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?  

Markets will remain closed on 6th April, 2020 on account of Mahavir Jayanti.

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


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

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

  

Stock Market Updates

NOCIL Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:33 PM

NOCIL share price has plunged by 5% and its current market price is Rs 68. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are GUJARAT ALKALIES (up 13.9%) and LUPIN (up 13.4%). The top losers are NOCIL (down 5.2%) and 3M INDIA (down 5.0%).

INDIAN ENERGY EXCHANGE LTD Surges by 5%; BSE POWER Index Down 0.3% (Today's Market)

Apr 3, 2020 03:31 PM

INDIAN ENERGY EXCHANGE LTD share price has surged by 5% and its current market price is Rs 137. The BSE POWER is down by 0.3%. The top gainers in the BSE POWER Index are INDIAN ENERGY EXCHANGE LTD (up 5.4%) and RELIANCE INFRA (up 5.0%). The top losers are KALPATARU POWER (down 0.1%) and TORRENT POWER LTD (down 0.3%).

LIC HOUSING Plunges by 5%; BSE 500 Index Down 1.8% (Today's Market)

Apr 3, 2020 03:27 PM

LIC HOUSING share price has plunged by 5% and its current market price is Rs 234. The BSE 500 is down by 1.8%. The top gainers in the BSE 500 Index are LUPIN (up 14.0%) and RAJESH EXPORTS (up 11.7%). The top losers are LIC HOUSING (down 5.2%) and MARUTI SUZUKI (down 5.4%).

AJANTA PHARMA Plunges by 5%; BSE HEALTHCARE Index Up 3.5% (Today's Market)

Apr 3, 2020 03:27 PM

AJANTA PHARMA share price has plunged by 5% and its current market price is Rs 1,414. The BSE HEALTHCARE is up by 3.5%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 14.0%) and SUN PHARMA (up 9.4%). The top losers are AJANTA PHARMA (down 5.1%) and STRIDES PHARMA SCIENCE (down 5.3%).

PERSISTENT SYSTEMS Plunges by 7%; BSE IT Index Down 2.7% (Today's Market)

Apr 3, 2020 03:25 PM

PERSISTENT SYSTEMS share price has plunged by 7% and its current market price is Rs 545. The BSE IT is down by 2.7%. The top gainers in the BSE IT Index are ORACLE FINANCIAL (up 5.0%) and ECLERX SERVICES (up 3.0%). The top losers are PERSISTENT SYSTEMS (down 7.0%) and L&T TECHONOLOGY (down 6.0%).

Sensex Falls 500 Points; Kotak Mahindra Bank & IndusInd Bank Top Losers (Today's Market)

Apr 3, 2020 12:30 pm

Indian share markets are trading on a negative note with the BSE Sensex down by 507 points, while NSE Nifty is trading lower by 134 points.

View More Indian Share Market News

Most Popular

Sorry Warren Buffett, I'm Following This Man Instead of You in 2020(The 5 Minute Wrapup)

Mar 30, 2020

This man warned of an impending market correction while everyone else was celebrating the renewed optimism in early 2020...

The Biggest Trading Opportunity of 2020 is Here...

Mar 26, 2020

India's #1 trader, Vijay Bhambwani, talks about a hugely profitable trading opportunity which you must know about today!

A Big Trading Opportunity is Coming Your Way Soon(Fast Profits Daily)

Mar 25, 2020

I see a big opportunity to make fast profits on the horizon.

Coronavirus Sell-off Is a Perfect Time to 'Lockdown' this 'Crorepati' Stock(Profit Hunter)

Mar 24, 2020

Coronavirus crisis and panic selling has brought this quality smallcap to multiyear lows, making it a great bargain.

Lockdown! Now the Bailout...(The Honest Truth)

Mar 25, 2020

Ajit Dayal on what India should do to manage the coronavirus impact on the economy.

More

How to Trade the
Coronavirus Crash

Coronavirus Crash
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


Apr 3, 2020 (Close)

MARKET STATS