Indian markets ends lower; IT stocks rebound earlier losses
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Eicher Motors was trading at Rs 22,399.95 down by 66 points or 0.29% despite its Royal Enfield selling around 53,378 motorcycles in the month of July this year, a growth of 31% from the similar period of the previous year.
Larsen and Toubro slumped by 53.55 points or 3.44% to Rs 1504.45 despite of winning orders worth Rs 1167 Crores. However, the company opened at Rs 1561 higher from its previous closing of Rs 1558.
Tech Mahindra was trading below 4 points or 0.79% to Rs 482.85 ahead of its June quarter result announcement. The investors were cautious in dealing with this share as they feared the company might perform negatively after seeing Infosys and Wipro's results.
European markets are higher today. The DAX is up 0.88% while the FTSE 100 gains 0.45%. The CAC 40 is also up by 0.71%.
Advanced Enzyme Tech listed its equity shares on exchanges on Monday. The share price of the company were trading at Rs 1236.60, up 2.20% or Rs 26.60 per piece. During the early trading session, the shares touched a high at Rs 1242.75 and low at Rs 1200.
Maruti Suzuki surged over 111 points or 2.35% to Rs 4866.90 on reporting robust July sales. Maruti Suzuki- the one of the largest carmaker in India, has sold 1,37,116 units in July, 2016, registering growth of 12.7% compared to 1,21,712 units in the corresponding period of the previous month.
Information Technology sector finally makes a comeback after slumping in past few weeks post Brexit and weak June quarter (Q1FY17) performance. The index is above 175 points or 1.62% at 10,988.25. The major market movers such as Tata Consultancy Services and Wipro were trading as top gainers on BSE exchange. TCS has surged nearly 3.82% to Rs 2716.05 and Wipro was up 2.34% to Rs 558.05.
Well look here what we have got, Indian markets shrugs off their previous weeks tumble and re-coups their position by touching again a new high. BSE is trading above 172 points at 28,224, while NSE has crossed over 8700 mark. Now the NSE is above 54 points to 8692.30.
Indian rupee was trading above 0.030 paise or 0.04% to 66.730 against US dollar. The Indian rupee opened at 66.65.
Asian markets are mixed today as china market separate itself from other gainers. The Shanghai Composite is below 1.36% while the Hang Seng is up 1.44% and the Nikkei 225 is above 0.49%.