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Rising Oil Prices amid Middle East Tensions, Key Q4FY19 Results and Top Stocks in Action
Fri, 17 May Pre-Open | Rini Mehta, TM Team

The Indian share markets surged in the final hour of trading on Thursday. At close, the Sensex was 279 points at 37,393, while Nifty was up 100 points at 11,257.

Except pharma, all other sectoral indices ended higher led by IT, metal, energy, bank and automobiles sector.

Rupee opened stronger at 70.27 versus Wednesday's close of 70.33 against the US dollar.

Top Stocks in Focus

Bajaj Finance share price will be in focus as the company reported a rise of 49.9% in its net profit at Rs 11.1 billion for the quarter under review as compared to Rs 7.4 billion for the same quarter in the previous year.

Meanwhile, Hindalco reported a fall of 37.4% in its net profit at Rs 2.4 billion for the quarter ended March 2019 as compared to Rs 3.8 billion for the same quarter in the previous year.

JSW Energy reported consolidated net profit at Rs 39 million versus Rs loss of Rs 4,831 million, revenue up 8.4% at Rs 19,240 million versus Rs 17,750 million, YoY.

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The United States Food and Drug Administration (USFDA) has completed inspection at Lupin's Aurangabad manufacturing facility. The inspection was carried out from 6 May to 15 May 2019. The stock will be watched out today.

Shilpa Medicare has received USFDA final approval for its ANDA, Zoledronic Acid Injection, 4 mg/5 mL. The drug is a generic equivalent of reference listed drug (RLD) Zometa.

Ashok Leyland has received an order from Senegal. This order comes from Senbus Industries, a company assembling urban buses in Dakar. The company has signed a contract for supplying 400 units of Ashok Leyland Eagle 916 Minibuses worth Euro 10.1 million.

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

Results Corner

Market participants will track Bajaj Auto, CESC, Ador Fontech, City Union Bank, Corporation Bank, IOC, SRL, UPL among others as they announce their March quarter results today.

Global Stock Market Drivers

Bonds rose globally on Thursday, European stocks edged lower with US equity futures and Asian shares fell amid simmering trade tensions between the world's biggest economies. The dollar was steady and crude oil gained.

Equities have oscillated this week as traders scramble to make sense of a slew of headlines.

In the latest developments, President Donald Trump signed an order that's expected to restrict Chinese telecommunications firms from selling their equipment in the US, while he's set to give the European Union and Japan a deadline to agree to "limit or restrict" automobile exports to America.

Amid the confusing landscape, traders have increased bets on the Federal Reserve cutting borrowing costs later this year.

Here are some notable events to watch out for:

  • Walmart and Nvidia are among companies reporting earnings today.
  • Bank of Indonesia's an interest rate decision will be in focus.

Oil Prices Rise amid Middle-east Tensions

Oil prices rose on Thursday for the third day in a row as fears of supply disruptions amid heightened tensions in the Middle East overshadowed swelling US crude inventories.

Brent crude futures were at US$72.30 a barrel, up 53 cents from their last close. Brent is heading for its biggest weekly rise in six weeks.

US West Texas Intermediate (WTI) crude futures were at US$62.49 per barrel, up 47 cents from their previous settlement.

Oil was drawing support from the risk of conflict in the Middle East, with helicopters carrying US staff from the US embassy in Baghdad on Wednesday out of apparent concern about perceived threats from Iran.

Also keeping prices in check is uncertainty about whether OPEC and other producers will maintain into the second half of the year supply cuts that have boosted prices more than 30% in 2019.

The Organization of the Petroleum Exporting Countries (OPEC) said on Tuesday that world demand for its oil would be higher than expected this year.

The OPEC+ group of producers, which includes Russia, meets next month to review whether to maintain the pact beyond June.

The oil market is marked by tight supply.

An end this month to US waivers that allowed some countries to buy Iranian oil after the reposition of US sanctions has prompted Tehran to relax restrictions on its nuclear program and threaten action that could breach a 2015 nuclear deal.

An attack on four oil tankers in the Gulf on Sunday, for which no one has claimed responsibility, and Saudi Arabia's announcement that armed drones hit two of its oil pumping stations, have compounded concerns have stoked supply-side fears.

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Stock Market Updates

SHRIRAM TRANSPORT Plunges by 5%; BSE 500 Index Down 0.1% (Today's Market)

Jul 23, 2019 09:52 AM

SHRIRAM TRANSPORT share price has plunged by 5% and its current market price is Rs 1,045. The BSE 500 is down by 0.1%. The top gainers in the BSE 500 Index are PC JEWELLER (up 6.7%) and RELIANCE CAPITAL (up 4.9%). The top losers is SHRIRAM TRANSPORT (down 5.3%)..

INFOSYS at 52 Week High; BSE 500 Index Down 0.2 % (Today's Market)

Jul 23, 2019 09:44 AM

INFOSYS share price has hit a 52-week high. It is presently trading at Rs 800. BSE 500 Index is down by 0.2% at 14,677. Within the BSE 500, INFOSYS (up 1.7%) and TV18 BROADCAST (up 5.8%) are among the top gainers, while top losers are GREENPLY INDUSTRIES and CERA SANITARY.

VA TECH WABAG Surges by 5%; BSE CAPITAL GOODS Index Down 0.3% (Today's Market)

Jul 23, 2019 09:32 AM

VA TECH WABAG share price has surged by 5% and its current market price is Rs 309. The BSE CAPITAL GOODS is down by 0.3%. The top gainers in the BSE CAPITAL GOODS Index is VA TECH WABAG (up 5.1%). The top losers are FINOLEX CABLES (down 0.1%) and HONEYWELL AUTOMATION (down 0.3%).

ZENSAR TECHNOLOGIES Plunges by 6%; BSE IT Index Up 0.2% (Today's Market)

Jul 23, 2019 09:20 AM

ZENSAR TECHNOLOGIES share price has plunged by 6% and its current market price is Rs 237. The BSE IT is up by 0.2%. The top gainers in the BSE IT Index are PERSISTENT SYSTEMS (up 2.4%) and TCS (up 0.9%). The top losers is ZENSAR TECHNOLOGIES (down 5.7%)..

PROCTER & GAMBLE HEALTH Plunges by 5%; BSE HEALTHCARE Index Up 0.2% (Today's Market)

Jul 23, 2019 09:20 AM

PROCTER & GAMBLE HEALTH share price has plunged by 5% and its current market price is Rs 4,618. The BSE HEALTHCARE is up by 0.2%. The top gainers in the BSE HEALTHCARE Index are SYNGENE INTERNATIONAL (up 2.6%) and DR. LAL PATHLABS LTD (up 1.8%). The top losers is PROCTER & GAMBLE HEALTH (down 5.4%)..

Indian Indices Witness Selling, HDFC Q1FY20 Results, and Top Cues in Focus Today (Today's Market)

Jul 23, 2019 Pre-Open

Top cues to track in today's stock market session.

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