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Indian markets trade positively
Wed, 15 Jul 11:30 am

After opening the day on a firm note, the Indian Markets continued to trade positively. Sectoral indices are trading on an encouraging note with auto, pharma, software and engineering stocks leading the gainers.

The BSE-Sensex is trading up 234 points (up 0.8%) and the NSE-Nifty is trading up 64 points (up 0.8%). The S&P BSE Midcap index is trading up by 0.4% while the S&P BSE Smallcap index is trading up by 0.8%. On the commodity front, gold prices, per 10 grams, are trading at Rs 25,925 levels. Silver price, per kilogram is trading at Rs 35,050 levels. Per barrel crude oil is trading at Rs 3,373. The rupee is trading at 63.39 to the US dollar.

Most of the stocks in the automobile sector are trading positively. As per financial times, Tata Motors has inaugurated a new dealership 'Prerana Motors Regio' by establishing a state-of-the-art commercial vehicle 3S facility. This has been set up at Tumkur in state of Karnataka and will provide customers with a complete experience of sales, service and spares, all under one roof. Further, two more 3S facilities are developed in Davangere and Chitradurga. Each of these facilities are strategically located and well managed by highly trained manpower and sophisticated tools and equipment for faster turnaround. The service facility can attend up to 50 vehicles a day with about 22 bays. Currently the stock of Tata Motors is trading up by 1%.

Mining stocks are trading mixed with MMTC Ltd and Ashapura Minechem leading the losses. As per a leading financial daily, Coal India has decided to relinquish about three-fourths of a coal mine which was allotted to it in Mozambique. Coal India Africana Limitada, a 100% subsidiary of CIL, was allotted two leasehold licenses for extraction of coal about 224 square kilometers (sq km) in Tete province of Mozambique. Out of this, the company board has approved retaining 54 sq km of leasehold license area which will be of actual interest with a coal bearing horizon occurring within a 500-metre depth. The remaining 170 sq km area will be relinquished by the company. Stock of Coal India is trading up by 1%.

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