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Indian markets recuperate
Fri, 5 Jun 01:30 pm

Indian Indices have recovered from early losses and are trading positive in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the Energy and Mining sectors leading the gains.

The BSE-Sensex is trading up 134 points (up 0.5%) and the NSE-Nifty is trading up 32 points (up 0.4%). The BSE Mid Cap index is trading up 0.4% and the BSE Small Cap index is trading up 0.6%. Commodity prices are trading on a negative note. Gold, per 10 grams, is trading at Rs 26,816 levels. Silver, per kilogram, is trading at Rs 37,177 levels. Crude oil is trading at Rs 3,689 per barrel. The rupee is trading at 63.91 to the US dollar.

Stocks in the mining sector are trading positive today with Ashapura Minechem and Coal India leading the gains. The stock of Coal India is witnessing increased buying on incremental production. The company's coal production in May rose by 13% as compared to corresponding period of last fiscal. It was announced that the Ministry of coal will auction linkages to Coal India's production for the span of five years. Meanwhile, the government has also announced that it will resume coal block auctions. The auction is for 10 mines with a total annual production of 13.1 million tonnes to cement, steel and aluminum companies and captive power producers. Stock of Coal India is trading up by 4.4%.

Telecom stocks are trading mixed with ADC India and MTNL witnessing maximum buying interest. As per a leading financial daily, the stock of Idea Cellular has surged nearly 3% in the morning trade. This was on the back of the company hiking mobile data charges up by 100% in the NCR (national capital region). Also the charges on 3G plans have been raised by 33%. For the fourth quarter ended March 2015, the company has reported a 66% YoY jump in its standalone net profit. The company is also planning a capex of around Rs 55 bn in the current fiscal to strengthen its infrastructure. Currently the stock of Idea Cellular is trading up by 2.6%.

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