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Indian Markets slip further
Thu, 16 Apr 01:30 pm

Indian markets extended their losses in the post noon trading session. BSE Sensex and NSE-Nifty tanked over 1% with Sensex falling over 240 points while Nifty falling nearly 80 points in the first half of the trading session. Apart from oil & gas sector, which is trading with minor losses, all the sectors have witnessed a sell-off. Healthcare, IT and capital goods are the worst hit sectors in terms of losses. BSE Mid Cap and BSE Small Cap indices have fallen over 1%.

Commodities gained traction as gold prices increased 0.2% or Rs 50 while silver prices gained 0.40% or Rs 148. Gold prices, per 10 grams, are trading at Rs 26,800 levels while silver prices, per kilogram, are trading at Rs 36,730 levels. Crude oil prices, however, did not witness much volatility and are trading with minor gains of 0.11%. Per barrel, crude oil is available at Rs 3,500.

Automobile stocks are trading with moderate losses. However, Maruti Suzuki is trading on a positive note with gains of 0.3%. Shares of Tata Motors gained over 1% in the midst of the sell off as it reported better than expected sale figures. According to the company, it reported 9% higher sales volumes on a YoY basis in March 2015. Sales figure for the month stood at 1,03,952 compared to 95,668 last year. Sales of passenger vehicle increased 16% in March 2015 to 65,466 units compared to 56,420 last year. The monthly sales of Jaguar Land Rover too increased 16% YoY to 50,093 units.

Realty stocks have fallen over 2%. Shares of Gammon India spiked 14% as it won two projects valued at Rs 8.40 bn. The first project is related to channelization of Gomti River which falls into environment and pipeline sector and is valued to be Rs 5.16 bn. Apart from Gammon India, stock of Madhucon Projects is also trading in the green.

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