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A firm end to a choppy session
Tue, 24 Feb Closing

Indian equity markets began the day's proceedings on a cautious note and witnessed a choppy trade as the indices slipped into the red in the late afternoon session. However, buying activity picked up towards the end with the benchmark index closing in the green. The Sensex today closed higher by 30 points (up 0.1%), while the NSE-Nifty closed higher by 7 points (up 0.1%) today. The BSE Mid Cap and the BSE Small Cap, however, closed in the red, down 0.2% and 0.8% respectively. Gains were largely seen in FMCG and capital goods stocks, while oil and gas and metal stocks were facing selling pressure.

Barring Hong Kong (down 0.4%), the major Asian stock markets ended the day on a firm note, while most stocks in Europe were trading in the red. The rupee was trading at Rs 62.34 to the dollar at the time of writing.

Auto stocks closed on a mixed note today with the key losers being TVS Motors and Tata Motors Ltd. However, Tube Investments Ltd and Escorts Ltd were the major gainers. Maruti Suzuki Ltd has launched refreshed version of its popular compact sedan Dzire with introductory prices ranging from Rs 5.07 lakh to Rs 7.81 lakh (ex-showroom Delhi). As per the management, the new car offers enhanced fuel efficiency apart from fresh styling, comfort and convenience features. The diesel variant offers fuel economy of 26.59 kmpl, up 13 % as compared to previous version , while the petrol version has fuel efficiency of 20.85 kmpl, up 9 % as compared to previous version. While the diesel option has a 1.3 litre engine and is tagged at Rs 5.99 lakh to Rs 7.81 lakh, the petrol variant has 1.2 litre engine and is priced between Rs 5.07 lakh and Rs 6.8 lakh, (all prices ex-showroom Delhi).

Most telecom stocks closed weak today with the key losers being AGC Networks Ltd and Reliance Communications Ltd. The telecom stocks remained in focus as telecom regulator TRAI has removed charges that a landline service provider has to pay to the other service providers for transmitting its customers' phone calls. This move is likely to lead to lower tariffs. The regulator has also slashed network interconnection usage charges (IUC) on calls made from mobile phones by about 30 % to 14 paise per call. Besides, it has decided to prescribe FTC (fixed termination) as well as MTC (mobile termination charge) for wireline to wireless calls as zero, with an aim to promote investment and adoption of wireline networks and hence delivery of high-speed Internet in the country.

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Jan 24, 2018 03:23 PM