Global equities continued to trade with volatility in the midst of brewing Greek crisis and a rate cut offered by the Chinese policy makers to kick-start the ailing economy. European indices fell as much as over 2% while the US markets fell as much as over 1% on the last trading day of the weak gone by. The Asian stock markets have opened on a mixed note. While the Taiwan stocks is trading marginally in the red, and Hong Kong markets trading marginally in the green; Chinese stocks gained as much as 1% .
Commodities have gained traction as investors shunned equities after a sell-off in the healthcare sector and IT stocks' disappointing results. Gold price, per 10 grams, increased 0.6% or Rs 167 while silver prices declined, per kilogram, marginally by 0.09% or Rs 32. Currently, gold is trading at Rs 26,800 while silver at Rs 36,450 levels. Crude oil prices, per barrel, declined 1.6% or Rs 58; currently is available at Rs 3,600 levels. The Indian Rupee gained 0.23% or 0.14 and is available at Rs 62.51.
Shares of electrical equipment company, Crompton Greaves, gained over 1% after Advent International disclosed its intention of buying consumer product business of Crompton Greaves. The US Company will be buying the consumer product business for an amount of $350 mn. According to a leading financial source, both the companies are on an advanced stage and the deal will be announced soon. As per the deal, Advent International will hold about 65% - 70% of the consumer business.