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

Sensex Tanks 642 Points; Automobile and Realty Stocks Plunge
Tue, 17 Sep Closing | Monish Vora, TM Team

Indian share markets fell sharply today amid fears of rising crude oil prices and weakness in the rupee rattled investor sentiment. The BSE Sensex fell over 700 points intraday and breached the 36,500 mark. Meanwhile, NSE Nifty slumped below 10,800.

All sectoral indices ended on a negative note, with stocks in the automobile sector, realty sector and metal sector, leading the losses.

At the closing bell, the BSE Sensex stood lower by 642 points (down 1.7%) and the NSE Nifty closed down by 186 points (down 1.7%). The BSE Mid Cap index and the BSE Small Cap index ended the day down by 1.8%.

Asian stock markets finished on a negative note. As of the most recent closing prices, the Hang Seng was down by 1.4% and the Shanghai Composite stood lower by 1.7%.

The rupee is trading at 71.91 against the US$.

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Speaking of Indian stock markets, if you look at the returns over the years, you will see that the markets have never moved in a linear fashion.

It has never been a one-way street - only up or down.

Stock markets have always moved in cycles.

If you would have bought stocks when either the Sensex or the Smallcap index was in a downturn, you would have made big returns once the cycle turned and the bulls took over.

The Time to Buy Stocks is Now

The Time to Buy Stocks is Now

The economic slowdown does not herald the end of the world or for that matter the end of India. It's a phase and like all phases - This too shall pass.

The real question is - Are you taking advantage of these price declines to buy quality stocks?

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The 'Profit Accelerator' That Helped Wipro Multiply 2,000 Times Since 1991

Do you know what a 'profit accelerator' is?

It is one of 3 traits that the most profitable stocks have…

For instance, back in 1991 Wipro underwent a huge transformation…

This was the 'profit accelerator' the company needed.

Over the next 3 decades, the stock price of Wipro multiplied over 2,000 times.

Amazing, isn't it?

If you're wondering what exactly a 'profit accelerator' is, you'll find a full explanation of that and the other 2 traits that make a 100X potential stock, in this note.
------------------------------

In news from the commodity space, oil witnessed selling pressure today. Oil prices pulled back slightly after soaring 15% in the previous session.

Saturday's attacks raised the prospect of a major supply shock in a market that in recent months has focused on demand concerns due to the pressure on global growth from an ongoing US-China trade dispute.

On Monday, oil prices surged nearly 20% in intraday trading in response to the attacks, the biggest jump in almost 30 years, before closing at a four-month high.

US President Donald Trump said it looked like Iran was behind attacks but stressed he did not want to go to war. Relations between the United States and Iran have deteriorated since Trump pulled out of the Iran nuclear accord last year and reimposed sanctions on its oil exports.

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

In news from the PSU space, shares of STC India and MMTC plunged up to 18% in early trade today, amid reports that the Commerce Ministry has decided to close down the state-owned trading firms along with the Project and Equipment Corporation of India (PEC).

As per reports, the department of commerce may soon approach the cabinet with the proposal.

When asked whether the government is considering to shut or merge these units, Commerce and Industry Minister Piyush Goyal said "all options are open".

He said gradually the purpose of these companies is getting eroded and they are no more canalising agencies. He further added that there is no meaning for such a big infrastructure (MMTC) to carry out gold imports.

According to STC's annual report for 2018-19, the company is facing "severe liquidity crisis" as all the lender banks have reported STC's account as NPA due to non-payment of interest on the banking limits availed by the company". At present, the company has no banking limits, funded or non-funded, available with it.

Out of the total dues of about Rs 19.1 billion crystallized with the lender banks, an amount of Rs 11 billion has already been paid by STC to the lender banks.

The balance amount is also proposed to be paid partly through sale of its immovable properties and partly out of the trade receivables to be realized by the company.

Moving on to news from the pharma sector, Glenmark Pharma has been granted Orphan Drug Designation by US Food and Drug Administration (USFDA) to its bispecific antibody candidate GBR 1342 for the treatment of patients with multiple myeloma who have received prior therapies.

Derived from the company's proprietary BEAT (Bispecific Engagement by Antibodies based on the T cell receptor) technology, GBR 1342 is being investigated for the treatment of multiple myeloma.

Glenmark Pharma share price ended the day down by 0.9%.

To know more about the company, you can read Glenmark's latest result analysis and Glenmark's 2018-19 annual report analysis on our website.

Meanwhile, Dr Reddy's Laboratories has launched Lansoprazole delayed-release capsules USP, 15 mg, an over the counter (OTC) store-brand equivalent of Prevacid 24HR capsules, in the United States market, as approved by the USFDA.

Dr Reddy's OTC Lansoprazole delayed-release capsules USP, 15 mg, is an over the counter, Proton Pump Inhibitor (PPI) used to treat frequent heartburn occurring two or more days a week.

Dr Reddy's share price ended the day up by 0.6%.

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 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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