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Indian markets remain buoyant
Tue, 28 Jul 01:30 pm

After trading on a flat note during the morning session of the day, the Indian equity markets have moved slightly upwards in the post noon trading session. Gains were led by stocks from aluminum and engineering segments. The stocks from auto sector are, however, trading in the red.

The BSE-Sensex is trading up 24 points (0.1%) and the NSE-Nifty is trading up by 19 points (0.2%). The BSE Mid Cap index and the BSE Mid Cap index are trading marginally up by 0.3% and 0.4% respectively. Gold prices, per 10 grams, are trading at Rs 24,809 levels. Silver price, per kilogram, is trading at Rs 33,790 levels. Crude oil is trading at Rs 3,032 per barrel. At the time of writing, the rupee stood at 63.99 to the US dollar.

Stocks in the steel sector are trading on a mixed note. Tayo Rolls is leading the gains while Adhunik Metaliks is leading the losses. India's largest steel producing company Steel Authority of India's (SAIL) special unit Salem steel plant has signed an agreement with the Butterfly group. The agreement is for setting up of a strategic business unit for manufacture of stainless steel utensils, kitchenware and tableware within the plant premises. The manufacturing unit will be setup by LLM Appliances, the flagship unit of the Butterfly group, to produce 500 tonnes of quality stainless steel designer kitchenware products per annum. Currently the stock of SAIL is trading up by nearly 0.9%.

Automobile stocks are also trading mixed today. Force Motors and Ashok Leyland are leading gainers while TVS Motors and Tata Motors are leading losers. As per a leading financial daily, auto major Tata Motors is in talks to develop a new platform for small commercial vehicles with its runaway success of Ace mini-truck which is celebrating a decade of market leadership. The Tata Ace family of mini commercial vehicles has crossed the milestone of 1.5 m sales since its first launch in 2005. The Ace segment has produced about 12 offerings, based on engine type, engine power and body configurations for both goods and passenger carrier segments in the last mile transportation. Presently the stock of Tata Motors is trading down by 2.3%.

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