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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Profit booking towards the end 
(Tue, 31 Mar 03:30 pm) 
 
Indian markets turned red as investors booked profits after rallying over 600 points within two trading days. BSE Sensex is trading with a loss of about 40 points while NSE-Nifty is trading lower by 12 points. BSE Mid Cap and BSE Small Cap continue to outperform sectoral indices as well as broader indices. While the midcap stocks gained over 2%, smallcap stocks gained over 3%. Banking and IT sectors showed weakness in the second half of the session. However, Metals and Consumer Durable stocks continued to advance with more than 4% gains each.

Commodities continue to trade with moderate losses. While the gold prices, per 10 grams, fell about 0.4% or Rs 95; Silver prices fell about 0.9% or Rs 314. Gold prices are available at Rs 26,175 levels while the silver prices are available at Rs 37,152 levels. Crude oil prices lost early gains and is trading lower by 0.6% or Rs 17 at Rs 3,000 per barrel. The Dollar value against the Indian rupee declined 0.11% or 0.07 and is currently trading at Rs 62.60 levels.

Engineering stocks are trading mixed today. However, major companies like BHEL and Siemens are trading with losses of over 1%. Engineering bellwether, Laresn & Toubro is trading in the red despite the fact that it won an order worth Rs 21 bn from an Uttar Pradesh based company. Of the Rs 21 bn order, Rs 2.7 bn is dedicated towards building water and renewable energy business. Apart from this, other projects that are part of this project are a 242 km wastage water network and 3 water pumping stations. Rs 1.7 bn is dedicated towards building the Phase III of Barapullah Elevated Corridor in Delhi. The deadline for completing the project is 30 months.

Among the power sector Tata Power and Torrent Power are the lead gainers. Shares of TD Power gained over 6% after news of it winning an order from Diesel Locomative Works. TD Power received an order for supplying 10 traction alternators that is placed over EDM Locomatives manufactured by Diesel locomotives in the country. According to a leading financial source, this order escalates TD Power to a strategic position from where it can bid for more order nationwide.

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May 29, 2017 01:05 PM

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