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Mid, smallcaps not in favour today
Mon, 27 Apr 01:30 pm

The Indian markets continued to trade weak, with the BSE-Sensex trading lower by about 160 points or 0.6%. The NSE-Nifty was trading lower by about 60 points 0.7%. Midcaps and smallcaps were however lesser favoured today with their respective indices trading lower by about 1.4% and 2.2% respectively. Losses are seen in stocks across the board, with pharmaceuticals and realty leading the pack.

At the time of writing, the INR was trading at 63.61 to the US$. Stocks in other Asian stock markets were trading mixed at the time of writing.

Power stocks are trading mixed with JSW Energy and Reliance Infra leading the losses, while CESC and Tata Power were trading firm. A leading business daily has reported that power major NTPC has decided against importing coal for this quarter as supplies from Coal India are adequate to meet its requirements for the period. As per the company, it plans to reduce its imported coal requirements to zero over a five year period. And if Coal India is able to meet tis requirements, it will look at revising this target. As per the Economic Times, NTPC's coal stock has been boosted to 9 m tonnes as of March 2015, from just 1.6 m tonnes at the end of September last year. This move will help towards reducing the power generation costs and overall decreasing the tariff rates. The stock of NTPC is trading flat.

Auto stocks are currently trading weak with Ashok Leyland and Hero Motocorp leading the losers. Car export volumes for FY15 declined by 1.7% YoY to 542,082 units during the year. The decline in volumes was largely due to weakness in key markets such as Europe, Sri Lanka and Algeria. Hyundai Motor India Limited (with export share of over a third) saw its volumes decrease by 18% YoY in the last fiscal. Maruti's export volumes however rose by about 10% YoY. Domestic car sales volumes, on the other hand, rose by 5% YoY during the year. This was after a decline of two consecutive years. As per the Society of Indian Automobile Manufacturers, domestic sales volumes stood at 1.87 m as compared to 1.78 m units in the previous year.

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