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Markets trade on a choppy note
Wed, 2 Sep 01:30 pm

After trading on a flat note during the morning session Indian Indices continued to witness marginal movements in the post-noon trading session. Sectoral indices are trading on a mixed note with stocks from the banking and power sector leading the losses.

The BSE-Sensex is trading up by 10 (0.04%) and the NSE-Nifty is trading up by 5 points (0.07%). The S&P BSE Midcap index is trading up by 0.2% and the S&P BSE Smallcap index is trading up by 0.7%. Gold prices, per 10 grams, are trading at Rs 26,788 levels. Silver price, per kilogram, is trading at Rs 34,447 levels. Crude oil is trading at Rs 2,982 per barrel. The rupee is trading at 66.15 to the US dollar.

Stocks in the automobile space are trading on a mixed note with Mahindra & Mahindra and Ashok Leyland leading the losses. As per an article in Economic Times, country's largest car maker Maruti Suzuki is all set to launch its first ever light commercial vehicle (LCV) during the current fiscal despite declining sales in the segment. These LCV's will be sold through a separate network and will be launched in few states first as a pilot project, the company reported. Further commenting on the passenger vehicle sales, the company said it is planning to reach out to 1.5 lakh villages this fiscal. The company currently gets one third of its sales from rural areas. Presently the stock of company is trading marginally up.

Most of the software stocks are trading positively with CMC Ltd and Tech Mahindra witnessing maximum buying interest. As per a leading financial daily, India's second-largest information technology (IT) services company Infosys is planning to bring up more automation in all its new projects by the end of this fiscal. The company has already implemented its in-house tool, Infosys automation platform, in 11 client projects involving around 1,100 people. By this, the company further plans to implement the same in 45 projects. Further, on a separate note, the company has expressed its plans of touching US$ 20 bn in revenues with operating margins of about 30%. This would be primarily on the back of an improvement in revenue productivity. Stock of Infosys is trading up by nearly 1.8%.

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