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Indian markets gain momentum
Fri, 31 Jul 01:30 pm

After opening the day in the green, Indian Indices surged upwards in the post noon trading session. Most of the sectoral indices are trading in the green with stocks from the banking, pharma and FMCG sectors leading the gainers.

The BSE-Sensex is trading up 334 points (up 1.2%) and the NSE-Nifty is trading up 91 points (up 1%). The BSE Mid Cap index is trading up 1.3% and the BSE Small Cap index is trading up 0.9%. In commodity markets, Gold prices, per 10 grams, are trading at Rs 24,571 levels. Silver price, per kilogram, is trading at Rs 33,729 levels. Crude oil is trading at Rs 3,088 per barrel. The rupee is trading at 64.1 to the US dollar.

Finance stocks are trading on a mixed note with Prime Securities and Shriram Transport Finance leading gainers. According to financial times, Capital First is all set to raise Rs 3.5 bn on a private placement basis. The company has received an approval for issue of Listed, Rated, Secured, Redeemable, Non-Convertible Debentures (NCDs). The Debenture Committee constituted by the board of directors of the company at its meeting held on July 30, 2015 has approved for the same. Capital First is an MSME and consumer financing company which provides debt financing and also offers home loans, two wheeler loans and durable loans to entry and mid-level salaried employees of corporate. Currently the stock of Capital First is trading up by 0.7%.

Stocks from the auto ancillaries sectr are trading mixed with Sona Koyo Steering leading the gains and Munjal Showa leading the losers. As per a leading financial daily, Exide Industries has reported its results for the first quarter ended June 30, 2015. For the quarter, the company has reported a 16.2% fall in its net profit on a YoY basis. The total income witnessed a YoY fall of 6% for the concerned quarter. The company manufactures the widest range of storage batteries in the world from 2.5 Ah to 20,400 Ah capacities. It has seven manufacturing plants strategically located across the country. The stock of Exide Industries is presently trading marginally up.

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