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Indian markets trade flat
Fri, 11 Sep 01:30 pm

After opening the day on a firm note, Indian Indices shed some of their gains and are currently trading on a flat note. Sectoral indices are trading mixed with stocks from the engineering and steel sector leading the losses.

The BSE-Sensex is trading down 16 points (0.06%) and the NSE-Nifty is trading down 8 points (0.1%). The S&P BSE Midcap index is trading marginally down while the S&P BSE Smallcap index is trading up by 0.5%. Gold prices, per 10 grams, are trading at Rs 26,133 levels. Silver price, per kilogram, is trading at Rs 35,347 levels. Crude oil is trading at Rs 3,009 per barrel. The rupee is trading at 66.33 to the US dollar.

Most of the automobile stocks are trading on a firm note with Mah. Scooters and TVS Motors leading the gainers. As per a leading financial daily, Tata Motors and Total Lubrifiants have signed an after-market partnership agreement to supply high performance lubricants across Tata Motors sales & service points in the global market. Through this agreement, Total Lubrifiants will support Tata Motors service network and its customers by ensuring the right oil grades and providing stringent lubrication requirements of the company's commercial vehicles. Presently, the stock of Tata Motors is trading down by 0.6% on the BSE.

Stocks in the energy space are trading mixed with Gujarat Gas and MRPL witnessing maximum selling pressure. As per an article in Economic Times, Bharat Petroleum Corporation (BPCL) is planning to invest Rs 1000 bn in the next five years after the government asked India Inc to loosen the purse strings to step up investments. For this the company has drawn a five-year (2016-2021) roadmap known as project ‘Sankalp'. A major portion of this investment is proposed to be used to expand BPCL's refining capacity to 55 million tonnes per annum (mtpa) from the present 30 mtpa now. Scrip of BPCL is trading positively, up by 1%.

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