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Stock markets surge upwards
Wed, 1 Jul 11:30 am

The Indian stock market indices have surged upwards on positive macroeconomic data. The core sector index - which measures the output of eight key infrastructure-related industries of coal, crude oil, electricity, natural gas, refinery products, fertilisers, steel and cement rose 4.4% in May. Buying interest is highest in capital goods stocks.

The BSE-Sensex is trading up by 207 points (0.75%) and the NSE-Nifty is trading up by 70 points (0.83%). The BSE Mid Cap index is trading up by 136 points (1.27%), while the BSE Small Cap index is trading up by 145 points (1.31%). The rupee is trading at 63.62 to the US dollar. Gold and Silver are trading at Rs 26,504 per 10 grams & Rs 35,550 per kilogram respectively.

Stocks in Automobiles sector are trading on a positive note with Eicher Motors and Ashok Leyland leading the winners. Hero MotoCorp on Tuesday launched a new version of its premium motorcycle 'Xtreme Sports'. The launch has been made to regain the market share in the premium segment. The volumes in the premium segment have declined by 9.23% in FY 15. The company has made efforts to improve the style quotient by modifying the headlamp with twin LED pilot lamps and winkers and has provided a new digital analog console which improves the instrument cluster visibility. It is also equipped with tubeless tyres which would enhance the safety of the rider. The company is set to roll out a big mutli-media campaign with actor Ranbir Kapoor as its brand ambassador to promote the product. Hero MotoCorp is trading down by 0.5%.

Stocks in FMCG sector are trading on a positive note with Emami and Pidilite industries leading the winners. The Bombay High Court in its order on Tuesday granted permission to Nestle to export its 'Maggi' brand of noodles. The Food Safety and Standard Authority of India (FSSAI) had banned the production, processing, import, distribution and sale of the 'Maggi' noodles in the country. The ban was imposed as excessive level of lead in the product. Nestle is trading up by 0.2%.

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