Indian stock market indices continued to trade firm over the last two hours of trade. Metal and FMCG stocks witnessed maximum buying interest while Banking and Consumer Durable stocks witnessed maximum selling pressure.
The BSE-Sensex is up by 90 points, while the NSE-Nifty is up by 28 points. BSE Mid Cap and BSE Small Cap indices are up by 0.19% and 0.03% respectively. The rupee is trading at 49.14 to the US dollar.
Automobile stocks are trading firm led by Mahindra & Mahindra and Tata Motors. As per a leading financial daily, with the shradh period coming to an end, consumers are back at the car showrooms. Top car manufacturers Maruti Suzuki, Hyundai, Honda and others are looking to make the most of this opportunity. As per these auto companies, they expect sales to increase by 15-20% during the festival season. They have a number of new car launches lined up along with attractive discounts to woo the customers. The new launches on an average have a waiting period of around 8 months for delivery. We may recollect here that car sales have not shown a desirable growth in the recent past due to higher interest rates and increased fuel prices. The festive season might just bring some cheers for the industry.
Retail stocks are trading weak led by Koutons and Pantaloon. According to a leading financial daily, Titan Industries, the maker of watches, eyewear and jewellery is planning to hike watch prices by 4-20% across brands. This move comes in an attempt to safeguard their margins. The company is planning to raise prices of Nebula, Titan's line of gold watches by 15-20% because of rising gold prices. It has also hiked the prices of its Swiss-made brand Xylys due to significant currency fluctuations and is going to further hike prices of this brand post Diwali. According to the company, demand for watches in the price segment of Rs 2,000 and lower has come down, while that for the price segment of Rs 5,000 and above has remained intact.
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MRPL share price has hit a 52-week high. It is presently trading at Rs 45. BSE 500 Index is up by 1.7% at 19,713. Within the BSE 500, MRPL (up 8.3%) and RCF (up 20.0%) are among the top gainers, while top losers are HIMADRI SPECIALITY CHEMICAL and BHARTI AIRTEL.
KEC INTERNATIONAL share price is trading up by 5% and its current market price is Rs 454. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are KEC INTERNATIONAL (up 5.2%) and BHARAT ELECTRONICS (up 6.5%). The top losers are SCHAEFFLER INDIA (down 0.2%) and HINDUSTAN AERO. (down 0.3%).
GUJARAT ALKALIES share price is trading up by 10% and its current market price is Rs 346. The BSE 500 is up by 1.6%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 10.2%) and DEEPAK NITRITE (up 14.5%). The top losers are COLGATE and HDFC AMC .
DEEPAK NITRITE share price is trading up by 13% and its current market price is Rs 1,553. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are DEEPAK NITRITE (up 12.8%) and JUST DIAL (up 14.2%). The top losers are BAJAJ HOLDINGS & INVESTMENT and CADILA HEALTHCARE .
HIMADRI SPECIALITY CHEMICAL share price is trading down by 11% and its current market price is Rs 55. The BSE 500 is up by 1.4%. The top gainers in the BSE 500 Index are RCF (up 20.0%) and MMTC (up 20.0%). The top losers is HIMADRI SPECIALITY CHEMICAL (down 11.3%).
BSE Sensex is trading up by 378 points, while the NSE Nifty is trading up by 165 points.
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