Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

Helping You Build Wealth With Honest Research
Since 1996. Try Now

  • MyStocks

MEMBER'S LOGINX

     
Login Failure
   
     
   
     
 
 
 
(Please do not use this option on a public machine)
 
     
 
 
 
  Sign Up | Forgot Password?  

Indian Indices Witness Selling, December Manufacturing PMI, and Top Cues in Focus Today
Thu, 3 Jan Pre-Open | Monish Vora, TM Team

Share markets in India ended their trading session deep in the red yesterday. All sectoral indices ended in the red with stocks in the metal sector and auto sector witnessing most of the selling pressure.

At the closing bell yesterday, the BSE Sensex stood lower by 363 points (down 1%) and the NSE Nifty closed down by 118 points (down 1.1%). The BSE Mid Cap index ended the day down 1.3%, while the BSE Small Cap index ended the day down 0.7%.

Top Stocks in Focus Today

From the automobiles sector, Eicher Motors share price will be in focus today as Royal Enfield, the motorcycle franchise owned by the company, reported a 13% YoY decline in total sales at 58,278 units in December 2018.

Total motorcycle sales declined by 5.9% at 194,473 units, against 206,585 units sold in the previous year's quarter.

M&M share price will also be in focus today on disappointing sales numbers reported by the company for December 2018 due to tight liquidity and low buying sentiment. According to reports, the company sold 17,404 units of tractors in December, down 6% as compared to 18,488 units sold in the same month last year. Domestic tractor sales were down 2% YoY to 16,210 units, while exports sales almost halved to 894 units in the month of December against 1,633 units in the previous year.

To know more about the company, you can read M&M Q2FY19 result analysis and M&M annual report on our website.

From the airlines sector, market participants will also be tracking Jet Airways share price today as the cash-strapped airline has delayed on debt payments to banks led by SBI. The airline has delayed the payment to a consortium of Indian banks, led by State bank of India.

Last month, Jet was in talks with the SBI for raising Rs 15 billion short-term loan to meet its working capital requirement and some payment obligations.

--- Advertisement ---
Don't Buy Any Stock Before You Read All About These 4 Junior Blue Chips…

Here's wishing you a prosperous 2019…

In fact, here's the first step we recommend that you take this year…BEFORE you buy any stock!

Richa – Editor of our small cap stock recommendation service – Hidden Treasure – has identified 4 small caps which have SOLID business models…immense growth potential…and are available at deep discounts from their real worth.

She calls these stocks – The Junior Blue Chips.

In other words, a small caps which have the potential to become the Blue Chips of tomorrow.

So, before you buy even a single new stock, make sure that you go through full details on this exceptional opportunity.

Click Here To Know All About Richa's Junior Blue Chips…
------------------------------

To know more about the company, you can access to Jet Airways' latest result analysis and Jet Airways' 2017-18 Annual Report Analysis on our website.

Speaking of the airlines sector, note that domestic airlines have been struggling to make profit because of a rise in operating costs.

The new year began on a positive note for domestic airlines as state oil marketing companies (OMCs) slashed aviation turbine fuel (ATF) prices by 14.7%.

This is the second consecutive drop in jet fuel price and the sharpest cut since November 2008.

The surge in crude oil prices led to the domestic airlines posting a loss of 23.4 billion in the September quarter.

Reports state that in the first half of FY19, the listed airlines together lost around Rs 0.2 billion per day collectively registering a loss of Rs 36.4 billion.

Crude oil prices, however, are on a decline over the last few weeks over concerns of a supply glut.

It would be interesting to see how this trend follows in 2019. Meanwhile, we will keep you updated on all the developments from this space.

Manufacturing PMI Expands in December

In the news from the macroeconomic space, Indian manufacturing activity expanded at a slower pace in December. This was seen as growth in new orders and output waned, despite factories cutting their prices.

Going by the numbers, the Nikkei Manufacturing Purchasing Managers' Index, compiled by IHS Markit, declined to 53.2 in December, below November's 54.0 reading.

This, however, was above the 50 mark, which separates growth from contraction, for a 17th month. Also, manufacturing activity registered its strongest quarterly performance since late 2012.

Although new orders and output expanded at a slower rate last month, both remained well into expansion territory for more than a year, supported by weaker inflationary pressures.

December also saw the weakest increase in input costs for nearly three years, giving factories room to cut their prices for the first time since July 2017.

Despite a strong performance in 2018, the survey indicated manufacturing firms were turning cautious. Hiring in December slowed as optimism waned amid uncertainty ahead of a national election scheduled for May.

It would be interesting to see how the manufacturing activity performance pans out in the coming months. Meanwhile, we will keep you updated on all the developments from this space.

