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Sensex Ends 317 Points Higher; Realty and FMCG Stocks Witness Buying
Mon, 19 Nov Closing | Monish Vora, TM Team

Indian share markets continued to trade on a positive note during closing hours of trade and ended the day on a strong note. Gains were largely seen in the realty sector and FMCG sector.

At the closing bell, the BSE Sensex stood higher by 317 points (up 0.9%) and the NSE Nifty closed higher by 81 points (up 0.8%). The BSE Mid Cap index ended the day up by 0.3%, while the BSE Small Cap index ended the day up by 0.4%.

Asian stock markets finished on a positive note as of the most recent closing prices. The Hang Seng stood up by 0.7% and the Nikkei was trading up by 0.6%. The Shanghai Composite stood higher by 0.9%.

European markets were trading on a mixed note. The FTSE 100 was up by 0.27%. The DAX was down by 0.02% while the CAC 40 was up by 0.01%.

The rupee was trading at 71.56 to the US$ at the time of writing.

From the commodity space, crude oil was witnessing buying interest today as traders expected top exporter Saudi Arabia to push OPEC to cut supply towards the end of the year.

Note that OPEC's de-facto leader Saudi Arabia wants the cartel and its allies to cut output by about 1.4 million barrels per day (bpd), around 1.5% of global supply.

However, while OPEC is considering withholding supply, US crude oil production reached another record high last week at 11.7 million barrels per day (bpd), according to U.S. Energy Information Administration (EIA). So, this, on the other hand, is helping cap the sharp rise in crude oil prices.

Speaking of crude oil, India's crude oil production was lower by 4.2% in September 2018 as compared to last year.

The worrying factor is this was the lowest production this year.

Here's what Tanushree Banerjee wrote about it in one of the recent editions of The 5 Minute WrapUp...

  • Comparing domestic production with the crude oil processed by refineries gives an idea of the demand supply gap. Low domestic production as compared to the demand for crude oil places a huge burden on India's import bill.

    Rising crude oil prices could have severe implications. Rising inflation. Rising interest rates. Pressure on the government to cut excise duty, thereby impacting its revenues.

    We have seen some of this play out. With elections around the corner, expect a lot of subsidies on fuel prices. This is bound to worsen India's fiscal deficit further.

It would be interesting to see how this pans out. Meanwhile, we will keep you updated on all the developments from this space.

From the banking space, Yes Bank share price was in focus today as a search panel entrusted with finding Rana Kapoor's successor to lead YES Bank has shortlisted multiple names. As per the news, the names include those serving foreign as well as domestic lenders.

The above development comes as last week Ashok Chawla stepped down as the bank's non-executive chairman.

The lender also witnessed buying interest today as ICRA Ratings retained its long-term rating of 'ICRA AA+' for the bank.

Speaking of corporate banks, Sarvajeet offers an interesting observation on a corporate bank stock.

Here's what he wrote in one of the recent editions of The 5 Minute WrapUp...

From the aviation sector, Jet Airways share price was also in focus today after Tata Sons said that while it is in preliminary discussions with Jet Airways, it is yet to make any formal proposal.

Apart from the above, as per a leading financial daily, reports that the airline had to cancel 10 domestic flights from Mumbai on Sunday due to operational reasons weighed down the stock.

Last week, it was reported that the board of Tata Sons is in the midst of a meeting to vet a proposal to buy out the cash-strapped Jet Airways, after which the share price of the company climbed up as much as 26%.

Reports last month had also stated that Jet Airways is trimming its workforce and operations further as it struggles through its financial crisis.

As per a leading financial daily, at least 15 people at manager or general manager level in departments such as engineering, security and sales have been asked to leave in October. It is also reported that the airline has grounded eight of its planes at the Mumbai and Chennai airports.

The company had also deferred announcing the June quarter numbers to an unspecified late date.

Amid rising concerns over the airline's financial health and proposed salary reductions for employees, Jet Airways chairman said a new committee would be set up to improve public perception.

