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Markets will remain closed on 19th & 20th October 2017.
We wish all our readers a very Happy Diwali!

Markets trading flat with positive bias
Fri, 3 Sep 11:30 am

After starting the session today on a positive note Indian indices have shed some early gains. Other key Asian markets too are trading flat. Currently heavyweights in the Sensex are trading mixed with stocks from realty and auto space witnessing strong buying interest. However, stocks from oil & gas and metals space are trading in the red.

Currently, the BSE-Sensex is trading up by around 7 points, while the NSE-Nifty is up by about 2 points. However, strong buying interest is witnessed amongst the mid and small cap stocks as the BSE-Midcap and BSE-Smallcap indices are trading up by 0.8% and 0.9% respectively. The rupee is trading at 46.67 to the US dollar.

Auto stocks are trading mixed with MRF and Escorts leading the gains. Amtek Auto and Cummins India were however trading weak. Tata Motors plans to launch a deluxe version of the Nano in India by 2012. This version would have a more powerful engine, and comfort and safety features including power steering, air bags and an anti-lock braking system. The deluxe Nano comes on the back of the company working on an advanced version of its landmark budget car for the European region, called 'Nano Europa'. Tata Motors is looking at launching the same car in India when it gets ready for its Europe debut. The Europa will have a longer wheelbase than the current Nano and will have redesigned interiors. The car will be powered by a 3-cylinder sporty aluminum MPFI engine with a 5-speed automatic transmission. In light of clean energy requirements, the company has targeted that the petrol engine will be highly fuel efficient and will have low CO2 emission of less than 100 gm/km.

Realty stocks are trading strong with Ansal Properties and Omaxe leading the gains. However, Peninsula Land and Parsvnath Developers are trading in the red. As per leading news daily, DLF, Indias largest real estate company has put on hold its plan to sell its non-core assets including ultra-luxury hotel chain Aman Resorts and wind energy business for the next three quarters. In July, the company has indicated that it plans to raise around Rs 25 bn in the next 15-18 months by selling its non-core assets. However, the divestment plan is deferred as property prices have started firming up and the company plans to wait for the right time to offload its noncore assets. Nonetheless, it should be noted DLF has improved its cash flow from operations in the past few months in the backdrop of recovery in the realty space. It has also managed to bring the average cost of debt down to 10.5% in June 2010 from 11.9% in December 2008.

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Oct 19, 2017 (Close)

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