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Indian Equities Rebound as Oil Prices Soften, Global Cues Turn Positive - Rediff
Indian Equities Rebound as Oil Prices Soften, Global Cues Turn PositiveRediff
Petrol, diesel margins back to above pre-conflict levels: Report
State-run oil companies are poised for improved profitability as falling crude prices boost fuel marketing margins. While recent government excise duty cuts have aided this recovery, rising debt levels and potential tax increases pose risks to long-term earnings. Analysts anticipate better performance from the second quarter onwards, especially if oil prices remain below $80 per barrel, with BPCL and IOC seen as preferred investments.
Top Gainers & Losers on June 22: Kirloskar Oil Engines, Delhivery, Gabriel India, Urban Company among top gainers
The Indian stock market closed with gains as US-Iran peace talks progressed, boosting pharmaceutical and technology stocks. The Nifty 50 rose 0.37% to 24,102, while the Sensex closed at 77,044, up 0.31%. Broader markets and various sector indices also recorded positive movements.
Govt bonds walk tightrope on steady oil price, shaky US-Iran truce
Traders said Indian debt markets still face rate risks from El Niño's potential impact on inflation and growth and elevated global yields after a hawkish US Federal Reserve commentary
Indian Stock Market Opens Higher as Crude Oil Falls Below USD 80 - Open Magazine
Indian Stock Market Opens Higher as Crude Oil Falls Below USD 80Open Magazine
INR seen under pressure as DXY stays upbeat ahead of US data
The Indian rupee came under pressure in opening trades on Monday as dollar index remains firmly above 100 mark assessing geo-political situation in Middle East. As per media reports, US President Donald Trump over the weekend threatened strikes on Iran if Hezbollah keeps attacking Israel, raising concerns about progress for peace talks between Washington and Tehran. Markets now look ahead to the weeks release of the US PCE price index, the Federal Reserves preferred measure of inflation after Fed left rates unchanged last week. Meanwhile, INR opened at Rs 94.42 per dollar and slipped to a low of 94.48 so far during the day. On Friday, the counter ended at 94.33. Easing crude oil price from multi-year highs are however lending some support to the counter. Local equities in positive zone are also supporting rupee to some extent.
Kirloskar Oil Engines shares surge 18% to record high after cracking Cummins-dominated data centre market
Kirloskar Oil Engines shares rallied to 52-week high after the Indian generator maker secured a 192-megawatt order from HyperNext, a deal that analysts view as a major breakthrough for KOEL in the rapidly expanding data-centre power market, where Cummins has traditionally dominated with over 80% market share.
Indian shares open higher as US-Iran talks progress, oil eases - Reuters
Indian shares open higher as US-Iran talks progress, oil easesReuters
Rupee opens 4 paise lower at 94.36 against US dollar
The Indian rupee opened at 94.36, 4 paise weaker against the US dollar on June 22. Despite a 0.8% gain last week and easing crude oil prices, concerns about prolonged depreciation persist as diplomatic progress between the US and Iran supports market sentiment.
Can HPCL, BPCL And IOCL Make A Comeback? Brokerages See Margin Recovery Ahead — Check Revised Targets
Brokerages JPMorgan and Kotak Institutional Equities have both turned more constructive on the outlook for state-run fuel retailers, arguing that the sharp correction in oil prices has eased pressure on profitability for Indian Oil Corp. Ltd, Bharat Petroleum Corp. Ltd and Hindustan Petroleum Corp. Ltd.
What should investors do with HPCL, BPCL, IOC shares? Here are two recommendations
JPMorgan said that HPCL, BPCL, and IOC are likely to remain tactical plays in the near term, with their performance closely tied to further easing in oil prices. Among the three, the brokerage prefers BPCL and IOC.
From Gift Nifty, US-Iran peace talks to crude oil prices: 10 things that changed for Indian stock market over weekend - Mint
From Gift Nifty, US-Iran peace talks to crude oil prices: 10 things that changed for Indian stock market over weekendMint