The Indian equity markets held on to their gains in the final hours of trade. While the BSE-Sensex today closed higher by 117 points, the NSE-Nifty closed higher by 31 points. Midcaps and Smallcaps too closed the day on a positive note. While the BSE Mid Cap index closed higher by 0.7%, the BSE Small Cap index closed the day higher by 0.8%. However, while most sectoral indices posted gains, Metals and realty stocks were the losers today.
As regards global markets, Asian indices closed on a positive note today, with the Taiwan and Singapore markets posting the biggest gains. The rupee was trading at Rs 60.46 to the dollar at the time of writing.
Mining stocks have ended the day on a mixed note, with Hindustan Zinc and Sesa Sterlite closing the day with the biggest declines. As per a leading business daily, the former employees of Coal India have put forth demands for their pensions to be revised. Their rationale for this being that the current pension scheme was implemented over 15 years ago. As per this old pension scheme, some of the retired employees have been drawing Rs 73 per month. In fact, as per the daily, even a former chairman was entitled to as low as Rs 2,344 per month. Any such revision, depending on its quantum, will increase the employee costs for the company.
Auto stocks have ended the day on a positive note. Ashok Leyland and Tata Motors were among the top gainers today while Eicher Motors was one of the few losers. As per a leading business daily, with an aim to increase its market share, two wheeler major TVS Motors is planning to launch a new motorcycle in the commuter segment within the next 6 month. This would then be followed with a new 'Apache' in the premium category. The company expects that these launches would bring in additional sales of about 60,000 units in FY15. It is also looking at these launches as a means to increase its share in the two wheeler segment to 14.5% from about 12% in the year gone by.