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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Markets Trade Flat
Fri, 15 Jan 01:30 pm

Indian indices are trading flat in the post noon trading session. Sectoral indices are trading on a mixed note with stocks from the telecom, realty and power sectors bearing the maximum brunt.

The BSE Sensex is trading lower by 31 (down 0.1%) and the NSE Nifty is trading down by 8 points (down 0.1%). The BSE Mid Cap index is trading lower by 0.4% while the BSE Small Cap index is trading down by 0.6%. Gold prices, per 10 grams, are trading at Rs 25,790 levels. Silver price, per kilogram, is trading at Rs 33,773 levels. Crude oil is trading at Rs 2,053 per barrel. The rupee is trading at 67.43 to the US$.

Automobile stocks are trading on a mixed note with Tata Motors and Bajaj Auto leading the losses. As per a leading financial daily, Mahindra & Mahindra (M&M) has tied-up with online shopping major Flipkart, CarNbike.com, an automotive micro-site and M2all, its in-house online portal to sell its small SUV 'KUV 100. The initiative is aimed at the youth and the first time car buyers. The booking for the vehicle will commence once KUV 100 is launched.

Earlier, the company had tied up with Snapdeal to offer Scorpio on sale online. The tie-up recorded 3 million hits and sold about 100 units.

With the above initiatives coupled with new product launches, the outlook for the company stands tall. As Radhika Pandit states in the result analysis report of the company (subscription required), "Although the growth of UVs has been slow, the company expects the scenario to improve going forward backed by new product launches. While the LCV segment as a whole has been de-growing, growth in certain segments within the LCV segment could ramp up (especially the 3.5 to 7T) category."

Presently the stock of M&M is trading flat.

Stocks in the energy sector are trading on a positive note with BPCL and Reliance Industries leading the gains. As per an economic daily, India's demand for fuel rose 8.3% during the month of December on a YoY (year-on-year) basis. The rise in demand was driven by higher gasoline consumption as passenger vehicles sales rose on the back of year-end deals and discounts in December.

Data from the Petroleum Planning and Analysis Cell (PPAC) of the oil ministry showed that India consumed 15.8 million tonnes of fuel last month. Consumption of gasoil or diesel, which comprises about 40% of refined fuels used in India, rose 5.4% to 6.5 MT (million tonnes) during the period. Sales of petrol, surged 11.8% from a year earlier to 1.8 MT. This was seen as passenger car sales in the month rose nearly 13% and the fuel became cheaper on the back of plunging crude prices. Cooking gas or liquefied petroleum gas (LPG) sales increased 6.2% to 1.7 MT, while naphtha sales were 24.8% higher at 1.1 MT. Lastly, sales of bitumen, used on roads, were up 11.2%, while fuel oil use rose 12.6% during December.

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S&P BSE SENSEX


Aug 18, 2017 01:14 PM

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