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Sensex Opens Marginally Higher; Healthcare and Telecom Stocks Lead
Wed, 16 Sep 09:30 am | Yash Vora, TM Team

Asian stock markets are trading on a mixed note today as investors await the Federal Reserve's view on the economy at the end of its policy meeting.

The Shanghai Composite is flat while the Hang Seng is down 0.2%. The Nikkei 225 is trading up by 0.1%.

US stocks rose on Tuesday as investors hoped the Federal Reserve would stick with its supportive policy stance as the central bank's two-day meeting got under way.

Back home, Indian share markets have opened the day on a positive note.

The BSE Sensex is trading up by 66 points.

The NSE Nifty is trading higher by 18 points.

M&M and L&T are among the top gainers today. Asian Paints, on the other hand, is among the top losers today.

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The BSE Mid Cap index has opened up by 0.3%.

The BSE Small Cap index is trading higher by 0.4%.

Sectoral indices are trading mixed with stocks in the healthcare sector witnessing maximum buying interest.

Oil & gas stocks are trading in the red.

The rupee is currently trading at 73.62 against the US$.

Gold prices are currently trading up by 0.1% at Rs 51,803 per 10 grams.

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Moving on to the stock specific news...

M&M is among the top buzzing stocks today after it was reported that Mahindra and Mahindra's overseas subsidiary SsangYong Motor was close to signing a binding investment agreement with US-based HAAH Automotive Holdings.

SsangYong's shares touched the upper circuit of 30% to end at 5,620 won per ordinary share on the KOSPI.

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Note that, Mahindra had earlier announced that it will not make any further investments in the ailing SUV-maker and wanted to give up its controlling stake after being unable to turn around the operations of the company.

The company's board moved a special resolution at its AGM to reduce its shareholding in SsangYong to less than 50%, an indication of a new investor coming in rather than a complete sell out.

Mahindra currently holds a 74.7% stake in SsangYong.

Now, how this pans out going forward remains to be seen. We will keep you updated on the developments from this space.

M&M share price opened the day 1.2%

Speaking of the automobile sector, have a look at the chart below which shows the performance of BSE auto index for the month of September since inception.

The BSE auto index ended in the red on only 3 out of the last 15 years for the month of September. That's a success ratio of 80%.

The auto index has entered the greed phase in September 2019 and will stay there until December 2021. This means there is still a lot of fuel left for auto stocks.

How automobile stocks perform in the coming months remains to be seen. Stay tuned for more updates from this space.

In another development, Take Solutions share price is also in focus after the company announced that the management has taken into consideration the impact of known internal and external events arising from COVID-19 pandemic in the assessment of recoverability of trade receivables, contract assets and certain investments in subsidiaries.

The liquidity and business constraints, consequent to impact of COVID 19 pandemic, have significantly hampered the operations of a step-down subsidiary viz.

Navitas Life Sciences GmbH, Germany (a direct subsidiary of Ecron Acunova and a step- down subsidiary of TAKE Solutions).

After assessing the current situation and considering the local requirements, the liquidation process of Navitas Life Sciences GmbH, Germany has been initiated as per the requirements of local laws, the reports noted.

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

TATA ELXSI Share Price Up by 6%; BSE IT Index Down 0.7% (Today's Market)

Oct 22, 2020 03:34 PM

TATA ELXSI share price is trading up by 6% and its current market price is Rs 1,633. The BSE IT is down by 0.7%. The top gainers in the BSE IT Index are TATA ELXSI (up 5.8%) and SONATA SOFTWARE (up 6.0%). The top losers are TCS (down 0.1%) and HCL TECHNOLOGIES (down 0.3%).

JK TYRE & IND Share Price Up by 10%; BSE 500 Index Up 0.0% (Today's Market)

Oct 22, 2020 03:34 PM

JK TYRE & IND share price is trading up by 10% and its current market price is Rs 67. The BSE 500 is up by 0.0%. The top gainers in the BSE 500 Index are JK TYRE & IND (up 10.4%) and CHENNAI PETROLEUM (up 20.0%). The top losers are HDFC and PROCTER & GAMBLE HEALTH (down 0.1%).

SHEELA FOAM Share Price Up by 6%; BSE FMCG Index Up 0.3% (Today's Market)

Oct 22, 2020 03:34 PM

SHEELA FOAM share price is trading up by 6% and its current market price is Rs 1,331. The BSE FMCG is up by 0.3%. The top gainers in the BSE FMCG Index are SHEELA FOAM (up 5.6%) and GSK CONSUMER (up 5.1%). The top losers are BALRAMPUR CHINI (down 0.8%) and NESTLE (down 0.9%).

THYROCARE TECHNOLOGIES Share Price Down by 5%; BSE HEALTHCARE Index Down 0.3% (Today's Market)

Oct 22, 2020 03:34 PM

THYROCARE TECHNOLOGIES share price is trading down by 5% and its current market price is Rs 1,109. The BSE HEALTHCARE is down by 0.3%. The top gainers in the BSE HEALTHCARE Index are JUBILANT LIFE SCIENCES (up 5.0%) and IPCA LABS (up 4.5%). The top losers is THYROCARE TECHNOLOGIES (down 5.2%).

TORRENT POWER Share Price Up by 6%; BSE POWER Index Up 2.2% (Today's Market)

Oct 22, 2020 03:30 PM

TORRENT POWER share price is trading up by 6% and its current market price is Rs 326. The BSE POWER is up by 2.2%. The top gainers in the BSE POWER Index are TORRENT POWER (up 6.1%) and KEC INTERNATIONAL (up 6.3%). The top losers are ADANI POWER (down 0.4%) and SIEMENS (down 0.9%).

Sensex Trades 138 Points Lower; Dow Futures Down by 124 Points (Today's Market)

Oct 22, 2020 12:30 pm

BSE Sensex is trading down by 138 points, while the NSE Nifty is trading down by 42 points.

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Oct 22, 2020 03:36 PM