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Surging of India VIX; Renewed US-China Tensions; & Top Stocks in Action Today
Mon, 24 Dec Pre-Open | Rini Mehta, TM Team

On Friday, Indian share markets fell sharply, tracking the sharp correction in global peers after the threat of a US government shutdown and of further hikes in US borrowing costs.

The Sensex slumped over 600 points dragged by Infosys, Reliance Industries and HDFC. While, the Nifty 50 traded below the 10,800 level. Even volatility benchmark India VIX jumped nearly 12% to 15.99, indicating increase in volatility in the market.

All the sectoral indices traded in negative territory.

The Indian rupee fell below 70 a dollar and slumped 0.8%.

Top Stocks in Focus

Aurobindo Pharma share price will be in focus today as the company has received final approval from the US Food & Drug Administration (USFDA) to manufacture and market Potassium Chloride ExtendedRelease tablets, 8 mEq (600 mg) and 10 mEq (750 mg).

Meanwhile, Sun Pharmaceutical Industries wholly owned subsidiary has also been granted approval by USFDA for the New Drug Application (NDA), ElepsiaTM XR 1000 mg (levetiracetam 1000 mg) and ElepsiaTM XR 1500 mg (levetiracetam 1500 mg).

The government is making efforts to manufacture lithium-ion batteries in India in the next one year, and talks are on between BHEL and a US firm to form a joint venture in this regard. The stock will be in focus today.

Another stock that will be watched out today will be SpiceJet. The company reported the Passenger Load Factor (PLF) of 91.1% during the month of November 2018. The company had reported PLF of 90.8% during the month of October 2018.

Meanwhile, InterGlobe Aviation (IndiGo) reported the Passenger Load Factor (PLF) of 84.9% during the month of November this year as against 83.1% during October 2018.

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

By the way, you can read our recently released Q2FY19 result analysis of the following companies: Asian Paints, TVS Motors, Wipro, Ambuja Cement, HDFC Bank, Infosys and more.

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Global Stock Market Drivers

The pain across stock markets continued on Friday, with European stocks following Asian shares lower and US futures pointing to yet more declines at the open.

The dollar reversed a drop as Chinese policy makers moved to shore up growth, and bonds in Europe retreated.

Renewed trade tensions between and concern about a partial US government shutdown added to the list of headwinds facing riskier assets last week. And all of these tensions were compounded when the Federal Reserve proved less dovish than some investors had hoped on Wednesday.

Next up, investors will look forward to the latest US personal income and spending data, along with a gauge of inflation.

Oil Prices Resume Drop

Oil prices slid over 4% on Friday, bringing Brent's losses since its October top to 37%.

Both Brent and US crude futures reached their lowest in more than a year overnight amid a glut of supply.

US crude eked out a 46-cent bounce in Asia on Friday to US$46.33 a barrel, while Brent was yet to trade at US$54.70.

Bank Credit Grows

According to the latest RBI data, Bank credit rose at a healthy 15.1% to Rs 92 trillion in the fortnight to 7 December, while deposits grew 9.7% to Rs 118.8 trillion.

In the year-ago fortnight, advances were at 80 trillion and deposits at Rs 108.4 trillion.

In the previous fortnight ended 23 November, credit has risen by 15.1% to Rs 91.3 trillion, while deposits surged 9.4% to Rs 118.1 trillion.

In October this year, non-food credit rose 13.4% compared to an increase of 6.6% in the same month last year. Credit to the services sector expanded 27.4% in the month compared to 9.4% a year ago.

Loans to agriculture and allied activities increased 8% in October compared to an increase of 5.5% in October last year.

Credit to the industry rose by 3.7% in October 2018 as against a contraction of 0.2% in October 2017.

Personal loans rose 16.8% in October as against 16% in October 2017.

Note that, an important indicator of business health is credit off-take. Declining credit growth implies a slowdown in business. While, a rise in credit growth implies an increased business activity.

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

SADBHAV ENGINEERING Plunges by 5%; BSE CAPITAL GOODS Index Down 1.2% (Today's Market)

Aug 22, 2019 03:34 PM

SADBHAV ENGINEERING share price has plunged by 5% and its current market price is Rs 123. The BSE CAPITAL GOODS is down by 1.2%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 1.8%) and HAVELLS IND (up 1.0%). The top losers are SADBHAV ENGINEERING (down 5.2%) and HEG (down 6.5%).

SUNTECK REALTY Plunges by 5%; BSE REALTY Index Down 6.2% (Today's Market)

Aug 22, 2019 03:34 PM

SUNTECK REALTY share price has plunged by 5% and its current market price is Rs 448. The BSE REALTY is down by 6.2%. The top gainers in the BSE REALTY Index are OMAXE LTD (up 3.0%) and PRESTIGE ESTATES (up 0.4%). The top losers are SUNTECK REALTY (down 5.0%) and OBEROI REALTY (down 5.5%).

SUNTECK REALTY Plunges by 5%; BSE REALTY Index Down 6.2% (Today's Market)

Aug 22, 2019 03:32 PM

SUNTECK REALTY share price has plunged by 5% and its current market price is Rs 448. The BSE REALTY is down by 6.2%. The top gainers in the BSE REALTY Index are OMAXE LTD (up 3.0%) and PRESTIGE ESTATES (up 0.4%). The top losers are SUNTECK REALTY (down 5.0%) and OBEROI REALTY (down 5.5%).

SADBHAV ENGINEERING Plunges by 5%; BSE CAPITAL GOODS Index Down 1.2% (Today's Market)

Aug 22, 2019 03:32 PM

SADBHAV ENGINEERING share price has plunged by 5% and its current market price is Rs 123. The BSE CAPITAL GOODS is down by 1.2%. The top gainers in the BSE CAPITAL GOODS Index are BHARAT ELECTRONICS (up 1.8%) and HAVELLS IND (up 1.0%). The top losers are SADBHAV ENGINEERING (down 5.2%) and HEG (down 6.5%).

BAJAJ FINSERV Plunges by 5%; BSE 500 Index Down 1.7% (Today's Market)

Aug 22, 2019 03:32 PM

BAJAJ FINSERV share price has plunged by 5% and its current market price is Rs 7,185. The BSE 500 is down by 1.7%. The top gainers in the BSE 500 Index are PERSISTENT SYSTEMS (up 3.7%) and PI INDUSTRIES (up 3.1%). The top losers are BAJAJ FINSERV (down 5.3%) and GODFREY PHILLIPS (down 6.2%).

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