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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian Stock Markets trade flat 
(Fri, 10 Jul 11:30 am) 
 
After opening the day on a firm note, Indian stock markets have remained flat. Maximum, selling pressure is seen in FMCG sector.

The BSE-Sensex is trading up by 27 points (0.10%) and the NSE-Nifty is trading up by 5 points (0.06%). The S&P BSE Midcap index is trading up by 20 points (0.19%), while the S&P BSE Smallcap index is trading up by 16 points (0.13%). The rupee is trading at 63.40 to the US dollar. Gold and Silver are trading at Rs 26,090 per 10 grams & Rs 35,420 per kilogram respectively.

As per financial times, the International Monetary Fund (IMF) on Thursday has reaffirmed its growth forecast for India in its latest World Economic Outlook (WEO). For this, a growth of 7.5% was pegged for both 2015 and 2016. With China expected to slow down considerably, the IMF has pegged its growth at 6.8% in 2015 and 6.3% in 2016. It further stated that by this, the gap between the two countries is likely to widen to 1.2% points by 2016. Further it has also lowered its forecast for global growth. It has pegged global GDP growth at 3.3% in 2015, lower than its April outlook of 3.5%. Though in 2016, it expects growth to bounce back to 3.8%. On the whole, the IMF expects emerging markets and developing economies to slow down from 4.6% in 2014 to 4.2% in 2015.

Stocks in Banking sector are trading on a mixed note with Yes Bank trading up by 1.02% and Karur Vysya Bank trading down by 2.95%. ICICI Bank may sell its housing finance arm. ICICI Home Finance contributes about 10% of the book value of total home loans given by ICICI. The deal will require RBI approval as ICICI Home Finance is an NBFC. The bank may be expecting a valuation of around Rs 44bn. ICICI Home Finance focuses on home loans in smaller cities and has smaller ticket size. Private Equity Funds and other companies are looking at housing finance sector given the overall housing shortage in India as well as the robust growth (around 20%) seen in the past 4-5 years.

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