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Mid & small cap buck trend
Fri, 1 Aug 01:30 pm

Indian share markets continued to trade in the red in the post-noon trading session. Sectoral indices are trading mixed with IT and capital goods stocks being the biggest losers whereas realty and banking stocks are trading positive.

BSE-Sensex is down 104 points and NSE-Nifty is trading 31 points down. Both BSE Mid Cap and BSE Small Cap indices are trading up by 0.3%. The rupee is trading at 60.81 to the US dollar.

Domestic pharma stocks are trading mixed with Divis's Laboratories and Glenmark Pharma being the major gainers whereas Ranbaxy Laboratories and Indoco Remedies are trading in the red. As per a leading financial daily, Cipla has entered into an agreement with US-based Bioquiddity Inc. to sell its anesthetic applications in the European Union. The commercial collaboration is for BioQuiddity's OneDose ReadyfusOR anaesthetic product pre-filled with drug Ropivacaine for post surgical pain management. Cipla also wants to launch the anaesthetic product under its own label in German market later during year. The deal has been executed through Cipla's wholly-owned subsidiary in Europe. Cipla stock is currently trading down marginally.

Automobiles stock are trading on a mixed note today. TVS Motors and Maruti Suzuki are leading the pack of gainers, whereas Mahindra & Mahindra is trading on a weak note. India's leader in car market, Maruti Suzuki has reported its sales number for the month of July 2014. In domestic market, the company sold a total of 90,093 cars for the month, which was 20% higher over the corresponding same month of previous year. At 11,287 units, exports in July were higher by 38.4% YoY. However, sales from small cars namely Alto, A-Star and WagonR declined 14.4% YoY and mid-range SX4 witnessed decline of 27% YoY during the month. However, growth was witnessed in compact cars segment like Swift, Estilo, Ritz and Celerio which together rose by 81% YoY to 25,500 units. Its compact sedan Dzire, one of the top selling cars, rose 22% YoY to 18,000 units. The stock of Maruti is trading up by 3.6% today.

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