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Developments in the Telecom Space, Global Stock Market Drivers, and Top Cues in Focus Today
Tue, 10 Dec Pre-Open | Monish Vora, TM Team

On Monday, Indian share markets traded on a volatile note throughout the day and ended flat.

The BSE Sensex closed higher by 42 points to end the day at 40,487. HDFC and Axis Bank were among the top gainers.

While the broader NSE Nifty ended up by 15 points to end at 11,937.

Among BSE sectoral indices, oil & gas stocks gained the most, followed by energy stocks and automobile stocks.

Speaking of Indian stock markets, Vijay Bhambwani states why he is positive about the markets and the Indian economy for the next 11 months.

As per Vijay, the US election season is set to have a big impact on India. In the video below, he covers what to expect over the next 11 months. Tune in to find out more...

Top Stocks in Action Today

NTPC share price will be in focus today as the company has inked a term loan agreement for Rs 50 billion with State Bank of India (SBI).

JSW Steel share price will also be in focus today as its crude steel production declined 7% to 1.29 million tonne (LT) during November 2019. The company had produced 1.39 LT crude steel in November 2018.

Market participants will also track Tata Motors share price.

Tata Motors' wholly owned subsidiary - Jaguar Land Rover (JLR) has reported 3.4% fall in total sales at 46,542 units in November as compared with year-ago period.

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Developments in the Telecom Sector

Bharti Telecom, a promoter of Bharti Airtel, has sought government nod for the infusion of Rs 49 billion investment from Singapore-based Singtel and other foreign entities.

Reports state that this move would make the country's oldest private telecom operator a foreign entity.

The fund infusion will enhance foreign stake holding in Bharti Telecom to over 50% that will make it a foreign-owned entity. At present, Sunil Bharti Mittal and his family own around 52% stake in Bharti Telecom.

In other news, Vodafone Idea's Chairman Kumar Mangalam Birla has said that the company might have to shut down its operations if it did not receive any relief from the government.

Birla said the Aditya Birla Group would not invest any money in the company in the absence of relief from the government. "There is no sense that good money should follow bad money," he stated.

Birla said the company would have to opt for insolvency route in the absence of relief.

Vodafone Idea has removed cap from free outgoing calls on other networks under new plans for prepaid customers that came into effect from December 3.

It earlier capped outgoing calls to other telecom operators at 1,000 minutes in the 28-day plan, 3,000 minutes in the 84-day plan and 12,000 in the 365-day plan. Beyond this limit, customers were required to pay 6 paisa per minute for outgoing calls made to other networks.

The third-largest telco in the country has to pay Rs 530.4 billion following the October 24 Supreme Court verdict that broadened the definition of adjusted gross revenue (AGR) to include non-core items.

The government has also said that the amount could go up.

From the Economic Space...

As per a leading financial daily, Chief Economic Advisor KV Subramanian said that though Indian economy is facing a slowdown, the country's potential growth remains unaltered.

The CEA said that the slowdown is more on the cyclical side and he expects things to improve soon as the government is taking the necessary steps to spur growth.

The comments come as the Reserve Bank of India (RBI) recently lowered the growth forecast for the ongoing financial year to 5% from the earlier estimate of 6.1% on account weak domestic and external demand.

According to government data, the country's economic growth slipped to a over six-year low of 4.5% in the second quarter of the current fiscal mainly due to contraction in manufacturing sector output.

On the brighter side, RBI added that, monetary policy easing since February this year, and the measures initiated by the government over the last few months are expected to revive sentiment and spur domestic demand.

Only time will tell how these anticipations pan out. We will keep you updated on all the news from this space. Stay tuned.

Global Stock Market Drivers

Asian stocks edged up on Monday, catching some of Wall Street's momentum after surprisingly strong US jobs data, although gains were capped by concerns about China's economic slowdown due to the prolonged Sino-US trade war.

Wall Street rose to near record highs on Friday on the strong jobs data and some signs of optimism about the US-China trade talks.

US job growth increased by the most in 10 months in November as the healthcare industry boosted hiring and production workers at General Motors returned to work after a strike.

On the commodities front, oil prices fell after data showed that Chinese exports declined for a fourth straight month, sending shivers through a market already concerned about damage being done to global demand by the Sino-US trade war.

Customs data released on Sunday showed exports from the world's second-biggest economy in November fell 1.1% from a year earlier.

As per the economic schedule released by Vijay Bhambwani, here are the important events due later today:

  • Germany - Current Economic Conditions and Trade Sentiments Dec
  • USA - Non-farm Productivity & Unit Labour Cost Q3
  • UK - Q3 GDP Q-o-Q & Y-o-Y, Manufacturing Production & Trade Balance Oct

To know what's moving the Indian stock markets today, 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!

Read the latest Market Commentary

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Stock Market Updates

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Jan 20, 2020 03:53 PM

Here's a list of 5 stocks that gained the most in the BSE Mid-Cap Index today. It also includes information on BSE Mid-Cap index and the broader benchmark indices.

Most Active Small-Cap Stocks Today; IRB INFRA. the Most Traded (Today's Market)

Jan 20, 2020 03:53 PM

Here's a list of most active small-cap stocks today. It also includes information on BSE Smallcap index and the broader benchmark indices.

KEI INDUSTRIES Plunges by 5%; BSE POWER Index Up 0.4% (Today's Market)

Jan 20, 2020 03:32 PM

KEI INDUSTRIES share price has plunged by 5% and its current market price is Rs 544. The BSE POWER is up by 0.4%. The top gainers in the BSE POWER Index are NHPC LTD (up 12.0%) and POWER GRID (up 3.9%). The top losers is KEI INDUSTRIES (down 5.5%).

NESCO at All Time High; BSE CAPITAL GOODS Index Down 0.2% (Today's Market)

Jan 20, 2020 03:06 PM

NESCO share price has hit an all time high at Rs 746 (up 4.6%). The BSE CAPITAL GOODS Index is down by 0.2%. Among the top gainers in the BSE CAPITAL GOODS Index today are NESCO (up 4.6%) and AIA ENGINEERING (up 0.1%). The top losers include ABB INDIA (down 0.1%) and THERMAX (down 0.5%).

UCO BANK Surges by 6%; BSE BANKEX Index Down 1.0% (Today's Market)

Jan 20, 2020 02:16 PM

UCO BANK share price has surged by 6% and its current market price is Rs 17. The BSE BANKEX is down by 1.0%. The top gainers in the BSE BANKEX Index is UCO BANK (up 5.5%). The top losers are AXIS BANK (down 1.0%) and SBI (down 1.0%).

Sensex Falls 200 Points; TCS & HDFC Bank Top Losers (Today's Market)

Jan 20, 2020 12:30 pm

The BSE Sensex is trading down by 184 points, while the NSE Nifty is trading down by 55 points.

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