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Markets rebound in the last hour
Wed, 22 Apr Closing

After trading in the negative territory during post noon session, the Indian equity markets gathered steam in the last hour of trade and closed the day on a firm note. While the BSE Sensex today closed higher by 214 points, the NSE-Nifty closed higher by 52 points. However, Midcaps and Smallcaps closed flat today. While the BSE Mid Cap index was up by 0.38% the BSE Small Cap index closed lower by 0.04%. Capital goods and healthcare stocks were the biggest gainers today. However, IT stocks ended the day in the red.

As regards global markets, Asian pack closed mixed today. The rupee was trading at Rs 62.91 odd levels to the dollar at the time of writing.

Auto stocks have ended the day on a strong note. As per news reports, M&M inaugurated its manufacturing facility in Telangana today. The new facility (extension at existing plant) which cost Rs 2.5 bn will be used to manufacture M&M's new small commercial vehicle, P601, about to be launched in 1HFY16. The facility has installed capacity of 92,000 units and can be expanded to meet additional demand. Apart from this plant at Telangana, M&M has 5 other auto manufacturing plants as well.

FMCG stocks ended mixed today. Cigarette major ITC is in talks with Century Textiles to buy its paper division. This is largely seen as a step to diversify its non-core tobacco business. There is not much information as yet since the deal isn't public. However, as per news reports Axis Bank is advising Century Textiles over the proposed sell off.

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