The major Asian stock markets have opened the day in green with China market (up 1.8%) and Japan market (up 1.2%), leading the gainers. The Indian markets have also opened strong. Barring realty and power, all the sectoral indices are trading in the green. Stocks from pharma and capital goods are witnessing maximum buying interest.
BSE-Sensex is currently trading higher by 116 points (up 0.41%), while the NSE-Nifty is higher by about 33 points (up 0.38%). The S&P BSE Midcap has also opened the day in green, up by 0.37% and S&P BSE Smallcap has opened firm, up by 0.58%. The rupee is trading at Rs 62.28 to the dollar.
As per data from Centre from Monitoring Indian Economy (CMIE), capital investment announcements in FY15 were up by 80% YoY to Rs 9.9 trillion. This is the highest in the last four financial years, indicating a recovery in the investment climate in the country. Even the private sector has seen a pick-up in capital investments. In the March 2015 quarter, the private sector's share in overall new investment announcements rose to 75% as against a share of 46% in the preceding two quarters. Out of the total of 449 projects announced in the March quarter, 226 projects valued at Rs 1.5 trillion were proposed by the private sector. It is worth noting that a major share of around 40% of the new investments have been announced in the state of Gujarat.
Engineering stocks are trading mixed with Engineers India and ABB being the major gainers. However, Sanghvi Mover and Punj Llloyd are among the biggest losers. Bharat Heavy Electricals (BHEL) has declared provisional numbers for the financial year 2014-15. As per the tentative financial results, the net profit for FY15 are down by 62% year on year(YoY) basis. The revenues for the year are also down by 23.6% YoY as per the flash results. The order inflow during the year is up 10 % YoY as per the flash results. The stock of BHEL has opened in the red, down 1.4%