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NSE Nifty hits all time high
Mon, 18 Aug 01:30 pm

The Indian Indices have continued to trade well above dotted line in post noon trading session. Barring stocks from IT sector all the sectoral indices are in green today. Among the gainers, stocks from capital goods sector and oil and gas sector are leading the pack.

The BSE-Sensex is trading up 209 points. The NSE-Nifty is trading up 59 points. The BSE Mid Cap index is trading up 1.6% and the BSE Small Cap index is trading up 1.9%. The rupee is trading at 61.05 to the US dollar.

Most of the automobile stocks are trading firm today with Escorts and Tata Motors being among the leading gainers. As per the financial daily, Chennai based TVS motor company is looking to make new launches in the current fiscal. This will help the company to regain third position in the country's two wheeler market. Reportedly the company has lined up launches like, Zest and refreshed versions of motorcycle viz Apache and Victor. The company is looking forward to make these launches before the end of the current fiscal. The company would focus on emerging markets especially, Africa, South America and Indonesia. In this fiscal till July, the company has seen a growth of 34.82% in its motorcycle and scooter sales. TVS motors was trading up by 2.02% at the time of writing

Stocks of steel manufacturers were trading firm led by SAIL, Maharashtra Seamless and Jindal Steel. As reported by the Hindu Business Line, the financial health of the country's iron and steel sector is improving as demand has been inching towards the installed capacity of the industry. It is believed that in the first four months of this financial year, the demand supply situation shifted in favour of the former. Domestic consumption and export volumes stood at 27.6 m as compared to 27.4 m of production volumes; led by larger disposal of inventory of previous months. The same is reflected in the form of higher realizations for steel makers, leading to better profitability. The trend is expected to continue on the back of the key prices of input costs (coking coal) remaining subdued.

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