Indian markets broke the losing streak as it closed today's trading session with about 1% gains. BSE-Sensex gained nearly 1% or 271 points and closed at 28,930 while NSE-Nifty gained nearly 0.9% gains and closed at 8,776. The BSE Mid Cap and BSE Small Cap recorded gains of 1.2% and 0.9%, respectively. Among sectoral indices, automobile sector and capital goods sector emerged on the top with maximum gains. Investor optimism towards Indian equities gained traction as result of IMF's statement on the country's improving economy and Moody's approach towards labelling the Indian economy as "Stable". Investors await the industrial production and inflation figures.
Commodities have traded with moderate gains. Gold prices, per 10 grams, have increased about Rs 90 and is trading at Rs 25,775 levels while Silver prices, per kilogram has increased over 1% and is trading at Rs 35,430 levels. Crude oil prices jumped over 1.4% and are trading at Rs 3,040 levels. Indian Rupee declined against US Dollar by 0.4% to Rs 62.51 levels.
European indices are trading with moderate gains as Eurozone's industrial production came in below expectations. However, Britain's economic data buoyed the investor sentiments. DAX is trading with marginal gains of 0.2% while FTSE is trading with 0.8% gains.
Shares of IVRCL jumped over 7% after the company bagged order worth Rs 2.26 billion. Of the order amount Rs 1.63 billion is attributed towards building residential quarters in Tamil Nadu while the remained Rs 0.63 billion will be contributed by the project of sewerage system in Bangalore. While the project of constructing building has been awarded by Government of India, the project of sewerage system has been awarded by the Bangalore Water Supply and Sewerage Board.
Shares of Jindal Stainless gained more than 17.5% after the government, after much investigation, imposed anti-dumping duty in the range of US$ 180 to US$ 306 tonnes. These anti-dumping duties will be imposed only on those industrial-grade stainless steel products that are imported from Asian countries such as South Korea, China and Malaysia. A year ago Jindal Stainless had complained to the government about how the dumping of imports was hurting the domestic industry. It was only later that the Government imposed the duties.