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Indian Markets open strong
Thu, 13 Aug 09:30 am

The major Asian stock markets have opened the day on a positive note with Singapore market (up 1.15%) and Japan market (up 0.79%) leading the gainers. However stock markets in China are (down 0.63%). European and US stock markets closed their session in red yesterday. The rupee is trading at 64.64 per US dollar.

Indian stock markets too have opened the day on a firm note. BSE-Sensex is trading up by 243 points (up 0.88%) and NSE-Nifty is trading up by 65 points (up 0.78%). The midcap and small cap stocks have surged upwards. Both S&P BSE Midcap and S&P BSE Smallcap are trading up by 1.32% and 1.22% respectively. Sectoral indices have opened the day in green with stocks from banking, telecommunication and automobile sectors leading among gainers.

Major stocks in the automobile space have opened their day on a firm note. As per an article in Business Standard, Maruti Suzuki is set to relaunch the diesel variant of its Ciaz sedan in this month. The new variant will come with additional features and is based on a hybrid technology. The car would use kinetic energy from the rolling wheels to charge the battery and offer better mileage. There is also a probability of the Ciaz being sold through the premium Nexa dealership that now sells only the recently launched S-Cross. Ciaz comes both in petrol and diesel variants. Petrol comes in both manual and automatic transmission, while diesel comes only in manual transmission. Stock of Maruti Suzuki is trading up by 0.69%.

Stocks in the mining sector have opened their day on a mixed note. As per an article in livemint, the government called on investment banks to pitch for the divestment of 10% stake in Coal India. The divestment is part of governments plan to raise funds by selling stake in state owned companies. The government is planning to raise as much as Rs 230bn given the current market capitalization of the company. In 2014-15 the government had set a divestment target of Rs 634bn through stake sales of which it was able to collect only Rs 313bn. Stock of Coal India is trading up by 0.59%.

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