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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Broad based buying continues 
(Wed, 22 Oct 01:30 pm) 
 
The buoyancy in the Indian stock markets continued in the post-noon trading session. Broad based buying is witnessed across market segments before Diwali festive season. The small cap stocks are leading the gainers. Among the sectoral indices, barring stocks from realty and metals, all are trading in the green today. Gainers are being led by stocks from auto and capital goods sectors.

The BSE-Sensex is trading up 180 points and the NSE-Nifty is trading up by 58 points. The BSE Mid Cap index is trading up 0.9% and the BSE Small Cap index is trading up 1% today. The rupee is trading at 61.23to the US dollar.

Barring TVS Motors and Ashok Leyland, almost all automobiles stocks are trading on a firm note today. Gainers are being led by Hero MotoCorp and Maharashtra Scooters. As per a leading business daily, Tata Motors owned Jaguar Land Rover (JLR) expects its volume growth in China to halve to 20% this year. The company management said that sales in the second half were a bit slower than the first half. It expects sales next year to decelerate further on account of high base and slowdown in the auto market in the country. It may be noted that China is the biggest and fastest growing market for JLR. It had recently set up its first overseas factory in China to overcome huge import duties and price its car competitively in the market. Tata Motors is trading higher by 3% at the time of writing.

Majority of the energy stocks are trading in the green led by Gujarat State Petronet and Reliance Industries. As per a leading financial daily, the government is keeping a buffer of 56 paise per litre on diesel price that has been deregulated. The fuel price of diesel was reduced by RS 3 per litre at a time when oil marketing companies were earning a surplus of Rs 3.56 per litre. The government wants to keep the margin of 56 paise per litre to counter contingencies arising on account of crude price firming up once again. Reportedly the government is also having an understanding with state owned oil marketing firms such as <>Indian Oil Corporation(IOC), Bharat Petroleum Corporation Ltd (BPCL)and Hindustan Petroleum Corporation Ltd (HPCL) to offer immunity to Indian consumers in the event of surge in international diesel prices in the near future. As per reports, these state owned oil firms consult the government before raising price of petrol which was deregulated in 2010.

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Jun 27, 2017 02:16 PM

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