Indian equity markets continued
their winning streak on the fourth consecutive trading session, tracking rupee
strengthening against dollar. Sensex touched 20,000 level for the 1st
time since 25 July. Indian benchmark indices gained over 3.65% in the intraday
trade today. Sensex ended the day at 19,974 surged over 700 points while Nifty
rallied over 200 points and ended at 5,896.
Trade deficit in August dropped
to USD 10.91 billion from USD 12.27 billion in previous month. Imports declined
to USD 37.05 billion from USD 38.10 billion while exports increased to USD
26.14 billion from USD 25.83 billion during the same period. Gold imports fell
to USD 0.65 billion in August from USD 2.20 billion in July.
Tata Motors rallied after its UK
subsidiary Jaguar Land Rover's August sales rose 28% to 27,852. Total sales of
its subsidiary for the period of January-August sales are now up 16%.
Telecom shares surged after the
Telecom Regulatory Authority of India (TRAI) on Monday proposed a 37% reduction
in base price, from Rs 2,379cr to Rs 1,496cr per MHz of pan India spectrum.
Among the sectoral indices CNX
Auto gained 5.98% followed by CNX FMCG (5.38%) and CNX MNC (4.55%). All other
major sectoral indices ended in positive territory.
Out of 50 stocks of Nifty 41
stocks advanced while 9 stocks declined.
Top 5 Nifty gainers: Tata Motors
(9.82%), Bharti Airtel (8.37%), Ambuja cement (7.66%), Hero Motorcorp (7.19%)
and ACC (7.02%) were top index gainers.
Top 5 Nifty losers: NMDC
(-2.27%), BPCL (-1.50%), BOB (-1.35%), CAIRN (-1.28%) and Dr. Reddy (-0.86%)
were top index laggards.
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