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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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India Markets extend Gains 
(Wed, 8 Apr 01:30 pm) 
 
Indian markets extended their gains as BSE-Sensex gained over 200 points while NSE-Nifty gained over 70 points by mid-session. All the sectoral indices are trading in the green; however, maximum strength is seen in Consumer Durables sector and PSU companies. S&P BSE Midcap and S&P BSE Smallcap companies have outperformed today's movement. While the midcap companies have gained nearly 1%, smallcap companies have gained nearly 2%. Healthcare sector which was the epicenter of investor attention since last 2 trading days is facing selling pressure amidst today's rally. Banks turned red as RBI failed to meet investor expectation of interest rate cuts.

Commodities are trading with slight positive movement. While the gold prices have increase marginally by 0.02% or Rs 5, silver prices have increased moderately by 0.11% or Rs 43. Gold price, per 10 grams, is trading at Rs 26, 880 while silver price, per kilogram, is trading at Rs 37,700. Crude oil prices are trading with moderate losses of 0.4% or Rs 12 at Rs 3,313 level. Dollar traded with moderate strength as it gained about 0.1% or 0.04 against the Indian Rupee. The Indian Rupee is trading at Rs 62.29 against the U.S Dollar.

The infrastructure projects in the country are witnessing a revival. Recently Larsen & Toubro received as much as 4 projects from the National Highway Authority of India. Supreme Infrastructure won a project worth Rs 2.07 bn from the National Highway Authority of India. The project work includes 4 Laning of Kharar-Kurali section of NH-21 in Punjab. According to a leading financial daily, there is a clause which empowers the company to receive interest free advance payment from NHAI to the tune of 10% of the contract price. The stock is trading up by 2%.

Investor sentiment towards Coal India Limited received a major boost when the Government of India lifted the limitations placed on e-auction. With the limitations on e-auction removed, Coal India will be in a position to increase its e-auction volumes to 10% of the total sales. The auctioning of coal blocks had recently touched Rs 4,000 bn with various cement and metal companies bidding for strategic coal blocks. Post these developments, shares of Coal India gained over 5%.

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