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Sensex Trades Marginally Higher; Yes Bank & Tata Motors Top Gainers
Mon, 19 Nov 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading on a positive note. Sectoral indices are trading on a positive note with stocks in the realty sector and metal sector witnessing maximum buying interest while oil & gas stocks are witnessing selling pressure.

The BSE Sensex is trading up by 141 points (up 0.4%), while the NSE Nifty is trading up by 33 points (up 0.3%). The BSE Mid Cap index is trading up 0.4%, while the BSE Small Cap index is trading up by 0.3%.

The rupee is trading at Rs 71.89 against the US$.

In the news from the aviation space, Jet Airways share price is witnessing selling pressure today. Reportedly, Tata Sons on Friday clarified that discussions with Jet Airways have been preliminary and no proposal has been made.

Note that last month reports 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.

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.

In the news from the banking space, Yes bank share price is in focus today as a search panel entrusted with finding Rana Kapoor's successor to lead the bank has shortlisted multiple names, including those serving foreign as well as domestic lenders.

The stock also gained as rating agency ICRA retained its long-term rating of 'ICRA AA+' for the bank.

Yes bank share price is trading up by 5.8%.

Moving on to the news from the commodity space, crude oil was witnessing buying interest today as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end.

Despite that, market sentiment remains weak on signs of a demand slowdown amid deep trade disputes between the world's two biggest economies, US and China.

The Organization of the Petroleum Exporting Countries (OPEC), de-facto led by Saudi Arabia, is pushing for the producer cartel and its allies to cut 1 million to 1.4 million barrels per day of supply to adjust for a slowdown in demand growth and prevent oversupply.

Speaking of crude oil, India's crude oil production was lower by 4.2% in September 2018 as compared to last year, as can be seen from the chart below.

India's Increasing Crude Oil Demand Supply Gap

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.

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

JET AIRWAYS Surges by 10%; BSE 500 Index Down 1.0% (Today's Market)

Mar 25, 2019 03:06 PM

JET AIRWAYS share price has surged by 10% and its current market price is Rs 249. The BSE 500 is down by 1.0%. The top gainers in the BSE 500 Index is JET AIRWAYS (up 10.2%). The top losers are SUNDRAM FASTENERS and RBL BANK LTD .

IRB INFRA. Plunges by 5%; BSE REALTY Index Down 1.8% (Today's Market)

Mar 25, 2019 03:06 PM

IRB INFRA. share price has plunged by 5% and its current market price is Rs 144. The BSE REALTY is down by 1.8%. The top losers is IRB INFRA. (down 5.5%).

EDELWEISS FINANCIAL Plunges by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 25, 2019 02:44 PM

EDELWEISS FINANCIAL share price has plunged by 5% and its current market price is Rs 194. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are RURAL ELECTRIFICATION (up 8.7%) and TTK PRESTIGE (up 5.9%). The top losers are EDELWEISS FINANCIAL (down 5.0%) and BOMBAY DYEING (down 5.5%).

MAGMA FINCORP Plunges by 5%; BSE 500 Index Down 1.1% (Today's Market)

Mar 25, 2019 02:10 PM

MAGMA FINCORP share price has plunged by 5% and its current market price is Rs 109. The BSE 500 is down by 1.1%. The top gainers in the BSE 500 Index are RURAL ELECTRIFICATION (up 8.7%) and POWER FINANCE CORPORATION (up 4.9%). The top losers are MAGMA FINCORP (down 5.0%) and BOMBAY DYEING (down 5.4%).

JINDAL SAW LTD Plunges by 5%; BSE METAL Index Down 1.5% (Today's Market)

Mar 25, 2019 02:08 PM

JINDAL SAW LTD share price has plunged by 5% and its current market price is Rs 89. The BSE METAL is down by 1.5%. The top gainers in the BSE METAL Index is COAL INDIA (up 0.7%). The top losers is JINDAL SAW LTD (down 5.1%)..

Sensex Opens Over 300 Points Down; Realty and Metal Stocks Drag (Today's Market)

Mar 25, 2019 09:30 am

Indian share markets open in red. The BSE Sensex opened down by 343 points, while the Nifty is trading down by 96 points.

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