Sensex,
Nifty weak ahead of F&O expiry; BHEL, Wipro up
The
market is still sulking with oil & gas stocks dragging feet.
Investors are also cautious ahead of June F&O expiry series. The
Sensex is down 132.16 points at 25181.58 and the Nifty is down 34.70
points at 7534.55. About 1239 shares have advanced, 1141 shares
declined and 92 shares are unchanged
Don't
see pre-Budget rally; like auto cos: Motilal Oswal
What
would you do with oil and gas stocks after the reaction that you see
today?
I
think there is nothing negative about the oil marketing companies per
se; you will have the Hindustan Petroleum Corporation (HPCL), Bharat
Petroleum Corporation (BPCL) and Indian Oil Corporation (IOC) will
not get impacted. There will be a negative kneejerk reaction to Oil
India, Oil and Natural Gas Corporation (ONGC) because the earnings
per share (EPS) cut because of six months delay, the sensitivity is
like this that for every dollar delay increase for six months reduces
ONGC’s EPS by 5 percent, for Oil India 3.5 percent. Therefore,
these stocks would be negatively impacted. GAIL, I do not think would
get impacted at all.
MCX
Silver September contract trades lower
Silver
prices on MCX were trading lower on Thursday. MCX Silver September
contract was trading at Rs 44922 down Rs 230, or 0.51 percent.
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