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Markets trade near the dotted line
Thu, 2 Jul 01:30 pm

Indian IndicesIndian indices continued to trade near the dotted line in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the telecom and auto sectors leading the gains.

The BSE-Sensex is trading marginally up by 13 points (up 0.07%) and the NSE-Nifty is trading up by 10 points (up 0.1%). The BSE Mid Cap index and the BSE Small Cap index are trading positively, up by 0.7% and 0.8% respectively. Commodity prices are trading on a negative note. Gold prices, per 10 grams, are trading at Rs 26,265 levels. Silver price, per kilogram, is trading at Rs 35,230 levels. Crude oil is trading at Rs 3,643 per barrel. The rupee is trading at 63.57 to the US dollar.

Stocks in the mining space are trading mixed with Hindustan Zinc and Coal India witnessing maximum selling pressure. As per a leading financial daily, Coal India, the world's largest miner of dry fuel, has recorded an output of 121.33 million tonnes (MT) for the quarter April-June 2015. This recorded a growth of 12% for the miner as against the same period last fiscal. The company has achieved 99% of its target during the period. However it missed its June target by about 2 million tonnes, producing 38.83 MT of coal as against the target of 40.73 MT. Also the total off-take for the month of June stood at 42.18 MT as against a target of 43.45 MT. On a separate note, the Centre has announced plans to boost Coal India's production to the level of 1 billion tonnes by 2019 to meet the growing fuel demand. Stock of Coal India is currently trading down by 1%.

Most of the automobile stocks are trading on an encouraging note with Escorts and TVS Motors leading the gainers. Bajaj Auto, the second largest motorcycle manufacturer, has registered its total sales at 3,31,317 units in June 2015, representing a YoY (year-on-year) growth of 8%. This recorded the highest sales for the company in the past nine months. The sales for motorcycles increased by 10% on a YoY basis and stood at 2,87,582 units in the month under review. Moreover, the company reported 1% rise in commercial vehicles sales, which stood at 43,735 units as compared to 43,263 units in the same period for last fiscal. The company's total exports out of the total sales stood at 1,56,074 units, recording a YoY rise of 16%. Currently the stock is trading at Rs 2,570 levels, up by 1.8%.

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