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Indian markets trade positively
Thu, 16 Jul 11:30 am

After opening firm, the Indian markets continued to trade positively. Most sectoral indices are trading on a mixed note with stocks from the banking and energy sectors leading the gains.

The BSE-Sensex is trading up 156 points (up 0.6%) and the NSE-Nifty is trading up 47 points (up 0.6%). The S&P BSE Midcap index is trading up by 0.9% while the S&P BSE Smallcap index is trading up 0.6%. The rupee is trading at 63.52 to the US dollar.

Stocks in the automobile sector are trading on a mixed note with Force Motors and TVS Motors leading the losses. As per a leading financial daily, two-wheeler major Hero MotoCorp has reported an increase in its sales for the year 2014-15. The company has sold 6.6 million units in 2014-15 which records a 6% increase on a YoY (year-on-year) basis. The launch of 'Xtreme Sports' and 'Passion-Pro' in Jharkhand also aided this boost in performance. The new 'Xtreme Sports' as the company states, promises to offer the best power output in its class. While Passion-Pro, it reported, is one of the most popular motorcycle brands in the country with over a m units in annual sales. Currently the stock of Hero Motocorp is trading down 0.6%.

Food and Tobacco stocks are trading on a mixed note with Tata Coffee and VST Industries witnessing buying interest. According to a leading financial daily, tobacco exports have fallen in the fiscal 2014-15. This is due to the fall in global demand and record supplies with all major exporting nations. The country's tobacco exports have dropped around 9% in value terms from Rs 61 bn in 2013-14 to Rs 56 bn in 2014-15. Also, the offtake in auctions has been 58 m kg as against 105 m kg last year. The Tobacco Board has decided to reduce the flue cured virgin (FCV) crop size by one-third to 128 m kg from 172 m kg last year in this Kharif season.

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