Indian stock market indices have recovered from the day's lows but are still trading in the red. Metals and Oil and Gas stocks are losing the most while those from Realty and Auto space are trading firm.
The BSE-Sensex is down by 21 points while NSE-Nifty is trading 10 points below yesterday's closing. BSE Midcap is up by 0.2% and BSE Small cap index is trading flat. The rupee is trading at 44.30 to the US dollar.
Auto stocks have been trading in the green led by Hero Honda and Tube Investments. As per a leading financial daily, Ashok Leyland plans to hike prices by 1%-2% very soon. The auto major is concerned over falling sales volumes for commercial vehicles. In the month of June, the commercial vehicles sales declined 4.63% YoY. The management has blamed this on rise in retail interest rates that have adversely impacted the demand of heavy vehicles. However, the management expects July sales volumes to be better on a month on month basis. The company plans to sell 1.07 lakh lakh units by FY-12 wherein domestic sales would stand at 95,000 units. It is in the process of launching commercial vehicles in new export markets to counter the shrinking margins in inflation-ridden domestic landscape. The management is optimistic about maintaining its FY12 margin guidance of 10-11% on expectations of increase in market share. The stock was trading in the green.
Pharma stocks have been trading weak in the last two hours of the trade. As per a leading financial daily, Wockhardt has bagged a tentative permission from USFDA for selling 20mg, 30mg and 60mg delayed release capsules of Duloxetine Hydrochloride, a medication utilized for treating depressive disorder. The overall U.S market for this tablet stands at US$ 3.3 bn. The exclusive rights covering this product are under lawsuit in US courts and it will roll out the medicine once they get resolved. The company plans to sustain its growth in the U.S market through a series of such first-to-market launches. The stock was trading in the red.
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Indian share markets end deep in the red with the Sensex down by 598 points and the Nifty ending down by 164 points.
TORRENT POWER share price is trading up by 5% and its current market price is Rs 429. The BSE POWER is up by 0.6%. The top gainers in the BSE POWER Index are TORRENT POWER (up 5.2%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.7%) and NTPC (down 1.2%).
DILIP BUILDCON share price is trading up by 8% and its current market price is Rs 719. The BSE CAPITAL GOODS is down by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are DILIP BUILDCON (up 8.5%) and BHEL (up 6.5%). The top losers are CARBORUNDUM UNIVERSAL (down 0.1%) and HINDUSTAN AERO. (down 1.8%).
BALRAMPUR CHINI share price is trading up by 10% and its current market price is Rs 213. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are BALRAMPUR CHINI (up 10.3%) and BALMER LAWRIE (up 13.6%). The top losers are DIVIS LABORATORIES and PIDILITE INDUSTRIES .
INDIAN ENERGY EXCHANGE share price is trading up by 7% and its current market price is Rs 319. The BSE POWER is up by 0.9%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE (up 6.6%) and ADANI POWER (up 9.9%). The top losers are POWER GRID (down 0.5%) and NTPC (down 0.8%).
ITD CEMENTATION INDIA share price is trading up by 8% and its current market price is Rs 93. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index are ITD CEMENTATION INDIA (up 8.5%) and INDIABULLS REAL EST (up 10.3%). The top losers are PRESTIGE ESTATES and GODREJ PROPERTIES (down 0.2%).
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