Indian markets open in the green

Mon, 19 Jan 09:30 am

   Previous Close   

   Pre-Open   

   11:30 am   

   01:30 pm   

   Closing   

The major Asian stock markets have opened the day on a mixed note with the stock markets in Japan (up 0.6% ) and S. Korea (up 0.9%) leading the gains. However, the stock markets in China (down 6.3%) and Hong Kong (down 1.1%) led the losses

The Indian share markets have opened on a positive note. Barring FMCG, all sectoral indices have opened in the green with the stocks in the consumer durables and realty segment leading the gains.

The Sensex today is up by around 140 points (0.5%), while the NSE-Nifty is up by about 39 points (0.5%). The mid cap and small cap stocks have also opened in green with BSE Mid Cap index and BSE Small Cap indices up by 0.7% and 0.9% respectively. The rupee is currently trading at Rs 61.67 to the US dollar.

As per the statistical data released by the Department of Industrial Policy and Promotion, the Foreign direct investment (FDI) into the country declined by over 6 % year-on-year in November 2014 to US$ 1.53 bn, as compared to FDI worth US$1.63 bn in November 2013. However, for the April-November period in FY15, FDI was up 22 % YoY, and stood at US$18.9 bn as against US$15.5 bn in the corresponding period last year. Sectorwise, telecom sector has received maximum investment, followed by services, automobile, pharmaceuticals and computer software and hardware. For the period under review, the maximum FDI was received from Mauritius at US $5.20 bn, followed by Singapore (US$3.7 bn), Netherlands (US $2.4 bn), the US (US$1.4 bn) and Japan (US$1.3 bn). It is estimated that Indian needs around US$1 trillion over five years to overhaul its infrastructure sector to boost growth.

Barring Bajaj Auto and Hero Motocorp Ltd, auto stocks have opened firm today with Tube Investments Ltd and Escorts Ltd leading the gains. As per a leading financial daily, in order to regain its lost share in the two-wheeler market Bajaj Auto Ltd is planning six product launches in the next six months. These will include a new 100 cc motorcycle besides a 400cc model under its flagship brand Pulsar. As per the management, there will be one launch every month from Bajaj Auto. The company's new 100 cc bike is likely to hit the market in the ongoing quarter. Regarding the outlook for the fourth quarter, the management has said the company will cross the one million mark in total sales. For the whole of 2014-15, the company is likely to cross the four million units. It is noteworthy that the company has already passed on the impact of withdrawal of excise duty concessions to customers.