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Markets will remain closed on 21st October 2019, due to Assembly Elections in Maharashtra.

Sensex Opens Over 100 Points Down; Banking and IT Stocks Under Pressure
Tue, 17 Sep 09:30 am | Rini Mehta, TM Team

Asian share markets are lower today as Chinese and Hong Kong shares fall. The Shanghai Composite is off 0.9% while the Hang Seng is also down 0.9%. The Nikkei 225 is trading lower by 0.1%. Meanwhile, energy stocks spiked while most of Wall Street fell on Monday after weekend attacks on Saudi Arabia's oil facilities added to investors' concerns about geopolitical risk and a stumbling global economy.

Back home, India share markets opened lower. The BSE Sensex is trading down by 104 points while the NSE Nifty is trading down by 30 points. The BSE Mid Cap index and BSE Small Cap index opened up by 0.1% and 0.2% respectively.

Sectoral indices have opened the day on a mixed note with oil & gas stocks, IT stocks and bank stocks witnessing selling pressure. Consumer durables and metal stocks have opened the day in green.

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The rupee is currently trading at 71.56 against the US$.

Logging its first fall in eight sessions, the Indian rupee on Monday plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities.

Surging crude oil prices have emerged as major fears for India in form of fiscal slippage and inflationary pressure.

Crude oil prices saw their biggest intraday gain on Monday, soaring nearly 20%. The attacks on Saudi Aramco's oil facilities removed almost 5% of global supply.

They also heightened geopolitical tensions, which may now keep oil prices inflated.

Higher prices will add to the pressure on the Narendra Modi administration, grappling with the slowest economic expansion in six years.

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India is among the most vulnerable to rising oil prices given its overwhelming dependence on imports, mainly from West Asia.

Moving on to the news from the mutual funds space. The mutual fund industry managed to garner Rs 82.3 billion through systematic investment plans (SIPs) in August, a rise of 7.5% from the year-ago period, despite volatility in equity market.

With this, total SIP contribution in the first 5 months of the current fiscal rose to Rs 411 billion as compared to Rs 367.6 billion in April-August 2018, as per the Association of Mutual Funds in India (AMFI).

SIP continued to be the preferred route for retail investors to invest in mutual fund as it helps them reduce market timing risk, the reports noted.

Inflows into SIPs have averaged about Rs 80 billion for the 12 months till August.

The chart below shows the trend in SIP inflows over the last three financial years. During this period, SIP contributions have grown from Rs 439.2 billion in FY2016-17 to Rs 926.9 billion in FY2018-19, growing at compounded annual rate of 45%.

Mutual Fund SIPs Grow at 45% CAGR in 2 Years

Mutual Fund SIPs Grow at 45% CAGR in 2 Years

Currently, mutual funds have 28.1 million SIP accounts through which investors regularly invest in Indian mutual fund schemes.

The industry, on an average, added 9.4 lakh SIP accounts each month during the current fiscal (2019-20), with an average ticket size of about Rs 29.

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!

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Stock Market Updates

Sensex Ends 246 Points Higher; Capital Goods and Power Stocks Witness Buying (Today's Market)

Oct 18, 2019 Closing

Indian share markets end on a positive note with the Sensex up by 246 points, while the Nifty closed up by 76 points.

SIEMENS at All Time High; BSE CAPITAL GOODS Index Up 2.2% (Today's Market)

Oct 18, 2019 03:34 PM

SIEMENS share price has hit an all time high at Rs 1,656 (up 1.6%). The BSE CAPITAL GOODS Index is up by 2.2%. Among the top gainers in the BSE CAPITAL GOODS Index today are SIEMENS (up 1.6%) and HONEYWELL AUTOMATION (up 0.8%). The top losers include LAKSHMI MACHINE (down 0.6%).

BLISS GVS PHARMA Surges by 13%; BSE 500 Index Up 0.9% (Today's Market)

Oct 18, 2019 03:32 PM

BLISS GVS PHARMA share price has surged by 13% and its current market price is Rs 136. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are BLISS GVS PHARMA (up 13.1%) and PNB HOUSING FINANCE LTD (up 18.6%). The top losers are SHOPPERS STOP (down 0.1%) and NAVNEET EDUCATION (down 0.1%).

TVS MOTORS Surges by 5%; BSE AUTO Index Up 1.0% (Today's Market)

Oct 18, 2019 03:30 PM

TVS MOTORS share price has surged by 5% and its current market price is Rs 460. The BSE AUTO is up by 1.0%. The top gainers in the BSE AUTO Index are TVS MOTORS (up 5.1%) and BALKRISHNA INDUSTRIES (up 5.5%). The top losers are M&M (down 0.2%) and BAJAJ AUTO (down 0.4%).

PRESTIGE ESTATES Surges by 5%; BSE REALTY Index Up 2.0% (Today's Market)

Oct 18, 2019 03:27 PM

PRESTIGE ESTATES share price has surged by 5% and its current market price is Rs 302. The BSE REALTY is up by 2.0%. The top gainers in the BSE REALTY Index are PRESTIGE ESTATES (up 5.4%) and OBEROI REALTY (up 5.7%). The top losers are MAHINDRA LIFESPACE (down 1.2%) and SOBHA LIMITED (down 1.2%).

SHIPPING CORP. Surges by 10%; BSE 500 Index Up 0.9% (Today's Market)

Oct 18, 2019 03:26 PM

SHIPPING CORP. share price has surged by 10% and its current market price is Rs 47. The BSE 500 is up by 0.9%. The top gainers in the BSE 500 Index are SHIPPING CORP. (up 10.1%) and PNB HOUSING FINANCE LTD (up 17.2%). The top losers are SUN PHARMA and SHOPPERS STOP (down 0.1%).

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