Indian stock market continued its sustained northward journey led by continuous buying among the index heavyweights. The mid and small cap stocks lead the index gainers. Among the sectoral indices, barring metals, all sectoral indices are trading higher. Healthcare and realty sector stocks are leading the pack of gainers.
The BSE-Sensex is trading up 150 points. The NSE-Nifty is trading up 51 points. The BSE Mid Cap index is trading up 1.1% and the BSE Small Cap index is trading up 1.2%. The rupee is trading at 60.47 to the US dollar.
Auto stocks are trading mixed today. While TVS Motors is trading higher, Tata Motors is trading in the red. As per a leading business daily, Bajaj Auto reported its sales volume data for the month of August 2014. The two wheelers maker's total sales volume increased to 3.36 lakh units in the month, which was up by 8% YoY as compared to the same month the last year. Its motorcycle sales grew marginally by 2% YoY in August 2014. At 2.8 lakh units, the company's motorcycle volumes comprise over 80% of total sales volumes. Majority of the growth was witnessed in the commercial vehicles sales that grew by 56% YoY in the month to 52,538 units. Sales of exports increased by 21% YoY to 175,127 units. The company management expects it sales volumes to cross 4 lakhs unit mark in the current month. The stock of Bajaj Auto is trading higher by 1% today.
Almost all Indian Pharma stocks are trading on a positive note today. Cipla is leading the pack of gainers, however Wockhardat is trading lower. As per a leading business daily, Cipla has launched an anti-asthma inhaler in the European countries of Germany and Sweden. Cipla's asthma drug is a generic version of GlaxoSmithKline Plc's top selling product Advair. Advair is GSK's US$ 8 bn dollar product. Last December, Denmark became the first European country to approve marketing of GSK's Advair. Cipla's launch of generic version of Advair will dent latter's sales in the European countries. Cipla will market the drug under the name Serrofloin in Germany and Salmeterol or Fluticasone Cipla in Sweden.