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Indian Indices End Positively, Oil Prices, and Top Stocks in Action Today
Wed, 19 Dec Pre-Open | Monish Vora, TM Team

On Tuesday, Indian share markets witnessed buying interest during closing hours and ended on a positive note. Gains were seen in the metal sector, capital goods sector and power sector, while FMCG stocks and IT stocks witnessed selling pressure.

At the closing bell on Tuesday, the BSE Sensex stood higher by 77 points (up 0.2%) and the NSE Nifty closed higher by 20 points (up 0.2%). The BSE Mid Cap index ended the day up 0.2% and the BSE Small Cap index ended the day up by 0.5%.

Top Stocks in Action Today

DHFL share price will be in focus today as the company has received approval to disinvest to PGLH of Delaware, Inc, the entire shareholding held in DHFL Pramerica Asset Managers, both directly 17.12% through the company and 32.88% through the company's wholly-owned subsidiary, DHFL Advisory & Investments and 50% held by the company in DHFL Pramerica Trustees. The Board of Directors of the company at their meeting held on December 18, 2018, approved the same.

TCS share price will be in focus today as the IT major has extended its collaboration with Red Hat to build microservices-based open source solutions and frameworks that will accelerate customers' digital transformation journeys.

The collaboration aims to develop industry-specific as well as cross-industry horizontal solutions and frameworks leveraging the Red Hat OpenShift Container Platform, machine learning algorithms, natural language processing engines, and other Red Hat specific products and technologies.

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To know more about the company, you can read TCS Q2FY19 result analysis and TCS annual report analysis on our website.

Glenmark pharma share price will also be in focus today as the company's subsidiary has received the approval from the United States Food and Drug Administration (USFDA) for Fluocinolone Acetonide Oil, 0.01% (Ear Drops), a generic version of DermOtic Oil, 0.01% (Ear Drops), of Hill Dermaceuticals, Inc.

Market participants will also track Bajaj Auto share price.

Reportedly, the auto company has launched the updated version of Platina 110 bike. The new version comes with various features like anti-skid braking system and tubeless tyres as standard fitment. The model already comes with spring-on-spring suspension with Nitrox gas charged shock absorbers to absorb jerks from all types of roads.

Oil Prices Continue Downtrend

Dropping for the third consecutive session, Oil prices fell 4% on reports of swelling inventories and forecasts of record US and Russian output combined with a sharp sell-off in global stock markets.

Prices remained under pressure on concerns around future oil demand amid weakening global economic growth and doubts over the impact of planned production cuts led by the Organization of the Petroleum Exporting Countries (OPEC).

The US crude and Brent have lost more than 30% from early October amid swelling global inventories.

Meanwhile, for the first time, oil production from seven major US shale basins is expected to climb to 8.03 million barrels per day (bpd) by the end of the year.

Supply curbs agreed by OPEC and its Russia-led allies might not bring about the desired results as US output goes on increasing as Iran keeps pumping out more oil. The cuts are also coming from currently high production. Oil output from Russia has been at a record-high of 11.42 million barrels per day (bpd) so far in December.

Strengthening Rupee

On Tuesday, the Indian rupee gained past the 71-mark to hit a near two-week high, tracking gains in Asian peers as oil prices fell and concerns over global economic growth weighed on the dollar.

The Indian rupee on Monday recovered by 34 paise to close at 71.56 against the US dollar.

The recovery came on the back of forex market sentiments driven by the country's narrowing trade deficit in November as also smart gains in domestic equities.

Besides, the American currency's weakness against its major rivals globally helped the rupee further its gains.

According to commerce ministry data, India's trade deficit came down to US$ 16.7 billion in November 2018 from US$ 17.1 billion in October this year.

The US Federal reserve's monetary policy decision is expected to be out today. Reports state that the market is expecting another rate hike when the FOMC meets for the last time this year, although traders will be more interested on the Federal Reserve's dot plot and outlook for the American economy next year.

From the IPO Space...

In the latest developments from the IPO space. As per an article in a leading financial daily, Studds Accessories Ltd, manufacturer of helmets and two-wheeler accessories, has received markets regulator's approval to float an initial share sale.

Reportedly, Studds Accessories' IPO comprises fresh issuance of shares worth Rs 980 million besides an offer-for-sale of 3.9 million equity shares by promoters Madhu Bhushan Khurana and Sidhartha Bhushan Khurana, and other existing shareholders.

Proceeds of the issue will be used to part-finance the motorcycle helmet, two-wheeler accessories, bicycle helmet manufacturing facilities in Faridabad, and for general corporate purposes.

Edelweiss Financial Services and IIFL Holdings will manage the company's public issue, the reports noted.

With the IPOs again set to hit the markets, we at Equitymaster believe a merit-based selection, primarily including valuation, business, and management quality, is the logical way to go about investing in IPOs.

If it means going against the herd, so be it. And going by recent past, this strategy has been proven to be successful more often.

To know how to safely profit from the ongoing IPO rush, download this FREE report now and discover How to Get Rich with IPOs.

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

Sensex Ends Marginally Higher; Oil & Gas Stocks Witness Buying (Today's Market)

Jan 18, 2019 Closing

The BSE Sensex ended the day up by 13 points, while the NSE Nifty stood flat.

Sensex Trades Marginally Lower; Telecom & Healthcare Stocks Drag (Today's Market)

Jan 18, 2019 12:30 pm

The BSE Sensex is trading down by 81 points, while the NSE Nifty is trading down by 26 points.

SUN TV Plunges by 5%; BSE 500 Index Down 0.3% (Today's Market)

Jan 18, 2019 11:24 AM

SUN TV share price has plunged by 5% and its current market price is Rs 568. The BSE 500 is down by 0.3%. The top gainers in the BSE 500 Index are SREI INFRA FINANCE (up 3.7%) and HIND. CONSTRUCTION (up 3.6%). The top losers are SUN TV (down 5.2%) and BHARTI AIRTEL (down 5.8%).

VODAFONE IDEA Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Jan 18, 2019 11:16 AM

VODAFONE IDEA share price has plunged by 5% and its current market price is Rs 37. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are SREI INFRA FINANCE (up 4.2%) and HIND. CONSTRUCTION (up 4.1%). The top losers are VODAFONE IDEA (down 5.2%) and BHARTI AIRTEL (down 5.6%).

BHARTI AIRTEL Plunges by 5%; BSE 500 Index Down 0.2% (Today's Market)

Jan 18, 2019 11:10 AM

BHARTI AIRTEL share price has plunged by 5% and its current market price is Rs 332. The BSE 500 is down by 0.2%. The top gainers in the BSE 500 Index are SREI INFRA FINANCE (up 4.2%) and HIND. CONSTRUCTION (up 4.1%). The top losers are BHARTI AIRTEL (down 5.1%) and HSIL LTD (down 5.9%).

HIND. CONSTRUCTION Surges by 7%; BSE REALTY Index Down 0.0% (Today's Market)

Jan 18, 2019 10:54 AM

HIND. CONSTRUCTION share price has surged by 7% and its current market price is Rs 14. The BSE REALTY is down by 0.0%. The top gainers in the BSE REALTY Index is HIND. CONSTRUCTION (up 6.6%). The top losers are HOUSING DEV. INFRA (down 0.4%) and INDIABULLS REAL EST (down 0.5%).

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