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Indian markets surge
Wed, 15 Jul 01:30 pm

After opening the day on a positive note, the Indian Markets continued to trade in the green in the post noon trading session. Sectoral indices are trading on an encouraging note with stocks from the auto and software sectors leading the gainers.

The BSE-Sensex is trading up 221 points (up 0.8%) and the NSE-Nifty is trading up 58 points (up 0.7%). The BSE Mid Cap index is trading marginally down while the BSE Small Cap index is trading marginally up by 0.4%. On the commodity front, gold prices, per 10 grams, is trading at Rs 25,928 levels. Silver price, per kilogram is trading at Rs 35,087 levels. Per barrel crude oil is available at Rs 3,354. The rupee is trading at 63.38 to the US dollar.

Media stocks are trading on a mixed note with Compact Disk and Sun TV bearing maximum burnt. As per a leading financial daily, Zee Entertainment has announced its results for the quarter ended June 2015. Operating profit margins for the quarter stood at 23.3% as against 29.3% in the corresponding quarter for the last year. The contraction was on account of higher operational costs which increased by 51.4% on a YoY (year-on-year) basis. However, for the quarter, the company has reported a 15.4% YoY growth in its consolidated net profit at Rs 2.4 bn while its operational revenues grew by 27% at Rs 13.4 bn on a YoY basis. Currently the stock of Zee Entertainment is trading up by 0.5%.

Stocks in the automobile sector are trading on a positive note with Force Motors and Maruti Suzuki leading the gains. According to financial times, Mahindra First Choice Wheels, the multi-brand used-cars offering from Mahindra & Mahindra (M&M), is looking for a significant increase in its share in the used car market. The company is aiming to add 180 outlets this fiscal. This will take the total count to 700 outlets across the country which will cover metros, mini-metros and smaller towns. The firm is also planning to expand this in the northern part of the country including Punjab. The key focus areas for this includes Ludhiana, Jalandhar, Chandigarh and parts of UP and Rajasthan. Stock of M&M is trading up by 1.3%.

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