Indian markets trade in the positive

Fri, 9 Oct 01:30 pm

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After opening the day on a firm note, the Indian Indices have come off their day's high in the post noon trading session. However, they continue to trade in positive territory. Sectoral indices are trading on a positive note with stocks from the metals and capital goods sectors leading the gains.

The BSE-Sensex is trading up 113 points (up 0.4%) and the NSE-Nifty is trading up 27 points (up 0.3%). The BSE Mid Cap index is trading down 0.2% while the BSE Small Cap index is trading flat. Gold prices, per 10 grams, are trading at Rs 26,516 levels. Silver price, per kilogram is trading at Rs 37,076 levels. The rupee is trading at 64.84 to the US$.

As we told you, Asad Dosani, the editor of Alpha Trader, has already started disclosing the key details of his latest trading strategy to make "Income at Will" in a Master Series. The strategy will use options on the Nifty index which are used by banks and professionals to make regular income. As is always the case, the strategy has been thoroughly back tested by Asad. And the back testing showed some unbelievable results! Moreover, Nifty Index, being the largest options market in the world provides tons of opportunity to make money. This master series will be available for viewing all of today and tomorrow.

As per a leading financial daily, domestic passenger car sales rose 9.48% to 1,69,590 units in the month of September from 1,54,898 units in the same month a year ago. However, motorcycle sales declined 2.87% to 10,20,237 units on a YoY (year-on-year) basis.

Furthermore, the total two-wheeler sales in September declined 1.06% to 15,37,137 units on a YoY basis. Sales of commercial vehicles were up 12.07% in September. Vehicles sales across categories registered a 0.45% decline to 18,81,673 units on a YoY basis. The abovementioned data was released by Society of Indian Automobile Manufacturers (SIAM).

As per Radhika Pandit, the Managing Editor for ValuePro, one of the major reasons for the fall in two-wheeler sales could be the weak rural demand as the monsoons this season were erratic. Commercial vehicles, however, continue to do better on a lower base, which is not surprising considering that this particular segment was severely hit by the economic slowdown in the previous two fiscals.

Presently auto stocks are trading mixed with Maharashtra Scooters and Tata Motors witnessing maximum buying interest.

As per an article in Business Standard, Bharti Airtel has announced launch of its Wi-Fi app- Airtel Hangout. The app enables the customers to seamlessly latch on to the network to experience faster internet speeds. With big focus on Wi-Fi zones, the company has already gone live across 8 locations in Delhi in a short span of time.

The company has also launched its Platinum 3G network in Chhattisgarh. With the launch, the company had covered over 80% areas in both Madhya Pradesh and Chhattisgarh to open rural service centre that would facilitate better services to the villagers. Telecom stocks are trading mixed with Reliance Communications and ITI Ltd leading the losses. Scrip of Bharti Airtel is trading up by 0.7% on the BSE.