Indian markets see-sawed between moderate and robust gains as investors await inflation figures. Markets gained as much as 150 points in the early morning trade but then fell over 100 points. Investors turned their attention towards the pharma sector which helped Indian indices close on strong note. BSE Sensex closed today's session with gained of over 165 points while NSE-Nifty closed today's session with gains of over 53 points.
Capital goods and healthcare sector was the largest recipient of funds as they each gained over 1.2%. BSE Mid Cap and BSE Small Cap stocks gained over 1% in the early session, however, retreated from session highs on profit booking. The Auto sector maintained a negative sentiment throughout the trading session.
Commodity prices continue to trade with a negative bias. While the gold prices fell 0.3% or Rs 30; silver prices fell 0.2% or Rs 128. Gold prices, per 10 grams, fell to Rs 26,700 levels while silver prices, per kilogram, fell to Rs 36,600 levels. Crude oil prices retreated from session highs. The crude oil prices fell from gains of about 2.2% to 1.5%. Per barrel, the crude oil is available at Rs 3,270 levels.
The European equities are trading on a mixed note as German equities and FTSE are trading with no movement at all. With release of major economic data during today's trading session, the markets are expected to stay flat. While German equities gained 1.27 points or 0.01%; French equities are trading with losses of 0.02% or 0.96. Euro Stoxx gained 0.2% or 6 points.
Though automobile companies have traded negative in today's trading session; heavy vehicle major Escorts gained over 3% after the company entered into a Joint Venture with Amul Group for manufacturing specialty tractor named Steeltrac. The Steeltrac is a special purpose tractor which helps farmer grows raw-crops which include groundnut, cotton and sunflower. The joint venture will help Escort grow a wider range of products to Indian farmers. Apart from Escorts, Tube Investment was up about 0.5%.