2:35 pm Market Expert: Most of the positive developments in the economy have been factored in by the markets, says Shyamsunder Bhat, Chief Investment Officer, Exide Life Insurance. Hence he advises all investors to keep to have a longer outlook at the current index levels. Although he doesn't sense any near-term negative triggers that may affect the markets. Market is till very good and the rallies may extend due to fund inflows and positive sentiment of the investors. Liquidity is waiting to get into the markets, he says. But a correction is bound to come sometime in the near future. However it is expected to be shortlived.
2:25 pm Talks for coal exports: India's biggest coal company Coal India is in "deep consultation" with Bangladesh to export the dry fuel, Coal Secretary Anil Swarup said today. The development comes in the backdrop of a sharp decline in demand for coal as well as with an inventory of over 80 million tonnes (MT) of the fuel at the pitheads and power plants. "We are already into it and they (CIL) are in very deep consultations with Bangladesh for exporting it," he told reporters on the sidelines of an event here. Exports to Bangladesh would also aid CIL in increasing sales as India in July inked a landmark deal with Bangladesh to construct a 1,320 mw coal fired power plant, the biggest project under bilateral cooperation.
2:10 pm Gas auction for power plants: Lanco Kodapalli Power has secured the highest allocation of 3.11 mmscmd of gas followed by Dabhol project at 2.43 mmscmd for 6 months till March in an e-auction by Power Ministry. The auction for supplying 9.93 mmscmd gas for a six-month period till March, 2017 was conducted on Saturday by the Ministry under Power System Development Fund (PSDF), an initiative to revive the stranded gas based power plants. With secured gas supplies, the 9 plants that emerged as the lowest bidders will generate a total 8.81 billion units of electricity, which would be supplied at or below Rs 4.70 per unit for the said period.
2:00 pm Market Check The rally in equity benchmarks as well as broader markets continued in afternoon trade as latest weaker-than-expected US jobs data indicated that further rate hike is unlikely by end of 2016. The 30-share BSE Sensex surged 317.95 points or 1.11 percent to 28850.06 and the 50-share BSE Nifty jumped 93.10 points or 1.06 percent to 8902.75. The BSE Midcap gained 1.4 percent and Smallcap was up 0.9 percent on positive breadth. About 1596 shares advanced against 1001 declining shares on the exchange. European stocks reversed earlier gains to trade mixed as oil prices slipped and lack of drivers gave investors little to be bullish about. The pan-European STOXX 600 was flat-to-lower after initially starting the day in positive territory. Brent crude prices dipped 0.7 percent following Monday's rally as other oil producers welcomed an agreement between Saudi Arabia and Russia to stabilize the oil market.
2:25 pm Talks for coal exports: India's biggest coal company Coal India is in "deep consultation" with Bangladesh to export the dry fuel, Coal Secretary Anil Swarup said today. The development comes in the backdrop of a sharp decline in demand for coal as well as with an inventory of over 80 million tonnes (MT) of the fuel at the pitheads and power plants. "We are already into it and they (CIL) are in very deep consultations with Bangladesh for exporting it," he told reporters on the sidelines of an event here. Exports to Bangladesh would also aid CIL in increasing sales as India in July inked a landmark deal with Bangladesh to construct a 1,320 mw coal fired power plant, the biggest project under bilateral cooperation.
2:10 pm Gas auction for power plants: Lanco Kodapalli Power has secured the highest allocation of 3.11 mmscmd of gas followed by Dabhol project at 2.43 mmscmd for 6 months till March in an e-auction by Power Ministry. The auction for supplying 9.93 mmscmd gas for a six-month period till March, 2017 was conducted on Saturday by the Ministry under Power System Development Fund (PSDF), an initiative to revive the stranded gas based power plants. With secured gas supplies, the 9 plants that emerged as the lowest bidders will generate a total 8.81 billion units of electricity, which would be supplied at or below Rs 4.70 per unit for the said period.
2:00 pm Market Check The rally in equity benchmarks as well as broader markets continued in afternoon trade as latest weaker-than-expected US jobs data indicated that further rate hike is unlikely by end of 2016. The 30-share BSE Sensex surged 317.95 points or 1.11 percent to 28850.06 and the 50-share BSE Nifty jumped 93.10 points or 1.06 percent to 8902.75. The BSE Midcap gained 1.4 percent and Smallcap was up 0.9 percent on positive breadth. About 1596 shares advanced against 1001 declining shares on the exchange. European stocks reversed earlier gains to trade mixed as oil prices slipped and lack of drivers gave investors little to be bullish about. The pan-European STOXX 600 was flat-to-lower after initially starting the day in positive territory. Brent crude prices dipped 0.7 percent following Monday's rally as other oil producers welcomed an agreement between Saudi Arabia and Russia to stabilize the oil market.
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