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Sensex Trades Marginally Lower; HDFC & Bharti Airtel Top Losers
Tue, 4 Dec 12:30 pm | Monish Vora, TM Team

Share markets in India are presently trading marginally lower. Sectoral indices are trading mixed with stocks in the IT sector and oil & gas sector witnessing maximum buying interest while realty stocks and metal stocks are witnessing selling pressure.

The BSE Sensex is trading down by 142 points (down 0.4%), while the NSE Nifty is trading down by 23 points (down 0.2%). The BSE Mid Cap index is trading on a flat note and the BSE Small Cap index is trading up by 0.3%.

The rupee recovered from the day's low point and is presently trading at 70.35 against the US$.

The rupee had posted its biggest single-day loss in three months on Monday by falling 88 paise. Rupee fell against the US$ after appreciating for three successive sessions as global crude oil prices stabilized ahead of the important OPEC meeting scheduled later this week.

Traders will closely watch the outcome of the RBI and OPEC meet policy. Reportedly, the Reserve Bank of India (RBI) is likely to keep interest rate unchanged.

Despite its recent weakness, the rupee is sharply higher from its October lows of 74.48 a dollar, helped by a moderation in oil prices. On Friday, the rupee had closed at a four-month high of 69.58 against the US dollar.

Also, speaking of rupee, note that the Indian rupee is the worst performer in Asia in 2018.

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Here's what we wrote about rupee and its repercussions in one of the edition of The 5 Minute WrapUp...

  • The rupee is under pressure due to a strong dollar and high oil prices. Similarly, the spill-over from the emerging-market turmoil in Argentina and Turkey is weighing on the rupee.

    The falling rupee is also triggering sales of bonds and stocks, which in turn is further pressuring the rupee.

    Nevertheless, last week, the government announced several measures. This includes cutting down non-necessary imports, removal of withholding tax on rupee-denominated bonds, and easing overseas borrowing norms.

    That said, in the near term, the rupee being under pressure could benefit export-oriented businesses.

HUL share price and GSK Consumer share price are in focus today as Hindustan Unilever Ltd (HUL) is set to merge with GSK Consumer for a transaction valued at Rs 317 billion in India's largest deal in consumer goods space.

The Indian unit of Unilever Plc will merge with GSK consumer healthcare with itself in an all stock deal that will give the country's largest pure-play consumer goods company access to Horlicks, Boost and Maltova malted drinks brands as well as distribution rights for a five-year period over over-the-counter and oral care brands such as Sensodyne, Eno and Crocin.

Moving on to the news from the automobiles space, Tata Motors share price is witnessing buying interest today as the company's wholly owned subsidiary - Jaguar Land Rover (JLR) has launched a special edition of its Jaguar XJ model for Rs 11.1 million in India to celebrate 50 years of the company's flagship luxury saloon. The special edition, XJ50 will be available in long wheelbase with 3 litre diesel engine option.

Last week, JLR reduced the workforce at the plant in Solihull, Central England. The company also reported that the external environment remains challenging and decisive actions are taken to achieve the necessary operational efficiencies to safeguard long term success.

In other news, Jaguar Land Rover (JLR) has also 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.

Tata Motors share price is presently trading up by 0.7%

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

Speaking of blue-chip automobile stocks, one out of every three household in India is a buyer of their products. They own some of the cult brands in Indian automobile space.

Bluechip Auto Are Stocks Way Off Their Valuation Peaks

They have formidable R&D teams. They have been through several economic cycles over decades. Few have even visited near-bankruptcy in the past and come out successful.

Yet, some of the biggest passenger car, commercial vehicle, and two-wheeler companies in India have seen a huge dent in valuations in recent times.

Tanushree Banerjee, Co-head of Research at Equitymaster believes, this could be the opportunity long term investors were waiting for.

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 Marginally Higher; Automobile and Power Stocks Witness Buying (Today's Market)

Aug 16, 2019 Closing

The BSE Sensex ended the day up by 39 points, while the NSE Nifty closed up by 18 points.

PIDILITE INDUSTRIES at All Time High; BSE FMCG Index Up 0.4% (Today's Market)

Aug 16, 2019 03:34 PM

PIDILITE INDUSTRIES share price has hit an all time high at Rs 1,373 (up 1.7%). The BSE FMCG Index is up by 0.4%. Among the top gainers in the BSE FMCG Index today are PIDILITE INDUSTRIES (up 1.7%) and P&G HYGIENE (up 0.2%). The top losers include AVANTI FEEDS (down 0.1%) and COLGATE (down 0.1%).

APL APOLLO TUBES Surges by 6%; BSE CAPITAL GOODS Index Down 0.1% (Today's Market)

Aug 16, 2019 03:32 PM

APL APOLLO TUBES share price has surged by 6% and its current market price is Rs 1,350. The BSE CAPITAL GOODS is down by 0.1%. The top gainers in the BSE CAPITAL GOODS Index are APL APOLLO TUBES (up 6.4%) and SUZLON ENERGY (up 6.7%). The top losers are LAKSHMI MACHINE (down 0.2%) and HONEYWELL AUTOMATION (down 0.4%).

CANARA BANK Surges by 5%; BSE BANKEX Index Up 0.8% (Today's Market)

Aug 16, 2019 03:30 PM

CANARA BANK share price has surged by 5% and its current market price is Rs 237. The BSE BANKEX is up by 0.8%. The top gainers in the BSE BANKEX Index is CANARA BANK (up 5.2%). The top losers is HDFC BANK (down 0.2%).

ECLERX SERVICES Plunges by 5%; BSE IT Index Down 0.8% (Today's Market)

Aug 16, 2019 03:30 PM

ECLERX SERVICES share price has plunged by 5% and its current market price is Rs 519. The BSE IT is down by 0.8%. The top gainers in the BSE IT Index are FIRSTSOURCE SOL. (up 3.5%) and ORACLE FINANCIAL (up 3.2%). The top losers is ECLERX SERVICES (down 5.5%).

DR. LAL PATHLABS LTD Surges by 7%; BSE HEALTHCARE Index Down 0.3% (Today's Market)

Aug 16, 2019 03:22 PM

DR. LAL PATHLABS LTD share price has surged by 7% and its current market price is Rs 1,201. The BSE HEALTHCARE is down by 0.3%. The top gainers in the BSE HEALTHCARE Index are DR. LAL PATHLABS LTD (up 7.1%) and APOLLO HOSPITALS (up 8.1%). The top losers are STRIDES PHARMA SCIENCE (down 0.1%) and SANOFI INDIA (down 0.2%).

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