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Rising Crude Oil Prices, Q1FY20 Results, and Top Stocks in Focus Today
Thu, 1 Aug Pre-Open | Monish Vora, TM Team

On Wednesday, share markets in India witnessed buying interest during closing hours and ended marginally higher.

The BSE Sensex closed higher by 84 points to end the day at 37,481. Yes Bank and IndusInd Bank were among the top gainers.

While the broader NSE Nifty ended up by 33 points to end at 11,118.

Among BSE sectoral indices, metal stocks gained the most by 2.4%, followed by automobile stocks and oil & gas stocks.

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Top Stocks in Focus Today

From the banking sector, Allahabad Bank share price will be in focus today as the lender received its board's approval to raise up to Rs 20 billion via qualified institutional placement. This is part of the bank's plan to raise up to Rs 40 billion this fiscal to propel business growth.

Market participants will be tracking CARE ratings share price, IOC share price, and Trent share price as these companies announced their June quarter results yesterday.

You can read our recently released Q1FY20 results: Force Motors, Maruti Suzuki, Vedanta, Tata Motors, Supreme Industries.

June Quarter Results

Hero MotoCorp share price will be in focus today as the company reported 38.3% rise in its net profit at Rs 12.6 billion for the quarter ended 30 June 2019 as compared to Rs 9.1 billion for the same quarter in the previous year.

However, total income of the company decreased by 7.6% at Rs 82.5 billion for Q1FY20 as compared Rs 89.3 billion for the corresponding quarter previous year.

On the consolidated basis, the company has reported a rise of 35.9% in its net profit at Rs 12.6 billion for the quarter under review as compared to Rs 9.2 billion for the same quarter in the previous year.

However, total income of the company decreased by 6.9% at Rs 84.1 billion for Q1FY20 as compared Rs 90.3 billion for the corresponding quarter previous year.

In other news, private lender Axis Bank reported 95% year-on-year (YoY) rise in net profit for June quarter aided by good performance in its key operating parameters although slippages and provisioning remained on the higher side.

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The net profit for the quarter was at Rs 13.7 billion, compared to Rs 7 billion in the year-ago quarter. However, analysts were expecting the bank to post profit of Rs 18.6 billion.

Bank's net interest income rose 13% to Rs 58.4 billion in Q1FY20, compared to Rs 51.7 billion in the same period of FY19.

Non-interest income of the lender saw a 32% rise at Rs 38.7 billion in Q1, compared to Rs 29.3 billion in the same period last year. Net interest margin (NIM) stood at 3.40% for the quarter, against 3.46% in the year-ago period.

Asset quality remained stable, with gross non-performing assets (NPA) ratio staying at 5.25% in Q1FY20, against 5.26% in the March quarter.

Crude Oil Continues Momentum...

In the news from the commodity space, crude oil rose for the fifth day yesterday and witnessed buying interest. Most of the gains were seen on the back of a bigger than expected drop in US inventories.

The American Petroleum Institute (API) on Tuesday reported a decrease of 6.024 million barrels in the US crude oil inventories for the week ending July 26.

In the previous week ending July 19, API reported a decrease of 10.961 million barrels of crude oil inventories, the largest draw this year.

Also, the US Energy Information Administration (EIA) reported a decline of 10.835 million barrels for the same period.

Further, expectations that the US Federal Reserve will cut interest rates meant the commodity trade on a positive note.

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Note that crude oil has been witnessing volatility lately amid weekly declines in US inventories and rising geopolitical tensions between Iran and other countries.

Meanwhile, volatility was also seen on the back of ongoing geopolitical tensions in the Middle East.

Iran said that a small oil products tanker missing in the Strait of Hormuz was in its territorial waters. This stoked fraught relations with Iran's neighbors and the West over threats to shipping in the key oil chokepoint.

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

Speaking of crude oil, in the video below, Vijay Bhambwani explains how trading in crude oil is an evergreen strategy. As per him, trading in crude oil offers excellent opportunities in nearly all market conditions due to its unique standing within the world's economic and political systems.

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...

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Stock Market Updates

TUBE INVESTMENTS OF INDIA LTD Share Price Up by 5%; BSE CAPITAL GOODS Index Up 0.5% (Today's Market)

Aug 7, 2020 03:34 PM

TUBE INVESTMENTS OF INDIA LTD share price is trading up by 5% and its current market price is Rs 558. The BSE CAPITAL GOODS is up by 0.5%. The top gainers in the BSE CAPITAL GOODS Index are TUBE INVESTMENTS OF INDIA LTD (up 5.2%) and HONEYWELL AUTOMATION (up 14.2%). The top losers are V GUARD INDUSTRIES (down 0.2%) and SKF INDIA (down 0.3%).

BANK OF BARODA Share Price Up by 5%; BSE BANKEX Index Up 0.4% (Today's Market)

Aug 7, 2020 03:34 PM

BANK OF BARODA share price is trading up by 5% and its current market price is Rs 49. The BSE BANKEX is up by 0.4%. The top gainers in the BSE BANKEX Index are BANK OF BARODA (up 5.1%) and RBL BANK LTD (up 9.7%). The top losers are AXIS BANK and SBI (down 0.2%).

ADANI TRANSMISSION Share Price Up by 9%; BSE POWER Index Up 1.4% (Today's Market)

Aug 7, 2020 03:34 PM

ADANI TRANSMISSION share price is trading up by 9% and its current market price is Rs 254. The BSE POWER is up by 1.4%. The top gainers in the BSE POWER Index are ADANI TRANSMISSION (up 9.0%) and JSW ENERGY (up 5.3%). The top losers are NTPC (down 0.3%) and KALPATARU POWER (down 0.5%).

ESSEL PROPACK Share Price Down by 5%; BSE 500 Index Up 0.3% (Today's Market)

Aug 7, 2020 03:14 PM

ESSEL PROPACK share price is trading down by 5% and its current market price is Rs 275. The BSE 500 is up by 0.3%. The top gainers in the BSE 500 Index are HONEYWELL AUTOMATION (up 11.7%) and RBL BANK LTD (up 10.0%). The top losers are ESSEL PROPACK (down 5.0%) and LUPIN (down 6.0%).

EMAMI LTD Share Price Up by 6%; BSE FMCG Index Up 0.8% (Today's Market)

Aug 7, 2020 02:26 PM

EMAMI LTD share price is trading up by 6% and its current market price is Rs 254. The BSE FMCG is up by 0.8%. The top gainers in the BSE FMCG Index are EMAMI LTD (up 6.2%) and GSK CONSUMER (up 5.1%). The top losers [TOPLOSERS].

Sensex Trades Marginally Lower; HCL Technologies & Infosys Top Losers (Today's Market)

Aug 7, 2020 12:30 pm

The BSE Sensex is trading down by 83 points, while the NSE Nifty is trading down by 18 points.

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