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Markets will remain closed on 10th April, 2020 on account of Good Friday.

Sensex Opens Flat; Metal & FMCG Stocks Gain
Fri, 11 Jan 09:30 am | Rini Mehta, TM Team

Asian stock markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.7% while the Hang Seng is up 0.1%. The Shanghai Composite is trading up by 0.1%. Wall Street extended its rally into a fifth straight day on Thursday in a session of whipsaw trading as investors responded to mixed comments by Federal Reserve Chairman Jerome Powell, while a warning from Macy's pummeled retail stocks.

Back home, India share markets opened on a flat note with a positive bias. The BSE Sensex is trading up by 60 points while the NSE Nifty is trading up by 9 points. The BSE Mid Cap index opened up by 0.1% while BSE Small Cap index opened up by 0.2%.

Barring realty stocks, IT stocks & telecom stocks, all sectoral indices have opened the day in green with metal stocks and FMCG stocks witnessing maximum buying interest.

The rupee is currently trading at Rs 70.45 against the US$.

IT stocks opened the day on a mixed note with Oracle Financial Services & HCL Technologies leading the pack of gainers. TCS share price will be in focus today after the company on Thursday reported a 24.1% rise in YoY profit at Rs 81.1 billion for the December quarter.

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The IT major had reported Rs 65.3 billion profit in the same quarter last year.

Revenue for the quarter rose 20.8% YoY to Rs 373.4 billion.

The company stated that it posted a strong revenue growth of 12.1% in the December quarter, which is the highest in 14 quarters, with continued growth acceleration in key verticals and across all geographies.

Further, the directors of the company declared a third Interim dividend for the financial year of Rs 4 per share.

The dividend will be paid on January 24, and January 18 has been fixed as the record date.

Moving on to the news from economy. In a major relief to micro, small and medium enterprises (MSMEs), the GST Council on Thursday doubled the GST exemption limit for companies in the sector to those with an annual turnover of Rs 4 million from the current Rs 2 million.

The move to raise the threshold for GST registration is significant considering that small businesses have been hit by the government's move to demonetise high-value currency notes in November 2016, business disruption in the early days of GST implementation and a credit squeeze in recent months.

Bringing about major changes in the composition scheme, the current turnover limit was increased to Rs 15 billion from Rs 10 billion.

The Council also allowed Kerala to levy a calamity cess of 1% on intra-state sales for a maximum period of two years.

The government has taken several steps to benefit consumers and small businesses ahead of the 2019 Lok Sabha elections.

These include MSMEs loans in 59 minutes, tax relief to National Pension System (NPS) subscribers, GST rate cuts on 22 items, extension of due date for businesses to file various return forms, incentives for onion exporters and tightening of foreign direct investment norms for online marketplaces to protect small traders.

Now speaking of FDI, the FDI into India exceeded that into China in 2018.

2018: The Year When India Beat China in FDI

That is a testament of the fact that India's foreign investment policies and business environment are finally competing with that of its Oriental neighbour.

India aims to receive US$ 100 billion in FDI in the next two to three years.

Special industrial clusters are being created for countries like Japan, South Korea, China, and Russia where their companies can invest and operate.

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

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

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Stock Market Updates

VOLTAS Surges by 6%; BSE CAPITAL GOODS Index Up 1.6% (Today's Market)

Apr 9, 2020 03:33 PM

VOLTAS share price has surged by 6% and its current market price is Rs 515. The BSE CAPITAL GOODS is up by 1.6%. The top gainers in the BSE CAPITAL GOODS Index are VOLTAS (up 6.0%) and HEG (up 10.0%). The top losers are THERMAX (down 0.6%) and KALPATARU POWER (down 0.6%).

MARUTI SUZUKI Surges by 13%; BSE AUTO Index Up 10.2% (Today's Market)

Apr 9, 2020 03:33 PM

MARUTI SUZUKI share price has surged by 13% and its current market price is Rs 5,399. The BSE AUTO is up by 10.2%. The top gainers in the BSE AUTO Index are MARUTI SUZUKI (up 12.9%) and MRF LTD. (up 5.2%).

LUPIN Surges by 13%; BSE HEALTHCARE Index Up 3.4% (Today's Market)

Apr 9, 2020 03:33 PM

LUPIN share price has surged by 13% and its current market price is Rs 798. The BSE HEALTHCARE is up by 3.4%. The top gainers in the BSE HEALTHCARE Index are LUPIN (up 12.7%) and DIVIS LABORATORIES (up 6.2%). The top losers are J.B.CHEMICALS (down 0.2%) and PROCTER & GAMBLE HEALTH (down 1.2%).

TATA ELXSI Surges by 11%; BSE IT Index Up 1.6% (Today's Market)

Apr 9, 2020 03:29 PM

TATA ELXSI share price has surged by 11% and its current market price is Rs 712. The BSE IT is up by 1.6%. The top gainers in the BSE IT Index are TATA ELXSI (up 11.1%) and FIRSTSOURCE SOL. (up 12.2%). The top losers is TECH MAHINDRA (down 2.4%).

TITAN Surges by 12%; BSE 500 Index Up 3.8% (Today's Market)

Apr 9, 2020 03:29 PM

TITAN share price has surged by 12% and its current market price is Rs 1,040. The BSE 500 is up by 3.8%. The top gainers in the BSE 500 Index are TITAN (up 12.5%) and MARUTI SUZUKI (up 14.1%). The top losers are BLUE DART EXPRESS and UPL .

Sensex Zooms 1,000 Points; Hero MotoCorp & Bajaj Auto Surge Over 9% (Today's Market)

Apr 9, 2020 12:30 pm

The BSE Sensex is trading up by 1,035 points, while the NSE Nifty is trading up by 297 points.

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