Indian markets trade in the red

Wed, 14 Oct 01:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   11:30 am   

   Closing   

After trading on a tad below the dotted line during the morning session, the Indian Indices added further losses and are presently trading in the red. Sectoral indices are trading on a mixed note with stocks from the consumer durables and oil & gas sectors leading the gains. However, auto and IT stocks are trading in the red.

The BSE-Sensex is trading lower by 42 points (down 0.2%) and the NSE-Nifty is trading down by 17 points (down 0.2%). The BSE Mid Cap index is trading down by 0.3% while the BSE Small Cap index is trading up by 0.3%. Gold prices, per 10 grams, are trading at Rs 27,161 levels. Silver price, per kilogram, is trading at Rs 37,521 levels. Crude oil is trading at Rs 3,042 per barrel. The rupee is trading at 65.02 to the US dollar.

Automobile stocks are trading mixed with Escorts and Tube Investments leading the gains. As per a leading financial daily, Japan's Suzuki, which controls 56% stake in Maruti, has decided to make India a global manufacturing hub for its upcoming premium compact car Baleno. The car is reportedly set to be exported to 100 countries, including the Western European nations. Moreover, it has been developed with an investment of Rs 10.6 billion.

Maruti Suzuki will launch this first premium hatchback- Baleno- on October 26. The move is an important step for Maruti as it seeks to transform itself from being an entry-level carmaker to a player that can offer premium vehicles. Further, the company stated that with the growing size of Indian market, it is planning to gradually migrate into manufacturing of bigger vehicles.

Radhika Pandit, the Managing Editor of Value Pro, has detailed her analysis in the latest research update for the company (subscription required). Here, she discusses the estimated volume targets and upcoming launches that the company has projected over the coming years. If you are following the stock, then this can be a valuable resource for you. Scrip of the company is presently trading down by 0.6%.

Stocks in the engineering space are also trading mixed with Sanghvi Movers and Welspun Corp witnessing maximum selling pressure. As per an article in Business Standard, Siemens Ltd along with its parent company Siemens AG, has won an order totaling nearly Rs 1.83 billion from NTPC Ltd. The component of Siemens Ltd in the order is said to be of Rs 970 million. The scope of work for the same includes modernization as well as maintenance of Controls and Instrumentation at NTPC's Dadri Power Gas Station. The solution will deliver improved plant availability, quick reaction in critical situations, integrated work flows, ergonomic design and integration of further applications. Stock of Siemens is trading down by 0.1% on the BSE.