Indian share markets lost their growing momentum and finished marginally lower in the afternoon session. At the closing bell, the BSE Sensex stood lower by 51 points, while the NSE Nifty finished down by 26 points. The S&P BSE Mid Cap finished down by 0.5% while & S&P BSE Small Cap finished up by 0.2%. Losses were largely seen in metal stocks, software stocks and pharma stocks.
Asian stock markets finished higher today with shares in Japan leading the region. The Nikkei 225 is up 0.62% while China's Shanghai Composite is up 0.43% and Hong Kong's Hang Seng is up 0.26%. European markets are higher today with shares in London leading the region. The FTSE 100 is up 0.59% while France's CAC 40 is up 0.49% and Germany's DAX is up 0.44%.
The rupee was trading at Rs 64.42 against the US$ in the afternoon session. Oil prices were trading at US$ 47.3 at the time of writing.
Kotak Mahindra Bank share price finished the trading day down by 1.4% on the BSE.
Moving on to news from oil & gas stocks. The government has approved explorer Oil and Natural Gas Corp's (ONGC) plan to buy its 51.1% stake in state-refiner Hindustan Petroleum Corp Ltd (HPCL).
As per The Economic Times, ONGC will be exempted from making an open offer to other shareholders of HPCL in the transaction, which is expected to be completed in a year. More such integration of oil companies is in the offing.
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