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Indian markets trade negatively
Tue, 14 Jul 01:30 pm

Indian indices are trading on a negative in the post noon trading session. Sectoral indices are trading mixed with stocks from the mining and pharma sectors leading the gains. However, aluminum stocks are trading in the red.

The BSE-Sensex is trading down by 66 (down 0.3%) and the NSE-Nifty is trading down by 16 points (down 0.2%). The BSE Mid Cap index and the BSE Small Cap index are trading up by 0.4% and 0.65 respectively. Gold prices, per 10 grams, are trading at Rs 25,972 levels. Silver price, per kilogram, is trading at Rs 35,285 levels. Crude oil is trading at Rs 3,258 per barrel. The rupee is trading at 63.49 to the US dollar.

Stocks in the software space are trading on a mixed note with NIIT Ltd and Mphasis Ltd leading the gains. As per financial times, HCL Technologies has entered into a definitive asset purchase agreement to acquire certain assets of privately held Trygstad Technical Services. Trygstad Technical Services Inc is a niche company with deep expertise in the areas of core engineering (including operating systems), Internet Of Things (loT), Embedded Systems and Intelligent Systems. This will be an all cash deal with the said US based provider of IT consulting services. With this strategic acquisition, HCL aims to enhance its ability to provide additional value and turnkey solutions to ecosystems of large Independent Software Vendors (ISVs). Stock of HCL Technologies is currently trading marginally up.

Banking stocks are also trading mixed with Dhanlaxmi Bank and South India Bank witnessing selling pressure. According to a leading financial daily, private sector lender Axis Bank has said that it is expecting a loan growth in financial year 2016. The company stated that it expects a 12% to 14% growth in FY16 on the back of economic and investment recovery. Further, the bank is also expecting a deposit growth in the range of 12% to 13% for the same fiscal. The bank had recorded a loan growth of 22% while total deposits for the company increased by 15% for the fiscal ended March 2015. At the end of March 2015, total advances stood at Rs 2,810 bn while total deposits were reported at Rs 3,224 bn. Stock of Axis Bank is trading marginally, up by 0.2%.

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Jan 18, 2018 (Close)