Energy stocks light up amid tepid markets
DSIJ Intelligence / 18 Oct 2017
In an otherwise lacklustre market, the Nifty Energy index spiked 2.51% and was trading at 14,072.95.
In an otherwise lacklustre market, the Nifty Energy index spiked 2.51% and was trading at 14,072.95. Reliance Industries, Powergrid and ONGC were the major contributors to the index gains. Reliance was trading at Rs. 914.90 per share, up by 4.64%; Powergrid was at Rs. 213.20 per share, up 4.05%, while ONGC was Rs. 174.00 per share, up 1.64% on Wednesday.
Other stocks including Bharat Petroleum Corporation was trading at Rs. 517.30 per share up by 0.86%; Tata Power was at Rs. 81.75 per share, up by 0.18%, NTPC was trading at Rs. 176.10, up by 0.11%. While GAIL, IOC and HPCL were trading in the negative territory, post lunch hours.
The gains can be attributed to the government's thrust on energy self-sufficiency as well as the proposed foreign investments that are being made in the sector. Also, over the past few years, the international energy market has experienced intense price volatility. Crude oil prices have remain below US$50 helping the oil and gas companies in maintaining steady margins. All this has brought back investor's attention to the energy stocks.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.