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Indian Indices Trade Flat, Current Account Deficit Widens, and Top Stocks in Action
Tue, 19 Jun Pre-Open | Parth Parekh, TM Team

On Monday, share markets in India opened on a negative note and ended the day in red after a dull day of trading.

The BSE Sensex closed lower by 74 points to end the day at 35,548. While the broader NSE Nifty ended the day down by 18 points to end at 10,800.

Among BSE sectoral indices, metal stocks fell the most by 1.7%, followed by IT stocks at 0.8%. Kotak Mahindra Bank and Bharti Airtel were among the top losers.

Top Stocks in Action Today

Dr. Reddy's share price is likely to be in focus a US court issued a temporary restraining order against Dr. Reddy's with respect to further sales and commercialization of Buprenorphine and Naloxone Sublingual Film within the US.

Lupin share price will be in focus today after the company and Japan based Nichi-lko entered into an agreement for the distribution, promotion and sale of Lupin's recently-filed biosimilar Etanercept.

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India's Current Account Deficit to Widen

According to a report by ICRA, India's current account deficit (CAD) may widen to US$15-16 billion or around 2.4% of GDP in the ongoing quarter. from US$14 billion in Q1FY18, with higher commodity prices counteracting the likely contraction in gold imports.

India's trade deficit widened US$14.6 billion from US$13.8 billion in May 2017. Oil imports were up 49.5% to US$11.5 billion on back of a surge in international crude prices.

Meanwhile, according to an SBI report released last week said that India should try to tap sectors such as pharmaceuticals and agriculture - particularly in commodities like rice - in the Chinese market with an aim to bridge the widening trade gap.

Once India is able to tap those (agriculture and pharma) markets and increase its exports, the trade deficit will be quite balanced. In FY17, India's trade deficit with China expanded to US$51.1 billion from US$38.7 billion in FY13.

Furthermore, data showed that the trade deficit further widened to US$62.9 billion in FY18. While India is looking to export more, China is looking to import more. Amid fears of trade war under the protectionist policy of US President Donald Trump, China is planning to hold its first import-only fair later this year.

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Stock Market Updates

ONGC Share Price Down by 7%; BSE OIL & GAS Index Down 4.0% (Today's Market)

Feb 26, 2021 03:34 PM

ONGC share price is trading down by 7% and its current market price is Rs 118. The BSE OIL & GAS is down by 4.0%. The top gainers in the BSE OIL & GAS Index is CASTROL INDIA (up 1.3%). The top losers are ONGC (down 7.1%) and GAIL (down 6.3%).

ULTRATECH CEMENT Share Price Down by 5%; BSE 500 Index Down 3.4% (Today's Market)

Feb 26, 2021 03:30 PM

ULTRATECH CEMENT share price is trading down by 5% and its current market price is Rs 6,487. The BSE 500 is down by 3.4%. The top gainers in the BSE 500 Index are SOUTH IND.BANK (up 10.4%) and JAGRAN PRAKASHAN (up 10.0%). The top losers are ULTRATECH CEMENT (down 5.0%) and BAJAJ FINSERV (down 6.3%).

JAGRAN PRAKASHAN Share Price Up by 10%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

JAGRAN PRAKASHAN share price is trading up by 10% and its current market price is Rs 60. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are JAGRAN PRAKASHAN (up 10.1%) and RCF (up 11.0%). The top losers are MAHINDRA CIE AUTO. and AJANTA PHARMA (down 0.1%).

UPL Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

UPL share price is trading down by 5% and its current market price is Rs 589. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are UPL (down 5.4%) and BAJAJ FINSERV (down 6.2%).

ICICI LOMBARD GENERAL INSURANCE Share Price Down by 5%; BSE 500 Index Down 3.2% (Today's Market)

Feb 26, 2021 03:26 PM

ICICI LOMBARD GENERAL INSURANCE share price is trading down by 5% and its current market price is Rs 1,479. The BSE 500 is down by 3.2%. The top gainers in the BSE 500 Index are RCF (up 11.0%) and SOUTH IND.BANK (up 10.4%). The top losers are ICICI LOMBARD GENERAL INSURANCE (down 5.2%) and BAJAJ FINSERV (down 6.2%).

Sensex Crashes 1,800 Points; Nifty Trades Below 14,700 Mark (Today's Market)

Feb 26, 2021 02:30 pm

The BSE Sensex is trading down by 1,464 points, while the NSE Nifty is trading down by 423 points.

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