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Indian share markets open firm
Thu, 21 Aug 09:30 am

Barring Japan (up 0.8%) and Singapore (up 0.1%), all major Asian stock markets have opened the day on a weak note with stock markets in South Korea (down 1.3%), Hong Kong (down 1%) and China (down 0.9%%) leading the losses. The Indian share markets have opened the day on a positive note. Barring metal, healthcare and oil and gas indices, all other sectoral indices are trading in the green with auto and realty indices leading the gains.

The Sensex today is up by around 41 points (0.2%), while the NSE-Nifty is up by about 10 points (0.1%). Mid and small cap stocks are also trading in the green with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% each. The rupee is currently trading at Rs 60.80 to the US dollar.

Auto sector stocks have mainly opened the day on a firm note with Escorts and TVS Motor Company leading the gains. As per a leading financial daily, Chennai-based two-wheeler and three-wheeler maker TVS Motor Company has launched the upgraded variant of its popular scooterette, the Scooty Zest. The company claims that this new scooterette would offer a mileage of 62 km per litre. It is available at Rs 42,300 (Ex-showroom New Delhi). It must be noted that the launch of the new 110cc scooterette comes under TVS' strategy of introducing a new product in every quarter. In the last quarter, the company had launched 110cc motorcycle Star City+. The company aims to expand its market share in the overall two-wheeler segment from 15% currently to 18%.

FMCG sector stocks have mainly opened the day on a firm note with Kokuyo Camlin, Lakshmi Energy and Godrej Consumer Products Ltd (GCPL) leading the gains. As per a leading financial daily, FMGC major GCPL is aiming to achieve double digit growth during the current financial year 2014-15 (FY15). The company expects uptake in urban demand amid rising optimism in the market. It must be noted that the urban areas contribute about 70% of the company's revenues. The growth is expected to be much better in the second half of the year compared to the first half. It is also worth noting that GCPL has been growing by about 28-29% annually over the last three years.

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