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Indian markets open in green
Thu, 28 May 09:30 am

Indian markets have opened the trading session in green, however with minor gains for the first time this week following upbeat global cues. BSE Sensex and NSE-Nifty has opened the day higher by 0.2% each. BSE Mid Cap and BSE Small Cap have also started the trading on an encouraging note with both the indices up by 0.3% each. Majority of the sectoral indices are trading in positive territory with Consumer Durables and Auto stocks being the leading gainers.

Asian shares were largely higher while Wall Street closed higher overnight on indistinct hopes of a rescue deal for Greece. The Indian rupee has opened at Rs 63.93 a dollar, up 8 paise over previous day's close.

According to a leading financial daily, India's flagship gas trading and marketing company GAIL (India) announced that it has entered into an agreement to sell liquefied natural gas (LNG) to Shell through its subsidiary in Singapore. Reportedly, in December 2011, GAIL had signed a deal with Cheniere Energy Partners to buy 3.5 million tonnes per annum (mtpa) of LNG from the Sabine Pass Terminal in Louisiana and another 2.3 mtpa capacity to export LNG from the Dominion Cover Point terminal in Maryland. It was also reported that the company would issue an LNG swap tender in two months to cut transport costs for supplies to India and adding 0.5 million tonnes of its US LNG which has already been booked by local clients while talks were ongoing with domestic and foreign firms.

Automobile stocks have opened the day on an optimistic note. According to a leading financial daily, Utility vehicles maker, Mahindra and Mahindra Limited (M&M), is planning to launch nine vehicles during this financial year. This includes all new models in both personal and commercial segments. Mahindra & Mahindra also unveiled the new age XUV500 in Mumbai at Rs 1.12 m for the W4 variant. The company's most popular product XUV 500 has sold more than 100,000 units since its inception 3 years ago and is currently selling 3000 units per month. M&M currently commands a 17% share of the total utility market in the country.

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