Modi's Return to Power, Sensex Hitting 40,000-Mark and Top Stocks in Action

Fri, 24 May Pre-Open

   Previous Close   

   09:30 am   

   12:30 pm   

   Closing   

   Podcast   

The Indian share markets slipped into the red with Sensex tumbling over 1,000 points from its intraday high as investors booked profits at higher levels that saw Sensex and Nifty hitting 40,000 and 12,000 levels, respectively.

The optimism came over the National Democratic Alliance (NDA's) return to power after the 2019 Lok Sabha election.

In the last hour of the day's trading session, the S&P BSE Sensex had slipped almost 300 points to trade around 38,810 levels, with Vedanta, ITC, HDFC Bank, Tata Motors, and Bajaj Finance dragging the indices down. The Nifty50 index was hovering around 11,650 levels, down 81 points.

While the Indian stock market has given a big thumbs up to the re-election of the Modi government, what does this mean for the market going forward? And how can one play markets post elections?

Tanushree Banerjee answers these questions in the latest edition of The 5 Minute WrapUp. You can read the entire article here: My Top 7 Stocks to Buy as Modi Returns to Power

Also, with Sensex touching the 40,000 mark, does Sensex 1,00,000 sound outrageous from where we are right now?

History indicates a healthy rise in Sensex post elections. In the three elections prior to this, we have seen a government come back to power, and change hands but the Sensex has moved one way i.e. upwards.

Top Stocks in Focus

Thermax share price will be in focus as it reported a rise of 31.5% in its net profit at Rs 1.1 billion for the quarter ended March 2019 as compared to Rs 0.9 billion for the same quarter in the previous year.

Zydus Cadila has received the final approval from the United States Food & Drug Administration (USFDA) to market Esomeprazole Magnesium Delayed-Release Capsules USP (US RLD- NEXIUM), 25 mg and 40 mg. Cadila Healthcare will be watched out today.

NMDC reported 2.9 million tonne (MT) of iron ore production and logged sales volume of 2.7 MT up to the month of April 2019.

Ramco Cements reported a rise of 52.3% in its net profit at Rs 1.7 billion for the fourth quarter ended March 2019 as compared to Rs 1.1 billion for the same quarter in the previous year.

Sintex Industries has received an approval for the disinvestment in BVM Overseas up to 24.99% for the purpose of raising resources for long term working capital requirement and accordingly BVM Overseas will cease to be a Wholly Owned Subsidiary Company and will remain a Subsidiary of the Company.

Reliance Capital has signed binding definitive agreements with Nippon Life Insurance of Japan to exit its stake in Reliance Nippon Life Asset Management. Both partners currently hold 42.9% each in the company, while the rest is with public shareholders.

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 Ashok Leyland, Bata India, Birlasoft, Dishtv, IDFC, JSw Steel, Rolta India, Whirlpool among others as they announce their March quarter results today.

Domestic Air Passenger Volume falls in April

The domestic air passenger count fell 4.5% in the month of April 2019.

According to the DGCA data, domestic airlines flew 110 lakh passengers in April 2019, as against 115.1 lakh passengers carried in the same month of last year.

However, passengers carried by domestic airlines during January-April 2019 were 464.5 lakh as against 453 lakhs during the corresponding period of previous year, registering a growth of 2.5%.

In terms of passenger load factor (PLF), SpiceJet was leading among all with 93.7% PLF during the month of April 2019, followed by Go Air (90.8%), IndiGo (87.8%), Vistara (84.6%) and Air Asia (84.4%).

The passenger load factor in the month of April 2019 has shown decreasing trend compared to previous month due to end of vacation period of various sectors.

Global Stock Market Drivers

US equity futures and European stocks tracked a slide in Asian shares on Thursday as trade tensions between the world's two largest economies showed little sign of easing. Treasuries climbed with the dollar.

The pound extended its decline against the euro to a record 14th day amid a growing revolt over Brexit that looks increasingly likely to force Theresa May from power. The common currency dipped against the dollar as measures of German business confidence and euro-area output missed expectations, and as voting got underway in European elections.

Here are some notable events to look forward to:

• The European Parliament holds continent-wide elections May 23-26.
• The European Central Bank publishes its account of the April monetary policy decision.

Oil Prices Fall

Oil prices dropped by around 1% on Thursday, extending falls from the previous session amid surging US crude inventories and weak demand from refineries.

Brent crude futures, the international benchmark for oil prices, were at US$70.36 per barrel, down 0.9% from their last close.

US West Texas Intermediate (WTI) crude futures were down by 51 cents, or 0.8%, at US$60.91 per barrel.

Crude futures already fell by around 2% the previous day.

US crude oil inventories rose last week, hitting their highest levels since July 2017, due to weak refinery demand, the Energy Information Administration said on Wednesday.

Commercial US crude inventories rose by 4.7 million barrels in the week ended May 17, to 476.8 million barrels, their highest since July 2017, the EIA data showed.

Beyond weak refinery demand for feedstock crude oil, the increase in commercial inventories also came on the back of planned sales of US strategic petroleum reserves (SPR) into the commercial market.

US crude oil production climbed by 100,000 barrels per day (bpd) to 12.2 million bpd, putting output near its record of 12.3 million bpd reached late last month.

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