Indian share market finished the week on a
flat note with positive bias amid mixed global markets.
At the closing bell, the BSE Sensex
stood higher by 53 points, while the NSE Nifty
finished up by 15 points. Meanwhile, the S&P BSE Mid
Cap & the S&P BSE Small
Cap finished up by 0.2% and 0.5% respectively.
Gains were largely seen in realty
stocks and bank
stocks.
Moving
on to news from stocks in steel
sector.
As
per an article in The Livemint, Steel
Authority of India Limited (SAIL) reported a decline in standalone net loss at
Rs 7.30 billion for the quarter
ended September 30, helped
by a strong marketing push and cost optimization measures. The company had
posted a net loss of Rs. 11.08 billion in the year-ago period.
Total
standalone income of the company rose by 21% to Rs 125.77 billion in July-September quarter this fiscal from
Rs 103.78 billion during the same quarter in 2015-16.
Indian
Steel Sector contributed 2% to overall Gross Domestic Product of the
country during 2015-16. India is close to acquiring the second position in
crude steel production if it continues with its current growth rate. According
to the latest report of World Steel Association (WSA), India’s steel production
during January-October 2016 grew by 6.8% to reach 79.5 million tonnes, even as
global steel output saw a 0.1% contraction.
SAIL
share price finished the trading day up by 3.2% on the BSE.
At
the time of writing this share market
news, the rupee was trading at 67.58
against the US$ and Oil
prices were trading at US$ 51.19.
At
last, if you have any query, use Equitymaster's online stock
screener to scan stocks listed in BSE and NSE stock exchanges in India
using various key metrics like share price, market cap, P/E ratio, dividend
yield and more.
Read the complete Indian stock market update. For terms
of use, go here.
No comments:
Post a Comment