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NBFCs in Focus, Rising Crude Oil Prices and Top Stocks in Action Today
Tue, 20 Aug Pre-Open | Monish Vora, TM Team

On Monday, Indian share markets witnessed selling pressure during closing hours and ended marginally higher.

The BSE Sensex closed higher by 52 points to end the day at 37,402. Sun Pharma and Tech Mahindra were among the top gainers.

While the broader NSE Nifty ended up by 6 points to end at 11,054.

Among BSE sectoral indices, consumer durable stocks gained the most by 1.6%, followed by capital goods stocks and healthcare stocks.

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Top Stocks in Action Today

Glenmark Pharma share price will be in focus today as the company has received regulatory approval to market a combination of its novel, patent protected and globally researched sodium glucose co-transporter-2 (SGLT2) inhibitor Remogliflozin etabonate (Remogliflozin) and Metformin Hydrochloride (Metformin) film coated tablets in India.

Tata Motors share price will also be in focus today as it has launched offers across its Tiago, Tigor, Hexa and Nexon range sold in India during this monsoon. The package offers free roadside assistance and warranty for 3 years/40,000 Kms.

Market participants will also track Emami share price.

Reportedly, the company is aiming at a 15% revenue growth in the haircare segment in the 2019-20 fiscal. The company's haircare portfolio - Kesh King, Navratna and 7 Oils in One - is worth Rs 12.2 billion and accounts for 25-30% of its topline.

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RBI Rules Out Asset Quality Review for NBFCs

The Reserve Bank of India (RBI) Governor Shaktikanta Das, on Monday, ruled out ordering an asset quality review of non-banking finance companies (NBFCs) that are facing a credit squeeze since the collapse of IL&FS in August last year.

Addressing the press at the sidelines of the annual banking conclave organized by Federation of Indian Chambers of Commerce & Industry (FICCI), Das said "at the moment there is no such proposal to have an asset quality review. Let me also add that 50 odd NBFC's and HFC's are being closely monitored".

Das explained that bringing Housing finance companies (HFCs) under the regulatory ambit of the Reserve Bank is a significant move, given their asset-liability profiles.

Including HFCs, the size of the NBFC sector constitutes about 25% of combined balance sheet of scheduled commercial banks.

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Bank credit to NBFCs fell by over Rs 60 billion between March to June highlighting the risk aversion towards the sector. Credit disbursals by NBFCs plunged by a third in the year to March raising worries over solvency issues.

Governor Das also said that it was the right time to formalize linking of fresh loans with external benchmarks like the repo rate.

The country's largest lender State Bank of India (SBI) recently introduced repo-linked lending rate for home loans from July only for new customers who are getting the direct benefit of lower policy rates.

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

Oil Rises amid Drone Attack

Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemeni separatists and as traders looked for signs that Sino-US trade tensions could ease.

A drone attack by Yemen's Houthi group on an oilfield in eastern Saudi Arabia on Saturday caused a fire at a gas plant, adding to Middle East tensions, but state-run Saudi Aramco said oil production was not affected.

Gains were however capped to some degree by an unusually downbeat OPEC report that stoked concerns about growth in oil demand.

The Organization of the Petroleum Exporting Countries (OPEC) cut its forecast for global oil demand growth in 2019 by 40,000 barrels per day (bpd) to 1.1 million bpd and indicated the market would be in slight surplus in 2020.

Japan's Exports Slip for Eighth Month

Japan's exports slipped for an eighth month in July, while manufacturers' confidence turned negative for the first time in over six years as China-bound sales slumped again in a fresh sign the Sino-US trade war could tip the economy into recession.

Exports in July fell 1.6% from a year earlier. This marked the longest run of declines in exports since a 14-month stretch from October 2015 to November 2016.

Exports to China, Japan's biggest trading partner, shrank 9.3% YoY in July, down for a fifth month. The contraction was led by sizable declines of 31.5% in semiconductor production equipment, 35% in car parts and 19% in electronics parts.

Export volume rose 1.5% in July year-on-year (YoY), the first positive reading in nine months.

Shipments to Asia, which account for more than half of Japan's overall exports, declined 8.3% in the year to July.

Japan's exports to the United States rose 8.4% in the year to July. The two countries are set to hold ministerial-level trade talks in Washington this week, with eyes on an early trade deal including US beef exports and Japan's auto exports.

Stay tuned for more updates from this space.

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

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Stock Market Updates

Sensex Ends 1,921 Points Higher; Banking and Auto Stocks Witness Huge Buying (Today's Market)

Sep 20, 2019 Closing

While the BSE Sensex closed higher by 1,921 points, NSE Nifty closed higher by 569 points.

Sensex Zooms Over 1,900 Points after Government Slashes Corporate Tax Rates (Today's Market)

Sep 20, 2019 12:30 pm

Much needed tax relief buoys markets.

ASHOK LEYLAND Surges by 13%; BSE AUTO Index Up 7.5% (Today's Market)

Sep 20, 2019 11:55 AM

ASHOK LEYLAND share price has surged by 13% and its current market price is Rs 66. The BSE AUTO is up by 7.5%. The top gainers in the BSE AUTO Index are ASHOK LEYLAND (up 13.3%) and EICHER MOTOR (up 13.8%). The top losers [TOPLOSERS].

VOLTAS Surges by 6%; BSE CAPITAL GOODS Index Up 6.1% (Today's Market)

Sep 20, 2019 11:55 AM

VOLTAS share price has surged by 6% and its current market price is Rs 664. The BSE CAPITAL GOODS is up by 6.1%. The top gainers in the BSE CAPITAL GOODS Index are VOLTAS (up 6.1%) and HONEYWELL AUTOMATION (up 6.4%). The top losers are KALPATARU POWER (down 0.1%) and CG POWER & INDUSTRIAL (down 4.9%).

TVS MOTORS Surges by 9%; BSE AUTO Index Up 7.5% (Today's Market)

Sep 20, 2019 11:55 AM

TVS MOTORS share price has surged by 9% and its current market price is Rs 413. The BSE AUTO is up by 7.5%. The top gainers in the BSE AUTO Index are TVS MOTORS (up 9.1%) and EICHER MOTOR (up 13.8%). The top losers [TOPLOSERS].

TATA STEEL Surges by 5%; BSE METAL Index Up 3.8% (Today's Market)

Sep 20, 2019 11:55 AM

TATA STEEL share price has surged by 5% and its current market price is Rs 368. The BSE METAL is up by 3.8%. The top gainers in the BSE METAL Index are TATA STEEL (up 5.1%) and JINDAL STEEL & POWER (up 6.9%). The top losers is NMDC LTD (down 0.1%).

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