After opening the day on a firm note, the Indian Markets are trading well above the dotted line. Sectoral indices are trading on an encouraging note with stocks from the IT and auto sectors leading the gainers.
The BSE-Sensex is trading up 356 points (up 1.4%) and the NSE-Nifty is trading up 113 points (up 1.5%). The BSE Mid Cap index and the BSE Small Cap index are also trading positively, both up by 1.8%. The rupee is trading at 66.32 to the US dollar.
Automobile stocks are trading on an encouraging note with Ashok Leyland and Tube Investments leading gainers. As per a leading financial daily, Maruti Suzuki has launched a fortnight-long campaign to promote its recently launched Celerio model in Gujarat. The campaign has been launched in four cities and is mainly aimed at increasing the sales of Celerio during the festive season. Further the company stated that the Celerio, which was launched in 2014, has already crossed the one lakh sales milestone. Scrip of Maruti Suzuki is trading up by 2.8% on the BSE.
Stocks in the power space are also trading firm with JSW Energy and Torrent Power Ltd witnessing maximum buying interest. As per an article in Economic Times, the Union Cabinet is going to take a call on increasing the fund allocation for the programme to promote grid connected rooftop and small solar projects. The proposal has sought to increase allocation for the scheme to Rs 50 bn from Rs 6 bn in 12th plan period (2012-2017). The Ministry of New & Renewable Energy has set this Rs 6 bn outlay in its 12th plan for grid interactive rooftop and small solar systems. On a separate note, the government has set a target of 40,000 MV of grid connected rooftop solar power generation capacity by 2022 under the National Solar Mission.