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Indian equity markets open in green
Wed, 4 Jul 09:30 am

Barring Taiwan (down 0.1%), all the other Asian equity markets have opened the day on a positive note with indices in Japan (0.4%) and Indonesia (up 0.8%) leading the gains in the region. The Indian equity market indices have also opened the day on positive note as well. Barring Oil and gas, all sectoral indices were trading in the green with metal and Auto sector witnessing maximum gains.

The Sensex today is up by around 66 points (0.4%) and the NSE-Nifty is up by around 16 points (0.3%). Both Mid cap and Small Cap stocks are trading in the green as well with the BSE Mid Cap and BSE Small Cap indices up by around 0.6% and 0.4% respectively. The rupee is trading at Rs 54.51 to the US dollar.

Cement stocks are mainly trading in the green with JK Lakshmi Cement Ltd. and Heidelberg Cement (I) leading the pack of gainers while Samruddhi Cement and Mangalam Cement are trading weak. The key domestic cement companies have announced cement production figures for the month of June. ACC Ltd. has reported a jump of 4.2% on a year on year (YoY) basis for the month of June. The company's dispatches were also up by 2.6% YoY. On a cumulative basis, the production for first six months of calendar year 2012 was up by 5.6% YoY and dispatches grew by 5% YoY. Ambuja cement has recorded a growth of 7.9% YoY and 7.3% in the production and dispatches respectively for the month of June. For the first half year, the growth in the production and dispatches stood at 8.2% and 8.4% YoY respectively.

Engineering stocks have opened the day on a mixed note with Ingersoll Rand Ltd. and Everest Kanto Cylinder leading the pack of gainers while Alstom T&D and Blue Star were trading weak. As per latest data from market researcher GfK-Nielsen India, Voltas Ltd has piped LG in the Indian air-conditioner market. The Korean giant had dominated the leadership position in the white goods segment for over a decade. In May 2012, while Voltas' volume market share in multi-brand outlets (MBOs) of AC dealerships stood at 18.3% while that of LG declined to 17.7%. A year ago in July 2011, LG was the market leader with 22.6% share. It must be noted that MBOs are the chief sales channel, accounting for about 90% of the AC dealerships. Voltas has attributed its robust performance to price competitiveness, a strong position in the window AC market and product innovations like an all-weather AC. On this innovation, the company had spent significant marketing resources to break through the clutter.

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