Indian markets end on a flat note

Thu, 1 Oct Closing

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After opening the day's proceedings on a positive note, Indian markets lost some ground and remained range bound for the majority part of the day, closing the day above the dotted line. While BSE-Sensex was seen up by 72 points, NSE-Nifty closed higher by 2 points. The mid and small cap indices too finished in the green. The S&P BSE Midcap and the S&P BSE Smallcap indices ended the trading day up by 0.2% each. Sectoral indices closed the day on a mixed note with healthcare and consumer durables sector leading the gains while power and realty sectors lead the losses.

Asian stock markets finished broadly higher today with shares in Japan leading the region. The Nikkei 225 is up 1.92%, Hong Kong's Hang Seng up 1.28% and China's Shanghai Composite is up 0.48%. European markets too opened higher today with shares in London leading the region. The rupee was trading at 65.55 against the US$ in the afternoon session.

Automobile stocks ended the trading day with moderate losses with Maruti Suzuki and Mahindra & Mahindra bearing majority of the brunt. According to a leading financial daily, Maruti Suzuki India has registered a rise of 3.7% in its total car sales for the month of September 2015 at 113,759 units as against 109,742 units in 2014. The company's domestic sales rose by 6.8% YoY in 2015 at 106,083 units as against 99,290 units in corresponding month last year. Of the total, the company has sold 87,916 units of its passenger cars during last month, up by 7.9% as against 81,447 units in 2014. The company's sales of vans decreased by 0.2% to 11,836 units as against 11,863 units in 2014. Moreover, the company's sales of its utility vehicles rose by 5.9% to 6,331 units from 5,980 units in 2014. Meanwhile, the company's exports have decreased by 26.6% to 7,676 units as against 10,452 units in 2014. The scrip of Maruti Suzuki ended the trading day down by 2.2% on the BSE.

According to a leading financial daily, Crompton Greaves has bagged an order worth Rs 4.1 bn from an Indonesian government owned corporation PT PLN for the manufacture and supply of power transformers. The scope of work includes design, manufacture, supply, construction and installation of power transformers in the range of 30 Mega Volt Ampere (MVA) to 268 MVA. They will be installed in Java, Sumatra, Kalimantan and Makassar islands of Indonesia. The project is aimed at enhancing the performance of PT PLN's transmission grid. Crompton Greaves has approximately US$ 93 m worth of orders already booked in the first half of the current year.