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Strong start to the week
Mon, 22 Jun Closing

Indian markets continued to rally upwards during the last hours of trade. The Sensex ended higher by 414 points or 1.5%, while the NSE-Nifty closed higher by 128 points or 1.6%. Sectoral indices closed the day on a mixed note with Banking and Power stocks leading the gains. The BSE Mid Cap index ended higher by 1.5%, while the BSE Small Cap index ended up by 1.4%.

At the time of writing, the Indian Rupee was trading at 63.52 to the US dollar. Stocks in Europe were trading in the green at the time of writing, while Asian stocks were trading mixed.

Stocks in the automobile sector are trading on a mixed note with Maharashtra Scooters and Escorts witnessing maximum buying interest. As per a leading financial daily, Maruti Suzuki has sold 22,595 units of Alto, the mini car, for the month of May. This is a jump of 30.5% over the year ago period. With this, Alto has emerged as the country's top selling car for a fifth straight month. This was supported by a strong demand in rural areas. On a separate note, from the top ten passenger cars, six representatives were from Maruti Suzuki. Rival Honda's sedan city was placed at seventh position. The stock of Maruti Suzuki ended up by 0.9%.

Engineering stocks are also trading mixed with Jyoti Structure and Shanthi Gears bearing the maximum brunt of profit booking. Air-conditioning and commercial refrigeration major, Blue Star has launched the next generation, 100% inverter variable refrigerant flow (VRF) air-conditioning (AC) system named Blue Star VRF IV Plus. After this announcement the stock of the company surged in today's trade. Also backed by the confidence in this product, the company is planning to increase its exports by three-fold by 2018. The stock of Blue Star ended up by 1.2%.

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