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Banking and Pharma stocks in favor
Wed, 16 Sep 11:30 am

After opening on a firm note, the Indian Markets continued to trade positively. Sectoral indices are trading on a mixed note with stocks from the banking and pharma sectors leading the pack of gainers.

The BSE-Sensex is trading up 166 points (up 0.6%) and the NSE-Nifty is trading up 43 points (up 0.6%). The BSE Mid Cap index is trading marginally down while the BSE Small Cap index is trading down by 0.2%. The rupee is trading at 66.47 to the US dollar.

Stocks in the power space are trading on a mixed note with PTC India Ltd and Reliance Infra leading the losses. As per a leading financial daily, the Union Government is going to pump in Rs 700 bn to replace old thermal power plants. The government has firmed up plans to shut down some 11,000 mega watt (mw) of thermal power generation capacities that are at least 25 years old and build bigger plants with total capacity of at least 20,000 mw on the same tract of land. The move is expected to lead to savings of about Rs 400 bn on land acquisition and infrastructure costs.

Automobile stocks are trading mixed with TVS Motors and Hero Motocorp witnessing maximum buying interest. As per a leading financial daily, Tata Motors - owned Jaguar Land Rover (JLR) has entered the Sports Utility Vehicle (SUV) market with the launch of F-Pace model which is expected to hit the Indian market in the second half of 2016. It is also expected to hit the roads in Europe and the US in a phased rollout by early next year. The cars will be produced at JLR's 500-million pounds Solihull factory in the UK using new architecture which is more aluminum based. Presently the scrip of Tata Motors is trading flat on the BSE.

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