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Indian markets trade negatively
Thu, 23 Jul 11:30 am

After opening the day in the green Indian Indices lost their momentum and are presently trading on a negative note. Sectoral indices are trading mixed with stocks from the pharma sector among the top gainers while steel stocks are witnessing maximum selling pressure.

The BSE-Sensex is trading down 98 points (down 0.35%) and the NSE-Nifty is trading down 35 points (down 0.41%). The S&P BSE Midcap index is trading marginally lower and the S&P BSE Smallcap index is trading up 0.6%. The rupee is trading at 63.72 to the US dollar.

Stocks in the telecom sector are trading mixed with ITI Ltd and Bharti Airtel leading the losses. As per financial times, Bharti Infratel has reported its results for the first quarter ended June 30, 2015. The company's sales have risen 6% YoY. The operating performance was better. The operating profit was up 10% YoY. The net profit was up 24%. Presently the stock of Bharti Infratel is trading up by 0.2%.

Power stocks are trading on a mixed note with Torrent Power and Jaiprakash Power leading the gainers. According to a leading financial daily, Tata Power Delhi Distribution (TPDLL), a joint venture (JV) of Tata Power and the Government of Delhi has commissioned its maiden 66 KV gas insulated switchgear (GIS) sub-station at Prashant Vihar, Rohini. The new sub-station has two power transformers and will cater to the demand of surrounding areas. Currently the stock of Tata Power is trading down by 0.6%.

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