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Falling Rupee, July Domestic Air Passenger Traffic, and Top Cues in Focus Today
Mon, 26 Aug Pre-Open | Monish Vora, TM Team

Indian share markets ended their trading session on a positive note on Friday.

At the closing bell on Friday, the BSE Sensex stood higher by 228 points (up 0.6%) and the NSE Nifty closed higher by 88 points (up 0.8%).

On the sectoral front, gains were seen in the metal sector and energy sector.

The BSE Mid Cap index ended up by 0.9%, while the BSE Small Cap index ended the day up by 0.6%.

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Top Stocks in Focus Today

From the pharma sector, Biocon share price will be in focus today as the company's Malaysian arm has received the European Union Good manufacturing practice (EU GMP) certification for its insulin facility in Malaysia.

Reportedly, the insulin facility in Malaysia manufactures drug substance and drug products in vials, cartridges, and insulin delivery devices was inspected in May 2019.

The company's range of insulins made at the facility is serving patient populations in the EU and several other countries across the globe. Biocon's rh-Insulin is registered in over 40 countries worldwide and has been commercialised in many emerging markets.

Glenmark Pharma share price will also be in focus today as the company is engaged in discussions with private equity fund PremjiInvest to sell 25-30% stake in Glenmark Life Sciences (GLS), the newly hived off subsidiary of active pharmaceutical ingredient (API) products.

Reportedly, talks with PE funds have taken place in the backdrop of its ongoing discussions with home grown PE fund True North getting stuck over a valuation mismatch.

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India's Domestic Air Passenger Traffic Rises in July

In the news from the aviation sector, Directorate General of Civil Aviation (DGCA) in its monthly data showed that India's domestic air passenger traffic rose by 3% in July over the year-ago period, with local carriers flying 11.9 million passengers in the month.

Domestic airlines flew 11.6 million passengers in the same month last year. In June 2019, the country's domestic air passenger traffic rose 6.2% compared to the year-ago period.

In terms of market share, country's largest carrier, IndiGo maintained its lead position with 47.8% share of the domestic passenger market in July. SpiceJet's market share fell from 15.6% in April to 15.5% in July, giving it the number two spot.

The market share of Air India, GoAir, AirAsia and Vistara were 14.8%, 13.3%, 7.7% and 7.2%, respectively, in July this year.

According to the data, the passenger load factor of all the major airlines declined in July as compared to June 2019, due to the end of tourist season.

Besides, Air India topped the list of passenger grievances with 2.1 complaints per 10,000 passengers in the month of July, while SpiceJet was on number two position with 0.8 complaints per 10,000 passengers.

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Rupee Witnesses Selling Pressure

The Indian rupee plunged to an over eight-month low of 71.81 against the US dollar during last week. Losses were seen as tumbling equities and incessant foreign fund outflows weighed on sentiment.

Also, the sudden drop in Chinese yuan led to increased volatility in emerging market currencies, including the rupee.

Bringing the rupee under more pressure, the global crude benchmark Brent Futures rose 0.8% to trade at US$60.75 per barrel on Thursday last week.

How the rupee performs against its peers this week remains to be seen. We will keep you updated on all the developments from this space. Stay tuned.

Also, speaking of the rupee, Vijay Bhambwani, the editor of Weekly Cash Alerts, explains what's behind the fall in rupee and how much it can fall further in the video below:

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 Trades Marginally Higher; Tata Steel & Bajaj Finance Top Gainers (Today's Market)

Sep 18, 2019 12:30 pm

The BSE Sensex is trading up by 47 points, while the NSE Nifty is trading up by 14 points.

MMTC LTD Plunges by 5%; BSE 500 Index Up 0.2% (Today's Market)

Sep 18, 2019 12:13 PM

MMTC LTD share price has plunged by 5% and its current market price is Rs 21. The BSE 500 is up by 0.2%. The top gainers in the BSE 500 Index are PRESTIGE ESTATES (up 7.5%) and ITI LTD (up 5.2%). The top losers are MMTC LTD (down 5.3%) and INDIA TOURISM DEV. (down 6.7%).

HEXAWARE TECHNOLOGIES Surges by 5%; BSE IT Index Up 0.2% (Today's Market)

Sep 18, 2019 11:15 AM

HEXAWARE TECHNOLOGIES share price has surged by 5% and its current market price is Rs 394. The BSE IT is up by 0.2%. The top gainers in the BSE IT Index is HEXAWARE TECHNOLOGIES (up 5.3%). The top losers are CYIENT (down 0.1%) and WIPRO (down 0.1%).

HEG Plunges by 5%; BSE CAPITAL GOODS Index Up 0.2% (Today's Market)

Sep 18, 2019 10:05 AM

HEG share price has plunged by 5% and its current market price is Rs 1,295. The BSE CAPITAL GOODS is up by 0.2%. The top gainers in the BSE CAPITAL GOODS Index are AIA ENGINEERING (up 1.1%) and ELGI EQUIPMENTS (up 1.0%). The top losers is HEG (down 5.3%)..

PRESTIGE ESTATES Surges by 5%; BSE REALTY Index Up 0.3% (Today's Market)

Sep 18, 2019 10:03 AM

PRESTIGE ESTATES share price has surged by 5% and its current market price is Rs 290. The BSE REALTY is up by 0.3%. The top gainers in the BSE REALTY Index is PRESTIGE ESTATES (up 5.1%). The top losers are OMAXE LTD (down 0.1%) and INDIABULLS REAL EST (down 0.4%).

JAMNA AUTO Plunges by 6%; BSE 500 Index Up 0.1% (Today's Market)

Sep 18, 2019 09:55 AM

JAMNA AUTO share price has plunged by 6% and its current market price is Rs 38. The BSE 500 is up by 0.1%. The top gainers in the BSE 500 Index are ITI LTD (up 5.3%) and JINDAL SAW LTD (up 5.1%). The top losers are JAMNA AUTO (down 5.9%) and V-MART RETAIL (down 5.3%).

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