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?  

Falling Crude Oil Prices, Jet Airways Saga, and Top Cues in Focus Today
Thu, 13 Jun Pre-Open | Monish Vora, TM Team

On Wednesday, Indian share markets snapped their 3-day winning streak and ended their trading session on a negative note.

The BSE Sensex closed lower by 194 points to end the day at 37,757. Maruti Suzuki and Kotak Mahindra bank were among the top losers.

While the broader NSE Nifty ended down by 59 points to end at 11,906.

Among BSE sectoral indices, realty stocks fell the most by 1.9%, followed by telecom stocks and capital goods stocks.

Speaking of Indian markets, notably, Indian markets have been on the rise since the Narendra Modi-led coalition won a massive mandate to form the government for the second consecutive time.

In May, the benchmark Sensex rose 1.8%. In the year so far, Sensex has gained over 10%.

So, by the next elections in 2024, will Sensex touch 1,00,000 mark?

Does Sensex 1,00,000 sound outrageous from where we are right now?

--- Advertisement ---
Yet Another Reason to Get Tanushree's 7 Stocks Report Virtually FREE…

Our Senior Analyst and Co-Head of Research, Tanushree Banerjee, recently identified 7 stocks one could consider buying right now.

Now guess what?

As Modi takes steps to make India a military superpower in his second term…

And more importantly, one that's dependent on its own inbuilt weapons rather than imports…

1 of Tanushree's 7 stocks is placed to benefit greatly from a boom in India's defense sector. And by getting into that stock now, you could potentially make SUBSTANTIAL returns in the coming years.

To get Tanushree's 7 stocks report virtually FREE and find out what this stock is, just click here…
------------------------------

Even Sensex 40,000 would have seemed the same from around 5,000 levels in May 2004.

History indicates a healthy rise in Sensex post elections. In the three elections prior to this, we have seen a government come back to power, and change hands but the Sensex has moved one way i.e. upwards.

And now, with a stable government at the centre, the pace might pick up.

Co-head of research, Tanushree Banerjee believes there are 50 irreversible trends that will the push Sensex to 1,00,000.

And these 50 trends look set to play out soon. The ride might have already begun looking at the stock market's reaction to the election results.

But it is still early days. And the time to hop on to the ride is right now!

Top Stocks in Focus Today

From the banking sector, Yes Bank share price will be in focus today.

Stock of the lender witnessed selling pressure yesterday after the rating agency Moody's placed the bank's ratings under review for a downgrade. The agency placed Yes Bank's ratings under review for a downgrade citing its large exposure to debt-laden nonbanking financial companies (NBFC) and the possibility that the bank's loans under watch list could slip into non-performing assets (NPAs).

From the finance sector, Indiabulls Housing Finance share price will be in focus today as the company continued to shrink yesterday following allegations of siphoning off Rs 980 billion of public money.

The stock had hit a 52-week low of Rs 576.4 on Tuesday after the report and ended the session falling 8%. The company has lost Rs 70 billion so far.

From the Commodity Space...

Crude oil witnessed selling pressure yesterday. Oil prices fell over 1% on the back of a weaker oil demand outlook and a rise in US crude inventories despite growing expectations of ongoing OPEC-led supply cuts.

The US Energy Information Administration (EIA) cut its forecasts for 2019 world oil demand growth and US crude oil production in a monthly report released yesterday.

The EIA lowered its 2019 world oil demand growth forecast by 160,000 barrels per day (bpd) to 1.22 million bpd. It wound back its forecast for 2019 US crude production to 12.32 million bpd. This is 140,000 bpd less than the May forecast.

Apart from the above, a surprise increase in US crude stockpiles also kept oil prices under pressure.

According to data from the American Petroleum Institute (API), US crude inventories rose by 4.9 million barrels in the week ended June 7 to 482.8 million barrels. That compared with analysts' expectations for a decrease of 481,000 barrels.

Also, ongoing trade tensions between the United States and China, the world's two biggest oil consumers, weighed on prices. US President Donald Trump said on Tuesday he was holding up a trade deal with China.

The next meeting of the Organization of the Petroleum Exporting Countries (OPEC) is going to take place at the end of June and market participants are eyeing whether the world's major oil producers would prolong their supply cuts.

How this pans out remains to be seen. Meanwhile, we will keep you updated on all the developments from this space.

Jet Airways' Woes...

In the news from the aviation space, the pilots' union of cash strapped Jet Airways will file a plea against the grounded airline at the National Company Law Tribunal (NCLT) for non-payment of salaries and not providing a provision for gratuity payment to its staff.

The union counted about 1,100 of the airline's 1,600 pilots as its members before the grounding of the carrier. Reports state that the airline hasn't paid salaries since January and also haven't made any provisions for gratuity.

Two operational creditors of Jet Airways, Shaman Wheels Pvt. Ltd and Gaggar Enterprises Pvt. Ltd, had filed separate insolvency pleas against the airline earlier this week at the NCLT, Mumbai, for recovery of their dues.

Reports state that in case Jet does not end up being liquidated and insolvency is resolved then the new investor who bails out Jet would need to take on the liability including salaries.

In any case, if Jet Airways is admitted to the National Company Law Tribunal, under bankruptcy resolution lenders may recover only a fraction of the Rs 84 billion the airline owes them.

The total liabilities of the airline, including unpaid salaries and vendor dues, are nearly Rs 150 billion. Yesterday, it was reported that the Hinduja Group and Etihad Airways may not proceed with plans to resurrect the airline.

Shares of the company fell as much as 15% yesterday to hit an all-time low of Rs 106 on back of the above news.

It would be interesting to watch out how things pan out for Jet. Meanwhile, we will keep you updated on all the developments.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

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 "Falling Crude Oil Prices, Jet Airways Saga, and Top Cues in Focus Today". Click here!

  

Stock Market Updates

VAIBHAV GLOBAL Share Price Down by 5%; BSE 500 Index Down 1.0% (Today's Market)

Aug 14, 2020 03:34 PM

VAIBHAV GLOBAL share price is trading down by 5% and its current market price is Rs 1,843. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index are LUPIN (up 9.2%) and HEIDELBERG CEMENT (up 8.4%). The top losers are VAIBHAV GLOBAL (down 5.1%) and EICHER MOTOR (down 7.2%).

TATA MOTORS Share Price Down by 5%; BSE AUTO Index Down 2.5% (Today's Market)

Aug 14, 2020 03:26 PM

TATA MOTORS share price is trading down by 5% and its current market price is Rs 133. The BSE AUTO is down by 2.5%. The top gainers in the BSE AUTO Index are CUMMINS INDIA (up 2.6%) and ASHOK LEYLAND (up 1.0%). The top losers are TATA MOTORS (down 5.2%) and EICHER MOTOR (down 7.2%).

VARROC ENGINEERING Share Price Down by 5%; BSE CAPITAL GOODS Index Down 0.5% (Today's Market)

Aug 14, 2020 03:26 PM

VARROC ENGINEERING share price is trading down by 5% and its current market price is Rs 231. The BSE CAPITAL GOODS is down by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are NBCC (INDIA) LTD (up 3.1%) and SIEMENS (up 2.8%). The top losers is VARROC ENGINEERING (down 5.4%)..

BOSCH Share Price Down by 5%; BSE 500 Index Down 1.1% (Today's Market)

Aug 14, 2020 03:18 PM

BOSCH share price is trading down by 5% and its current market price is Rs 14,400. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are ECLERX SERVICES (up 9.6%) and LUPIN (up 9.2%). The top losers are BOSCH (down 5.2%) and EICHER MOTOR (down 6.9%).

BAJAJ ELECTRICALS at 52 Week High; BSE 500 Index Down 1.0 % (Today's Market)

Aug 14, 2020 03:06 PM

BAJAJ ELECTRICALS share price has hit a 52-week high. It is presently trading at Rs 470. BSE 500 Index is down by 1.0% at 14,874. Within the BSE 500, BAJAJ ELECTRICALS (up 7.0%) and REDINGTON (up 15.4%) are among the top gainers, while top losers are EICHER MOTOR and DISH TV.

Sensex Corrects Over 550 Points; Banking Stocks Under Pressure (Today's Market)

Aug 14, 2020 02:30 pm

Indian share markets slip into the red on signs of escalating US-China tensions.

View More Indian Share Market News

Most Popular

Large Opportunities Are Coming Our Way

Aug 5, 2020

Kenneth Andrade tells us why stocks will bounce back strongly and what he's bullish on.

Is It Time to Book Profits in Gold and Silver?(Fast Profits Daily)

Aug 10, 2020

Gold and silver have delivered phenomenal returns this year. Is it time to take some money of the table?

Forget the Nifty and Sensex for the Next 1 or 2 Years and Focus on These Stocks(Profit Hunter)

Aug 6, 2020

Stocks from the essential small cap space are likely to be outperformers over the next 1 or 2 years.

3 Stocks to Ride the Big Rebound in Smallcaps(Profit Hunter)

Aug 11, 2020

The rebound ratio suggests that smallcaps are set for big gains but this time it will be limited to a few stocks. Make sure you choose wisely.

Governance: For the Country and Your Portfolio(The Honest Truth)

Aug 14, 2020

Ajit Dayal on the need of socially responsible governance.

More

Covid-19 Proof
Multibagger Stocks

Covid19 Proof Multibaggers
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


Aug 14, 2020 (Close)

MARKET STATS