America was the most active counter with a turnover of Rs 468cr followed by Reliance Capital
Reliance led the rally today with a gain of nearly 3% (Rs 83) at Rs 2,986. ICICI Bank advanced nearly 5% (Rs 57) to Rs 1,285. L&T gained 4.5% (Rs 183) to Rs 4,244.
The Sensex finally ended with a gain of 240 points at 19,603. The Nifty gains 102 points at 5,865.
The NSE Nifty ended at 4,938, up 7 points. The Realty index, however, dropped 3 per cent to 9085. The market breadth was negative - out of 2,816 stocks traded, 1,654 declined, 1,111 advanced and 51 were unchanged on Tuesday.
The Sensex, which hit a high of 15,593 in intra-day deals today, closed with a gain of 271 points at 15,572.
The Sensex opened with a positive gap of 90 points at 14,217
NSE Nifty ends at 4,151, up 63 points.
The Sensex finally closed with a gain of 338 points (1.70%) at 20,193. The Nifty gained 86 points to close at 6,071.
The markets are stable and are trading in the positive terrain
The Sensex, which dropped to a low of 12,941, is now up 10 points at 12,972
The markets opened on a positive note but became volatile
NSE Nifty closed at 3544 down 9 points.
The markets opened in red on the back of weak global cues
The Sensex opened with a positive gap of 33 points at 12,393. The index has zoomed past the 12,500-mark, and is now up 142 points at 12,502.
The Sensex opened on a flat note at 7,616, and touched a high of 7,640 in early deals.
Markets gained for the second straight session to kick-off the September F&O series on a robust note.
BSE Midcap and BSE Smallcap indices registered an uptick of 0.06%, and 0.05%, respectively
The Sensex opened on a steady note at 7,747 as against the last close of 7,745.
Top losers in the Sensex pack include Bharti Airtel, Infosys, Asian Paints, RIL, Coal India, HDFC Bank, HDFC, TCS, ONGC and M&M, falling up to 3.09 per cent.
The broad market depicted strength. 1,525 shares rose and 1,131 shares fell. A total of 156 shares remained unchanged
The Sensex swung over 660 points both ways on alternate bouts of selling and buying before closing the day higher by 97.39 points, or 0.28 per cent.
The S&P BSE Sensex ended the day at 28,226, up 85 points, while the Nifty50 settled at 8,734, up 18 points.
Side indices raced ahead with BSE Midcap and BSE Smallcap advancing 0.4% and 0.3% up, respectively.
The market breadth, indicating the overall health of the market was strong
The Sensex closed the day at 28,141, up 486 points, while Nifty50 settled at 8,716, up 155 points.
Money managers have turned cautious about the technology space.
But the 30-share Sensex rose by 141.52 points, or 0.41 per cent, to close at 34,297.47. The broader NSE Nifty gained 44.60- points, or 0.42 per cent, to end at 10,545.50 after touching a high of 10,618.10.
Overseas investors were one of the heavy buyers.
Among Sensex constituents, Vedanta fell 3.40 per cent, followed by SBI 3.17 per cent, Yes Bank 3.11 per cent, Axis Bank 1.68 per cent, ONGC 1.60 per cent, Power Grid 1.52 per cent and HDFC 1.48 per cent.
Sectoral performance was mixed with media and PSU banking stocks attracting buyer interest and healthcare, FMCG and metal stocks bearing the brunt of the bears
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