Asian equity markets are higher today as Chinese and Hong Kong shares show gains. The Shanghai Composite is up 0.35%, while the Hang Seng is up 1.02%. The Nikkei 225 is trading up by 0.27%. The US stocks ended mostly higher led by gains in technology stocks as investors were optimistic ahead of earnings.
Meanwhile, share markets in India have opened the day on a positive note. The BSE Sensex is trading higher by 60 points, while the NSE Nifty is trading higher by 24 points. The BSE Mid Cap Index and BSE Small Cap index both opened the day up by 0.2%.
Barring consumer durables stocks and metal stocks, all sectoral indices have opened the day in the green with information technology stocks and automobile stocks leading the pack of gainers. The rupee is trading at 64.54 to the US$.
Tata Motors share price surged 2% after the company said that the sales of its luxury unit Jaguar Land Rover (JLR) rose 11% to 51,591 in June over last year, driven by healthy China market.
Jet Airways share price rose 1.9% on the reports that global airlines Lufthansa, KLM-Air France, and Delta as well as major private equity funds including the Blackstone Group, KKR & Co and TPG Capital are in the race to acquire a stake in Indian carrier Jet Airways.
According to a report in The Economic Times, the companies are looking to invest US$200-250 million in the country’s second largest airline.
Steel stocks opened the day on a mixed note with Tayo Rolls Ltd and Jindal Saw Ltd leading the gains. As per an article in a leading financial daily, Tata Steel has commissioned a solar power plant at its iron ore mines in Noamundi, as part of its initiative towards reducing carbon footprint.
The company set up a 3 MW Solar Photovoltaic (PV) Power Plant at Noamundi, at an investment of Rs 0.35 billion.
