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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

QUESS CORP. LTD Plunges by 5%; BSE IT Index Up 0.1% (Today's Market)

Feb 19, 2020 03:32 PM

QUESS CORP. LTD share price has plunged by 5% and its current market price is Rs 585. The BSE IT is up by 0.1%. The top gainers in the BSE IT Index are FIRSTSOURCE SOL. (up 4.7%) and TATA ELXSI (up 3.7%). The top losers is QUESS CORP. LTD (down 5.4%).

VOLTAS at All Time High; BSE CAPITAL GOODS Index Up 0.3% (Today's Market)

Feb 19, 2020 03:18 PM

VOLTAS share price has hit an all time high at Rs 736 (up 6.1%). The BSE CAPITAL GOODS Index is up by 0.3%. Among the top gainers in the BSE CAPITAL GOODS Index today are VOLTAS (up 6.1%) and SCHAEFFLER INDIA LTD (up 0.4%). The top losers include DILIP BUILDCON LTD (down 0.1%) and LAKSHMI MACHINE (down 0.2%).

OIL INDIA Surges by 5%; BSE OIL & GAS Index Up 1.6% (Today's Market)

Feb 19, 2020 03:18 PM

OIL INDIA share price has surged by 5% and its current market price is Rs 139. The BSE OIL & GAS is up by 1.6%. The top gainers in the BSE OIL & GAS Index is OIL INDIA (up 5.2%).

WOCKHARDT Surges by 11%; BSE HEALTHCARE Index Up 2.0% (Today's Market)

Feb 19, 2020 03:04 PM

WOCKHARDT share price has surged by 11% and its current market price is Rs 374. The BSE HEALTHCARE is up by 2.0%. The top gainers in the BSE HEALTHCARE Index are WOCKHARDT (up 11.1%) and IPCA LABS (up 5.9%). The top losers are PROCTER & GAMBLE HEALTH (down 0.1%) and SANOFI INDIA (down 0.2%).

NIPPON LIFE INDIA AMC Surges by 10%; BSE 500 Index Up 1.2% (Today's Market)

Feb 19, 2020 03:02 PM

NIPPON LIFE INDIA AMC share price has surged by 10% and its current market price is Rs 433. The BSE 500 is up by 1.2%. The top gainers in the BSE 500 Index are NIPPON LIFE INDIA AMC (up 10.0%) and AUROBINDO PHARMA (up 19.0%). The top losers are OBEROI REALTY and FINOLEX CABLES .

Indian Indices Trade Higher; Nestle & Reliance Industries Top Gainers (Today's Market)

Feb 19, 2020 12:30 pm

The BSE Sensex is trading up by 281 points, while the NSE Nifty is trading up by 87 points.

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