After opening the day in green, share markets in India witnessed volatile trading activity throughout the day and ended the day in the red. Sectoral indices ended the day mixed, with stocks in the IT sector and stocks in the healthcare sector leading the losses.
At the closing bell, the BSE Sensex stood lower by 173 points and the NSE Nifty closed down by 47 points. The BSE Mid Cap index ended the day up 0.5%, while the BSE Small Cap index ended the day down by 0.1%.
Asian stock markets finished mixed. As of the most recent closing prices, the Hang Seng was up by 0.3% and the Shanghai Composite was down by 0.3%. The Nikkei 225 was up by 0.2%. Meanwhile, European markets were trading on a negative note. The FTSE 100 was down by 0.7%, The DAX, was down by 0.1% while the CAC 40 was down by 0.1%.
The rupee was trading at Rs 70.53 against the US$ in the afternoon session. Oil prices were trading at US$ 76.45 at the time of writing.
In news from stocks in the auto sector. Mahindra & Mahindra (M&M) share price is in focus today after the company said that Fiat Chrysler Automobile US has filed a patent violation complaint against M&M. Fiat has filed the complaint with the US-based International Trade Commission (ITC).
However, M&M in a regulatory filing said that the complaint is without merit and the company and its US subsidiary Mahindra Automotive North America (MANA) has filed a public interest statement with the ITC. The complaint says that certain design features of the details of Mahindra ROXOR infringe the intellectual property rights of Fiat’s Jeep design as it was modeled after the original Willys Jeep.
Fiat is seeking an order for permanently restraining the company from exporting, and compensation and penalty; MANA from importing, any parts or components which are infringing upon Fiat’s intellectual property rights into the US.
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