Indian Markets End Flat

Fri, 10 Apr Closing

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Indian markets closed today's session on a flat note after opening weak and dropping over 100 points. BSE Sensex closed today's trading day with a loss of 6 points while NSE-Nifty closed the day with marginal gains of 2 points. BSE Mid Cap and BSE Small Cap stocks outperformed today's market. Smallcap stocks gained over 1% while midcap stocks edged moderately upwards by 0.3%. Banks, Capital Goods and Pharma stocks traded with a negative bias while rest of the stocks gained moderate positive momentum.

European stocks received a major boost when French and Spanish economies registered growth in industrial production. While the industrial production in France remained flat in comparison to expectations of a slowdown of 0.1%; Spain's industrial production gained 0.6% for the month of February compared to earlier month's reading of 0.1% and previously estimated reading of 0.4%. German DAX, French CAC and Euro Stoxx trade with gains of 1.2%, 0.5% and 0.60%; respectively. Euro currency declined by 0.5% or 0.35. The Indian Rupee against the Euro currency stands at Rs 66.05.

Commodities continue to trade with strength as gold prices trade with an upside of 0.7% while silver prices gained 1.7% in second half of the trading session. Gold prices, per 10 grams, gained Rs 181 and are available at Rs 26,700 level while silver prices, per kilogram, gained Rs 624 and are available at Rs 36,900 levels. Crude oil prices extended its weakness and fell nearly 2%. Per barrel, crude oil is available at Rs 3,151. Dollar currency gained 0.11% or 0.07 against the Indian rupee. The Indian Rupee stands at Rs 62.31.

Metal stocks gained received investors' attention during today's trading session. Hindustan Copper gained over 4% after the company received a nod from its board directors to create a Joint Venture Company (JVC) with Chhattisgarh Mineral Development Corporation (CMDC). The company will be shelling out Rs 0.10 bn in the form of investment towards developments of new copper mines in Chattisgarh. Apart from Hindustan Copper, companies like Tata Steel finished today's session with a loss of nearly 1%.

Power stocks, like most of the sectoral indices gained moderate attention. Solar company, Modern India received a green light to commission a solar plant in Satara. The company has received approvals of setting up a 5 MW solar plant in Satara out of which 3MW will be set up and be commissioned by the company. Shares of the company gained nearly 1% post these developments.