Indian Stock Markets were trading marginally higher during afternoon trade with Hero MotoCorp, Maruti Suzuki and DLF among major gainers. At 14.28 pm IST, BSE Sensex was up by 46 points at 19300 while NSE Nifty was trading higher by 10 points at 5828.
European markets have opened marginally higher. FTSE was up by 0.2 per cent at 6440. DAX and CAC were also marginally higher.
Among major gainers in today’s trade were Hero MotoCorp with gain of 4.2% at Rs 1716. Maruti Suzuki was higher by 1.8% at 1450. DLF and Larsen were up by nearly 2 per cent.
Among major losers were Jindal Steel, HUL, Tata Motors and Ambuja Cements. Reliance, ONGC and Coal India were trading marginally lower.
Indian currency was slightly higher compared to US dollar and Euro. Gold was trading at Rs 29555 for 10 grams in Mumbai market while Silver was at Rs 55050 for 1000 grams.
Indian Stock Market gained in the last two hours of trading session. The market was helped by the buying witnessed in HDFC and ITC. BSE Sensex closed 51 points higher while NSE Nifty closed 13 points higher.
Pharmaceutical major Dr Reddys Labs touched 52-week high of Rs 1921 and the stock closed at Rs 1908. Idea Cellular also touched 52-week high of Rs 112. Other stocks touching 52-week high included ING Vysya Bank, K Sera Sera, Cipla, Bank of Maharashtra, Marico, Nahar Spinning, Pantaloon Retail, Oracle Financial, RS Software and SBI.
Indian Currency gained compared to US dollar and Euro. Gold price remained flat while Silver was up by 0.4%.
Fitch Ratings has again raised the alarm against the Indian economy and growth outlook. The rating agency has cited high fiscal deficit as a reason for upcoming downgrades for Indian economy.
Finance Minister was quick to respond to Fitch’s report of future downgrades for India. He added that India is not concerned about downgrade as he is confident of containing the fiscal deficit.
Indian Stock Market closed higher on Tuesday after US managed to escape the fiscal cliff for the moment. BSE Sensex closed 154 points higher at 19580 and NSE Nifty closed 46 points higher at 5950. Next major resistance for NSE Nifty is 6000.
Among European markets, CAC was up yesterday while FTSE and DAX closed lower. US Markets are expected to remain positive in the start of New Year 2013. Markets closed with decent gains with Dow Jones gaining 1.28% and Nasdaq closing 2 per cent higher.
Punjab & Sind Bank gained 10% in today’s session after the bank announced that the board has approved the plan to raise Rs 1000 crore. The stock touched intraday high of Rs 81.75 on NSE and closed Rs 8.10 higher.
Among other major gainers were Reliance Infra, Jindal Steel, Hindalco and PNB. Among banking counters ICICI Bank, Bank of Baroda, HDFC Bank and Axis Bank closed positive.
Power Grid, NTPC, Infosys Technologies and Asian Paints were among major losers in today’s trade.
Indian currency gained smartly compared to USD. USD was down by 31 paisa at 54.68. Euro-INR was trading at 72.28.
Indian Stock Markets closed marginally higher on Tuesday. BSE Sensex closed 42 points higher at 19348 and NSE Nifty closed 5 points higher compared to yesterday’s close. Among European stocks, CAC was up by 0.8%. DAX and FTSE were marginally higher.
Jaiprakash Associates was among major gainers in today’s trade. The stock closed above Rs 100 after gaining 4.4%. Tata Power, Reliance and Ranbaxy Labs were among major gainers.
Top losers included Ambuja Cements, Mahindra & Mahindra, Wipro and TCS. The markets are looking at FDI in retail decision as various political parties have kept their cards hidden on the issue.
Rating agency Moody’s has maintained negative outlook for Indian banks. The financial services and banking sector is facing pressure on margins.
USD was trading at 54.68 compared to INR. Euro was strong compared to Indian currency at 71.52. Gold prices were down by 0.44% at Rs 31125 per 10 grams.