Sensex Opens Over 170 Points Up; Realty & Auto Stocks Lead

Tue, 6 Nov 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian stock markets are lower today as Japanese and Hong Kong shares fall. The Nikkei 225 is off 1% while the Hang Seng is down 0.2%. The Shanghai Composite is trading down by 0.8%. Meanwhile, the S&P 500 rose on Monday with boosts from financial, energy and defensive sectors as investors showed some caution on the eve of US congressional elections.

Back home, India share markets have opened the day on positive note. The BSE Sensex is trading up by 174 points while the NSE Nifty is trading up by 59 points. The BSE Mid Cap index and BSE Small Cap index both opened up by 0.4%.

Barring metal stocks and healthcare stocks, all sectoral indices have opened the day in green with realty stocks and automobile stocks witnessing maximum buying interest.

The rupee is trading at Rs 72.95 against the US$.

Bank stocks opened the day on a mixed note with Punjab & Sind Bank and UCO Bank leading the pack of gainers. As per an article in a leading financial daily, Andhra Bank divest its stake either fully or partially in various joint venture firms.

The board of directors of the bank accorded its approval for divestment of bank's stake in full or in part in joint venture investments of the bank, ASREC India Ltd, India International Bank (Malaysia) Bhd and IndiaFirst Life Insurance Co Ltd.

IndiaFirst is a joint-venture between Bank of Baroda (44%), Andhra Bank (30%) and UK's wealth and investment management firm Legal & General (26%).

India International Bank (Malaysia) Berhad (IIBM) is a joint-venture of state-owned Bank of Baroda (40%); Indian Overseas Bank (35%) and Andhra Bank (25%) that began its operations in July 2012.

ASREC is engaged in securitisation and reconstruction of financial assets business.

To know more about the company, you can access to Andhra Bank's latest result analysis and Andhra Bank's stock analysis on our website.

Andhra Bank share price opened the day up by 0.9%.

Moving on to the news from the currencies space. After two sessions of massive gains, the Indian rupee on 5 November tumbled by 67 paise to close at 73.12 against the US dollar on increased demand for the American currency from importers and unabated foreign fund outflows.

The domestic currency had gained 150 paise in the previous two sessions.

Reportedly, the strengthening of the American currency against major global currencies overseas and weakness in the domestic equity market weighed on the local unit.

After opening lower at 72.76, the rupee plunged to the day's low of 73.13 and finally settled for the day at 73.12, down 67 paise over its previous closing price.

Speaking of macroeconomic cues and stock markets, there are some interesting trends about how the global markets performed last year and this year.

Countries heavily dependent on crude oil exports performed poorly in 2017. However, with crude oil prices in a rising trend this year, they're among the best-performing markets.

India, a country that relies heavily on crude oil imports was among the best-performing markets when oil prices were weak. However, the tide turned this year as our oil import bill has witnessed a significant jump.

The BSE Sensex closed at 34,057 at the end of 2017. It gained 14% to hit a life-time high of 38,897 on 28 August 2018. Thereafter, the Sensex has been in correction mode through September and October. However, after hitting a year-to-date low of 33,349 in the last week of October, the Sensex has reclaimed the 35k level.

While the Sensex has shed most of its gains in 2018, it still doesn't appear so bad in Indian rupee terms. But for foreign investors, the fall in the Sensex has been worse, because they're also exposed the currency risk.

The below chart shows the difference between the performance of the Sensex and the Dollex 30 index (Sensex in US dollar terms).

Dollex-30 Is Down 10% in 2018

You can see how the trend between the Sensex and Dollex-30 diverged since February 2018.

The Dollex-30 index has declined 10% in 2018 so far.

No wonder that foreign investors have been dumping Indian stocks. Since April 2018, foreign investors have sold equities worth Rs 565.5 billion. What is worth noting is that Rs 276.2 billion worth of equities were sold in the month of October alone.

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

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers