Sign up for Equitymaster's free daily newsletter, The 5 Minute WrapUp and get access to our latest Multibagger guide (2019 Edition) on picking money-making stocks.

This is an entirely free service. No payments are to be made.

Download Now Subscribe to our free daily e-letter, The 5 Minute WrapUp and get this complimentary report.
We hate spam as much as you do. Check out our Privacy Policy and Terms Of Use.
Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster

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

  • MyStocks


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

Indian Indices Open Marginally Lower; Consumer Durables & Energy Stocks Drag
Mon, 18 Feb 09:30 am | Monish Vora, TM Team

Asian share markets are higher today as Chinese and Hong Kong shares show gains. US stocks rallied on Friday with the Dow and the Nasdaq posting eighth straight weekly gains.

Back home, India share markets have opened the day marginally lower. The BSE Sensex is trading down by 142 points while the NSE Nifty is trading down by 45 points. The BSE Mid Cap index and BSE Small Cap index opened down by 0.2% & 0.4% respectively.

Sectoral indices opened on a mixed note with stocks in the consumer durables sector and energy sector witnessing selling pressure while realty stocks, power stocks and metal stocks are witnessing buying interest.

The rupee is currently trading at Rs 71.36 against the US$.

In the news from the commodity space, oil prices rose to their highest levels since November last year, lifted by OPEC-led supply cuts and US sanctions on Iran and Venezuela.

Last Friday, Brent crude futures recorded fresh 2019 highs on back of the above news. Brent pushed above $65 per barrel for the first time in 2019.

The Organization of the Petroleum Exporting Countries (OPEC), as well as some non-affiliated producers like Russia, agreed late last year to cut output by 1.2 million barrels per day (bpd) to prevent a large supply overhang from swelling more.

The US-China trade row has surely been a concern for oil bulls, lowering global economic gain and thereby restricting new oil demand.

Reportedly, the two nations met on Friday and have more talks coming this week. The most bearish oil factor out there is the booming production coming from the US shale industry.

Also at the radar are hopes expressed by US and Chinese officials that a new round of talks, which began in Beijing on Monday, would bring them closer to easing their months-long trade war.

Speaking of crude oil, almost every time, a rise or fall in the stock markets is invariably linked to crude oil prices. Have a look at the chart below:

Are Stock Market Returns Really Linked to Crude Oil Prices?

Here's what Girish Shetty wrote about it on one of the recent editions of The 5 Minute WrapUp...

  • In the short-term: Yes.

    But in the long run, as we can see, Sensex returns have been independent of crude oil prices or even positively co-related!

    Crude oil prices doubled from US$ 41 in December 2008 to US$84 in April 2010. In the same time, Sensex also doubled from 8,800 levels to 17,600 levels.

    So, please don't fret unnecessarily about crude oil.

    Check if your business has a moat that helps it pass on input price increases to its customers. In the long run, they will survive and also gain market share from those that can't pass on prices. Short term pessimism due to rising crude oil prices provides a buying opportunity in these stocks.

As per him, focusing on quality stocks rather than crude oil will matter more in the long run.

Moving on to the news from the pharma space, Glenmark pharma share price is in focus today as the company's subsidiary - Glenmark Pharmaceuticals Inc., USA (Glenmark) has been granted final approval by the United States Food & Drug Administration (USFDA) for Clobetasol Propionate Foam, 0.05%, a generic version of Olux Foam, 0.05%, of Mylan Pharmaceuticals, Inc.

According to sales data for the 12-month period ending December 2018, the Olux Foam, 0.05% market achieved annual sales of approximately $50.9 million.

In another news, Alembic pharma share price will also be in focus today as the company has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) Moxifloxacin Ophthalmic Solution USP, 0.5%.

The approved ANDA is therapeutically equivalent to the reference listed drug product (RLD) Vigamox Ophthalmic Solution USP, 0.5%, of Novartis Pharmaceuticals Corporation.

Alembic pharma share price has opened the day up by 0.6%.

Speaking of pharma sector, note that the BSE Healthcare Index has been on a roller coaster ride in the past few years. The period from 2012 to 2015 saw the index go up more than three times.

We believe that pharma companies that invest in creating a pipeline of complex generics or building competencies in alternative dosage forms are better equipped to tackle the changing dynamics in the US generics market as well as in the overall industry.

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

Equitymaster requests your view! Post a comment on "Indian Indices Open Marginally Lower; Consumer Durables & Energy Stocks Drag". Click here!


Stock Market Updates

INDIABULLS REAL EST Surges by 6%; BSE REALTY Index Up 1.8% (Today's Market)

Mar 20, 2019 10:02 AM

INDIABULLS REAL EST share price has surged by 6% and its current market price is Rs 96. The BSE REALTY is up by 1.8%. The top gainers in the BSE REALTY Index is INDIABULLS REAL EST (up 5.5%). The top losers are MAHINDRA LIFESPACE and PHOENIX MILL (down 0.1%).

BHEL Surges by 5%; BSE CAPITAL GOODS Index Up 0.6% (Today's Market)

Mar 20, 2019 09:46 AM

BHEL share price has surged by 5% and its current market price is Rs 72. The BSE CAPITAL GOODS is up by 0.6%. The top gainers in the BSE CAPITAL GOODS Index is BHEL (up 5.1%). The top losers are LAKSHMI MACHINE (down 0.1%) and V GUARD INDUSTRIES (down 0.1%).

AXIS BANK at 52 Week High; BSE 500 Index Up 0.0% (Today's Market)

Mar 20, 2019 09:24 AM

AXIS BANK share price has hit a 52-week high. It is presently trading at Rs 766. BSE 500 Index is up by 0.0% at 15,193. Within the BSE 500, AXIS BANK (up 0.5%) and RELIANCE COMMUNICATIONS (up 10.0%) are among the top gainers, while top losers are JUBILANT LIFE SCIENCES and SREI INFRA FINANCE.

VA TECH WABAG Surges by 5%; BSE CAPITAL GOODS Index Up 0.4% (Today's Market)

Mar 20, 2019 09:20 AM

VA TECH WABAG share price has surged by 5% and its current market price is Rs 343. The BSE CAPITAL GOODS is up by 0.4%. The top gainers in the BSE CAPITAL GOODS Index is VA TECH WABAG (up 5.4%). The top losers are ELGI EQUIPMENTS (down 0.5%) and BEML LTD. (down 0.5%).

JINDAL STAINLESS Surges by 6%; BSE METAL Index Up 0.1% (Today's Market)

Mar 20, 2019 09:20 AM

JINDAL STAINLESS share price has surged by 6% and its current market price is Rs 42. The BSE METAL is up by 0.1%. The top gainers in the BSE METAL Index is JINDAL STAINLESS (up 5.9%). The top losers are HINDUSTAN ZINC (down 0.2%) and TATA STEEL (down 0.2%).

Indian Indices Continue Rally, Oil Prices, and Top Stocks in Action Today (Today's Market)

Mar 20, 2019 Pre-Open

Top cues to track in today's stock market session.

View More Indian Share Market News

Most Popular

Are You Ready for the Big Nifty Move in the March Expiry?(Profit Hunter)

Mar 8, 2019

History suggests the Nifty could make a big move in March. Are you prepared to benefit from this opportunity?

Smallcaps Are Rallying and You Need to Make the Most of It Now(Profit Hunter)

Mar 7, 2019

Did you just miss the smallcap rally? Or is there still time to catch up? Read on for answers and more...

The One Sector to Bet on Today as India Grows into a 10 Trillion Dollar Economy(The 5 Minute Wrapup)

Mar 7, 2019

India's defence sector is suddenly under the spotlight. Can this sector ride along India's long-term growth story?

Elections Don't Matter!(The Honest Truth)

Mar 13, 2019

Ajit Dayal shows us why from the point of view of the Indian economy, elections don't matter.

Two Growth Stocks that Doubled in a Little Over 12 Months!(The 5 Minute Wrapup)

Mar 13, 2019

The elements that fueled profit growth for these two companies led to a surge in their stock prices.


Get the Indian Stock Market's
Most Profitable Ideas

How To Beat Sensex Guide 2019
Get our special report, How to Beat Sensex Nearly 3X Now!
We will never sell or rent your email id.
Please read our Terms


Mar 20, 2019 10:17 AM