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Indian Indices Trade in Red, Oil on the Boil, and Top Stocks in Action
Tue, 25 Sep Pre-Open | Rini Mehta, TM Team

On Monday, share markets in India opened on a negative note and ended the day in red after a dull day of trading.

The BSE Sensex closed lower by 53 points to end the day at 36,305. While the broader NSE Nifty ended the day down by 136 points to end at 10,975.

Among BSE sectoral indices, realty stocks fell the most by 5.1%, followed by auto stocks at 3.8%. HDFC Ltd and Mahindra & Mahindra. were among the top losers.

Top Stocks in Action Today

Cipla share price is likely to be in focus today after it was reported that the US drug market regulator, USFDA, is carrying out a surprise inspection at the company's Goa facility.

Tata Steel share price will be in focus today after it was reported that the company will acquire the steel business of Usha Martin Ltd for Rs 43-47 billion.

Usha Martin's steel business comprises the specialized 1 million-tonnes-per-annum (MTPA) alloy based manufacturing capacity in the long products segment based in Jamshedpur, a producing iron-ore mine, a coal mine under development and captive power plants.

Oil Prices at 4 Year Highs

Oil prices jumped more than 2 percent to a four-year high on Monday after OPEC declined to announce an immediate increase in production despite calls by U.S. President Donald Trump for action to raise global supply. Benchmark Brent crude hit its highest since November 2014 at US$ 80.94 per barrel.

OPEC leader Saudi Arabia and its biggest oil-producer ally outside the group, Russia, ruled out any immediate extra increase in output, effectively rebuffing a call by Trump for action to cool the market.

The Organization of the Petroleum Exporting Countries as well as top producer Russia has been discussing raising output to counter falling supply from Iran, although no decision has been made public yet.

In the past one year alone, oil prices have surged more than 50%.

Also note that rising crude oil prices not only affect fuel prices, but also has many other repercussions for the Indian economy.

They can be a big worry for the Modi government as well.

As Ankit Shah wrote in a recent edition of The 5 Minute WrapUp...

  • During the UPA II regime, India's average annual oil import bill was US$ 133 billion. In fact, in the last three years of Manmohan Singh's leadership, the oil import bill exceeded US$ 150 billion. Compare that with an average annual oil bill of US$ 95 billion during the four years of Modi's leadership.

    The actual savings would have been even higher, because I believe the consumption of crude oil and petroleum products would have been quite higher in the Modi era than the Manmohan era.

    Last Thursday, Brent crude oil prices shot above US$ 80 a barrel.

    This is the highest level since 2014. In the past one year alone, oil prices have surged more than 50%.

    Now, what if oil prices go back to the levels during the Manmohan Singh regime? What would happen to India's current account and fiscal deficit? What would happen to inflation and RBI's stance on interest rates?

    With the next general elections just a year away, rising crude oil prices are going to be a big worry for the Modi government.

    It should worry you too...

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Stock Market Updates

Most Active Small-Cap Stocks Today; JYOTHY LABS the Most Traded (Today's Market)

Dec 13, 2018 03:51 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

Top 5 Mid-Cap Gainers Today; IIFL HOLDINGS Leads the Pack (Today's Market)

Dec 13, 2018 03:48 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

BHARAT ELECTRONICS Surges by 5%; BSE CAPITAL GOODS Index Up 1.4% (Today's Market)

Dec 13, 2018 03:27 PM

BHARAT ELECTRONICS share price has surged by 5% and its current market price is Rs 84. The BSE CAPITAL GOODS is up by 1.4%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 5.0%) and BEML LTD. (up 5.8%). The top losers are ABB INDIA LTD. (down 0.2%) and SUZLON ENERGY (down 0.6%).

YES BANK Plunges by 6%; BSE BANKEX Index Up 0.3% (Today's Market)

Dec 13, 2018 03:09 PM

YES BANK share price has plunged by 6% and its current market price is Rs 194. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index are FEDERAL BANK (up 1.6%) and KOTAK MAH. BANK (up 1.4%). The top losers is YES BANK (down 6.5%).

IDFC BANK LTD Surges by 6%; BSE BANKEX Index Up 0.3% (Today's Market)

Dec 13, 2018 03:05 PM

IDFC BANK LTD share price has surged by 6% and its current market price is Rs 40. The BSE BANKEX is up by 0.3%. The top gainers in the BSE BANKEX Index is IDFC BANK LTD (up 6.0%). The top losers are AXIS BANK (down 0.2%) and ICICI BANK (down 0.3%).

Sensex Trades Higher; IndusInd Bank & Tata Motors Top Gainers (Today's Market)

Dec 13, 2018 12:30 pm

The BSE Sensex is trading up by 172 points, while the NSE Nifty is trading up by 56 points.

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