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Hong Kong Turmoil; Continuing Slowdown in Auto Sales; Key Q1FY20 Results and Top Stocks in Action
Wed, 14 Aug Pre-Open | Rini Mehta, TM Team

On Tuesday, the Indian share markets continued to witness selling pressure during closing hours and ended their day deep in the red.

At the closing bell, the BSE Sensex stood lower by 663 points (down 1.7%) and the NSE Nifty closed down by 187 points (down 1.7%).

The BSE Mid Cap index ended the day down 2.25%, while the BSE Small Cap index ended the day down 1.35%.

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Top Stocks in Focus

Alembic Pharma share price will be in focus as it has received approval from the US Food & Drug Administration (USFDA) for its Abbreviated New Drug Application (ANDA) for Fenofibrate Tablets USP, 48 mg and 145 mg.

Pidilite Industries has entered into a joint venture with Litokol, a leading Tile Adhesives and epoxy grout manufacturer from Italy, to establish a Joint Venture Company (JVC) in India. The joint venture company will invest in a new manufacturing facility in India.

NTPC reported 0.6% rise in its net profit at Rs 26 billion for the quarter ended June 2019 as compared to Rs 25.9 billion for the same quarter in the previous year.

Canara Bank has cut its marginal cost of fund-based lending rates (MCLRs) by 10 basis points (bps) across all tenors, with effective from August 07.

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

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Automobile Sales Continue in Slow Lane in July

Auto sales continued to remain under pressure in the month of July, as the data released by the Society of Indian Automobile Manufacturers (SIAM) showed that domestic passenger vehicle (PV) sales fell 31% to 2,00,790 units in July from 2,90,931 units in the same period a year ago.

Further, domestic car sales were down 36%, while total two-wheeler sales in July declined 16.8%.

As per the report, sales of commercial vehicles were also down 25.7%. Besides, vehicle sales across categories registered a decline of 18.7% to 18,25,148 units from 22,45,223 units in July 2018.

Results Corner

Market participants will track Ashiana Housing, CESC, Edelweiss, Gujarat Apollo, IDFC, IDBI Bank, Jindal Steel among others as they announce their June quarter results today.

Global Stock Market Drivers

European stocks slipped, Asian shares slumped, and US equity futures fluctuated on Tuesday as turmoil in Hong Kong and Argentina spooked investors already on edge over the trade war.

In Asia, a regional benchmark headed for its biggest drop in a week. Hong Kong stocks were the worst hit as anti-government protesters again targeted the airport and the city's leader warned it risked sliding into an abyss.

The latest sell-off in risk assets is adding to already skittish sentiment across markets during the low-volume month of August. With the US and China offering no respite to their trade war and a slew of data pointing to slowing global growth, market participants will look to this week's euro-zone GDP figures and industrial production reports from both China and America for further clues to the outlook.

Here are some key events coming up:

  • Companies releasing results include China's JD.com, Tencent and Alibaba; Cisco, Walmart and Nvidia of the US; the UK's Prudential; Australia's Telstra; Europe's Swisscom and brewer Carlsberg.
  • The US consumer price index data will be out.
  • The data on China retail sales, industrial production and the jobless rate is also due.
  • Thursday sees the release of US jobless claims, industrial production and retail sales data.

Oil Prices Edge Lower

Oil prices slipped on Tuesday, offsetting narrow gains in the previous session, as sluggish demand forecasts countered expectations that major producers would prop up oil prices by limiting crude oil output.

International benchmark Brent crude futures were down 18 cents or 0.3%, from the previous settlement, to US$58.39 a barrel.

US West Texas Intermediate (WTI) futures were at US$54.81 per barrel, down by 12 cents, or 0.2%, from the last close.

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Read the latest Market Commentary


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1 Responses to "Hong Kong Turmoil; Continuing Slowdown in Auto Sales; Key Q1FY20 Results and Top Stocks in Action"

SHAMBHU NATH CHANDHOK

Aug 14, 2019

NOT SATIFACTORY FOR LONG TERM.

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Stock Market Updates

PNB Share Price Up by 5%; BSE BANKEX Index Down 0.3% (Today's Market)

Aug 12, 2020 09:49 AM

PNB share price is trading up by 5% and its current market price is Rs 35. The BSE BANKEX is down by 0.3%. The top gainers in the BSE BANKEX Index is PNB (up 5.2%). The top losers are INDUSIND BANK (down 0.2%) and AXIS BANK (down 0.8%).

MANAPPURAM FINANCE Share Price Down by 5%; BSE 500 Index Down 0.5% (Today's Market)

Aug 12, 2020 09:31 AM

MANAPPURAM FINANCE share price is trading down by 5% and its current market price is Rs 155. The BSE 500 is down by 0.5%. The top gainers in the BSE 500 Index are GE T&D INDIA (up 10.0%) and GSK CONSUMER (up 5.1%). The top losers are MANAPPURAM FINANCE (down 5.0%) and MUTHOOT FINANCE (down 6.3%).

GE T&D INDIA Share Price Up by 10%; BSE CAPITAL GOODS Index Down 0.7% (Today's Market)

Aug 12, 2020 09:29 AM

GE T&D INDIA share price is trading up by 10% and its current market price is Rs 108. The BSE CAPITAL GOODS is down by 0.7%. The top gainers in the BSE CAPITAL GOODS Index is GE T&D INDIA (up 10.0%). The top losers are SCHAEFFLER INDIA LTD (down 0.1%) and V GUARD INDUSTRIES (down 0.2%).

MUTHOOT FINANCE Share Price Down by 6%; BSE 500 Index Down 0.6% (Today's Market)

Aug 12, 2020 09:29 AM

MUTHOOT FINANCE share price is trading down by 6% and its current market price is Rs 1,165. The BSE 500 is down by 0.6%. The top gainers in the BSE 500 Index are GE T&D INDIA (up 10.0%) and GSK CONSUMER (up 5.1%). The top losers are MUTHOOT FINANCE (down 6.0%) and KRBL (down 5.7%).

ORACLE FINANCIAL Share Price Up by 5%; BSE IT Index Up 0.3% (Today's Market)

Aug 12, 2020 09:23 AM

ORACLE FINANCIAL share price is trading up by 5% and its current market price is Rs 3,151. The BSE IT is up by 0.3%. The top gainers in the BSE IT Index is ORACLE FINANCIAL (up 5.1%). The top losers are HCL TECHNOLOGIES (down 0.1%) and MPHASIS (down 0.3%).

SGX Nifty Trades Lower, Mutual Fund SIP Trend in July, Titan June Quarter Results, and Top Buzzing Stocks Today (Today's Market)

Aug 12, 2020 Pre-Open

Top cues to track in today's stock market session.

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Aug 12, 2020 09:59 AM

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