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Indian Indices Continue Downtrend, Oil Prices, and Top Stocks in Action Today
Fri, 1 Mar Pre-Open | Monish Vora, TM Team

On Thursday, share markets in India traded range-bound throughout the day and ended their session on a flat note.

The BSE Sensex closed lower by 38 points to end the day at 35,867. TCS and Maruti Suzuki were among the top losers.

While the broader NSE Nifty ended down by 14 points to end at 10,793.

Among BSE sectoral indices, IT stocks fell the most by 1%, followed by automobile stocks.

Top Stocks in Action Today

Lupin share price will be in focus today as the company has launched Ranolazine Extended-Release (ER) Tablets, 500mg and 1000mg. The company's Ranolazine ER Tablets, 500mg and 1000mg are a generic version of Gilead Sciences, Inc.'s Ranexa ER Tablets, 500mg and 1000mg. Ranolazine is indicated for the treatment of chronic angina.

To know more about the company, you can read Lupin's Q3FY19 Result Analysis on our website.

Future Retail share price will be in focus today as the company has received approval for execution of master franchise agreement by its subsidiary SHME Food Brands (SHME) with 7-Eleven, Inc., to develop and operate 7 Eleven stores within India.

Market participants will also track Voltas share price.

Reportedly, Voltas has strengthened its position by associating with South Asia's largest HVAC exhibition, ACREX India 2019 as its knowledge partner.

Oil Prices Fall as Asia Factory Output Weakens

Oil prices fell on Thursday amid weakening factory output in China and Japan and record US crude output.

Prices were dragged down by surging American crude oil production, which has risen by more than 2 million barrels per day (bpd) over the last year, to an unprecedented 12.1 million bpd.

Reports state that, factory activity in China, the world's biggest oil importer, shrank for a third straight month in February, as export orders fell at the fastest pace since the global financial crisis a decade ago.

In Japan, factory output posted the biggest decline in a year in January as China's slowdown affects the entire region.

Oil markets remain relatively well supported by supply cuts by the Organization of the Petroleum Exporting Countries (OPEC), which together with some non-affiliated producers like Russia, known as 'OPEC+', agreed late last year to reduce output by 1.2 million bpd to prop up prices.

We will keep you updates on all the developments from this space. Stay tuned.

Strengthening Rupee

On Thursday, the domestic currency gained some strength against the US$. At the days highest point, the rupee touched 71.05 against the greenback, marking a gain of 19 paise against the American currency.

The rupee came under pressure on Wednesday for the second successive sessions after tensions flared between Indian and Pakistan border. Reports state that, uncertainty following the uncertainty could continue to keep market participants on the edge.

Indo-Pak Border Tensions...

On Thursday, US President Donald Trump said there would be some 'reasonably decent news' on the ongoing conflict between India and Pakistan.

Reportedly, the US, China and other world powers have urged restraint from the two nations as tensions escalate following tit-for-tat airstrikes in the wake of a suicide car bombing that killed at least 40 Indian paramilitary police in Indian-controlled Kashmir on February 14, 2019.

According to reports, on Thursday, troops from India and Pakistan briefly exchanged fire in Poonch, a district in Kashmir.

Amid heightened Indo-Pak border tensions you can rest assured that markets will offer you attractive buying opportunities.

As per co-head of research, Tanushree Banerjee, these opportunities will be available to you over next few months. These stocks will piggyback on India's long-term growth story.

She believes these stocks will rise fast when the tide of the market turns up.

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


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Stock Market Updates

IDFC Share Price Up by 10%; BSE 500 Index Up 0.2% (Today's Market)

Aug 11, 2020 03:31 PM

IDFC share price is trading up by 10% and its current market price is Rs 23. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are IDFC (up 10.1%) and GARWARE TECHNICAL (up 11.0%). The top losers are M&M and V GUARD INDUSTRIES .

STRIDES PHARMA SCIENCE at 52 Week High; BSE 500 Index Up 0.5% (Today's Market)

Aug 11, 2020 02:25 PM

STRIDES PHARMA SCIENCE share price has hit a 52-week high. It is presently trading at Rs 628. BSE 500 Index is up by 0.5% at 14,843. Within the BSE 500, STRIDES PHARMA SCIENCE (up 2.1%) and NESCO (up 15.9%) are among the top gainers, while top losers are LAURUS LABS LTD and CAPLIN POINT.

CENTRAL BANK Share Price Up by 6%; BSE BANKEX Index Up 1.1% (Today's Market)

Aug 11, 2020 02:15 PM

CENTRAL BANK share price is trading up by 6% and its current market price is Rs 19. The BSE BANKEX is up by 1.1%. The top gainers in the BSE BANKEX Index is CENTRAL BANK (up 5.6%). The top losers is CITY UNION BANK (down 0.2%).

INDIAN BANK Share Price Up by 5%; BSE BANKEX Index Up 0.9% (Today's Market)

Aug 11, 2020 01:55 PM

INDIAN BANK share price is trading up by 5% and its current market price is Rs 63. The BSE BANKEX is up by 0.9%. The top gainers in the BSE BANKEX Index is INDIAN BANK (up 5.3%). The top losers is CITY UNION BANK (down 0.5%).

SCHNEIDER ELECTRIC INFRA Share Price Up by 5%; BSE CAPITAL GOODS Index Down 0.1% (Today's Market)

Aug 11, 2020 01:47 PM

SCHNEIDER ELECTRIC INFRA share price is trading up by 5% and its current market price is Rs 90. The BSE CAPITAL GOODS is down by 0.1%. The top gainers in the BSE CAPITAL GOODS Index is SCHNEIDER ELECTRIC INFRA (up 5.3%). The top losers are AIA ENGINEERING (down 0.1%) and LAKSHMI MACHINE (down 0.5%).

Indian Indices Trade Higher; ITC & Tata Steel Top Gainers (Today's Market)

Aug 11, 2020 12:30 pm

The BSE Sensex is trading up by 226 points, while the NSE Nifty is trading up by 56 points.

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