Indian share markets pared initial gains and traded marginally above the dotted line in the post-noon trading session. The sectoral indices are trading mixed with banking, metal and auto stocks leading the gains whereas IT, FMCG and consumer durables stocks are among the major losers.
BSE-Sensex is up 7 points and NSE-Nifty is trading up 21 points. While BSE Mid Cap is up 0.2%, BSE Small Cap index is trading up by 0.3%. The rupee is trading at 54.5 to the US dollar.
Majority of the engineering stocks are trading in the green with Opto Circuits and Punj Lloyd being the biggest gainers. However, Manugraph India and Bharat Electricals are among the leading losers. As per a leading financial daily, Swedish engineering company ABB has said that it will continue to invest $ 100 m annually like it did in the past five years, even as power equipment companies in the Indian market are facing tough times. The company has said that it is looking at the next stage of growth when the Indian market turns around through the right policies. The company is utilizing this period to improve and expand its factories, increase product range, automate lines and build new factories. ABB's upcoming factory in Savli near Vadodara for new gas-insulated switchgear will be commissioned by 2013-end. The company is also commissioning a new factory for dry transformers at Savli and is also expanding existing facilities at Bangalore and Nelamangala. ABB offers solutions in the entire value chain beginning from mining equipment automation to optimization of generation to energy efficiency. The company is looking at opportunities in new areas such as renewable energy, metro projects and data centres of telecom and IT sectors. ABB stock is marginally up.
Most of the steel stocks are trading in green with Taya Rolls and Maharashtar Seamless being the major gainers. According to data compiled by Joint Plant Committee, steel consumption in the country registered a growth of mere 3.3% to 73.3 m tonnes in FY13. The growth has been impacted by the slowdown in the economy and is in fact the slowest in the past three years. Total steel production during the year grew by 2.5% to 75.5 m tonnes.
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Indian share markets end deep in the red with the Sensex down by 598 points and the Nifty ending down by 164 points.
TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).
DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).
BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .
INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).
ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).
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