Indian markets continue to trade on a strong note as BSE Sensex gained over 300 points and NSE-Nifty gained over 80 points, holding 8,400 levels in the process. BSE Mid Cap and BSE Small Cap indices have clearly outperformed the market as midcap stocks gained more than 1.2% and smallcap stocks gained over 2% in the first half of the trading session. Among the sectoral indices Capital Goods gained the maximum with over 2% gains while Oil & Gas lost the most.
Commodities continue to trade in the red. While the gold prices, per 10 grams, lost 0.8% or Rs 200; silver prices, per kilogram lost over 1.4% or Rs 550. Crude oil prices resumed it downward trend as concerns over Yemen war eased. Per barrel, crude oil prices tanked nearly 4%. US Dollar has shown strength in today's trading session as it gained about 0.4% or 0.24 and is currently trading at Rs 62.65 against the Indian Rupee.
Barring few stocks, all the engineering companies are trading in the green. TRF Ltd and BEML are leading with gains. Shares of Crompton Greaves gained ground as it was awarded an order worth Rs 1.15 bn from Powergrid. The order involves supplying 80 MVAR 765kv shunt reactors. The order is scheduled to be completed within 20 months. The project also includes design, engineering, shop testing, erection testing and commissioning. Shares of the company increased as much as 1.2% after such developments.
Apart from Hindustan Zinc and Sesa Sterlite all the companies within the mining sector are trading in the green. NMDC gained over 1.5% after the company said that it has commissioned Bailadila iron order deposit 11B in Chattisgarh. This facility has been established on the back of Rs 6 bn investment. With the addition of this unit the total production output of the Bailadila district has increased to 32 Million Tonnes Per Annum (MTPA) from 25 MTPA. The company aims to achieve the milestone of 100 MTPA .