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Markets continue to remain inactive
Mon, 10 Dec 01:30 pm

The Indian markets hovered around the dotted lines during most part of the post noon trading session. Currently, stocks from the oil and gas, consumer durables and IT spaces are leading the pack of losers while those from the realty and healthcare spaces are amongst the few sectors in favour today.

The BSE-Sensex and NSE-Nifty are trading flat today, with both the indices a few points around last Friday's closing levels. Stocks from the midcap and smallcap spaces are however trading higher with the BSE Mid Cap and BSE Small Cap indices up by about 0.5% and 0.4% respectively. The rupee is trading at 54.41 to the US dollar.

Stocks from the automobile sector are currently trading mixed with Mahindra & Mahindra and Maruti Suzuki leading the pack of underperformers while Bajaj Auto and Hero Motocorp are trading firm. As per data released by the Society of Indian Automobile Manufacturers (SIAM), domestic car sales decline by 8.25% YoY during the month of November 2012. The total number of such units sold stood at 158,257 units during the month. As for motorcycle sales, the same stood at a flat figure of 867,518 units during November 2012 as compared to 867,088 units last year. Total two-wheeler sales stood at 1.175 m units, a figure higher by about 1.2% YoY. Sales of commercial vehicles fell by over 7.3% YoY during the month of November 2012. As for the year till date period i.e. April to November 2012, car sales grew just 1.3% YoY.

Technology stocks are currently trading on a mixed note. On one hand Tata Consultancy Services (TCS) and Hexaware Technologies are trading weak. On the other hands, Infosys Ltd and Wipro are seeing buying interest. As per a leading daily, Wipro Ltd has stated it will fully acquire Singapore based LD Waxson's Group. The deal value is estimated to be US$ 144 m. LD Waxons Group is a Singapore based FMCG company with leading brands in skin care segment that include Bio-essence and Ginerva. The acquisition has been made for an all cash consideration. Wipro has stated that the acquisition would help it consolidate its facial skin care business further. The acquisition would help propel Wipro's business segment to a dominant leadership position in Malaysia. It would also help it in expanding its footprint in Singapore.

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Feb 20, 2018 03:35 PM