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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Realty, banking pull markets higher 
(Thu, 11 Oct 01:30 pm) 
The Indian equity markets moved into the positive territory during the post noon trading session led by stocks from the realty, banking and capital goods spaces. FMCG and auto stocks are the top underperformers at the moment.

The Sensex today is trading higher by about 40 points (up 0.25%), while the NSE-Nifty is trading higher by about 15 points (0.3%). Stocks from the midcap and smallcap spaces are however faring better as the BSE Mid Cap and BSE Small Cap indices are up by about 0.7% and 0.5% respectively. The rupee is trading at 52.91 to the US dollar.

Auto stocks are currently trading weak led by TVS Motors, Mahindra & Mahindra and Maruti Suzuki. According to the Society of Indian Automobile Manufacturers (SIAM), the car sales volumes for FY13 are expected to grow by a flattish rate of 1 to 3%. This figure is much lower than the earlier projects figure of 9% to 11%. The body has cited reasons such as the economic slowdown, high interest rates and fuel costs are reasons for the downgrade. While growth estimates were unchanged earlier on hopes of the demand picking up this festive season, the auto body could not help but lower the figures on account of domestic car sales slumping by about 5.4% during the month of September 2012. During the month of August this year, car sales declined by 18.5%. However, the total passenger vehicles sales grew by about 5% during September 2012 on the back of strong growth in utility vehicles. Further, it is reported that the Indian auto sectors is expected to miss the target of US$ 160 bn at the end of 2016 by about US% 34 bn or 21.25%, according to the director general of SIAM.

Stocks of oil and gas companies are trading firm led by Essar Oil, Oil and Natural Gas Corporation and Cairn India. As per a leading financial daily, the Delhi Government is planning to launch 1,000 additional buses under its Integrated Multi-modal Transit scheme. As buses in Delhi are fuelled by compressed natural gas (CNG), this fleet expansion is likely to benefit Indraprastha Gas Ltd (IGL) that supplies CNG to the sector. IGL is a joint venture between Gas Authority of India Ltd, Bharat Petroleum Corporation Ltd and the Delhi Government. It has expanded its network in Ghaziabad and Greater Noida over the last two years at a cost of Rs 6.8 bn. The company has further given a capital expenditure guidance of Rs 4.5 bn for FY14.Apart from CNG, IGL also supplies piped natural gas or cooking gas to homes, commercial and industrial establishments.

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Apr 24, 2017 (Close)