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Rising US Interest Rates; Trade tensions; Oil Prices & Top Stocks in Focus Today
Mon, 26 Nov Pre-Open | Rini Mehta, TM Team

Indian share markets ended the week on a negative note on Thursday as Friday was a trading holiday on account of Guru Nanak Jayanti. At the closing bell, the Sensex was down 219 points, while the Nifty was lower by 73 points.

All the sectoral indices on BSE, except capital goods, posted losses with metal, telecom, power, realty, and consumer durables falling over 1%.

Among stocks, Adani Gas rose 14% on Thursday. It extended its rally of over 25% in the past two days, thereby joining in the Rs 100-billion market capitalization (market cap) club.

Meanwhile, the Indian rupee strengthened for the seventh consecutive day, its longest winning streak since February 2017, against the US dollar as falling crude oil prices reduced fears of fiscal slippage and higher inflation.

Top Stocks in Focus

Cadila Healthcare will be in focus today as Zydus received US Food and Drug Administration (USFDA) nod for atorvastatin calcium tablets.

Meanwhile, USFDA inspected Indoco Remedies' Sterile facility (Plant II) and Solid Dosages facility (Plant III) situated at Goa from 14 to 21 November 2018. The stock will be in news.

Bharti Airtel share price will hog limelight today after it was reported that Mukesh Ambani's Reliance Jio will replace Bharti Airtel as service provider for Railways from January 1.

DHFL will be in focus as the company reported a net profit of Rs 4.4 billion during the July-September quarter against a net profit of Rs 2.9 billion in the same quarter last year.

By the way, you can read our recently released Q2FY19 result analysis of the following companies: Asian Paints, TVS Motors, Wipro, Ambuja Cement, HDFC Bank, Infosys and more.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

Air Passenger Growth in October Slows

As per the data released by the Directorate General of Civil Aviation (DGCA), domestic passenger growth during the month of October slowed a bit and registered a growth of about 13.3% during October compared to that a year ago.

As per the data, Indian carriers carried 11.8 million passengers during the month, up from 10.5 million in October 2017.

As a result, all key scheduled carriers reported lower load factors than past month but flew their planes with close to 80% of their seats full.

SpiceJet continued to maintain its pole position in terms of load factor by flying its planes 90.8% full, followed by GoAir, which flew its planes with 84.1% followed by IndiGo that flew its flights with 83.1% seats full.

Speaking of airline sector, India's domestic air traffic has seen a prolific growth of 20-25% during 2015 and 2016. And in 2017, it tapered to 17.4%. However, for the first time, domestic air traffic crossed an important landmark of 100 million passengers during the previous year.

What's foreseeable for India's aviation traffic now is some pressure on the back of the consistent rise in crude oil prices.

Oil prices are closely monitored by the Indian air carriers, as aviation turbine fuel is their single largest input cost. A sharp rise in the cost of fuel puts pressure on margins, and consequently an increase in air fares.

Although air travel is becoming the new normal, investors need to understand the industry dynamics before buying up aviation stocks.

Global Stock Market Drivers

On Thursday, European stocks declined, and US equity futures turned lower on a subdued day of trading thanks to the American Thanksgiving holiday. The euro advanced and oil fell. Asian equity benchmarks swung between gains and losses before turning higher, with Japanese stocks getting an end-of-session boost on a report about a possible government rebate.

Investor sentiment remained fragile following the volatility that's rocked markets since October, wiping out many equity gains for the year.

Markets worldwide have been under pressure because of rising US rates and trade tensions with China.

Oil Prices Fall

Oil prices dipped on Thursday after US crude inventories increased to their highest level since December 2017 amid concerns of an emerging global glut. However, an expected supply cut by producer cartel OPEC prevented further drops.

US West Texas Intermediate (WTI) crude futures, were at US$53.4 per barrel, 0.5% below their last settlement. Front-month Brent crude oil futures were at US$63.3 per barrel, 0.3%, from their last close.

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Stock Market Updates

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Aug 12, 2020 02:41 PM

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HCL TECHNOLOGIES at 52 Week High; BSE 500 Index Down 0.1 % (Today's Market)

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HCL TECHNOLOGIES share price has hit a 52-week high. It is presently trading at Rs 719. BSE 500 Index is down by 0.1% at 14,753. Within the BSE 500, HCL TECHNOLOGIES (up 5.0%) and IDFC (up 17.6%) are among the top gainers, while top losers are RESPONSIVE INDUSTRIES and HINDUSTAN ZINC.

Indian Indices Recover from Day's Low; SBI Jumps 4% (Today's Market)

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The BSE Sensex is trading down by 63 points, while the NSE Nifty is trading down by 23 points.

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