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14/06/2011 00:00 AST
The Indian stock market indices have been trading weak over the last two hours of trade on the back of selling witnessed in index heavyweights. Auto and pharma stocks are leading the pack of losers while stocks from the capital goods space are trading firm.
The BSE-Sensex is down by 49 points while NSE-Nifty is trading 10 points below yesterday's closing. BSE Midcap and BSE Small cap indices are trading almost flat. The rupee is trading at 44.72 to the US dollar.
Energy stocks are trading in the red led by BPCL and HPCL. As per a leading financial daily, GAIL India and Karnataka State Industrial & Infrastructure Development Corp (KSIIDC) have signed a joint venture (JV) agreement to jointly pursue natural gas distribution business in Karnataka. As per the agreement, the JV company will have an authorized share capital of Rs 1 bn. GAIL and KSIIDC will have equity shares of 26% and 24% respectively in the company. The company will focus on setting up of natural gas infrastructure in industrial estates, city gas distribution (CGD) networks, distributed power generation projects in industrial areas and gas distribution infrastructure downstream of trunk lines in the state. The gas supply to the cities will be taken care of by GAIL India's trunk pipelines.
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Equitymaster
| Ticker | Price | Volume |
|---|
| Index | Closing | Change |
|---|---|---|
| NIKKEI 225 | 36,581.76 | -251.51 (-0.68 |
| DAX | 18,699.40 | 181.01 (0.97 |
| S&P 500 | 5,626.02 | 30.26 (0.54 |
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