Unstructured Finance

BSE Oil & Gas sector rises

INDIA-BUDGET
The BSE Oil & Gas Index ended 1.79 percent up in a broader market that closed 0.68 percent higher at 16519.

Lead gainers in the index were energy explorer ONGC, which ended 8.7 percent higher at 1118 rupees, and BPCL which rose 2.8 percent, after the government more than doubled natural gas prices on Wednesday.

Other stocks which contributed to the rise were HPCL and IOC, while Reliance Natural and Cairn India dropped.

A senior government official on Thursday said the government was likely to launch the next round of auctions for oil and gas block exploration in the current financial year.

Do you think the increase in gas prices will take the index to new highs and that it is the right time to invest in this sector?

Bad day for oil and gas counters

RELIANCE-OIL/The BSE Oil & Gas index ended as the worst sectoral performer on Thursday, posting losses of 1.8 percent, as the Sensex slumped 255 points on increased expectations of a rate hike.

Reliance Industries and Cairn India dropped over 2 percent each and were the top losers in the index. ONGC slipped 1.97 percent.

Shares of Essar Oil, however, rose 3.2 percent to end as top sectoral gainer. Essar Group on Thursday said it plans to raise about $2.5 billion by listing its energy and power businesses on the London bourse.

Weak day for oil & gas stocks

Shares in ONGC dropped over 2 percent and ended as the top Sensex loser as the broader market closed just 18 points higher.

The Oil & Gas Index slipped around 0.7 percent in trade, with ONGC, BPCL and Reliance among the losers.

Energy major Reliance Industries shed 0.7 percent to 2,133.75 rupees, as the energy major did not make any major announcement at its annual general meeting today. Chairman Mukesh Ambani said the company would work towards attaining global scale for its conventional energy platform and invest in new businesses such as retailing and alternative energy.

Ghana, Ghana, Gone to Exxon

Sources tell us that oil behemoth Exxon Mobil won the bidding in an auction for Kosmos Energy’s stake in the Jubilee field in Ghana, one of the biggest oil discoveries in recent years. Analysts have said the stake could be worth up to $5 billion.

Private equity-backed Kosmos put its interests in the multibillion-barrel field, which it co-owns with Irish oil explorer Tullow Oil and Houston-based Anadarko Petroleum, on the market earlier this year.

Huge interest in the stake was reported. India’s ONGC, China’s CNOOC and even Ghana’s own National Petroleum Corp all expressed interest at some point over the summer. Other corporate interests thought to be bidding included BP, Shell Oil and ENI SpA.

Market ends flat, no cues from economic survey

MARKETS SOUTHASIA STOCKSThe Sensex ended just 13 points higher at 14,658 after a volatile session as investors awaited budget announcements next week.

The government released the economic survey report on Thursday which said India could see growth of around 7 percent this year if it makes sweeping reforms and speeds infrastructure development. (Click here for complete coverage)

Shares in Reliance Industries and Bharti Airtel fell over 2 percent each.

ONGC shares jumped 7 percent after the government raised fuel prices on Wednesday, a move that could ease the subsidy burden on oil firms. ONGC was also the top index gainer.

Sensex ends lower after volatile session

INDIA-BUDGETThe Sensex remained volatile in trade and ended 77 points lower at 14,346 on fears that below normal monsoon rains can hurt the economy.

Reliance Industries, which has an over 14 percent weight in the benchmark, led the fall, slipping over 2 percent to 1,959 rupees. ITC, ONGC and BHEL were the other contributors.

The sectoral picture too looked bleak, with only realty, banking and capital goods indices managing to end in the green. The auto and oil & gas indices were the worst performers registering a decline of 2.1 percent each.

Sensex gains in choppy trade

The BSE Sensex ended 0.69 percent higher on short-covering ahead of the monthly derivatives expiry. Gains were capped by worries about the health of the global economy.

Trade was volatile and the 30-share sensitive index swung from an intra-day low of 14,207 to an intra-day high of 14,479 and closed 98 points higher at 14,422. The fifty-share Nifty ended 1.08 percent up at 4,293.

INDIA-STOCKS/6PCT The BSE Mid-cap Index gained 2.38 pct, while the BSE Small-cap Index ended 2.26 pct higher.

Sensex ends flat after recovering early losses

The BSE Sensex erased early losses to end flat, tracking global markets as concerns about the prospects for an economic recovery pushed key indices into negative territory.
INDIA-STOCKS/6PCT
The market remained volatile ahead of the expiry of the current months derivative contract on Thursday. The rise in the benchmark was led by Reliance Industries, HDFC, BHEL and ONGC.

The 30-share sensitive index swung from an intra-day high of 14,394 to an intra-day low of 14,016 and closed 2.1 points lower at 14,324. The fifty-share Nifty ended 0.28 percent up at 4,247.

On the sectoral front, the BSE Banking Index dropped 2.1 percent, followed by the Metal Index which ended 1.5 percent lower. However, the BSE Oil & Gas Index closed 2.6 percent higher.

Sensex slips 55 points in choppy trade

INDIA-BUDGETInvestors today booked profits in a market that had touched a 10-month high on Wednesday, bringing the benchmark down by 55 points.

The Sensex closed at 15,411 after recovering over 150 points from the day’s low. The index was led lower by losses in Infosys, ONGC and SBI.

Info-tech stocks stood out for their bad run, with the sectoral index shedding 2.5 percent. Infosys Technologies and Wipro lost 2.8 and 2.1 percent respectively.

Sensex gains over 500 points

INDIAThe Sensex jumped over 500 points today to close above the 14,100 mark, recovering all of Tuesday’s losses, on investor optimism about a recovery in the global economy.

The rally was led by heavyweight counters like ICICI, ONGC and Reliance Industries.

Reliance Infrastructure, which ended 14.7 percent higher, was the top gainer among the Sensex components. It was followed by Sterlite Industries and ONGC, both gaining over 9 percent.

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