Helping You Build Wealth With Honest Research
Since 1996. Try Now

MEMBER'S LOGINX

     
Invalid Username / Password
   
     
   
     
 
Invalid Captcha
   
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  


Indian markets trade positively
Thu, 16 Jul 11:30 am

After opening firm, the Indian markets continued to trade positively. Most sectoral indices are trading on a mixed note with stocks from the banking and energy sectors leading the gains.

The BSE-Sensex is trading up 156 points (up 0.6%) and the NSE-Nifty is trading up 47 points (up 0.6%). The S&P BSE Midcap index is trading up by 0.9% while the S&P BSE Smallcap index is trading up 0.6%. The rupee is trading at 63.52 to the US dollar.

Stocks in the automobile sector are trading on a mixed note with Force Motors and TVS Motors leading the losses. As per a leading financial daily, two-wheeler major Hero MotoCorp has reported an increase in its sales for the year 2014-15. The company has sold 6.6 million units in 2014-15 which records a 6% increase on a YoY (year-on-year) basis. The launch of 'Xtreme Sports' and 'Passion-Pro' in Jharkhand also aided this boost in performance. The new 'Xtreme Sports' as the company states, promises to offer the best power output in its class. While Passion-Pro, it reported, is one of the most popular motorcycle brands in the country with over a m units in annual sales. Currently the stock of Hero Motocorp is trading down 0.6%.

Food and Tobacco stocks are trading on a mixed note with Tata Coffee and VST Industries witnessing buying interest. According to a leading financial daily, tobacco exports have fallen in the fiscal 2014-15. This is due to the fall in global demand and record supplies with all major exporting nations. The country's tobacco exports have dropped around 9% in value terms from Rs 61 bn in 2013-14 to Rs 56 bn in 2014-15. Also, the offtake in auctions has been 58 m kg as against 105 m kg last year. The Tobacco Board has decided to reduce the flue cured virgin (FCV) crop size by one-third to 128 m kg from 172 m kg last year in this Kharif season.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


Equitymaster requests your view! Post a comment on "Indian markets trade positively". Click here!