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Mid, small caps lead the gainers
Wed, 16 Jul 01:30 pm

Indian stock markets gained momentum and is trading at the day's high led by strong buying among the index heavyweights. Barring FMCG sector, almost all sectoral indices are trading in the green led by heavy buying in the realty and banking stocks.

The BSE-Sensex is trading up by 105 points and the NSE-Nifty is trading up 37 points. The BSE Mid Cap index is trading up 1% and the BSE Small Cap index is trading up 1.6% today. The rupee is trading at 60.19 to the US dollar.

Auto stocks are trading mixed today. Force Motors and TVS Motors are leading the pack of gainers, whereas Bajaj Auto is trading in the red. As per a leading business daily, Ashok Leyland, a market leader in the staff transport solution category in Saudi Arabia, is planning to launch the 2015 model vehicles in the country this month. The new products include the Falcon 56-seater AC school bus, Partner (6 tonne) and Boss (9 to 12 tonne) range of vehicles. During the current year the company has achieved excellent sales in the first half and it expects to achieve phenomenal growth in the region this fiscal. The company has established itself as a primary choice of vehicles not only for commercial transport but also in the school and staff transportation segments. Its vehicles are well received in the region for their quality, low maintenance & operational costs as well as after sales network.

Power stocks are trading mixed. Jaiprakash Power is trading firm, while NTPC is in the red. As per a leading business daily, NTPC expects the price of electricity to go up in the coming fiscal as a result of hike in the fuel costs. Coal, the principal fuel for generation of electricity in India, is expected to rise in the price on account of current environment policy framework given by the Union Budget. As such the increased cess, rationalization of import duties will push upward the price of coal. However, as per the CERC order it will be at the end of producer to take a hit or to pass on the tariff increase to the end consumers. As a result, NTPC wants a coal regulator to be formed in order to have a transparency coal pricing.

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