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Global Stock Market Drivers; HUL, Reliance Industries Q3FY19 Results and Top Stocks in Action Today
Fri, 18 Jan Pre-Open | Rini Mehta, TM Team

On Thursday, the Indian share markets were trading in a narrow range in afternoon trade amid weakness in public sector banks (PSU) and pharmaceuticals stocks.

At the closing bell, the Sensex ended up 53 points at 36375, while Nifty was up 15 points at 10,905.

HCL Tech and Axis Bank were the top gainers on the Sensex, while top losers were Sun Pharma and Yes Bank.

The rupee moved in a range of 71.09-71.37 against the US dollar. The domestic unit had settled at 71.24 against the greenback on Wednesday.

Top Stocks in Focus

L&T share price will be in focus today as Larsen & Toubro (L&T) Hydrocarbon Engineering has bagged two projects from the world's largest oil company Saudi Aramco.

Federal Bank reported a 28% rise in its year-on-year net profit for the December quarter at Rs 33.4 billion from Rs 2.6 billion last year.

Bharat Heavy Electricals Limited will set up a network of Solar-based Electric Vehicle Chargers (SEVC) on the Delhi-Chandigarh Highway. The project is covered under the Faster Adoption and Manufacturing of Electric Vehicles in India of the Department of Heavy Industry (DHI).

Zydus Cadila has received the final approval from the US Food and Drug Administration (USFDA) to market Acetazolamide ER Capsules. It will be manufactured at the group's formulations manufacturing facility at Moraiya, Ahmedabad. Cadila Healthcare will be in focus.

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

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Results Corner

L&T Infotech, Dhanlaxmi Bank, Kajaria Ceramics, Wipro, MPS, Atul, HUL, Reliance Industries are among a few companies that will report its Q3FY19 results today.

Global Stock Market Drivers

On Thursday, US equity futures and European shares fell after a mixed session in Asia as concerns about rising tension between America and China offset signs of a better-than-expected start to the earnings season.

Further, emerging market currencies and shares declined. Shares in Hong Kong tumbled, with some companies dropping more than 75%.

The dollar was steady, and Treasuries edged higher.

Here are some key events coming up:

  • Earnings season rolls on with Morgan Stanley and Netflix posting results.
  • Data on US jobless claims and industrial production are due.
  • Eurozone inflation is scheduled today

Oil Prices Slide

Oil prices dipped on Thursday as US crude production quickly approached an unprecedented 12 million barrels per day (bpd) just as worries about weakening demand emerge.

US West Texas Intermediate (WTI) crude futures were at US$52 per barrel, down 0.6%, from their last settlement.

International Brent crude oil futures were down 0.6%, at US$60.98 per barrel.

American crude oil production reached a record 11.9 million bpd in the week ending January 11, the Energy Information Administration (EIA) said on Wednesday, up from 11.7 million bpd last week, which was already the highest national output in the world.

Note that, US output has soared by 2.4 million bpd since January 2018, stoking fears of a supply glut.

From the IPO Space...

As per an article in a leading financial daily, after a three-month drought in the Indian primary market, several companies, including cables and consumer electronic goods maker Polycab Wires Pvt. Ltd and hotel operator Chalet Hotels Ltd, are gearing up for their public offers.

Besides, Polycab and Chalet Hotels, Harsha Engineers Ltd, Dodla Dairy Ltd and Indiamart Intermesh Ltd are also looking to launch IPOs.

The Indian equity markets witnessed extreme ups and downs during the three months owing to the liquidity crisis in the NBFC space, macroeconomic headwinds, such as a depreciating rupee and high crude price, and concerns over state election results.

With so many IPOs set to hit the markets, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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Stock Market Updates

GRANULES INDIA at All Time High; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Aug 6, 2020 03:22 PM

GRANULES INDIA share price has hit an all time high at Rs 328 (up 3.0%). The BSE HEALTHCARE Index is up by 1.1%. Among the top gainers in the BSE HEALTHCARE Index today are GRANULES INDIA (up 3.0%) and PROCTER & GAMBLE HEALTH . The top losers include JUBILANT LIFE SCIENCES and LAURUS LABS LTD (down 0.2%).

BAJAJ CONSUMER CARE Share Price Up by 6%; BSE FMCG Index Up 1.5% (Today's Market)

Aug 6, 2020 03:16 PM

BAJAJ CONSUMER CARE share price is trading up by 6% and its current market price is Rs 181. The BSE FMCG is up by 1.5%. The top gainers in the BSE FMCG Index are BAJAJ CONSUMER CARE (up 5.7%) and GSK CONSUMER (up 5.1%). The top losers are JYOTHY LABS (down 0.1%) and P&G HYGIENE (down 0.2%).

ALEMBIC PHARMA Share Price Up by 5%; BSE HEALTHCARE Index Up 1.1% (Today's Market)

Aug 6, 2020 03:06 PM

ALEMBIC PHARMA share price is trading up by 5% and its current market price is Rs 1,059. The BSE HEALTHCARE is up by 1.1%. The top gainers in the BSE HEALTHCARE Index are ALEMBIC PHARMA (up 5.3%) and AUROBINDO PHARMA (up 5.5%). The top losers are DR. REDDYS LAB (down 0.4%) and PFIZER (down 0.4%).

HIMATSINGKA SEIDE Share Price Down by 5%; BSE 500 Index Up 0.7% (Today's Market)

Aug 6, 2020 02:58 PM

HIMATSINGKA SEIDE share price is trading down by 5% and its current market price is Rs 74. The BSE 500 is up by 0.7%. The top gainers in the BSE 500 Index are CAPLIN POINT (up 10.0%) and PRESTIGE ESTATES (up 8.4%). The top losers are HIMATSINGKA SEIDE (down 5.3%) and BASF INDIA (down 5.3%).

MUTHOOT FINANCE Share Price Down by 5%; BSE 500 Index Up 0.7% (Today's Market)

Aug 6, 2020 02:52 PM

MUTHOOT FINANCE share price is trading down by 5% and its current market price is Rs 1,325. The BSE 500 is up by 0.7%. The top gainers in the BSE 500 Index are CAPLIN POINT (up 9.4%) and TATA CONSUMER PRODUCTS (up 7.4%). The top losers are MUTHOOT FINANCE (down 5.0%) and GULF OIL LUBRICANTS (down 6.9%).

Sensex Trades in Green; RBI Keeps Repo Rate Unchanged at 4% (Today's Market)

Aug 6, 2020 12:30 pm

The BSE Sensex is trading up by 265 points, while the NSE Nifty is trading up by 77 points.

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