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Indian Indices Trades Lower; Yes Bank Rebounds 5%

Thu, 9 May 12:30 pm

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Share markets in India are presently trading on a negative note. Sectoral indices are trading mixed with stocks in the energy sector, healthcare sector and metal sector witnessing maximum selling pressure, while IT stocks and realty stocks are trading on a positive note.

The BSE Sensex is trading down by 189 points (down 0.5%), while the NSE Nifty is trading down by 52 points (down 0.5%). The BSE Mid Cap index is trading down by 0.2% and the BSE Small Cap index is trading down by 0.3%.

The rupee is trading at Rs 69.95 against the US$.

Speaking of share markets in general, the India Volatility Index (VIX) score indicates that Indian share markets are in for a turbulent ride ahead.

The India VIX Index measures the volatility expected over the next 30 days. It touched an all-time high recently.

Have a look at the chart below that shows market volatility in recent years:

Market Volatility Highest in Years

Here's what Tanushree Banerjee wrote about it in today's edition of The 5 Minute WrapUp...

• Uncertainty over the general elections, trade war threats between US and China and rising crude oil prices have all contributed to widespread fear among investors.
  
  While the 2018 correction was mainly due to corporate governance issues back home, the threat of macro issues looms large in 2019.
  
  For you, dear reader, it is important to ignore the short-term noise of the mainstream media.
  
  While the volatility index is high, it is no indicator of the market direction. The index was high during 2014 as well, prior to the elections. Post that we had a multi-year bull run.

She believes, safe stocks with strong fundamentals will do well regardless the short-term volatility.

Moving on, market participants are tracking Asian Paints share price, HCL Technologies share price, and Apollo Tyres share price as these companies are set to announce their Q4FY19 results later today.

You can also read our recently released Q4FY19 Results: Vedanta, Ceat, ICICI Bank.

In the news from the media sector, Zee Entertainment share price is witnessing buying interest today after the company denied rumors that raised concerns over the audit of its financial statements.

As per an article in a leading financial daily, the media firm said that the audit of the standalone and consolidated financial statements for FY19 was in progress by Deloitte Haskins & Sells, LLP, and the company has already scheduled the board meeting on May 27.

Buying was also seen after the company told the exchanges that the stake sale process undertaken by Essel Group is at an advanced stage.

Yesterday, the stock fell 9% after Reliance Mutual Fund sold Rs 4.1 billion worth of shares of the company which the Essel Group had pledged with the asset manager to raise money.

The company had announced in November last year that its promoters, led by Subhash Chandra, planned to sell up to 50% of their equity stake in the company to a strategic partner.

Zee Entertainment share price is presently trading up by 6.5%.

Moving on to the news from the automobiles sector, Tata Motors share price is in focus today as the company is in talks with China's Chery Automobiles for a joint venture (JV).

Reportedly, Chinese automaker Chery Automobiles is keen on a joint venture with Tata Motors for an India entry.

The company already has a JV with Tata Motors-owned Jaguar and Land Rover to make cars in China. The partnership was formed in 2012 and helped Jaguar Land Rover open their first assembly facility in Changshu, China in October 2014.

In other news, Maruti Suzuki share price is also in focus today. Weak sales have forced the country's largest carmaker to sell cars designed specifically for commercial users and create an alternate demand source.

In March, the company had launched a stripped-down version of one of its highest-selling models - Alto - to cater to the taxi segment. Reportedly, this variant is designed specifically for buyers that run their vehicles under Ola, Uber and other such taxi aggregators.

Last week, Maruti reported a 17.2% YoY decline in April 2019 sales at 143,245 units. The company had sold 172,986 units in April last year.

Total domestic sales, which included passenger vehicles, light commercial vehicle (LCV) super carry and sales to other OEMs, reported a decline of 18.7% YoY in April 2019 at 134,068 units. The company's domestic sales stood at 164,978 units in April last year.

Meanwhile, export volumes in April increased by 14.6% YoY. Maruti reported total exports of 9,177 units last month as against 8,008 units in April 2018.

Speaking of automobiles sector, one thing we must keep in mind is that not all auto companies will make money over time. And also, you shouldn't stay away from auto stocks altogether.

Even Tanushree Banerjee, Co-head of research at Equitymaster believes that there are businesses in this sector that you cannot ignore. She is particularly talking about the blue-chip auto stocks.

She believes, This could be the opportunity long term investors were waiting for.

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

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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