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Indian stock markets surge upwards
Mon, 22 Jun 11:30 am

After opening the day on a positive note the Indian stock market indices have surged upwards. Buying interest is highest in banking sector.

The BSE-Sensex is trading up by 248 points (0.91%) and the NSE-Nifty is trading up by 84 points (1.03%). The BSE Mid Cap index is trading up by 92 points (0.88%), while the BSE Small Cap index is trading up by 111 points (1.01%). The rupee is trading at 63.50 to the US dollar. Gold and Silver are trading at Rs 26,988 per 10 grams & Rs 36,550 per kilogram respectively.

Stocks in Automobile are trading on a positive note with Maruti Suzuki trading up by 0.55% and Tata Motors trading up by 2.08%. Alto the small car from Maruti Suzuki Ltd has emerged as the top selling car for a fifth straight month. Alto has a strong demand from the rural sector. However weakening of rural demand due to poor monsoon remains a concern. Alto was followed by other models such as Swift, Dzire, Wagon R at the second, third and fourth positions respectively.

Stocks in FMCG are trading on a positive note with Nestle India trading up by 0.28% and ITC up by 0.78%. After Uttarakhand imposed ban on Maggi for a period of 90 days, ITC's Yippee noodles is under the scanner now. The food safety and security authority of Uttarakhand has issued a notice seeking clarifications about the nutritional and other claims on the product's label. Notice directs ITC to provide nutrients profile and lab reports to back their claims of energy, protein, carbohydrate, sugar and calcium as mentioned in their packets.

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