The major Asian stock markets have opened the session on a negative note with markets in China (down 2.39%) and Hong Kong (down 1%). European stock markets closed their session on a positive note while the US stock markets remained flat on Friday. The rupee is trading at 63.97 per US dollar.
Stocks in the automobile space are trading on a mixed note. As per an article in a leading financial daily, Suzuki Motor Corporation has for the first time entrusted the responsibility on its Indian subsidiary Maruti Suzuki to meet the demand for global premium hatchback. The premium hatchback codenamed 'YRF' will take on the likes of Volkswagen Polo, Fiat Punto and Ford Figo. The vehicle will be exported to Germany, Italy, UK and even its home market in Japan. The 'YRA' hatchback is expected to be powered by a 1.2 litre petrol engine and 1.3 litre multi jet diesel engines. The car will be premiered at the upcoming Frankfurt Motor Show. Stock of Maruti Suzuki is trading up by 2.25%.
Stocks in the power space are trading on a mixed note. As per an article in economic times, National Thermal Power Company (NTPC) will not place any new order for import of coal during three months to September. The decision is in line with the government's initiative of achieving self- sufficiency in coal production and reducing the imports of coal to zero. The step is largely taken as the imported coal turns out to be costlier than the domestic variety because of its logistic costs. The decision is expected to help them the company to lower the cost of generation of power. Additionally NTPC's own mines are also set to start the production of coal soon. Stock of NTPC is trading marginally up.