Reliance Energy’s stock quadrupled in 2007 but the stock dropped over 20% year to date. The popularity of Reliance Energy spilled over to Reliance Power when the Reliance Power IPO of $20.37 billion was oversubscribed on the Bombay and National Stock times by 7.6. News out of Reliance Energy regarding a stock buyback should bolster shares after the stock has …
Energy Stocks Pull Back After Early Gains
Energy stocks pulled back erasing earlier gains as speculation grew on an increase in inventory levels to be released tomorrow by the EIA. Traders are also worried about potential production increases from OPEC although the market continues to receive mixed signals from the oil producing nations. . Here’s more on energy stocks.
S&P Index Underweights Energy Stocks
When you consider the fact that the energy sector’s market cap in the S&P 500 is about 10.6%, would anyone argue that the index needs to be re-weighted to reflect the money that is flowing into the energy sector. If you’re not convinced, consider the fact that that the current weighting is below below the thirty year average. Still not …