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Indian Stock Market News, Equity Market and Sensex Today in India | Equitymaster
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Firm Start to The Week
Mon, 9 May Closing

At the closing bell, the BSE Sensex closed higher by 460 points, while the NSE Nifty finished higher by 132 points. S&P BSE Midcap and S&P BSE Small Cap also ended the day higher by 1.3% and 1.2% respectively.

Asian markets finished on a mixed note as of the most recent closing prices. Stock markets in China and Indonesia ended the day lower by 1.5% and 2.8% respectively. Whereas, stock markets in Singapore and Japan ended the day higher by 1.3% and 0.7%. Oil prices were trading at US$ 45.64 a barrel at the time of writing. The rupee was trading at 66.44 against the US$.

Sectoral indices finished the day on an encouraging note with stocks from banking and telecommunications sectors witnessing maximum buying interest.

As per an article in leading financial daily, Maruti Suzuki India reported sales of over one lakh vehicles with auto gear-shift (AGS) technology. This is a technology wherein the driver does not have to put his feet on the clutch pedal in order to shift the gear as an electrically operated system deploys the clutch automatically when the gear is changed.

Maruti introduced the AGS technology first in the hatchback model of Celerio. Reportedly, models with AGS technology now account for over 60% of the total sales of Celerio. Looking at this success, the company has loaded this technology in more models.

Currently, Alto K10, Wagon R, Swift Dzire are also equipped with the AGS technology. The company has sold 18,000 units of Alto K-10, 12,000 units of Wagon R, about 66,000 units of Celerio, 200 units of Dzire and has also exported around 3,100 units with AGS technology.

User-friendly cars and automation are expected to be the key drivers to boost the growth going forward in the automobile industry. The stock of Maruti Suzuki ended the day higher by 1.2%.

Speaking about cars, Vivek Kaul has written an interesting article correlating car sales to black money. Click here to read this interesting piece.

In other news update, western style quick service restaurants (QSRs) and coffee chains have shut down more than 80 stores over the past 12-18 months. This is on account of lower same-store growth coupled with lower discretionary spends.

Reportedly, Jubilant Foodworks' Domino's Pizza and various other popular quick service restaurants (QSRs) such as Pizza Hut, Costa Coffee, KFC, Barista and McDonald's have all downsized operations.

This is happening as the increasing usage of delivery based apps such as Zomato and Swiggy is eating into their share of the pie. These apps provide a large variety of options for the customer to order from and at significant discounts. There has been an increasing trend to order food from these apps and it is growing at a fast pace.

However, these new delivery based apps are burning cash and are not yet profitable. Soon they will have to go slow on their discounting strategy. Going forward, it will be interesting to see how things pan out in this space.

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S&P BSE SENSEX


Nov 22, 2017 10:57 AM

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