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Indian markets dip lower
Fri, 7 Aug 11:30 am

After opening the day with marginal losses, the Indian Indices have dived lower. Sectoral indices are trading on a mixed note with auto, FMCG and telecom sectors leading the losses. However, energy and mining stocks are trading in the green.

The BSE-Sensex is trading lower 50 points (down 0.2%) and the NSE-Nifty is trading down 20 points (down 0.2%). The BSE Mid Cap index is trading flat while the BSE Small Cap index is trading marginally up by 0.3%. The rupee is trading at 63.82 to the US dollar.

Engineering stocks are trading on a mixed note with BGR Energy and Opto Circuits witnessing maximum buying interest. As per an article in business standard, diesel engine manufacturer Cummins India has posted its numbers for the quarter ended June 30, 2015. The company, for the quarter, has posted a marginal decline of 0.59% in its net profit on a YoY basis. However, the total income of the company witnessed a surge of 25.8% YoY. The exports for the company have grown 40% which includes small generators. On a separate note, the company is planning to expand its Phaltan plant in the next two years depending upon its market conditions. Presently the scrip of the company is trading up by 2.2%.

Stocks in the mining sector are also trading mixed with MMTC Ltd and Coal India leading the losses. According to financial times, Coal India has prepared a roadmap for achieving a coal production level of about 908 MT (million tonnes) in 2019-20 as against the current production level of 494.23 MT. For the purpose, the company is going to invest Rs 625.9 bn in five years by 2019-20. As reported, the planned investment would be met from internal resources of the company. Coal India accounts for over 80% of the domestic coal production. Currently the stock of company is trading down by 1%.

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