The market have commenced the week on a flat note owing to mixed trends in the Asian markets. Selling pressure is seen in the banking sector. Mid and small cap stocks are outperforming the benchmark indices.
The BSE-Sensex is trading down by 80 points (0.28%) and the NSE-Nifty is trading down by 29 points (0.34%). The BSE Mid Cap index is trading up by 38 points (0.33%), while the BSE Small Cap index is trading up by 29 points (0.25%). The rupee is trading at 63.55 to the US dollar. Gold and Silver are trading at Rs 24,990 per 10 grams & Rs 33,610 per kilogram respectively.
Stocks in Automobile sector are trading on a mixed note with TVS Motors leading the gainers and Tata Motors leading the losers. Tata Motors is set to launch a variety of hatchbacks, sedans and sport utility vehicles (SUVs). It had promised that to launch at least two cars every year. The company is set to launch a new hatchback and sedan in 2015-16. According to the leading news daily, the upcoming hatchback 'Kite' is scheduled for launch in this festive season. It would be positioned between Nano and Bolt. The 'Kite' design is expected to be different from that of the Indica and Indigo. The stock of Tata Motors is down by 1.1%.
Stocks in Power sector are trading on a mixed note with Calcutta Electric Supply Company (CESC) leading the gainers and Adani Power leading the losers. According to the Central Electricity Authority (CEA) the plant load factor (PLF) slipped to 59.43% in June 2015 from 68.01% in the same month in a year ago period. The power generation is running below capacity due to the dismal state of State Electricity Boards (SEBs). The SEBs has accumulated losses of Rs 2,510 bn and cumulatively make loses of Rs 700 bn every year and have no resources to purchase electricity. No state has signed new power purchase agreements since 2013.