IOC strengthens on plan to pick 38% stake in Rs 5,000 crore Dhamra LNG project in Odisha

 IOC and GAIL (India) will exercise their right to jointly acquire 49% stake in Adani Group’s Rs 5,000 crore Dhamra LNG project in Odisha. While, IOC will take a 38% stake, GAIL will pick up 11% stake in the proposed 5 million tonne per annum liquefied natural gas import terminal in Dharma, being set up by Adani Petroleum Terminal (APTPL). APTPL will also hold a 49% stake in the project and remaining 2% will be held by financial institutions.

The Sensex and the Nifty Highest Closing levels Week @ Market Live Updates

Key benchmark indices settled with small gains in a lacklustre trading session. The barometer index, the S&P BSE Sensex, rose 35.47 points or 0.12% to settle at 28,634.50. The gains for the Nifty 50 index were higher than those for the Sensex in percentage terms. The Nifty rose 28.55 points or 0.33% to settle at 8,808.40. Key indices gained for fourth day in a row. The Sensex and the Nifty, both, attained their highest closing levels in more than a week.

In overseas stock markets, European shares edged higher led by gains in banking and energy shares. Asian stocks rose with sentiment driven by a rebound in oil prices while traders were also keeping an eye on crucial monetary policy decisions due from the US and Japan later this week. Japan stock market remained closed for a holiday. US stocks registered modest losses on Friday, 16 September 2016, with financials and energy shares lagging. The US Federal Reserve policy makers begin their two-day policy meeting tomorrow, 20 September 2016. The Fed is expected to keep its benchmark interest rate unchanged in the wake of recent downbeat US economic indicators. The Fed left the target rang In overseas stock markets, European shares edged higher led by gains in banking and energy shares. Asian stocks rose with sentiment driven by a rebound in oil prices while traders were also keeping an eye on crucial monetary policy decisions due from the US and Japan later this week. Japan stock market remained closed for a holiday. US stocks registered modest losses on Friday, 16 September 2016, with financials and energy shares lagging. The US Federal Reserve policy makers begin their two-day policy meeting tomorrow, 20 September 2016. The Fed is expected to keep its benchmark interest rate unchanged in the wake of recent downbeat US economic indicators. The Fed left the target range for its federal funds rate unchanged at 0.25% to 0.5% for the fifth time during its July 2016 meeting.e for its federal funds rate unchanged at 0.25% to 0.5% for the fifth time during its July 2016 meeting.

 Highest OI increase w.r.t to increase in price was seen in and Highest OI increase w.r.t to IBREALEST Decrease in price was seen in CASTROLIND.

Stock Market Rises More Than 1 Percent - Updates By Money Maker Research

Indian stock market rose over 1 percent on Friday in the noon session, heading for their third straight session of gains, in line with Asian markets as lackluster U.S. retail sales data reduced already low chances of an interest rate hike by the Federal Reserve next week. Sensex has hiked 295 points yet and Nifty has rise 79 points to 8822. Currently Rupee is trading higher by 13 paise at 66.89 against US Dollar. Till yet 1571 shares have advanced, 996 shares declined and 184 shares remained unchanged. Midcap sectors are showing average movements. BSE Small Cap has hiked 53 points to 12799, while BSE Midcap drifted up 30 points to 13122.

Commodity Market is slipping down in today's session. In Bullion Market, MCX Gold dropped 52 points to 30858 and Silver dropped 141 points to 45497. Crude Oil fell 40 points down ahead weak global cues.

Asian Market Update: Nikkei has hiked 114 points to 16519, Hang Seng hiked 144 points to 23335 and China's index Shanghai Composite dropped 20 points to 3002.