After opening the day on a positive note, the Indian Indices are trading higher in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the pharma and auto sectors leading the gains.
The BSE-Sensex is trading up 168 points (up 0.6%) and the NSE-Nifty is trading up 34 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 prices, per 10 grams, are trading at Rs 26,818 levels. Crude prices are trading at Rs 3,835 levels. The Silver price, per kilogram is trading at Rs 36,591 levels. The rupee is trading at 64.07 to the US dollar.
Food and Tobacco stocks are trading on a mixed note with Wadala Commodities and Britannia witnessing maximum buying interest. As per a leading financial times, ITC Ltd is reportedly planning to invest Rs 80 bn in Telangana. Out of this Rs 45 bn will be invested in expanding its paperboard capacity by one million tonnes. Currently the firm has a capacity of five lakh tonnes for the same at Bhadrachalam. Further, the company is going to set up Rs 8 bn food processing facility in Medak district as well as an Rs 10 bn hotel in Hyderabad. At the time of writing, stock of ITC was trading up by 1%.
Stocks in the energy sector are trading on a mixed note with Cairn India and Essar Oil leading the gains. As per a leading financial daily, Oil and Natural Gas Corporation (ONGC) has undertaken hydro-fracturing in Khubal for accessing the actual reserves of the field and in Baramura to enhance production from tight sands. The company stated that it has completed drilling of seven exploratory-cum-appraisal wells out of which 2 are gasses bearing. The company is in the opinion that the results of the post-activation jobs in these wells would provide a lead in assessing the reservoirs and way forward for the effective stimulation of these structures. Currently the stock of ONGC is trading up by 1.6%.