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Small, mid caps buck the trend
Mon, 12 Jan 11:30 am

After opening in the red, the Indian Indices inched closer to the dotted line during the morning session. Metal and oil and gas stocks are leading the losers currently. Mid and small cap stocks are witnessing buying interest.

The BSE-Sensex is trading down by 30 points. The NSE-Nifty is trading down 3 points. The BSE Mid Cap index is trading up 0.5% and the BSE Small Cap index is trading up 0.7%. The rupee is trading at 62.39 to the US dollar.

Auto stocks are currently trading mixed, with the gainers being led by Ashok Leyland and Escorts. As per a leading business daily, Hero MotoCorp has sold more than 200,000 units outside of India in 2014. This is the highest ever in a single year by the company. The company's international sales rose to 201,245 two wheelers during the last year. This is nearly 50% more than the 135,184 units that the company sold during 2013.

As per a leading business daily, private sector banks are significantly lagging behind their public sector bank (PSB) peers when it comes to opening accounts under the Prime Minister's Jan Dhan Yojana. The former have opened just about 3 m such accounts in the last 4 months or so. During this same period, the PSBs have opened 86.2 m accounts under this scheme. In fact, the number of such accounts opened by even regional rural banks stands at 19.2 m. Looked at it another way, even though private banks have a market share of roughly 20%, their contribution to opening of such accounts is only about 3%.

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