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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Indian markets volatile 
(Fri, 10 Jul 01:30 pm) 
 
Indian Indices are trading slight above the dotted line in the post noon trading session. Sectoral indices are trading mixed with stocks from the mining and pharma sectors leading the gainers. However, telecom stocks are witnessing maximum selling pressure.

The BSE-Sensex is trading up 53 points (up 0.2%) and the NSE-Nifty is trading up 15 points (up 0.2%). The BSE Mid Cap index and the BSE Small Cap index are trading with marginal gains, both up by 0.3%. Commodity prices are trading on a positive note. Gold prices, per 10 grams, are trading at Rs 26,107 levels. Silver price, per kilogram is trading at Rs 35,410 levels. Crude oil is trading at Rs 3,409 per barrel. The rupee is trading at 63.38 to the US dollar.

Stocks in the steel sector are trading mixed with Bhushan Steel and Adhunik Metaliks witnessing buying interest. As reported in a financial daily, Tata Steel and JSW Steel have been ranked as the most heavily indebted companies in the segment across the globe. This was because of their stretched balance sheet in somewhat persistently hostile business. Mostly the increase in net debt levels of these companies have generally been driven by capacity expansion programs over the past five years, most of which are going to be commissioned in the next 12 months. For this, as on end-March, Tata Steel showed a consolidated net debt of Rs 690 bn. The company has taken timely non-cash impairment charges, sold non-core assets and even refinanced its loans. Currently the stock of Tata Steel is trading marginally up.

Software stocks are also trading mixed with NIIT Ltd and TCS leading the losses. As per financial times, information technology major Wipro has announced its plans to acquire Designit, a Denmark-based global strategic design firm. This is in line with the company's strategy to tap opportunities in the digital space. The deal is finalized for Rs 59.5 bn with a component of deferred payment to be payable through the next three years upon the acquired entity achieving certain milestones. The acquisition is expected to strengthen Wipro Digital, the company's digital business unit which has been set up in March this year. Stock of Wipro is currently trading up by 1%.

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Jul 21, 2017 (Close)

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