From the GST Space...

In the news from Goods and Services Tax (GST) space, as per a leading financial daily, the GST Council is slated to meet on January 10 to discuss lowering GST on under-construction flats and houses to 5%.

Along with that, it is also going to consider hiking exemption threshold for small and medium enterprises.

The council, in its previous meeting on December 22, 2018, had rationalised the 28% tax slab and reduced rates on 23 goods and services.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


What else is happening in the markets today? Dig in...

Equitymaster requests your view! Post a comment on "Indian Indices Witness Selling, December Manufacturing PMI, and Top Cues in Focus Today". Click here!

  

Stock Market Updates

PERSISTENT SYSTEMS at All Time High; BSE IT Index Down 1.0% (Today's Market)

Aug 3, 2020 02:01 PM

PERSISTENT SYSTEMS share price has hit an all time high at Rs 975 (up 4.8%). The BSE IT Index is down by 1.0%. Among the top gainers in the BSE IT Index today are PERSISTENT SYSTEMS (up 4.8%) and ORACLE FINANCIAL (up 0.9%). The top losers include CYIENT (down 0.1%) and NIIT TECHNOLOGIES (down 0.3%).

G.E.SHIPPING Share Price Up by 10%; BSE 500 Index Down 0.8% (Today's Market)

Aug 3, 2020 01:59 PM

G.E.SHIPPING share price is trading up by 10% and its current market price is Rs 249. The BSE 500 is down by 0.8%. The top gainers in the BSE 500 Index are G.E.SHIPPING (up 10.1%) and AMBER ENTERPRISES INDIA LTD (up 16.8%). The top losers are NESTLE and J.B.CHEMICALS .

BLISS GVS PHARMA Share Price Up by 11%; BSE 500 Index Down 0.8% (Today's Market)

Aug 3, 2020 01:57 PM

BLISS GVS PHARMA share price is trading up by 11% and its current market price is Rs 119. The BSE 500 is down by 0.8%. The top gainers in the BSE 500 Index are BLISS GVS PHARMA (up 11.3%) and AMBER ENTERPRISES INDIA LTD (up 16.8%). The top losers are J.B.CHEMICALS and CYIENT .

ERIS LIFESCIENCES LIMITED Share Price Up by 11%; BSE HEALTHCARE Index Up 1.9% (Today's Market)

Aug 3, 2020 12:27 PM

ERIS LIFESCIENCES LIMITED share price is trading up by 11% and its current market price is Rs 547. The BSE HEALTHCARE is up by 1.9%. The top gainers in the BSE HEALTHCARE Index are ERIS LIFESCIENCES LIMITED (up 11.3%) and LAURUS LABS LTD (up 10.9%). The top losers are SUN PHARMA (down 0.2%) and DR. LAL PATHLABS LTD (down 0.4%).

JUBILANT LIFE SCIENCES Share Price Up by 11%; BSE 500 Index Down 0.4% (Today's Market)

Aug 3, 2020 12:11 PM

JUBILANT LIFE SCIENCES share price is trading up by 11% and its current market price is Rs 888. The BSE 500 is down by 0.4%. The top gainers in the BSE 500 Index are JUBILANT LIFE SCIENCES (up 10.9%) and AMBER ENTERPRISES INDIA LTD (up 15.8%). The top losers are SHREE CEMENT and ICICI PRUDENTIAL LIFE INSURANCE .

Sensex Opens Lower; Banking and Energy Stocks Under Pressure (Today's Market)

Aug 3, 2020 09:30 am

Indian share markets open lower. The BSE Sensex opened down by 300 points, while the Nifty is trading down by 69 points.

View More Indian Share Market News

Most Popular

Why the Stock of HDFC Bank Deserves a Closer Look than Before...(Profit Hunter)

Jul 22, 2020

HDFC Bank's results point to a gaping hole in Indian financial sector. Possibly even a global contagion.

My Best Trading Ideas When Interest Rates Are So Low(Fast Profits Daily)

Jul 23, 2020

India's interest rates are lower than the inflation rate. Here are the best trades for this situation.

The Smallcap Stock that Made Me Change My Asset Allocation Rule(Profit Hunter)

Jul 21, 2020

I believe this smallcap niche leader could deliver a non-linear payoff.

Gold or Silver: Which One Should You Buy Now?(Fast Profits Daily)

Jul 24, 2020

Silver and gold are both vying for your attention. Which is the better trade today?

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
Get this special report, authored by Equitymaster's top analysts now!
We will never sell or rent your email id.
Please read our Terms

S&P BSE SENSEX


Aug 3, 2020 02:57 PM

MARKET STATS