Sensex Opens in Green; Oil & Gas Stocks Lead

Wed, 15 May 09:30 am

   Previous Close   

   Pre-Open   

   12:30 pm   

   Closing   

Asian share markets are higher today as Japanese and Hong Kong shares show gains. The Nikkei 225 is up 0.1% while the Hang Seng is up 0.7%. The Shanghai Composite is trading up by 1%. Meanwhile, technology stocks led the S&P 500 and the Nasdaq higher on Tuesday, with US stocks reclaiming ground lost to Monday's steep sell-off as investors took heart from a tonal shift in ongoing US trade negotiations with China.

Back home, India share markets opened on a firm note. The BSE Sensex is trading up by 113 points while the NSE Nifty is trading up by 34 points. The BSE Mid Cap index and BSE Small Cap index opened up by 0.1% and 0.3% respectively.

Barring telecom and capital goods stocks, all sectoral indices have opened the day on a positive note with oil & gas and realty stocks witnessing maximum buying interest.

If the India Volatility Index (VIX) score is anything to go by, we are in for a turbulent ride ahead.

The India VIX Index measures the volatility expected over the next 30 days. It touched an all-time high recently.

Market Volatility Highest in Years

Uncertainty over the general elections, trade war threats between US and China and rising crude oil prices have all contributed to widespread fear among investors.

While the 2018 correction was mainly due to corporate governance issues back home, the threat of macro issues looms large in 2019.

For you, dear reader, it is important to ignore the short-term noise of the mainstream media.

While the volatility index is high, it is no indicator of the market direction. The index was high during 2014 as well, prior to the elections. Post that we had a multi-year bull run.

Co-head of research at Equitymaster, Tanushree Banerjee believes, safe stocks with strong fundamentals will do well regardless the short-term volatility.

In fact, the volatility might just give you an opportunity to load up on these quality businesses.

The rupee is currently trading at 70.24 against the US$.

The rupee on May 14 recovered 7 paise to close at 70.44 to the US dollar on the back of gains in equity markets while US-China trade-related concerns and rising crude oil prices continued to weigh on investor sentiment.

Stock markets cut short their nine-day losing streak with Sensex closing 0.6% higher and Nifty regaining nearly 74 points on value buying in pharma and banking counters.

At the interbank foreign exchange market, the rupee opened strong at 70.43 against the US currency. During the day, the local unit moved in a range of 70.51 to 70.30.

The domestic currency finally ended at 70.44, up 7 paise against its previous close. The rupee had slid to a two-and-a-half-month-low of 70.51 Monday on heavy forex outflows.

Reportedly, rupee has nearly depreciated by 1.4% in the last one week on account of the escalating trade dispute between US and China and sustained outflow from the Indian capital market. There has been a net outflow of around US$ 200 million dollars from the Indian capital market in the last one week.

On the trade war front, US President Donald Trump remained adamant on his policy to impose a hefty import duty on Chinese products, which has resulted in a quick retaliation from China and a massive fall in the American stock markets fearing a US-China trade war.

China announced a hike in retaliatory tariffs on the import of US$ 60 billion of American products.

Meanwhile, the Dollar Index which gauges the greenback's strength against a basket of six currencies gained 0.1% to 97.38.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 20.1 billion on a net basis Tuesday.

Moving on to the news from FMCG sector. Nestle India on Tuesday reported a 9.3% year-on-year growth in net profit at Rs 4.6 billion for the first quarter ended March 2019.

The company, which follows January-December financial year for accounting, had posted net profit of Rs 4.2 billion in March quarter last year.

The company's revenue from operations rose 8.9% to Rs 30 billion from Rs 27.6 billion in the corresponding quarter last year.

For the January-March quarter, domestic sales increased 10.2% y-o-y to Rs 28.2 billion on the back of volume growth in brands like Maggi, Kitkat and Nestle Munch.

Export sales declined 8.9% to Rs 1.6 billion due to lower coffee exports to Turkey, the company said.

The company also announced the company would be launching organic food products in the category 'Milk Products and Nutrition' in the coming months, in line with its vision to provide exciting options rooted in nutrition, health and wellness.

Nestle share price opened the day up by 1.3%.

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!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers