After opening the day on a marginal note, the Indian Indices are trading positively in the post noon trading session. Sectoral indices are trading mixed with stocks from the mining and pharma sectors leading the gainers.
The BSE-Sensex is trading up 89 points (up 0.3%) and the NSE-Nifty is trading up 31 points (up 0.4%). The BSE Mid Cap index is trading up 0.2% and the BSE Small Cap index is trading up 0.4%. Gold prices, per 10 grams, are trading at Rs 26,767 levels. Silver price, per kilogram is trading at Rs 36,602 levels. Crude oil is trading in green at Rs 3,848 per barrel. The rupee is trading at 63.53 to the US dollar.
Stocks in the pharma space are trading on a mixed note with Orchid Chemicals and Panacea Biotech witnessing maximum buying interest. India based pharmaceutical company; Lupin Ltd today declared that its Board of Directors has given in-principle approval for raising funds of up to Rs 75 bn. This raising of funds will be by way of issue of securities i.e. equity shares, ADRs, GDRs, convertible bonds, equity linked instruments etc. For the purpose, enabling approval of the shareholders will be sought at the AGM to be held on July 23. Meanwhile, w.e.f. 22 June, 2015 stock of Lupin Ltd has become a part of the BSE's 30-share benchmark Sensex. Currently the stock of Lupin Ltd is trading down by 1.8%.
Most of the stocks in banking sector are trading on a positive note with Union Bank and Punjab National Bank witnessing maximum buying interest. As per a leading financial daily, shares of Public Sector Undertaking (PSU) Banks are trading higher by around 5%. This was after the Finance Minister Arun Jaitely said that the government will infuse capital in public sector banks in the next three to six months. As the PTI report suggests, Arun Jaitely has earmarked Rs 79.4 bn in the Budget for recapitalization of public sector banks (PSBs) during the current financial year. Subsequent to the announcement, stocks of Union Bank of India, Punjab National Bank, Bank of Baroda, Syndicate Bank and Oriental Bank of Commerce have surged between 3-5% on the National Stock Exchange (NSE).