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US-China Trade Talks, Oil Prices, and Top Stocks in Action Today
Wed, 20 Feb Pre-Open | Monish Vora, TM Team

On Tuesday, share markets in India witnessed selling pressure during closing hours and ended their trading session marginally lower after a volatile day of trading.

The BSE Sensex closed lower by 146 points to end the day at 35,353. TCS and NTPC were among the top losers.

While the broader NSE Nifty ended down by 37 points to end at 10,604.

Among BSE sectoral indices, IT stocks fell the most by 2.1%, followed by power stocks.

Top Stocks in Action Today

ABB India share price will be in focus today as the company has won its largest traction equipment order in India, worth more than Rs 2.7 billion to supply state-of-the-art converters for electric locomotives from Diesel Locomotive Works (DLW), in Varanasi.

Ashok Leyland share price will also be in focus today as the company has expanded its sub-heavy trucks segment with the launch of variants of the Guru (Guru 1010) and Boss (Boss 1616 and Boss 1916) trucks.

Market participants will also track Ambuja Cement share price.

The company has reported 58.8% rise in its net profit at Rs 5.4 billion for the quarter under review as against to Rs 3.4 billion for the same quarter in the previous year. On consolidated basis, the company has reported over 2-fold jump in its net profit at Rs 9.7 billion for the quarter ended December 31, 2018 as compared to Rs 4.1 billion for the corresponding quarter of the previous year.

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From the Aviation Space...

Jet Airways share price may consider a rights issue to raise Rs 40 billion if the markets regulator doesn't exempt Etihad Airways from making an open offer in lieu of raising its stake in the carrier.

As part of the resolution plan for Jet Airways, founder Naresh Goyal, Etihad Airways and the lenders to the carrier will subscribe to this rights issue.

Lenders to the domestic airline had prepared a debt resolution plan, which proposed restructuring under provisions laid down by the Reserve Bank of India (RBI), to close a funding gap of Rs 85 billion.

Reportedly, the same has been approved by the airline's board. This will be done through an equity infusion, debt restructuring, sale and leaseback (SLB) and refinancing the aircraft.

Shareholders of the company are scheduled to meet on February 21 for a general meeting to vote on a proposal to increase its authorized share capital from Rs 2 billion to Rs 22 billion through a special resolution.

US-China Trade Talks

A new round of talks between the United States and China to resolve their trade-war took place in Washington on Tuesday.

Reportedly, the talks follow a round of negotiations that ended last week in Beijing without a deal, but which officials said had generated progress on contentious issues between the two trading partners.

The talks are aimed at achieving needed structural changes in China that affect trade between the United States and China.

The two sides will also discuss China's pledge to purchase a substantial amount of goods and services from the United States.

Oil Prices

Oil prices stayed within sight of their 2019 highs of almost $67 per barrel, supported by OPEC-led supply cuts although concern about slowing economic growth that would curb demand weighed.

The supply curbs led by the Organization of the Petroleum Exporting Countries have helped crude prices to rise more than 20% this year. US sanctions against OPEC members Iran and Venezuela have also tightened the market.

OPEC last week lowered its forecast for growth in world oil demand in 2019 to 1.24 million barrels per day.

Top crude exporter Saudi Arabia has sharply reduced production and exports to ensure that the deal gets off to a strong start.

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

It would be interesting to see how this all pans out. Meanwhile, we will keep you updated on the latest developments from this space.

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

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Stock Market Updates

RELIANCE IND. at All Time High; BSE OIL & GAS Index Down 2.3% (Today's Market)

Mar 20, 2019 03:30 PM

RELIANCE IND. share price has hit an all time high at Rs 1,387 . The BSE OIL & GAS Index is down by 2.3%. Among the top gainers in the BSE OIL & GAS Index today are RELIANCE IND. and INDRAPRASTHA GAS (up 1.4%). The top losers include CASTROL INDIA (down 1.0%) and PETRONET LNG (down 1.1%).

IPCA LABS at All Time High; BSE HEALTHCARE Index Up 0.2% (Today's Market)

Mar 20, 2019 03:30 PM

IPCA LABS share price has hit an all time high at Rs 948 (up 2.2%). The BSE HEALTHCARE Index is up by 0.2%. Among the top gainers in the BSE HEALTHCARE Index today are IPCA LABS (up 2.2%) and PFIZER (up 0.9%). The top losers include BIOCON and CIPLA .

ORIENTAL BANK at 52 Week High; BSE 500 Index Down 0.1 % (Today's Market)

Mar 20, 2019 03:30 PM

ORIENTAL BANK share price has hit a 52-week high. It is presently trading at Rs 108. BSE 500 Index is down by 0.1% at 15,193. Within the BSE 500, ORIENTAL BANK (up 3.0%) and SPICEJET (up 17.6%) are among the top gainers, while top losers are JUBILANT LIFE SCIENCES and HPCL.

DILIP BUILDCON LTD Plunges by 5%; BSE CAPITAL GOODS Index Up 0.6% (Today's Market)

Mar 20, 2019 03:26 PM

DILIP BUILDCON LTD share price has plunged by 5% and its current market price is Rs 711. The BSE CAPITAL GOODS is up by 0.6%. The top gainers in the BSE CAPITAL GOODS Index are SADBHAV ENGINEERING (up 4.3%) and SKF INDIA (up 1.8%). The top losers is DILIP BUILDCON LTD (down 5.1%)..

The BSE OIL & GAS Index Down 2% ; HPCL Among Top Losers (Today's Market)

Mar 20, 2019 03:20 PM

The BSE OIL & GAS Index Down at 15,367 (down 2.1%). Among the top losers in the BSE OIL & GAS Index today are HPCL, BPCL and OIL INDIA. Meanwhile, the BSE Sensex has surged 0.1% to 38,490.

Indian Indices Turn Volatile; Realty & IT Stocks Gain (Today's Market)

Mar 20, 2019 12:30 pm

Indian share markets are trading on a flat note with the BSE Sensex up by 7 points while NSE Nifty is trading lower by 13 points.

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