Later, the company reported a whopping Rs 13.2 billion of net losses for the June quarter due to higher fuel cost, falling rupee and low fares. The company said it will monetize loyalty programme JetPrivilege and wet-lease some of its small aircraft to mobilise urgent working capital.

This was the second straight quarter of losses for the Naresh Goyal-run airline, which had last month publicly admitted to cash-flow issues. The airline had booked net profit of Rs 535 million in the year-ago period, while in the March quarter it had reported net losses of Rs 10.4 billion.

The airline said its fuel cost soared 53% to Rs 23.3 billion in the quarter, while low fares had revenue inching up to Rs 60.7 billion from Rs 59.5 billion.

On a consolidated basis, the net loss stood at Rs 13.3 billion, against a net profit of Rs 580 million a year ago.

The second back-to-back quarterly loss forced Jet Airways, which delayed the result announcement on August 9 indefinitely, to announce a turnaround plan which includes a capital infusion by selling a stake in JetPrivilege, and a massive cost-cutting to save around Rs 20-billion over the next two years.

To know more about the company, you can access to Jet Airways' latest result analysis and Jet Airways' 2017-18 Annual Report Analysis on our website.

It would be interesting to see how the above proposed acquisition deal finalizes. Meanwhile, we will keep you updated on all the developments from this space.

To know more on what moved the Indian stock markets today, you can 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 222 Points Lower; Energy and Telecom Stocks Witness Selling (Today's Market)

Mar 22, 2019 Closing

The BSE Sensex ended the day down by 222 points, while the NSE Nifty closed down by 64 points.

NARAYANA HRUDAYALAYA LTD Surges by 5%; BSE HEALTHCARE Index Down 0.6% (Today's Market)

Mar 22, 2019 03:33 PM

NARAYANA HRUDAYALAYA LTD share price has surged by 5% and its current market price is Rs 225. The BSE HEALTHCARE is down by 0.6%. The top gainers in the BSE HEALTHCARE Index is NARAYANA HRUDAYALAYA LTD (up 5.4%). The top losers are LAURUS LABS LTD (down 0.1%) and SUN PHARMA (down 0.2%).

RELIANCE INFRA Plunges by 5%; BSE POWER Index Up 1.1% (Today's Market)

Mar 22, 2019 03:31 PM

RELIANCE INFRA share price has plunged by 5% and its current market price is Rs 139. The BSE POWER is up by 1.1%. The top gainers in the BSE POWER Index are NTPC (up 4.6%) and GMR INFRA (up 1.8%). The top losers is RELIANCE INFRA (down 5.1%)..

INDIABULLS REAL EST Plunges by 5%; BSE REALTY Index Up 1.0% (Today's Market)

Mar 22, 2019 02:25 PM

INDIABULLS REAL EST share price has plunged by 5% and its current market price is Rs 97. The BSE REALTY is up by 1.0%. The top gainers in the BSE REALTY Index are PRESTIGE ESTATES (up 7.5%) and OBEROI REALTY (up 4.0%). The top losers is INDIABULLS REAL EST (down 5.5%)..

SECURITY AND INTELLIGENCE SER. Plunges by 5%; BSE 500 Index Down 0.6% (Today's Market)

Mar 22, 2019 02:23 PM

SECURITY AND INTELLIGENCE SER. share price has plunged by 5% and its current market price is Rs 876. The BSE 500 is down by 0.6%. The top gainers in the BSE 500 Index are SPICEJET (up 7.5%) and PRESTIGE ESTATES (up 7.4%). The top losers are SECURITY AND INTELLIGENCE SER. (down 5.0%) and DILIP BUILDCON LTD (down 5.2%).

MOTHERSON SUMI Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Mar 22, 2019 02:07 PM

MOTHERSON SUMI share price has plunged by 5% and its current market price is Rs 159. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are RELIANCE COMMUNICATIONS (up 9.9%) and PRESTIGE ESTATES (up 9.1%). The top losers are MOTHERSON SUMI (down 5.2%) and VA TECH WABAG (down 5.3%).

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