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Sensex Opens Flat; Capital Goods and Realty Stocks Lag
Tue, 16 Jul 09:30 am | Rini Mehta, TM Team

Asian share markets are mixed today. The Shanghai Composite is lower by 0.3% while the Hang Seng is even. The Nikkei 225 is trading down by 0.7%. Meanwhile, the benchmark S&P 500 index ended little changed on Monday after oscillating between positive and negative territory throughout the session after Citigroup Inc kicked off the earnings season with a mixed quarterly report.

Back home, India share markets opened the day on a flat note. The BSE Sensex is trading up by 31 points while the NSE Nifty is trading down by 4 points. Both, the BSE Mid Cap index and BSE Small Cap index opened up by 0.2%.

Sectoral indices have opened the day on a mixed note with oil & gas stocks and telecom stocks leading the pack of gainers. Capital goods and realty stocks have opened the day in red.

The rupee is currently trading at 68.54 against the US$.

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In the news from the steel sector. The country's total steel exports fell 34% in FY19 to 6.4 million tonne (MT) compared to the preceding fiscal.

In comparison to FY18 (9.62 million tonnes), India's total steel export has declined by 34% in FY19 and stood at 6.36 million tonnes.

Reportedly, the government has taken appropriate measures such as anti-dumping and countervailing duties in order to protect the domestic industry from unfair external competition.

Further, government has also notified 53 Steel and Steel Product (Quality Control) Orders which is applicable for both domestic production as well as imports.

The Steel Quality Control Order are implemented in the public interest for protection of human, animal and plant, safety of environment, prevention of unfair trade practices and national security.

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He also said that trade related issues are a part of ongoing economic relationship discussion between India and the US.

Note that, In the last 6 years, India has been the world's fastest growing steel producer, among the top 10.

Over the last 6-year period, India's steel production grew at a CAGR of 6%. Countries such as Germany and Japan registered negative growth. Growth has been flat in USA, South Korea, Russia, and Brazil.

India's Steel Production Growing at the Fastest Rate

India's Steel Production Growing at the Fastest Rate

China, the world leading steel producer, which saw double-digit growth over 2001-2010, grew marginally by 4% CAGR in the last six years.

Importantly, India's production growth is due to strong domestic demand. Particularly, on the back of strong infrastructure development and housing demand, especially affordable housing.

No wonder India has surged past Japan and USA to become the second largest steel producer in the world.

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Moving on to the news from the economy. India's imports declined to their lowest level in four months in June to US$40.3 billion, down 9% from a year ago, indicating weakening consumption in Asia's third largest economy.

The Indian economy grew at 5.8% in the January-March period, a five-year low, hurt by weak consumption and tepid private investment.

The latest data added to fears that the economy may have slowed further in April-June.

In the last two quarters, the Indian economy has seen a sharp fall in sales of automobiles, petroleum products and consumer goods.

India's oil imports during June fell 13.3% to US$11 billion, partly due to low oil prices, while gold imports surged 13% to US$2.7 billion.

Imports excluding gold and oil also fell 9% to US$26.6 billion in June 2019, the data showed.

India's merchandise exports also fell in June, for the first time in nine months, by a year-on-year 9.7% to US$25 billion, narrowing the trade deficit for the month by 8% to US$15.3 billion.

The de-growth in exports is a reflection of sluggish global demand and rising US-China trade war and developments in Iran further aggravated the problem of the world economy.

Exports of commodities, excluding oil and precious metals, also fell 4.9% to US$19.2 billion in June from a year ago.

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

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Stock Market Updates

NBCC (INDIA) LTD Share Price Up by 7%; BSE REALTY Index Up 1.2% (Today's Market)

Aug 13, 2020 03:34 PM

NBCC (INDIA) LTD share price is trading up by 7% and its current market price is Rs 26. The BSE REALTY is up by 1.2%. The top gainers in the BSE REALTY Index are NBCC (INDIA) LTD (up 6.5%) and INDIABULLS REAL EST (up 9.4%). The top losers are SOBHA LIMITED (down 0.4%) and GODREJ PROPERTIES (down 0.5%).

TUBE INVESTMENTS OF INDIA LTD at All Time High; BSE CAPITAL GOODS Index Up 3.9% (Today's Market)

Aug 13, 2020 03:34 PM

TUBE INVESTMENTS OF INDIA LTD share price has hit an all time high at Rs 596 (up 7.7%). The BSE CAPITAL GOODS Index is up by 3.9%. Among the top gainers in the BSE CAPITAL GOODS Index today are TUBE INVESTMENTS OF INDIA LTD (up 7.7%) and HONEYWELL AUTOMATION (up 1.2%). The top losers include V GUARD INDUSTRIES (down 0.3%) and HEG (down 0.4%).

SONATA SOFTWARE Share Price Up by 5%; BSE IT Index Up 0.1% (Today's Market)

Aug 13, 2020 03:32 PM

SONATA SOFTWARE share price is trading up by 5% and its current market price is Rs 312. The BSE IT is up by 0.1%. The top gainers in the BSE IT Index are SONATA SOFTWARE (up 5.0%) and ECLERX SERVICES (up 20.0%). The top losers are INFOSYS (down 0.4%) and FIRSTSOURCE SOL. (down 0.7%).

LUX INDUSTRIES LIMITED Share Price Up by 11%; BSE 500 Index Up 0.2% (Today's Market)

Aug 13, 2020 03:18 PM

LUX INDUSTRIES LIMITED share price is trading up by 11% and its current market price is Rs 1,428. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are LUX INDUSTRIES LIMITED (up 10.7%) and VENKYS (I) LIMITED (up 20.0%). The top losers are GUJ. STATE PETRONET and AMARA RAJA BATTERIES .

GSK PHARMA Share Price Up by 5%; BSE HEALTHCARE Index Down 0.6% (Today's Market)

Aug 13, 2020 03:16 PM

GSK PHARMA share price is trading up by 5% and its current market price is Rs 1,540. The BSE HEALTHCARE is down by 0.6%. The top gainers in the BSE HEALTHCARE Index are GSK PHARMA (up 5.2%) and CAPLIN POINT (up 8.2%). The top losers are GRANULES INDIA and ASTRAZENECA PHARMA (down 0.1%).

Indian Indices Erase Gains; Bharti Airtel & Sun Pharma Top Losers (Today's Market)

Aug 13, 2020 12:30 pm

The BSE Sensex is trading down by 23 points, while the NSE Nifty is trading down by 4 points.

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