After trading on a flat note during the morning session of the day, the Indian equity markets have stayed above the dotted line in the post noon trading session. Gains are led by stocks from banking and auto stocks. IT stocks are however trading in the red.
The BSE-Sensex is trading up 70 points (0.3%) and the NSE-Nifty is trading up by 13 points (0.2%). The S&P BSE Midcap index and the S&P BSE Smallcap index are trading up by 0.5% and 0.9% respectively. Gold prices, per 10 grams, are trading at Rs 24,800 levels. Silver price, per kilogram, is trading at Rs 33,850 levels. Crude oil is trading at Rs 2,985 per barrel. At the time of writing, the rupee stood at 63.99 to the US dollar.
Stocks in the automobile sector are trading on a mixed note with Force Motors leading the gains and TVS Motors bearing the losses. According to financial times, Bajaj Auto has reported a 3% increase in its total sales for the month of July, 2015. This was registered at 3,30,231 units as against 3,19,292 units in the same month of 2014. Motorcycle sales during the month rose 5% YoY while the sales of commercial vehicles witnessed a decline of 7% YoY. Exports for the concerned month came in at 1,64,690 units, a YoY decline of 3%. Presently the scrip of Bajaj Auto is trading down by 0.7%.
Pharma stocks are trading mixed with Novartis and Pfizer witnessing maximum buying interest. As per a leading financial daily, GlaxoSmithKline pharmaceuticals (GSK pharma) has announced its Greenfield manufacturing facility at Bengaluru will be operational by 2017. The facility with an installed capacity of over 9 bn tablets and capsules per year will supply a range of solid dose form products. It will come with an investment of up to Rs 10 bn. As stated by the company, the new unit is part of the strategic plan to rationalize, streamline and reduce costs in the supply network, whilst increasing capacity to meet the growing demands for important medicines. On a separate note, the company has also halved the prices for its Seretide inhaler in India to match that of Cipla's brand Sereflo. Stock of GSK pharma is currently trading up 0.3%.