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Indian Markets Close Below 8950
Thu, 5 Mar Closing

Indian markets opened today's trading session on a flattish note but remained choppy for the most part of the trading day. However, it completed the session green. BSE Sensex gained about 70 points, up 0.23% while NSE-Nifty closed in the green but fell short of the 8950 mark. The NSE index gained 15 points, up 0.20%. S&P BSE midcap and S&P BSE Smallcap gained about 0.7% each. Today's lead gainers were Pharmaceutical and Banks while Capital Goods and Metals finished in the red.

Crude oil prices spiked 3% today. Per barrel, the crude oil was trading at 3,260, up Rs 100. The value of Indian rupee declined against the U.S Dollar by 0.02 and was trading at 62.22. The precious metals continue to trade on a flattish note. The Gold price declined 0.3% or Rs 75 and is trading Rs 26,472 per 10 grams while Silver prices declined marginally by Rs 14 and is trading at Rs 36,509 per kilogram.

European markets continue to trade in the green with modest profits as investors' sentiment await ECB's decision on interest rate cut which is due today. DAX and FTSE are trading with gains of 0.44% and 0.21%, respectively.

Power sector remained under pressure during today's trading session. However, share price of KEC International had increased about 3.3% but came down to 1.5% on some profit booking. The company won an order of Rs. 12.43 billion from various segments such as transmission, railways and cables business. Of this order, transmission and distribution alone constitute about Rs 9.9 billion.

The Information Technology sector traded between gains and losses, however, companies like HCL Tech and Ramco System closed in the green while TCS closed in the red. Shares of Ramco industries gained more than 5% after Mecaer Aviation Group (MAG) selected Ramco's "Ramco Aviation MRO Software" for use. This is second such positive development after the company had received an order from Vietnam-based helicopter services on 03 March 2015.

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