Indian Indices End Positively, Oil Prices, and Top Stocks in Action Today

Wed, 12 Dec Pre-Open

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On Tuesday, Indian share markets witnessed buying interest during closing hours and ended on a positive note. Gains were largely seen in the consumer durables sector and healthcare sector, while oil & gas stocks witnessed selling pressure.

At the closing bell, the BSE Sensex stood higher by 190 points (up 0.5%) and the NSE Nifty closed higher by 61 points (up 0.6%). Both, the BSE Mid Cap index and the BSE Small Cap index, ended the day up by 1.5%.

Top Stocks in Action Today

Aurobindo Pharma will be in focus today as the company's wholly owned subsidiary - Helix Healthcare B.V, Netherlands, has entered into an agreement with Shandong Luoxin Pharmaceutical Group, China (Luoxin) to establish a joint venture (JV) company in China with manufacturing facilities to manufacture nebuliser inhaler and other products for China, US and EU markets.

To know more about the company, you can access Aurobindo pharma Q2FY19 result analysis and Aurobindo pharma Annual report on our website.

From the automobiles sector, M&M will also be in focus today as Mahindra Racing has launched M5 Electro race car in India, ahead of the fifth season of the 2018-19 ABB FIA Formula E Championship. M5 Electro is based on generation two of the Formula-E race-car, featuring cutting-edge EV powertrain technology. It will be able to touch 100km/hour in just 2.8 seconds and go on to a top speed of 280 km/hour.

HCL Technologies has entered into a new five-year contract with multinational life insurance, pensions and asset management company Aegon. The application services deal will see HCL continue as Aegon's digital transformation partner, helping to accelerate innovation by establishing and managing a new multi-vendor ecosystem.

Market participants will also track Jet Airways.

Reportedly, the airline has inked an agreement with Saudi budget airline Flynas to operate codeshare flights in each other's territories.

Oil Prices Under Pressure

Oil prices were under pressure amid worries over global stock markets and doubts that planned output cuts led by producer club OPEC will be enough to rein in oversupply.

Oil prices edged up on Tuesday after Libya's National Oil Company declared force majeure on exports from the El Sharara oilfield, which was seized at the weekend by a local militia group.

The rise came after crude prices dropped by 3% the session before amid ongoing weakness in global stock markets and concerns that slowing oil demand-growth could erode supply cuts announced last week by the Organization of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including Russia.

Note that, crude futures have lost around a third of their value since early October amid the financial market slump and an emerging oil supply overhang.

Russia plans to cut its oil output by 50,000 to 60,000 bpd in January, its energy minister said on Tuesday, much less than its target under a global production deal reached last week.

The OPEC-led group of oil producers last Friday announced a supply cut of 1.2 million barrels per day (bpd) in crude oil supply from January, measured against October 2018 output levels.

Global Stock Market Drivers

Global stocks rose tentatively on Tuesday as investors picked through the rubble of conflagrations in some of the world's top economies amid uncertainty over Brexit, a China-US trade war, and French protests.

Contact between China and the United States boosted stocks in Asia and Europe while sterling floundered near 20-month lows as the market sought clarity on the next steps for Brexit after Britain's prime minister postponed a vote on her deal.

Bond markets in Europe were focused on France as investors fretted over fiscal spending after the government announced concessions aimed at defusing weeks of often violent protests.

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

Speaking of stock markets, with the state and general elections ahead, market participants expect the stock markets to remain volatile. In our latest episode of Indian Stock Market Podcast, Rahul Shah talks about his mantra to ride out the volatility in times like these. Listen in... visit SoundCloud, iTunes or  Stitcher.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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