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Strengthening Rupee, Oil Prices, and Top Stocks in Action Today
Fri, 30 Nov Pre-Open | Monish Vora, TM Team

Indian share markets traded on a positive note yesterday and ended on a strong note. Gains were largely seen in the metal sector, realty sector and banking sector, while IT stocks and power stocks witnessed selling pressure.

At the closing bell on Thursday, the BSE Sensex stood higher by 453 points (up 1.3%) and the NSE Nifty closed higher by 130 points (up 1.2%). The BSE Mid Cap index ended up 0.6% and the BSE Small Cap index ended up by 0.2%.

Top Stocks in Action Today

From the automobiles sector, Tata Motors share price will be in focus today as the company's wholly owned subsidiary - Jaguar Land Rover (JLR) has won the backing of the UK government's 25-million Pounds grant intended to accelerate the development of innovative low-carbon vehicle technologies.

The funding will be provided through the UK's Advanced Propulsion Centre (APC) enabling JLR and others to drive the development of low-carbon propulsion technologies and their supply chains.

To know more about the company, you can access to Tata Motors Q2FY19 result analysis and Tata Motors stock analysis on our website.

From the aviation space, SpiceJet share price will be in focus today as the company has deposited an additional bank guarantee worth Rs 200 million to the Airports Authority of India (AAI) after getting a notice from the state-run airport operator with the low-cost carrier's dues exceeding its bank guarantee.

Wipro share price will also be in focus today as the company's arm Wipro Enterprises' Consumer Care and Lighting business has entered into agreement with Belgian lighting manufacturer Schreder. As part of the agreement, Wipro Lighting will market Schreder's lighting products and solutions in India.

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Market participants will also track Bharti Airtel share price.

Reportedly, the company is eyeing to raise funds worth Rs 120 -150 billion through issue of fresh shares to repay debt and bring down borrowing costs in FY19.

The above move is a part of the company's strategy to raise about Rs 300 billion in three tranches to meet capital expenditure, bolster cash flows, reduce debt and financing costs.

To know more on what moved the Indian stock markets today, you can check out the most recent share market updates here.

Rebound in Rupee

The rupee continued its upward trend yesterday and rose for the third day against the US$.

The rupee touched 69.85 a dollar yesterday which is the first time that the currency has strengthened past 70/$ mark in three months.

This is a big reversal for the rupee which had hit a record low of 74.48 against the US$ on October 11.

The gains in the rupee came amid a broad drop in US dollar against other currencies as well. The dollar slipped after dovish comments from US Federal Reserve Chair Jerome Powell, calming investor concerns over the pace of rate hikes.

Oil Prices Tumble

Oil prices fell below $50 a barrel for the first time in more than a year as Russia signaled little urgency to commit to supply cuts, while US crude stockpiles continue to grow.

Just days before talks on oil policy with Saudi Arabia, Russian President Vladimir Putin said current prices are 'absolutely fine', while Saudi energy minister said the kingdom is confident Organization of Petroleum Exporting Countries (OPEC) and its partners can reach a deal to stabilize the market.

Reportedly, US President Donald Trump is open to a trade deal with China but is also prepared to hike tariffs on imports from the country if there is no breakthrough on longstanding trade issues during a dinner on Saturday with Chinese leader Xi Jinping.

Traders are expecting that the Organization of Petroleum Exporting Countries (OPEC) and allied producers may agree on oil cuts at their gathering next week in Vienna.

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Stock Market Updates

GRINDWELL NORTON at All Time High; BSE CAPITAL GOODS Index Up 2.1% (Today's Market)

May 10, 2021 01:12 PM

GRINDWELL NORTON share price has hit an all time high at Rs 1,142 (up 6.1%). The BSE CAPITAL GOODS Index is up by 2.1%. Among the top gainers in the BSE CAPITAL GOODS Index today are GRINDWELL NORTON (up 6.1%) and HONEYWELL AUTOMATION (up 0.4%). The top losers include AIA ENGINEERING (down 0.2%) and SOLAR INDUSTRIES (down 0.2%).

Sensex Trades Over 300 Points Higher, Dow Futures Up by 86 Points (Today's Market)

May 10, 2021 12:30 pm

BSE Sensex is trading up by 379 points, while the NSE Nifty is trading up by 131 points.

GE T&D INDIA Share Price Up by 5%; BSE CAPITAL GOODS Index Up 1.5% (Today's Market)

May 10, 2021 10:28 AM

GE T&D INDIA share price is trading up by 5% and its current market price is Rs 128. The BSE CAPITAL GOODS is up by 1.5%. The top gainers in the BSE CAPITAL GOODS Index are GE T&D INDIA (up 5.3%) and GRINDWELL NORTON (up 5.8%). The top losers are SCHAEFFLER INDIA and THERMAX (down 0.2%).

Sensex Opens 350 Points Higher; Dr Reddy's Lab & Tata Steel Top Gainers (Today's Market)

May 10, 2021 09:30 am

Indian share markets continue momentum. The BSE Sensex opened up by 352 points, while the Nifty is trading higher by 120 points.

CADILA HEALTHCARE at All Time High; BSE HEALTHCARE Index Up 1.9% (Today's Market)

May 10, 2021 09:58 AM

CADILA HEALTHCARE share price has hit an all time high at Rs 625 (up 3.4%). The BSE HEALTHCARE Index is up by 1.9%. Among the top gainers in the BSE HEALTHCARE Index today are CADILA HEALTHCARE (up 3.4%) and ABBOTT INDIA (up 1.0%). The top losers include J.B.CHEMICALS (down 0.4%) and GSK PHARMA (down 0.4%).

WIPRO at All Time High; BSE IT Index Up 0.3% (Today's Market)

May 10, 2021 09:30 AM

WIPRO share price has hit an all time high at Rs 519 (up 0.5%). The BSE IT Index is up by 0.3%. Among the top gainers in the BSE IT Index today are WIPRO (up 0.5%) and L&T INFOTECH (up 0.3%). The top losers include HEXAWARE TECHNOLOGIES and INFOSYS (down 0.2%).

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