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Markets will remain closed on May 13, 2021 on account of Id-Ul-Fitr (Ramzan Id).

Indian market indices open weak
Fri, 1 Jun 09:30 am

Asian stock markets have opened the day on a mixed note with stock markets in Taiwan (down 1.4%), Japan (down 0.7%) and Singapore (down 0.6%) leading the losses in the region. However, markets in China (up 0.4%) and Hong Kong (up 0.2%) are trading firm. The Indian equity market indices have also opened the day on a negative note. Stocks in the IT space are leading the pack of losers. However, consumer durables and banking stocks are trading in the green.

The Sensex today is down by around 19 points (0.1%), while the NSE-Nifty is down by around 5 points (0.1%). However, mid and small cap stocks are trading in the green with the BSE Mid cap and BSE Small cap indices up by around 0.1% and 0.2% respectively. The rupee is trading at Rs 56.01 to the US dollar.

Auto stocks have opened the day on a mixed note with Tata Motors and Eicher Motor trading firm. However, Maharashtra Scooters, Bajaj Auto and Hero MotoCorp are facing selling pressure. Despite fears of slowdown in the auto industry, India's largest utility vehicle maker Mahindra & Mahindra (M&M) seems to be bullish on the growth front. It expects sales to grow by 10-12% in the financial year 2012-13 (FY13). However, the company rang the caution bell as far as the tractor segment is concerned. From earlier forecasts of 10-12% growth, it has lowered its growth expectations in this segment to 5-6%. The company is planning to launch 6 new models in the current fiscal, though it has not disclosed details pertaining to the new models and their launch dates yet. Over the next three fiscals, M&M has chalked out capital allocation of Rs 50 bn. In addition, the company would invest another Rs 25 bn in group companies over the same period.

Mining stocks have opened the day on a mixed note as well with National Mineral Development Corporation (NMDC), and MOIL Ltd trading firm. However, Sesa Goa Ltd and Coal India Ltd (CIL) are facing selling pressure. As per a leading financial daily, CIL has written a letter to Coal Ministry informing it of its decision to exit International Coal Ventures Limited (ICVL) consortium, a special purpose vehicle (SPV) that was incorporated in 2009 to acquire coal mines overseas. ICVL is a joint venture (JV) between Steel Authority of India Ltd. (SAIL), CIL, NMDC and National Thermal Power Corporation (NTPC). CIL has a 28% stake in the JV. As per industry sources the Board has decided to exit ICVL as it involved too much financial burden without commensurate advantage. ICVL has not made any success since its incorporation. NTPC is also willing to walk out of the consortium.

In a separate development, CIL has decided to increase prices of coal produced by its subsidiaries- Western Coalfields (WCL) and Eastern Coalfields (ECL). The move aims to compensate ECL and WCL for an adverse impact of new system of grading coal based on gross calorific value (GCV). The move will increase prices and add to the revenues.

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Stock Market Updates

Sensex Trades Over 300 Points Lower, Dow Futures Down by 128 Points (Today's Market)

May 12, 2021 12:30 pm

BSE Sensex is trading down by 328 points, while the NSE Nifty is trading down by 89 points.

GODREJ AGROVET Share Price Up by 9%; BSE FMCG Index Down 0.1% (Today's Market)

May 12, 2021 12:14 PM

GODREJ AGROVET share price is trading up by 9% and its current market price is Rs 577. The BSE FMCG is down by 0.1%. The top gainers in the BSE FMCG Index are GODREJ AGROVET (up 8.5%) and GSK CONSUMER (up 5.1%). The top losers are GILLETTE INDIA (down 0.2%) and ITC (down 0.2%).

Sensex Dips 300 Points, Nifty Falls Below 14,800; Godrej Consumer Zooms 10% (Today's Market)

May 12, 2021 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 325 points, while the Nifty is trading lower by 84 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 0.7% (Today's Market)

May 12, 2021 09:36 AM

SIEMENS share price has hit an all time high at Rs 2,096 (up 7.5%). The BSE CAPITAL GOODS Index is up by 0.7%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 7.5%) and HONEYWELL AUTOMATION (up 0.1%). The top losers include CARBORUNDUM UNIVERSAL (down 0.1%) and SCHAEFFLER INDIA (down 0.4%).

CADILA HEALTHCARE at All Time High; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:36 AM

CADILA HEALTHCARE share price has hit an all time high at Rs 640 (up 1.1%). The BSE HEALTHCARE Index is down by 0.1%. Among the top gainers in the BSE HEALTHCARE Index today are CADILA HEALTHCARE (up 1.1%) and ABBOTT INDIA . The top losers include TORRENT PHARMA (down 0.1%) and SANOFI INDIA (down 0.1%).

BLISS GVS PHARMA Share Price Down by 6%; BSE HEALTHCARE Index Down 0.1% (Today's Market)

May 12, 2021 09:34 AM

BLISS GVS PHARMA share price is trading down by 6% and its current market price is Rs 124. The BSE HEALTHCARE is down by 0.1%. The top gainers in the BSE HEALTHCARE Index are SUN PHARMA ADV. RES. (up 2.0%) and AJANTA PHARMA (up 1.9%). The top losers are BLISS GVS PHARMA (down 5.6%) and DISHMAN CARBOGEN AMCIS (down 7.8%).

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