Indian Indices End on a Strong Note, US-China Trade Talks, and Top Cues in Focus Today

Thu, 13 Dec Pre-Open

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Indian share markets continued their momentum throughout the day and ended the day on a strong note. Gains were largely seen in the realty sector, telecom sector and auto sector.

At the closing bell yesterday, the BSE Sensex stood higher by 629 points (up 1.8%) and the  NSE Nifty closed higher by 188 points (up 1.8%). Both, the BSE Mid Cap index and the BSE Small Cap index, ended the day up by 2.5%.

Top Stocks in Focus Today

From the pharma space, Unichem Lab share price will be in focus today as the company yesterday reported that it has received a tentative nod from the US health regulator for generic Tadalafil tablets used for treatment of erectile dysfunction.

Aurobindo Pharma will also 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.

Cadila Healthcare share price will also be focus today as its subsidiary has received approval from the US health regulator to market Ranitidine injection. It is used to treat stomach and duodenal (intestinal) ulcers.

To know more about the company, you can access to Cadila Healthcare's latest result analysis and Cadila Healthcare's stock analysis on our website.

Market participants will also be tracking shares of banking and nonbanking financial companies (NBFCs). Shares of companies and lenders from this space witnessed a sharp rally yesterday on expectations that the new Reserve Bank of India (RBI) governor would announce steps to ease liquidity.

Note that the shares of several lenders have been battered in the recent past amid worries that shrinking liquidity will hurt their earnings.

Shaktikanta Das Appointed the New RBI Governor

In the news from the macroeconomic space, Shaktikanta Das was named as the new governor of the RBI.

Reportedly, former economic affairs secretary Shaktikanta Das had been instrumental in establishing the monetary policy committee (MPC) and the switchover to an inflation targeting regime, among other things. Now that he's moving to the regulatory side, Das may even have to resist some of the ideas he supported when in government.

Das was named the 25th governor of the Reserve Bank of India to succeed Urjit Patel. As we all know, Urjit Patel quit abruptly on Monday amid a bitter dispute over the regulator's autonomy.

The above development came on the back of Reserve Bank of India (RBI) governor Urjit Patel's resignation on Monday.

Patel, whose three-year term was to end in September 2019, is the first governor since 1990 to step down before his term ended.

Patel cited personal reasons for his resignation, but as per the reports, there were undercurrent since the government cited hereto never-used-before provisions of the law to bring him to negotiating table on issues it felt were of national interest.

Owing to the above developments, public sector lenders rallied the most on expectations that Das could support public lenders in recapitalization process. The BSE PSU index closed 1.1% higher on Tuesday. Punjab National Bank shares closed 5.7% higher. Shares of State Bank of India, Bank of Baroda and Axis Bank have all gained in the range of 2-4% each. The BSE PSU index closed 1.1% higher on Tuesday. Punjab National Bank shares closed 5.7% higher. Shares of State Bank of India, Bank of Baroda and Axis Bank have all gained in the range of 2-4% each.

From the International Financial Markets...

In the news from international financial markets, as per a leading financial daily, top officials from the US and China have begun talks to sort out their trade differences.

In particular, they've begun to identify steps that address the concerns of US President Donald Trump on intellectual property and reduce the balance of trade.

As per the news, Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer held a tele-conference with Chinese Vice Premier Liu He Monday night. Tuesday morning, Trump, without referring to the tele-conference, reported that great progress was being made.

The above news led to optimism in global financial as well as domestic stock markets.

In an interview with Reuters, US President Donald Trump also said talks were taking place with Beijing by phone and he would not raise tariffs on Chinese imports until he was sure about a deal.

Of Assembly Elections and More...

The Congress was able to make significant gain in this round of assembly elections. This came it won in three states - Chhattisgarh, Rajasthan, and Madhya Pradesh. It, however, lost to the Mizo National Front (MNF) in Mizoram.

Speaking of elections, are we heading for a volatile election year?

If history is anything to go by, it's time to fasten the seat belt.

Every year before the Indian General Election, the stock market has bordered on the extreme. Two of these elections have also coincided with one of the biggest stock market corrections in recent history.

Why this volatility though? Why should elections matter to the stock markets?

Investors, both domestic and foreign, expect stability at the central government level. A stable government will be in a position to implement a clear roadmap for the future.

On the other hand, a divided mandate could mean policy paralysis and roadblocks. Markets speculate on these factors.

Also, certain sops are announced before the elections to appease the masses. That too has an indirect effect on listed companies.

Should investors be mindful of these factors? Does this one-year volatility even matter for long-term investors?

As per Research Analyst, Girish Shetty, it ideally shouldn't but the year can certainly throw up a lot of opportunities if there is an irrational reaction to high-quality safe stocks.

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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