Stock markets in India were stuck in a narrow trading range for the third consecutive trading session as the struggle for specific direction prolonged. Market participants remained cautious ahead to new Federal Reserve Chair Janet Yellen's first testimony before lawmakers.
Meanwhile, exports posted a sluggish 3.79% growth in January 2014 to US$26.75bn compared to the same month last year. Gold & silver imports fell by 77% during the month to US$1.72bn responding to higher import duties and other restrictions imposed by the Government pulling down total imports by 18.07% to US$36.67bn. As a result, trade deficit almost halved to US$9.92bn in January 2014 compared to US$18.87bn in January 2013.
Car sales in India fell for the fourth straight month in January this year with a decline of 7.59%. domestic car sales stood at 1,60,289 units in January this year compared to 1,73,449 vehicles in the same month of 2013. Compounding the problem for the auto industry was the prolonged slump in the commercial vehicles segment, under which heavy and medium CVs saw 23rd month of consecutive drop in sales.
Coming back to today’s action, the markets ended with modest gains on Tuesday led by the IT, Telecom, Auto and the Consumer Durables stocks. Even the mid-cap and the small-cap stocks were trading higher.
On the other hand, Power, Oil and Gas, Realty ann the Pharma stocks were under selling pressure.
Finally, the BSE Sensex closed at 20363 up 29 points while the NSE Nifty ended higher by 9 points to close at 6063 compared with the previous closing.
Meanwhile, exports posted a sluggish 3.79% growth in January 2014 to US$26.75bn compared to the same month last year. Gold & silver imports fell by 77% during the month to US$1.72bn responding to higher import duties and other restrictions imposed by the Government pulling down total imports by 18.07% to US$36.67bn. As a result, trade deficit almost halved to US$9.92bn in January 2014 compared to US$18.87bn in January 2013.
Car sales in India fell for the fourth straight month in January this year with a decline of 7.59%. domestic car sales stood at 1,60,289 units in January this year compared to 1,73,449 vehicles in the same month of 2013. Compounding the problem for the auto industry was the prolonged slump in the commercial vehicles segment, under which heavy and medium CVs saw 23rd month of consecutive drop in sales.
Coming back to today’s action, the markets ended with modest gains on Tuesday led by the IT, Telecom, Auto and the Consumer Durables stocks. Even the mid-cap and the small-cap stocks were trading higher.
On the other hand, Power, Oil and Gas, Realty ann the Pharma stocks were under selling pressure.
Finally, the BSE Sensex closed at 20363 up 29 points while the NSE Nifty ended higher by 9 points to close at 6063 compared with the previous closing.
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