Indian Markets Open Weak

Mon, 4 Jan 09:30 am

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Major Asian stock markets have opened the day on a negative note. Stock markets in Hong Kong are trading down by 2.3% while Japan markets are trading lower by 2.5%. Further, stock indices in Europe and US also ended their previous session on a dismal note. The rupee is trading at 66.33 per US$.

Indian stock markets have opened the day on a bearish note. The BSE Sensex is trading lower by 141 points (down 0.5%) and NSE Nifty is trading lower by 49 points (down 0.6%). Both BSE Mid Cap and BSE Small Cap are trading higher by 0.2% and 0.3% respectively. Sectoral indices have opened mixed with stocks from power and realty sector witnessing maximum buying interest. Telecom stocks are trading in the red.

As per a leading financial daily, TVS Motor reported a 4% increase in its total sales during the month of December on a YoY basis. The company stated that it has sold 2, 02,086 units during the month as against 1, 94,481 units in the same month last year.

Total two-wheeler sales for the company for the month grew 5.2% to 1, 94,066 units on a YoY basis. Motorcycle sales rose 1.2% to 71,435 units while scooter sales grew 21.4% to 65,090 units in December. However, exports declined marginally to 32,771 units as against 32,696 in the corresponding period previous year.

It is imperative to note 2015 proved out to be a supportive one for the passenger vehicle industry. The domestic passenger vehicle industry ended the year on a high note. The industry witnessed a double digit growth in its December sales. As the data suggests, 11 of the country's top passenger vehicle makers together witnessed around 11% growth in sales on a YoY basis. Most of this surge was seen during December on the back of demand for new models and year-end discounts.

However, the coming days can be cloudy for passenger car maker companies. This can be said as the tighter emission norms undertaken by the government may drive this industry into an uncertain future. The recent move can be seen as the odd-even rule undertaken by the government in Delhi. Such government and regulatory actions can be an eye opener for investors. As Tanushree Banerjee points out in one of our articles from The 5 Minute WrapUp, "Environmental concerns have always been a threat to auto makers. Wider use of public transport can also be a meaningful risk." Read the entire article here to know more.

Mining stocks have opened their session on a mixed note with Gujarat NRE Coke and Ashapura Minechem leading the gains. Meanwhile, as per an article in Economic Times, the government is in the process of identifying 50 potential blocks of 100 square kilometer. This will be allocated to private companies. The initiative is undertaken to encourage private investments in the mineral exploration sector.

The blocks are said to be given to private companies after the national mineral exploration policy is finalized. The blocks will be allotted in the three models proposed in the national mineral exploration policy for attracting private sector participation in exploration. These three models are - revenue share from mining lease proceeds for 50 years, joint venture (JV) between private and public sector firms and reimbursement of costs with reasonable profits.

Lastly, the government aims to tap around Rs 4.5 to 5 billion revenue in the National Mineral Exploration Trust that seeks to enhance exploration activities.

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