Profit booking towards the end of today's trading session led the Indian markets to cut their morning gains and fall below the dotted line towards the end. The BSE-Sensex closed lower by about 75 points, while the NSE-Nifty ended lower by about 8 points. The BSE Mid Cap and BSE Small Cap indices on the other hand ended the day on a strong note up by about 0.5% and 0.6% respectively. Stocks from the FMCG and IT spaces were amongst the least preferred ones today.
European stock markets opened slightly higher today. Meanwhile, Asian markets finished mixed. The Nikkei 225 gained 1% while the Shanghai Composite ended down by 3.5%. The Indian rupee was trading lower by 7 paise at 63.53 against the US dollar.
According to a leading financial daily, State Bank of India (SBI), the country's largest public sector bank, has signed a Memorandum of Understanding (MoU) with online travel company MakeMyTrip.com. This strategic association will allow both partners to capitalize on the opportunity presented by India's burgeoning internet economy that is driven by boost in adoption of e-commerce and m-commerce. The alliance includes partnership with personal banking unit for consumer facing propositions - including EMIs on purchase of holidays & international travel, customized travel products like Forex cards and other travel products that inspire SBI customers to travel.
Maruti Suzuki India, country's largest car maker, has reported a rise of 1.8% in its total car sales (Domestic + Export) for the month of June 2015 at 114,756 units, as against 112,773 units in June 2014. The company's domestic sales rose by 1.6% in June 2015 at 102,626 units, as against 100,964 units in corresponding month last year. Of the total, the company has sold 86,630 units of its passenger cars during last month, up by 0.5% as against 86,223 units in June 2014. The company's sales of vans have increased by 7.5% to 10,465 units as against 9,738 units in June 2014. Moreover, the company's sales of its utility vehicles rose by 10.6% to 5,531 units from 5,003 units in June 2014. Moreover, the company's exports have increased by 2.7% to 12,130 units as against 11,109 units in June 2014.