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Indian markets trading in red
Wed, 27 May 01:30 pm

After opening the day on a negative note, the Indian share markets continued to trade weak in the post-noon trading session. Sectoral indices are trading mixed today with Software and Auto bearing the maximum burnt. However, Engineering and Banking stocks are trading firm.

BSE-Sensex is down 68 points (0.3%) and NSE-Nifty is trading 28 points down (0.3%). BSE Mid Cap is trading down by 0.3% and BSE Small Cap is trading marginally down by 0.09%. Gold prices, per 10 grams, have gained 0.1% or Rs 28 and are trading at Rs 26,920 levels. Silver price, per kilogram, is trading at Rs 38,530 levels. Crude oil, per barrel, is trading at Rs 3,770. The rupee is trading at 63.95 to the US dollar.

Stocks in the textile sector are trading on a mixed note with Alok Industries and Vardhman Holdings being the leading gainers. Textile and apparel major Raymond has rebranded its bed and bath range of home furnishing products, which was launched in 2013, as 'Raymond Home' to grab the opportunities in the rapidly growing segment. For promoting this new brand, the company has already launched a print advertising campaign and is further planning to open 28 exclusive brand outlets (EBOs) at select cities this year to expand its reach. This new brand, as stated by the company, will offer complete collection of bed sheets, pillow covers, comforters, blankets, bath robes, towels and exclusive wedding sets in a wide selection of colors and designs. Raymond is currently test marketing its range of products at two of its EBOs in Kolkata and is going to open two more outlets in Bengaluru and Hyderabad. Stock of Raymond is trading up by 0.4%.

Automobile stocks are trading mix today with Tata Motors and Eicher Motors being the top losers. The stock of Tata Motors has dipped due to lower than expected consolidated net profit which the company reported for the fourth quarter ended March 31, 2015. The consolidated net profit for the concerned quarter stood at Rs 17.2 bn as against Rs 39.2 bn for the quarter of last fiscal. This fall was on account of lower than expected operating performance at Jaguar Land Rover (JLR) and mark-to-market (MTM) loss provisioning at JLR. Consolidated revenue however increased by 3.5% to Rs 675.7 bn in the quarter backed by increased wholesale volumes and richer product mix both in the standalone business and JLR. Currently the stock of Tata Motors is trading down nearly 5.3%.

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