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Indian markets fall over 200 points
Thu, 5 Mar 01:30 pm

BSE Sensex and NSE-Nifty are trading on the side line with modest losses. BSE Sensex is trading with a loss of 0.7% or 200 points while NSE Nifty broke the 8900 levels with losses of 0.8% or 70 points.

The Indian rupee is down 0.06 and is trading at Rs. 62.20 levels against the U.S. Dollar. Crude oil has, however, jumped over 2.2% and is trading at Rs. 3,238 per barrel. Precious metals are trading with marginal losses. Gold price has fallen 0.2% or Rs. 55 and is trading at Rs. 26,493 per 10 grams while silver is trading on sidelines. BSE Mid Cap and BSE Small Cap are trading in the green, but marginally.

Asian stock markets are trading in the red as investors grew wary of China's growth rate. Chinese and Hong Kong stock markets have lost nearly 1.2%. However, Japanese and Korean markets have gained 0.2%, each.

Selective power and metal companies gained as second block of coal auction kick-started. The second round of coal auctions have been successful for companies like Adani Power, JSW Steel and Usha Martin. Adani Power won its maiden coal block in the auction. The company won Jitpur coal field of Jharkhand at the rate of Rs. 302 per tonne while Usha Martin and JSW Steel won coal blocks from Brinda and Sasai fields and Moitra field at the rate of Rs. 1804 and Rs. 1512 per tonne, respectively. The whole process of coal auction was monitored via MSTC's e-commerce official website. Share price of Adani Power gained nearly 2% after it won its maiden coal block.

Crompton Greaves gained around 3% after the company acquired an order for 4 million LED light bulbs. The order was presented by Energy Efficiency Services Limited (EESL). EESL is joint venture between REC, PFC, Power Grid and NTPC. The 4 million LED light bulbs are meant for different purpose which includes selling 7W LED bulbs in Andhra Pradesh at low cost and another project in Delhi.

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