Indian markets extended their gains as BSE-Sensex rose by about 500 points while NSE-Nifty rose about 150 points in the second half of the trading session. All the sectoral indices have shown strength in today's trading session. However, maximum gains have been minted by capital goods and PSU companies. S&P BSE Midcap and S&P BSE Smallcap stocks have outperformed the Indian indices. While the midcap companies are trading with strength of over 1.5% smallcap companies have gained over 2.5%.
Commodities extended their losses as gains in equity attracted investors' attention. Gold prices, per 10 grams, lost over 0.8% and are trading at Rs 26,345 levels while the Silver prices, per kilogram, have lost over 1.6% and are trading with losses of Rs 629. Silver is available at Rs 37,766. Crude oil prices recovered a little since morning. Per barrel, crude oil is trading with a loss of 3.6% or loss of Rs 114 and is available at Rs 3,038. US Dollar continues to trade with strength of 0.4% or 0.24. India Rupee is available at Rs 62.65 against the US Dollar.
Shares of textile companies have gained ground during today's trading session. Among all the companies Pioneer Emroid and Alok Industries have gained with over 6%. Shares of Arvind gained nearly 2% after San Francisco based company, GAP announced that it will be venturing in the Indian markets in association with Arvind Lifestyle. The company plans to open 40 Franchise shops under Arvind Lifestyle. The maiden shop, however, will be inaugurated in Delhi. According to a leading financial source, Arvind Limited has made a payment of $3.2 mn to Ralph Lauren. This payment was decided during the meeting that took place in "good faith" over allegations of wrongly printing the disclaimers, under USPA act, on foreign goods that were sold in India.
Automobiles gained a lot of investor attention after witnessing huge sell-offs last week. Apart from TVS Motors, all the major automobile companies are trading in the green. Shares of Bajaj Auto gained about 0.7% after it introduced a new bike in the market. The company has added one more product into its range of Pulsar Brands. The new Pulsar bike will cost Rs 1.18 lakh. Among many features, the bike will have a 4-valve triple spark DTSi engine. It will also have 300mm braking disc and ABS perimeter time frame. As an added attraction, the company has introduced gas-filled Nitrox Mono Suspension. The bike will be having a top speed of about 140 kmph.