Both BSE Sensex and NSE-Nifty oscillated between modest profits and losses amidst volatility after a strong opening in the morning. Investor sentiment weakened after a report revealed that HSBC PMI for manufacturing activity fell to a five-month low to 51.2 for the month of February. The BSE Mid Cap and BSE Small Cap have however outperformed the market today with gains of 0.60% and 0.30%, respectively. The precious metals, gold and silver, have been trading 1% higher at Rs 26,705 and Rs 37,130, respectively while the Crude oil is low marginally 0.03% today and is trading at Rs 3,062 levels. The Indian Rupee is trading marginally higher by 0.05 at 61.88 against the U.S. Dollar.
The Asian stock markets closed in the green as China reduced the interest rates in an attempt to kick-start its ailing economy. Nikkei, Hang Seng, Shanghai and Kospi ended the trading day with 0.15%, 0.65%, 0.15% and 0.55% respective gains. Taiwan Weighted ended the day in the red with 0.22% losses.
Oil & gas companies led the gains from the front as petrol and diesel prices were increased throughout India. The increase of prices was the consequent result of increase in the international crude oil prices. Petrol prices increased by Rs 3.18 while diesel witnessed an increase of Rs 3.09. This is the second instance when the petrol prices in India have been increased. Bharat Petroleum Corporation Limited is currently trading higher by about 5%.
The automobile sector has remained mixed in today's trading session; however Maruti Suzuki India has gained over 2% as it reported positive sales for the month of February. The company announced that sales volumes increased 8.7% year over year to 118,551 units. Domestic sales of the company increased 8.2% YoY to 107,892 units while exports of the company improved by 14% YoY to 10.659 units.
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