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Indian markets trade in the red
Thu, 23 Jul 01:30 pm

Indian Indices are trading negative in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the steel and telecom sectors leading the losses.

The BSE-Sensex is trading down by 43 (down 0.2%) and the NSE-Nifty is trading down by 20 points (down 0.2%). The BSE Mid Cap index is trading marginally up while the BSE Small Cap index is trading up by 0.7%. Gold price, per 10 grams, is trading at Rs 24,845 level. Silver price, per kilogram, is trading at Rs 34,244 level. Crude oil is trading at Rs 3,162 per barrel. The rupee is trading at 63.66 to the US dollar.

Stocks in the automobile sector are trading mixed with Bajaj Auto and Eicher Motors leading the losses. As per a leading financial daily, Mahindra & Mahindra (M&M), India's largest utility maker, has launched a new version of its lifestyle off-road vehicle Thar. This version is priced at Rs 8.03 lakh ex-showroom and will be made available in only select markets. The company in order to improve its off road capability has also introduced mechanical locking rear differential technology. This technology engages automatically without driver's intervention. Thar is available in a BS IV variant with power steering as a standard fitment. Presently the stock of M&M is trading up by 1.4%.

Pharma stocks are trading on a mixed note with Divis Laboratories and Dr. Reddys Lab witnessing buying interest. According to financial times, Sun Pharma is in the process of integrating Ranbaxy, which it had acquired from Japan's Daiichi Sankyo earlier this year. It is also going to overhaul the combined global operations of the said company. This new plan is carried on to utilize the Paonta Sahib facility for supplies to the World Health Organization and other markets like Europe and Australia. Currently the stock of Sun Pharma is trading marginally down.

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