Of Protection on Bank Deposits, Business Confidence, and Other Top Cues in Focus Today

Tue, 12 Dec Pre-Open

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Indian share markets witnessed buying interest in yesterday's session and finished firm at closing prices.

At the closing bell yesterday, the BSE Sensex closed higher by 205 points and the NSE Nifty finished higher by 57 points. The S&P BSE Mid Cap finished up by 0.4% while S&P BSE Small Cap finished up by 0.2%. Gains were largely seen in software sector, pharma sector and automobiles sector.

Top Stocks in Focus Today

Market participants will be tracking Bharti Airtel share price from the telecom sector today. The company yesterday reported that it is planning to set up 2,000 mobile towers across villages and national highways in the North East with the help of government funding.

From the mining sector, Coal India share price will be in focus today. It is reported that the company is contemplating foraying into mining of new minerals and metals like iron ore, nickel, bauxite and copper to harness its expertise. Moreover, it is working on various areas including solar power.

Investors will also be tracking stocks from the aviation sector today as the government is likely to change rules to allow foreign airlines to bid for Air India Ltd as long as they have a local joint venture with an Indian partner. Existing rules allow foreign airlines to own as much as 49% in an Indian airline, with the exception of Air India. With the change in rules, the government expects to make the sale of Air India, which has drawn interest from companies including the Tata group and InterGlobe Aviation Ltd (IndiGo), more competitive.

Lupin share price and  HYPERLINK "https://www.equitymaster.com/share-price/CADIL/CADILAHC-532321/CADILA-HEALTHCARE-Share-Price" Cadila Healthcare share price will be in focus in the pharma space. This comes as the pharma majors were reported recalling drugs in the US market. As per the news, the companies are recalling 110,000 units of Duloxetine delayed release capsules and 19,812 bottles of Paroxetine tablets respectively.

Govt. to Raise Protection on Bank Deposits

In the news from the banking sector, as per an article in the Economic Times, the government is considering to raise the protection on bank deposits from the current Rs 1 lakh when the Financial Resolution and Deposit Insurance (FRDI) Bill is taken up for final drafting.

Presently, each depositor is protected only up to a limit of Rs 1 lakh by the guarantee of the Deposit Insurance and Credit Guarantee Corporation (DICGC), beyond which deposits are treated at par with claim of unsecured creditors.

Speaking of FRDI, Vivek Kaul, editor of Vivek Kaul's Diary, has recently shared his thoughts on the topic in a recent article. You can read the same here.

Business Conditions Seen Improving Ahead

In news from the macroeconomic front, the Confederation of Indian Industry's (CII's) Business Confidence Index climbed to 59.7 during October-December 2017. This was against 58.3 seen in the previous quarter and hinted towards an improvement in perception regarding overall economic conditions.

As per the CII's quarterly Business Outlook Survey, Indian companies are optimistic that the country's economic growth will gain traction during the third quarter of fiscal year 2017-18.

Going by the data, business conditions are expected to improve as over 63% of the firms anticipated an increase in sales in October-December 2017.

It will be interesting to see how this pans out. We'll keep you updated on the developments from this space.

Bitcoin Makes its Futures Trading Debut

In the news from cryptocurrency space, Bitcoin witnessed buying interest yesterday after the cryptocurrency made its futures trading debut on Chicago Board Options Exchange (CBOE) Global Markets Inc's exchange.

Note that cryptocurrencies have no central bank backing and have not yet been regulated. Yet, these seem to have found favour among a large number of people, with demand growing every day. There are over 800 cryptocurrencies in existence today, with new ones being added to the list every day.

While the world of digital currencies is intriguing, it can get very confusing for the layman. Our team member, Ankit Shah, Research Analyst, has decided to study cryptocurrencies and help our readers understand them.

Ankit has released a premium guide for Equitymaster Insider subscribers, titled Bitcoin 101 which contains everything you need to know about bitcoins and other digital currencies.

If you haven't been receiving Ankit's insights, get on the Insider's list now.

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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Indian Share Market Update: Top Gainers and Losers